TrueCar reports second quarter 2019 financial results

TrueCar today announced its financial results for the second quarter ended June 30, 2019.

Second Quarter 2019 Financial Highlights

  • Second quarter total revenue relatively flat from a year ago at $88.1 million.
  • Second quarter net loss of $(24.1) million, or $(0.23) per share, compared to net loss of $(6.6) million, or $(0.07) per share, in the second quarter of 2018.
  • Second quarter Non-GAAP net loss(1) of $(2.2) million, or $(0.02) per share, compared to Non-GAAP net income of $3.2 million, or $0.03 per share, in the second quarter of 2018.
  • Second quarter Adjusted EBITDA(2) of $3.7 million, representing an Adjusted EBITDA margin(3) of 4.1%, compared to Adjusted EBITDA of $8.7 million, representing an Adjusted EBITDA margin of 9.9%, in the second quarter of 2018.

Key Operating Metrics

  • Average monthly unique visitors(4) decreased 7% to 7.2 million in the second quarter of 2019, down from 7.8 million in the second quarter of 2018.
  • Units(5) were 249,856 in the second quarter of 2019, compared to 250,269 in the second quarter of 2018.
  • Monetization(6) was $333 during the second quarter of 2019, compared to $332 during the second quarter of 2018.
  • Franchise dealer count(7) was 12,681 as of June 30, 2019, compared to 12,368 as of June 30, 2018.
  • Independent dealer count(8) was 4,014 as of June 30, 2019, compared to 3,166 as of June 30, 2018.

SOURCE: TrueCar


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