Filing Flows › CarGurus (CARG) › Q1 2025
CarGurus (CARG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
CarGurus (CARG) reported revenue of $225M for the first quarter 2025 (Q1 2025), +4% from a year earlier and +7% from the quarter before. Operating margin was 20.3%, net earnings $39.0M (17.3% of revenue).
CarGurus, Q1 2025: revenue $225M (+4% year over year), operating margin 20.3%, net earnings $39.0M, operating cash flow $67.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $225M | +7% | +4% |
| Gross profit | $198M | +0.9% | +15% |
| Operating profit | $45.8M | -14% | +74% |
| Net earnings | $39.0M | -15% | +83% |
| Operating cash flow | $67.9M | -10% | +31% |
| Free cash flow | $65.6M | +0.2% | +182% |
What changed
Revenue was $225.2M in Q1 2025, up 4% year over year and up 7% from the previous quarter.
Gross margin was 87.9%, up 8.4 points from a year earlier. Operating profit was $45.8M, a 20.3% margin (up 8.1 points year over year). Of the extra revenue versus a year earlier, 208% reached operating profit, above the 12% margin then. Operating expenses grew 5% against revenue growth of 4%. Net earnings were $39.0M, up 83% year over year. The effective tax rate was 19.6%.
Operating cash flow was $67.9M (up 31% year over year), 174% of net earnings. Non-cash charges added back $6.6M of depreciation and amortization and $12.9M of share-based compensation. Working capital and other items added $9.4M. Capital expenditures of $2.2M left free cash flow of $65.6M.
Questions
What was CarGurus' revenue in the first quarter 2025?
CarGurus (CARG) reported revenue of $225M for the first quarter 2025 (Q1 2025), +4% from a year earlier and +7% from the quarter before.
Was CarGurus profitable in the first quarter 2025?
Operating profit was $45.8M (20.3% of revenue) and net earnings $39.0M.
Source: CarGurus 10-Q on SEC EDGAR.