TrueCar, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 01, 2023 at 06:28 am EDT
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TrueCar, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 39.29 million compared to USD 42.28 million a year ago. Net loss was USD 20.42 million compared to USD 11.02 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.12 a year ago.
For the six months, sales was USD 76.27 million compared to USD 85.81 million a year ago. Net loss was USD 39.99 million compared to USD 23.43 million a year ago. Basic loss per share from continuing operations was USD 0.45 compared to USD 0.25 a year ago.
TrueCar, Inc. is an automotive digital marketplace that enables car buyers to connect to its network of Certified Dealers. It offers a software ecosystem on a common technology infrastructure, powered by data and analytics. Its company-branded platform is available on its TrueCar Website and mobile applications. Its network of TrueCar Certified Dealers consists primarily of new car franchises, representing all makes of cars, as well as independent dealers selling used vehicles. Key elements of its core leads-based consumer experience include Research & Discovery, New Car Build Experience, New and Used Car Inventory Search, Consumer Cohorts, Vehicle Identification Numbers (VIN) Offers, TrueCar Post Prospect Unified Vehicle Detail Page, Trade and Sell Your Car and Finance and Insurance Features. Its network of TrueCar Certified Dealers utilizes the Dealer Portal, an application that is accessible online and on mobile devices, as a sales enhancement platform.