$TRUE
TrueCar Inc Stock $true

$true Overview Financials Valuation SEC Filings Company Website

2018 Q4 Form 10-Q Financial Statement

#000132731818000045 Filed on November 08, 2018

Income Statement

Concept	2018 Q4	2018 Q3	2017 Q3
Revenue	$72.59M	$93.59M	$82.44M
YoY Change	-12.68%	13.52%	9.72%
Cost Of Revenue	$3.200M	$7.740M	$7.090M
YoY Change	-58.01%	9.17%	12.18%
Gross Profit	$69.40M	$85.85M	$75.35M
YoY Change	-8.1%	13.93%	9.49%
Gross Profit Margin	95.61%	91.73%	91.4%
Selling, General & Admin	$65.50M	$71.06M	$63.38M
YoY Change	-0.02%	12.13%	12.52%
% of Gross Profit	94.38%	82.77%	84.11%
Research & Development	$13.62M	$15.35M	$15.36M
YoY Change	-14.61%	-0.07%	16.81%
% of Gross Profit	19.63%	17.88%	20.38%
Depreciation & Amortization	$5.850M	$5.990M	$5.730M
YoY Change	19.14%	4.54%	-4.98%
% of Gross Profit	8.43%	6.98%	7.6%
Operating Expenses	$80.10M	$71.06M	$63.38M
YoY Change	-7.31%	12.13%	12.52%
Operating Profit	-$10.70M	-$6.549M	-$9.146M
YoY Change	-1.83%	-28.39%	36.69%
Interest Expense	-$120.0K	$662.0K	$654.0K
YoY Change	-33.33%	1.22%	1.4%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$10.83M	-$6.323M	-$9.398M
YoY Change	-2.26%	-32.72%	29.72%
Income Tax	-$1.040M	-$100.0K	$121.0K
% Of Pretax Income
Net Earnings	-$6.390M	-$6.251M	-$9.519M
YoY Change	-24.65%	-34.33%	28.01%
Net Earnings / Revenue	-8.8%	-6.68%	-11.55%
Basic Earnings Per Share
Diluted Earnings Per Share	-$61.39K	-$60.82K	-$96.48K
COMMON SHARES
Basic Shares Outstanding	104.0M shares	102.1M shares	98.50M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2018 Q4	2018 Q3	2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$196.1M	$217.7M	$196.4M
YoY Change	-0.86%	10.85%	90.68%
Cash & Equivalents	$196.1M	$217.7M	$196.4M
Short-Term Investments
Other Short-Term Assets	$4.103M	$5.806M	$2.821M
YoY Change	258.34%	105.81%	99.08%
Inventory
Prepaid Expenses	$7.468M	$9.291M	$7.114M
Receivables	$47.76M	$47.43M	$39.59M
Other Receivables	$300.0K	$0.00	$0.00
Total Short-Term Assets	$255.5M	$280.3M	$245.9M
YoY Change	4.89%	13.97%	66.77%
LONG-TERM ASSETS
Property, Plant & Equipment	$61.51M	$69.17M	$68.38M
YoY Change	-13.01%	1.16%	1.7%
Goodwill	$73.31M	$53.27M	$53.27M
YoY Change	37.62%	0.0%	0.0%
Intangibles	$23.45M	$13.02M	$16.88M
YoY Change	47.38%	-22.88%	-18.62%
Long-Term Investments	$0.00
YoY Change
Other Assets	$7.228M	$5.113M	$1.589M
YoY Change	419.63%	221.77%	27.02%
Total Long-Term Assets	$165.5M	$140.6M	$140.1M
YoY Change	17.14%	0.33%	-1.67%
TOTAL ASSETS
Total Short-Term Assets	$255.5M	$280.3M	$245.9M
Total Long-Term Assets	$165.5M	$140.6M	$140.1M
Total Assets	$421.0M	$420.8M	$386.0M
YoY Change	9.39%	9.02%	33.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$26.31M	$26.93M	$21.31M
YoY Change	41.27%	26.39%	63.8%
Accrued Expenses	$10.91M	$17.56M	$10.95M
YoY Change	-14.71%	60.32%	-7.24%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$41.56M	$49.53M	$38.96M
YoY Change	9.44%	27.14%	16.73%
LONG-TERM LIABILITIES
Long-Term Debt	$23.00M	$23.00M	$29.10M
YoY Change	-20.96%	-20.96%	1.04%
Other Long-Term Liabilities	$9.290M	$3.910M	$3.474M
YoY Change	144.67%	12.55%	34.97%
Total Long-Term Liabilities	$9.290M	$3.910M	$3.474M
YoY Change	144.67%	12.55%	34.97%
TOTAL LIABILITIES
Total Short-Term Liabilities	$41.56M	$49.53M	$38.96M
Total Long-Term Liabilities	$9.290M	$3.910M	$3.474M
Total Liabilities	$74.41M	$77.00M	$74.91M
YoY Change	3.75%	2.8%	10.86%
SHAREHOLDERS EQUITY
Retained Earnings	-$373.5M	-$367.1M	-$342.6M
YoY Change	6.38%	7.15%	10.42%
Common Stock	$720.0M	$710.9M	$653.7M
YoY Change	8.41%	8.75%	22.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$346.6M	$343.8M	$311.1M
YoY Change
Total Liabilities & Shareholders Equity	$421.0M	$420.8M	$386.0M
YoY Change	9.39%	9.02%	33.13%

