Cars.com Inc. (CARS) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the CARS First Quarter 2026 Earnings Conference Call. At this time, all lines are in your listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star 0 for the operator. This call is being recorded on Thursday, May 7, 2026. I would now like to turn the conference over to Catherine Chen, Vice President of Investor Relations. Please go ahead. Good morning, everyone, and thank you for joining us for the Cars.com Inc. First Quarter 2026 Conference Call. With me this morning are Toby Hartman, CEO, and Sonia Jain, CFO. Toby will start by discussing business highlights from our first quarter. Then Sonia will discuss our financial results in greater detail along with our outlook. We'll finish the call with Q&A. Before I turn the call over to Toby, I'd like to draw your attention to our forward-looking statements and the description and definition of non-GAAP financial measures, which can be found in our presentation. We will be discussing certain non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA margin, adjusted operating expenses, adjusted net income, and free cash flow. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures can be found in the financial tables included with our earnings press release and in the appendix of our presentation. Any forward-looking statements are subject to risks and uncertainties. For more information, please refer to the risk factors included in our SEC filings, including those in our most recently filed 10-K, which is available on the IR section of our website. We assume no obligation to update any forward-looking stateme...