Company: TRUE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001327318-25-000006
Chunk: 163

Company: TrueCar, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 163
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 Net cash used in operating activities also reflected a decrease of $5.5 million from changes in operating assets and liabilities, which primarily reflected a decrease in operating lease liabilities of $5.2 million, a decrease in accounts payable of $2.8 million, a decrease in accrued expenses and other current liabilities of $1.4 million, which was primarily due to a decrease in marketing fees payable to our affinity group partners and advertisers, an increase in prepaid expenses and other assets of $0.2 million, and offset by a decrease in accounts receivable of $2.2 million, which was primarily due to a reduction in revenue and an increase in accrued employee expenses of $1.9 million.

 Investing Activities

Cash used in investing activities of $7.9 million during 2024 consists primarily of investments in software and computer hardware.

Cash used in investing activities of $11.8 million during 2023 consists primarily of investments in software and computer hardware.

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Cash used in investing activities of $8.0 million during 2022 consisted primarily of $12.1 million paid for our acquisition of Digital Motors and $11.7 million investments in software and computer hardware, offset by $15.7 million received from the sale of our equity method investment in Accu-Trade.

Financing Activities

Cash used in financing activities of $25.0 million during 2024 primarily represents payments of 20.1 million for the repurchase of our common stock, taxes paid of $3.3 million for the net share settlement of certain equity awards, and a $1.6 million payment for the second tranche of contingent cash consideration associated with our acquisition of Digital Motors.

Cash used in financing activities of $4.3 million during 2023 primarily represents taxes paid of $3.1 million for the net share settlement of certain equity awards and a $1.9 million payment for the first tranche of contingent cash consideration associated with our acquisition of Digital Motors. These decreases were offset by proceeds received of $0.7 million from the exercise of employee stock options.

Cash used in financing activities of $32.5 million during 2022 primarily represents payments of $29.8 million for the repurchase of our common stock and taxes paid of $2.9 million for the net share settlement of certain equity awards. These decreases were offset by proceeds received of $0.2 million from the exercise of employee stock options.

Contractual Obligations and Known Future Cash Requirements

The Company’s material cash requirements