Cashflow Statement

Concept	2018 Q4	2018 Q3	2017 Q3
OPERATING ACTIVITIES
Net Income	-$6.390M	-$6.251M	-$9.519M
YoY Change	-24.65%	-34.33%	28.01%
Depreciation, Depletion And Amortization	$5.850M	$5.990M	$5.730M
YoY Change	19.14%	4.54%	-4.98%
Cash From Operating Activities	$8.850M	$7.410M	$4.190M
YoY Change	69.87%	76.85%	-890.57%
INVESTING ACTIVITIES
Capital Expenditures	-$4.010M	-$3.470M	-$4.850M
YoY Change	-13.2%	-28.45%	57.47%
Acquisitions
YoY Change
Other Investing Activities	-$26.09M
YoY Change
Cash From Investing Activities	-$30.10M	-$3.470M	-$4.850M
YoY Change	551.52%	-28.45%	57.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-370.0K	15.32M	15.34M
YoY Change	-148.05%	-0.13%	340.8%
NET CHANGE
Cash From Operating Activities	8.850M	7.410M	4.190M
Cash From Investing Activities	-30.10M	-3.470M	-4.850M
Cash From Financing Activities	-370.0K	15.32M	15.34M
Net Change In Cash	-21.62M	19.26M	14.68M
YoY Change	-1689.71%	31.2%	-11392.31%
FREE CASH FLOW
Cash From Operating Activities	$8.850M	$7.410M	$4.190M
Capital Expenditures	-$4.010M	-$3.470M	-$4.850M
Free Cash Flow	$12.86M	$10.88M	$9.040M
YoY Change	30.82%	20.35%	254.51%

