Exhibit 99.1
truecarlogoa14.jpg

For Immediate Release
                                                
TrueCar Reports First Quarter 2019 Financial Results

First quarter total revenue up 6% from a year ago to $85.6 million.
First quarter net loss of $(14.4) million, or $(0.14) per share, compared to net loss of $(9.1) million, or $(0.09) per share, in the first quarter of 2018.
First quarter Non-GAAP net loss(1) of $(0.4) million, or $0.00 per share, compared to Non-GAAP net income of $0.8 million, or $0.01 per share, in the first quarter of 2018.
First quarter Adjusted EBITDA(2) of $5.1 million, representing an Adjusted EBITDA margin(3) of 5.9%, compared to Adjusted EBITDA of $6.0 million, representing an Adjusted EBITDA margin of 7.4%, in the first quarter of 2018.
Units(4) were 232,781 in the first quarter of 2019, up 1% from 229,717 in the first quarter of 2018.
Franchise dealer count(5) was 12,675 as of March 31, 2019, compared to 12,674 as of December 31, 2018.
Independent dealer count(6) was 3,854 as of March 31, 2019, compared to 3,655 as of December 31, 2018.

SANTA MONICA, Calif., May 9, 2019 – TrueCar, Inc. (NASDAQ: TRUE) today announced its financial results for the first quarter ended March 31, 2019.


Management Commentary

“Despite our revised outlook for the remainder of the year, we remain enthusiastic about the tremendous amount of innovation going on across the Company," said Chip Perry, TrueCar's President and Chief Executive Officer. “We continue to make significant progress on product improvements, empowered by the completion of Capsela, that are designed to enhance the consumer experience, increase engagement, and fuel future revenue growth,” Mr. Perry continued.




 
(1)
Non-GAAP net (loss) income is a Non-GAAP financial measure.  Refer to its definition and accompanying reconciliation to GAAP net (loss) income below.
(2)
Adjusted EBITDA is a Non-GAAP financial measure.  Refer to its definition and accompanying reconciliation to GAAP net (loss) income below.
(3)
Adjusted EBITDA margin is a Non-GAAP financial measure, calculated as Adjusted EBITDA divided by total revenue.
(4)
We define units as the number of automobiles purchased from TrueCar Certified Dealers that are matched to users of TrueCar.com and our mobile applications or the car buying sites and mobile applications we maintain for our affinity group marketing partners.
(5)
We define franchise dealer count as the number of franchise dealers in the network of TrueCar Certified Dealers at the end of a given period. This number is calculated by counting the number of brands of new cars sold at each individual location, or rooftop, regardless of the size of the dealership that owns the rooftop. Note that this number excludes Genesis franchises on our program due to Hyundai’s transition of Genesis to a standalone brand. In order to facilitate period over period comparisons, we have continued to count each Hyundai franchise that also has a Genesis franchise as one franchise dealer rather than two.
(6)
We define independent dealer count as the number of dealers in the network of TrueCar Certified Dealers at the end of a given period that exclusively sell used vehicles and are not directly affiliated with a new car manufacturer. This number is calculated by counting the number of individual locations, or rooftops, regardless of the size of the dealership that owns the rooftop.

1

The following information was filed by Truecar, Inc. (TRUE) on Thursday, May 9, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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