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DUBAI, United Arab Emirates, March 27, 2026 (GLOBE NEWSWIRE) -- During Ramadan, and at a time when compassion and unity matter more than ever, Apparel Group brought together leading NGOs across the region for a collaboration dedicated to supporting children of determination. Mobilising its platform alongside trusted partners including Al Jalila Foundation in the UAE, Down Syndrome Charitable Association in Saudi Arabia, Qatar Charity, the Ministry of Social Development in Bahrain, and the Committee of Zakah of Muttrah in Oman, the initiative reflected a collective commitment to meaningful giving, strengthening communities and extending support to children and families across the region.

Apparel Group drove the initiative through its brand Steve Madden’s Ramadan campaign, “Bold Style. Bigger Impact.”, using retail as a platform to deliver meaningful social impact. Through the campaign, more than 5,000 pairs of adaptive shoes designed to support the comfort and mobility of children of determination were donated across the GCC, helping bring confidence, dignity, and greater mobility to children and their families.

Steve Madden’s Ramadan 2026 campaign, “Bold Style. Bigger Impact.”, reflected the brand’s continued focus on purpose-led initiatives. Through this campaign, the brand connected its collection to a wider social mission, supporting children of determination while reinforcing its commitment to inclusivity and meaningful community engagement.

Focusing on adaptive footwear designed for children, the initiative addressed a meaningful need while bringing attention to the importance of accessibility and inclusion. Each pair of shoes represented more than a donation. It represented a step toward greater confidence, participation, and opportunity for children and their families.

Neeraj Teckchandani, CEO of Apparel Group, said: "Ramadan is a time that reminds us of the importance of compassion, generosity, and standing together as a community. It is also a moment that calls on all of us to rise through acts of kindness and support for those who need it most. At Apparel Group, we believe our responsibility extends beyond business. Through strong partnerships and thoughtful initiatives like this, we hope to support children and families while reinforcing the values of inclusion, care, and unity that define this special time."

By bringing together NGOs, communities, and industry partners across the GCC, Apparel Group continued to demonstrate how collaboration translated the spirit of giving into meaningful action. Initiatives like this reflected the Group’s long-standing commitment to supporting communities and championing causes that uplift individuals and families.

Through its scale, partnerships, and brand platform, Apparel Group continues to support initiatives that promote inclusion, dignity, and opportunity, reinforcing the power of collective action in creating lasting social impact.

About Apparel Group:

Apparel Group is a multibillion dollar conglomerate since 1996 based in Dubai, UAE, with a growing network of 2,500+ stores and a diverse portfolio of 85+ international brands across 14 countries. The Group has established a strong presence in the GCC—Bahrain, Saudi Arabia, Kuwait, Qatar, and Oman—and continues to expand across key markets including India, Southeast Asia, South Africa, and Egypt. Offering an integrated omni-channel experience, Apparel Group represents global names such as Tommy Hilfiger, Skechers, ALDO, Charles & Keith, and Tim Hortons. Its sustained growth is driven by a multicultural workforce of 27,000+ and steered under the leadership of its founders, Sima Ganwani Ved and Nilesh Ved.

https://www.apparelgroup.com/en/

About Steve Madden

Steve Madden designs, sources and markets fashion-forward footwear, accessories and apparel for women, men and children. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, Blondo®, GREATS®, BB Dakota® and Mad Love®, Steve Madden licensees footwear and handbag categories for the Anne Klein® brand. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden’s wholesale distribution includes department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers and independent stores. Steve Madden also operates brick-and-mortar retail stores and e-commerce websites. Steve Madden also licenses certain of its brands to third parties for the marketing and sale of certain products, including outerwear, eyewear, sunglasses, hosiery, jewelry, watches, fragrance, luggage, bedding and bath products as well as other select product categories.

For local store information and the latest boots, booties, dress shoes, fashion sneakers, sandals, slippers and more, please visit www.stevemadden.me.

Media Contact:
[email protected]

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/feb646fe-2f77-460c-bfa8-5059c84d91cd

https://www.globenewswire.com/NewsRoom/AttachmentNg/74968162-37e5-40e7-a4ee-5d2208e72a12 

Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of... Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of... Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of... Apparel Group x Steve Madden Lead a GCC-Wide CSR Initiative with Leading NGOs to Support Children of...

Shares of Steven Madden, Ltd. (NASDAQ: SHOO - Get Free Report) have earned a consensus rating of "Hold" from the nine analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to

Key Takeaways SHOO's Q4 DTC revenues surged 79.9% y/y to $316.6 million, led by owned-channel consumer demand.E-commerce outpaced stores, with online brand searches up 10% y/y among younger shoppers.DTC revenues for 2026 are projected to grow 7.5%, excluding Kurt Geiger, backed by digital momentum. Steven Madden, Ltd.’s (SHOO - Free Report) strong digital momentum and improving full-price channel performance significantly boosted its direct-to-consumer (DTC) business, reinforcing the brand’s ability to drive profitable growth through owned channels. In fourth-quarter 2025, DTC revenues surged 79.9% year over year to $316.6 million. Even after excluding the contribution from the Kurt Geiger acquisition, DTC sales still increased 1.6%, reflecting steady organic momentum.

A key highlight was the return of comps growth in Steve Madden’s U.S. DTC business during the fourth quarter. Management noted that strong performance in full-price channels more than offset continued softness in outlet stores. This signals improving brand desirability and healthier consumer demand, especially in premium and full-price assortments.

The digital channel was particularly strong, with management emphasizing that e-commerce growth outpaced physical stores in the fourth quarter. Online brand searches for Steve Madden increased 10% year over year, showing rising brand heat among Gen Z and millennial consumers. The company’s investments in richer product storytelling and always-on marketing campaigns appear to be translating into stronger online traffic and conversion.

Store productivity also showed encouraging trends. While outlets remained weak, full-price stores posted a solid increase, and performance improved further heading into the first quarter of 2026. The company ended 2025 with 399 company-operated stores, alongside seven e-commerce websites and 133 international concessions, underscoring the scale of its DTC platform.

Looking ahead, management remains optimistic about continued DTC momentum. For 2026, excluding Kurt Geiger, DTC revenues are expected to grow 7.5% at the mid-point. This strength, supported by digital traction, better full-price sell-through and sustained marketing investment, positions DTC as a critical long-term growth engine for Steven Madden’s brand portfolio. We foresee DTC revenues to increase 21.3% year over year in 2026.

SHOO’s Price Performance, Valuation & EstimatesShares of the company have surged 80.2% in the past year against the industry’s 17.6% decline.

Image Source: Zacks Investment Research

From a valuation standpoint, Steven Madden is trading at a forward 12-month price-to-sales ratio of 0.95X, down from the industry average of 1.26X. It has a Value Score of B.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Steven Madden’s 2026 earnings implies a year-over-year growth of 22.9%, whereas the same for 2027 indicates an uptick of 16.8%. Estimates for 2026 and 2027 have been revised upward by 5 cents and 7 cents, respectively, in the past 30 days.

Image Source: Zacks Investment Research

SHOO’s Zacks Rank & Key PicksSteven Madden currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks are FIGS Inc. (FIGS - Free Report) , Tapestry, Inc. (TPR - Free Report) and Abercrombie & Fitch Co. (ANF - Free Report) .

FIGS is a direct-to-consumer healthcare apparel and lifestyle brand, and it currently sports a Zacks Rank of 1 (Strong Buy). The company delivered a trailing four-quarter earnings surprise of 187.5%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FIGS’ current financial-year sales and earnings indicates growth of 11.7% and 15.8%, respectively, from the year-ago reported numbers.

Tapestry, which was formerly known as Coach, Inc., is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. It presently carries a Zacks Rank #2 (Buy).

The Zacks Consensus Estimate for Tapestry’s current fiscal-year earnings and sales implies growth of 26.5% and 11.2%, respectively, from the year-ago actuals. TPR delivered a trailing four-quarter average earnings surprise of 12.8%.

Abercrombie & Fitch operates as a specialty retailer of premium, high-quality casual apparel for men, women and kids. It currently has a Zacks Rank of 2.

The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal year earnings and sales implies growth of 8.6% and 4.3%, respectively, from the year-ago actuals. ANF delivered a trailing four-quarter average earnings surprise of 8.4%.

It's been a mixed bag in the stock market lately -- several companies are delighting investors by beating analysts' expectations in the first three months of the year. But on the other hand, companies are making shareholders nervous by withdrawing guidance for the next quarter or the rest of the year.

It's a sign of market uncertainty -- tariff policies that whipsaw back and forth, uncertainties about oil supply, and the status of the Iran war are making companies nervous. Amid that backdrop, it's difficult to guess what expenses companies will incur or the appetite for consumer spending for the next several months.

"Some percentage of companies -- more than normal -- will just be saying (they) don't have the visibility to provide discrete guidance for the quarter," David Lefkowitz, head of US Equities at UBS Global Wealth Management, told Morningstar. "There are too many variables, I think, to really game it out."

Image source: Getty Images.

The outlook for year is murky The stock market, in general, indeed hates uncertainty, and we're seeing that play out across earnings reports across a variety of industries. Constellation Brands (STZ +2.08%) posted an earnings beat for its fiscal fourth quarter of 2026 (ending Feb. 28) of $1.90 per share, beating estimates of $1.71. But the beverage alcohol company withdrew its fiscal 2027 guidance, citing the economy and its impact on consumer spending.

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Apparel company Steve Madden (SHOO +1.23%) beat analysts' estimates by a penny per share in the fourth quarter of 2025, but in February, it announced it was withdrawing its 2026 guidance due to uncertainties from U.S. tariffs.

