Company: TRUE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001327318-25-000065
Chunk: 193

Company: TrueCar, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 193
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. 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 2,794 at September 30, 2025, a decrease from 3,106 at September 30, 2024, and a decrease from 3,054 at December 31, 2024. The decrease in independent dealer count reflects the Company’s prioritization of franchise activations during the latter half of 2024 and into 2025, as well as continued industry consolidations, resulting in many independent dealers being acquired.

30

Results of Operations

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

Three Months Ended September 30,Nine Months Ended September 30, 2025  2025202420252024 (in thousands)Consolidated Statements of Operations Data:  Revenues$43,207 $46,544 $135,015 $129,391 Costs and operating expenses: Cost of revenue (exclusive of depreciation and amortization presented separately below)8,804 7,736 28,843 17,481 Sales and marketing 23,059 25,049 73,181 71,076 Technology and development6,969 7,179 22,183 22,735 General and administrative9,154 9,560 28,050 34,484 Depreciation and amortization2,569 4,408 9,883 13,677 Total costs and operating expenses50,555 53,932 162,140 159,453 Loss from operations(7,348)(7,388)(27,125)(30,062)Interest income950 1,560 2,973 4,876 Other income11,397 — 11,397 — Income (loss) before income taxes4,999 (5,828)(12,755)(25,186)Provision for income taxes2 3 11 13 Net income (loss)$4,997 $(5,831)$(12,766)$(25,199)Other Non-GAAP Financial Information:  Adjusted EBITDA$(410)$201 $(3,574)$1,235 

31

Comparison of the Three and Nine Months Ended September 30, 2025 and 2024 

Revenues Three