Quarterly ResultMay 7, 2026, 04:21 PM
CarGurus Q1 Revenue +15% to $243.6M; Non-GAAP EBITDA $80.2M
AI Summary
CarGurus announced its first quarter 2026 financial results, reporting a 15% year-over-year revenue increase to $243.6 million, aligning with its guidance. Non-GAAP Adjusted EBITDA from continuing operations reached $80.2 million, exceeding the high end of guidance, while GAAP Net Income from continuing operations decreased 23% year-over-year to $32.2 million, impacted by impairments. The company also repurchased $175 million in shares during the quarter and provided Q2 and full-year 2026 guidance.
Key Highlights
- Q1 2026 revenue grew 15% YoY to $243.6 million, meeting guidance midpoint.
- Q1 2026 GAAP Net Income from continuing operations was $32.2 million, down 23% YoY.
- Q1 2026 Non-GAAP Adjusted EBITDA from continuing operations was $80.2 million, above guidance.
- CarGurus repurchased $175 million worth of shares in Q1 2026.
- Total Paying Dealers increased 7% YoY to 34,596.
- Consolidated Quarterly Average Revenue per Subscribing Dealer (QARSD) grew 8% YoY to $6,647.
- Q2 2026 revenue guidance is $247.0 million to $252.0 million.
- Full-Year 2026 revenue change guidance is 10% to 13% YoY growth.