Cars.com Inc. (CARS) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much. First, by adding current marketplace capabilities. This includes personalization, AI features like Carson and interconnected data insights between our products. For consumers, that means a more seamless and customized shopping experience when moving across cars.com and dealer-inspired websites. We will provide seekers with more options and choices for an interconnected marketplace experience. For dealers, aggregated consumer signals yield return leads and a distinct advantage to closing sales. These enhancements plus further technical and product investments slated for 2027 are expected to position our website's business for renewed growth. In summary, we have made solid progress to deliver our goals and objectives. Our 2026 financial performance have consistently met or exceeded guidance. Marketplace results are especially encouraging and reflect strong execution of our new strategy. Operating leverage is also improving via cost efficiencies, tighter internal processes, and a leaner yet more productive organization. And product green shoots are showing the untapped potential of an interconnected marketplace platform. I want to acknowledge the discipline, hard work, and focus of our team whose execution and collaboration has been instrumental to these initial successes. We are confident that these efforts will compound to drive long-term sustainable growth and shareholder value. Now Sonia will discuss our financial results and outlook. Sonia? Thank you, Toby. Second quarter financial performance highlighted strong execution of our marketplace-first strategy and improved operating leverage across our business. Revenue of $179.9 million was up 1% year over year and within our guidance range. Dealer revenue growth was up 3% year over year and was sl...