BRP (DOO +2.05%), a Canadian manufacturer of powersports vehicles and marine products, posted earnings of $2.23 per share, beating analysts' expectations for $2.03 per share in the fiscal fourth quarter of 2026 (ending Jan. 31). But the company withdrew its guidance as well, citing $500 million in tariff expenses.

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At least 21 companies have withdrawn or cut their guidance since the beginning of the Iran war, according to Reuters, with companies citing disruptions to supply chains and higher fuel prices.

How investors should respond Pulled guidance creates a challenging investment environment. For long-term investors, I'm in favor of riding the wave even when it gets a little bumpy. Companies are withholding guidance because they don't have a clear idea of the next few months, but the market historically averages 10% gains per year over the long term -- and that's where you should be focused.

For investors who are approaching retirement, this is a time for caution. Broad exchange-traded funds or index funds are ideal investments for their diversification, but it would be a mistake to be overweighted on any one stock and risk a market downturn. If you're investing in individual stocks, carefully review management's commentary and question-and-answer sessions with analysts, even if your company has withdrawn its guidance, to get some clarity on what challenges may lie ahead.

Either way, what we're seeing in the market right now isn't a case of businesses being broken or management error. It's more about the fact that companies don't have crystal balls, and the landscape is shifting too quickly on tariffs and the Middle East, making it hard for them to responsibly project the revenues or profits they'll see.

~ Raises Fiscal 2026 Revenue Guidance and Introduces Fiscal 2026 Earnings Guidance ~

LONG ISLAND CITY, N.Y., May 06, 2026 (GLOBE NEWSWIRE) -- Steven Madden, Ltd. (Nasdaq: SHOO) (the “Company”), a leading designer and marketer of fashion-forward footwear, accessories and apparel, today announced financial results for the first quarter ended March 31, 2026.

Amounts referred to as “Adjusted” are non-GAAP measures that exclude the items defined as “Non-GAAP Adjustments” in the “Non-GAAP Reconciliation” section.

First Quarter 2026 Results

Revenue increased 18.0% to $653.1 million, compared to $553.5 million in the same period of 2025.Gross profit as a percentage of revenue was 54.7%, compared to 40.9% in the same period of 2025. Adjusted gross profit as a percentage of revenue was 46.3%, compared to 40.9% in the same period of 2025.Operating expenses as a percentage of revenue were 39.5%, compared to 32.0% in the same period of 2025. Adjusted operating expenses as a percentage of revenue were 39.2%, compared to 30.8% in the same period of 2025.Income from operations totaled $98.7 million, or 15.1% of revenue, compared to $53.5 million, or 9.7% of revenue, in the same period of 2025. Adjusted income from operations totaled $46.3 million, or 7.1% of revenue, compared to $56.1 million, or 10.1% of revenue, in the same period of 2025.Net income attributable to Steven Madden, Ltd. was $71.8 million, or $1.00 per diluted share, compared to $40.4 million, or $0.57 per diluted share, in the same period of 2025. Adjusted net income attributable to Steven Madden, Ltd. was $32.1 million, or $0.45 per diluted share, compared to $42.4 million, or $0.60 per diluted share, in the same period of 2025.
Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “We got off to a solid start to the year in the first quarter, with healthy underlying demand across our brands driven by compelling product assortments and strong marketing execution.

The Steve Madden brand continued to gain momentum, as consumers responded favorably to our on-trend assortments, resulting in strong comps in our direct-to-consumer business and robust sell-through performance in wholesale. The Kurt Geiger London brand also delivered another strong quarter, with continued momentum across channels.

While earnings declined in the first quarter, we expect to return to earnings growth in the second quarter and deliver strong top- and bottom-line growth for the full year. Looking out further, we are confident that our powerful brands, proven business model and talented team position us to deliver sustainable growth for years to come.”

First Quarter 2026 Channel Results

Revenue for the wholesale business in the first quarter of 2026 was $443.6 million, a 1.0% increase compared to the first quarter of 2025. Excluding Kurt Geiger, wholesale revenue declined 8.2%. Wholesale footwear revenue decreased 5.8%, or 12.0% excluding Kurt Geiger. Wholesale accessories/apparel revenue increased 15.1%, or decreased 0.5% excluding Kurt Geiger. Gross profit as a percentage of wholesale revenue was 49.2% in the first quarter of 2026, compared to 35.7% in the first quarter of 2025. Adjusted gross profit as a percentage of wholesale revenue was 39.2%, compared to 35.7% in the first quarter of 2025, due to higher average selling prices as well as mix benefits from the addition of the Kurt Geiger business and a lower penetration of private label.

Direct-to-consumer revenue in the first quarter of 2026 was $206.0 million, an 83.8% increase compared to the first quarter of 2025. Excluding Kurt Geiger, direct-to-consumer revenue increased 8.0%. Gross profit as a percentage of direct-to-consumer revenue was 65.9%, compared to 60.1% in the first quarter of 2025. Adjusted gross profit as a percentage of direct-to-consumer revenue was 60.8%, compared to 60.1% in the first quarter of 2025, as a result of the addition of the Kurt Geiger business as well as a modest increase in the organic business.

The Company ended the quarter with 387 Company-operated brick-and-mortar retail stores, including 95 outlets, as well as eight e-commerce websites and 162 Company-operated concessions in international markets.

Balance Sheet and Cash Flow Highlights

As of March 31, 2026, total debt outstanding was $286.5 million, and cash and cash equivalents were $77.2 million, for net debt of $209.3 million.

During the first quarter of 2026, the Company did not repurchase any shares of its common stock in the open market.

Quarterly Cash Dividend

The Company’s Board of Directors approved a quarterly cash dividend of $0.21 per share. The dividend is payable on June 19, 2026 to stockholders of record as of the close of business on June 8, 2026.

Updated Fiscal 2026 Outlook

The Company is raising its fiscal 2026 revenue guidance and introducing fiscal 2026 diluted earnings per share guidance. The Company now expects fiscal 2026 revenue will increase 10% to 12% compared to fiscal 2025. The Company expects fiscal 2026 diluted EPS will be in the range of $2.55 to $2.65. The Company expects Adjusted diluted EPS will be in the range of $2.00 to $2.10.

Conference Call Information

Interested stockholders are invited to listen to the conference call scheduled for today, May 6, 2026, at 8:30 a.m. Eastern Time, which will include a discussion of the Company's first quarter 2026 earnings results and updated fiscal 2026 outlook. The call will be webcast live on the Company’s website at https://investor.stevemadden.com. A webcast replay of the conference call will be available on the Company's website or via the following webcast link https://edge.media-server.com/mmc/p/vf5worz8 beginning today at approximately 10:00 a.m. Eastern Time.

About Steve Madden

Steve Madden designs, sources and markets fashion-forward footwear, accessories and apparel. In addition to marketing products under its own brands including Steve Madden®, Kurt Geiger London®, Dolce Vita®, Betsey Johnson®, Carvela®, Blondo® and ATM®, Steve Madden licenses footwear, handbags and other accessory categories for the Anne Klein® brand. Steve Madden also designs and sources products under private label brand names for various retailers. Steve Madden’s wholesale distribution includes department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers and independent stores. Steve Madden also directly operates brick-and-mortar retail stores and e-commerce websites. In addition, Steve Madden licenses certain of its brands to third parties for the marketing and sale of certain products in the apparel, accessory and home categories.

Safe Harbor Statement Under the U.S. Private Securities Litigation Reform Act of 1995

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include, among others, statements regarding revenue and earnings guidance, plans, strategies, objectives, expectations and intentions. Forward-looking statements can be identified by words such as: “may,” “will,” “expect,” “believe,” “should,” “anticipate,” “project,” “predict,” “plan,” “intend,” “estimate,” or “confident,” and similar expressions or the negative of these expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they represent the Company’s current beliefs, expectations, and assumptions regarding anticipated events and trends affecting its business and industry based on information available as of the time such statements are made. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which may be outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in these forward-looking statements. As such, investors should not rely upon them. Important risk factors include:

our ability to accurately anticipate fashion trends and promptly respond to consumer demand;our ability to compete effectively in a highly competitive market;our ability to adapt to our business model to rapid changes in the retail industry;our dependence on the hiring and retention of key personnel;our ability to successfully implement growth strategies and integrate acquired businesses;changes in trade policies, additional tariffs on product imported to the United States, retaliatory trade actions taken by other countries, and resulting trade wars;supply chain disruptions to product delivery systems and logistics, and our ability to properly manage inventory;geopolitical tensions in the regions in which we operate and any related challenging macroeconomic conditions globally that may materially adversely affect our customers, vendors, and partners, and the duration and extent to which these factors may impact our future business and operations, results of operations, and financial condition;our reliance on independent manufacturers to produce and deliver products in a timely manner or to meet our quality standards if we experience a supply chain disruption and we are unable to secure an alternative source of raw materials or end products;our dependence on one or more of our significant customers;quarterly fluctuations of our financial results; extreme or unseasonable weather conditions in locations where we or our customers and suppliers are located;fluctuation of our stock price if our operating results are inconsistent with our forecasts or those of analysts who follow us;our exposure to risks related to integrating the operations, systems, processes, reporting, supply chains, and personnel of Kurt Geiger into our business;our exposure to risks associated with increased indebtedness used to finance the acquisition of Kurt Geiger, including related debt service requirements;our ability to manage risks associated with substantial goodwill and intangible assets recorded from the acquisition of Kurt Geiger, which could subsequently become impaired upon adverse changes to the business environment in which we operate;disruption of our information technology systems or e-commerce platforms;cybersecurity risks and costs of defending against, mitigating, and responding to data security threats and breaches impacting the Company;our ability to effectively implement artificial intelligence and data-driven technologies across our operations, and the risks that such technologies may not perform as expected, may be subject to regulatory constraints, or may increase operational, legal, or cybersecurity risks;litigation or other legal proceedings could divert management resources and result in costs;legal, regulatory, political, and economic risks that may affect our operations in international markets;exposure to foreign exchange rate fluctuations;our ability to adequately protect our trademarks and other intellectual property rights;changes in economic conditions;additional tax liabilities resulting from audits by various taxing authorities;changes in U.S. and foreign tax laws that could have an adverse effect on our financial results;the loss of a significant license;the actions of our licensees and diminished brand integrity;the actions of our licensees or the loss of a significant licensee and diminished brand integrity;failure of our manufacturers, the manufacturers used by our licensees, or our licensees themselves to use acceptable labor practices or to otherwise comply with local laws and other standards;our ability to maintain effective internal control over our financial reporting; andother risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission. The Company does not undertake, and disclaims, any obligation to publicly update any forward-looking statement, including, without limitation, any guidance regarding revenue or earnings, whether as a result of new information, future developments, or otherwise.

