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
CARG$34.59+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating Activities | ||
| Consolidated net income | $134,210 | $106,105 |
| Adjustments to reconcile consolidated net income to net cash provided by operating activities | ||
| Depreciation and amortization | 23,821 | 20,592 |
| Currency loss (gain) on foreign denominated transactions | 197 | (446) |
| Other non-cash income, net | — | (101) |
| Deferred taxes | 12,575 | 13,966 |
| Provision for doubtful accounts | 2,143 | 2,047 |
| Stock-based compensation expense | 39,633 | 38,552 |
| Amortization of deferred financing costs | 474 | 387 |
| Amortization of deferred contract costs | 14,510 | 11,986 |
| Impairments | 20,161 | 32,552 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (7,383) | 3,404 |
| Inventory | — | 338 |
| Prepaid expenses, prepaid income taxes, and other assets | 14,790 | (8,452) |
| Deferred contract costs | (13,489) | (13,707) |
| Accounts payable | 1,948 | 4,227 |
| Accrued expenses, accrued income taxes, and other liabilities | 3,994 | (6,058) |
| Deferred revenue | 2,091 | 1,933 |
| Lease obligations | (4,422) | 4,838 |
| Net cash provided by operating activities | 245,253 | 212,163 |
| Investing Activities | ||
| Purchases of property and equipment | (1,949) | (5,185) |
| Capitalization of website development costs | (18,596) | (17,447) |
| Net cash used in investing activities | (20,545) | (22,632) |
| Financing Activities | ||
| Proceeds from issuance of common stock upon exercise of stock options | 55 | 429 |
| Payment of withholding taxes on net share settlements of restricted stock units | (20,989) | (22,704) |
| Repurchases of common stock | (225,069) | (294,887) |
| Payment of excise tax for repurchase of common stock | (2,654) | (682) |
| Payment of deferred financing costs | (691) | — |
| Payment of finance lease obligations | (65) | (60) |
| Change in gross advance payments received from third-party transaction processor | — | (1,084) |
| Net cash used in financing activities | (249,413) | (318,988) |
| Impact of foreign currency on cash, cash equivalents, and restricted cash | (903) | 2,083 |
| Net decrease in cash, cash equivalents, and restricted cash | (25,608) | (127,374) |
| Cash, cash equivalents, and restricted cash at beginning of period | 190,518 | 306,229 |
| Cash, cash equivalents, and restricted cash at end of period | $164,910 | $178,855 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for income taxes, net of refunds | $7,066 | $17,720 |
| Cash paid for operating lease liabilities | $17,276 | $14,453 |
| Cash paid for interest | $460 | $490 |
| Supplemental noncash disclosure of cash flow information | ||
| Unpaid purchases of property and equipment and capitalized website development costs | $862 | $1,171 |
| Capitalized stock-based compensation expense in website development and internal-use software costs | $4,019 | $5,234 |
| Unpaid repurchases of common stock | $— | $454 |
| Unpaid excise tax on repurchases of common stock | $1,674 | $2,298 |
| Obtaining a right-of-use asset in exchange for an operating lease liability | $— | $1,139 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.