March 06, 2015 2:50 AM ET

Internet Software and Services

Company Overview of TrueCar, Inc.

Company Overview

TrueCar, Inc. operates as an Internet-based information, technology, and communication services company. The company operates data-driven online platform through its TrueCar.com Website. TrueCar, Inc. also operates its platform for affinity group marketing partners, such as USAA and consumer reports, financial institutions, and other large enterprises. It enables users to obtain market-based pricing data on new and used cars, as well as to connect with its network of TrueCar certified dealers. The company, formerly known as Zag.com Inc., was founded in 2005 and is based in Santa Monica, California.

120 Broadway

Suite 200

Santa Monica, CA 90401

United States

Founded in 2005

Phone:

800-200-2000

Key Executives for TrueCar, Inc.

Co-Founder, Chairman and Chief Executive Officer
Age: 45
Total Annual Compensation: $545.1K
Chief Financial Officer
Age: 48
Total Annual Compensation: $240.0K
Compensation as of Fiscal Year 2013.

TrueCar, Inc. Key Developments

TrueCar, Inc. Presents at Morgan Stanley 2015 Technology, Media & Telecom Conference, Mar-04-2015 03:40 PM

TrueCar, Inc. Presents at Morgan Stanley 2015 Technology, Media & Telecom Conference, Mar-04-2015 03:40 PM. Venue: The Palace Hotel, 2 New Montgomery Street, San Francisco, CA 94105, United States. Speakers: Scott Painter, Co-Founder, Chairman and Chief Executive Officer.

TrueCar, Inc. to Power AAA Northern California Car-Buying Program for over 4.2 Million Members

TrueCar, Inc. launched a new partnership with AAA Northern California, Nevada and Utah that will connect its expansive membership base with upfront pricing information through a network of over 10,000 TrueCar Certified Dealers. The partnership connects AAA Northern California, Nevada and Utah's more than 4.2 million members to TrueCar Certified Dealers for a 'No Surprises' buying experience and average savings of more than $3,000 off of manufacturer's suggested retail price (MSRP). In recognition of the value of its program, TrueCar was honored as a five-year preferred supplier at the 2014 AAA Automotive Conference on June 25 in Charlotte, North Carolina, which recognized TrueCar's commitment to AAA and its members.

TrueCar, Inc. Announces Consolidated Unaudited Financial and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of Fiscal 2015

TrueCar, Inc. announced consolidated unaudited financial and operating results for the fourth quarter and full year ended December 31, 2014. Revenues were $55.5 million, an increase of 38% from $40.1 million in the fourth quarter of 2013. Adjusted EBITDA of $4.3 million compared to a loss of $0.3 million in the fourth quarter of 2013 and representing an adjusted EBITDA margin of 7.7%. Non-GAAP net income of $0.3 million or $0.00 diluted per share compared to non-GAAP net income of $0.3 million or $0.00 diluted per share in the third quarter of 2014. Net loss was $9.8 million or $0.13 per basic and diluted share compared to a net loss of $13.6 million or $0.18 per basic and diluted share in the third quarter of 2014. Loss from operations was $9.604 million against $7.300 million a year ago. Loss before provision for income taxes was $9.631 million against $7.450 million a year ago. Revenues were $206.6 million, an increase of 54% from $134.0 million in 2013. Adjusted EBITDA was $10.9 million in 2014, an increase of 409% from $2.1 million in 2013. Non-GAAP net loss of $3.3 million or $0.05 diluted per share compared to a non-GAAP net loss of $11.9 million or $0.20 diluted per share in 2013. Net loss of $48.4 million or $0.68 per basic and diluted share compared to a net loss of $25.1 million or $0.43 per basic and diluted share in 2013. Loss from operations was $47.505 million against $22.628 million a year ago. Loss before provision for income taxes was $47.789 million against $24.477 million a year ago. The number of average monthly unique visitors increased 34% to 4.4 million for the fourth quarter of 2014, up from approximately 3.3 million in the fourth quarter of 2013. The number of units increased 43% to 163,338 in the fourth quarter of 2014, up from 113,931 in the fourth quarter of 2013. Monetization was $314 during the fourth quarter of 2014. In 2014, the number of average monthly unique visitors increased 55% to approximately 4.3 million, up from 2.8 million in 2013. In 2014, the number of units increased 53% to 610,620, up from 399,919 in 2013. Monetization was $310 for full year 2014. The company provided earnings guidance for the first quarter ending March 31, 2015 and full year ending December 31, 2015. For the first quarter, revenues are expected to be approximately $59.0 million. Adjusted EBITDA is expected to be $3.5 million to $3.8 million, representing 6% - 6.5% margin. For the full year, revenues are expected to be in the range of $280.0 million to $290.0 million. Adjusted EBITDA is expected to be in the range of $26.6 million to $29.0 million.

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