$TRUE
TrueCar Inc

2023 Q2 Form 10-Q Financial Statement

#000132731823000018 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $39.29M $36.98M
YoY Change -7.05% -15.05%
Cost Of Revenue $3.931M $3.846M
YoY Change 2.99% -22.24%
Gross Profit $35.36M $33.13M
YoY Change -8.05% -14.13%
Gross Profit Margin 90.0% 89.6%
Selling, General & Admin $39.91M $37.61M
YoY Change 7.1% -3.07%
% of Gross Profit 112.86% 113.51%
Research & Development $13.51M $12.50M
YoY Change 18.72% 21.87%
% of Gross Profit 38.2% 37.72%
Depreciation & Amortization $4.091M $4.191M
YoY Change 8.08% 14.51%
% of Gross Profit 11.57% 12.65%
Operating Expenses $57.51M $37.61M
YoY Change 54.34% -3.07%
Operating Profit -$22.15M -$21.17M
YoY Change 58.56% 49.77%
Interest Expense $1.730M $1.608M
YoY Change 361.33% -9.46%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$20.42M -$19.56M
YoY Change 50.2% 58.28%
Income Tax $7.000K $6.000K
% Of Pretax Income
Net Earnings -$20.42M -$19.57M
YoY Change 85.35% 57.6%
Net Earnings / Revenue -51.98% -52.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.23 -$0.22
COMMON SHARES
Basic Shares Outstanding 89.20M shares 88.69M shares
Diluted Shares Outstanding 89.38M shares 88.65M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $142.4M $154.4M
YoY Change -28.68% -34.22%
Cash & Equivalents $142.4M $156.6M
Short-Term Investments
Other Short-Term Assets $8.773M $2.252M
YoY Change 71.38% -62.56%
Inventory
Prepaid Expenses $6.797M $4.718M
Receivables $16.24M $14.12M
Other Receivables $0.00 $0.00
Total Short-Term Assets $167.4M $177.7M
YoY Change -26.34% -32.14%
LONG-TERM ASSETS
Property, Plant & Equipment $33.64M $19.38M
YoY Change 79.17% 2.65%
Goodwill
YoY Change
Intangibles $11.58M $12.77M
YoY Change -29.2% 181.49%
Long-Term Investments
YoY Change
Other Assets $4.071M $3.884M
YoY Change -4.26% -10.01%
Total Long-Term Assets $49.29M $51.78M
YoY Change -58.19% -48.96%
TOTAL ASSETS
Total Short-Term Assets $167.4M $177.7M
Total Long-Term Assets $49.29M $51.78M
Total Assets $216.7M $229.5M
YoY Change -37.22% -36.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.537M $9.334M
YoY Change -6.94% -15.79%
Accrued Expenses $23.17M $9.091M
YoY Change 98.07% -6.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.71M $26.92M
YoY Change 3.53% -7.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $19.69M $20.98M
YoY Change -22.4% -15.39%
Total Long-Term Liabilities $19.69M $20.98M
YoY Change -22.4% -15.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.71M $26.92M
Total Long-Term Liabilities $19.69M $20.98M
Total Liabilities $52.40M $47.89M
YoY Change -8.24% -11.52%
SHAREHOLDERS EQUITY
Retained Earnings -$552.5M -$532.1M
YoY Change 32.41% 30.97%
Common Stock $716.8M $713.7M
YoY Change 1.63% -0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $164.3M $181.6M
YoY Change
Total Liabilities & Shareholders Equity $216.7M $229.5M
YoY Change -37.22% -36.83%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$20.42M -$19.57M
YoY Change 85.35% 57.6%
Depreciation, Depletion And Amortization $4.091M $4.191M
YoY Change 8.08% 14.51%
Cash From Operating Activities -$9.991M -$12.10M
YoY Change 64.19% 62.1%
INVESTING ACTIVITIES
Capital Expenditures $3.243M $3.855M
YoY Change -229.67% 14.09%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$3.243M -$3.855M
YoY Change -77.78% -140.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.009M -$2.914M
YoY Change -93.0% -76.48%
NET CHANGE
Cash From Operating Activities -9.991M -$12.10M
Cash From Investing Activities -3.243M -$3.855M
Cash From Financing Activities -1.009M -$2.914M
Net Change In Cash -14.24M -$18.87M
YoY Change -59.42% 80.83%
FREE CASH FLOW
Cash From Operating Activities -$9.991M -$12.10M
Capital Expenditures $3.243M $3.855M
Free Cash Flow -$13.23M -$15.96M
YoY Change 269.25% 47.14%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001327318
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-36449
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
TRUECAR, INC.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
04-3807511
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
1401 Ocean Ave
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 200
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Santa Monica
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
90401
CY2023Q1 dei City Area Code
CityAreaCode
800
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
200-2000
CY2023Q1 dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
CY2023Q1 dei Trading Symbol
TradingSymbol
TRUE
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
89197235 shares
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
2205000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
0 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
156648000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
175518000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1091000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1073000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14120000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13786000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
4718000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5969000 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
2252000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2562000 usd
CY2023Q1 us-gaap Assets Current
AssetsCurrent
177738000 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
197835000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19380000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18902000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15742000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16940000 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
12774000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
13969000 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3884000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3881000 usd
CY2023Q1 us-gaap Assets
Assets
229518000 usd
CY2022Q4 us-gaap Assets
Assets
251527000 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
9334000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
8655000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3908000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7378000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4584000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4514000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9091000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10232000 usd
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
26917000 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
