Q1 26 EPS
$0.58
BEAT +1.81%
Est. $0.57
Q1 26 Revenue
$243.6M
BEAT +0.18%
Est. $243.1M
vs S&P Since Q1 26
-11.6%
TRAILING MARKET
CARG -9.2% vs S&P +2.3%
Market Reaction
Did CARG Beat Earnings? Q1 2026 Results
CarGurus delivered a solid first-quarter beat to open fiscal 2026, with non-GAAP diluted EPS of $0.58 edging past the $0.57 consensus by 1.81% and revenue of $243.56 million topping estimates by 0.18% on 8.2% year-over-year growth. The standout drive… Read more CarGurus delivered a solid first-quarter beat to open fiscal 2026, with non-GAAP diluted EPS of $0.58 edging past the $0.57 consensus by 1.81% and revenue of $243.56 million topping estimates by 0.18% on 8.2% year-over-year growth. The standout driver beneath the headline numbers was dealer network expansion, with total paying dealers rising 7% to 34,596 and consolidated quarterly average revenue per subscribing dealer climbing 8% to $6,647, a combination that powered non-GAAP adjusted EBITDA to $80.23 million, exceeding the high end of guidance and up 17% year-over-year at a 33% margin. GAAP results were more nuanced, as $19.71 million in impairment charges compressed operating income to $40.08 million from $50.65 million a year ago. CarGurus' growing competitive position in the auto marketplace is also reflected in aggressive capital returns, with $175 million in buybacks during the quarter alone. Looking ahead, management guided Q2 revenue of $247 million to $252 million and full-year growth of 10% to 13%, while flagging potential tariff and currency headwinds as exclusions from its outlook.
Key Takeaways
- • 15% YoY revenue growth driven by dealer subscription growth and QARSD expansion
- • U.S. paying dealers grew 4% YoY to 26,116; international paying dealers grew 17% YoY to 8,480
- • Consolidated QARSD increased 8% YoY to $6,647
- • U.S. QARSD grew 9% to $7,996; international QARSD grew 19% to $2,468
- • Non-GAAP Adjusted EBITDA margin expanded to 33% from 32% YoY
CARG Forward Guidance & Outlook
For Q2 2026, CarGurus guides total revenue of $247.0 million to $252.0 million, non-GAAP adjusted EBITDA from continuing operations of $77.5 million to $85.5 million, and non-GAAP EPS from continuing operations of $0.57 to $0.64 (assuming 91.0 million diluted weighted-average shares outstanding). For full-year 2026, management expects revenue growth of 10% to 13% YoY and non-GAAP adjusted EBITDA margin contraction of 1.5% to 2.5% YoY. Guidance excludes macro-level disruptions from tariffs, foreign currency effects, and material changes in recent dealer/consumer market trends.
CARG YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CARG Revenue by Segment
With YoY comparisons, source: SEC Filings
CARG Revenue by Geography
With YoY comparisons, source: SEC Filings
“We are pleased with our first quarter results, as we sustained our momentum with revenue growing 15% year-over-year as we continued to invest in AI-led product innovation across dealer pillars and the consumer journey.”
— Jason Trevisan, Q1 2026 Earnings Press Release
CARG Earnings Trends
CARG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CARG EPS Trend
Earnings per share: estimate vs actual
CARG Revenue Trend
Quarterly revenue: estimate vs actual
CARG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.57 | $0.58 | +1.81% | $243.6M | +0.18% |
| Q4 25 MISS FY | $0.63 | $0.63 | -0.44% | $241.1M | +0.85% |
| FY Full Year | $2.16 | $2.28 | +5.62% | $907.0M | -3.20% |
| Q3 25 BEAT | $0.55 | $0.57 | +3.75% | $238.7M | +1.62% |
| Q2 25 BEAT | $0.55 | $0.57 | +4.40% | $234.0M | +0.77% |
| Q1 25 BEAT | $0.44 | $0.46 | +5.50% | $225.2M | -0.63% |