Cars.com Inc. · NYSE:CARS

Cars.com — Q1 2026 Earnings Presentation

18 slides from Cars.com's earnings presentation, May 7, 2026

1. Slide 1: First Quarter 2026 Earnings

   First Quarter 2026 Earnings May 7, 2026

2. Slide 2: Forward-Looking Statements

   Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical facts are forward-looking statements. These statements often use words such as “believe,” “expect,” “project,” “ant

3. Slide 3: Forward-Looking Statements

   Forward-Looking Statements This presentation discusses Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Free Cash Flow and Adjusted Operating Expenses. These financial measures are not prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). The

4. Slide 4: Continued Revenue and Dealer Count Growth YoY

   Continued Revenue and Dealer Count Growth YoY Dealer Revenue ($MM) Adj. EBITDA ($MM) Revenue ($MM) & Dealer Count & Margin (% Revenue) 19,390 19,250 $180 28.3% 28.3% $179 $163 $159 $51 $51 Q1’25 Q1’26 Q1’25 Q1’26 Q1’25 Q1’26 Revenue +1% YoY Dealer Revenue +2% YoY Adj. EBITDA +1% YoY Dealer Count +14

5. Slide 5: Making Progress on 2026 Initiatives

   Making Progress on 2026 Initiatives PRODUCT DEVELOPMENT COST AND PROCESSES ORGANIZATION Cars.com MCP integration for Cost reduction program initiated in Approximately 11% reduction in full agentic AI platforms April 2025 time roles announced in April Dealer App mobile assistant FY27 annualized cost

6. Slide 6: Building an Interconnected Marketplace

   Building an Interconnected Marketplace Interconnectivity Trust • Speed • Data April cost reduction Process and Accelerating product program organizational innovation changes underway Laying a strong foundation in 2026 to support long-term growth strategy 6

7. Slide 7: Revenue Growth In Line with Guidance Range

   Revenue Growth In Line with Guidance Range Quarterly Revenue ($MM) ● Q1 revenue of $180.2MM grew +1% YoY, in line with guidance of flat to 1% (9%) +13% +28% +17% +15% +6% +5% (5%) YoY (12%) YoY YoY growth YoY YoY YoY YoY YoY YoY YoY ● Dealer revenue was up +2% YoY, driven by improved Marketplace and

8. Slide 8: Stable Dealer Count and ARPD

   Stable Dealer Count and ARPD Dealer Customers Average Revenue Per Dealer 19,390 $2,473 YoY growth based on Marketplace growth ARPD was roughly flat QoQ and YoY with positive QoQ performance primarily reflects lower Solutions Marketplace and Solutions contribution offset by subscriptions softer media at

9. Slide 9: Solutions Subscriptions Declined Modestly in Q1

   Solutions Subscriptions Declined Modestly in Q1 Website Customers AccuTrade Connected Subscriptions & Appraisals ~7,640 ~1,070 9

10. Slide 10: Adj EBITDA Margin Exceeded Expectations by +130 bps

    Adj EBITDA Margin Exceeded Expectations by +130 bps Quarterly Adjusted EBITDA ($MM) & Margin (% Revenue) ● Operating expenses declined (5%) YoY (9%) (12%) ● Adjusted operating expenses were (5%) YoY YoY YoY down (6)% YoY, benefiting from lower depreciation and amortization and marketing expenditures

11. Slide 11: Cash Flow Generation Remains Strong

    Cash Flow Generation Remains Strong Free Cash Flow ($MM) Share Repurchase ($MM) Repurchased 3.8 million shares for $32.9 million year-to-date through April 30, 2026 ~60% of Free Cash Flow deployed for share repurchases in Q1 FY26 share repurchase target was raised to $90MM, or ~50% higher than origi

12. Slide 12: Outlook

    Outlook Q2 2026 OUTLOOK ● Revenue: Flat to 2% YoY growth ● Adjusted EBITDA margin: 28% to 29% REAFFIRM FULL YEAR 2026 OUTLOOK ● Revenue: Flat to 2% YoY growth ● Adjusted EBITDA margin: 29% to 30% 2026 SHARE REPURCHASE TARGET ● Reaffirming $90 million target, which was previously raised on April 9, 202

13. Slide 13: Q&A

    Q&A 13

14. Slide 14: Appendix: Non-GAAP Reconciliations

    NON-GAAP RECONCILIATIONS Appendix 14

15. Slide 15: Quarterly Key Operating Metrics

    Quarterly Key Operating Metrics Q1 2026 Q1 2025 AVERAGE MONTHLY 25.8 MM 29.0 MM UNIQUE VISITORS1 TRAFFIC (VISITS)1 159.6 MM 170.1 MM DEALER CUSTOMERS2 19,390 19,250 MONTHLY ARPD3 $2,473 $2,473 1. UVs and Traffic are measured via RudderStack. These metrics do not include traffic to Dealer Inspire, D2C Me

16. Slide 16: Non-GAAP Reconciliations

    Non-GAAP Reconciliations (UNAUDITED AND IN THOUSANDS) 16

17. Slide 17: Non-GAAP Reconciliations

    Non-GAAP Reconciliations (UNAUDITED AND IN THOUSANDS) 17

18. Slide 18: Non-GAAP Reconciliations

    Non-GAAP Reconciliations (UNAUDITED AND IN THOUSANDS) 18

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