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    Cars.com Reports First Quarter 2025 Results

    5/8/25 7:30:00 AM ET
    $CARS
    EDP Services
    Technology
    Get the next $CARS alert in real time by email

    Delivered Q1 Revenue of $179 Million, Driven by OEM and National Revenue Growth of 6% YoY

    Reached 19,250 Dealer Customers, Reflecting Strong Solutions Adoption

    Achieved New Quarterly Record of 29 Million Average Monthly Unique Visitors

    Repurchased 1.6 Million Shares

    CHICAGO, May 8, 2025 /PRNewswire/ -- Cars.com Inc. (NYSE:CARS) (d/b/a "Cars Commerce Inc." or the "Company"), an audience-driven technology company empowering the automotive industry, today released its financial results for the first quarter ended March 31, 2025.

    Cars Commerce (PRNewsfoto/Cars.com Inc.)

    "We were encouraged to see growing momentum across our core marketplace and solutions portfolio as the first quarter progressed. Dealer count improvement, coupled with record unique visitors to Cars.com, signal that we are winning share in our key end markets at a critical time when the automotive industry is seeking trusted, efficient, and highly effective tools to cut through external noise," said Alex Vetter, Chief Executive Officer of Cars Commerce. "As laid out at the start of the year, our priority in the second quarter is to reaccelerate dealer revenue growth by advancing growth initiatives, such as marketplace and website repackaging and increasing adoption of used car products. Simultaneously, we have also taken steps to actively manage costs in light of elevated uncertainty in the external environment. We expect to continue delivering strong Adjusted EBITDA margins over the next several quarters. Our goals and strategic vision remain unchanged, and we are focused on executing our 2025 roadmap while staying responsive to evolving operating conditions."

    Q1 2025 Financial Highlights

     

    (in thousands, except per share data)

    Quarter Ended March 31,







    2025



    2024



    Change %



    Total Revenue

    $              179,024



    $               180,176



    (1 %)



    Net (loss) income

    (2,013)



    784



    NM



    Adjusted net income

    23,956



    28,663



    (16 %)



    Adjusted EBITDA

    50,721



    52,673



    (4 %)



    Net (loss) income per diluted share

    (0.03)



    0.01



    NM



    Adjusted net income per diluted share

    0.37



    0.43



    (14 %)



    NM = Not meaningful

     

    Q1 2025 Key Metrics and Operational Highlights

     

     

    (in millions, except dealer data)

    Quarter Ended





    March 31,

    2025



    December 31,

    2024



    March 31,

    2024



    Change %

    Q/Q



    Change %

    Y/Y

    Average Monthly Unique Visitors

    29.0



    23.1



    28.3



    26 %



    3 %

    Traffic ("Visits")

    170.1



    143.8



    171.4



    18 %



    (1 %)

    Monthly Average Revenue Per Dealer ("ARPD")

    $            2,473



    $              2,475



    $          2,505



    NM



    (1 %)

    Dealer Customers

    19,250



    19,206



    19,381



    NM



    (1 %)

    NM = Not meaningful

     

    • Average Monthly Unique Visitors set a new record in the first quarter, exceeding 29.0 million and up 3% year-over-year from strategic shifts in marketing investments, which also helped capture strong demand from shoppers who accelerated vehicle purchases late in the quarter likely due to tariff uncertainty
    • Dealer Customers grew to 19,250, up over 40 dealers quarter-over-quarter, returning to sequential growth
    • AccuTrade appraisals of 813,000 grew 16% quarter-over-quarter and 31% year-over-year, a meaningful increase in utilization as customer engagement continues to improve
    • DealerClub grew active users by over 60% and nearly doubled the volume of completed auctions from February to March following its acquisition in January 2025

    "Our complete used car solution is uniquely positioned to help dealers acquire the right car at the right price amid rising competition for inventory. AccuTrade enables service lane acquisitions from consumers, an important and underutilized source of inventory that generates as much as $2,700 in additional profit per unit by eliminating transport and other fees and uncovering hidden reconditioning costs," said Vetter. "DealerClub is also seeing early success from users seeking a transparent and high-quality alternative to traditional wholesale auctions. Adoption of these solutions is timely given recently lowered vehicle production outlook in 2025, and also reinforces our platform advantage in simplifying dealership operations."

