CarGurus: 3 Key Takeaways for Long-Term Investors

CarGurus reported Q3 2026 revenue growth of 12% year-over-year to $258 million, driven by expanding adoption of non-listings software products among dealers. The company launched AI tools like VINMAX to help dealers manage inventory and maintain pricing without steep discounts. With strong cash flow generation and a 92% non-GAAP gross margin, CarGurus authorized a new $250 million share repurchase program, demonstrating confidence in its business model despite macroeconomic headwinds affecting dealer spending.