STEVEN MADDEN, LTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)
(Unaudited)

     Three Months Ended  March 31, 2026 March 31, 2025     Net sales $649,660  $551,382 Licensing fee income  3,436   2,152 Total revenue  653,096   553,534 Cost of sales  295,676   327,267 Gross profit  357,420   226,267 Operating expenses  258,293   177,263 Change in valuation of contingent payment liability  385   (4,495)Income from operations  98,742   53,499 Interest and other (expense) / income, net  (3,605)  829 Income before provision for income taxes  95,137   54,328 Provision for income taxes  23,494   13,068 Net income  71,643   41,260 Less: net (loss) / income attributable to noncontrolling interest  (179)  837 Net income attributable to Steven Madden, Ltd. $71,822  $40,423      Basic income per share $1.01  $0.57      Diluted income per share $1.00  $0.57      Basic weighted average common shares outstanding  71,163   70,773      Diluted weighted average common shares outstanding  71,876   71,055      Cash dividends declared per common share $0.21  $0.21           STEVEN MADDEN, LTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

           As of    March 31, 2026 December 31, 2025 March 31, 2025  (Unaudited)   (Unaudited)ASSETS      Current assets:      Cash and cash equivalents $77,157 $112,423 $144,762Short-term investments  —  —  2,480Accounts receivable, net of allowances  97,098  91,854  70,830Factor accounts receivable  346,497  311,563  387,706Inventories  379,369  417,016  238,641Prepaid expenses and other current assets  139,553  46,759  34,908Income tax receivable and prepaid income taxes  9,252  21,084  6,686Total current assets  1,048,926  1,000,699  886,013Property and equipment, net  112,342  115,802  65,853Operating lease right-of-use asset  237,305  235,855  152,689Deposits and other  22,791  22,764  22,040Deferred tax assets  3,220  3,220  610Goodwill  254,154  254,518  187,441Intangibles, net  276,222  281,419  112,555Total Assets $1,954,960 $1,914,277 $1,427,201LIABILITIES      Current liabilities:      Accounts payable $195,725 $197,247 $217,192Accrued expenses and other current liabilities  193,664  258,794  110,327Operating leases - current portion  61,892  58,827  45,526Income taxes payable  13,192  4,488  18,855Accrued incentive compensation  6,921  6,351  2,654Total current liabilities  471,394  525,707  394,554Contingent payment liability - long-term portion  15,265  14,880  3,070Operating leases - long-term portion  191,929  193,145  120,730Long-term debt  286,497  234,166  —Deferred tax liabilities  36,329  36,142  5,067Other liabilities  6,298  6,255  104Total Liabilities  1,007,712  1,010,295  523,525       STOCKHOLDERS’ EQUITY      Total Steven Madden, Ltd. stockholders’ equity  913,152  866,388  875,344Noncontrolling interest  34,096  37,594  28,332Total stockholders’ equity  947,248  903,982  903,676Total Liabilities and Stockholders’ Equity $1,954,960 $1,914,277 $1,427,201           STEVEN MADDEN, LTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)
(Unaudited)

     Three Months Ended  March 31, 2026 March 31, 2025Cash flows from operating activities:    Net income $71,643  $41,260 Adjustments to reconcile net income to net cash provided by operating activities:    Stock-based compensation  7,279   7,155 Depreciation and amortization  9,358   5,253 Amortization of debt issuance costs  441   — Loss on disposal of fixed assets  100   1 Deferred taxes  32   441 Change in valuation of contingent payment liability  385   (4,495)Other operating activities  100   (843)Changes, net of acquisitions, in:    Accounts receivable  (6,448)  (23,229)Factor accounts receivable  (35,574)  (38,988)Inventories  34,266   23,866 Prepaid expenses, income tax receivables, prepaid taxes, and other assets  (83,431)  3,069 Accounts payable, accrued expenses, and other current liabilities  (55,335)  (15,357)Accrued incentive compensation  595   (12,419)Leases and other liabilities  1,252   (4,546)     Net cash used in operating activities  (55,337)  (18,832)     Cash flows from investing activities:    Capital expenditures  (5,901)  (9,847)Maturity / sale of short-term investments  —   11,038 Other investing activities  —   (2,196)Net cash used in investing activities  (5,901)  (1,005)     Cash flows from financing activities:    Common stock repurchased and net settlements of stock awards  (7,367)  (7,770)Borrowings, net of repayments  52,000   — Cash dividends paid on common stock  (15,290)  (15,186)Distribution of noncontrolling interest  (2,924)  (2,946)Net cash provided by / (used in) financing activities  26,419   (25,902)Effect of exchange rate changes on cash and cash equivalents  (447)  577 Net decrease in cash and cash equivalents  (35,266)  (45,162)Cash and cash equivalents – beginning of period  112,423   189,924      Cash and cash equivalents – end of period $77,157  $144,762           STEVEN MADDEN, LTD. AND SUBSIDIARIES

NON-GAAP RECONCILIATION

(In thousands, except per share amounts)

(Unaudited)

The Company uses non-GAAP financial information to evaluate its operating performance and in order to represent the manner in which the Company conducts and views its business. Additionally, the Company believes the information assists investors in comparing the Company’s performance across reporting periods on a consistent basis by excluding items that are not indicative of its core business. The non-GAAP financial information is provided in addition to, and not as an alternative to, the Company’s reported results prepared in accordance with GAAP.  

Table 1 - Reconciliation of GAAP gross profit to Adjusted gross profit     Three Months Ended  March 31, 2026 March 31, 2025     GAAP gross profit $357,420  $226,267Non-GAAP Adjustments  (55,090)  280Adjusted gross profit $302,330  $226,547 Table 2 - Reconciliation of GAAP operating expenses to Adjusted operating expenses     Three Months Ended  March 31, 2026 March 31, 2025     GAAP operating expenses $258,293  $177,263 Non-GAAP Adjustments  (2,264)  (6,796)Adjusted operating expenses $256,029  $170,467  Table 3 - Reconciliation of GAAP income from operations to Adjusted income from operations  Three Months Ended  March 31, 2026 March 31, 2025     GAAP income from operations $98,742  $53,499Non-GAAP Adjustments  (52,441)  2,580Adjusted income from operations $46,301  $56,079 Table 4 - Reconciliation of GAAP provision for income taxes to Adjusted provision for income taxes  Three Months Ended  March 31, 2026 March 31, 2025     GAAP provision for income taxes $23,494  $13,068Non-GAAP Adjustments  (12,684)  612Adjusted provision for income taxes $10,810  $13,680 Table 5 - Reconciliation of GAAP net income attributable to Steven Madden, Ltd. to Adjusted net income attributable to Steven Madden, Ltd.  Three Months Ended  March 31, 2026 March 31, 2025     GAAP net income attributable to Steven Madden, Ltd. $71,822  $40,423Non-GAAP Adjustments  (39,757)  1,968Adjusted net income attributable to Steven Madden, Ltd. $32,065  $42,391     GAAP diluted net income per share $1.00  $0.57     Adjusted diluted net income per share $0.45  $0.60 Table 6 - Reconciliation of GAAP diluted net income per share to Adjusted diluted net income per share in fiscal 2026 outlook  Fiscal 2026 Outlook  Low End High End     GAAP diluted net income per share $2.55  $2.65 Non-GAAP Adjustments  (0.55)  (0.55)Adjusted diluted net income per share $2.00  $2.10           Non-GAAP Adjustments include the items below.