    Q1 2025 Results

    Revenue for the first quarter totaled $179.0 million, down slightly compared to the prior year period. Subscription-based Dealer revenue was down 2% year-over-year, impacted by continuing macroeconomic-related pressures on dealers' marketing and advertising spend, which was partially offset by solutions adoption across websites and appraisal technology. OEM and National revenue grew 6% year-over-year as automakers continue to compete for consumer awareness and purchasing consideration.

    Total operating expenses for the first quarter were $172.6 million, compared to $167.4 million for the prior year period. Operating expenses included costs associated with the January 2025 acquisition of DealerClub, which were absent in the prior year period. In addition, General and administrative expenses included higher severance-related costs, partially offset by lower costs associated with our amended headquarters office lease, as compared to the prior year period. Adjusted operating expenses for the quarter were $155.3 million, flat compared to the prior year period from disciplined cost management.

    Net loss for the first quarter was ($2.0) million, or ($0.03) per diluted share, compared to Net income of $0.8 million, or $0.01 per diluted share, in the first quarter of 2024. The change in Net (loss) income is primarily attributable to severance costs related to targeted headcount reductions in the first quarter. Adjusted net income for the quarter was $24.0 million, or $0.37 per diluted share, compared to $28.7 million, or $0.43 per diluted share a year ago. Adjusted EBITDA for the first quarter totaled $50.7 million, or 28.3% of revenue.

    Cash Flow and Balance Sheet

    Net cash provided by operating activities for the first quarter was $29.5 million, compared to $33.5 million in the prior year. Free cash flow for the first quarter totaled $23.7 million, compared to $27.5 million in the prior year, and reflected Adjusted EBITDA performance for the period.

    The Company's total debt outstanding was $460.0 million as of March 31, 2025. The Company's total net leverage (as defined in the Company's credit facility) was 2.1x as of March 31, 2025, within its target total net leverage range of 2.0x to 2.5x. Total liquidity as of March 31, 2025 was $321.4 million, which is defined as Cash and cash equivalents of $31.4 million and revolver capacity of $290.0 million.

    Share Repurchases

    The Company executed on its capital allocation strategy with the repurchase of 1.6 million shares of common stock for $21.5 million in the first quarter. The Company continues to target share repurchases totaling $60 to $70 million for 2025, demonstrating its commitment to return capital to shareholders.

    "We were pleased to deliver strong Adjusted EBITDA margin that exceeded our first quarter guidance range, driving efficiencies in the business while supporting ongoing growth investments and deepening our product differentiation," said Sonia Jain, Chief Financial Officer of Cars Commerce. "Looking ahead, we have confidence that our asset-light model and robust balance sheet and free cash flow generation put us in a strong position to execute our strategy for the remainder of the year."

    Second Quarter 2025 and FY 2025 Outlook

    While OEM and dealer partners remain committed to investments in Cars Commerce solutions, it is likely that the magnitude and timing of some spending will continue to shift until the macroeconomic environment stabilizes. In light of this heightened volatility and uncertainty related to the automotive industry outlook and tariff impacts, the Company is suspending full year 2025 revenue guidance and will provide an update when visibility improves. The Company's 2025 growth initiatives remain intact, which include driving product adoption, broad-based repackaging efforts, and continued product innovation.

    Additionally, the Company is reaffirming Full Year Adjusted EBITDA margin guidance of 29% to 31% and expects Adjusted EBITDA margins in the second quarter of 2025 to be between 27% and 29%. Adjusted EBITDA margin guidance reflects the Company's confidence in managing operating levers across a range of macroeconomic scenarios.

    Q1 2025 Earnings Call

    As previously announced, management will hold a conference call and webcast today at 8:00 a.m. CT. This webcast may be accessed at the Cars Commerce Investor Relations website, investor.cars.com. An archive of the webcast will be available at investor.cars.com following the conclusion of the call.

