TrueCar, the online auto marketplace, recently reported a financial loss of $24.1 million during the recent second quarter. This is a steeper loss when compared to Q2 of 2018 when the company saw a $6.6 million loss. The losses are attributed to new revenue sources not meeting expectations.
The company also cut its full-year guidance for the second time in two quarters. TrueCar's second-quarter revenue and adjusted earnings before interest, tax, depreciation, and amortization both fell short of the guidance it had given in May.
|Metric||Q2 2019||Change vs. Q2 2018|
|Vehicles purchased (units)||249,856||(0.2%)|
|Adjusted EBITDA||$3.7 million||(57.4%)|
|Net income (loss)||($24.1 million)||$17.5 million worse|
|Adjusted net income (loss)||($2.2 million)||$5.4 million worse|
|Net income (loss) per share||($0.23)||$0.16 worse|
|Adjusted net income (loss) per share||($0.02)||$0.05 worse|
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