TrueCar : Quarterly Results (TrueCar Q1 2025 Earnings Presentation Final)

Published: 2025-05-05 22:03:30 ET TRUE

Published on 05/05/2025 at 22:03

First Quarter 2025

Quarter Ended March 31, 2025

‌Important Information

This presentation contains forward-looking statements. All statements other than statements of historical fact contained in this presentation, including our expectations regarding future expected revenue growth and free cash flow, are forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause our results to differ materially from those expressed or implied by such forward-looking statements, and include, among others, those risks and uncertainties described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission, or SEC, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 to be filed with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement we may make. All forward-looking statements in this presentation are based on information available to our management as of the date of this presentation, and except as required by law, we assume no obligation to update any forward-looking statement, each of which speaks only as of the date of this presentation.

In addition to U.S. GAAP financial measures, this presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures is set forth in the Appendix to this presentation.

‌Q1 2025 Metrics Year over Year:

Revenue, Non-GAAP Expenses, and Adj. EBITDA

Q1-25

Q1-24

Y/Y

REVENUE

$41.1M

$44.8M

Q1-25

Q1-24

21%

Y/Y

NON-GAAP EXPENSES

$40.1M

$48.6M

Q1-25

Q1-24

($3.8)

(8%)

Margin

$0.9M

ADJ. EBITDA

Certain amounts may not add up due to rounding.

‌Q1 2025 Metrics Year over Year: Traffic, Dealer Count, and Units

(24%)

Y/Y

7.7M

5.8M

Q1-24

Q1-25

11,388

(1%)

Y/Y

11,272

3,183

(8%)

Y/Y

2,936

Y/Y

8,205

8,336

Q1-24

Q1-25

Y/Y

86K

79K

Q1-24

Q1-25

‌Q1 2025 Metrics Quarter over Quarter: Traffic, Dealer Count, and Units

Q/Q

Q4-24

Q1-25

TRAFFIC

5.7M

5.8M

11,405

(1%)

Q/Q

11,272

Q4-24

Q1-25

DEALER COUNT

8,336

8,351

2,936

Q/Q

(4%)

Q/Q

3,054

(8%)

Q/Q

Q4-24

Q1-25

UNITS

86K

93K

‌Revenue ($ in Millions)

Net Franchise Revenue Net Independent Revenue

OEM Revenue

Other Revenue

Other Dealer Product Revenue

$46.5

$46.2

$44.8

$41.1

$41.3

$41.1

$41.8

$6.0

$6.3

$37.0

$39.3

$2.9

$3.5

$0.1

$2.9

$4.9

$0.1

$3.0

$5.5

$0.1

$2.6

$4.9

$0.1

$3.9

$3.0

$0.2

$6.4

$0.2

$4.4

$4.6

$3.5

$0.1

$3.8

$6.6

$6.4

$6.0

$7.4

$1.0

$7.0

$6.7

$6.6

$29.6

$29.1

$24.9

$25.8

$26.2

$26.0

$26.8

$28.0

$28.5

2023 2024 2025

Total Revenue Y/Y:

13%

12%

Other Dealer Product Revenue Y/Y:

(38%)

111%

112%

147%

Other Revenue Y/Y:

76%

56%

42%

39%

OEM Incentives Revenue Y/Y:

(14%)

(11%)

(15%)

(22%)

Net Independent Revenue Y/Y:

(6%)

(9%)

(10%)

Net Franchise Revenue Y/Y:

13%

12%

Certain amounts may not add up due to rounding.

Franchise Dealer Count

Monthly Franchise Revenue Per Franchise Dealer (period avg.)

8,232

8,274

8,303

8,351

8,336

7,961

8,152

8,097

8,205

$1,189

$1,134

$1,163

$1,138

$1,046

$1,067

$1,077

$1,063

$1,088

‌Franchise Dealer Overview

2023 2024 2025

Franchise Dealer Count Y/Y:

Franchise Revenue / Dealer Y/Y:

10%

Franchise Dealer Count Q/Q:

Franchise Revenue / Dealer Q/Q:

(2%)

Independent Dealer Count

Monthly Independent Revenue Per Independent Dealer (period avg.)

