CarGurus, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 8, 2025, showcasing continued strong momentum in its Marketplace business. Marketplace revenue grew 13% year-over-year, driving overall performance.
The company achieved a Q1 2025 Net Income of $39.0 million and Non-GAAP Adjusted EBITDA of $66.3 million, representing a 32% increase year-over-year. Total revenue for the quarter was $225.2 million, an increase of 4.3% year-over-year, meeting Wall Street's expectations.
CarGurus' Non-GAAP earnings per share reached $0.46, surpassing the analyst consensus estimate of $0.42 per share. The company also demonstrated its commitment to shareholder value by repurchasing $184.2 million worth of shares during the quarter, accounting for 6% of its outstanding capital.
For the second quarter of 2025, CarGurus provided guidance projecting total revenue between $222 million and $242 million, with Marketplace revenue expected to be between $219.5 million and $224.5 million, representing 12% to 15% year-over-year growth. Adjusted EBITDA is guided between $71.5 million and $79.5 million, indicating a 29% to 43% year-over-year increase.
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