CARG at a glance
CarGurus, Inc. (CARG, SEC CIK 1494259) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 3, 2026 and Form 4 insider filings as recently as October 6, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), CarGurus, Inc. (CARG) reported revenue of $907.0 million (up 1.4% from FY2024) and net income of $155.9 million. Diluted EPS was $1.55.
- As of June 30, 2026, 37 institutional investment managers tracked by SignalX reported holding CarGurus, Inc. (CARG) shares worth $1.2 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Quinn Matthew Todd on October 2, 2026 of 3,824 shares at $29.62 per share.
- In the last 90 days, CARG insiders reported 0 open-market purchases ($0) and 11 open-market sales ($3.0M) on Form 4, a net sale of $3.0M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $907.0M
- +1.4% vs prior year
- Insiders · 90 days
- 0 buys · 11 sells
- Net −$3.0M
- 13F holders
- 37 funds
- $1.2B · +1 vs prior quarter
- Latest 8-K
- Sep 3, 2026
- Item 7.01 · Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Multinational automotive platform connecting car shoppers and dealers via a data-driven marketplace with dealer software solutions
- Strategic shift: Wind-down of CarOffer digital wholesale segment completed in 2025; consolidation to single reportable segment focusing on AI-powered inventory intelligence and smarter sourcing
- New product emphasis: Launch of CG Discover, a GenAI-powered shopping assistant enhancing consumer search and vehicle selection process
- Quantitative highlight: Completion of CarOffer abandonment by Dec 31, 2025; reporting now unified under one segment starting Q4 2025
- Noteworthy fact: Introduction of Digital Deal and Dealership Mode features to increase transparency and lead conversion in online-to-offline car purchases
Risk Factors
- Regulatory risk from discretionary credits in advertising contracts requiring monthly revenue deferral reviews impacting recognition policies
- Macroeconomic exposure to higher interest rates, inflation, and labor disruptions affecting vehicle sales volume and consumer spending
- Operational risk from judgment in capitalizing website development and software costs leading to material impacts on amortization expense
- Competitive threat from continued investment in software and data products to counter evolving dealer marketing behaviors and consumer engagement shifts
- Financial risk due to significant repurchases of Class A common stock totaling $351.9 million under 2025 Share Repurchase Program
Management Discussion & Analysis
- Revenue $907.0M, up 14% YoY from $798.0M in 2024
- Net income from continuing operations $196.7M vs $128.7M, Adjusted EBITDA $319.0M vs $255.6M in 2024
- Single reportable segment post-CarOffer wind-down, wind-down cost $13.3M, completed Dec 31, 2025
- Paying dealers 34,409 (up from 32,010); Quarterly average revenue per dealer $6,616 vs $6,144 in 2024
- OBBBA tax act materially reduced 2025 and expected 2026 cash taxes; management focusing on AI and analytics for smarter sourcing
AI summary of the CARG 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- No material risk-factor changes identified; filing directs readers to the 10-K’s risk factors
- Liquidity risk from share repurchases, with $45.756 million remaining under the 2026 program
- Market risk from executive equity sales, including up to 1,493,200 shares under Langley Steinert’s plan
- Compliance risk from Rule 10b5-1 trading arrangements adopted by four officers during the quarter
AI summary of the CARG 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- CarGurus appointed Mr. Mandel as Chief Financial Officer
- CFO appointment signals a leadership transition in finance
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Matthew Mandel appointed CFO, principal financial officer and accounting officer effective October 19, 2026
- CEO Jason Trevisan relinquishes interim finance responsibilities while remaining CEO
Item EX-99.1: Item EX-99.1
- Matthew Mandel appointed CFO effective October 19, 2026
- CEO Jason Trevisan relinquishes interim CFO and principal accounting officer responsibilities held since March 2025
Item 1.01: Entry into a Material Definitive Agreement
- Revolving commitments reduced from $400.0M to $200.0M, lowering available liquidity but potentially reducing financing capacity
- Facility maturity extended from September 26, 2027 to August 6, 2031, removing near-term refinancing pressure
Item 2.02: Results of Operations and Financial Condition
- CarGurus announced financial results for quarter ended June 30, 2026
- Full financial results and management commentary available in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 revenue $251.0M, up 13% YoY; adjusted EBITDA $84.7M, up 7%, with margin declining to 34% from 36%
