Filing Flows › CarGurus (CARG) › Q2 2025
CarGurus (CARG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
CarGurus (CARG) reported revenue of $234M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +4% from the quarter before. Operating margin was 10.6%, net earnings $22.3M (9.5% of revenue).
CarGurus, Q2 2025: revenue $234M (+7% year over year), operating margin 10.6%, net earnings $22.3M, operating cash flow $73.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $234M | +4% | +7% |
| Gross profit | $206M | +4% | +14% |
| Operating profit | $24.8M | -46% | — |
| Net earnings | $22.3M | -43% | — |
| Operating cash flow | $73.1M | +8% | +2% |
| Free cash flow | $71.5M | +9% | +57% |
What changed
Revenue was $234.0M in Q2 2025, up 7% year over year and up 4% from the previous quarter.
Gross margin was 88.2%, up 5.6 points from a year earlier. Operating profit was $24.8M, a 10.6% margin (up 53.4 points year over year). Operating expenses fell 34% while revenue rose 7%. Net earnings were $22.3M. The effective tax rate was 18.5%.
Operating cash flow was $73.1M (up 2% year over year), 327% of net earnings. Non-cash charges added back $6.7M of depreciation and amortization and $13.0M of share-based compensation. Working capital and other items added $31.1M. Capital expenditures of $1.6M left free cash flow of $71.5M.
Questions
What was CarGurus' revenue in the second quarter 2025?
CarGurus (CARG) reported revenue of $234M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +4% from the quarter before.
Was CarGurus profitable in the second quarter 2025?
Operating profit was $24.8M (10.6% of revenue) and net earnings $22.3M.
Source: CarGurus 10-Q on SEC EDGAR.