Internet Software and Services
Company Overview of TrueCar, Inc.
TrueCar, Inc. operates as an Internet-based information, technology, and communication services company. The company operates its platform on the TrueCar Website and TrueCar mobile applications. It also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises. The company’s platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers. In addition, it provides data and consulting services regarding determination of the residual value of an automobile at future given points in...
Santa Monica, CA 90401
Founded in 2005
Key Executives for TrueCar, Inc.
Co-Founder, Chairman and Chief Executive Officer
Total Annual Compensation: $450.0K
President and Director
Total Annual Compensation: $348.7K
Chief Financial Officer
Total Annual Compensation: $240.0K
Chief Risk Management Officer and Executive Vice President
Total Annual Compensation: $323.9K
Compensation as of Fiscal Year 2014.
TrueCar, Inc. Key Developments
California New Car Dealers Association Files Legal Action against TrueCar for Non-Compliance with State’s Laws
May 21 15
California New Car Dealers Association filed legal action against TrueCar for its noncompliance with various sections of the California Vehicle Code pertaining to dealer licensing, brokering, advertising and disclosure. Patricia Glaser of the highly respected law firm Glaser Weil filed this litigation in Santa Monica. In legal action filed today, in Los Angeles Superior Court Santa Monica branch, TrueCar is charged with violating key statutes and because of this, both the consumer and new car dealers are not being protected. Based on its conduct, TrueCar acts as a 'Dealer' and a 'Broker', the companies believe TrueCar is in violation of existing consumer protection laws, as TrueCar does not have a Dealer or Auto Broker license.
TrueCar, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter Ending June 30, 2015; Reiterates Earnings Guidance for the Full Year Ending December 31, 2015
May 7 15
TrueCar, Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of $58.554 million against $43.930 million a year ago. Loss from operations was $11.400 million against $9.518 million a year ago. Loss from operations was $11.400 million against $9.518 million a year ago. Net loss was $11.623 million against $9.921 million a year ago. Basic and diluted net loss per share was $0.14 against $0.17 a year ago. Adjusted EBITDA was $4.285 million against $0.998 million a year ago. Non-GAAP net income was $0.126 million against non-GAAP net loss of $2.519 million a year ago.
The company's guidance for the second quarter ending June 30, 2015 is as: revenues are expected to be in the range of $67.0 million to $69.0 million, on units of 205,000-210,000. Adjusted EBITDA is expected to be in the range of $5.5 million to $6.5 million.
The company is reiterating guidance for the full year ending December 31, 2015 as: Revenues are expected to be in the range of $280.0 million to $290.0 million, on units of approximately 825,000. Adjusted EBITDA is expected to be in the range of $26.6 million to $29.0 million.
TrueCar, Inc. Presents at 16th Annual B. Riley & Co. Investor Conference, May-13-2015 09:30 AM
May 6 15
TrueCar, Inc. Presents at 16th Annual B. Riley & Co. Investor Conference, May-13-2015 09:30 AM. Venue: Loews Hollywood Hotel, Los Angeles, California, United States. Speakers: Scott Painter, Co-Founder, Chairman and Chief Executive Officer.
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