- GAAP continuing-operations net income $49.2M, flat YoY; six-month income down 11% amid $20.2M impairments
Item 5.07: Submission of Matters to a Vote of Security Holders
- Stockholders elected Manik Gupta and Langley Steinert as Class III directors through 2029
- Gupta received 177,165,895 votes for versus 30,312,145 withheld, signaling notable shareholder opposition
AI summaries of CARG 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for CARG
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Sarnoff Dafna | A | Oct 2, 2026 | 5,911 | - |
| Quinn Matthew Todd | Sell | Oct 2, 2026 | 3,824 | $29.62 |
| Quinn Matthew Todd | A | Oct 2, 2026 | 5,911 | - |
| Elshareef Ismail | Sell | Oct 2, 2026 | 2,673 | $29.62 |
| Sarnoff Dafna | Sell | Oct 2, 2026 | 7,234 | $29.62 |
| Sarnoff Dafna | F | Oct 1, 2026 | 7,550 | $29.73 |
| Steinert Langley | F | Oct 1, 2026 | 12,653 | $29.73 |
| Elshareef Ismail | F | Oct 1, 2026 | 3,131 | $29.73 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $894.4M | $907.0M |
| Gross Profit | - | $738.9M | $841.5M |
| Operating Income | - | $13.4M | $244.4M |
| Net Income | - | $21.0M | $155.9M |
| Gross Margin | - | 82.6% | 92.8% |
| Op. Margin | - | 1.5% | 27.0% |
| Net Margin | - | 2.3% | 17.2% |
| Balance Sheet | |||
| Total Assets | $918.9M | $824.5M | $661.9M |
| Equity | $616.9M | $541.7M | $374.2M |
| ROE | - | 3.9% | 41.7% |
| Per Share | |||
| EPS | - | $0.20 | $1.55 |
| Cash Flow | |||
| Operating CF | - | $255.5M | $295.3M |
| CapEx | - | $75.2M | $6.4M |
Source: XBRL data in CarGurus, Inc. (CARG)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate CARG share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 37 | $1.25B |
| Q1 2026 | 36 | $1.19B |
| Q4 2025 | 31 | $1.34B |
| Q3 2025 | 30 | $1.33B |
| Q2 2025 | 29 | $1.22B |
| Q1 2025 | 26 | $689.8M |
| Q4 2024 | 23 | $728.5M |
| Q3 2024 | 20 | $279.9M |
- Millennium Management+546.7K (+742%)
- FMR LLC (Fidelity)+540.9K (+1558%)
- Renaissance Technologies LLC+330.1K (+96%)
- Citadel Advisors LLC+328.4K (+334%)
- T. Rowe Price Group+303.2K (+78%)
- Ameriprise Financial−308.7K (-27%)
- JPMorgan Chase & Co−256.6K (-42%)
- BlackRock−209.2K (-2%)
- Vanguard Capital Management LLC−194.9K (-6%)
- AQR Capital Management−116.6K (-79%)
- D.E. Shaw & Co+18.0K
Source: 13F-HR filings on SEC EDGAR (aggregated from 232 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
CARG filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 6, 2026 | - | - | - |
| 4 | Oct 6, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Sep 17, 2026 | - | - | - |
| 8-K | Sep 3, 2026 | - | Analysis | - |
| 4 | Aug 31, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| 4 | Aug 11, 2026 | - | - | - |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
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CARG SEC filings: frequently asked questions
Are CARG insiders buying or selling?
In the last 90 days, CarGurus, Inc. (CARG) officers, directors and 10% owners reported no open-market purchases and 11 open-market sales worth $3.0 million by 7 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold CARG stock?
As of June 30, 2026, the largest CarGurus, Inc. (CARG) holders among the 13F filers tracked by SignalX were BlackRock ($402.4 million), Vanguard Portfolio Management LLC ($160.7 million), Vanguard Capital Management LLC ($112.6 million), State Street Corp ($103.0 million), Dimensional Fund Advisors ($62.1 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was CARG's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), CarGurus, Inc. (CARG) reported revenue of $907.0 million (up 1.4% from FY2024) and net income of $155.9 million. Diluted EPS was $1.55. The figures come from the XBRL data in the 10-K.
What are the main risks in CARG's latest 10-K?
In the 10-K filed February 19, 2026, CarGurus, Inc. (CARG) flagged: Regulatory risk from discretionary credits in advertising contracts requiring monthly revenue deferral reviews impacting recognition policies. Macroeconomic exposure to higher interest rates, inflation, and labor disruptions affecting vehicle sales volume and consumer spending. (AI summary of the Risk Factors section.)
What did CARG report in its latest 8-K?
CarGurus, Inc. (CARG) filed an 8-K on September 3, 2026 reporting Item 7.01 (Regulation FD Disclosure) and Item 5.02 (Departure/Appointment of Directors or Principal Officers). CarGurus appointed Mr. Mandel as Chief Financial Officer.
What are the latest CARG SEC filings?
CarGurus, Inc. (CARG) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 3, 2026 and a Form 4 insider filing on October 6, 2026.
What is CARG's SEC CIK number?
CarGurus, Inc. (CARG)'s SEC Central Index Key (CIK) is 1494259. EDGAR lists every CARG filing under that number.
Ask anything about CARG
The research agent reads CARG's filings, financials, insider trades and 13F holders, then answers with sources.