CarGurus, Inc.
For the period ended Mar 31, 2026. Filed May 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Income Statements
(in thousands, except share and per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenue | $243,555 | $212,235 |
| Cost of revenue(1)(2) | 18,934 | 14,343 |
| Gross profit | 224,621 | 197,892 |
| Operating expenses | ||
| Sales and marketing | 97,484 | 83,669 |
| Product, technology, and development | 37,671 | 35,028 |
| General and administrative | 26,481 | 24,785 |
| Impairments | 19,201 | — |
| Depreciation and amortization | 3,705 | 3,756 |
| Total operating expenses | 184,542 | 147,238 |
| Income from continuing operations | 40,079 | 50,654 |
| Other income, net | ||
| Interest income | 1,671 | 3,098 |
| Other expense, net | (606) | (302) |
| Total other income, net | 1,065 | 2,796 |
| Income from continuing operations before income taxes | 41,144 | 53,450 |
| Provision for income taxes | 8,916 | 11,376 |
| Net income from continuing operations | 32,228 | 42,074 |
| Net loss from discontinued operations, net of tax benefits | — | (3,029) |
| Consolidated net income | $32,228 | $39,045 |
| Net income per share attributable to common stockholders (Note 11) | ||
| Basic | ||
| Continuing operations | $0.34 | $0.41 |
| Consolidated | $0.34 | $0.38 |
| Diluted | ||
| Continuing operations | $0.34 | $0.40 |
| Consolidated | $0.34 | $0.37 |
| Weighted-average number of shares of common stock used in computing net income per share attributable to common stockholders | ||
| Basic | 94,055,057 | 103,094,690 |
| Diluted | 95,096,141 | 105,068,046 |
(1)
For thethree months ended March 31, 2026 and 2025, cost of revenue includes depreciation and amortization expense of$3.5 million, and$1.9 million, respectively.
(2)
For thethree months ended March 31, 2026, cost of revenue includes impairment of$0.5 million. For the three months ended March 31, 2025, there wasno impairment recorded in cost of revenue.
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