2022 Q2 Form 10-Q Financial Statement
#000132731822000017 Filed on May 10, 2022
Income Statement
Concept | 2022 Q2 | 2022 Q1 | 2021 Q1 |
---|---|---|---|
Revenue | $42.28M | $43.53M | $65.11M |
YoY Change | -35.72% | -33.13% | -17.5% |
Cost Of Revenue | $3.817M | $4.946M | $5.460M |
YoY Change | -33.57% | -9.41% | -11.65% |
Gross Profit | $38.46M | $38.59M | $59.65M |
YoY Change | -35.92% | -35.31% | -18.0% |
Gross Profit Margin | 90.97% | 88.64% | 91.62% |
Selling, General & Admin | $37.26M | $38.81M | $52.78M |
YoY Change | -27.41% | -26.47% | -9.27% |
% of Gross Profit | 96.89% | 100.56% | 88.48% |
Research & Development | $11.38M | $10.26M | $11.19M |
YoY Change | 5.57% | -8.36% | -5.97% |
% of Gross Profit | 29.59% | 26.58% | 18.76% |
Depreciation & Amortization | $3.785M | $3.660M | $4.312M |
YoY Change | -17.56% | -15.12% | -14.26% |
% of Gross Profit | 9.84% | 9.49% | 7.23% |
Operating Expenses | $37.26M | $38.81M | $52.78M |
YoY Change | -27.41% | -26.47% | -9.27% |
Operating Profit | -$13.97M | -$14.13M | -$8.635M |
YoY Change | 109.1% | 63.67% | -18.68% |
Interest Expense | $375.0K | $1.776M | -$310.0K |
YoY Change | -209.01% | -672.9% | |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $0.00 | $630.0K |
YoY Change | -100.0% | -100.0% | |
Pretax Income | -$13.59M | -$12.36M | -$8.324M |
YoY Change | 94.69% | 48.45% | -21.63% |
Income Tax | -$2.574M | $57.00K | $94.00K |
% Of Pretax Income | |||
Net Earnings | -$11.02M | -$12.41M | -$8.418M |
YoY Change | 51.3% | 47.47% | -21.1% |
Net Earnings / Revenue | -26.07% | -28.52% | -12.93% |
Basic Earnings Per Share | -$0.13 | -$0.09 | |
Diluted Earnings Per Share | -$121.1K | -$0.13 | -$0.09 |
COMMON SHARES | |||
Basic Shares Outstanding | 90.42M shares | 95.92M shares | 98.58M shares |
Diluted Shares Outstanding | 91.02M shares | 95.92M shares | 98.58M shares |
Balance Sheet
Concept | 2022 Q2 | 2022 Q1 | 2021 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $199.7M | $234.8M | $274.6M |
YoY Change | -25.23% | -14.5% | 50.14% |
Cash & Equivalents | $199.7M | $234.8M | $274.6M |
Short-Term Investments | |||
Other Short-Term Assets | $5.119M | $6.015M | $4.057M |
YoY Change | 28.26% | 48.26% | -1.51% |
Inventory | |||
Prepaid Expenses | $7.914M | $6.004M | $4.905M |
Receivables | $14.57M | $15.11M | $28.31M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $227.3M | $261.9M | $311.8M |
YoY Change | -24.84% | -16.01% | 33.57% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $18.78M | $18.88M | $20.63M |
YoY Change | -3.5% | -8.47% | -28.14% |
Goodwill | $59.78M | $51.21M | $51.21M |
YoY Change | 16.74% | 0.0% | -18.88% |
Intangibles | $16.36M | $4.538M | $6.188M |
YoY Change | 183.22% | -26.66% | -60.62% |
Long-Term Investments | $0.00 | $0.00 | $19.58M |
YoY Change | -100.0% | -100.0% | -9.0% |
Other Assets | $4.252M | $4.316M | $4.709M |
YoY Change | -9.97% | -8.35% | 27.58% |
Total Long-Term Assets | $117.9M | $101.4M | $130.4M |
YoY Change | -6.54% | -22.22% | -22.04% |
TOTAL ASSETS | |||
Total Short-Term Assets | $227.3M | $261.9M | $311.8M |
Total Long-Term Assets | $117.9M | $101.4M | $130.4M |
Total Assets | $345.2M | $363.4M | $442.3M |
YoY Change | -19.46% | -17.84% | 10.36% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $10.25M | $11.08M | $13.83M |
YoY Change | -37.5% | -19.86% | -21.8% |
Accrued Expenses | $11.70M | $9.746M | $16.06M |
YoY Change | -17.88% | -39.33% | 11.09% |
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 | $31.59M | $29.22M | $39.29M |
YoY Change | -22.89% | -25.63% | -1.02% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $25.38M | $24.79M | $86.00K |
YoY Change | 115240.91% | 28724.42% | -96.37% |
Total Long-Term Liabilities | $25.38M | $24.79M | $86.00K |
YoY Change | 115240.91% | 28724.42% | -96.37% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $31.59M | $29.22M | $39.29M |
Total Long-Term Liabilities | $25.38M | $24.79M | $86.00K |
Total Liabilities | $57.10M | $54.13M | $70.08M |
YoY Change | -18.78% | -22.76% | -10.52% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$417.3M | -$406.3M | -$363.9M |
YoY Change | 12.41% | 11.63% | -17.8% |
Common Stock | $705.3M | $715.5M | $736.1M |
YoY Change | -3.3% | -2.8% | -3.8% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $288.1M | $309.2M | $372.2M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $345.2M | $363.4M | $442.3M |
YoY Change | -19.46% | -17.84% | 10.36% |
Cashflow Statement
Concept | 2022 Q2 | 2022 Q1 | 2021 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$11.02M | -$12.41M | -$8.418M |
YoY Change | 51.3% | 47.47% | -21.1% |
Depreciation, Depletion And Amortization | $3.785M | $3.660M | $4.312M |
YoY Change | -17.56% | -15.12% | -14.26% |
Cash From Operating Activities | -$6.085M | -$7.465M | $5.479M |
YoY Change | -164.0% | -236.25% | -1.28% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$2.501M | $3.379M | $2.816M |
YoY Change | -3.44% | 19.99% | -10.72% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$12.09M | $12.80M | $7.500M |
YoY Change | 70.67% | ||
Cash From Investing Activities | -$14.59M | $9.421M | $4.684M |
YoY Change | 463.47% | 101.13% | -233.64% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $11.53M | $7.829M | |
YoY Change | 47.27% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -14.42M | -$12.39M | -$8.904M |
YoY Change | 0.02% | 39.16% | 1129.83% |
NET CHANGE | |||
Cash From Operating Activities | -6.085M | -$7.465M | $5.479M |
Cash From Investing Activities | -14.59M | $9.421M | $4.684M |
Cash From Financing Activities | -14.42M | -$12.39M | -$8.904M |
Net Change In Cash | -35.10M | -$10.44M | $1.259M |
YoY Change | 367.95% | -928.83% | -4.69% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$6.085M | -$7.465M | $5.479M |
Capital Expenditures | -$2.501M | $3.379M | $2.816M |
Free Cash Flow | -$3.584M | -$10.84M | $2.663M |
YoY Change | -129.62% | -507.21% | 11.14% |
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-8324000 | USD |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
57000 | USD |
CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
94000 | USD |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-12414000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8418000 | USD |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.13 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.13 | |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.09 | |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.09 | |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
