Cars.com Reports Third Quarter 2025 Results
Achieved Record Total Revenue of $182 Million and Dealer Revenue Growth of 2% Year-over-Year
Accelerating Marketplace Adoption Grew Customer Base +271 Year-over-Year to 19,526 Dealer Customers
Marketplace Supported Record Year-to-Date Traffic and the Launch of Carson TM AI-Powered Search Features
Repurchased $64 Million of Stock Year-to-Date, On Track with $70 to $90 Million Target for FY25
CHICAGO, Nov. 6, 2025 /PRNewswire/ -- Cars.com Inc . (NYSE: CARS) (d/b/a "Cars Commerce Inc." or the "Company"), an audience-driven technology company empowering the automotive industry, today released its financial results for the third quarter ended September 30, 2025.
"We delivered record revenue in the third quarter as focused execution of our strategy drove a resurgence in Dealer revenue. Underpinning these strong results was another quarter of triple-digit growth in customer count and notable gains in the Cars.com marketplace and AccuTrade. In particular, dealers are responding positively as we lead the industry on AI integration through features like Carson, our new AI shopping assistant, which is already powering millions of web searches and yielding a 2x improvement in visitor engagement," said Alex Vetter, Chief Executive Officer of Cars Commerce. "Looking ahead, we are confident in our ability to build upon these successes as we position our platform for sustainable growth and value creation."
Q3 2025 Financial Highlights
(in thousands, except per share data)
Quarter Ended September 30,
2025
2024
Change %
Total Revenue
$ 181,573
$ 179,651
1 %
Net income
7,658
18,719
(59 %)
Adjusted net income
30,381
27,704
10 %
Adjusted EBITDA
54,631
51,131
7 %
Net income per diluted share
0.12
0.28
(56 %)
Adjusted net income per diluted share
0.48
0.41
18 %
Q3 2025 Key Metrics and Operational Highlights
(in millions, except dealer data)
Quarter Ended
September 30,
2025
June 30,
2025
September 30,
2024
Change %
Q/Q
Change %
Y/Y
Average Monthly Unique Visitors
25.5
26.6
24.5
(4 %)
4 %
Traffic ("Visits")
156.2
162.0
154.2
(4 %)
1 %
Monthly Average Revenue Per Dealer ("ARPD")
$ 2,460
$ 2,435
$ 2,478
1 %
(1 %)
Dealer Customers
19,526
19,412
19,255
1 %
1 %
1 Compared to Base Marketplace packages. Cars.com data, September 2025.
Q3 2025 Results
Revenue for the third quarter totaled $181.6 million, up 1% compared to the prior year period and reaching a new quarterly record. Subscription-based Dealer revenue was up 2% year-over-year, benefitting from increased adoption of websites and appraisal products as well as Marketplace customer growth and repackaging. OEM and National revenue was down 5% year-over-year, primarily reflecting lower media spending by certain OEM partners.
Total operating expenses for the third quarter were $164.8 million, compared to $168.2 million for the prior year period. Operating expenses declined as compared to the prior year period, as costs associated with the January 2025 acquisition of DealerClub and third party fees were fully offset by efficiencies in headcount and lease-related expenses. Adjusted operating expenses for the quarter were $150.4 million, down 4% compared to the prior year period, reflecting substantially similar dynamics.
Net income for the third quarter was $7.7 million, or $0.12 per diluted share, compared to Net income of $18.7 million, or $0.28 per diluted share, in the third quarter of 2024. The change in Net income is primarily attributable to changes in the fair value of contingent consideration in the prior-year period associated with prior acquisitions. Adjusted net income for the quarter was $30.4 million, or $0.48 per diluted share, compared to $27.7 million, or $0.41 per diluted share a year ago. Adjusted EBITDA for the third quarter was $54.6 million, or 30.1% of revenue, compared to $51.1 million, or 28.5% of revenue in the year-ago period. Adjusted EBITDA strengthened on the basis of improved revenue and the aforementioned cost reduction initiatives.
