Company: TRUE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001327318-25-000065
Chunk: 234

Company: TrueCar, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 234
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 “Risk Factors”). Dealer revenue, OEM incentives revenue, and Other revenue represented 93.5%, 5.9%, and 0.6%, respectively, of revenues for the three months ended September 30, 2025 as compared to 90.1%, 9.4%, and 0.5%, respectively, for the same period in 2024.

Nine months ended September 30, 2025 compared to nine months ended September 30, 2024. The increase in our total revenues of $5.6 million, or 4.3%, for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 was mainly due to an $8.9 million increase in our vehicle sourcing products, which includes Sell Your Car and TCWS (refer to drivers in paragraph above), a $0.7 million increase related to the introduction of TCMS products, and a $0.6 million increase in franchise dealer revenues. These increases were partially offset by a $2.3 million decrease in OEM incentives revenue (refer to drivers in paragraph above), and a $2.3 million decrease in independent dealer revenue driven by dealer churn as discussed in the Key Metrics section above. Since some of our OEM arrangements target our affinity group marketing partners, we expect that OEM revenue may continue to fluctuate in future quarters as we enter into new, or terminate existing agreements with our affinity group marketing partners (refer to Part II, Item 1A, “Risk Factors”). Dealer revenue, OEM incentives revenue, and Other revenue represented 92.1%, 7.4%, and 0.5%, respectively, of revenues for the nine months ended September 30, 2025 as compared to 90.1%, 9.5%, and 0.4%, respectively, for the same period in 2024.

Costs and Operating Expenses

Cost of Revenue (exclusive of depreciation and amortization) Three Months Ended September 30,Nine Months Ended September 30,  2025202420252024 (dollars in thousands)Cost of revenue (exclusive of depreciation and amortization)$8,804 $7,736 $28,843 $17,481 Cost of revenue (exclusive of depreciation and amortization) as a percentage of revenues20.4 %16.6 %21.4 %13.5 %

Three months ended September 30, 2025