Cars.com Q4 Revenue Rises 2% to $183.9M; FY Revenue Hits $723.2M Record
Cars.com delivered Q4 revenue of $183.9M, up 2% year-over-year, with subscription dealer revenue rising 3% to $164.4M while OEM revenue fell 9%. Full-year revenue reached a record $723.2M (+1%), generated $152M of operating cash, and supported $86M of share repurchases that reduced outstanding shares by 9%.
1. Fourth Quarter Financials
For Q4, revenue reached $183.9M, up 2% year-over-year, driven by subscription dealer revenue of $164.4M (+3%), while OEM revenue declined 9% to $16.2M. Net income was $7.4M, or $0.12 per share, down from $17.3M a year earlier, reflecting a $10.8M prior-year investment gain.
2. Full Year Results and Cashflow
Full-year revenue totaled $723.2M (+1%) with adjusted EBITDA of $211.1M (+1%), and net cash provided by operating activities reached $152M. Cars.com repurchased 7.1M shares for $86M, retiring 9% of its share count to enhance capital returns.
3. Dealer Metrics and Traffic Trends
Average monthly unique visitors declined 6% to 21.7M and total site visits fell 3% to 138.8M, while average monthly revenue per dealer held steady at $2,472. Dealer customers grew 2% to 19,544, marking sequential growth each quarter of 2025.
4. Strategic Initiatives and Outlook
Marketplace Premium+ subscriptions more than doubled quarter-over-quarter, AccuTrade Connected subscribers rose to 1,180 with appraisals up over 75% year-over-year, and nationwide Market Area Expansion launched in January. Management plans further AI-driven enhancements and cost efficiencies to drive adoption and profitability in 2026.