Company: TRUE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001327318-25-000065
Chunk: 229

Company: TrueCar, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 229
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ance, and stock-based compensation expenses for executive, finance, accounting, legal, and human resources functions. General and administrative expenses also include legal, accounting, and other third-party professional service fees, bad debt, gain or loss from lease exit, impairment of right-of-use assets, and facilities costs.

 Depreciation and Amortization. Depreciation consists primarily of depreciation expense recorded on property and equipment. Amortization expense consists primarily of amortization recorded on intangible assets, capitalized software costs, and leasehold improvements.

 Interest Income. Interest income consists of interest earned on our cash and cash equivalents.

Other Income. Other income consists entirely of a gain from a legal settlement.

Provision for Income Taxes. We are subject to federal and state income taxes in the United States. We provided a full valuation allowance against our net deferred tax assets at September 30, 2025 and December 31, 2024, as it is more likely than not that some or all of our deferred tax assets will not be realized. As a result of the valuation allowance, our income tax expense is significantly less than the federal statutory rate of 21%. For the nine months ended September 30, 2025 and 2024, our provision for income taxes reflects state income tax expense.

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Key Metrics

We regularly review a number of key metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections and make operating and strategic decisions.

 Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Average Monthly Unique Visitors5,555,943 6,862,059 5,619,740 7,436,985 Units (1)87,460 94,619 262,719 262,426 Monetization$491 $490 $512 $491 Franchise Dealer Count8,225 8,303 8,225 8,303 Independent Dealer Count2,794 3,106 2,794 3,106 

(1)We issued full credits of the amount originally invoiced with respect to 785 and 920 units during the three months ended September 30, 2025 and 2024, respectively. We issued full credits of the amount originally invoiced with respect to 2,629 and 2,759 units during the nine months ended September 30, 2025 and 2024, respectively. The number of units has