Company: TRUE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001327318-25-000036
Chunk: 216

Company: TrueCar, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 216
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 by the global automobile semiconductor chip shortage. To the extent that existing cash and cash equivalents and cash from operations are insufficient to fund our future activities, we may need to raise additional funds through public or private equity or debt financing. Additional funds may not be available on terms favorable to us or at all.

Share Repurchase Program

In the third quarter of 2020, our board of directors originally authorized an open market stock repurchase program (the “Program”). In February 2024, our 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 is determined by us based on our evaluation of market conditions and other factors. Repurchases of our common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when we 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 us to purchase any minimum number of shares. The Company had no share repurchases during the six months ended June 30, 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 June 30, 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: Six Months Ended June 30, 20252024Consolidated Cash Flow Data:(in thousands)Net cash (used in) provided by operating activities$(10,722)$46 Net cash used in investing activities(4,640)(4,181)Net cash used in financing activities(3,955)(4,875)Net decrease in cash, cash equivalents and restricted cash$(19,317)$(9,010)

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