95924000 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
95924000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
98581000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
98581000 | shares |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-12414000 | USD |
CY2021Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-8418000 | USD |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
329786000 | USD |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-12414000 | USD |
CY2022Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
11028000 | USD |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
3744000 | USD |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
-861000 | USD |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
309227000 | USD |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
382782000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8418000 | USD |
CY2021Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
7829000 | USD |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
6732000 | USD |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
-1075000 | USD |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
372192000 | USD |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-12414000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8418000 | USD |
CY2022Q1 | true |
Depreciation Depletion And Amortization Operating Activities
DepreciationDepletionAndAmortizationOperatingActivities
|
3660000 | USD |
CY2021Q1 | true |
Depreciation Depletion And Amortization Operating Activities
DepreciationDepletionAndAmortizationOperatingActivities
|
4312000 | USD |
CY2022Q1 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
16000 | USD |
CY2021Q1 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
17000 | USD |
CY2022Q1 | true |
Provision For Doubtful Accounts And Other Reserves
ProvisionForDoubtfulAccountsAndOtherReserves
|
160000 | USD |
CY2021Q1 | true |
Provision For Doubtful Accounts And Other Reserves
ProvisionForDoubtfulAccountsAndOtherReserves
|
232000 | USD |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3498000 | USD |
CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6385000 | USD |
CY2022Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
0 | USD |
CY2021Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
31000 | USD |
CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
1097000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
1068000 | USD |
CY2022Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
1749000 | USD |
CY2021Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-329000 | USD |
CY2022Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
315000 | USD |
CY2021Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
125000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1442000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-4383000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
149000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-2205000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-249000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
717000 | USD |
CY2021Q1 | us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
7500000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
9421000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-1529000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-1745000 | USD |
CY2022Q1 | true |
Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
|
-1383000 | USD |
CY2021Q1 | true |
Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
|
-1253000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-180000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-2607000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
0 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-302000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7465000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
5479000 | USD |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3379000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2816000 | USD |
CY2022Q1 | us-gaap |
Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
|
12800000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
|
0 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
9421000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-2816000 | USD |
CY2022Q1 | us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
0 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
4684000 | USD |
CY2022Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
163000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
567000 | USD |
CY2022Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1024000 | USD |
CY2021Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1642000 | USD |
CY2022Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
11530000 | USD |
CY2021Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
7829000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-12391000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-8904000 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-10435000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1259000 | USD |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
245217000 | USD |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
273314000 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
234782000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
274573000 | USD |
CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
246000 | USD |
CY2021Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
347000 | USD |
CY2022Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
588000 | USD |
CY2021Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
585000 | USD |
CY2022Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
