NASDAQ$CARG
Cargurus Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
CarGurus' Q2 2024 financial results were announced, showing marketplace revenue accelerated and non-GAAP adjusted EBITDA increased.
CarGurus announced its Q2 2024 results, with marketplace revenue up 14% year-over-year, marking the third consecutive quarter of double-digit growth. The company's Non-GAAP Adjusted EBITDA was $55.6 million, a 23% increase year-over-year. CarGurus also repurchased $61 million worth of shares during the quarter.
- Marketplace revenue increased 14% year-over-year.
- Non-GAAP Adjusted EBITDA increased 23% year-over-year to $55.6 million.
- The company repurchased $61 million of shares.
- Total paying dealers increased 1% year-over-year to 31,352.
Headline financials
Revenue & EPS history
Cargurus · Revenue · Quarterly
$219M
Forward guidance
CarGurus provided guidance for the third quarter of 2024, expecting total revenue between $212 million and $232 million, marketplace revenue between $199 million and $204 million, Non-GAAP Consolidated Adjusted EBITDA between $56 million and $64 million, and Non-GAAP EPS between $0.38 and $0.44.
Tailwinds
- Total Revenue: $212 million to $232 million
- Marketplace Revenue: $199 million to $204 million
- Non-GAAP Consolidated Adjusted EBITDA: $56 million to $64 million
- Non-GAAP EPS: $0.38 to $0.44
- Assumes 105.0 million diluted weighted-average common shares outstanding.
Headwinds
- Excludes macro-level industry issues that result in dealers and consumers materially changing their recent market trends or that cause the company to enact measures to assist dealers.
- Excludes any potential impact of foreign currency exchange gains or losses.
- Reconciling items between GAAP and non-GAAP financial measures, which include stock-based compensation, amortization of intangible assets, goodwill and other long-lived asset impairment, depreciation expenses, non-intangible amortization, transaction-related expenses, other income, net, the (benefit from) provision for income taxes, and income tax effects, cannot be reasonably predicted.
- The timing, amount, valuation, and number of future employee equity awards are uncertain.
- The timing, frequency and effect of acquisitions and the significance of the resulting transaction-related expenses are uncertain.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+2.3%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
64%
25 / 39 earnings
Positive
+49.8%
Q4 2021
Best reaction
-27.5%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.9% | -18.1% | -28.1% | |
| Q4 2025 | +3.2% | +3.6% | +15.1% | |
| Q3 2025 | +0.6% | +7.6% | +8.2% | |
| Q1 2025 | +11.2% | +20.4% | +14.4% | |
| Q4 2024 | -17.1% | -17.0% | -19.9% | |
| Q3 2024 | +5.8% | +14.0% | +16.6% | |
| Q2 2024 | +21.8% | +28.5% | +23.2% | |
| Q1 2024 | +9.3% | +10.6% | +18.2% | |
| Q4 2023 | -1.3% | -4.9% | -3.5% | |
| Q3 2023 | +3.6% | +3.2% | +15.4% | |
| Q2 2023 | -7.3% | -7.2% | -5.8% | |
| Q1 2023 | +15.8% | +17.3% | +26.8% | |
| Q4 2022 | +6.4% | +2.4% | +6.4% | |
| Q3 2022 | -10.8% | +3.3% | -6.2% | |
| Q2 2022 | -25.4% | -21.7% | -26.5% | |
| Q1 2022 | -27.5% | -20.1% | -19.7% | |
| Q4 2021 | +49.8% | +50.0% | +33.5% | |
| Q3 2021 | +5.9% | +7.3% | +2.6% | |
| Q2 2021 | +7.5% | +3.5% | +3.3% | |
| Q1 2021 | +11.4% | +17.0% | +7.7% | |
| Q4 2020 | -9.8% | -15.0% | -29.4% | |
| Q3 2020 | +6.5% | +4.5% | +16.2% | |
| Q2 2020 | -2.3% | -10.5% | -24.6% | |
| Q1 2020 | +2.9% | -7.8% | +9.4% | |
| Q4 2019 | -27.3% | -24.3% | -38.8% | |
| Q3 2019 | +5.1% | +10.1% | +12.0% | |
| Q2 2019 | -4.0% | -6.8% | -3.8% | |
| Q1 2019 | -2.0% | -2.8% | -12.5% | |
| Q4 2018 | -5.3% | -6.5% | -6.1% | |
| Q3 2018 | -1.0% | -3.2% | -16.4% | |
| Q2 2018 | +20.3% | +16.1% | +8.1% | |
| Q1 2017 | +1.0% | +2.5% | +5.4% | |
| Q1 2018 | +1.0% | +2.5% | +5.4% | |
| Q2 2017 | +11.4% | +11.7% | +19.2% | |
| Q4 2017 | +11.4% | +11.7% | +19.2% | |
| Q4 2015 | +11.4% | +11.7% | +19.2% | |
| Q4 2016 | +5.0% | +4.3% | +1.9% | |
| Q3 2016 | +5.0% | +4.3% | +1.9% | |
| Q3 2017 | +5.0% | +4.3% | +1.9% | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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