Company: TRUE
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001327318-25-000016
Chunk: 188

Company: TrueCar, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 188
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 board of directors extended the Program’s expiration to September 30, 2024. In the first quarter of 2024, the Program had a remaining authorization of $45.8 million and the Board further extended the term of the repurchase program until December 31, 2026 and increased the amount authorized to repurchase shares by approximately $54.2 million. Following this increase, the Company had $100 million of remaining authorization for future share repurchases. The timing and amount of any repurchases is determined by us based on our evaluation of market conditions and other factors. Repurchases of our common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when we might otherwise be precluded from doing so under insider trading laws, open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws. The Program may be suspended or discontinued at any time and does not obligate us to purchase any minimum number of shares. The Company had no share repurchases during the three months ended March 31, 2025. In June 2024 through December 2024, the Company repurchased and retired a total of 6.1 million shares under the Program for $20.0 million, which excludes excise tax imposed under the Inflation Reduction Act of $0.1 million. As of March 31, 2025, the Company had a remaining authorization of $80.0 million for future share repurchases. 

Cash Flows

The following table summarizes net cash from operating, investing, and financing activities: Three Months Ended March 31, 20252024Consolidated Cash Flow Data:(in thousands)Net cash (used in) provided by operating activities$(7,895)$2,049 Net cash used in investing activities(2,675)(2,560)Net cash used in financing activities(3,239)(2,766)Net decrease in cash, cash equivalents and restricted cash$(13,809)$(3,277)

Operating Activities 

Our net loss and cash flows from operating activities are significantly influenced by our investments in headcount and infrastructure to support our growth and marketing and advertising expenses. Our net loss has been significantly different than cash flows from operating activities due to the inclusion of non-cash expenses and charges.

31

Cash used in operating activities for the three months ended March 31, 2025 was $7.9 million.