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Revenue by Segment
Breaks down revenue into different business segments, revealing which areas are driving growth and contributing most to the company’s financial performance.CarGurus’ revenue mix has shifted decisively from the lumpy Product/Wholesale spikes of 2021–22 to steadily growing, high-quality Marketplace revenue; that recurring marketplace engine now drives the company’s predictable top-line and funded the large buyback program. The lingering decline in Product/Wholesale reflects normalization of transactional volumes, while management is betting future upside on dealer add-ons and AI features—gaining early traction but still nascent—so near-term margin compression from planned reinvestment could delay meaningful monetization unless dealer adoption accelerates.
Date | Marketplace | Product | Wholesale | Marketplace Subscription | Advertising and Other |
|---|---|---|---|---|---|
Sep 30, 2025 | $231.65M | $4.79M | $2.25M | $0.00 | $0.00 |
Jun 30, 2025 | $222.00M | $5.76M | $6.28M | $0.00 | $0.00 |
Mar 31, 2025 | $212.20M | $5.20M | $7.70M | $0.00 | $0.00 |
Dec 31, 2024 | $210.20M | $8.50M | $9.90M | $0.00 | $0.00 |
Sep 30, 2024 | $204.00M | $15.20M | $12.10M | $0.00 | $0.00 |
Jun 30, 2024 | $195.17M | $10.41M | $13.12M | $0.00 | $0.00 |
Mar 31, 2024 | $187.20M | $12.50M | $16.10M | $0.00 | $0.00 |
Dec 31, 2023 | $182.30M | $18.80M | $22.00M | $0.00 | $0.00 |
Sep 30, 2023 | $177.91M | $19.77M | $21.73M | $0.00 | $0.00 |
Jun 30, 2023 | $170.95M | $36.84M | $31.95M | $0.00 | $0.00 |