Cash Flow and Balance Sheet
Net cash provided by operating activities for the nine-month period ended September 30, 2025 was $114.5 million, compared to $122.5 million in the prior year, which is largely attributable to the increase in earnout payments associated with the D2C Media acquisition. Resulting free cash flow for the nine-month period ended September 30, 2025 totaled $94.5 million, compared to $103.7 million in the prior year.
The Company's total debt outstanding was $455.0 million as of September 30, 2025. The Company's total net leverage (as defined in the Company's credit facility) was 1.9x as of September 30, 2025, below its target total net leverage range of 2.0x to 2.5x. Total liquidity as of September 30, 2025 was $350.1 million, which is defined as Cash and cash equivalents of $55.1 million and revolver capacity of $295.0 million.
Share Repurchases
The Company repurchased 1.5 million shares of common stock for $19.3 million in the third quarter, bringing total repurchases to 5.2 million shares for $63.9 million in the first nine months of 2025. The Company also reaffirms its target for $70 to $90 million of share repurchases in fiscal 2025, which was previously revised upward in August 2025.
"Third quarter performance demonstrated progress across our major financial and operating metrics, delivering revenue growth as well as strong operating leverage that produced our highest quarter of Adjusted EBITDA margin for this year. Robust cash flow generation also enabled additional share repurchases, consistent with our annual targeted share buyback commitment," said Sonia Jain, Chief Financial Officer of Cars Commerce. "Through disciplined investments in product innovation as well as prudent capital allocation, we expect to continue to drive platform differentiation and return value to shareholders."
Outlook
The Company continues to anticipate low-single digit revenue growth for the second half of 2025, based on third quarter performance, current market conditions, and ongoing execution of 2025 growth initiatives. As previously communicated, the favorability, magnitude, and timing of customer spending on media and advertising products are also subject to factors like vehicle production and inventory levels, which have been volatile year-to-date.
The Company is reaffirming Full Year Adjusted EBITDA margin guidance of 29% to 31%. Adjusted EBITDA margin guidance reflects the Company's confidence in managing operating levers across a range of macroeconomic scenarios.
Q3 2025 Earnings Call
As previously announced, management will hold a conference call and webcast today at 8:00 a.m. CT. This webcast may be accessed at the Cars Commerce Investor Relations website, investor.cars.com. An archive of the webcast will be available at investor.cars.com following the conclusion of the call.
About Cars Commerce
Cars Commerce is an audience-driven technology company empowering the automotive industry. The Company simplifies everything about car buying and selling with powerful products, solutions and AI-driven technologies that span pretail, retail and post-sale activities – enabling more efficient and profitable retail operations. The Cars Commerce platform is organized around industry-leading brands: the flagship automotive marketplace and review site Cars.com, digital retail technology and marketing services from Dealer Inspire, essential trade-in and appraisal technology from AccuTrade, a reputation-based dealer-to-dealer wholesale auction from DealerClub and exclusive in-market media solutions from the Cars Commerce Media Network. Learn more at www.carscommerce.inc.
Non-GAAP Financial Measures
This earnings release discusses Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net (loss) income, Free Cash Flow and Adjusted Operating Expenses. These financial measures are not prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). These financial measures are presented as supplemental measures of operating performance because the Company believes they provide meaningful information regarding the Company's performance and provide a basis to compare operating results between periods. In addition, the Company uses Adjusted EBITDA as a measure for determining incentive compensation targets. Adjusted EBITDA also is used as a performance measure under the Company's credit agreement and includes adjustments such as the items defined below and other further adjustments, which are defined in the credit agreement. These non-GAAP financial measures are frequently used by the Company's lenders, securities analysts, investors and other interested parties to evaluate companies in the Company's industry.
While a reconciliation of non-GAAP measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to, as applicable, the timing, amount, valuation and number of future employee equity awards and the uncertainty relating to the timing, frequency, and effect of acquisitions and the significance of the resulting transaction-related expenses, the Company has provided a reconciliation of non-GAAP financial measures to their most directly comparable financial measure prepared in accordance with GAAP in this earnings release, see "Non-GAAP Reconciliations" below.
