TrueCar : Q4 Presentation (TrueCar Q4 2024 Earnings Presentation)

Published: 2025-02-18 16:22:32 ET TRUE

S U P P L E M E N T A L M A T E R I A L S

Fourth Quarter 2024

Quarter Ended December 31, 2024

S U P P L E M E N T A L M A T E R I A L S

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 margins, 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, 2023 filed with the Securities and Exchange Commission, or SEC, and our Quarterly Report on Form 10-Q for the quarters ending March 31, 2024, June 30, 2024, and September 30, 2024 filed with the SEC, and our Annual Report on Form 10-K for the quarter ended December 31, 2024 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.

S U P P L E M E N T A L M A T E R I A L S

Q4 2024 Metrics Year over Year:

Revenue, Non-GAAP Expenses, and Adj. EBITDA

REVENUE

12%

Y/Y

$46.2M

$41.3M

Q4-23

Q4-24

NON-GAAP EXPENSES

17%

Y/Y

$45.8M

$39.2M

Q4-23

Q4-24

ADJ. EBITDA

5%1%

MarginMargin

$2.1M

$0.4M

Q4-23Q4-24

Note: See the reconciliations of net loss to Adjusted EBITDA and GAAP expenses to Non-GAAP expenses in the Appendix. Certain amounts may not add up due to rounding.

S U P P L E M E N T A L M A T E R I A L S

Q4 2024 Metrics Year over Year: Traffic, Dealer Count, and Units

TRAFFIC

(19%)

7.0M

Y/Y

5.7M

Q4-23

Q4-24

Avg. Monthly Unique Visitors

DEALER COUNT

(1%)

11,500

Y/Y

11,405

3,268

(7%)

3,054

Y/Y

8,232

8,351

Q4-23

Q4-24

Franchise

Independent

Dealers

UNITS

22%

Y/Y

93K

77K

Q4-23

Q4-24

S U P P L E M E N T A L M A T E R I A L S

Q4 2024 Metrics Quarter over Quarter: Traffic, Dealer Count, and Units

TRAFFIC

(18%)

Q/Q

6.9M

5.7M

Q3-24

Q4-24

Avg. Monthly Unique Visitors

DEALER COUNT

11,409

11,405

Q/Q

3,106

(2%)

3,054

Q/Q

8,303

8,351

Q3-24

Q4-24

Franchise

Independent

Dealers

UNITS

(1%)

Q/Q

95K

93K

Q3-24

Q4-24

S U P P L E M E N T A L M A T E R I A L S

Revenue ($ in Millions)

Net Franchise Revenue

Net Independent Revenue

OEM Revenue

Other Revenue

Other Dealer Product Revenue

$46.5

$39.3

$41.1

$41.3

$41.1

$41.8

$6.0

$36.7

$37.0

$2.9

$3.0

$2.6

$3.9

$0.2

$0.1

$0.2

$2.9

$4.4

$3.8

$3.5

$0.1

$4.9

$5.5

$4.9

$3.0

$0.1

$3.5

$6.6

$6.4

$0.8

$1.0

$7.0

$6.6

$7.4

$7.0

$6.7

$8.4

$23.5

$24.9

$25.8

$26.2

$26.0

$26.8

$28.0

$29.6

$46.2

$6.3 $0.2 $4.6 $6.0

$29.1

2022

2023

Note: Other Revenue includes revenue from Finance and Insurance offerings. Other Dealer Product Revenue includes our Access (including Trade and DealerScience), TrueCar Reach, Sell Your Car, Distance Retailing, Digital Motors, Wholesale, Marketing Solutions and Sponsored Listings offerings. Certain amounts may not add up due to rounding.

2024

Total Revenue Y/Y:

11%

13%

12%

Other Dealer Product Revenue Y/Y:

(26%)

(38%)

111%

112%

Other Revenue Y/Y:

30%

76%

56%

42%

OEM Incentives Revenue Y/Y:

368%

(14%)

(11%)

(15%)

Net Independent Revenue Y/Y:

(10%)

(6%)

(9%)

(10%)

Net Franchise Revenue Y/Y:

13%

12%

S U P P L E M E N T A L M A T E R I A L S

Franchise Dealer Overview

Franchise Dealer Count

Monthly Franchise Revenue Per Franchise Dealer (period avg.)

8,303

8,351

7,961

8,152

8,097

8,232

8,205

8,274

7,924

$1,134

$1,189

$1,163

$1,067

$1,077

$1,088

$1,046

$1,063

$1,000

2022

2023

2024

Franchise Dealer Count Y/Y:

Franchise Revenue / Dealer Y/Y:

10%

Franchise Dealer Count Q/Q:

Franchise Revenue / Dealer Q/Q:

-2%

S U P P L E M E N T A L M A T E R I A L S

Independent Dealer Overview

Independent Dealer Count

Monthly Independent Revenue Per Independent Dealer (period avg.)

4,148

3,871

3,489

3,406

3,268

3,183

3,200

3,106

3,054

$674

$616

$636

$674

$665

$687

$688

$672

$648

2022

2023

2024

Independent Dealer Count Y/Y:

(18%)

(8%)

(9%)

(7%)

Independent Revenue / Dealer Y/Y:

12%

(2%)

Independent Dealer Count Q/Q:

(3%)

(2%)

Independent Revenue / Dealer Q/Q:

(2%)

(4%)

S U P P L E M E N T A L M A T E R I A L S

Traffic (Millions)

Average Monthly Unique Visitors

8.7M

8.3M

8.1M

7.7M

7.4M

7.0M

6.9M

5.7M

2022

2023

2024

Y/Y Growth:

(11%)

(7%)

(15%)

(19%)

S U P P L E M E N T A L M A T E R I A L S

Units by Acquisition Channel (Thousands)

TrueCar.com

Extended Affinity

2022

2023

2024

Total Units Y/Y:

14%

22%

Extended Affinity Units Y/Y:

17%

22%

28%

Note: Certain amounts may not add up due to rounding.

TrueCar.com Units Y/Y:

(4%)

(9%)

10%

Disclaimer

TrueCar Inc. published this content on February 18, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 18, 2025 at 21:21:28.479.