CarGurus Inc (NASDAQ: CARG) is an online automotive marketplace company that connects car buyers with franchised and independent dealers through a search platform built on proprietary pricing algorithms and deal ratings. Revenue comes primarily from subscription and listing fees paid by dealers for access to the marketplace, leads, and ancillary dealer tools. The platform serves consumers across the full vehicle-buying journey, from initial research through purchase, using AI-powered conversational search, Deal Ratings, vehicle history data, dealer reviews, and digital retailing tools. Dealers receive products organized around four pillars, including inventory visibility, lead generation, and workflow support. CarGurus also operates a consumer-facing vehicle-selling product called Sell My Car. The company wound down its CarOffer wholesale Dealer-to-Dealer and Instant Max Cash Offer transaction business, which was considered abandoned for accounting purposes as of December 31, 2025, and its financial results are presented as discontinued operations in the FY2025 10-K filed February 19, 2026.

Revenue model

Dealer subscription and listing fees for marketplace access, lead generation, and dealer tool packages. Consumer vehicle-sourcing revenue through the Sell My Car product. The CarOffer Digital Wholesale segment, which generated transaction-based revenue from Dealer-to-Dealer and Instant Max Cash Offer services, was wound down and abandoned as of December 31, 2025.

Products and services

CarGurus marketplace with Deal Ratings, Search Results Pages (SRP), Vehicle Detail Pages (VDP), CG Discover, AI-powered conversational search, side-by-side vehicle comparisons, expert reviews, user-generated dealer ratings, payment calculators, price history, Dealership Mode (geo-fenced in-dealership mobile support), Sell My Car (consumer vehicle sourcing), and an AI-powered inventory intelligence insights platform for dealers.

Customers and end markets

Franchised and independent car dealers (primary paying customers). Consumers shopping for new and used vehicles in the United States. End market is the U.S. retail automotive sector.

Value-chain role

Online marketplace intermediary sitting between vehicle dealers and car-buying consumers. Aggregates inventory listings, applies proprietary pricing and deal-quality algorithms, and delivers qualified leads and digital retailing tools to dealers.

Geographic exposure

Primary operations in the United States, as indicated by references to U.S. online automotive marketplaces throughout the FY2025 10-K filing.

Source: SEC 10-K, filed 2026-02-19

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