Other companies may define or calculate these measures differently, limiting their usefulness as comparative measures. Because of these limitations, non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP. Definitions of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures are presented in the tables below.
The Company defines Adjusted EBITDA as net income (loss) before (1) interest expense, net, (2) income tax (benefit) expense, (3) depreciation, (4) amortization of intangible assets, (5) stock-based compensation expense, (6) unrealized mark-to-market adjustments and cash transactions related to derivative instruments, (7) unrealized foreign currency exchange gains and losses, and (8) certain other items, such as transaction-related items, severance, transformation and other exit costs and write-off and impairments of goodwill, intangible assets and other long-lived assets.
Transaction-related items result from actual or potential transactions such as business combinations, mergers, acquisitions, dispositions, spin-offs, financing transactions, and other strategic transactions, including, without limitation, (1) transaction-related bonuses and (2) expenses for advisors and representatives such as investment bankers, consultants, attorneys and accounting firms. Transaction-related items may also include, without limitation, transition and integration costs such as retention bonuses and acquisition-related milestone payments to acquired employees, consulting, compensation and other incremental costs associated with integration projects, fair value changes to contingent considerations and amortization of deferred revenue related to the AccuTrade acquisition.
The Company defines Adjusted Net Income as GAAP net (loss) income excluding, net of their related tax effects: (1) amortization of intangible assets, (2) stock-based compensation expense, (3) unrealized mark-to-market adjustments and cash transactions related to derivative instruments, (4) unrealized foreign currency exchange gains and losses, and (5) certain other items, such as transaction-related costs, severance, transformation and other exit costs and write-off and impairments of goodwill, intangible assets and other long-lived assets.
The Company defines Free Cash Flow as net cash provided by operating activities less capital expenditures, including purchases of property and equipment and capitalization of internally developed technology.
The Company defines Adjusted Operating Expenses as total operating expenses adjusted to exclude stock-based compensation, write-off and impairments of goodwill, intangible assets, long-lived assets, severance, transformation and other exit costs and transaction-related items.
Key Metric Definitions
Average Monthly Unique Visitors ("UVs") and Traffic ("Visits"). The Company defines UVs in a given month as the number of distinct visitors that engage with its platform during that month. Visitors are identified upon first visit to an individual Cars.com property on an individual device/browser combination or installation of one of our mobile apps on an individual device. If a visitor accesses more than one of our web properties or apps or uses more than one device or browser, each of those unique property/browser/app/device combinations counts toward the number of UVs. Traffic is defined as the number of visits to Cars.com desktop and mobile properties (responsive sites and mobile apps). The Company measured UVs and Traffic via RudderStack. These metrics do not include traffic to Dealer Inspire, D2C Media, or DealerClub websites.
Monthly Average Revenue Per Dealer ("ARPD"). The Company believes that its ability to grow ARPD is an indicator of the value proposition of its platform. The Company defines ARPD as Dealer revenue, excluding digital advertising services and DealerClub, during the period divided by the monthly average number of Dealer Customers during the same period.
Dealer Customers. Dealer Customers represent dealerships using the Company's products as of the end of each reporting period. Each physical or virtual dealership location is counted separately, whether it is a single-location proprietorship or part of a large, consolidated dealer group. Multi-franchise dealerships at a single location are counted as one dealer. Dealer Customer metrics do not include DealerClub.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical facts are forward-looking statements. These statements often use words such as "believe," "expect," "project," "anticipate," "outlook," "intend," "strategy," "plan," "estimate," "target," "seek," "will," "may," "would," "should," "could," "forecasts," "mission," "strive," "more," "goal" or similar expressions. Forward-looking statements are based on our current expectations, beliefs, strategies, estimates, projections and assumptions, experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments, and other factors we think are appropriate. Such forward-looking statements are based on estimates and assumptions that, while considered reasonable by Cars Commerce and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. While Cars Commerce and its management make such statements in good faith and believe such judgments are reasonable, you should understand that these statements are not guarantees of future strategic action, performance or results. Our actual results, performance, achievements, strategic actions or prospects could differ materially from those expressed or implied by these forward-looking statements. Given these uncertainties, you should not rely on forward-looking statements in making investment decisions. When we make comparisons of results between current and prior periods, we do not intend to express any future trends, or indications of future performance, unless expressed as such, and you should view such comparisons as historical data. Whether or not any such forward-looking statement is in fact achieved will depend on future events, some of which are beyond our control.
