Company: TRUE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001327318-25-000036
Chunk: 170

Company: TrueCar, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 170
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 In addition, in evaluating Adjusted EBITDA you should be aware that in the future we will incur expenses such as those that are the subject of adjustments in deriving Adjusted EBITDA, and you should not infer from our presentation of Adjusted EBITDA that our future results will not be affected by these expenses or any unusual or non-recurring items.

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The following table presents a reconciliation of net loss to Adjusted EBITDA for each of the periods presented:

 Three Months Ended June 30,Six Months Ended June 30, 2025202420252024 (in thousands)Reconciliation of Net Loss to Adjusted EBITDA:  Net loss$(7,627)$(13,520)$(17,763)$(19,368)Non-GAAP adjustments: Interest income(955)(1,672)(2,023)(3,316)Depreciation and amortization3,416 4,684 7,314 9,269 Stock-based compensation3,279 3,189 6,625 5,821 Restructuring charges (1)603 362 603 1,474 Change in fair value of contingent consideration liability— 87 36 179 Impairment of right-of-use (“ROU”) assets (2)— 6,880 — 6,880 Interest accretion for terminated lease (3)111 85 227 85 Provision for income taxes3 3 9 10 Adjusted EBITDA$(1,170)$98 $(4,972)$1,034 

(1)The excluded amounts represent charges associated with the reorganization of the dealer sales and service organization in the second quarter of 2025 as well as the realignment of the Company’s leadership structure which began in the third quarter of 2023 and concluded in the second quarter of 2024. We consider these charges to be unrelated to our underlying results of operations and believe that their exclusion is appropriate to facilitate period-to-period operating performance comparisons.

(2)The excluded amount represents impairment charges on our ROU assets associated with certain of our existing office locations. We consider these charges to be unrelated to our underlying results of operations and believe that their exclusion is appropriate to facilitate period-to-period operating performance comparisons.

(3)The excluded amount represents the accretion of interest on the lease liability associated with the terminated office lease at 1401 Ocean Avenue, Santa Monica, California. We