TRUE - TrueCar GAAP EPS of -$0.22 misses by $0.03 revenue of $37M misses by $1.82M
2023-05-08 17:09:14 ET
- TrueCar press release ( NASDAQ: TRUE ): Q1 GAAP EPS of -$0.22 misses by $0.03 .
- Revenue of $37M (-15.0% Y/Y) misses by $1.82M .
- Dealer count at the end of the first quarter was 11,832, comprising 7,961 franchise dealers and 3,871 independent dealers.
- Consumer traffic averaged 8.7 million monthly unique visitors in the first quarter of 2023, rising from 7.3 million seen during the first quarter of 2022 and from the 7.4 million seen during the fourth quarter of 2022 as we continue to optimize the efficiency of our acquisition spend.
- Total first-quarter units were 76K as compared to 92K during the same quarter last year and 77K in the fourth quarter of 2022. Total units declined by 16.5% year over year resulting from continuing elevated prices, rising interest rates and lingering constraints on dealer inventory.
- Monetization increased per unit to $482 from $473 during the first quarter of 2022 and was up from $475 in the fourth quarter of 2022.
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TrueCar GAAP EPS of -$0.22 misses by $0.03, revenue of $37M misses by $1.82M