30779000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17221000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18500000 usd
CY2023Q1 us-gaap Other Liabilities
OtherLiabilities
3754000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
4981000 usd
CY2023Q1 us-gaap Liabilities
Liabilities
47892000 usd
CY2022Q4 us-gaap Liabilities
Liabilities
54260000 usd
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
89061768 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
89061768 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
88439088 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
88439088 shares
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
9000 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
9000 usd
CY2023Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
713714000 usd
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
709790000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-532097000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-512532000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
181626000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
197267000 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
229518000 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
251527000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36980000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43533000 usd
CY2023Q1 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
3846000 usd
CY2022Q1 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
4946000 usd
CY2023Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26766000 usd
CY2022Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27081000 usd
CY2023Q1 true Technology And Development
TechnologyAndDevelopment
12498000 usd
CY2022Q1 true Technology And Development
TechnologyAndDevelopment
10255000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10846000 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11724000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4191000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3660000 usd
CY2023Q1 us-gaap Costs And Expenses
CostsAndExpenses
58147000 usd
CY2022Q1 us-gaap Costs And Expenses
CostsAndExpenses
57666000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-21167000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-14133000 usd
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1608000 usd
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
27000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1749000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-19559000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-12357000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-19565000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-12414000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.22
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.22
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.13
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.13
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88647000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88647000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95924000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95924000 shares
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-19565000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12414000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
197267000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-19565000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4930000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1006000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
181626000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
329786000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-12414000 usd
CY2021Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
11028000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3744000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-861000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
309227000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-19565000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-12414000 usd
CY2023Q1 true Depreciation Depletion And Amortization Operating Activities
DepreciationDepletionAndAmortizationOperatingActivities
4191000 usd
CY2022Q1 true Depreciation Depletion And Amortization Operating Activities
DepreciationDepletionAndAmortizationOperatingActivities
3660000 usd
CY2023Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0 usd
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
16000 usd
CY2023Q1 true Provision For Doubtful Accounts And Other Reserves
ProvisionForDoubtfulAccountsAndOtherReserves
96000 usd
CY2022Q1 true Provision For Doubtful Accounts And Other Reserves
ProvisionForDoubtfulAccountsAndOtherReserves
160000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4708000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3498000 usd
CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
591000 usd
CY2022Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
909000 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1097000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1749000 usd
CY2023Q1 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-351000 usd
CY2022Q1 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
0 usd
CY2023Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
194000 usd
CY2022Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
315000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
430000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1442000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1364000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
149000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
560000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-249000 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2749000 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1529000 usd
CY2023Q1 true Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
-1209000 usd
CY2022Q1 true Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
-1383000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1160000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-180000 usd
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
48000 usd
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12101000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7465000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3855000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3379000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 usd
