CarGurus, Inc. (CARG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

about our operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency as it relates to metrics used by our management in its financial and operational decision-making. With that, I'll now turn the call over to Jason. Thank you, Kardeep, and thank you all for joining us today. In 2024, our North Star was intelligent acceleration, reigniting growth and expanding margins. we delivered consistent double-digit year-over-year marketplace revenue growth, accelerated new product introductions, and had stronger operating leverage. In 2025, we're building on that momentum in what we are calling the year of transformative innovation, innovation that's customer-centric, differentiated, heavily leveraging AI, and opens up new avenues of product and platform growth for us with both consumers and dealers. While innovation is not new to CarGurus, having pioneered a freemium model, instant market value, deal ratings, digital deal, and dealer data insights, to name just a few, we are innovating in even more profound ways today than we ever have. Our organization is better structured to solve customer needs. We're dedicating a higher percentage of resources to net new products and investing in AI to accelerate innovation. Our strategy for 2025 centers on three value creation drivers. One, expanding our suite of data-driven solutions across dealers' workflows to help them drive more profitable businesses. Two, meeting the evolving needs of car shoppers by powering a more intelligent and seamless journey. And three, enabling dealers and consumers to complete more of the transaction online, streamlining the final steps of the deal. These drivers have fueled meaningful progress in how we operate and the results...