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TrueCar (TRUE) investor relations material
TrueCar Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue reached $47.0 million in Q2 2025, up 12.4% year-over-year, the highest since Q3 2021, with net loss narrowing to $7.6 million from $13.5 million.
Adjusted EBITDA was ($1.2 million), down from $0.1 million year-over-year.
New unit sales volume grew 6.2% year-over-year, outpacing industry growth.
Product enhancements and digital retailing (TC Plus/TC+) progress are central to growth strategy and improved dealer and consumer outcomes.
Dealer and OEM revenue rose, with vehicle sourcing products and incentives driving growth.
Financial highlights
Q2 2025 revenue: $47.0 million (up 12.4% year-over-year); net loss: $7.6 million (improved from $13.5 million loss in Q2 2024).
Adjusted EBITDA: ($1.2 million) vs. $0.1 million YoY.
OEM revenue: $3.6 million, up 19.7% year-over-year.
Dealer revenue: $4.7 million increase (+12.1% YoY), franchise dealer revenue up 1.1%, TCMS up 9.6%.
Monetization per unit increased 12.4% year-over-year to $526.
Outlook and guidance
Focus remains on commercializing TC Plus/TC+ by year-end and achieving adjusted EBITDA profitability and positive free cash flow in the second half of 2025.
Management is cautious about providing specific revenue guidance due to macroeconomic uncertainty but is confident in the business model's resilience.
Expectation of new vehicle retail sales to trend 5-10% lower year-over-year in the second half of 2025.
Branded media spend and OEM incentives revenue are expected to fluctuate with market conditions and affinity group agreements.
Existing liquidity is sufficient for at least the next 12 months, but additional funding may be sought if needed.
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