Want to see CARG full AI Analyst Report?
Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently CarGurus operates and where it’s prioritizing investment.CarGurus’ expense mix shows purposeful reinvestment: Sales & Marketing, after dipping in 2023, has ramped again in 2025, signaling a dealer‑acquisition push that aligns with the reported strong dealer adds and international acceleration. R&D has stayed elevated quarter-to-quarter, matching management’s AI/product rollout strategy. G&A shows prior discrete spikes (CarOffer wind‑down) but is otherwise stable. Expect near-term EBITDA margin compression as these investments scale, but they underpin the company’s mid‑teens revenue targets and longer‑term monetization upside.
Date | Sales and Marketing | Research and Development | General and Administrative | Depreciation and Amortization |
|---|---|---|---|---|
Jun 30, 2026 | $97.64M | $38.14M | $28.21M | $3.69M |
Mar 31, 2026 | $97.48M | $37.67M | $26.48M | $3.71M |
Dec 31, 2025 | $87.58M | $35.39M | $25.82M | $4.67M |
Sep 30, 2025 | $89.37M | $36.32M | $28.46M | $4.71M |
Jun 30, 2025 | $84.34M | $34.37M | $27.06M | $4.14M |
Mar 31, 2025 | $86.72M | $36.25M | $26.78M | $4.21M |
Dec 31, 2024 | $76.45M | $35.95M | $28.38M | $4.93M |
Sep 30, 2024 | $81.22M | $36.36M | $28.19M | $2.33M |
Jun 30, 2024 | $82.31M | $36.58M | $27.43M | $2.23M |
Mar 31, 2024 | $82.27M | $35.55M | $28.07M | $2.79M |