Company: TRUE
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001327318-25-000016
Chunk: 175

Company: TrueCar, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 175
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1,644)Depreciation and amortization3,898 4,585 Restructuring charges**— 1,112 Stock-based compensation3,346 2,632 Other reconciling items***156 101 Net loss$(10,136)$(5,848)*Other segment expenses includes costs associated with acquiring wholesale vehicles, facilities costs and other operating costs.**Restructuring charges represent charges associated with the realignment of the Company’s leadership structure, which began in the third quarter of 2023.***Other reconciling items solely includes changes in fair value of contingent consideration liability, interest accretion for terminated lease, and income taxes, which are all disclosed elsewhere in the consolidated financial statements and accompanying footnotes.Assets provided to the CODM are consistent with those reported on the consolidated balance sheet. All of the Company’s principal operations, decision-making functions and long-lived assets are maintained in the United States and all losses are attributable to the United States.

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Item 2.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and related notes thereto included in Item 1 “Financial Statements” in this Quarterly Report on Form 10-Q. In addition to historical financial information, the following discussion and analysis contains forward-looking statements that involve risks, uncertainties, and assumptions. Our actual results and timing of selected events may differ materially from those anticipated in these forward-looking statements as a result of many factors, including, but not limited to, those discussed in the section titled “Risk Factors” included elsewhere in this Quarterly Report on Form 10-Q. See “Special Note Regarding Forward-Looking Statements.”

Overview

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our network of Certified Dealers. We are building the industry’s most personalized and efficient car buying experience as we seek to bring more of the purchasing process online.

We have established a diverse software ecosystem on a common technology infrastructure, powered by proprietary data and analytics. Our company-branded platform is available on our TrueCar website and mobile applications. In addition, we customize and operate our platform on a co-branded basis for our many affinity group marketing partners, including financial institutions such as Navy Federal and PenFed; membership-based organizations such as Consumer Reports, Sam’s Club, and AAA; and employee buying programs for large enterprises such as IBM and Walmart. We enable