Facts In Submission

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	dei	Document Period End Date DocumentPeriodEndDate	2018-09-30
	dei	Document Type DocumentType	10-Q
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	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
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CY2018Q3	us-gaap	Line Of Credit LineOfCredit	0	USD
CY2018Q3	us-gaap	Line Of Credit Facility Remaining Borrowing Capacity LineOfCreditFacilityRemainingBorrowingCapacity	31000000.0	USD
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	88681000	USD
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	19987000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	86962000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	17092000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-15194000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-13088000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	16913000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	15983000	USD
CY2017Q3	us-gaap	Net Income Loss NetIncomeLoss	-9519000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-24374000	USD
CY2018Q3	us-gaap	Net Income Loss NetIncomeLoss	-6251000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-21928000	USD
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1
CY2017Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-9146000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-22760000	USD
CY2018Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-6549000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-22353000	USD
CY2017Q4	us-gaap	Other Assets Current OtherAssetsCurrent	1145000	USD
CY2018Q3	us-gaap	Other Assets Current OtherAssetsCurrent	5806000	USD
CY2017Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	1391000	USD
CY2018Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	5113000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-9519000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-24374000	USD
CY2018Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-6251000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-21928000	USD
CY2017Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	3797000	USD
CY2018Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	3910000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	2304000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	2293000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	15194000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	13088000	USD
CY2017Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2018Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2017Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	20000000	shares
CY2018Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	20000000	shares
CY2017Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2018Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2017Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2018Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2017Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2018Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2017Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	5475000	USD
CY2018Q3	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	9291000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	17398000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	71868000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	19385000	USD
CY2017Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	135991000	USD
CY2018Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	147389000	USD
CY2017Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	70710000	USD
CY2018Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	69174000	USD
CY2017Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-351084000	USD
CY2018Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-367089000	USD
CY2017Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	82440000	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	137498000	USD
CY2018Q3	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	57031000	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	157463000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	22661000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	28316000	USD
CY2017Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	10351000	USD
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	23654000	USD
CY2018Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	10798000	USD
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1 SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1	29674000	USD
	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	17055000	USD
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	313118000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	343842000	USD
CY2017Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	98665000	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	93108000	shares
CY2018Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	102765000	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	101503000	shares
	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Nature of Business</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TrueCar, Inc. is an Internet-based information, technology, and communication services company. Hereinafter, TrueCar, Inc. and its wholly-owned subsidiaries, including ALG, Inc., are collectively referred to as “TrueCar” or the “Company”; and ALG, Inc. is referred to as “ALG.” TrueCar was incorporated in the state of Delaware in February 2005 and began business operations in April 2005. Its principal corporate offices are located in Santa Monica, California.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TrueCar is a digital automotive marketplace that (i) provides pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience; (ii) empowers Certified Dealers to attract these informed, in-market consumers in a cost-effective, accountable manner; and (iii) allows automobile manufacturers (“OEMs”) to more effectively target their incentive spending at deep-in-market consumers during their purchase process. TrueCar has established a diverse software ecosystem on a common technology infrastructure, powered by proprietary data and analytics. Consumers access TrueCar’s platform through the TrueCar.com website and TrueCar mobile applications or through the car-buying websites and mobile applications that TrueCar operates for its affinity group marketing partners (“Auto Buying Programs”). An affinity group is comprised of a network of members or employees that provides discounts to its members.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:8px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ALG provides forecasts, consulting, and other services regarding determination of the residual value of an automobile at future given points in time, which are used to underwrite automotive loans and leases and by financial institutions to measure exposure and risk across loan, lease, and fleet portfolios. ALG also obtains automobile purchase data from a variety of sources and uses this data to provide consumers and dealers with highly accurate, geographically specific, real-time pricing information.</font></div></div>
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;padding-top:8px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:8px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Assets and liabilities that are subject to judgment and use of estimates include sales allowances and allowances for doubtful accounts, contract assets, the fair value of assets and liabilities assumed in business combinations, the fair value of the capitalized facility leases, the recoverability of goodwill and long-lived assets, valuation allowances with respect to deferred tax assets, useful lives associated with property and equipment and intangible assets, lease exit liabilities, contingencies, and the valuation and assumptions underlying stock-based compensation and other equity instruments. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. In addition, the Company engaged valuation specialists to assist with management’s determination of the valuation of its capitalized facility leases, the fair values of assets and liabilities assumed in business combinations, the fair value of reporting units in connection with annual goodwill impairment testing, and in periods prior to the Company’s initial public offering, valuation of common stock.</font></div></div>

Files In Submission

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$TRUE
TrueCar Inc Stock $true

2018 Q4 Form 10-Q Financial Statement

#000132731818000045 Filed on November 08, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$TRUE TrueCar Inc Stock $true

2018 Q4 Form 10-Q Financial Statement

#000132731818000045 Filed on November 08, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$TRUE
TrueCar Inc Stock $true