Fri, Feb 21, 10:23 PM (65 days ago)
**TrueCar, Inc. (TRUE) 10-K/A Summary for FY 2024** TrueCar, Inc. reported a fiscal year 2024 net loss of $31,048,000, an improvement from a loss of $49,766,000 in 2023. Revenue increased to $175,598,000 from $158,706,000, primarily driven by dealer revenue of $157,930,000, which reflects the company's robust auto buying program. Operating expenses totaled $212,778,000, with significant costs in sales and marketing ($95,585,000) and technology development ($29,643,000). The company's earnings per share improved to $(0.34) from $(0.55). Strategically, TrueCar continues to refine its digital marketplace, enhancing consumer experience while managing costs. The company executed a restructuring plan in 2023, incurring $7.2 million in charges, with no further significant expenses anticipated. Future outlook remains cautious amid economic pressures, including rising interest rates and semiconductor shortages. Key risks include market volatility and operational challenges. As of December 31, 2024, TrueCar's cash and equivalents stood at $111,835,000, a decrease from $136,964,000 in 2023, reflecting ongoing investments and share repurchases. The company has a remaining stock repurchase authorization of $80 million, indicating confidence in its long-term growth potential.