CARG - CarGurus Non-GAAP EPS of $0.21 misses by $0.04 revenue of $426.5M misses by $35.92M

• CarGurus press release ( NASDAQ: CARG ): Q3 Non-GAAP EPS of $0.21 misses by $0.04 .
• Revenue of $426.5M (+91.3% Y/Y) misses by $35.92M .
• Shares -2% .
• Marketplace revenue was $165.3 million, an increase of 3% compared to $159.9 million in the third quarter of 2021.
• Wholesale revenue was $47.0 million, an increase of 4% compared to $45.2 million in the third quarter of 2021.
• Product revenue was $214.1 million, an increase of 1,105% compared to $17.8 million in the third quarter of 2021.
• Total paying dealers were 31,286 at September 30, 2022, an increase of 2% compared to 30,754 at September 30, 2021. Of the total paying dealers at September 30, 2022, U.S. and International accounted for 24,691 and 6,595, respectively, compared to 23,979 and 6,775, respectively, at September 30, 2021.
• Quarterly Average Revenue per Subscribing Dealer (“QARSD”) in the U.S. was $5,800 as of September 30, 2022, an increase of 4% compared to $5,602 as of September 30, 2021.
• U.S. average monthly unique users were 29.4 million, an increase of 2% compared to 28.8 million in the third quarter of 2021.
• U.S. average monthly sessions were 75.9 million, an increase of 7% compared to 71.2 million in the third quarter of 2021.
• International average monthly unique users were 6.7 million, a decrease of (10%) compared to 7.5 million in the third quarter of 2021.
• International average monthly sessions were 15.2 million, a decrease of (11%) compared to 17.1 million in the third quarter of 2021.
• Q4 Outlook: Total revenue of $270M to $300M vs. consensus of $468.42M; Non-GAAP Consolidated Adjusted EBITDA of $6M to $14M; Non-GAAP EPS of $0.13 to $0.16 vs. consensus of $0.28.

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