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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
CarGurus
CarGurus (CARG) investor relations material
CarGurus Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary6 Aug, 2026
Executive summary
Q2 2026 revenue increased 13% year-over-year to $251.0 million, driven by dealer network expansion, higher average revenue per dealer, and strong international momentum.
Non-GAAP adjusted EBITDA reached $84.7 million at a 34% margin, with GAAP net income from continuing operations at $49.2 million.
AI-driven product innovation, including the launch of Guru and other enhancements, fueled dealer and consumer engagement.
Completed wind-down of CarOffer in December 2025; results now reported as a single segment.
Share repurchases totaled $29.2 million in Q2, with over 30% of shares repurchased since December 2022.
Financial highlights
Q2 2026 revenue: $251.0 million (+13% YoY); international revenue up 28% year-over-year.
Gross profit for Q2: $231.1 million (92% margin); non-GAAP adjusted EBITDA: $84.7 million (34% margin).
Net income from continuing operations: $49.2 million; non-GAAP net income: $60.4 million; non-GAAP diluted EPS: $0.66.
Free cash flow conversion: 103% of adjusted EBITDA ($87.7 million); cash and equivalents at period end: $122.1 million.
No long-term debt outstanding as of June 30, 2026.
Outlook and guidance
Q3 2026 revenue guidance: $253.5–$258.5 million; non-GAAP adjusted EBITDA: $82–$90 million; non-GAAP EPS: $0.63–$0.69.
Full-year 2026 revenue growth expected at 10–13% year-over-year; adjusted EBITDA margin to decline by 0.5–1.5 percentage points.
Guidance excludes potential macroeconomic disruptions and foreign currency impacts.
Management expects existing liquidity and revolver access to be sufficient for at least the next 12 months.
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Latest events from CarGurus
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- Q1 2026 revenue up 15% to $244M, adjusted EBITDA up 17%, $175M in shares repurchased.CARGQ1 2026
- Annual meeting to vote on directors, auditor, and executive pay, with strong governance and ESG focus.CARGProxy filing
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- 2025 revenue up 14% and net income up 53%, with strong cash flow and new share repurchase plan.CARGQ4 2025
- Q3 2025 delivered 14% marketplace revenue growth, margin expansion, and strong share buybacks.CARGQ3 2025
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Next CarGurus earnings date
Q3 20265 Nov, 2026
CarGurus
Next CarGurus earnings date
Q3 20265 Nov, 2026
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Frequently asked questions
CarGurus, Inc. operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. CarGurus, Inc's marketplace enables users with third-party validation on pricing and dealer reputation to buy smarter; and offers advertising and lead generation services. The company's portfolio of brands includes Cars.com, which serves the United States; AutoTrader.co.uk, which serves the United Kingdom; and Autotrader.fr, which serves France, as well as other sites that comprise Carfinder, DealerRater, and Vroom.