CarGurus, Inc. (CARG) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.137 about our operating results, enhance the overall understanding of past financial 00:00:05.137 -- 00:00:09.862 performance and future prospects, and allow for greater transparency as it relates to 00:00:09.862 -- 00:00:14.428 metrics used by our management in its financial and operational decision-making. 00:00:14.428 -- 00:00:18.673 With that, I'll now turn the call over to Jason. 00:00:18.673 -- 00:00:22.477 Thank you, Kardeep, and thank you all for joining us today. 00:00:22.477 -- 00:00:27.503 In 2024, our North Star was intelligent acceleration, reigniting growth and 00:00:27.503 -- 00:00:32.506 expanding margins. we delivered consistent double-digit year-over-year marketplace 00:00:32.506 -- 00:00:39.172 revenue growth, accelerated new product introductions, and had stronger operating leverage. 00:00:39.172 -- 00:00:44.498 In 2025, we're building on that momentum in what we are calling the year of transformative 00:00:44.498 -- 00:00:46.139 innovation, 00:00:46.139 -- 00:00:48.641 innovation that's customer-centric, 00:00:48.641 -- 00:00:50.223 differentiated, 00:00:50.223 -- 00:00:55.608 heavily leveraging AI, and opens up new avenues of product and platform growth 00:00:55.608 -- 00:00:59.250 for us with both consumers and dealers. 00:00:59.532 -- 00:01:04.660 While innovation is not new to CarGurus, having pioneered a freemium model, instant market 00:01:04.660 -- 00:01:09.767 value, deal ratings, digital deal, and dealer data insights, to name 00:01:09.767 -- 00:01:15.797 just a few, we are innovating in even more profound ways today than we ever have. 00:01:15.797 -- 00:01:19.662 Our organization is better structured to solve customer needs. 00:01:19.662 -- 00:01:24.410 We're dedicating a higher percentage of resources to...