CarGurus, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 7, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Income Statements
(in thousands, except share and per share data)
| Three Months EndedJune 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | ||||
| Marketplace | $221,998 | $195,167 | $434,233 | $382,386 |
| Wholesale | 6,275 | 13,119 | 14,022 | 29,244 |
| Product | 5,760 | 10,406 | 10,936 | 22,858 |
| Total revenue | 234,033 | 218,692 | 459,191 | 434,488 |
| Cost of revenue (1) | ||||
| Marketplace | 15,561 | 13,145 | 29,809 | 27,530 |
| Wholesale (2) | 8,347 | 12,633 | 14,517 | 26,857 |
| Product | 5,743 | 10,470 | 10,776 | 22,696 |
| Total cost of revenue | 29,651 | 36,248 | 55,102 | 77,083 |
| Gross profit | 204,382 | 182,444 | 404,089 | 357,405 |
| Operating expenses | ||||
| Sales and marketing | 84,337 | 82,311 | 171,053 | 164,585 |
| Product, technology, and development | 34,370 | 36,580 | 70,620 | 72,125 |
| General and administrative | 27,062 | 27,429 | 53,842 | 55,495 |
| Impairments | 29,633 | 127,475 | 29,633 | 127,475 |
| Depreciation and amortization | 4,136 | 2,233 | 8,342 | 5,025 |
| Total operating expenses | 179,538 | 276,028 | 333,490 | 424,705 |
| Income (loss) from operations | 24,844 | (93,584) | 70,599 | (67,300) |
| Other income, net | ||||
| Interest income | 2,134 | 2,440 | 5,232 | 6,346 |
| Other income, net | 430 | 721 | 128 | 216 |
| Total other income, net | 2,564 | 3,161 | 5,360 | 6,562 |
| Income (loss) before income taxes | 27,408 | (90,423) | 75,959 | (60,738) |
| Provision for (benefit from) income taxes | 5,065 | (21,702) | 14,571 | (13,318) |
| Net income (loss) | $22,343 | $(68,721) | $61,388 | $(47,420) |
| Net income (loss) per share attributable to common stockholders: (Note 11) | ||||
| Basic | $0.23 | $(0.66) | $0.61 | $(0.45) |
| Diluted | $0.22 | $(0.66) | $0.60 | $(0.45) |
| Weighted-average number of shares of common stock used in computing net income (loss) per share attributable to common stockholders: | ||||
| Basic | 98,889,893 | 103,827,661 | 100,980,676 | 105,501,236 |
| Diluted | 100,184,067 | 103,827,661 | 102,614,441 | 105,501,236 |
(1)
Includes depreciation and amortization expense for thethree months ended June 30, 2025 and 2024 and for the six months ended June 30, 2025 and 2024 of$2,546,$3,430,$4,894, and$8,119, respectively.
(2)
Includes impairment of other assets for thethree months ended June 30, 2025 and 2024 and for the six months ended June 30, 2025 and 2024 of$2,919,$180,$2,919, and$180, respectively.
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