CarGurus, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 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.
Sep 30, 2026 · Filed Nov 5, 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 EndedSeptember 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenue | $258,366 | $231,653 | $752,892 | $665,886 |
| Cost of revenue(1)(2) | 21,288 | 16,946 | 60,095 | 46,966 |
| Gross profit | 237,078 | 214,707 | 692,797 | 618,920 |
| Operating expenses | ||||
| Sales and marketing | 99,242 | 87,039 | 294,361 | 253,295 |
| Product, technology, and development | 38,493 | 34,139 | 114,301 | 102,892 |
| General and administrative | 27,522 | 25,546 | 82,212 | 75,597 |
| Impairments | — | — | 19,651 | 499 |
| Depreciation and amortization | 3,889 | 3,868 | 11,279 | 11,319 |
| Total operating expenses | 169,146 | 150,592 | 521,804 | 443,602 |
| Income from continuing operations | 67,932 | 64,115 | 170,993 | 175,318 |
| Other income, net | ||||
| Interest income | 1,182 | 2,292 | 3,809 | 7,524 |
| Other expense, net | (499) | (409) | (1,553) | (281) |
| Total other income, net | 683 | 1,883 | 2,256 | 7,243 |
| Income from continuing operations before income taxes | 68,615 | 65,998 | 173,249 | 182,561 |
| Provision for income taxes | 15,826 | 14,057 | 39,039 | 39,557 |
| Net income from continuing operations | 52,789 | 51,941 | 134,210 | 143,004 |
| Net loss from discontinued operations, net of tax benefits | — | (7,224) | — | (36,899) |
| Consolidated net income | $52,789 | $44,717 | $134,210 | $106,105 |
| Net income per share attributable to common stockholders (Note 11) | ||||
| Basic | ||||
| Continuing operations | $0.59 | $0.53 | $1.47 | $1.43 |
| Consolidated | $0.59 | $0.46 | $1.47 | $1.06 |
| Diluted | ||||
| Continuing operations | $0.59 | $0.52 | $1.46 | $1.41 |
| Consolidated | $0.59 | $0.45 | $1.46 | $1.04 |
| Weighted-average number of shares of common stock used in computing net income per share attributable to common stockholders | ||||
| Basic | 89,104,650 | 98,170,081 | 91,078,917 | 100,033,516 |
| Diluted | 90,120,994 | 99,722,575 | 92,079,729 | 101,640,190 |
(1)
For thethree months ended September 30, 2026 and 2025 and for the nine months ended September 30, 2026 and 2025, cost of revenue includes depreciation and amortization expense of$4.8 million,$2.5 million,$12.5 million, and$6.5 million, respectively.
(2)
For thethree months ended September 30, 2026 and 2025 and for the nine months ended September 30, 2025, there wasno impairment recorded in cost of revenue. For thenine months ended September 30, 2026, cost of revenue includes impairment of$0.5 million.
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