CY2022Q1 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
12800000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3855000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9421000 usd
CY2023Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
1908000 usd
CY2022Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
64000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
163000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1070000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1024000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11530000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2914000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-12391000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18870000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10435000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175518000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
245217000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156648000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
234782000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
222000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
246000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
708000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
588000 usd
CY2023Q1 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., Digital Motors Corporation, and TrueCar Wholesale Solutions, Inc. are collectively referred to as “TrueCar” or the “Company”; TrueCar Dealer Solutions, Inc. is referred to as “TCDS,” Digital Motors Corporation is referred to as “Digital Motors,” and TrueCar Wholesale Solutions, Inc. is referred to as “TCWS.” 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 Trade and Payments solutions. TCDS also supports the Company’s Sell Your Car product. The Sell Your Car and Trade solutions give consumers information on the value of the vehicle they wish to sell or trade-in 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 helps consumers calculate accurate monthly payments.</span></div>
CY2023Q1 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 condensed 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 condensed 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 recoverability and related impairment of long-lived assets, valuation allowances with respect to deferred tax assets, useful lives associated with property and equipment and intangible assets, measurement of right-of-use assets and operating lease liabilities, contingencies, and the valuation and assumptions underlying stock-based compensation awards. 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 assets and liabilities assumed in business combinations and performance-based stock units.</span></div>
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
2200000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1073000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3099000 usd
CY2022Q4 true Property Plant And Equipment Gross Assets Not Placed In Service
PropertyPlantAndEquipmentGrossAssetsNotPlacedInService
1500000 usd
CY2023Q1 true Allowance For Doubtful Accounts Receivable Reduction In Revenue
AllowanceForDoubtfulAccountsReceivableReductionInRevenue
704000 usd
CY2022Q1 true Allowance For Doubtful Accounts Receivable Reduction In Revenue
AllowanceForDoubtfulAccountsReceivableReductionInRevenue
790000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
96000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
160000 usd
CY2023Q1 true Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveries
782000 usd
CY2022Q1 true Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveries
1536000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1091000 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2513000 usd
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1700000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
103004000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
103391000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
83624000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
84489000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19380000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18902000 usd
CY2023Q1 true Property Plant And Equipment Gross Assets Not Placed In Service
PropertyPlantAndEquipmentGrossAssetsNotPlacedInService
2000000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4708000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3498000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
222000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
246000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4930000 usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
3744000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-19565000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-12414000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88647000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88647000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95924000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95924000 shares
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.22
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.22
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.13
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.13
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18345000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17210000 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
CY2023Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
45800000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36980000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43533000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
900000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
900000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
900000 usd

Files In Submission

Name View Source Status
0001327318-23-000018-index-headers.html Edgar Link pending
0001327318-23-000018-index.html Edgar Link pending
0001327318-23-000018.txt Edgar Link pending
0001327318-23-000018-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
R9999.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
true-20230331.htm Edgar Link pending
true-20230331.xsd Edgar Link pending
trueq12023ex311.htm Edgar Link pending
trueq12023ex312.htm Edgar Link pending
trueq12023ex321.htm Edgar Link pending
true-20230331_cal.xml Edgar Link unprocessable
true-20230331_lab.xml Edgar Link unprocessable
true-20230331_def.xml Edgar Link unprocessable
true-20230331_pre.xml Edgar Link unprocessable
true-20230331_htm.xml Edgar Link completed