Stock Monitor: SharpSpring Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 28, 2018 / Active-Investors.com has just released a free earnings report on TrueCar, Inc. (NASDAQ: TRUE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TRUE. The Company reported its fourth quarter fiscal 2017 operating and financial results on February 15, 2018. The provider of localized information on new car costs outperformed top- and bottom-line expectations, and also provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for SharpSpring, Inc. (NASDAQ: SHSP), which also belongs to the Technology sector as the Company TrueCar. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, TrueCar most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended December 31, 2017, TrueCar's revenues advanced 12% to $83.1 million from $74.1 million in Q4 2016. The Company's revenue numbers beat analysts' estimates of $81.2 million.
During Q4 2017, TrueCar's gross profit was $75.8 million, up 11% on a y-o-y basis, while its gross margin was 91.2% in the reported quarter compared to 91.9% in the prior year's same quarter.
For Q4 2017, TrueCar's technology and product expenses totaled $13.4 million, or 16.1% of revenues, versus $11.9 million, or 16.1% of revenues, in Q4 2016. In the reported quarter, the Company's cost per sale declined 15% to $145 per unit from $171 per unit in Q4 2016.
TrueCar's sales and marketing (S&M) expenses were $44.8 million, or 53.9% of revenues, in Q4 2017 versus $39.9 million, or 53.9% of revenues, in the prior year's comparable quarter. Within S&M expenses, the Company spent $15.1 million on television, radio, and digital to drive TrueCar's channel customer acquisition, versus $16.2 million in Q4 2016.
For Q4 2017, TrueCar reported a GAAP net loss of $8.5 million, or $0.08 loss per share, compared to a GAAP net loss of $8 million, or $0.09 loss per share, in Q4 2016. The Company's GAAP net loss included a $2.6 million non-recurring tax benefit related to the Tax Cuts and Jobs Act 2017 (TCJA) enacted in December 2017.
TrueCar reported a non-GAAP net income of $4.9 million, or $0.05 per share, in Q4 2017 compared to a non-GAAP net loss of $0.5 million, or $0.01 loss per share, in Q4 2016. The Company's earnings numbers smashed past Wall Street's estimates of $0.01 per share.
For the full year FY17, TrueCar's revenues advanced 16% to $323.1 million from $277.5 million in FY16.
For FY17, TrueCar reported a net loss of $32.8 million, or $0.35 loss per share, compared to a net loss of $41.7 million, or $0.49 loss per share, in FY16. The Company's non-GAAP net income was $7.2 million, or $0.07 per diluted share, in FY17 compared to a non-GAAP net loss of $11.1 million, or $0.13 loss per diluted share, in FY16.
Key Operating Metrics
During Q4 2017, TrueCar's revenues from franchise dealers totaled $64.2 million, up 12% on a y-o-y basis. The Company's franchise dealer count was 12,142 as of December 31, 2017, reflecting a 9% increase from 11,151 as of December 31, 2016. The Company's monthly revenues from franchise dealers were $1,751 in the reported quarter, flat on a y-o-y basis.
TrueCar's revenues from independent dealers were $8.5 million in Q4 2017, up 23% on a y-o-y basis. The Company's independent dealer count was 2,979 as of December 31, 2017, a 15% increase from 2,597 as of December 31, 2016, while monthly revenues per independent dealer grew 6% to $954 on a y-o-y basis.
During Q4 2017, TrueCar's Other partner contributed 76,620 units, up 38% on a y-o-y basis, driven by a strong growth at Chase, Sam's Club, and US News. United Service Automobile Association (USAA) produced 58,975 units in the reported quarter, down 14% compared to the year ago same period. The Company's partner revenue share and other expenses were $12.9 million in the reported quarter versus $9.4 million in Q4 2016, with increased cost driven by the large increase in units from TrueCar's another partner channel.
During Q4 2017, TrueCar's average monthly unique visitors grew 3% to 7.3 million, up from approximately 7.0 million in Q4 2016. The Company's Units were 239,521 in the reported quarter, up from 218,807 in the prior year's comparable quarter.
TrueCar's monetization was $328 in Q4 2017 compared to $320 in Q4 2016. From its branded channel, the Company generated 103,926 units in the reported quarter, up 10% on a y-o-y basis.
For the first quarter ending March 31, 2018, TrueCar is forecasting Units to be in the range of 230,000 units to 235,000 units, and revenues to be in the band of $80 million to $82 million.
For the full fiscal year ending December 31, 2018, TrueCar is projecting Units to be in the range of 1.03 million units to 1.05 million units, and revenues to be in the band of $360 million to $365 million.
Stock Performance Snapshot
March 27, 2018 - At Tuesday's closing bell, TrueCar's stock fell 2.59%, ending the trading session at $9.02.
Volume traded for the day: 1.98 million shares, which was above the 3-month average volume of 1.93 million shares.
After yesterday's close, TrueCar's market cap was at $953.77 million.
The stock is part of the Technology sector, categorized under the Internet Service Providers industry.
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