Company: TRUE
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001327318-25-000016
Chunk: 159

Company: TrueCar, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 159
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Item 1. FINANCIAL STATEMENTS

TRUECAR, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value and share data)

(Unaudited) March 31, 2025December 31, 2024Assets  Current assets  Cash and cash equivalents$98,026 $111,835 Accounts receivable, net of allowances of $669 and $783 at March 31, 2025 and December 31, 2024, respectively15,461 15,742 Prepaid expenses4,939 4,499 Other current assets3,654 3,052 Total current assets122,080 135,128 Property and equipment, net15,334 15,735 Operating lease right-of-use assets2,014 2,351 Intangible assets, net780 1,970 Other assets4,797 4,507 Total assets$145,005 $159,691 Liabilities and Stockholders’ Equity  Current liabilities  Accounts payable$10,214 $7,928 Accrued employee expenses2,637 4,892 Operating lease liabilities, current3,257 2,964 Accrued expenses and other current liabilities9,833 17,109 Total current liabilities25,941 32,893 Operating lease liabilities, net of current portion7,620 8,313 Other liabilities348 348 Total liabilities33,909 41,554 Commitments and contingencies (Note 5)Stockholders’ Equity  Preferred stock — $0.0001 par value; 20,000,000 shares authorized at March 31, 2025 and December 31, 2024, respectively; no shares issued and outstanding at March 31, 2025 and December 31, 2024— — Common stock — $0.0001 par value; 1,000,000,000 shares authorized at March 31, 2025 and December 31, 2024, respectively; 87,516,237 and 87,190,136 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively9 9 Additional paid-in capital714,569 711,474 Accumulated deficit(603,482)(593,346)Total stockholders’ equity111,096