The following is a summary of the TrueCar, Inc. (TRUE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• TrueCar reported a Q3 total revenue of $46.5 million, a 13.1% increase year-over-year, and an 11.4% increase from the previous quarter.

• The company reduced its net loss to $5.8 million from $7.9 million in the year-ago quarter.

• Achieved an adjusted EBITDA of $0.2 million.

Business Progress:

• TrueCar launched a suite of digital marketing solutions and became the first digital marketplace allowing complete online purchase of vehicles.

• They have initiated the monetization of proprietary data, enhancing personalization in the consumer buying journey.

• TCMS contributed $1 million of dealer revenue indicating traction in marketing products.

• The launch of TC+ marked a milestone, enabling transactions completely online without offline interaction, enhancing dealer's reach beyond local areas.

Opportunities:

• The company's innovative TC+ service and suite of marketing products present significant growth avenues, potentially influencing a larger role in automotive retail.

• Expansion of digital marketing services and data monetization strategies offer new revenue streams.

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