Core Insights - Cars.com Inc. reported a strong sequential increase in dealer customers, reaching 19,412, marking the best growth in over three years [1][3] - The company achieved a record of 27.8 million monthly average unique visitors and 332 million visits in the first half of 2025 [1] - The company repurchased 2.1 million shares, representing 3% of shares outstanding, and raised its FY 2025 share repurchase target to $70 to $90 million [1][9] Financial Performance - Total revenue for Q2 2025 was $178.7 million, roughly flat compared to the prior year [4][39] - Net income decreased by 38% year-over-year to $7.0 million, with adjusted net income slightly up by 1% to $26.4 million [3][39] - Adjusted EBITDA for Q2 2025 was $50.9 million, representing a 1% increase from the previous year [3][39] Operational Highlights - Average monthly unique visitors decreased by 8% quarter-over-quarter but increased by 2% year-over-year [40] - Traffic (visits) declined by 5% quarter-over-quarter but increased by 2% year-over-year [40] - Monthly average revenue per dealer (ARPD) was $2,435, down 2% year-over-year [40] Cost Management - Total operating expenses for Q2 2025 were $163.5 million, down from $169.4 million in the prior year [5] - Adjusted operating expenses decreased by 2% year-over-year to $152.7 million, reflecting cost efficiencies [5] Cash Flow and Balance Sheet - Net cash provided by operating activities for the first half of 2025 was $55.7 million, down from $68.7 million in the prior year [7] - Free cash flow for the same period totaled $41.8 million, compared to $56.4 million in the prior year [7] - Total debt outstanding was $460.0 million, with total liquidity of $317.7 million as of June 30, 2025 [8]