    About Cars Commerce

    Cars Commerce is an audience-driven technology company empowering the automotive industry. The Company simplifies everything about car buying and selling with powerful products, solutions and AI-driven technologies that span pretail, retail and post-sale activities – enabling more efficient and profitable retail operations. The Cars Commerce platform is organized around four industry-leading brands: the flagship automotive marketplace and dealer reputation site Cars.com, award-winning technology and digital retail technology and marketing services from Dealer Inspire, essential trade-in and appraisal technology from AccuTrade, a reputation-based dealer-to-dealer wholesale auction from DealerClub and exclusive in-market media solutions from the Cars Commerce Media Network. Learn more at www.carscommerce.inc.

    Non-GAAP Financial Measures

    This earnings release discusses Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net (loss) income, Free Cash Flow and Adjusted Operating Expenses. These financial measures are not prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). These financial measures are presented as supplemental measures of operating performance because the Company believes they provide meaningful information regarding the Company's performance and provide a basis to compare operating results between periods. In addition, the Company uses Adjusted EBITDA as a measure for determining incentive compensation targets. Adjusted EBITDA also is used as a performance measure under the Company's credit agreement and includes adjustments such as the items defined below and other further adjustments, which are defined in the credit agreement. These non-GAAP financial measures are frequently used by the Company's lenders, securities analysts, investors and other interested parties to evaluate companies in the Company's industry.

    While a reconciliation of non-GAAP measures to corresponding GAAP measures is not available on a  forward-looking basis without unreasonable effort due to, as applicable, the timing, amount, valuation and number of future employee equity awards and the uncertainty relating to the timing, frequency, and effect of acquisitions and the significance of the resulting transaction-related expenses, the Company has provided a reconciliation of non-GAAP financial measures to their most directly comparable financial measure prepared in accordance with GAAP in this earnings release, see "Non-GAAP Reconciliations" below.

    Other companies may define or calculate these measures differently, limiting their usefulness as comparative measures. Because of these limitations, non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP. Definitions of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures are presented in the tables below.

    The Company defines Adjusted EBITDA as net income (loss) before (1) interest expense, net, (2) income tax (benefit) expense, (3) depreciation, (4) amortization of intangible assets, (5) stock-based compensation expense, (6) unrealized mark-to-market adjustments and cash transactions related to derivative instruments, (7) unrealized foreign currency exchange gains and losses, and (8) certain other items, such as transaction-related items, severance, transformation and other exit costs and write-off and impairments of goodwill, intangible assets and other long-lived assets.

    Transaction-related items result from actual or potential transactions such as business combinations, mergers, acquisitions, dispositions, spin-offs, financing transactions, and other strategic transactions, including, without limitation, (1) transaction-related bonuses and (2) expenses for advisors and representatives such as investment bankers, consultants, attorneys and accounting firms. Transaction-related items may also include, without limitation, transition and integration costs such as retention bonuses and acquisition-related milestone payments to acquired employees, consulting, compensation and other incremental costs associated with integration projects, fair value changes to contingent considerations and amortization of deferred revenue related to the AccuTrade acquisition.

    The Company defines Adjusted Net Income as GAAP net (loss) income excluding, net of their related tax effects: (1) amortization of intangible assets, (2) stock-based compensation expense, (3) unrealized mark-to-market adjustments and cash transactions related to derivative instruments, (4) unrealized foreign currency exchange gains and losses, and (5) certain other items, such as transaction-related costs, severance, transformation and other exit costs and write-off and impairments of goodwill, intangible assets and other long-lived assets.

    The Company defines Free Cash Flow as net cash provided by operating activities less capital expenditures, including purchases of property and equipment and capitalization of internally developed technology.

    The Company defines Adjusted Operating Expenses as total operating expenses adjusted to exclude stock-based compensation, write-off and impairments of goodwill, intangible assets, long-lived assets, severance, transformation and other exit costs and transaction-related items.

    Key Metric Definitions

    Average Monthly Unique Visitors ("UVs") and Traffic ("Visits"). The Company defines UVs in a given month as the number of distinct visitors that engage with its platform during that month. Visitors are identified when a user first visits an individual Cars.com property on an individual device/browser combination or installs one of its mobile apps on an individual device. If a visitor accesses more than one of its web properties or apps or uses more than one device or browser, each of those unique property/browser/app/device combinations counts toward the number of UVs. Traffic is defined as the number of visits to Cars.com desktop and mobile properties (responsive sites and mobile apps). The Company measured UVs and Traffic via RudderStack. These metrics do not include traffic to Dealer Inspire, D2C Media, or DealerClub websites.

