CarGurus, Inc. (CARG) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and welcome to the Card Guru's first quarter 2026 earnings conference call. Please note, this event is being recorded. I would now like to turn the call over to Kandeep Singh, Vice President of Head, Investor Relations. Please go ahead. Good afternoon, and thank you for joining us. With me on the call today are Jason Trevisan, Chief Executive Officer, and Sam Zales, President and Chief Operating Officer. We will be making forward-looking statements which are based on our current expectations and beliefs. Those statements are subject to risks and uncertainties and our actual results may differ materially. Information concerning those risks and uncertainties is discussed in our SEC filing. We undertake no obligation to update forward-looking statements except as required by law. Please refer to our press release and our investor presentation on the investor relations section of our website for a reconciliation of GAAP to non-GAAP measures. I'll now turn the call over to Jason. Good afternoon and thank you for joining us. We delivered strong financial results in the first quarter with 15% year-over-year revenue growth to $244 million and adjusted EBITDA up 17% year-over-year with a margin of 33% as our product investments helped drive sustained growth while maintaining healthy profitability. This performance was driven by premium tier adoption greater usage of our AI-powered products, lead growth, and net dealer additions. That strength was especially evident internationally in our UK and Canada markets, where revenue grew 39% year over year, reinforcing our ROI advantage, driving share gains in both markets. At the foundation of our product innovation and increasing customer engagement is the data layer of our marketplace. We ingest roughly half a billion fir...