CarGurus (0C6) Q2 2026 Earnings Report
CH:0C6 Q2 2026 EPS Results
- Actual EPS
- CHF 0.54
- Consensus EPS
- CHF 0.51
- Beat/Miss
- Beat by +CHF 0.04
- One Year Ago EPS
- CHF 0.47
CH:0C6 Q2 2026 Revenue Results
- Actual Revenue
- CHF 206.76M
- Expected Revenue
- CHF 205.84M
- Beat/Miss
- Beat by +CHF 921.05K
- YoY Revenue Growth
- +7.24%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 08/06/2026
- Time
- After Close
- Conference Call
- Thursday, August 6, 2026
CH:0C6 Upcoming Earnings
CarGurus's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:0C6 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive, supported by double-digit revenue growth, strong cash-flow conversion, international momentum, expanding dealer engagement, successful early AI and product results, raised profitability expectations, and reaffirmed full-year revenue guidance. The main challenges were cautious dealer spending, ongoing dealer economic pressure, higher operating expenses, and year-over-year declines in gross and adjusted EBITDA margins.
Company Guidance
For the third quarter, CarGurus expects revenue to be in the range of $253.5 million to $258.5 million, up between 9% to 12% year over year, respectively; non GAAP adjusted EBITDA to be in the range of $82 million to $90 million; non GAAP earnings per share to be in the range of $0.63 to $0.69; and diluted weighted average common shares outstanding to be approximately 90 million. For the full year, it is reiterating that 2026 revenue will grow in the range of 10% to 13% year over year and now expects full year non GAAP adjusted EBITDA margins to compress approximately 50 to 150-basis-points in 2020 relative to 2025.
- Strong Second-Quarter Revenue and EBITDA PerformanceSecond-quarter revenue grew 13% year over year to $251 million, above the midpoint of guidance. Adjusted EBITDA increased 7% year over year to $85 million, at the high end of guidance, with a 34% adjusted EBITDA margin.
- Robust Free Cash Flow GenerationThe company generated $88 million of free cash flow in the quarter, converting 103% of adjusted EBITDA.
- International Business GrowthInternational revenue grew 28% year over year, driven by strength in listings and Sell My Car in Canada and OEM advertising in the UK.
- Growing Dealer EngagementAverage sessions per dealer increased 28% year over year in the second quarter, driven by increasing AI functionality and expanded capabilities across more of the dealer workflow.
- Expansion of the U.S. Dealer Base and Wallet ShareU.S. CARSID grew 8% year over year, and the company added 673 paying U.S. dealers year over year. Add-on product adoption was the largest driver of year-over-year CARSID growth, followed by listing upgrades, like-for-like price increases, and higher lead quantity and quality.
- Price Advantage Adoption and Dealer Performance GainsPrice Advantage bookings grew more than 50% sequentially, with higher AOS. Dealers adopting Price Advantage saw a 15% lift in VDPs and a 9% lift in leads per listing after adoption.
- VINMAX Early ResultsSince early-access rollout began in February, VINMAX promoted listings sold 23% faster and received 34% more leads per day than comparable nonpromoted listings.
- Strong Dealer Engagement with Data ProductsThe weekly competitive digest email achieved a greater than 80% open rate. The company also introduced shopper-signal competition filters and deeper competitive insights to help dealers assess urgency, allocate sales resources, and make pricing and inventory decisions.
- Higher Engagement Among Top Platform UsersAmong subscribing independent dealers, those in the top quintile of platform engagement generated 78% more leads per unit than those in the bottom quintile.
- Launch and Adoption of Guru AI ExperiencesThe company launched Guru in July as its consumer-facing brand for AI capabilities. Guru-driven leads increased 60% sequentially in the U.S., while the conversational AI experience was also launched in the UK and Canada.
- Improved Consumer Guidance and Lead QualityGuru provides richer signals about user preferences and intent, supporting better search results and deeper, higher-quality leads for dealers. The company said dealers engaging with shopper signals are converting those leads much better.
- Sell My Car and Dealership Mode ProgressSell My Car gained traction after consumer-experience enhancements increased funnel conversion and drove significant incremental leads. Consumer engagement with Dealership Mode in the app more than doubled in the second quarter.
- AI-Enabled Productivity and Faster InnovationAI and internally built agents were deployed across workflows to increase product velocity and productivity. The company cited efficiency improvements in product and engineering, software usage, go-to-market activities, and customer support, while maintaining its accelerated pace of product introductions.
- Improved Profitability OutlookThe company raised its full-year profitability outlook, citing greater-than-anticipated leverage from AI-enabled productivity gains, operating discipline, and organizational efficiencies.
- Strong Earnings and Gross Profit GrowthSecond-quarter non-GAAP gross profit grew 12% year over year to $231 million. Non-GAAP diluted earnings per share increased 16% year over year to $0.66.
- Solid Cash Position and Capital ReturnsThe company ended the quarter with $122 million in cash and cash equivalents, an increase of $50 million from the end of the first quarter. It repurchased $29 million of shares in the second quarter and said it had repurchased approximately $925 million, representing more than 30% of shares outstanding, since 2022.
- Continued Investment in Growth InitiativesThe company increased investment in product, technology, and development to accelerate AI expansion and product innovation, and increased sales and marketing investment to support new dealer products and consumer awareness of Guru and other AI experiences.
- Disciplined M&A and Capital Allocation StrategyManagement plans to retain flexibility for disciplined M&A, particularly smaller dealer-focused technology and software point solutions that could accelerate expansion across inventory, marketing, lead conversion, and competitive-data pillars. The company also remains committed to share repurchases.
- Reaffirmed Revenue GuidanceFull-year 2026 revenue growth guidance was reiterated at 10% to 13% year over year. Third-quarter revenue guidance is $253.5 million to $258.5 million, representing year-over-year growth of 9% to 12%.
- Broad Dealer Market Appeal and Data AdvantageManagement said traction was broad across franchise and independent dealers, as well as large and small dealers. CarGurus reported that its proprietary marketplace data layer, which captures nearly 500 million signals per day, supports products across inventory, marketing, lead conversion, and competitive data.
CH:0C6 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Nov 05, 2026 | 2026 (Q3) | 0.55- | 0.47 | ― | ― |
| Aug 06, 2026 | 2026 (Q2) | 0.510.54 | 0.47 | 15.79% (+0.07) | |
| May 07, 2026 | 2026 (Q1) | 0.470.48 | 0.38 | 26.09% (+0.10) | |
| Feb 19, 2026 | 2025 (Q4) | 0.520.52 | 0.45 | 14.55% (+0.07) | |
| Nov 06, 2025 | 2025 (Q3) | 0.450.47 | 0.37 | 26.67% (+0.10) | |
| Aug 07, 2025 | 2025 (Q2) | 0.450.47 | 0.34 | 39.02% (+0.13) | |
| May 08, 2025 | 2025 (Q1) | 0.360.38 | 0.26 | 43.75% (+0.12) | |
| Feb 20, 2025 | 2024 (Q4) | 0.430.45 | 0.29 | 57.14% (+0.16) | |
| Nov 07, 2024 | 2024 (Q3) | 0.350.37 | 0.28 | 32.35% (+0.09) | |
| Aug 08, 2024 | 2024 (Q2) | 0.280.34 | 0.24 | 41.38% (+0.10) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed