Company: TRUE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001327318-25-000036
Chunk: 197

Company: TrueCar, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 197
---
 valuation allowance as it is more likely than not that the Company’s net deferred tax assets will not be realized.There were no material changes to the Company’s unrecognized tax benefits in the six months ended June 30, 2025, and the Company does not expect to have significant changes to unrecognized tax benefits through the end of the fiscal year. The Company is subject to United States federal and state taxation. Due to the presence of net operating loss carryforwards, income tax years from 2014 through the present remain open for examination by the Internal Revenue Service (the “IRS”) and income tax years from 2008 through the present remain open for examination by various state taxing authorities. The Company is not currently under IRS or state tax examination.The One Big Beautiful Bill Act, which contains a broad range of changes to corporate taxation, was signed into law on July 4, 2025. The Company is currently evaluating the full effects of the legislation.

8.    Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Net loss$(7,627)$(13,520)$(17,763)$(19,368)Weighted average common shares outstanding, basic and diluted87,865 91,849 87,587 91,542 Net loss per share, basic and diluted$(0.09)$(0.15)$(0.20)$(0.21)

17

The following table presents the number of anti-dilutive shares excluded from the calculation of diluted loss per share at June 30, 2025 and 2024 (in thousands): June 30, 20252024Options to purchase common stock1,250 1,430 Unvested restricted stock units6,764 6,702 Unvested performance stock units4,546 3,254 Total shares excluded from net loss per share12,560 11,386 Share Repurchase ProgramIn July 2020, the Company’s board of directors originally authorized an open market stock repurchase program (the “Program”). In February 2024, the Company’s board of directors 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