Company: TRUE
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001327318-25-000016
Chunk: 218

Company: TrueCar, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 218
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 precluded from doing so under insider trading laws, open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws. The Program may be suspended or discontinued at any time and does not obligate us to purchase any minimum number of shares. The Company had no share repurchases during the three months ended March 31, 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 March 31, 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: Three Months Ended March 31, 20252024Consolidated Cash Flow Data:(in thousands)Net cash (used in) provided by operating activities$(7,895)$2,049 Net cash used in investing activities(2,675)(2,560)Net cash used in financing activities(3,239)(2,766)Net decrease in cash, cash equivalents and restricted cash$(13,809)$(3,277)

Operating Activities 

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

31

Cash used in operating activities for the three months ended March 31, 2025 was $7.9 million. This was primarily comprised of our net loss of $10.1 million, adjusted for non-cash items such as, depreciation and amortization expense of $3.9 million, stock-based compensation expense of $3.3 million, amortization of lease right-of-use assets of $0.3 million, and other non-cash expenses of $0.3 million. Net cash used in operations also reflected a decrease of $5.7 million from changes in operating assets and liabilities, which primarily reflected a decrease in accrued expenses and other current liabilities of $4.6 million, a decrease in accrued employee expenses of $1.7 million, an increase in prepaid expenses and other assets of $1.4 million,