    Monthly Average Revenue Per Dealer ("ARPD"). The Company believes that its ability to grow ARPD is an indicator of the value proposition of its platform. The Company defines ARPD as Dealer revenue, excluding digital advertising services and DealerClub, during the period divided by the monthly average number of Dealer Customers during the same period.

    Dealer Customers. Dealer Customers represent dealerships using the Company's products as of the end of each reporting period. Each physical or virtual dealership location is counted separately, whether it is a single-location proprietorship or part of a large, consolidated dealer group. Multi-franchise dealerships at a single location are counted as one dealer. Dealer Customer metrics do not include DealerClub.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical facts are forward-looking statements. These statements often use words such as "believe," "expect," "project," "anticipate," "outlook," "intend," "strategy," "plan," "estimate," "target," "seek," "will," "may," "would," "should," "could," "forecasts," "mission," "strive," "more," "goal" or similar expressions. Forward-looking statements are based on our current expectations, beliefs, strategies, estimates, projections and assumptions, experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments, and other factors we think are appropriate. Such forward-looking statements are based on estimates and assumptions that, while considered reasonable by Cars Commerce and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. While Cars Commerce and its management make such statements in good faith and believe such judgments are reasonable, you should understand that these statements are not guarantees of future strategic action, performance or results. Our actual results, performance, achievements, strategic actions or prospects could differ materially from those expressed or implied by these forward-looking statements. Given these uncertainties, you should not rely on forward-looking statements in making investment decisions. When we make comparisons of results between current and prior periods, we do not intend to express any future trends, or indications of future performance, unless expressed as such, and you should view such comparisons as historical data. Whether or not any such forward-looking statement is in fact achieved will depend on future events, some of which are beyond our control.

    Forward-looking statements are subject to a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results and strategic actions to differ materially from those expressed in the forward-looking statements contained in this press release. For a detailed discussion of many of these and other risks and uncertainties, see "Part I, Item 1A., Risk Factors" and "Part II, Item 7., Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission ("SEC") on February 27, 2025 and our other filings filed with the SEC and available on our website at investor.cars.com or via EDGAR at www.sec.gov.

    You should evaluate all forward-looking statements made in this press release in the context of these risks and uncertainties. The forward-looking statements contained in this press release are based only on information currently available to us and speak only as of the date of this press release. We undertake no obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise. The forward-looking statements in this report are intended to be subject to the safe harbor protection provided by the federal securities laws.

    Cars Commerce Investor Relations Contact:

    Katherine Chen

    [email protected]

    408.768.6847

    Cars Commerce Media Contact:

    Marita Thomas

    [email protected]

    312.601.5692

    Cars.com Inc

    Consolidated Statements of Income

    (In thousands, except per share data)

    (Unaudited)











    Three Months Ended March 31,



    2025



    2024

    Revenue:







    Dealer

    $               159,144



    $               161,815

    OEM and National

    16,279



    15,307

    Other

    3,601



    3,054

    Total revenue

    179,024



    180,176

    Operating expenses:







    Cost of revenue and operations

    30,939



    29,962

    Product and technology

    28,478



    28,085

    Marketing and sales

    60,225



    59,163

    General and administrative

    25,883



    22,857

    Depreciation and amortization

    27,039



    27,365

    Total operating expenses

    172,564



    167,432

    Operating income

    6,460



    12,744

    Nonoperating expenses:







    Interest expense, net

    (7,668)



    (8,321)

    Other expense, net

    (25)



    (3,603)

    Total nonoperating expense, net

    (7,693)



    (11,924)

    (Loss) income before income taxes

    (1,233)



    820

    Income tax expense

    780



    36

    Net (loss) income

    $                  (2,013)



    $                      784

    Weighted-average common shares outstanding:







    Basic

    64,467



    66,318

    Diluted

    64,467



    67,291

    (Loss) earnings per share:







    Basic

    $                    (0.03)



    $                     0.01

    Diluted

    (0.03)



    0.01

     

    Cars.com Inc

    Consolidated Balance Sheets

    (In thousands, except per share data)











    March 31, 2025



    December 31, 2024



    (unaudited)





    Assets:







    Current assets:







