Slide 1: Q1 2025 Earnings Presentation
Q1 2025 Earnings Presentation May 8, 2025
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation includes forward-looking statements. Other than statements of historical facts, all statements contained in this presentation, including statements regarding our future financial and operating results; our second quarter 2025 fin
Slide 3: Financial Highlights: Q1 2025
Financial Highlights: Q1 2025 Revenue ($ millions) GAAP Gross Profit ($ millions) Non-GAAP Adjusted EBITDA1 ($ millions) % YoY (7%) (9%) 5% 2% 4% % Margin 81% 83% 79% 87% 89% Non-GAAP Margin 23% 25% 28% 33% 29% 76.4 231.4 228.5 225.2 215.8 218.7 64.9 27.3 18.3 12.9 66.3 -55% 199.0 199.7 28.6 23.5 18
Slide 4: Drivers of Value Creation: Q1 2025 Updates
Drivers of Value Creation: Q1 2025 Updates Expanding Suite of Data- Powering a More Intelligent Enabling More of the Driven Dealer Solutions to and Seamless Journey for Transaction Online to Drive Profitable Businesses Car Shoppers Streamline the Final Steps ● Next Best Deal Rating: 17,000 global ●
Slide 5: Strong Expansion of Global Paying Dealer Base with Robust YoY QARSD Growth
Strong Expansion of Global Paying Dealer Base with Robust YoY QARSD Growth QARSD1 Paying Dealers1 $6,144 $6,173 +9.0% $5,848 $6,038 $5,664 YoY +1,197 $2,057 $2,072 $2,073 32,372 $1,882 $1,935 31,175 31,352 31,684 32,010 Dealers YoY 6,756 6,906 7,123 7,318 7,219 $6,702 $6,942 $7,177 $7,337 $7,369 24,
Slide 6: Market-leading Consumer Experience
Market-leading Consumer Experience U.S. Average Monthly Visitors1 2 Average Monthly Unique Visits3 60% (millions) (millions) More average monthly visits than our closest competitor4 ~37% Of our average monthly unique visitors do not visit our competitors’ sites5 48% More minutes per unique visitor o
Slide 7: Marketplace (U.S. Segment & Other) Q1 2025 Results
Marketplace (U.S. Segment & Other) Q1 2025 Results Revenue Non-GAAP Gross Profit1 +14.5% ($ millions) ($ millions) $196 $198 YoY $191 $182 $212 +13.4% $210 $173 YoY $204 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 $195 Non-GAAP Margin 92% 93% 93% 93% 93% $187 Adjusted EBITDA1 ($ millions) $79 $70 $70 +26.7% $61 Y
Slide 8: Digital Wholesale Q1 2025 Results
Digital Wholesale Q1 2025 Results Revenue Non-GAAP Gross Profit1 ($ millions) ($ millions) $3 $3 $2 $2 $29 $27 $1 $24 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 $18 Non-GAAP Margin 11% 3% 7% 15% 15% $13 Adjusted EBITDA1 ($ millions) ($3) ($3) ($4) ($5) ($6) Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q1'24 Q2'24 Q3'24 Q4'24 Q
Slide 9: Second Quarter 2025 Outlook
Second Quarter 2025 Outlook Q2’25 Total Revenue $222.0 million to $242.0 million Marketplace Revenue $219.5 million to $224.5 million Non-GAAP Adjusted EBITDA $71.5 million to $79.5 million Non-GAAP Earnings Per Share $0.52 to $0.58 The second quarter 2025 non-GAAP earnings per share calculation ass
Slide 10: Appendix
Appendix
Slide 11: Digital Wholesale Platform Transaction Volume
Digital Wholesale Platform Transaction Volume Gross Merchandise Sales (GMS)1 Total Transactions2 ($ millions) $300 11,000 10,302 $250 8,778 8,249 $215 $195 7,066 $155 $150 5,500 5,209 $115 $0 0 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 1. We define Gross Merchandise Sales (GMS) as
Slide 12: Marketplace GAAP to Non-GAAP Gross Profit and Non-GAAP Gross Margin Reconciliation
Marketplace (U.S. Marketplace Segment & Other) GAAP to Non-GAAP Gross Profit and Non-GAAP Gross Margin Reconciliation ($ thousands) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 GAAP U.S. Marketplace Segment Revenue $ 172,988 $ 180,052 $ 187,253 $ 193,395 $ 195,228 GAAP Other Revenue 14,231 15,115 16,766 16,799 17,
Slide 13: Digital Wholesale GAAP to Non-GAAP Gross Profit (Loss) and Gross Margin Reconciliation
Digital Wholesale GAAP to Non-GAAP Gross Profit (Loss) and Non-GAAP Gross Margin Reconciliation ($ thousands) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 GAAP Wholesale Revenue $ 16,125 $ 13,119 $ 12,107 $ 9,850 $ 7,747 GAAP Product Revenue 12,452 10,406 15,232 8,494 5,176 GAAP Digital Wholesale Revenue $ 28,577
Slide 14: Non-GAAP Marketplace Adjusted EBITDA Reconciliation
Non-GAAP Marketplace (U.S. Marketplace Segment & Other) Adjusted EBITDA Reconciliation ($ thousands) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 U.S. Marketplace Segment Income from Operations $ 34,217 $ 42,043 $ 50,410 $ 56,068 $ 49,781 Other Income from Operations 2,407 2,531 2,341 2,710 1,753 GAAP Marketplace
Slide 15: Non-GAAP Digital Wholesale Adjusted EBITDA Reconciliation
Non-GAAP Digital Wholesale Adjusted EBITDA Reconciliation ($ thousands) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 GAAP Digital Wholesale Loss from Operations $ (10,340) $ (138,158) $ (25,317) $ (5,500) $ (5,779) Impact of Depreciation and Amortization 4,281 3,436 2,286 1,386 908 Impact of Impairment - 127,655 1
Slide 16: Non-GAAP Adjusted EBITDA Reconciliation
Non-GAAP Adjusted EBITDA Reconciliation ($ thousands) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 GAAP Net Income (Loss) $ 21,301 $ (68,721) $ 22,511 $ 45,881 $ 39,045 Impact of Depreciation and Amortization 7,481 5,663 5,178 7,038 6,554 Impact of Impairment - 127,655 16,776 - - Impact of Stock-Based Compensation