Organization and Nature of Business<div style="margin-bottom:12pt;margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TrueCar, Inc. is an Internet-based information, technology, and communication services company. Hereinafter, TrueCar, Inc. and its wholly owned subsidiaries TrueCar Dealer Solutions, Inc. and DealerScience, LLC are collectively referred to as “TrueCar” or the “Company”; TrueCar Dealer Solutions, Inc. is referred to as “TCDS” and DealerScience, LLC is referred to as “DealerScience.” 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.</span></div><div style="margin-bottom:12pt;margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Through its subsidiary TCDS, the Company provides its TrueCar Trade and Payments products. Our Trade solution gives consumers information on the value of their trade-in vehicles and enables them to obtain a guaranteed trade-in price before setting foot in the dealership. This valuation is, in turn, backed by a third-party guarantee to dealers that the vehicles will be repurchased at the indicated price if the dealer does not want to keep them. The Company’s Payments solution leverages the digital retailing technology of its DealerScience subsidiary, acquired in December 2018, to help consumers calculate accurate monthly payments.</span></div> | |
CY2022Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-bottom:12pt;margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:12pt;margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 recoverability and related impairment of goodwill and long-lived assets, valuation allowances with respect to deferred tax assets, useful lives associated with property and equipment and intangible assets, right-of-use assets and operating lease liabilities, contingencies, the valuation and assumptions underlying stock-based compensation and other equity instruments, and valuation of derivatives. 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 fair values of its single reporting unit related to goodwill impairment, right-of-use assets and lease liabilities, assets and liabilities assumed in business combinations, assets and liabilities of its equity method investment and performance-based stock units.</span></div> | |
CY2022Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | Segment |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
3099000 | USD |
CY2020Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
7147000 | USD |
CY2022Q1 | true |
Allowance For Doubtful Accounts Receivable Reduction In Revenue
AllowanceForDoubtfulAccountsReceivableReductionInRevenue
|
790000 | USD |
CY2021Q1 | true |
Allowance For Doubtful Accounts Receivable Reduction In Revenue
AllowanceForDoubtfulAccountsReceivableReductionInRevenue
|
1279000 | USD |
CY2022Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
160000 | USD |
CY2021Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
232000 | USD |
CY2022Q1 | true |
Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveries
|
1536000 | USD |
CY2021Q1 | true |
Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveries
|
2509000 | USD |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
2513000 | USD |
CY2021Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
6149000 | USD |
CY2020 | true |
Disposal Group Including Discontinued Operation Transaction Costs Period
DisposalGroupIncludingDiscontinuedOperationTransactionCostsPeriod
|
P5Y | |
CY2020 | true |
Disposal Group Including Discontinued Operation Transaction Costs Period
DisposalGroupIncludingDiscontinuedOperationTransactionCostsPeriod
|
P5Y | |
CY2022Q1 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
1700000 | USD |
CY2022Q1 | true |
Probability Of Meeting Fair Value Measurement Criteria
ProbabilityOfMeetingFairValueMeasurementCriteria
|
0.90 | |
CY2022Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
95872000 | USD |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
96695000 | USD |
CY2022Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
76992000 | USD |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
77540000 | USD |
CY2022Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
18880000 | USD |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
19155000 | USD |
CY2022Q1 | true |
Property Plant And Equipment Gross Assets Not Placed In Service
PropertyPlantAndEquipmentGrossAssetsNotPlacedInService
|
1200000 | USD |
CY2021Q4 | true |
Property Plant And Equipment Gross Assets Not Placed In Service
PropertyPlantAndEquipmentGrossAssetsNotPlacedInService
|
1300000 | USD |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3498000 | USD |
CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6385000 | USD |
CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
246000 | USD |
CY2021Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
347000 | USD |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
3744000 | USD |
CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
6732000 | USD |
CY2021 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
|
1100000 | USD |
CY2022Q1 | us-gaap |
Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
|
1100000 | USD |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-12414000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8418000 | USD |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
95924000 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
95924000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
98581000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
98581000 | shares |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.13 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.13 | |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.09 | |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.09 | |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
17210000 | shares |
CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
17590000 | shares |
CY2020Q3 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
75000000 | USD |
CY2021Q2 | true |
Stock Repurchase Program Additional Authorized Amount
StockRepurchaseProgramAdditionalAuthorizedAmount
|
75000000 | USD |
CY2021Q2 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
150000000 | USD |
CY2022Q1 | us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
3100000 | shares |
CY2022Q1 | us-gaap |
Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
|
11000000 | USD |
CY2022Q1 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
64500000 | USD |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
43533000 | USD |
CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
65105000 | USD |
CY2022Q1 | us-gaap |
Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
|
900000 | USD |
CY2022Q1 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
800000 | USD |
CY2021Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
900000 | USD |