For the first quarter of 2026:

$55.1 million pre-tax ($41.8 million after-tax) benefit in connection with the expected recovery of previously incurred tariffs, imposed under the International Emergency Economic Powers Act, on inventory sold in the prior year, included in cost of sales.$1.2 million pre-tax ($0.9 million after-tax) expense in connection with severances and related charges, included in operating expenses.$0.8 million pre-tax ($0.6 million after-tax) expense in connection with legal settlements and related fees, included in operating expenses.$0.3 million pre-tax ($0.2 million after-tax) expense in connection with an acquisition and formation of joint ventures, included in operating expenses.$0.4 million pre-tax ($0.3 million after-tax) net expense in connection with the change in valuation of contingent payment liabilities related to acquisitions.
For the first quarter of 2025:

$0.3 million pre-tax ($0.2 million after-tax) expense in connection with the purchase accounting fair value adjustment of inventory from acquired businesses, included in cost of sales.$1.2 million pre-tax ($0.9 million after-tax) expense in connection with legal settlements and related fees, included in operating expenses.$2.4 million pre-tax ($1.8 million after-tax) expense in connection with severances and related charges, included in operating expenses.$3.2 million pre-tax ($2.4 million after-tax) expense in connection with an acquisition and formation of joint ventures, included in operating expenses.$4.5 million pre-tax ($3.4 million after-tax) net benefit in connection with the change in valuation of contingent payment liabilities related to acquisitions.
Contact

Steven Madden, Ltd.
VP of Corporate Development & Investor Relations
Danielle McCoy
718-308-2611
[email protected] 

Steven Madden, Ltd. (SHOO) Q1 2026 Earnings Call Transcript

Steven Madden (SHOO - Free Report) reported $653.1 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 18%. EPS of $0.45 for the same period compares to $0.60 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $643.82 million, representing a surprise of +1.44%. The company delivered an EPS surprise of +7.99%, with the consensus EPS estimate being $0.42.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Steven Madden performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenue- International: $227.96 million compared to the $155.71 million average estimate based on two analysts.Revenue- Domestic: $425.13 million compared to the $486.55 million average estimate based on two analysts.Total Revenue- Net Sales: $649.66 million versus $642.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.8% change.Total Revenue- Commission and licensing fee income: $3.44 million versus $2.14 million estimated by three analysts on average.Revenue- Direct-to-Consumer: $206.01 million versus the three-analyst average estimate of $150 million.Total Revenue- Wholesale Accessories/Apparel: $164.78 million versus $149.56 million estimated by three analysts on average.Revenue- Total Wholesale: $443.65 million versus $450.88 million estimated by three analysts on average.Total Revenue- Wholesale Footwear: $278.87 million versus the three-analyst average estimate of $301.31 million.Income from operations- Wholesale Footwear: $80.38 million versus the two-analyst average estimate of $55.36 million.Income from operations- Wholesale Accessories/Apparel: $43.95 million versus the two-analyst average estimate of $15.56 million.Income from operations- Corporate: $-27.17 million versus the two-analyst average estimate of $-23.27 million.Income from operations- Direct-to-Consumer: $-1.58 million compared to the $-9.37 million average estimate based on two analysts.View all Key Company Metrics for Steven Madden here>>>

Shares of Steven Madden have returned +7% over the past month versus the Zacks S&P 500 composite's +9.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

A month has gone by since the last earnings report for Steven Madden (SHOO - Free Report) . Shares have added about 12.1% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Steven Madden due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Steven Madden, Ltd. before we dive into how investors and analysts have reacted as of late.

SHOO Q1 Earnings Beat Estimates, FY26 Revenue Outlook RaisedSteven Madden reported fiscal first-quarter 2026 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. The top line increased year over year. The company highlighted strong momentum across its core brands, particularly Steven Madden and Kurt Geiger. Online searches for the Steven Madden brand increased 27% during the quarter. Management pointed to healthy consumer demand, strong sell-through trends at department stores and improving traction in direct-to-consumer channels. The company also raised its fiscal 2026 revenue outlook, supported by better-than-expected performance from Kurt Geiger, Steven Madden and Dolce Vita.

SHOO’s Q1 Performance: Key InsightsSHOO posted adjusted earnings of 45 cents per share, which beat the Zacks Consensus Estimate of 42 cents. However, the bottom line declined 25% from 60 cents in the prior-year quarter.

Total revenues rose 18% year over year to $653.1 million from $553.5 million, surpassing the Zacks Consensus Estimate of $643.8 million.

SHOO’s Segmental PerformanceWholesale revenues increased 1% year over year to $443.6 million. Excluding Kurt Geiger, wholesale revenues declined 8.2%, primarily due to softness in private label. Adjusted gross margin in the segment increased to 49.2% from 35.7% in the prior-year period, driven by higher average selling prices, favorable business mix and lower private-label penetration.

Wholesale footwear revenues were $278.9 million, declining 5.8%, but declined 12%, excluding Kurt Geiger. While wholesale accessories/apparel revenues rose 15.1% year over year to $164.8 million, they dipped 0.5%, excluding Kurt Geiger.

Direct-to-consumer revenues jumped 83.8% year over year to $206 million. However, excluding Kurt Geiger, DTC revenues increased 8% year over year, reflecting growth across brick-and-mortar and e-commerce channels. Adjusted gross margin in the segment increased to 60.8% from 60.1% in the prior-year period, supported by the addition of the Kurt Geiger business and a modest improvement in the organic business.

Licensing royalty income increased to $3.4 million in the quarter from $2.2 million in the first quarter of 2025, reflecting year-over-year growth in royalty-related earnings during the period.

International comparable sales decreased 5% during the period. However, excluding stores in the Middle East, international comparable sales increased 1%.

SHOO’s Margin & Cost PerformanceAdjusted gross profit increased 33.5% year over year to $302.3 million from $226.5 million in the same period of 2025. Adjusted gross margin also expanded to 46.3% from 40.9% in the prior-year period, reflecting improved profitability and margin performance.

Adjusted operating expenses increased 50.2% to $256 million from $170.5 million in the same period of 2025. Adjusted operating expenses, as a percentage of revenue, also rose to 39.2% from 30.8% in the prior-year period.

Adjusted income from operations declined 17.4% year over year to $46.3 million from $56.1 million in the same period last year. As a percentage of revenue, adjusted income from operations decreased to 7.1% from 10.1% in the prior-year period.

SHOO’s Financial Health SnapshotAs of March 31, 2026, Steven Madden had $77.2 million in cash and cash equivalents and $286.5 million in total debt, resulting in net debt of $209.3 million. Inventories totaled $379.4 million, up from $238.6 million in the year-ago period, though inventories declined 2.5% excluding Kurt Geiger.

Capital expenditures during the quarter totaled $5.9 million. The company did not repurchase shares in the open market during the quarter. Its board approved a quarterly cash dividend of 21 cents per share, payable on June 19, 2026, to shareholders of record as of June 8.

SHOO’s Outlook for Fiscal 2026Steven Madden raised its fiscal 2026 revenue guidance and now expects revenues to increase in the range of 10-12% from fiscal 2025 levels compared with the prior expectation of 9-11% growth. The company expects adjusted EPS between $2.00 and $2.10 for fiscal 2026.

Management expects mid- to high-single-digit revenue growth for the Steven Madden brand, mid-teens pro forma revenue growth for Kurt Geiger and high-single-digit revenue growth for Dolce Vita. The company also expects a return to earnings growth beginning in the second quarter, continued year-over-year gross margin improvement through the balance of the year and SG&A growth of around 25% in the second quarter, low teens in the third quarter and high singles in the fourth quarter.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.

The consensus estimate has shifted -6.06% due to these changes.

VGM ScoresAt this time, Steven Madden has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Steven Madden has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Growing used car demand and surging interest in fuel-efficient vehicles are creating new opportunities for shoppers and dealers alike

BOSTON, April 07, 2026 (GLOBE NEWSWIRE) -- CarGurus, the No. 1 most visited automotive shopping site in the U.S.¹, today released its Quarterly Review for Q1 2026, highlighting the key trends shaping the automotive market and where opportunities are emerging for car shoppers and dealers.

Affordability continues to drive consumer decision-making in 2026, with rising gas prices adding a new layer to considerations about the total cost of car ownership. Buyers are adapting by turning to nearly new used cars, fuel-efficient powertrains, and value-priced options. The result is a market with real momentum in several segments, even as new vehicle sales slow overall.

"Today’s consumers are being nimble, making carefully considered compromises to get into the vehicles they want at prices that work," said Kevin Roberts, Director of Economic and Market Intelligence at CarGurus. "Nearly new used vehicle sales are a bright spot this quarter as shoppers with a budget around $30,000 are now more open to lightly used models to expand their options — a smart move as the share of new cars available at that price point has dropped 60% over the last five years."

Key trends from the quarter include:

Nearly new hits the sweet spot: Sales of nearly new used cars, 2 years old or younger, jumped 24% year-over-year (YoY) in Q1, driving the majority of the used market's growth. The nearly new models with the largest YoY sales growth show where shoppers are gravitating: compact body styles with an average price well under $30,000. Top sellers include the Chevrolet Trax, Jeep Compass, Kia K4, Toyota Corolla, and Nissan Sentra.Older models also drive demand: The other end of the age spectrum also showed strength this quarter for shoppers looking to stay closer to a $10,000 budget. Sales of 8- to 10-year-old models grew 4% YoY, and vehicles 11 years and older posted 7% growth.Affordability pressures make their mark on new: New vehicle market days supply (MDS), a measure of supply in relation to the current sales pace, reached 73 days in March, well above the industry target of 60. Hybrids carry the tightest supply of any powertrain at just 47 days, and options under $30,000 are at about 63 days, a sign that demand is strongest where price and efficiency meet. Toyota’s Grand Highlander Hybrid, Sienna, Grand Highlander, RAV4, and Corolla Cross are the lowest supply models, all offering efficiency at more attainable prices.Fuel-efficient vehicles gain momentum: Rising gas prices are driving interest in more efficient powertrains. Over the last month, the share of views on CarGurus for new EV listings increased by 31%, while hybrids were up 16% (based on a rolling seven-day average). The share of used EV views jumped by 40%, and used hybrids were up by 17%. Used EV consideration has translated to demand, with sales up almost 30% YoY despite the expiration of federal tax credits. Affordable models led used EV sales growth, with the Tesla Model Y, Hyundai Ioniq 5, Chevy Equinox EV, and Nissan Ariya seeing some of the biggest gains. The full Q1 2026 Quarterly Review is available here with deeper insights on these findings.

