CarGurus Reports Q3 2026 Revenue Growth and Announces $250 Million Share Repurchase Program
CarGurus (CARG) reported a strong third quarter for 2026, with revenue increasing 12% year-over-year to $258 million. The company's growth is increasingly driven by its expansion into non-listings software products, including inventory management and pricing tools. Notably, the adoption of these high-margin products among U.S. paying dealers grew by 16% compared to the previous year. The company is leveraging artificial intelligence through tools like VINMAX to help dealerships maintain vehicle pricing and improve sales velocity. Supported by a robust non-GAAP gross margin of 92%, CarGurus has authorized a new $250 million share repurchase program, effective from November 4, 2026, through the end of 2027, signaling confidence in its free cash flow generation and long-term value creation.
Tickers: $CARG
Topics: automotive technology quarterly earnings revenue growth share repurchase program
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