Revenue for the quarter climbed 1% year-over-year to $179.9 million, aligning with the company's previous guidance. CEO Tobias Hartmann attributed the results to deliberate improvements in product and organizational processes, which pushed Marketplace revenue to its highest growth rate since 2021. The introduction of Dealer Verified Listings, designed to provide deeper inspection and pricing insights, served as a key driver for this expansion.
While the company saw a slight dip in total dealer count, Marketplace-specific subscribers grew for the fourth consecutive quarter. Operating expenses fell 7% to $152.1 million, reflecting broader efficiency efforts and cost-cutting measures implemented in April. Looking ahead, management reaffirmed its full-year 2026 outlook, projecting revenue growth of up to 2% and an Adjusted EBITDA margin between 29% and 30%. The company continues to prioritize capital returns, having repurchased $37 million in shares during the second quarter as part of a broader $90 million annual target.
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