About CarGurus, Inc.

CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.1 with the largest selection of inventory and network of dealers.2 CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company’s network of brands includes PistonHeads, the largest online motoring community in the U.K.3, and Autolist, a U.S.- based online marketplace.

To learn more about CarGurus, visit www.cargurus.com.

1
Similarweb: Traffic and Engagement Report (Cars.com, Autotrader.com, TrueCar.com, CARFAX.com Listings (defined as CARFAX.com Total Visits minus Vehicle History Reports)), Q4 2025, U.S.
2Compared to Autotrader.com (YipitData July/August 2025), Cars.com,
TrueCar.com (YipitData as of September 30, 2025), and CARFAX (Joreca as of September 30, 2025).
3Similarweb: Traffic Insights, Q4 2025, U.K.

CarGurus® and Autolist® are each a registered trademark of CarGurus, Inc., and PistonHeads® is a registered trademark of CarGurus Ireland Limited in the U.K. and the European Union. All other product names, trademarks, and registered trademarks are property of their respective owners.

Media Contact:
Maggie Meluzio
Director, Public Relations & External Communications

[email protected] Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
[email protected]

April 20, 2026 16:05 ET  | Source: CarGurus, Inc.

BOSTON, April 20, 2026 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited automotive shopping site in the U.S.1, announced it will issue a press release reporting financial results for the quarter ended March 31, 2026, after the close of the market on May 7, 2026.

CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on May 7, 2026. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of the company’s website at investors.cargurus.com.

An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time on May 7, 2026, until 11:59 p.m. Eastern Time on May 21, 2026, by dialing (844) 512-2921 for the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13759185. In addition, an archived webcast will be available on the Investors section of the company’s website at investors.cargurus.com.

About CarGurus, Inc.

CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.1 with the largest selection of inventory and network of dealers.2 CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company’s network of brands includes PistonHeads, the largest online motoring community in the U.K.3, and Autolist, a U.S.- based online marketplace.

To learn more about CarGurus, visit www.cargurus.com.

CarGurus® is a registered trademark of CarGurus, Inc.

All other product names, trademarks, and registered trademarks are the property of their respective owners.

1Similarweb: Traffic and Engagement Report (Cars.com, Autotrader.com, TrueCar.com, CARFAX.com Listings
(defined as CARFAX.com total visits minus Vehicle History Reports traffic)), Q4 2025, U.S.
2Compared to Autotrader.com, Cars.com, TrueCar.com, and CARFAX.com (Joreca as of December 31, 2025).
3Similarweb: Traffic Insights, Q4 2025, U.K.

Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
[email protected]

Media Contact:
Maggie Meluzio
Director, Public Relations & External Communications
[email protected]

Chosen by expert reviewers and backed by CarGurus’ proprietary data, the awards highlight the best cars for affordability, modern design, and smart engineering in four key categories

BOSTON, May 06, 2026 (GLOBE NEWSWIRE) -- CarGurus, the No. 1 most visited automotive shopping site in the U.S.1, today announced the winners of the 2026 CarGurus Confidence Awards, recognizing standout vehicles in four categories that reflect the needs of today’s shoppers: Best Truck for Families, Best Family Upgrade, Best Electric Vehicle (EV) Experience, and Best Smart Luxury Model.

Category winners represent the top new car models that combine strong value, modern design, and thoughtful engineering. The picks are based on CarGurus marketplace data, hands-on testing, and editorial reviews of hundreds of vehicles each year. Winners were selected from a competitive field spanning a range of segments, powertrains, and price points.

“Car shoppers face more decisions than ever, from new models, technology, and powertrain options, to a bigger emphasis on value and reliability,” said David Undercoffler, Head of Consumer Insights at CarGurus. “The Confidence Awards help cut through that complexity to spotlight the vehicles that truly deliver — whether it’s for growing families, first-time EV buyers, or drivers looking for premium features without the premium price. Backed by insights from the largest car shopping platform in the U.S.2, our awards offer a trusted guide to the best new vehicles available today.”

CarGurus 2026 Confidence Awards winners include:

Best Truck for Families: Ram 1500. Edging out over 30 eligible trucks, the Ram 1500 posted the highest marks in safety, form, and function. Configuration options include 10 trim levels, two cab sizes, and multiple bed lengths to suit families of all sizes. This combination of refinement, capability, and adaptability set the Ram 1500 apart.
Best Family Upgrade: Toyota Grand Highlander. Built for growing families, the Toyota Grand Highlander stood out for its ability to meet the evolving needs. With a genuinely usable third row, expansive cargo capacity, and three distinct powertrain options, it delivers versatility for everyday driving while earning top marks in safety, form, and function.
Best Smart Luxury: Genesis G70. Offering luxury without compromise, the Genesis G70 rose above a competitive field by excelling in look, feel, and technology. Striking design, performance, and high-quality materials deliver a premium experience, while a strong cost-value score makes the Genesis G70 a standout in the segment.
Best EV Experience: Hyundai Ioniq 5. Making EV ownership easy, the Hyundai Ioniq 5 earned one of the most decisive victories across all categories. Leading in cost-effectiveness and technology, it simplifies the transition from gas to electric driving with intuitive features, flexible charging capabilities, and a spacious, user-friendly design that meets drivers where they are. The full awards breakdown, including expert insights and runner-up selections, is available here.

Methodology
To determine the winners, CarGurus evaluated eligible vehicles using a combination of marketplace data and expert editorial analysis. Vehicles needed to meet minimum inventory thresholds on the CarGurus site and fall within pricing guidelines relative to MSRP, with additional category-specific limits applied where relevant.

Each vehicle was scored across six key attributes: look and feel, performance, form and function, tech level, safety, and overall value. The weighting of these factors varied by category to reflect what matters most to shoppers. CarGurus’ editorial team then ranked their top vehicles in each category using a weighted voting system.

About CarGurus, Inc.

CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.1 with the largest selection of inventory and network of dealers.2 CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company’s network of brands includes PistonHeads, the largest online motoring community in the U.K.3, and Autolist, a U.S.- based online marketplace.

To learn more about CarGurus, visit www.cargurus.com.

1Similarweb: Traffic and Engagement Report (Cars.com, Autotrader.com, TrueCar.com, CARFAX.com
Listings (defined as CARFAX.com Total Visits minus Vehicle History Reports)), Q4 2025, U.S.
2Largest car shopping platform defined as most inventory and largest dealer network. Compared to
Autotrader.com , Cars.com, TrueCar.com, and CARFAX (Joreca as of December 31, 2025).
3Similarweb: Traffic Insights, Q4 2025, U.K.

CarGurus® and Autolist® are each a registered trademark of CarGurus, Inc., and PistonHeads® is a registered trademark of CarGurus Ireland Limited in the U.K. and the European Union. All other product names, trademarks, and registered trademarks are property of their respective owners.

© 2026 CarGurus, Inc., All Rights Reserved.

Media Contact:
Maggie Meluzio
Director, Public Relations & External Communications
[email protected]

Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
[email protected]

Q1’26 revenue grew 15% YoY to $244 million, at the midpoint of our guidance range

Q1’26 GAAP Net Income from continuing operations of $32.2 million, down 23% YoY; Non-GAAP Adjusted EBITDA from continuing operations of $80.2 million, above the high end of our guidance range

Repurchased $175 million worth of shares in Q1’26; total repurchases since December 2022 represent 29% of shares outstanding

BOSTON, May 07, 2026 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited automotive shopping site in the U.S.1, today announced financial results for the first quarter ended March 31, 2026.

“We are pleased with our first quarter results, as we sustained our momentum with revenue growing 15% year-over-year as we continued to invest in AI-led product innovation across dealer pillars and the consumer journey,” said Jason Trevisan, Chief Executive Officer at CarGurus. "We are embedding data and predictive intelligence more directly into dealer decision-making across inventory, marketing, and lead conversion while transforming the consumer experience with AI-powered solutions that help consumers shop with greater confidence. We believe that our product innovation engine positions us well to extend our leadership and sustain long-term growth.”

First Quarter Financial Highlights

Below are our financial highlights from continuing operations(1) for the three months ended March 31, 2026.

  Three Months Ended   March 31, 2026   Results
(in millions)  Variance from Prior Year Revenue $243.6   15%       Gross Profit(2) $224.6   14%% Margin  92% (102) bps        Operating Expenses(2) $184.5   25%       GAAP Net Income from continuing operations(2) $32.2   (23)%% Margin  13% (659) bps        Non-GAAP Adjusted EBITDA from continuing operations(3) $80.2   17%% Margin(3)  33% 56 bps        Cash and Cash Equivalents at period end $72.0   (62)% (1)    In August 2025 the Board of Directors of CarGurus approved the wind-down of CarOffer, LLC (“CarOffer”), which was completed as of December 31, 2025. We have presented the financial results of CarOffer as discontinued operations in the Unaudited Condensed Consolidated Financial Statements. No assets or liabilities were classified as discontinued operations as of March 31, 2026 or December 31, 2025. No results of operations were classified as discontinued operations for the three months ended March 31, 2026. The Unaudited Condensed Consolidated Income Statement for the three months ended March 31, 2025, was derived from the Unaudited Condensed Consolidated Income Statement of CarGurus, Inc. as of that date, adjusted for the reclassification of discontinued operations. The Unaudited Condensed Consolidated Statement of Cash Flows as of March 31, 2025, related to discontinued operations has not been separately reclassified and are included within the period referenced.
(2)    During the three months ended March 31, 2026, we recorded $19.7 million of impairments, inclusive of $0.5 million recorded to cost of revenue and $19.2 million recorded to operating expenses. During the three months ended March 31, 2025, there was no impairment recorded.
(3)    For more information regarding our use of non-GAAP Adjusted EBITDA from continuing operations and other non-GAAP financial measures, please see the reconciliations of GAAP financial measures to non-GAAP financial measures and the section titled “Non-GAAP Financial Measures and Other Business Metrics” below.

