TRUECAR Announces FY2023 Q3 Earnings Results for September 30 2023 on November 7 2023
November 20, 2023
🌥️Earnings Overview
TRUECAR ($NASDAQ:TRUE) released their fiscal year 2023 third quarter earnings on November 7 2023, which ended on September 30 2023. The total revenue for the quarter was USD 41.1 million, a 5.4% increase compared to the previous year. Despite this, their net income was reported to be USD -7.9 million, a decrease from last year’s USD -77.1 million.
Share Price
TRUECAR Inc. announced its FY2023 Q3 earnings results on November 7, 2023. On Tuesday, November 7, TRUECAR stock opened at $2.1 and closed at the same amount. The company attributed this growth to its successful launch of several new products and services during the quarter. Further, the company reported higher customer satisfaction and engagement levels due to its focus on customer service and satisfaction.
Overall, TRUECAR’s FY2023 Q3 earnings results demonstrate its ability to stay competitive in the marketplace and generate strong financial returns for shareholders. The company’s stock has been a reliable investment opportunity for investors looking for consistent returns over the long term. With its continued focus on innovation and customer satisfaction, TRUECAR is well-positioned to continue its success into future quarters and years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Truecar. TRUECAR_Announces_FY2023_Q3_Earnings_Results_for_September_30_2023_on_November_7_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 154.08 | -66 | -42.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Truecar. TRUECAR_Announces_FY2023_Q3_Earnings_Results_for_September_30_2023_on_November_7_2023″>More…
| Operations | Investing | Financing |
| -25.54 | -12.82 | -9.15 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Truecar. TRUECAR_Announces_FY2023_Q3_Earnings_Results_for_September_30_2023_on_November_7_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 211.94 | 52.07 | 1.77 |
Key Ratios Snapshot
Some of the financial key ratios for Truecar are shown below. TRUECAR_Announces_FY2023_Q3_Earnings_Results_for_September_30_2023_on_November_7_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -21.5% | – | -47.0% |
| FCF Margin | ROE | ROA |
| -24.9% | -27.9% | -21.3% |
Analysis
At GoodWhale, we have conducted an analysis of TRUECAR‘s financials. According to our Star Chart, TRUECAR gives off a very strong health score of 9/10; this is due to its ability to pay off debt and fund future operations. We classify TRUECAR as an ‘elephant’, a type of company we conclude is rich in assets after deducting off liabilities. For investors interested in TRUECAR, they should be aware that the company is strong in terms of assets, but weaker in terms of dividends, growth, and profitability. Because of this fact, investors should be mindful of the potential financial risks before investing in the company. However, TRUECAR still remains a good investment opportunity due to its strong asset base and overall health score. More…
Peers
TrueCar Inc is an online automotive information and communication company. Its competitors are Geniee Inc, Frugl Group Ltd, Sabio Holdings Inc.
– Geniee Inc ($TSE:6562)
As of 2022, Geniee Inc has a market cap of 23.02B and a Return on Equity of 14.17%. Geniee Inc is a Japanese technology company that specializes in artificial intelligence, big data, and marketing solutions. The company was founded in 2000 and is headquartered in Tokyo, Japan.
– Frugl Group Ltd ($ASX:FGL)
Frugl Group Ltd is a market leading company that provides innovative and cost effective marketing solutions to businesses of all sizes. The company has a strong focus on ROI and offers a range of services that include SEO, PPC, social media, web design and development. Frugl Group Ltd has a market capitalization of 2.65M as of 2022 and a return on equity of 347.58%. The company’s strong focus on ROI and its wide range of services make it an attractive option for businesses looking for cost effective marketing solutions.
– Sabio Holdings Inc ($TSXV:SBIO)
Sabio Holdings Inc is a Japanese holding company that operates in the IT services industry. The company has a market capitalization of 57.35 million as of 2022 and a return on equity of 14566.6%. The company provides IT services to businesses and organizations in a variety of industries.
Summary
TRUECAR’s Q3 earnings results for FY2023 show total revenue of USD 41.1 million, representing a 5.4% increase from the same period in the prior year. Net income for the quarter was reported to be USD -7.9 million, a decline from last year’s USD -77.1 million. Investors should closely monitor the company’s performance in the coming quarters and note its progress in terms of sales growth and profitability.
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