TrueCar Serves Targeted Manufacturer Incentives to Customers of Insurance Affinity Partners
Aug 21 14
TrueCar, Inc. announced that it has launched major enhancements to the auto buying programs for its insurance affinity partners, specifically the integration of exclusive incentives from automakers uniquely tailored to the needs of total-loss customers. Through the TrueCar platform, automakers now have the ability to deploy marketing resources in a fully accountable manner by offering targeted incentives to customers who suffered a total loss to a vehicle and are unexpectedly in-market for a replacement vehicle. GEICO is the first of TrueCar's 13 insurance affinity partners to adopt these enhancements, and through the remainder of 2014, TrueCar plans to roll out these platform enhancements to these additional insurance partners, who collectively underwrite over 50% of the automobile policies on the road now. With the new program enhancements, customers of TrueCar's affinity insurance partners are now able to receive offers and savings directly from participating automakers. In working with their launch partner GEICO and the Chrysler Group, which includes Chrysler, Jeep, Dodge, Ram, and FIAT vehicles, TrueCar has integrated its auto-buying platform with the GEICO claims system to enable eligible GEICO total loss customers to receive a $1,000 incentive on any Chrysler Group vehicle, which can also be combined with other discounts or incentives available at the time of purchase. In addition to exclusive incentives from automakers, TrueCar has also launched an interface that allows insurance affinity partners to integrate TrueCar's referral tool, called Fast Track, into their claims workflow system. Insurance affinity partners will also be able to take advantage of a new online application that helps total loss customers find their ideal replacement vehicles more quickly and get negotiation-free guaranteed savings off MSRP for new cars at either standard TrueCar Certified Dealers or dealer-owned resource centers that specialize in serving total loss customers.
TrueCar, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter Ending September 30, 2014 and Full Year Ending December 31, 2014
Aug 7 14
TrueCar, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $50,497,000 against $31,223,000 a year ago. Loss from operations was $14,856,000 against $3,191,000 a year ago. Loss before provision for income taxes was $14,967,000 against $3,666,000 a year ago. Net loss was $15,034,000 against $3,802,000 a year ago. Basic and diluted net loss per share was $0.22 against $0.07 a year ago. Adjusted EBITDA was $1,517,000 against $2,630,000 a year ago.
For the six months, the company reported revenues of $94,427,000 against $56,266,000 a year ago. Loss from operations was $24,374,000 against $10,876,000 a year ago. Loss before provision for income taxes was $24,638,000 against $12,552,000 a year ago. Net loss was $24,955,000 against $12,825,000 a year ago. Basic and diluted net loss per share was $0.39 against $0.22 a year ago. Adjusted EBITDA was $2,397,000 against adjusted LBITDA of $2,000 a year ago. Net cash used in operating activities was $6,430,000 against $6,123,000 a year ago. Purchase of property and equipment was $4,790,000 against $3,320,000 a year ago. Purchase of intangible assets was $350,000.
For the third quarter ending September 30, 2014, the company expects revenues to be in the range of $51.0 million to $54.0 million and adjusted EBITDA to be in the range of $2.0 million to $3.0 million.
For the full year ending December 31, 2014, the company expects revenues to be in the range of $197.0 million to $202.0 million and adjusted EBITDA to be in the range of $6.0 million to $8.0 million.
TrueCar, Inc. Presents at Oppenheimer 17th Annual Technology, Internet & Communications Conference, Aug-12-2014 03:45 PM
Aug 5 14
TrueCar, Inc. Presents at Oppenheimer 17th Annual Technology, Internet & Communications Conference, Aug-12-2014 03:45 PM. Venue: Four Seasons Hotel, 200 Boylston Street, Boston, MA 02116, United States. Speakers: Michael Guthrie, Chief Financial Officer.