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CarGurus (0C6) Q3 2026 Earnings Report

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DE:0C6 Q3 2026 EPS Results

Actual EPS
EUR 0.63
Consensus EPS
EUR 0.59
Beat/Miss
Beat by +EUR 0.03
One Year Ago EPS
EUR 0.51

DE:0C6 Q3 2026 Revenue Results

Actual Revenue
EUR 231.33M
Expected Revenue
EUR 229.62M
Beat/Miss
Beat by +EUR 1.70M
YoY Revenue Growth
+8.24%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/05/2026
Time
After Close
Conference Call
Thursday, November 5, 2026
DE:0C6 Upcoming Earnings

CarGurus's next earnings date is estimated for February 25, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

DE:0C6 Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 05, 2026|% Change Since:-3.73%|
Earnings Call Sentiment|Positive

The call was broadly positive: the company delivered revenue, EBITDA, EPS, dealer-addition, product-adoption, engagement, and free-cash-flow growth; launched multiple products; and announced a new $250 million repurchase authorization. These strengths outweighed the stated challenges, including dealer margin pressure, stretched consumer affordability, international market weakness, lower margins, higher operating expenses, and softer demand related to macroeconomic and FTC-related factors.

Company Guidance

For the fourth quarter, we expect revenue to be in the range of $258.5 million to $263.5 million, up between 7.2% and 9.3% year over year; non GAAP adjusted EBITDA to be in the range of $93 million to $101 million; non GAAP earnings per share to be in the range of $0.73 to $0.79; and diluted weighted average common shares outstanding to be approximately 90 million. For full year 2026, we now expect revenue in the range of $1.01 thousand million to $1.02 thousand million, representing growth of 11.5% to 12.1% year-over-year; non GAAP adjusted EBITDA to be in the range of $347.5 million to $355.5 million, a margin change of -80 basis points to -20 basis points year over year; non GAAP earnings per share to be in the range of $2.66 to $2.72; and diluted weighted average common shares outstanding to be approximately 92 million.

