TrueCar is still losing money, despite posting revenue growth of 7 percent in the fourth quarter of FY2017 to $81.1 million U.S. from $75.8 million U.S. on the prior comparative period (PCP).
Net losses increased 33.3 percent on the PCP to $9.1 million from $6.8 million, while earnings before interest, taxes, depreciation, and amortization (EBITDA) was $6 million.
There was some good news. Traffic to the site was up 6 percent to 7.8 million average monthly visitors. And “monetization” or average transactions per unit was up 3 percent on the PCP to $334.
“As you can see, we are making good progress across key initiatives we set forth,” Interim chief financial officer John Pierantoni (LinkedIn profile) told shareholders, “and we expect to exit 2018 with a strong double-digit top line growth rate.”
The company confirmed guidance of revenue to be in the range of $87 million and $89 million next quarter, with EBITDA in the range of $8 to $9 million.
Read the full financial report here.