Cars reports first quarter 2022 results

Continued growth in revenue, dealer customers and arpd closed accu-trade group acquisition chicago , may 5, 2022 /prnewswire/ -- cars.com inc. (nyse: cars) ("cars" or the "company"), the leading automotive marketplace platform that provides a robust set of digital solutions, today released its financial results for the first quarter ended march 31, 2022. q1 2022 financial and key metric highlights revenue of $158.2 million, up $4.9 million, or 3% year-over-year net income of $4.3 million, or $0.06 per diluted share, compared to net income of $5.3 million, or $0.08 per diluted share, in the prior year adjusted ebitda of $42.0 million, or 27% of revenue, down $6.1 million, year-over-year average monthly unique visitors ("uvs") of 26.6 million, up 2% year-over-year traffic ("visits") of 148.5 million, down 5% year-over-year monthly average revenue per dealer ("arpd") of $2,291, up 1% from $2,268 in the prior year period dealer customers of 19,500 as of march 31, 2022, up 321 compared to 19,179 as of december 31, 2021, and up 677, or 4%, compared to march 31, 2021 operational highlights closed the acquisition of the accu-trade group, a leading vehicle appraisal and acquisition solution, further advancing the company's platform strategy and accelerating cars' end-to-end capabilities closed nearly 200 sales during the three-day national automobile dealers association show ("nada") demonstrated ev leadership with cars' ev buying guide and consumer live stream event, comprehensive resources for shoppers considering an electric vehicle for their next vehicle purchase "we are starting the year strong, delivering growth in revenue, dealer customers and arpd, despite continuing macro-economic challenges.
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