    Cash and cash equivalents

    $                 31,435



    $                 50,673

    Accounts receivable, net

    130,973



    133,741

    Prepaid expenses

    11,931



    13,782

    Other current assets

    8,391



    16,134

    Total current assets

    182,730



    214,330

    Property and equipment, net

    36,517



    40,704

    Goodwill

    165,248



    143,279

    Intangible assets, net

    571,006



    585,690

    Deferred tax assets

    101,259



    100,530

    Investments and other assets, net

    26,923



    27,332

    Total assets

    $            1,083,683



    $            1,111,865

    Liabilities and stockholders' equity:







    Current liabilities:







    Accounts payable

    $                 29,415



    $                 33,498

    Accrued compensation

    28,212



    36,295

    Other accrued liabilities

    53,325



    47,092

    Total current liabilities

    110,952



    116,885

    Noncurrent liabilities:







    Long-term debt, net

    455,591



    455,288

    Deferred tax liabilities

    6,798



    6,773

    Other noncurrent liabilities

    20,427



    21,434

    Total noncurrent liabilities

    482,816



    483,495

    Total liabilities

    593,768



    600,380

    Commitments and contingencies







    Stockholders' equity:







    Preferred Stock at par, $0.01 par value; 5,000 shares authorized; no shares

       issued and outstanding as of March 31, 2025 and December 31, 2024,

       respectively

    —



    —

    Common Stock at par, $0.01 par value; 300,000 shares authorized; 63,710

       and 64,391 shares issued and outstanding as of March 31, 2025 and

       December 31, 2024, respectively

    637



    643

    Additional paid-in capital

    1,454,891



    1,473,986

    Accumulated deficit

    (963,559)



    (961,546)

    Accumulated other comprehensive loss

    (2,054)



    (1,598)

    Total stockholders' equity

    489,915



    511,485

    Total liabilities and stockholders' equity

    $            1,083,683



    $            1,111,865

     

    Cars.com Inc

    Consolidated Statements of Cash Flows

    (In thousands)

    (Unaudited)











    Three Months Ended March 31,



    2025



    2024

    Cash flows from operating activities:







    Net (loss) income

    $                  (2,013)



    $                      784

    Adjustments to reconcile Net (loss) income to Net cash provided by operating activities:







    Depreciation

    9,661



    6,360

    Amortization of intangible assets

    17,378



    21,005

    Stock-based compensation

    8,334



    7,074

    Deferred income taxes

    (343)



    4,426

    Provision for doubtful accounts

    359



    741

    Amortization of debt issuance costs

    473



    738

    Unrealized (gain) loss on foreign currency denominated transactions

    (12)



    1,009

    Changes in fair value of contingent consideration

    —



    2,554

    Other, net

    958



    217

    Changes in operating assets and liabilities, net of acquisitions:







    Accounts receivable

    2,410



    (1,155)

    Prepaid expenses and other assets

    970



    (5,531)

    Accounts payable

    (4,696)



    3,294

    Accrued compensation

    (8,420)



    (13,585)

    Other liabilities

    4,396



    5,537

    Net cash provided by operating activities

    29,455



    33,468

    Cash flows from investing activities:







         Payments for acquisitions, net of cash acquired

    (24,422)



    —

         Capitalization of internally developed technology

    (4,984)



    (5,305)

         Purchase of property and equipment

    (811)



    (708)

         Proceeds from sale of equity investment

    9,481



    —

    Net cash used in investing activities

    (20,736)



    (6,013)

    Cash flows from financing activities:







         Proceeds from Revolving Loan borrowings

    10,000



    —

         Payments of Revolving Loan borrowings and long-term debt

    (10,000)



    (10,000)

         Payments for stock-based compensation plans, net

    (5,849)



    (8,357)

         Repurchases of common stock

    (21,538)



    (9,096)

         Payments of contingent consideration

    —



    (7,750)

    Net cash used in financing activities

    (27,387)



    (35,203)

    Effect of exchange rate changes on Cash and cash equivalents

    (570)



    (87)

    Net decrease in Cash and cash equivalents

    (19,238)



    (7,835)

    Cash and cash equivalents at beginning of period

    50,673



    39,198

    Cash and cash equivalents at end of period

    $                 31,435



    $                 31,363

    Supplemental cash flow information:







