CarGurus, Inc. (NASDAQ:CARG) Q3 2019 Earnings Conference Call - Final Transcript

Nov 05, 2019 • 05:00 pm ET

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CarGurus, Inc. (NASDAQ:CARG) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to the CarGurus Inc. Third Quarter 2019 Earnings Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. Rodney Nelson, Head of Investor Relations. Thank you. You may begin.

Executive
Rodney Nelson

Thank you, operator. Good afternoon, and welcome to CarGurus' third quarter 2019 earnings call. We'll be discussing the results announced in our press release issued today after the market close and posted on our Investor Relations website. With me on the call today is Langley Steinert, CarGurus' Founder and Chief Executive Officer; Jason Trevisan, Chief Financial Officer; and Sam Zales, President and Chief Operating Officer.

During the call, we'll make statements related to our business that may be considered forward-looking, including statements concerning our financial guidance for the fourth quarter and full-year 2019, management's expectations for our future financial and operational performance; our business and growth strategy and our plans to execute on our growth strategy, including our ability to expand our global audience and add new paying dealers; our brand awareness and traffic acquisition efforts, including investments in growing our audience and brand building across our US and international businesses as well as our ability to reduce customer acquisition costs over time; our ability to achieve our 2019 strategic initiatives; the timing for lease of new products; our investments in and ability to drive adoption of new and existing products and features and their benefits; our expectations for our consumer finance offering and peer-to-peer marketplace, including our ability to expand through additional lenders and maximize market opportunities; our expectations for our new digital marketing and social media products and the ability of these solutions to assist our dealers' digital marketing efforts; the value proposition of our products, including the ability of new products to drive AARSD growth; the growth levers we expect to drive our business; our ability to maintain existing and acquire new customers; our expansion into international markets and our international growth strategy; our ability to successfully integrate and improve the PistonHeads website; our expected expenses; our ability to successfully grow our product and engineering organization; and other statements regarding our plans, prospects and expectations.

Forward-looking statements may include words and phrases such as we expect, we believe, we intend, we anticipate, we plan, may, likely, upcoming and similar terms. These statements reflect our views only as of today and should not be considered our views as of any subsequent date. We undertake no obligation to update or revise these forward-looking statements except as required by law.

Forward-looking statements are not promises or guarantees of future performance and are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from our expectations. For a discussion of material risks and other important factors that could affect our actual results, please refer to those contained under the heading