  Three Months Ended   March 31, 2026   Results  Variance from Prior Year Key Performance Indicators(1)      U.S. Paying Dealers  26,116   4%International Paying Dealers  8,480   17%Total Paying Dealers  34,596   7%       U.S. QARSD $7,996   9%International QARSD $2,468   19%Consolidated QARSD $6,647   8% (1)    For more information regarding our use of Key Performance Indicators, please see the section titled “Non-GAAP Financial Measures and Other Business Metrics” below.

Second Quarter and Full-Year 2026 Guidance 

The table below provides CarGurus’ guidance, which is based on recent market trends, industry conditions, and management’s expectations and assumptions as of today.

Second Quarter 2026 Guidance MetricsValuesTotal revenue$247.0 million to $252.0 millionNon-GAAP Adjusted EBITDA from continuing operations$77.5 million to $85.5 millionNon-GAAP Earnings per Share from continuing operations$0.57 to $0.64 Full-Year 2026 Guidance MetricsValuesRevenue change YoY10% to 13%Non-GAAP Adjusted EBITDA from continuing operations margin change YoY(1.5)% to (2.5)%
The second quarter 2026 non-GAAP earnings per share from continuing operations calculations assumes 91.0 million diluted weighted-average common shares outstanding.

The assumptions that are built into guidance for the second quarter and full-year 2026 regarding our pace of paid dealer acquisition, churn, and expansion activity for the relevant period are based on recent market trends and industry conditions. Guidance for the second quarter and full-year 2026 excludes macro-level industry issues that result in dealers and consumers materially changing their recent market trends or that cause us to enact measures to assist dealers. Guidance also excludes any potential impact of future foreign currency exchange gains or losses. CarGurus may incur charges, realize gains or losses, or experience other events or circumstances in 2026 that could cause any of these assumptions to change and/or actual results to vary from this guidance.

CarGurus has not reconciled its guidance of non-GAAP Adjusted EBITDA from continuing operations to GAAP net income from continuing operations or non-GAAP earnings per share from continuing operations to GAAP earnings per share from continuing operations because we are unable to accurately predict without unreasonable effort the exact amount or timing of certain reconciling items between such GAAP and non-GAAP financial measures, including, as applicable, depreciation expenses, amortization of intangible assets, non-intangible amortization, stock-based compensation, impairments, and income tax effects. The variability of these reconciling items could have a significant impact on our future GAAP reported results.

Conference Call and Webcast Information

CarGurus will host a conference call and live webcast to discuss its first quarter 2026 financial results and business outlook at 5:00 p.m. Eastern Time today, May 7, 2026. To access the conference call, dial (877) 451-6152 for callers in the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of CarGurus’ website at investors.cargurus.com.

An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time today, May 7, 2026, until 11:59 p.m. Eastern Time on May 21, 2026, by dialing (844) 512-2921 for callers in the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13759185. In addition, an archived webcast will be available on the Investors section of CarGurus’ website at investors.cargurus.com.

About CarGurus

CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.1 with the largest selection of inventory and network of dealers.2 CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company’s network of brands includes PistonHeads, the largest online motoring community in the U.K.3, and Autolist, a U.S.- based online marketplace. 

To learn more about CarGurus, visit www.cargurus.com.

1 Similarweb: Traffic and Engagement Report (Cars.com, Autotrader.com, TrueCar.com, CARFAX.com Listings
(defined as CARFAX.com Total Visits minus Vehicle History Reports)), Q1 2026, U.S.
2Compared to Autotrader.com, Cars.com, TrueCar.com, and CARFAX (Joreca as of March 31, 2026)
3 Similarweb: Traffic Insights, Q1 2026, U.K.

CarGurus® and Autolist® are each a registered trademark of CarGurus, Inc., and PistonHeads® is a registered trademark of CarGurus Ireland Limited in the U.K. and the European Union. All other product names, trademarks, and registered trademarks are property of their respective owners.

© 2026 CarGurus, Inc., All Rights Reserved.

Cautionary Language Concerning Forward-Looking Statements

This press release includes forward-looking statements. Other than statements of historical facts, all statements contained in this press release, including statements regarding our future financial and operating results; our second quarter and full-year 2026 financial and business performance, including guidance; our plans to focus on technology and analytics that will enable smarter sourcing and pricing decisions; our business and growth strategy and our plans to execute on our growth strategy; our ability to grow our business profitably and efficiently; our capital allocation and investment strategy; our plans relating to share repurchases; the attractiveness and value proposition of our current offerings and other product opportunities; the potential of, and expectations for, our current offerings and other product opportunities; our ability to maintain existing and acquire new customers; addressable opportunities; our expectation that we will continue to invest in growth initiatives; our ability to quickly make transformations necessary for our business to achieve long-term goals; and our ability to overcome challenges facing the automotive industry ecosystem, including inventory supply problems, global supply chain challenges, including disruptions to pre-existing supply chains and vendor relations, changes to trade policies or tariff regulations, financial market volatility and disruption, increased interest rates, inflationary concerns, and other macroeconomic issues, including uncertain or volatile economic conditions in the U.S. and abroad, are forward-looking statements. The words “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “guide,” “guidance,” “intend,” “may,” “might,” “plan,” “potential,” “predicts,” “projects,” “seeks,” “should,” “target,” “will,” “would,” and similar expressions and their negatives are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we reasonably believe may affect our business, financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, financial needs, and growth prospects. You should not rely upon forward-looking statements as predictions of future events.

These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including risks related to our growth and our ability to grow our revenue; our relationships with dealers; competition in the markets in which we operate; market growth; our ability to innovate; increased inflation and interest rates, global supply chain challenges, changes in international trade policies, including tariffs, volatile economic conditions, and other macroeconomic issues; the impact of changes in tax law and related guidance and regulations that may be implemented, including on tax rates, our business, and our financial results; changes in our key personnel; natural disasters, epidemics, or pandemics; and our ability to operate in compliance with applicable laws as well as other risks and uncertainties as may be detailed from time to time in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other reports we file with the U.S. Securities and Exchange Commission. We operate in a very competitive and rapidly changing environments. New risks and uncertainties emerge from time to time. It is not possible for us to predict all risks and uncertainties that could have an impact on any forward-looking statements we may make. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
[email protected]

Media Contact:
Maggie Meluzio
Director, Public Relations and External Communications
[email protected]

Unaudited Condensed Consolidated Balance Sheets
(in thousands, except share and per share data)

  As of
March 31,
2026  As of
December 31,
2025 Assets      Current assets      Cash and cash equivalents $72,049  $190,518 Accounts receivable, net of allowance for doubtful accounts of $800
and $600, respectively  44,568   41,936 Prepaid expenses, prepaid income taxes, and other current assets  30,142   35,259 Deferred contract costs  15,113   15,235 Total current assets  161,872   282,948 Property and equipment, net  129,535   132,952 Intangible assets, net  2,985   3,253 Goodwill  28,030   28,397 Operating lease right-of-use assets  99,237   115,481 Deferred tax assets  80,154   81,201 Deferred contract costs, net of current portion  13,322   13,563 Other non-current assets  4,478   4,102 Total assets $519,613  $661,897 Liabilities and stockholders’ equity      Current liabilities      Accounts payable $30,690  $29,115 Accrued expenses, accrued income taxes, and other current liabilities  32,984   38,393 Deferred revenue  24,656   23,562 Operating lease liabilities  9,621   9,469 Total current liabilities  97,951   100,539 Operating lease liabilities  178,374   181,364 Deferred tax liabilities  438   442 Other non–current liabilities  5,722   5,354 Total liabilities  282,485   287,699 Stockholders’ equity      Preferred stock, $0.001 par value per share; 10,000,000 shares authorized;
no shares issued and outstanding  —   — Class A common stock, $0.001 par value per share; 500,000,000 shares
authorized; 75,673,609 and 80,667,475 shares issued and outstanding
at March 31, 2026 and December 31, 2025, respectively  76   81 Class B common stock, $0.001 par value per share; 100,000,000 shares
authorized; 14,216,250 and 14,216,250 shares issued and outstanding
at March 31, 2026 and December 31, 2025, respectively  14   14 Additional paid-in capital  6,776   10,297 Retained earnings  229,815   362,380 Accumulated other comprehensive income  447   1,426 Total stockholders’ equity  237,128   374,198 Total liabilities and stockholders’ equity $519,613  $661,897  Unaudited Condensed Consolidated Income Statements
(in thousands, except share and per share data)

  Three Months Ended   March 31,   2026  2025 Revenue $243,555  $212,235 Cost of revenue(1)(2)  18,934   14,343 Gross profit  224,621   197,892 Operating expenses      Sales and marketing  97,484   83,669 Product, technology, and development  37,671   35,028 General and administrative  26,481   24,785 Impairments  19,201   — Depreciation and amortization  3,705   3,756 Total operating expenses  184,542   147,238 Income from continuing operations  40,079   50,654 Other income, net      Interest income  1,671   3,098 Other expense, net  (606)  (302)Total other income, net  1,065   2,796 Income from continuing operations before income taxes  41,144   53,450 Provision for income taxes  8,916   11,376 Net income from continuing operations  32,228   42,074 Net loss from discontinued operations, net of tax benefits  —   (3,029)Consolidated net income $32,228  $39,045 Net income per share attributable to common stockholders      Basic      Continuing operations $0.34  $0.41 Consolidated $0.34  $0.38 Diluted      Continuing operations $0.34  $0.40 Consolidated $0.34  $0.37 Weighted-average number of shares of common stock used in
computing net income per share attributable to common stockholders      Basic  94,055,057   103,094,690 Diluted  95,096,141   105,068,046  (1)    For the three months ended March 31, 2026 and 2025, cost of revenue includes $3.5 million and $1.9 million, respectively, of depreciation and amortization expense.
(2)    For the three months ended March 31, 2026, cost of revenue includes impairment of $0.5 million. For the three months ended March 31, 2025, there was no impairment recorded in cost of revenue.

