EX-99.1 2 carg-ex99_1.htm EX-99.1 EX-99.1 Exhibit 99.1 CarGurus Announces Fourth Quarter and Full Year 2024 Results Q4’24 Marketplace revenue grew 15% YoY Q4’24 International revenue grew 26% YoY and OEM Advertising revenue grew double-digit YoY Q4'24 Consolidated GAAP Net Income of $45.9 million; Q4'24 Non-GAAP Consolidated Adjusted EBITDA of $76.4 million, up 25% YoY BOSTON, February 20, 2025 - CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles*, today announced financial results for the fourth quarter and year ended December 31, 2024. “We delivered exceptional results in 2024, with sustained revenue acceleration and significant margin expansion across geographies. Our Marketplace business achieved double-digit growth, driven by continued migration to premium tiers, strong OEM advertising demand, and growing adoption of our value-added products and services," said Jason Trevisan, Chief Executive Officer at CarGurus. “Our relentless focus on product innovation and our ability to enhance dealers’ ROI throughout their workflow resulted in higher engagement and increased wallet share as dealers con…
Open exhibit ↗Current Report · Items 2.02, 9.01 · 8-K
CarGurus, Inc.
CARGNASDAQEQUITYCurrent
Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On February 20, 2025, CarGurus, Inc. (the “Company”) announced its financial results for the quarter and year ended December 31, 2024. The full text of the press release issued by the Company in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.…
Company context
CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.1 with the largest selection of inventory and network of dealers. 2 CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey - from online research and shopping to in-dealership decisions - to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.