Company: TRUE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001327318-25-000036
Chunk: 164

Company: TrueCar, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 164
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 increased the remaining authorization of the Program to $100 million and extended the expiration date of the Program to December 31, 2026. The timing and amount of any repurchases under the Program will be determined by Company management based on its evaluation of market conditions and other factors. Repurchases of the Company’s common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be 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 the Company to purchase any minimum number of shares. The Company had no share repurchases during the six months ended June 30, 2025. Between June 2024 and the end of 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 June 30, 2025, the Company had a remaining authorization of $80 million for future share repurchases.

9.    Revenue Information

Disaggregation of RevenueThe Company disaggregates revenue into three revenue streams: dealer revenue, OEM incentives revenue, and other revenue. The following table presents the Company’s revenue categories during the periods presented (in thousands): Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Dealer revenue$43,224 $38,556 $84,063 $74,602 OEM incentives revenue3,601 3,008 7,374 7,872 Other revenue173 231 371 373 Total revenues$46,998 $41,795 $91,808 $82,847 Contract BalancesThe Company’s contract asset balance for estimated variable consideration to be received upon the occurrence of subsequent vehicle sales is included within other current assets and is distinguished from accounts receivable in that these amounts are conditional upon subsequent sales and not only upon the passage of time. Substantially all of the contract asset balance of $1.0 million at December 31, 2024 was transferred to accounts receivable during the six months ended June 30, 2025 as vehicle sales occurred, with no significant changes in