CarGurus, Inc. (CARG) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

we will be making forward-looking statements which are based on our current expectations and beliefs. These statements are subject to risks and uncertainties which could cause our actual results to differ materially from those reflected in such statements. Information concerning those risks and uncertainties is discussed in our SEC filings, which can be found on the SEC's website and in the Investor Relations section of our website. We undertake no obligation to update or revise forward-looking statements except as required by law. Further, during the course of our call today, we will refer to certain non-GAAP financial measures. A reconciliation of GAAP to comparable non-GAAP measures is included in our press release issued today, as well as in our updated investor presentation, which can be found on the investor relations section of our website. We believe that these non-GAAP financial measures and other business metrics provide useful information 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, Kerndape, and thanks to everyone joining us today. In the third quarter, we delivered double-digit, year-over-year marketplace revenue growth while also expanding profitability across our U.S. and international businesses. Marketplace revenue and marketplace EBITDA both finished above the midpoint of our guidance range. reflecting focused investment to drive sustainable top-line growth and disciplined execution of our strategic priorities. Marketplace revenue grew approximately 14% year-over-year, or $28 million, and Ma...