Forward-looking statements are subject to a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results and strategic actions to differ materially from those expressed in the forward-looking statements contained in this press release. For a detailed discussion of many of these and other risks and uncertainties, see "Part I, Item 1A., Risk Factors" and "Part II, Item 7., Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission ("SEC") on February 27, 2025 and our other filings filed with the SEC and available on our website at investor.cars.com or via EDGAR at www.sec.gov.
You should evaluate all forward-looking statements made in this press release in the context of these risks and uncertainties. The forward-looking statements contained in this press release are based only on information currently available to us and speak only as of the date of this press release. We undertake no obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise. The forward-looking statements in this report are intended to be subject to the safe harbor protection provided by the federal securities laws.
Cars Commerce Investor Relations Contact:
Katherine Chen
kchen@carscommerce.inc
408.768.6847
Cars Commerce Media Contact:
Marita Thomas
mthomas@carscommerce.inc
312.601.5692
Cars.com Inc.
Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Revenue:
Dealer
$ 162,009
$ 159,513
$ 479,630
$ 481,171
OEM and National
16,180
17,014
49,096
48,149
Other
3,384
3,124
10,610
9,401
Total revenue
181,573
179,651
539,336
538,721
Operating expenses:
Cost of revenue and operations
30,063
31,610
91,549
92,602
Product and technology
27,580
29,223
84,692
84,891
Marketing and sales
59,336
58,288
177,318
177,664
General and administrative
24,325
21,511
71,890
67,348
Depreciation and amortization
23,464
27,563
75,376
82,499
Total operating expenses
164,768
168,195
500,825
505,004
Operating income
16,805
11,456
38,511
33,717
Nonoperating expenses:
Interest expense, net
(7,631)
(8,028)
(22,943)
(24,458)
Other income, net
1,528
21,111
3,869
32,498
Total nonoperating (expense) income, net
(6,103)
13,083
(19,074)
8,040
Income before income taxes
10,702
24,539
19,437
41,757
Income tax expense
3,044
5,820
6,783
10,873
Net income
$ 7,658
$ 18,719
$ 12,654
$ 30,884
Weighted-average common shares outstanding:
Basic
61,708
66,107
63,133
66,319
Diluted
63,070
67,666
63,844
67,590
Earnings per share:
Basic
$ 0.12
$ 0.28
$ 0.20
$ 0.47
Diluted
0.12
0.28
0.20
0.46
Cars.com Inc.
Consolidated Balance Sheets
(In thousands, except per share data)
September 30, 2025
December 31, 2024
(unaudited)
Assets:
Current assets:
Cash and cash equivalents
$ 55,072
$ 50,673
Accounts receivable, net
128,825
133,741
Prepaid expenses
15,483
13,782
Other current assets
12,972
16,134
Total current assets
212,352
214,330
Property and equipment, net
35,284
40,704
Goodwill
166,603
143,279
Intangible assets, net
537,174
585,690
Deferred tax assets
94,280
100,530
Investments and other assets, net
25,694
27,332
Total assets
$ 1,071,387
$ 1,111,865
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$ 33,040
$ 33,498
Accrued compensation
28,890
36,295
Other accrued liabilities
54,889
47,092
Total current liabilities
116,819
116,885
Noncurrent liabilities:
Long-term debt, net
451,206
455,288
Deferred tax liabilities
6,658
6,773
Other noncurrent liabilities
19,135
21,434
Total noncurrent liabilities
476,999
483,495
Total liabilities
593,818
600,380
Commitments and contingencies
Stockholders' equity:
Preferred Stock at par, $0.01 par value; 5,000 shares authorized; no shares
issued and outstanding as of September 30, 2025 and December 31, 2024,
respectively
—
—
Common Stock at par, $0.01 par value; 300,000 shares authorized; 60,360
and 64,391 shares issued and outstanding as of September 30, 2025 and
December 31, 2024, respectively
604
643
Additional paid-in capital
1,426,829
1,473,986
Accumulated deficit
(948,892)
(961,546)
Accumulated other comprehensive loss
(972)
(1,598)
Total stockholders' equity
477,569
511,485
Total liabilities and stockholders' equity
$ 1,071,387
$ 1,111,865
Cars.com Inc.
