TrueCar (TRUE) Tops Q4 EPS by 3c, Revenues Beat; Offers Q1 Revenue Guidance Above Consensus, FY20 Revenue Views Below Consensus

TrueCar (NASDAQ: TRUE) reported Q4 EPS of ($0.01), $0.03 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $89.7 million versus the consensus estimate of $88.05 million.

Fourth Quarter 2019 Financial Highlights

• Fourth quarter total revenue of $89.7 million, down (2)% from $91.1 million in the fourth quarter of 2018.
• Fourth quarter net loss of $(8.8) million, or $(0.08) per basic and diluted share, compared to net loss of $(6.4) million, or $(0.06) per basic and diluted share, in the fourth quarter of 2018.
• Fourth quarter Non-GAAP net loss(1) of $(1.3) million, or $(0.01) per basic and diluted share, compared to Non-GAAP net income of $3.3 million, or $0.03 per basic and diluted share, in the fourth quarter of 2018.
• Fourth quarter Adjusted EBITDA(2) of $4.3 million, representing an Adjusted EBITDA margin(3) of 4.8%, compared to Adjusted EBITDA of $8.7 million, representing an Adjusted EBITDA margin of 9.6%, in the fourth quarter of 2018.

GUIDANCE:

TrueCar sees Q1 2020 revenue of $87-89 million, versus the consensus of $86.92 million.

TrueCar sees FY2020 revenue of $335-355 million, versus the consensus of $367.46 million.

• Our guidance for the first quarter ending March 31, 2020 is as follows:
  • Revenues are expected to be in the range of $87 million to $89 million.
  • Adjusted EBITDA is expected to be in the range of $3 million to $4 million.(9)
• Our guidance for the full year ending December 31, 2020 is as follows:
  • Revenues are expected to be in the range of $335 million to $355 million.
  • Adjusted EBITDA is expected to be in the range of $15 million to $20 million.(9)

For earnings history and earnings-related data on TrueCar (TRUE) click here.

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