3,871

2,936

$616

$665

$648

3,054

$672

3,106

$688

3,200

$687

3,183

$665

3,268

$674

3,406

$636

3,489

‌Independent Dealer Overview

2023 2024 2025

Independent Dealer Count Y/Y:

(8%)

(9%)

(7%)

(8%)

Independent Revenue / Dealer Y/Y:

(2%)

(3%)

Independent Dealer Count Q/Q:

(3%)

(2%)

(4%)

Independent Revenue / Dealer Q/Q:

(2%)

(4%)

Average Monthly Unique Visitors

5.7M

5.8M

6.9M

7.0M

7.7M

8.1M

8.3M

8.7M

‌Traffic (Millions)

2023 2024 2025

Y/Y Growth:

(7%)

(15%)

(19%)

(24%)

‌Units by Acquisition Channel (Thousands)

2023 2024 2025

Total Units Y/Y:

14%

22%

Extended Affinity Units Y/Y:

17%

22%

28%

19%

TrueCar.com Units Y/Y:

(9%)

10%

(9%)

‌Units by New vs. Used (Thousands)

2023 2024 2025

Total Units Y/Y:

14%

22%

Used Car Units Y/Y:

11%

14%

(6%)

New Car Units Y/Y:

16%

28%

23%

‌Monetization

$468

$474

$482

$492

$490

$495

$517

$518

$537

2023 2024 2025

Y/Y Growth:

(1%)

(8%)

$48.3

$46.3

$48.6

$45.8

$3.8

$44.6

$3.7

$40.3

$39.2

$40.1

$41.7

$7.7

$8.8

$11.5

$3.8

$5.4

$9.8

$4.2

$6.7

$7.6

$7.5

$6.4

$7.1

$6.5

$6.4

$24.9

$24.1

$22.2

$21.6

$21.4

$23.4

$24.6

$24.1

$24.5

$8.2

$7.0

$6.8

$7.0

$7.5

$6.3

$7.4

$6.5

$7.8

‌Non-GAAP Expenses ($ in Millions)

2023 2024 2025

‌Non-GAAP Expenses as a Percentage of Revenue

130.6%

10.3%

113.4%

108.5%

31.0%

9.4%

98.0%

95.0%

97.7%

99.8%

99.6%

99.1%

24.9%

9.2%

19.6%

10.2%

10.3%

13.0%

16.5%

19.1%

18.2%

15.6%

17.3%

15.6%

14.4%

16.9%

13.9%

67.3%

61.4%

54.0%

52.3%

52.0%

56.1%

52.9%

52.1%

54.6%

22.1%

17.9%

16.6%

17.0%

18.2%

15.1%

15.8%

14.1%

17.3%

2023 2024 2025

‌Non-GAAP Sales & Marketing Expenses ($ in Millions)

$23.4

$22.2

$21.6

$21.4

$11.5

$9.9

$7.6

$8.8

$8.5

$11.0

$8.2

$8.5

$9.1

$7.4

$8.3

$10.1

$8.4

$10.0

$7.6

$9.2

$6.0

$5.9

$5.3

$5.0

$5.3

$6.7

$5.7

$5.3

$4.3

$24.9 $24.1

$24.6 $24.1 $24.5

2023 2024 2025

‌Adjusted EBITDA ($ in Millions)

2.0%

5.0%

Adj. EBITDA

$2.1

2.3% 0.2% 0.4% 0.9%

($5.3)

($11.3)

$0.8

$0.9 $0.1 $0.2 $0.4

($3.8)

(8.5%)

(13.4%)

(30.6%)

2023 2024 2025

‌Appendix

‌Reconciliation of Net Loss to Adjusted EBITDA

(Unaudited)

1188

‌Reconciliation of GAAP Expenses to Non-GAAP Expenses

(Unaudited)

1199

Disclaimer

TrueCar Inc. published this content on May 05, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 06, 2025 at 01:53 UTC.