  • Strong Third-Quarter Revenue and EBITDA ResultsThird-quarter revenue grew 12% year over year to $258 million, at the high end of guidance. Adjusted EBITDA grew 9% year over year to $89.7 million, also near the high end of guidance, with an adjusted EBITDA margin of roughly 35%.
  • Robust Free Cash Flow and Cash BalanceThe company generated $74 million of free cash flow in the quarter, converting 82% of EBITDA to free cash flow. Cash and cash equivalents ended the quarter at $165 million, up $43 million from the end of the second quarter.
  • Earnings per Share GrowthThird-quarter non-GAAP net income per diluted share was $0.70, up 17% year over year.
  • Dealer Base and Wallet-Share ExpansionU.S. CARS grew 7% year over year, and the company added 659 paying U.S. dealers year over year. Net U.S. dealer additions increased by 251 sequentially, the strongest quarter of net additions this year.
  • Growth in Multi-Product Dealer AdoptionU.S. paying dealers subscribing to at least one product outside the core listings tiers grew approximately 16% year over year. The company attributed year-over-year CARS growth primarily to add-on product adoption, followed by listing upgrades.
  • International Revenue GrowthInternational third-quarter revenue increased 22% year over year, driven by account expansion through listing upgrades, add-on product adoption, and like-for-like price increases.
  • PriceVantage Dealer PerformanceDealers using PriceVantage saw a median 14% lift in VDP views. Engaged franchise dealers saw 1.5x the lead lift of dealers that had not acted on a recommendation, while dealers reduced overall discounting by nearly 10% per unit and maintained turn times.
  • StockVantage Launch Expands Inventory WorkflowThe company launched StockVantage, an AI-powered product that combines CarGurus retail demand signals with dealer-specific inventory fit, profit potential, expected turn time, wholesale values, and vehicle history to help dealers identify auction and consumer trade-in vehicles with the highest potential.
  • VINMAX Adoption and Listing PerformanceVINMAX was described as one of the fastest-adopting add-on products the company has launched. VINMAX-boosted listings were 85% more likely to sell without a price reduction than comparable non-boosted listings, received roughly 57% more leads per day, and received roughly 67% more VDP views per day.
  • Strong Shopper Signals AdoptionNearly 70% of eligible dealers used Shopper Signals during a recent 30-day period. Hot shoppers showed up to 4x the average close rate, according to the company.
  • Dealer Engagement Platform MomentumEngagement with the dealer engagement platform increased nearly 30% over the last 90 days, while related email engagement achieved an open rate of greater than 70%.
  • Consumer Marketplace LeadershipCarGurus said it outpaced competitors in visitors and sessions, continued to lead in AI referral traffic and AI visibility across tracked categories, and remained the No. 1 most visited automotive marketplace in the United States.
  • Large Proprietary Data AssetsThe company captures approximately 500 million first-party signals daily across demand, pricing intelligence, live inventory, and first-party consumer intent and behavior. It also described a dataset of more than 10 billion shopper intent signals per month.
  • Growth in Guru UsageGuru usage reached new highs in the third quarter, with unique usage up 24% sequentially. The company also said a growing share of shoppers are returning to continue prior conversations and that Guru users have been more engaged and converted better.
  • Dealership Mode Usage RecordDealership Mode reached an all-time high in usage during the third quarter, increasing 105% from the second quarter. The company has connected verified online activity to lot visits for a growing number of dealers.
  • AI and New Distribution ChannelsCarGurus launched its Cloud Connector during the quarter and has an app inside ChatGPT, putting CarGurus inventory, deal ratings, and dealer connections inside interfaces consumers already use. The company said it ranked highest in visibility and destination traffic from large language model platforms.
  • Product Innovation VelocitySince 2025, CarGurus has brought six new products to market across its dealer pillars. Management said the company launched new products faster than at any time in its history, with a pace of one to two significant product introductions per quarter.
  • Capital Return AuthorizationThe board authorized a new $250 million share repurchase program effective November 4, 2026 through December 31, 2027. The company repurchased $21 million of shares during the quarter and had $25 million remaining under its 2026 authorization.
  • Fourth-Quarter and Full-Year Revenue OutlookFourth-quarter revenue guidance is $258.5 million to $263.5 million, representing year-over-year growth of 7.2% to 9.3%. Full-year 2026 revenue guidance is $1.01 billion to $1.02 billion, representing growth of 11.5% to 12.1% year over year.
  • Fourth-Quarter and Full-Year Profit OutlookFourth-quarter adjusted EBITDA guidance is $93 million to $101 million, with non-GAAP EPS guidance of $0.73 to $0.79. Full-year adjusted EBITDA guidance is $347.5 million to $355.5 million, full-year non-GAAP EPS guidance is $2.66 to $2.72, and diluted weighted average shares are expected to be approximately 92 million.
  • Continued Investment in Dealer and Consumer ProductsManagement said it plans to continue investing across dealer software, data products, dealer education, AI applications, and the consumer journey while maintaining discipline around margins and free cash flow.

DE:0C6 Earnings History

DE:0C6 earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 25, 20272026 (Q4)0.67-0.56――
Nov 05, 20262026 (Q3)0.590.630.5122.81% (+0.12)
Aug 06, 20262026 (Q2)0.550.590.5115.79% (+0.08)
May 07, 20262026 (Q1)0.510.520.4126.09% (+0.11)
Feb 19, 20262025 (Q4)0.570.560.4914.55% (+0.07)
Nov 06, 20252025 (Q3)0.490.510.426.67% (+0.11)
Aug 07, 20252025 (Q2)0.490.510.3739.02% (+0.14)
May 08, 20252025 (Q1)0.390.410.2943.75% (+0.13)
Feb 20, 20252024 (Q4)0.460.490.3157.14% (+0.18)
Nov 07, 20242024 (Q3)0.380.400.332.35% (+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