S U P P L E M E N T A L M A T E R I A L S
First Quarter 2024
Quarter Ended March 31, 2024
S U P P L E M E N T A L M A T E R I A L S
Important Information
This presentation contains forward-looking statements. All statements other than statements of historical fact contained in this presentation, including our expectations regarding future adjusted EBITDA and expected revenue growth, are forward-looking statements. These forward- looking statements are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause our results to differ materially from those expressed or implied by such forward-looking statements, and include, among others, those risks and uncertainties described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission, or SEC, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 to be filed with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement we may make. All forward-looking statements in this presentation are based on information available to our management as of the date of this presentation, and except as required by law, we assume no obligation to update any forward-looking statement, each of which speaks only as of the date of this presentation.
In addition to U.S. GAAP financial measures, this presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures is set forth in the Appendix to this presentation.
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S U P P L E M E N T A L M A T E R I A L S
Q1 2024 Metrics Year over Year:
Revenue, Non-GAAP Expenses, and Adj. EBITDA
REVENUENON-GAAP EXPENSES
11% | (17%) | |
Y/Y | $48.3M | Y/Y |
$41.1M | $40.1M | |
$37.0M |
Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 |
Note: See the reconciliations of net loss to Adjusted EBITDA and GAAP expenses to Non-GAAP expenses in the Appendix.
Certain amounts may not add up due to rounding.
ADJ. EBITDA
(31%) 2%
MarginMargin
$0.9M
($11.3)M
Q1 2023 | Q1 2024 |
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S U P P L E M E N T A L M A T E R I A L S
Q1 2024 Metrics Year over Year:
Traffic, Dealer Count, and Units
Avg. Monthly | Franchise | Independent | ||||||
Unique Visitors | Dealers | Dealers | ||||||
TRAFFIC | DEALER COUNT | |||||||
(11%) | (4%) | |||||||
Y/Y | 11,832 | Y/Y | ||||||
11,388 | ||||||||
8.7M | ||||||||
3,871 | 3,183 | |||||||
7.7M | ||||||||
(18%) | ||||||||
Y/Y | ||||||||
7,961 | 8,205 | |||||||
3% | ||||||||
Y/Y |
Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 |
UNITS
3%
Y/Y
76K79K
Q1 2023 | Q1 2024 |
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S U P P L E M E N T A L M A T E R I A L S
Q1 2024 Metrics Quarter over Quarter:
Traffic, Dealer Count, and Units
Avg. Monthly | Franchise | Independent | ||||||
Unique Visitors | Dealers | Dealers | ||||||
TRAFFIC | DEALER COUNT | |||||||
10% | (1%) | |||||||
Q/Q | 11,500 | Q/Q | ||||||
11,388 | ||||||||
7.7M | 3,268 | 3,183 | ||||||
(3%) | ||||||||
7.0M | ||||||||
Q/Q | ||||||||
8,232 | 8,205 |
0%
Q/Q
Q4 2023 | Q1 2024 | Q4 2023 | Q1 2024 |
UNITS
3%
Q/Q
77K79K
Q4 2023 | Q1 2024 |
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S U P P L E M E N T A L M A T E R I A L S
Revenue ($ in Millions)
$43.5 | Net Franchise Revenue | Net Independent Revenue | OEM Incentives Revenue | Other Revenue | Other Dealer Product Revenue | ||||||||||||||||||||||
3.3 | $42.3 | $39.1 | $36.7 | $37.0 | $39.3 | 2.9 | $41.1 | 2.9 | $41.3 | 3.0 | $41.1 | 2.6 | |||||||||||||||
3.3 | 3.5 | ||||||||||||||||||||||||||
0.2 | 3.4 | ||||||||||||||||||||||||||
3.8 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||||
0.2 | 0.1 | ||||||||||||||||||||||||||
10.8 | 0.1 | 0.1 | |||||||||||||||||||||||||
1.0 | 11.2 | 1.4 | 9.4 | 0.1 | 3.5 | 4.9 | 5.5 | 6.6 | 4.9 | ||||||||||||||||||
1.2 | 8.4 | 7.4 | 1.0 | 7.0 | 7.0 | ||||||||||||||||||||||
0.8 | 6.7 | ||||||||||||||||||||||||||
28.2 | 26.2 | 24.9 | 23.5 | 24.9 | 25.8 | 26.2 | 26.0 | 26.8 | |||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||||||||||
2022 | 2023 | 2024 | |||||||||||||||||||||||||
Q2 | Q3 | Q4 | Q1 | ||||||||||||||||||||||||
Total Revenue Y/Y: | (7%) | 5% | 13% | 11% | |||||||||||||||||||||||
Other Dealer Product Revenue Y/Y: | (13%) | (16%) | (21%) | (26%) | |||||||||||||||||||||||
Other Revenue Y/Y: | (24%) | (5%) | 16% | 30% | |||||||||||||||||||||||
OEM Incentives Revenue Y/Y: | 151% | 316% | 603% | 368% | |||||||||||||||||||||||
Net Independent Revenue Y/Y: | (37%) | (26%) | (21%) | (10%) | |||||||||||||||||||||||
Net Franchise Revenue Y/Y: | (2%) | 5% | 11% | 8% | |||||||||||||||||||||||
Note: Other Revenue includes revenue from Finance and Insurance offerings. Other Dealer Product Revenue includes our Access (including Trade and DealerScience), TrueCar Reach, Sell Your Car, Distance Retailing, Digital Motors and Sponsored Listings offerings. | 6 |
Certain amounts may not add up due to rounding. |
S U P P L E M E N T A L M A T E R I A L S
Franchise Dealer Overview
Franchise Dealer Count | Monthly Franchise Revenue Per Franchise Dealer (period avg.) | |
8,299 | 7,908 | 7,776 | 7,924 |
$1,119 | $1,079 | $1,058 | $1,000 |
Q1 | Q2 | Q3 | Q4 |
2022 |
7,961 | 8,152 | 8,097 | 8,232 | 8,205 | |
$1,046 | $1,067 | $1,077 | $1,063 | $1,088 | |
Q1 | Q2 | Q3 | Q4 | Q1 | |
2023 | 2024 |
Q2 | Q3 | Q4 | Q1 | |
Franchise Dealer Count Y/Y: | 3% | 4% | 4% | 3% |
Franchise Revenue / Dealer Y/Y: | (1%) | 2% | 6% | 4% |
Franchise Dealer Count Q/Q: | 2% | (1%) | 2% | 0% |
Franchise Revenue / Dealer Q/Q: | 2% | 1% | (1%) | 2% |
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S U P P L E M E N T A L M A T E R I A L S
Independent Dealer Overview
Independent Dealer Count | Monthly Independent Revenue Per Independent Dealer (period avg.) | |
4,106 | 4,178 | 4,196 | 4,148 |
3,871 | 3,489 | 3,406 | ||
3,268 | 3,183 | |||
$890 $899
$751 $674
$616 | $636 | $674 | $665 | $687 |
Q1 | Q2 | Q3 | Q4 |
2022
Q1 | Q2 | Q3 | Q4 | Q1 | |
2023 | 2024 |
Q2 | Q3 | Q4 | Q1 | |
Independent Dealer Count Y/Y: | (16%) | (19%) | (21%) | (18%) |
Independent Revenue / Dealer Y/Y: | ||||
(29%) | (10%) | (1%) | 12% | |
Independent Dealer Count Q/Q: | (10%) | (2%) | (4%) | (3%) |
Independent Revenue / Dealer Q/Q: | 3% | 6% | (1%) | 3% |
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S U P P L E M E N T A L M A T E R I A L S
Traffic (Millions)
Average Monthly Unique Visitors
8.7 | 8.3 | 8.1 | 7.7 | |||
7.3 | 7.2 | 7.6 | 7.4 | |||
7.0 |
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | ||||
2022 | 2023 | 2024 | ||||||||||
Q2 | Q3 | Q4 | Q1 | |||||||||
Y/Y Growth: | 15% | 6% | (5%) | (11%) | ||||||||
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S U P P L E M E N T A L M A T E R I A L S
Units by Acquisition Channel (Thousands)
92 | 90 | 82 | |
77 | |||
52 | 52 | 47 | 45 |
39 | 38 | 35 | 32 |
Q1 | Q2 | Q3 | Q4 |
2022 |
Note: Certain amounts may not add up due to rounding.
TrueCar.com Extended Affinity
76 | 83 | 83 | 77 | 79 | |
48 | 52 | 54 | 51 | 52 | |
29 | 31 | 29 | 26 | 27 | |
Q1 | Q2 | Q3 | Q4 | Q1 | |
2023 | 2024 |
Q2 | Q3 | Q4 | Q1 | |
Total Units Y/Y: | (8%) | 1% | (1%) | 3% |
Extended Affinity Units Y/Y: | ||||
0% | 14% | 15% | 8% | |
TrueCar.com Units Y/Y: | (19%) | (17%) | (21%) | (4%) |
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Disclaimer
TrueCar Inc. published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2024 20:08:55 UTC.