2024 Q2 Form 10-Q Financial Statement
#000132731824000016 Filed on May 06, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| Revenue | $41.80M | $41.05M |
| YoY Change | 6.37% | 11.01% |
| Cost Of Revenue | $5.484M | $4.261M |
| YoY Change | 39.51% | 10.79% |
| Gross Profit | $36.31M | $36.79M |
| YoY Change | 2.68% | 11.04% |
| Gross Profit Margin | 86.88% | 89.62% |
| Selling, General & Admin | $39.38M | $31.57M |
| YoY Change | -1.32% | -16.07% |
| % of Gross Profit | 108.46% | 85.8% |
| Research & Development | $7.433M | $8.123M |
| YoY Change | -44.98% | -35.01% |
| % of Gross Profit | 20.47% | 22.08% |
| Depreciation & Amortization | $4.684M | $4.585M |
| YoY Change | 14.5% | 9.4% |
| % of Gross Profit | 12.9% | 12.46% |
| Operating Expenses | $39.38M | $31.57M |
| YoY Change | -31.52% | -16.07% |
| Operating Profit | -$15.19M | -$7.485M |
| YoY Change | -31.42% | -64.64% |
| Interest Expense | $1.672M | $1.644M |
| YoY Change | -3.35% | 2.24% |
| % of Operating Profit | ||
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | -$13.52M | -$5.841M |
| YoY Change | -33.8% | -70.14% |
| Income Tax | $3.000K | $7.000K |
| % Of Pretax Income | ||
| Net Earnings | -$13.52M | -$5.848M |
| YoY Change | -33.8% | -70.11% |
| Net Earnings / Revenue | -32.35% | -14.25% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$0.15 | -$0.06 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 91.67M shares | 91.17M shares |
| Diluted Shares Outstanding | 91.85M shares | 91.23M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $128.0M | $131.8M |
| YoY Change | -10.15% | -14.64% |
| Cash & Equivalents | $128.0M | $133.7M |
| Short-Term Investments | ||
| Other Short-Term Assets | $2.753M | $1.703M |
| YoY Change | -68.62% | -24.38% |
| Inventory | ||
| Prepaid Expenses | $6.895M | $4.850M |
| Receivables | $16.30M | $15.11M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $153.9M | $155.3M |
| YoY Change | -8.07% | -12.6% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $16.95M | $17.91M |
| YoY Change | -49.62% | -7.57% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | $5.170M | $6.773M |
| YoY Change | -55.35% | -46.98% |
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $3.976M | $3.957M |
| YoY Change | -2.33% | 1.88% |
| Total Long-Term Assets | $29.11M | $38.18M |
| YoY Change | -40.94% | -26.26% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $153.9M | $155.3M |
| Total Long-Term Assets | $29.11M | $38.18M |
| Total Assets | $183.0M | $193.5M |
| YoY Change | -15.55% | -15.68% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $9.082M | $9.174M |
| YoY Change | -4.77% | -1.71% |
| Accrued Expenses | $14.20M | $11.74M |
| YoY Change | -38.73% | 29.12% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $28.86M | $26.78M |
| YoY Change | -11.75% | -0.51% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $10.27M | $10.72M |
| YoY Change | -47.85% | -48.92% |
| Total Long-Term Liabilities | $10.27M | $10.72M |
| YoY Change | -47.85% | -48.92% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $28.86M | $26.78M |
| Total Long-Term Liabilities | $10.27M | $10.72M |
| Total Liabilities | $39.13M | $37.50M |
| YoY Change | -25.32% | -21.71% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$581.7M | -$568.1M |
| YoY Change | 5.27% | 6.77% |
| Common Stock | $725.6M | $724.2M |
| YoY Change | 1.22% | 1.46% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $143.9M | $156.0M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $183.0M | $193.5M |
| YoY Change | -15.55% | -15.68% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$13.52M | -$5.848M |
| YoY Change | -33.8% | -70.11% |
| Depreciation, Depletion And Amortization | $4.684M | $4.585M |
| YoY Change | 14.5% | 9.4% |
| Cash From Operating Activities | -$2.003M | $2.049M |
| YoY Change | -79.95% | -116.93% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $1.621M | $2.560M |
| YoY Change | -50.02% | -33.59% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$1.621M | -$2.560M |
| YoY Change | -50.02% | -33.59% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -2.109M | -$2.766M |
| YoY Change | 109.02% | -5.08% |
| NET CHANGE | ||
| Cash From Operating Activities | -2.003M | $2.049M |
| Cash From Investing Activities | -1.621M | -$2.560M |
| Cash From Financing Activities | -2.109M | -$2.766M |
| Net Change In Cash | -5.733M | -$3.277M |
| YoY Change | -59.75% | -82.63% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$2.003M | $2.049M |
| Capital Expenditures | $1.621M | $2.560M |
| Free Cash Flow | -$3.624M | -$511.0K |
| YoY Change | -72.62% | -96.8% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
91573738 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
91091541 | shares |
| CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
91573738 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
91091541 | shares |
| CY2024Q1 | us-gaap |
Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
|
4261000 | usd |
| CY2023Q1 | us-gaap |
Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
|
3846000 | usd |
| CY2024Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
22082000 | usd |
| CY2023Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
26766000 | usd |
| CY2024Q1 | true |
Technology And Development
TechnologyAndDevelopment
|
8123000 | usd |
| CY2023Q1 | true |
Technology And Development
TechnologyAndDevelopment
|
12498000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
9486000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
10846000 | usd |
| CY2024Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
4585000 | usd |
| CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
4191000 | usd |
| CY2024Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
48537000 | usd |
| CY2023Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
58147000 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7485000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-21167000 | usd |
| CY2024Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
1644000 | usd |
| CY2023Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
1608000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-5841000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-19559000 | usd |
| CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
7000 | usd |
| CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
6000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5848000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19565000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.06 | |
| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.06 | |
| 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 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
91234000 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
91234000 | shares |
| 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 |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-5848000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-19565000 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
160215000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5848000 | usd |
| CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2822000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
-1156000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
156033000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
197267000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19565000 | usd |
| CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
4930000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
-1006000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
181626000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5848000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19565000 | usd |
| CY2024Q1 | true |
Depreciation Depletion And Amortization Operating Activities
DepreciationDepletionAndAmortizationOperatingActivities
|
4585000 | usd |
| CY2023Q1 | true |
Depreciation Depletion And Amortization Operating Activities
DepreciationDepletionAndAmortizationOperatingActivities