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Nine Months Ended
September 30,
2025
2024
Cash flows from operating activities:
Net income
$ 12,654
$ 30,884
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation
23,077
19,306
Amortization of intangible assets
52,299
63,193
Stock-based compensation
22,433
23,689
Deferred income taxes
6,269
12,469
Provision for doubtful accounts
1,501
2,634
Amortization of debt issuance costs
1,430
1,769
Unrealized (gain) loss on foreign currency denominated transactions
(1,440)
965
Changes in fair value of contingent consideration
—
(33,473)
Other, net
2,284
766
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable
4,057
(2,574)
Prepaid expenses and other assets
(8,050)
(12,705)
Accounts payable
(320)
9,947
Accrued compensation
(8,119)
(2,067)
Other liabilities
6,446
7,714
Net cash provided by operating activities
114,521
122,517
Cash flows from investing activities:
Payments for acquisitions, net of cash acquired
(24,769)
(218)
Capitalization of internally developed technology
(16,131)
(16,770)
Purchase of property and equipment
(3,901)
(2,046)
Proceeds from sale of equity investment
9,481
—
Net cash used in investing activities
(35,320)
(19,034)
Cash flows from financing activities:
Proceeds from Revolving Loan borrowings
10,000
—
Payments of Revolving Loan borrowings and long-term debt
(15,000)
(20,000)
Payments for stock-based compensation plans, net
(5,227)
(8,065)
Repurchases of common stock
(64,339)
(35,686)
Payments of contingent consideration
—
(27,435)
Payments of debt issuance costs and other fees
—
(1,869)
Net cash used in financing activities
(74,566)
(93,055)
Effect of exchange rate changes on Cash and cash equivalents
(236)
(53)
Net increase in Cash and cash equivalents
4,399
10,375
Cash and cash equivalents at beginning of period
50,673
39,198
Cash and cash equivalents at end of period
$ 55,072
$ 49,573
Supplemental cash flow information:
Cash paid for income taxes
$ 2,223
$ 5,506
Cash paid for interest
17,053
18,453
Cars.com Inc.
Non-GAAP Reconciliations
(In thousands, except per share data)
(Unaudited)
Reconciliation of Net income to Adjusted EBITDA
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Net income
$ 7,658
$ 18,719
$ 12,654
$ 30,884
Interest expense, net
7,631
8,028
22,943
24,458
Income tax expense
3,044
5,820
6,783
10,873
Depreciation and amortization
23,464
27,563
75,376
82,499
Stock-based compensation, including related payroll tax expense
7,701
8,444
23,162
25,207
Transaction-related and other one-time items
4,068
(16,971)
16,609
(20,655)
Non-operating foreign exchange loss (gain)
1,065
(472)
(1,277)
963
Adjusted EBITDA
$ 54,631
$ 51,131
$ 156,250
$ 154,229
Reconciliation of Net income to Adjusted Net income
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Net income
$ 7,658
$ 18,719
$ 12,654
$ 30,884
Stock-based compensation, including related payroll tax expense
7,701
8,444
23,162
25,207
Amortization of intangible assets
17,463
20,979
52,299
63,193
Transaction-related items
2,864
(17,941)
8,530
(24,466)
Non-operating foreign exchange loss (gain)
1,065
(472)
(1,277)
963
Other one-time items
1,204
970
8,079
3,811
Income tax impact of adjustments
(7,574)
(2,995)
(22,698)
(17,177)
Adjusted net income
$ 30,381
$ 27,704
$ 80,749
$ 82,415
Adjusted net income per share, diluted
$ 0.48
$ 0.41
$ 1.26
$ 1.22
Weighted-average common shares outstanding, diluted
63,070
67,666
63,844
67,590
Reconciliation of Net cash provided by operating activities to Free cash flow
