Company: TRUE
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001327318-25-000016
Chunk: 311

Company: TrueCar, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 311
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 by operating activities for the three months ended March 31, 2024 was $2.0 million. This was primarily comprised of our net loss of $5.8 million, adjusted for non-cash items such as, depreciation and amortization expense of $4.6 million, stock-based compensation expense of $2.6 million, amortization of lease right-of-use assets of $0.6 million, other non-cash expenses of $0.4 million, and bad debt expense of $0.2 million. Net cash provided by operations also reflected a decrease of $0.6 million from changes in operating assets and liabilities, which primarily reflected a decrease in accrued employee expenses of $3.5 million, a decrease in accrued expenses and other current liabilities of $2.6 million, and a decrease in operating lease liabilities of $0.9 million. These were offset by a decrease in accounts receivable of $2.9 million, an increase in accounts payable of $2.3 million, and a decrease in prepaid expenses and other assets of $1.1 million.

Investing Activities 

Cash used in investing activities of $2.7 million for the three months ended March 31, 2025 consists primarily of investments in software and computer hardware.

Cash used in investing activities of $2.6 million for the three months ended March 31, 2024 consisted primarily of investments in software and computer hardware.

Financing Activities 

Cash used in financing activities of $3.2 million for the three months ended March 31, 2025 represented a payment for the acquisition date fair value of $2.8 million for the third and final tranche of contingent cash consideration associated with our acquisition of Digital Motors, and taxes paid of $0.5 million for the net share settlement of certain equity awards.

Cash used in financing activities of $2.8 million for the three months ended March 31, 2024 represented a payment of $1.6 million for the second tranche of contingent cash consideration associated with our acquisition of Digital Motors, and taxes paid of $1.2 million for the net share settlement of certain equity awards.

Contractual Obligations and Known Future Cash Requirements

Information related to the Company’s contractual obligations, commercial commitments and expected cash requirements can be found in Note 4 and Note 9 in our Annual Report on Form 10-K, filed with the SEC on February 19, 2025. There have been no material changes in