TrueCar, Inc. reported its financial results for the second quarter of 2025, revealing a revenue increase of 12.4% to $47.0 million compared to $41.8 million in the same period last year. For the first half of 2025, revenues reached $91.8 million, up from $82.8 million in the prior year. Despite this growth, the company recorded a net loss of $7.6 million for the quarter, an improvement from a loss of $13.5 million in Q2 2024. The six-month net loss also decreased to $17.8 million from $19.4 million year-over-year.
The increase in revenue was primarily driven by a $5.0 million rise in dealer revenue, attributed to a higher number of dealers subscribing to TrueCar's vehicle sourcing products, including the "Sell Your Car" and "Trade" solutions. Additionally, OEM incentives revenue grew by $0.6 million. However, the company faced challenges with independent dealer revenue, which decreased by $0.7 million. TrueCar's total costs and operating expenses for the quarter were $55.6 million, slightly down from $57.0 million in the previous year, reflecting a reduction in general and administrative expenses.
Operationally, TrueCar's average monthly unique visitors fell by 29.4% to approximately 5.5 million in Q2 2025, down from 7.7 million in Q2 2024. The company attributed this decline to a strategic shift towards more efficient sales channels and targeted customer acquisition efforts. The number of units sold remained stable, with 88,991 units in Q2 2025 compared to 88,904 in the same period last year. The franchise dealer count increased slightly to 8,292, while the independent dealer count decreased to 2,885, reflecting ongoing industry consolidation.
Looking ahead, TrueCar anticipates continued revenue growth but acknowledges potential challenges due to macroeconomic factors, including inflation and high interest rates, which may impact consumer demand and dealer inventory levels. The company remains focused on expanding its product offerings, particularly the TrueCar+ service, and enhancing its technology infrastructure to improve customer experience. TrueCar's management believes that existing liquidity, totaling $92.5 million in cash and cash equivalents, will be sufficient to support operations for at least the next 12 months, although future capital requirements may necessitate additional funding.
About TrueCar, Inc.
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