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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
CarGurus
CarGurus (CARG) investor relations material
CarGurus Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Feb, 2026
Executive summary
Full-year 2025 revenue from continuing operations increased 14% year-over-year to $907 million, marking a second consecutive year of mid-teens growth.
Adjusted EBITDA from continuing operations grew 25% year-over-year to $319 million, with significant product innovation and expansion into software and data solutions.
Completed the wind-down and abandonment of CarOffer in Q4 2025, now reporting as a single segment from Q4 2025 onward.
Digital Deal adoption reached 13,500 dealers globally, with high-value leads up 78% year-over-year.
Approximately $350 million in shares were repurchased in 2025, with a new $250 million share repurchase program announced for 2026.
Financial highlights
Q4 2025 revenue was $241.1 million, up 15% year-over-year; full-year revenue was $907 million, up 14%.
Q4 non-GAAP gross profit was $222.7 million (92% margin); full-year non-GAAP gross profit was $841.5 million (93% margin).
Q4 non-GAAP Adjusted EBITDA was $88.5 million (37% margin); full-year Adjusted EBITDA was $319 million (35% margin).
Q4 GAAP net income from continuing operations was $53.7 million (22% margin); full-year was $196.7 million (22% margin), up 53% year-over-year.
Ended 2025 with $190.5 million in cash and cash equivalents; non-GAAP free cash flow for 2025 was $266 million.
Outlook and guidance
Q1 2026 revenue expected between $240.5 million and $245.5 million; non-GAAP Adjusted EBITDA expected between $72 million and $80 million.
Q1 2026 non-GAAP EPS guidance: $0.52 to $0.58, assuming 94.0 million diluted shares.
Full-year 2026 revenue expected to grow 10%-13% year-over-year.
Full-year 2026 non-GAAP Adjusted EBITDA margin expected to compress by 1.5-2.5 percentage points due to increased investment in product and AI innovation.
Guidance assumes stable market trends and excludes major macroeconomic disruptions or foreign currency fluctuations.
CarOffer wind-down: what strategic benefits?
Explain 2026 Non-GAAP EBITDA margin decline.
Detail AI-driven product impact on dealer wallet share.
Prioritize 2026 investment areas
New products' 2026 revenue contribution?
How to maintain direct customer relationship with LLMs?
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Next CarGurus earnings date
Q1 20267 May, 2026
CarGurus
Next CarGurus earnings date
Q1 20267 May, 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.
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