|
4191000 | usd |
| CY2024Q1 | true |
Provision For Doubtful Accounts And Other Reserves
ProvisionForDoubtfulAccountsAndOtherReserves
|
217000 | usd |
| CY2023Q1 | true |
Provision For Doubtful Accounts And Other Reserves
ProvisionForDoubtfulAccountsAndOtherReserves
|
96000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2632000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4708000 | usd |
| CY2024Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
92000 | usd |
| CY2023Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
591000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
591000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
909000 | usd |
| CY2024Q1 | us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
0 | usd |
| CY2023Q1 | us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
-351000 | usd |
| CY2024Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
383000 | usd |
| CY2023Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
194000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-2941000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
430000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1101000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1364000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2309000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
560000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-3483000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-2749000 | usd |
| CY2024Q1 | true |
Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
|
-877000 | usd |
| CY2023Q1 | true |
Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
|
-1209000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-2594000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-1160000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
0 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
48000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
2049000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-12101000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2560000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3855000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2560000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3855000 | usd |
| CY2024Q1 | us-gaap |
Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
|
1610000 | usd |
| CY2023Q1 | us-gaap |
Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
|
1908000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
64000 | usd |
| CY2024Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1156000 | usd |
| CY2023Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1070000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2766000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2914000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-3277000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-18870000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
136964000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
175518000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
133687000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
156648000 | usd |
| CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
190000 | usd |
| CY2023Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
222000 | usd |
| CY2024Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
374000 | usd |
| CY2023Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
708000 | usd |
| CY2024Q1 | 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 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 | true |
Allowance For Doubtful Accounts Receivable Reduction In Revenue
AllowanceForDoubtfulAccountsReceivableReductionInRevenue
|
704000 | usd |
| CY2024Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
217000 | usd |
| CY2023Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
96000 | usd |
| CY2024Q1 | true |
Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveries
|
800000 | usd |
| CY2023Q1 | true |
Allowance For Doubtful Accounts Receivable Write Offs Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsNetOfRecoveries
|
782000 | usd |
| CY2024Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
965000 | usd |
| CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
1091000 | usd |
| CY2024Q1 | 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 related to right-of-use assets and lease liabilities, assets and liabilities assumed in business combinations, and performance-based stock units.</span></div> | |
| CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
| CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
1118000 | usd |
| CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
1073000 | usd |
| CY2024Q1 | true |
Allowance For Doubtful Accounts Receivable Reduction In Revenue
AllowanceForDoubtfulAccountsReceivableReductionInRevenue
|
430000 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
99931000 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
98051000 | usd |
| CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
82019000 | usd |
| CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
79171000 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
17912000 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
18880000 | usd |
| CY2024Q1 | true |
Property Plant And Equipment Gross Assets Not Placed In Service
PropertyPlantAndEquipmentGrossAssetsNotPlacedInService
|
600000 | usd |
| CY2023Q4 | true |
Property Plant And Equipment Gross Assets Not Placed In Service
PropertyPlantAndEquipmentGrossAssetsNotPlacedInService
|
1000000 | usd |
| CY2023Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
2800000 | usd |
| CY2024Q1 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
2800000 | usd |
| CY2023 | us-gaap |
Restructuring Charges
RestructuringCharges
|
7200000 | usd |
| CY2023Q4 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
951000 | usd |
| CY2024Q1 | us-gaap |
Restructuring Charges
RestructuringCharges
|
0 | usd |
| CY2024Q1 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
795000 | usd |
| CY2024Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
156000 | usd |
| CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2632000 | usd |
| CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4708000 | usd |
| CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
190000 | usd |
| CY2023Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
222000 | usd |
| CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
2822000 | usd |
| CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
4930000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5848000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19565000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
91234000 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
91234000 | shares |
| 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 |
| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.06 | |
| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.06 | |
| 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 | |
| CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
12831000 | shares |
| CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
18345000 | 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 |
| CY2024Q1 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
45800000 | usd |
| CY2024Q1 | true |
Stock Repurchase Program Additional Authorized Amount
StockRepurchaseProgramAdditionalAuthorizedAmount
|
54200000 | usd |
| CY2024Q1 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
100000000 | usd |
| CY2024Q1 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
0 | shares |
| CY2024Q1 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
100000000 | usd |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
41052000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
36980000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
900000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
1000000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
900000 | usd |
