CarGurus, Inc. (CARG) Financial Statements (2024 and earlier)

Company Profile

Business Address 2 CANAL PARK
CAMBRIDGE, MA 02141
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7374 - Computer Processing and Data Preparation and Processing Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments469,517321,944290,299171,612157,687137,709
Cash and cash equivalents469,517231,944190,29959,92034,88787,709
Short-term investments 90,000100,000111,692122,80050,000
Restricted cash and investments5,2376,709250250750 
Receivables46,817189,32418,23522,12413,61412,577
Inventory, net of allowances, customer advances and progress billings5,28219,656    
Inventory5,28219,656    
Prepaid expense    10,45210,1441,533
Contract with customer, asset, after allowance for credit loss8,5419,04510,8079,5445,253
Other current assets    4,9727,410 
Other undisclosed current assets21,97216,43012,385  5,385
Total current assets:557,366563,108331,976218,954194,858157,204
Noncurrent Assets
Operating lease, right-of-use asset56,86960,60960,83559,986
Property, plant and equipment40,12832,21027,48327,95024,26916,563
Intangible assets, net (including goodwill)210,521242,20239,99119,127  
Goodwill157,467158,28729,12915,207  
Intangible assets, net (excluding goodwill)53,05483,91510,8623,920  
Contract with customer, asset, after allowance for credit loss8,8535,8679,18910,5147,252
Restricted cash and investments 9,3789,62710,37710,5531,9211,843
Deferred income tax assets35,48813,37819,774 
Other noncurrent assets8,4994,5732,6733,8261,104159
Other undisclosed noncurrent assets    42,71338,886825
Total noncurrent assets:369,736368,466170,322174,66973,43219,390
TOTAL ASSETS:927,102931,574502,298393,623268,290176,594
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities43,53692,15036,34945,36842,61137,496
Taxes payable6,344    
Employee-related liabilities11,77710,8458,6378,266 
Accounts payable32,52966,15321,56336,73134,34523,908
Accrued liabilities11,0077,8763,941  13,588
Deferred revenue12,24912,7849,1379,984
Debt    8,781  
Deferred rent credit     1,693
Deferred revenue and credits5,470
Contract with customer, liability8,811
Other undisclosed current liabilities42,94865,77521,0509,62510,388 
Total current liabilities:98,733170,70966,53673,75863,50342,966
Noncurrent Liabilities
Long-term debt and lease obligation:  57,51958,81060,818  
Liabilities, other than long-term debt57,01123,6973,3661,90810,6766,603
Deferred revenue and credits5,648
Deferred rent credit     9,395
Deferred income tax liabilities5458291 
Other liabilities5,30123,6393,0751,9081,281955
Operating lease, liability51,65657,51958,81060,818
Other undisclosed noncurrent liabilities    284  
Total noncurrent liabilities:57,01181,21662,17663,01010,6766,603
Total liabilities:155,744251,925128,712136,76874,17949,569
Temporary equity, carrying amount36,749162,808    
Equity
Equity, attributable to parent, including:734,609516,841373,586256,855194,111127,025
Additional paid in capital413,092387,868242,181205,234184,216185,190
Accumulated other comprehensive income (loss)(1,644)(403)1,880(350)71228
Retained earnings (accumulated deficit)323,043129,258129,41251,8599,713(58,499)
Other undisclosed equity, attributable to parent118118113112111106
Total equity:734,609516,841373,586256,855194,111127,025
TOTAL LIABILITIES AND EQUITY:927,102931,574502,298393,623268,290176,594

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,655,035951,373551,451588,916454,086316,861
Cost of revenue
(Cost of Goods and Services Sold)
(997,482)(294,015)(42,706)(36,300)(2,225)(1,140)
Other undisclosed gross profit     (22,586)(16,469)
Gross profit:657,553657,358508,745552,616429,275299,252
Operating expenses(549,075)(509,090)(410,989)(518,294)(406,084)(283,978)
Operating income:108,478148,26897,75634,32223,19115,274
Nonoperating income2,8841,0921,3544,3832,293563
Investment income, nonoperating3,8451201,0752,9842,283869
Loss, foreign currency transaction, before tax      (277)
Other nonoperating income (expense)(961)9722791,39910 
Interest and debt expense      (29)
Other undisclosed income from continuing operations before equity method investments, income taxes      29
Income from continuing operations before income taxes:111,362149,36099,11038,70525,48415,837
Income tax expense (benefit)(32,408)(38,987)(21,557)3,44139,686(2,638)
Income from continuing operations:78,954110,37377,55342,14665,17013,199
Income before gain (loss) on sale of properties:110,37377,55342,14665,17013,199
Net income:78,954110,37377,55342,14665,17013,199
Net income (loss) attributable to noncontrolling interest5,433(1,129)    
Net income attributable to parent:84,387109,24477,55342,14665,17013,199
Preferred stock dividends and other adjustments109,398(109,398)    
Undistributed earnings (loss) allocated to participating securities, basic      (6,098)
Net income (loss) available to common stockholders, basic:193,785(154)77,55342,14665,1707,101
Other undisclosed net income (loss) available to common stockholders, diluted(114,831)    269
Net income (loss) available to common stockholders, diluted:78,954(154)77,55342,14665,1707,370

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:78,954110,37377,55342,14665,17013,199
Other undisclosed comprehensive income (loss)(1,241)(2,283)    
Comprehensive income:77,713108,09077,55342,14665,17013,199
Comprehensive income (loss), net of tax, attributable to noncontrolling interest5,433(1,129)    
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   2,230(421)(157)258
Comprehensive income, net of tax, attributable to parent:83,146106,96179,78341,72565,01313,457

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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