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Net cash provided by operating activities
$ 58,838
$ 53,795
$ 114,521
$ 122,517
Capitalization of internally developed technology
(5,637)
(5,594)
(16,131)
(16,770)
Purchase of property and equipment
(559)
(947)
(3,901)
(2,046)
Free cash flow
$ 52,642
$ 47,254
$ 94,489
$ 103,701
Reconciliation of Operating expenses to Adjusted operating expenses for the Three Months Ended September 30, 2025:
As Reported
Adjustments (1)
Stock-Based
Compensation
As Adjusted
Cost of revenue and operations
$ 30,063
$ —
$ (222)
$ 29,841
Product and technology
27,580
—
(2,314)
25,266
Marketing and sales
59,336
(43)
(1,493)
57,800
General and administrative
24,325
(6,617)
(3,672)
14,036
Depreciation and amortization
23,464
—
—
23,464
Total operating expenses
$ 164,768
$ (6,660)
$ (7,701)
$ 150,407
Total nonoperating expense, net
$ (6,103)
$ (1,527)
$ —
$ (7,630)
(1) Includes transaction related items, unrealized gains and losses on foreign currency denominated transactions, severance, transformation and other exit costs, and write-off of long-lived assets and other.
Reconciliation of Operating expenses to Adjusted operating expenses for the Three Months Ended September 30, 2024:
As Reported
Adjustments (1)
Stock-Based
Compensation
As Adjusted
Cost of revenue and operations
$ 31,610
$ —
$ (215)
$ 31,395
Product and technology
29,223
—
(2,956)
26,267
Marketing and sales
58,288
(44)
(1,469)
56,775
General and administrative
21,511
(3,624)
(3,804)
14,083
Depreciation and amortization
27,563
—
—
27,563
Total operating expenses
$ 168,195
$ (3,668)
$ (8,444)
$ 156,083
Total nonoperating income (expense), net
$ 13,083
$ (21,111)
$ —
$ (8,028)
(1) Includes transaction related items, unrealized gains and losses on foreign currency denominated transactions, severance, transformation and other exit costs, and write-off of long-lived assets and other.
Reconciliation of Operating expenses to Adjusted operating expenses for the Nine Months Ended September 30, 2025:
As Reported
Adjustments (1)
Stock-Based
Compensation
As Adjusted
Cost of revenue and operations
$ 91,549
$ —
$ (625)
$ 90,924
Product and technology
84,692
—
(7,294)
77,398
Marketing and sales
177,318
(128)
(5,263)
171,927
General and administrative
71,890
(19,073)
(9,980)
42,837
Depreciation and amortization
75,376
—
—
75,376
Total operating expenses
$ 500,825
$ (19,201)
$ (23,162)
$ 458,462
Total nonoperating expense, net
$ (19,074)
$ (3,869)
$ —
$ (22,943)
(1) Includes transaction related items, unrealized gain/loss on foreign currency denominated transactions, severance, transformation and other exit costs, and write-off of long-lived assets and other.
Reconciliation of Operating expenses to Adjusted operating expenses for the Nine Months Ended September 30, 2024:
As Reported
Adjustments (1)
Stock-Based
Compensation
As Adjusted
Cost of revenue and operations
$ 92,602
$ —
$ (773)
$ 91,829
Product and technology
84,891
—
(8,746)
76,145
Marketing and sales
177,664
(132)
(4,362)
173,170
General and administrative
67,348
(12,675)
(11,326)
43,347
Depreciation and amortization
82,499
—
—
82,499
Total operating expenses
$ 505,004
$ (12,807)
$ (25,207)
$ 466,990
Total nonoperating income (expense), net
$ 8,040
$ (32,499)
$ —
$ (24,459)
(1) Includes transaction related items, unrealized gains and losses on foreign currency denominated transactions, severance, transformation and other exit costs, and write-off of long-lived assets and other.
SOURCE Cars.com Inc.