    Cash paid for income taxes

    $                   1,321



    $                   1,168

    Cash paid for interest

    1,164



    2,566

     

     

    Cars.com Inc

    Non-GAAP Reconciliations

    (In thousands, except per share data)

    (Unaudited)

















    Reconciliation of Net (loss) income to Adjusted EBITDA



















    Three Months Ended March 31,







    2025



    2024









    Net (loss) income

    $                 (2,013)



    $                      784









    Interest expense, net

    7,668



    8,321









    Income tax expense

    780



    36









    Depreciation and amortization

    27,039



    27,365









    Stock-based compensation, including related payroll tax expense

    8,703



    7,950









    Transaction-related and other one-time items

    8,519



    7,169









    Non-operating foreign exchange loss

    25



    1,048









    Adjusted EBITDA

    $                 50,721



    $                 52,673









































    Reconciliation of Net (loss) income to Adjusted Net income



















    Three Months Ended March 31,







    2025



    2024









    Net (loss) income

    $                 (2,013)



    $                      784









    Stock-based compensation, including related payroll tax expense

    8,703



    7,950









    Amortization of intangible assets

    17,378



    21,005









    Transaction-related items

    2,930



    6,143









    Non-operating foreign exchange loss

    25



    1,048









    Other one-time items

    5,589



    1,026









    Income tax impact of adjustments

    (8,656)



    (9,293)









    Adjusted net income

    $                 23,956



    $                 28,663

























    Adjusted net income per share, diluted

    $                     0.37



    $                     0.43









    Weighted-average common shares outstanding, diluted*

    65,137



    67,291

























    * Weighted-average common shares outstanding, diluted, includes shares excluded from GAAP loss per

    share due to the net loss position for the three months ended March 31, 2025









































    Reconciliation of Net cash provided by operating activities to Free cash flow



















    Three Months Ended March 31,







    2025



    2024









    Net cash provided by operating activities

    $                 29,455



    $                 33,468









    Capitalization of internally developed technology

    (4,984)



    (5,305)









    Purchase of property and equipment

    (811)



    (708)









    Free cash flow

    $                 23,660



    $                 27,455









































    Reconciliation of Operating expenses to Adjusted operating expenses for the Three Months Ended March 31, 2025:



















    As Reported



    Adjustments (1)



    Stock-Based

    Compensation



    As Adjusted

    Cost of revenue and operations

    $                 30,939



    $                        —



    $                     (178)



    $                 30,761

    Product and technology

    28,478



    —



    (2,513)



    25,965

    Marketing and sales

    60,225



    (41)



    (2,187)



    57,997

    General and administrative

    25,883



    (8,478)



    (3,825)



    13,580

    Depreciation and amortization

    27,039



    —



    —



    27,039

    Total operating expenses

    $               172,564



    $                  (8,519)



    $                  (8,703)



    $               155,342

















    Total nonoperating expense, net

    $                 (7,693)



    $                        25



    $                        —



    $                 (7,668)

















    (1) Includes transaction related items, unrealized gains and losses on foreign currency denominated transactions, severance, transformation and other exit

    costs, and write-off of long-lived assets and other

































    Reconciliation of Operating expenses to Adjusted operating expenses for the Three Months Ended March 31, 2024:



















    As Reported



    Adjustments (1)



    Stock-Based

    Compensation



    As Adjusted

    Cost of revenue and operations

    $                 29,962



    $                        —



    $                     (329)



    $                 29,633

    Product and technology

    28,085



    —



    (2,781)



    25,304

    Marketing and sales

    59,163



    (44)



    (1,221)



    57,898

    General and administrative

    22,857



    (4,570)



    (3,619)



    14,668

    Depreciation and amortization

    27,365



    —



    —



    27,365

    Total operating expenses

    $               167,432



    $                  (4,614)



    $                  (7,950)



    $               154,868

















    Total nonoperating expense, net

    $               (11,924)



    $                   3,603



    $                        —



    $                 (8,321)

















    (1) Includes transaction related items, unrealized gains and losses on foreign currency denominated transactions, severance, transformation and other exit

    costs, and write-off of long-lived assets and other

     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/carscom-reports-first-quarter-2025-results-302449656.html

    SOURCE Cars Commerce

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