Unaudited Geographical Revenue
(in thousands)

  Three Months Ended   March 31,   2026  2025 Revenue by Geographic Region      U.S. $219,989  $195,228 International  23,566   17,007 Total $243,555  $212,235 
Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)

  Three Months Ended   March 31,   2026  2025 Operating Activities      Consolidated net income $32,228  $39,045 Adjustments to reconcile consolidated net income to net cash provided by operating activities      Depreciation and amortization  7,170   6,554 Currency loss (gain) on foreign denominated transactions  129   (165)Deferred taxes  1,054   (3,389)Provision for doubtful accounts  935   424 Stock-based compensation expense  13,272   12,900 Amortization of deferred financing costs  129   129 Amortization of deferred contract costs  4,702   3,810 Impairments  19,711   — Changes in operating assets and liabilities      Accounts receivable  (3,659)  3,070 Inventory  —   (353)Prepaid expenses, prepaid income taxes, and other assets  4,666   6,801 Deferred contract costs  (4,412)  (4,744)Accounts payable  1,172   4,075 Accrued expenses, accrued income taxes, and other liabilities  (7,082)  (5,592)Deferred revenue  1,104   731 Lease obligations  (1,270)  4,583 Net cash provided by operating activities  69,849   67,879 Investing Activities      Purchases of property and equipment  (391)  (2,240)Capitalization of website development costs  (6,301)  (5,391)Net cash used in investing activities  (6,692)  (7,631)Financing Activities      Proceeds from issuance of common stock upon exercise of stock options  55   394 Payment of withholding taxes on net share settlements of restricted stock units  (6,609)  (8,985)Repurchases of common stock  (174,439)  (182,828)Payment of finance lease obligations  (20)  (20)Change in gross advance payments received from third-party transaction processor  —   (38)Net cash used in financing activities  (181,013)  (191,477)Impact of foreign currency on cash, cash equivalents, and restricted cash  (613)  710 Net decrease in cash, cash equivalents, and restricted cash  (118,469)  (130,519)Cash, cash equivalents, and restricted cash at beginning of period  190,518   306,229 Cash, cash equivalents, and restricted cash at end of period $72,049  $175,710 
Unaudited Reconciliation of GAAP Gross Profit from Continuing Operations to Non-GAAP Gross Profit from Continuing Operations and GAAP Gross Profit from Continuing Operations Margin to Non-GAAP Gross Profit from Continuing Operations Margin
(in thousands, except percentages)

  Three Months Ended   March 31,   2026  2025 Revenue $243,555  $212,235 Cost of revenue  18,934   14,343 GAAP gross profit from continuing operations  224,621   197,892 Stock-based compensation expense included in cost of revenue  59   67 Impairments included in cost of revenue  510   — Non-GAAP gross profit from continuing operations $225,190  $197,959        GAAP gross profit margin from continuing operations  92%  93%Non-GAAP gross profit margin from continuing operations  92%  93%
Unaudited Reconciliation of GAAP Net Income from Continuing Operations to Non-GAAP Net Income from Continuing Operations and GAAP Net Income from Continuing Operations Per Share Attributable to Common Stockholders to Non-GAAP Net Income from Continuing Operations Per Share Attributable to Common Stockholders
(in thousands, except share and per share data)

  Three Months Ended   March 31,   2026  2025 GAAP net income from continuing operations $32,228  $42,074 Amortization of intangible assets  239   230 Stock-based compensation expense  13,272   12,383 Transaction-related expenses  —   2 Impairments  19,711   — Income tax effects and adjustments  (9,878)  (4,387)Non-GAAP net income from continuing operations $55,572  $50,302 GAAP net income from continuing operations per share attributable to common stockholders      Basic $0.34  $0.41 Diluted $0.34  $0.40 Non-GAAP net income from continuing operations per share attributable to common stockholders      Basic $0.59  $0.49 Diluted $0.58  $0.48 Shares used in GAAP and Non-GAAP per share calculations      Basic  94,055   103,095 Diluted  95,096   105,068 
Unaudited Reconciliation of GAAP Net Income from Continuing Operations to Non-GAAP Adjusted EBITDA from Continuing Operations and GAAP Net Income from Continuing Operations Margin to Non-GAAP Adjusted EBITDA from Continuing Operations Margin
(in thousands)

  Three Months Ended   March 31,   2026  2025 GAAP net income from continuing operations $32,228  $42,074 Depreciation and amortization  7,170   5,679 Stock-based compensation expense  13,272   12,383 Transaction-related expenses  —   2 Impairments  19,711   — Other income, net  (1,065)  (2,796)Provision for income taxes  8,916   11,376 Non-GAAP adjusted EBITDA from continuing operations $80,232  $68,718        GAAP net income from continuing operations margin  13%  20%Non-GAAP adjusted EBITDA from continuing operations margin  33%  32%
Unaudited Reconciliation of GAAP Expense from Continuing Operations to Non-GAAP Expense from Continuing Operations
(in thousands)

  Three Months Ended March 31, 2026   GAAP expense  Amortization of
intangible assets  Stock-based
compensation
expense  Transaction-related expenses  Impairments  Non-GAAP
expense Cost of revenue $18,934  $—  $(59) $—  $(510) $18,365 Sales and marketing  97,484   —   (2,931)  —   —   94,553 Product, technology, and development  37,671   —   (5,501)  —   —   32,170 General and administrative  26,481   —   (4,781)  —   —   21,700 Impairments  19,201   —   —   —   (19,201)  — Depreciation & amortization  3,705   (239)  —   —   —   3,466 Operating expenses from continuing operations(1) $184,542  $(239) $(13,213) $—  $(19,201) $151,889 Total cost of revenue and operating expenses from continuing operations $203,476  $(239) $(13,272) $—  $(19,711) $170,254                      Three Months Ended March 31, 2025   GAAP expense  Amortization of
intangible assets  Stock-based
compensation
expense  Transaction-related expenses  Impairments  Non-GAAP
expense Cost of revenue $14,343  $—  $(67) $—  $—  $14,276 Sales and marketing  83,669   —   (2,725)  —   —   80,944 Product, technology, and development  35,028   —   (5,502)  —   —   29,526 General and administrative  24,785   —   (4,089)  (2)  —   20,694 Impairments  —   —   —   —   —   — Depreciation & amortization  3,756   (230)  —   —   —   3,526 Operating expenses from continuing operations(1) $147,238  $(230) $(12,316) $(2) $—  $134,690 Total cost of revenue and operating expenses from continuing operations $161,581  $(230) $(12,383) $(2) $—  $148,966  (1)  Operating expenses include sales and marketing, product, technology, and development, general and administrative, impairments, and depreciation & amortization.

Unaudited Reconciliation of GAAP Net Cash, Cash Equivalents, and Restricted Cash Provided by Operating Activities to Non-GAAP Free Cash Flow
(in thousands)

  Three Months Ended   March 31,   2026  2025 GAAP net cash, cash equivalents, and restricted cash provided by operating activities $69,849  $67,879 Purchases of property and equipment  (391)  (2,240)Capitalization of website development costs  (6,301)  (5,391)Non-GAAP free cash flow $63,157  $60,248 
Non-GAAP Financial Measures and Other Business Metrics

To supplement our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the U.S. ("GAAP"), we provide investors with certain non-GAAP financial measures and other business metrics, which we believe are helpful to our investors. We use these non-GAAP financial measures and other business metrics for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures and other business metrics provide useful information about our operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to metrics used by our management in its financial and operational decision-making.

The presentation of non-GAAP financial information and other business metrics is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. While our non-GAAP financial measures and other business metrics are an important tool for financial and operational decision-making and for evaluating our own operating results over different periods of time, we urge investors to review the reconciliation of these financial measures to the comparable GAAP financial measures included above, and not to rely on any single financial measure to evaluate our business.

While a reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis because we are unable to accurately predict without unreasonable effort the exact amount or timing of certain reconciling items between such GAAP and non-GAAP financial measures, including, as applicable, depreciation expenses, amortization of intangible assets, non-intangible amortization, stock-based compensation, transaction-related expenses, impairments, and income tax effects, we have provided a reconciliation of non-GAAP financial measures and other business metrics to the nearest comparable GAAP measures in the accompanying financial statement tables included in this press release.

