Last $17.95 USD
Change Today -0.20 / -1.10%
Volume 543.1K
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As of 8:10 PM 01/23/15 All times are local (Market data is delayed by at least 15 minutes).

truecar inc (TRUE) Key Developments

TrueCar Provides Revenue Guidance for the Year 2014

TrueCar provided revenue guidance for the year 2014. For the year, the company estimates total revenue from consumer purchases of new and used cars and trucks will surpass $1.1 trillion this year. The company said that it expects consistent strong demand for vehicles to lift total vehicle revenue 8.3% this year over about $1 trillion in 2013. The increase comes amid sustained economic expansion, an improving job market, falling gasoline prices and a consumer shift to higher revenue segments, including pickup trucks and luxury vehicles. Total market sales this year should reach 54 million units, an increase of 8%, including 16.5 million new and 37 million used automobiles.

TrueCar, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months and Operating Results for the Third Quarter Ended September 30, 2014; Revises Earnings Guidance for the Fourth Quarter Ending December 31, 2014; Provides Earnings Guidance for the Full Year of 2014

TrueCar, Inc. announced unaudited consolidated earnings results for the third quarter and nine months and operating results for the third quarter ended September 30, 2014. For the quarter, the company reported revenues of $56,751,000 against $37,547,000 a year ago. Loss from operations was $13,527,000 against $4,452,000 a year ago. Loss before provision for income taxes was $13,520,000 against $4,475,000 a year ago. Net loss was $13,640,000 against $4,611,000 a year ago. Basic and diluted net loss per share was $0.18 against $0.08 a year ago. Adjusted EBITDA was $3,860,000 against $2,411,000 a year ago. Non-GAAP net income was $339,000 or $0.00 basic and diluted per share against non-GAAP net loss of $994,000 or $0.02 basic and diluted per share a year ago. The adjusted EBITDA improvements were driven partially by efficiency in sales and marketing spend. It has reduced sales and marketing as a percentage of sales by 170 basis points over second quarter of this year, largely by reducing cost per sale in the TrueCar branded channel. For the six months, the company reported revenues of $151,178,000 against $93,813,000 a year ago. Loss from operations was $37,902,000 against $15,328,000 a year ago. Loss before provision for income taxes was $38,158,000 against $17,027,000 a year ago. Net loss was $38,595,000 against $17,436,000 a year ago. Basic and diluted net loss per share was $0.56 against $0.30 a year ago. Adjusted EBITDA was $6,628,000 against $2,409,000 a year ago. Non-GAAP net loss was $3,569,000 or $0.05 basic and diluted per share against $8,893,000 or $0.05 basic and diluted per share a year ago. For the quarter, the company reported the number of average monthly unique visitors(3) increased 44% to approximately 4.6 million, up from approximately 3.2 million in the third quarter of 2013. The number of units(4) increased 47% to 171,775 in the third quarter of 2014, up from 116,503 in the third quarter of 2013. For the fourth quarter ending December 31, 2014, the company expects revenues to be in the range of $205.7 million to $206.7 million. Adjusted EBITDA is expected to be in the range of $9.2 million to $9.5 million. The company previously expected revenues to be in the range of $54.5 million to $55.5 million. Adjusted EBITDA is expected to be in the range of $2.6 million to $2.9 million. For the full year 2014, the company now expects revenues of approximately $205.7 million to $206.7 million, which represents approximately 54% growth over 2013, and expects adjusted EBITDA to be in the range of $9.2 million to $9.5 million.

TrueCar, Inc. Provides Sales Guidance for the Full Year of 2014 and 2015

TrueCar, Inc. expects sales 2014 will reach 16.4 million units, the best since 2007. In transaction revenue terms, company expects autos to generate $521.5 billion 2014 compared with $292 billion in 2009. The company expects sales could reach 17 million in 2015, if the economy continues to improve and OEMs increase incentive spending. The company has raised its sales forecast for 2015 from 16.5 to 16.7 million vehicles.

TrueCar, Inc. Presents at Goldman Sachs Group 2014 US Emerging / SMID Cap Growth Conference, Nov-20-2014 09:30 AM

TrueCar, Inc. Presents at Goldman Sachs Group 2014 US Emerging / SMID Cap Growth Conference, Nov-20-2014 09:30 AM. Venue: New York Marriott Marquis, New York, New York, United States. Speakers: Michael Guthrie, Chief Financial Officer.

TrueCar, Inc. Provides Preliminary Earnings Guidance for the Third Quarter Ended September 30, 2014

TrueCar, Inc. provided preliminary earnings guidance for the third quarter ended September 30, 2014. For the quarter, the company expects units to be between 170,000 and 171,000. This represents an increase of 46% at the midpoint of the range as compared to 116,503 units in the third quarter of 2013. Revenues are expected to be between $56.6 million and $56.8 million. This compares to the company's prior guidance of revenues in the range of $51.0 million to $54.0 million, and represents an increase of 51% at the midpoint of the range as compared to revenues of $37.5 million for the third quarter of 2013. Adjusted EBITDA is expected to be between $3.7 million and $3.9 million. This compares to the company's prior guidance of $2.0 million to $3.0 million, and represents an increase of 58% at the midpoint of the range, as compared to $2.4 million for the third quarter of 2013. Net Loss is expected to be between $13.8 million and $13.6 million as compared to net loss of $4.6 million for the third quarter of 2013. Non-GAAP Net Income is expected to be between $0.2 million and $0.4 million as compared to a Non-GAAP net loss of $1.0 million for the third quarter of 2013.

 

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