Company: TRUE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001327318-25-000065
Chunk: 339

Company: TrueCar, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 339
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 months ended September 30, 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 September 30, 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: Nine Months Ended September 30, 20252024Consolidated Cash Flow Data:(in thousands)Net cash provided by operating activities$2,000 $1,846 Net cash used in investing activities(6,165)(6,151)Net cash used in financing activities(4,484)(18,150)Net decrease in cash, cash equivalents and restricted cash$(8,649)$(22,455)

Operating Activities 

Our net income (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 income (loss) has been significantly different than cash flows from operating activities due to the inclusion of non-cash expenses and charges.

Cash provided by operating activities for the nine months ended September 30, 2025 was $2.0 million. This was primarily comprised of our net loss of $12.8 million, adjusted for non-cash items such as, depreciation and amortization expense of $9.9 million, stock-based compensation expense of $9.8 million, noncash gain on legal settlement of $3.3 million, amortization of lease right-of-use assets of $1.0 million, other non-cash expenses of $0.7 million, and bad debt expense of $0.5 million. Net cash provided by operations also reflected a decrease of $3.8 million from changes in operating assets and liabilities, which primarily reflected a decrease in accrued expenses and other current liabilities of $3.2 million, a decrease in operating lease liabilities of $1.7 million, an increase in prepaid expenses and other assets of $1.2 million, and a decrease in accrued employee expenses of $0.7 million. These were offset by a decrease in accounts receivable of $1.8 million and an increase in accounts payable of $