Company: TRUE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001327318-25-000036
Chunk: 300

Company: TrueCar, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 300
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 used vehicles. This number is calculated by counting each location, or rooftop, individually, regardless of the size of the dealership that owns the rooftop. Our independent dealer count was 2,885 at June 30, 2025, a decrease from 3,200 at June 30, 2024, and a decrease from 3,054 at December 31, 2024. The decrease in independent dealer count is primarily due to ongoing industry consolidations, with some of our independent dealers being acquired, along with the Company’s prioritization of franchise activations during the latter half of 2024 and into 2025.

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Results of Operations

The following table sets forth our selected consolidated statements of operations data for each of the periods indicated.

Three Months Ended June 30,Six Months Ended June 30, 2025  2025202420252024 (in thousands)Consolidated Statements of Operations Data:  Revenues$46,998 $41,795 $91,808 $82,847 Costs and operating expenses: Cost of revenue (exclusive of depreciation and amortization presented separately below)11,149 5,484 20,039 9,745 Sales and marketing 25,105 23,945 50,122 46,027 Technology and development7,095 7,433 15,214 15,556 General and administrative8,812 15,438 18,896 24,924 Depreciation and amortization3,416 4,684 7,314 9,269 Total costs and operating expenses55,577 56,984 111,585 105,521 Loss from operations(8,579)(15,189)(19,777)(22,674)Interest income955 1,672 2,023 3,316 Loss before income taxes(7,624)(13,517)(17,754)(19,358)Provision for income taxes3 3 9 10 Net loss$(7,627)$(13,520)$(17,763)$(19,368)Other Non-GAAP Financial Information:  Adjusted EBITDA$(1,170)$98 $(4,972)$1,034 

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Comparison of the Three and Six Months Ended June 30, 2025 and 2024 

Revenues Three Months Ended June 30,Six Months Ended June 30