We monitor operating measures of certain non-GAAP items including non-GAAP gross profit from continuing operations, non-GAAP gross margin from continuing operations, non-GAAP expense from continuing operations, non-GAAP net income from continuing operations, and non-GAAP net income from continuing operations per share attributable to common stockholders. These non-GAAP financial measures exclude the effect of amortization of intangible assets, stock-based compensation expense, transaction related-expenses, and impairments. Non-GAAP net income from continuing operations and non-GAAP net income from continuing operations per share attributable to common stockholders also exclude certain income tax effects and adjustments. Our calculations of non-GAAP net income from continuing operations per share attributable to common stockholders utilize applicable GAAP share counts as included in the accompanying financial statement tables included in this press release. In addition, we evaluate our non-GAAP gross profit from continuing operations in relation to our revenue. We refer to this as non-GAAP gross profit from continuing operations margin and define it as non-GAAP gross profit from continuing operations divided by total revenue. We believe that these non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to metrics used by our management in its financial and operational decision-making.

We define non-GAAP Adjusted EBITDA from continuing operations as net income from continuing operations adjusted to exclude: depreciation and amortization, stock-based compensation expense, transaction-related expenses, impairments, other income, net, and provision for income taxes. In addition, we evaluate our non-GAAP Adjusted EBITDA from continuing operations in relation to our revenue. We refer to this as non-GAAP Adjusted EBITDA from continuing operations margin and define it as non-GAAP Adjusted EBITDA from continuing operations divided by total revenue.

We have presented non-GAAP Adjusted EBITDA from continuing operations and non-GAAP Adjusted EBITDA from continuing operations margin because they are key measures used by our management and Board of Directors to understand and evaluate our operating performance, generate future operating plans, and make strategic decisions regarding the allocation of capital. We believe non-GAAP Adjusted EBITDA from continuing operations helps identify underlying trends in our business that could otherwise be masked by the effect of the expenses that we exclude. Accordingly, we believe that non-GAAP Adjusted EBITDA from continuing operations provides useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by our management in its financial and operational decision making.

We define non-GAAP Free Cash Flow as cash flow from operations adjusted to include: purchases of property and equipment and capitalization of website development costs. We have presented non-GAAP Free Cash Flow because it is a measure of our financial performance that represents the cash that we are able to generate after expenditures required to maintain or expand our asset base.

We define a paying dealer as a dealer account with an active, paid subscription at the end of a defined period. The number of paying dealers we have is important to us and we believe it provides valuable information to investors because it is indicative of the value proposition of our products, as well as our sales and marketing success and opportunity, including our ability to retain paying dealers and develop new dealer relationships.

We define Quarterly Average Revenue per Subscribing Dealer (“QARSD”), which is measured at the end of a fiscal quarter, as the revenue primarily from subscription products during that trailing quarter divided by the average number of paying dealers during the quarter. We calculate the average number of paying dealers for a period by adding the number of paying dealers at the end of such period and the end of the prior period and dividing by two. This information is important to us, and we believe it provides useful information to investors, because we believe that our ability to grow QARSD is an indicator of the value proposition of our products and the return on investment that our paying dealers realize from our products. In addition, increases in QARSD, which we believe reflect the value of exposure to our engaged audience in relation to subscription cost, are driven in part by our ability to grow the volume of connections to our users and the quality of those connections, which result in increased opportunity to upsell package levels and cross-sell additional products to our paying dealers.

CarGurus (CARG - Free Report) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.04%. A quarter ago, it was expected that this online auto shopping platform would post earnings of $0.61 per share when it actually produced earnings of $0.63, delivering a surprise of +3.28%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

CarGurus, which belongs to the Zacks Internet - Commerce industry, posted revenues of $243.56 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.03%. This compares to year-ago revenues of $225.16 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

CarGurus shares have lost about 2.5% since the beginning of the year versus the S&P 500's gain of 7.6%.

What's Next for CarGurus?While CarGurus has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for CarGurus was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.59 on $249.35 million in revenues for the coming quarter and $2.49 on $1.01 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Commerce is currently in the bottom 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Retail-Wholesale sector, AutoZone (AZO - Free Report) , has yet to report results for the quarter ended May 2026. The results are expected to be released on May 26.

This auto parts retailer is expected to post quarterly earnings of $36.09 per share in its upcoming report, which represents a year-over-year change of +2.1%. The consensus EPS estimate for the quarter has been revised 0% higher over the last 30 days to the current level.

AutoZone's revenues are expected to be $4.86 billion, up 8.8% from the year-ago quarter.

CarGurus remains a deeply undervalued, high-margin, and stable growth play amid a crowded AI and semiconductor market. CARG's 15% revenue growth, expanding dealer base, and strong international momentum highlight resilient fundamentals despite a mixed Q1 and macro headwinds. Trading at 9.4x EV/FY26 adjusted EBITDA, CARG offers compelling value, reinforced by robust buybacks and a debt-free balance sheet.

May 11, 2026 16:05 ET  | Source: CarGurus, Inc.

BOSTON, May 11, 2026 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited automotive shopping site in the U.S.1, today announced that Jason Trevisan, Chief Executive Officer, is scheduled to participate in a fireside chat at the J.P. Morgan 2026 Global Technology, Media and Communications Conference on Monday, May 18, 2026, at 2:50 PM ET.

A webcast of the fireside chat will be accessible from the Investor Relations page of the company’s website at investors.cargurus.com beginning at the time indicated above, and an archive of the presentation will be available there for 30 days following the event.

About CarGurus, Inc.

CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.1 with the largest selection of inventory and network of dealers.2 CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company’s network of brands includes PistonHeads, the largest online motoring community in the U.K.3, and Autolist, a U.S.- based online marketplace.

To learn more about CarGurus, visit www.cargurus.com.

All other product names, trademarks, and registered trademarks are the property of their respective owners.

1 Similarweb: Traffic and Engagement Report (Cars.com, Autotrader.com, TrueCar.com, CARFAX.com Listings
(defined as CARFAX Total visits minus Vehicle History Reports)), Q1 2026, U.S.
2 Compared to Autotrader.com, Cars.com, TrueCar.com and CARFAX (Joreca as of March 31, 2026).
3 Similarweb: Traffic Insights, Q1 2026, U.K.

Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
[email protected]

Media Contact:
Maggie Meluzio
Director, Public Relations & External Communications
[email protected]

CarGurus NASDAQ: CARG Chief Executive Jason Trevisan said the company is accelerating product development across dealer and consumer offerings, with inventory tools, artificial intelligence and international expansion among the key areas of focus.

CarGurus, Inc. (CARG) Presents at Bank of America 2026 Global Technology Conference Transcript

Investors in CarGurus, Inc. (CARG - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the August 21, 2026 $28 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for CarGurus shares, but what is the fundamental picture for the company? Currently, CarGurus is a Zacks Rank #3 (Hold) in the Internet – Commerce industry that ranks in the Bottom 33% of our Zacks Industry Rank. Over the last 60 days, two analysts have increased their earnings estimates for the current quarter, while one has dropped the estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from 59 cents per share to 62 cents in that period.

Given the way analysts feel about CarGurus right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

Representative Josh Gottheimer (Democratic-New Jersey) recently sold shares of Crown Castle Inc. (NYSE: CCI). In a filing disclosed on April 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Crown Castle stock on March 24th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account. Representative Josh

PALO ALTO, Calif.--(BUSINESS WIRE)--Intapp, Inc., (NASDAQ: INTA), the leading governed AI platform for professional firms in highly regulated industries, will report fiscal third quarter 2026 financial results after the market close on May 5, 2026. On that day, management will host a webcast at 5 p.m. ET to discuss the company's business and financial results. Investors and other interested parties can access the webcast as follows: What: Intapp fiscal third quarter 2026 financial results earni.

PALO ALTO, Calif.--(BUSINESS WIRE)--Intapp, Inc. (NASDAQ: INTA), the leading governed AI platform for professional firms in highly regulated industries, announced financial results for its fiscal third quarter ended March 31, 2026. Intapp also provided its outlook for the fourth quarter and the full fiscal year 2026. “I am pleased to report solid third-quarter results, adding new clients in multiple sectors and expanding the product mix in others,” said John Hall, CEO of Intapp. “We also releas.

While the top- and bottom-line numbers for Intapp (INTA) give a sense of how the business performed in the quarter ended March 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

PALO ALTO, Calif.--(BUSINESS WIRE)--Intapp, Inc. (NASDAQ: INTA), the leading governed AI platform for professional firms in highly regulated industries, today announced that senior management will attend and present at the following upcoming investor conference:

J.P. Morgan 54th Annual Global Technology, Media and Communications Conference
Date: Tuesday, May 19, 2026
Location: Boston, Massachusetts
Presentation: 10:05am ET

A live webcast of the event and archived webcast will be accessible from the “events and presentations” section of the company’s investor relations website at https://investors.intapp.com/.

About Intapp

Intapp is the governed AI platform for professional firms in highly regulated industries. Intapp’s vertically tailored agentic solutions are built for the specialized workflows, complex relationship networks, and professional compliance requirements of accounting, consulting, investment banking, law, private capital, and real assets firms. By applying Firm AI to core processes and data, Intapp helps partners, dealmakers, and advisors drive firm growth, manage compliance, and improve profitability. Learn why the world's top firms trust Intapp’s industry-specific enterprise solutions at intapp.com.

More News From Intapp, Inc.

Intapp, Inc. (INTA) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript

Intapp NASDAQ: INTA executives said artificial intelligence is emerging as a demand driver for the company's professional-services software platform, particularly as large law firms, accounting firms, consulting firms, investment banks and private capital firms look for compliant ways to automate work.