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CTV News
24 minutes ago
- CTV News
Anishinabek Police website wins 2 Dot Comm awards
Anishinabek Police Service's new website, launched July 15, won two Dot Comm platinum awards in policing and design. It was among only three Canadian sites honoured internationally.
Globe and Mail
an hour ago
- Globe and Mail
TrueCar (TRUE) Q2 Revenue Jumps 12%
Key Points GAAP revenue climbed 12.4% year-over-year in Q2 2025, beating expectations and marking TrueCar's best quarter since Q3 2021. GAAP earnings per share for Q2 2025 came in far below analyst forecasts, highlighting persistent profitability challenges. GAAP gross margin declined sharply to 76.3% in Q2 2025, while non-GAAP free cash flow remained negative at ($4.8 million) despite operational improvements. These 10 stocks could mint the next wave of millionaires › TrueCar (NASDAQ:TRUE), a digital automotive marketplace connecting car buyers with certified dealers, released its earnings report for the second quarter of fiscal 2025 on August 6, 2025. The most important takeaway was GAAP revenue was $47.0 million, exceeding analyst expectations by $2.35 million, but offset by a significant net loss and a severe miss on earnings per share; GAAP EPS was ($7.60), well below the estimated ($0.06). The period saw substantial progress in product innovation and customer experience, but ongoing margin pressure and cash burn tempered the positive headline numbers. Overall, the quarter delivered strong GAAP sales growth but did not meet expectations for profitability. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS (GAAP) ($7.60) ($0.06) N/A N/A Revenue (GAAP) $47.0 million $44.65 million $41.8 million 12.4% Net Loss ($7.6 million) ($13.5 million) 43.7% Adjusted EBITDA ($1.2 million) $0.1 million N/A Free Cash Flow ($4.8 million) ($3.6 million) (33.3%) Source: Analyst estimates for the quarter provided by FactSet. Business Overview and Recent Key Focus Areas TrueCar is known for its online platform that streamlines the car-buying process by helping consumers research, compare, and connect with certified auto dealers. The company leverages proprietary data and analytics to offer transparent vehicle pricing, digital purchasing options, and dealer connection features. In recent periods, TrueCar has prioritized expanding its end-to-end online retailing solution, TrueCar+, and investing in product innovation for both dealers and consumers. The rollout of new data-driven tools and automation features reflects TrueCar's emphasis on technological capability, efficiency, and adapting to regulatory requirements. Key success factors include sustained partnerships, expanding coverage of OEM incentive programs, and maintaining a robust affinity network of over 250 partners to drive high-value leads to dealer clients. Quarterly Highlights: Revenue Growth, Operational Trends, and Product Advances In the second quarter, GAAP revenue rose 12.4% year-over-year, outperforming analyst projections and delivering the highest quarterly result since Q3 2021. While monetization per unit increased to $526 (from $468 a year ago), a notable achievement, unique visitor traffic declined from 7.7 million to 5.5 million. This drop was partly due to a deliberate reduction in lower-intent marketing, with the stated aim of boosting quality and conversion efficiency. GAAP gross margin contracted from 86.9% in Q2 2024 to 76.3% in Q2 2025, reflecting increased spending on lower-margin products and higher expenses in scaling new initiatives. Non-GAAP adjusted EBITDA fell to ($1.2 million), compared to a slight gain in the previous year. Non-GAAP free cash flow remained negative, though improved sequentially, with a net outflow of ($4.8 million). Key product developments included enhancements to the dealer platform, such as the launch of 'Actionable Insights,' a tool offering data-driven recommendations to dealers for improved performance. Machine learning was applied via the new "Motivated Buyer" feature, flagging high-intent leads. On the consumer side, TrueCar revamped its search results and vehicle detail pages, making the digital shopping journey more transparent and intuitive, and piloted new features within TrueCar+ to boost user engagement and drive higher conversion rates. Connections with OEM partners remained strong, and incentive-driven programs contributed $2.9 million in revenue in the first half of 2025, already surpassing the $2.5 million received in all of 2024. However, some incentive programs were paused after exceeding budgets at the end of Q2 2025, which could result in revenue lumpiness in coming quarters. Industry data shows TrueCar's new vehicle unit sales grew 6.2% year-over-year in Q2 2025, outpacing the broader market's 2.8% growth and reflecting solid franchise dealer momentum despite ongoing contraction among independent dealer partners. Operational Metrics, Segment Trends, and Competitive Positioning Dealer revenue grew 12.1%, led by franchise dealer stability (up 1.1%) and exceptional gains from vehicle sourcing products (up 264.7%) in Q2 2025. OEM segment revenue increased 19.7% year-over-year. Despite stable new car segment results, overall dealer count dropped from 11,474 in Q2 2024 to 11,177 in Q2 2025, mainly due to headwinds among independent dealers. TrueCar's affinity partner channel—the network of large brands and organizations driving traffic to its platform—continued to deliver high-value leads, though certain OEM incentive programs were paused as a result of faster-than-expected budget use. Efficiency efforts were evident in a sharp 41.8% improvement in funnel conversion year-over-year in Q2 2025, with the average cost per sale on falling 29.9% year-over-year to $169. OpEx lines reflected a mixed picture: sales and marketing spending grew year-over-year but was flat from last quarter, while tech and G&A (general and administrative) expenses declined as cost controls deepened. GAAP gross profit in dollar terms slipped year-over-year despite higher revenue, a symptom of the lower-margin product mix and incremental growth costs. Management expects recent headcount reductions and sales and service team consolidation to yield about $500,000 a month in cost savings beginning in Q3 2025. TrueCar+—the company's digital retailing platform enabling fully online car-buying—remained a standout area of innovation. The integration of dealer management system (DMS) tools and a redesigned online checkout delivered significant metrics improvements in Q2 2025, including a 115% increase in add-to-cart rates, a 40% rise in daily credit application submissions, and a doubling of F&I (finance and insurance) product attachment rates. These signals point to improving customer engagement and growing traction with digital retailing as dealers and consumers continue shifting online. Some challenges remained evident. Unique visitor count dropped by 28.6% year-over-year, reflecting TrueCar's tighter focus on quality leads and conversion at the expense of traffic scale. Dealer sentiment, according to the Cox Automotive Dealer Sentiment Index, declined. Franchise dealers were less affected than independents, which aligns with the sharper decline in independent dealer participation. Inventory trends will bear continued attention as tariffs and affordability put new car supply and pricing under pressure in the second half of the year. Looking Ahead: Outlook and Considerations for Investors TrueCar's management did not issue formal financial guidance for the next quarter or for the remainder of fiscal 2025, citing persistent uncertainty in the automotive market related to tariffs, supply constraints, and evolving OEM incentive strategies. Although executives expressed confidence in the company's ability to navigate diverse growth scenarios, they declined to forecast specific revenue or profit targets. In management's words: 'we believe that the steps we have taken to eliminate costs and maximize our financial flexibility position us to navigate a range of revenue growth scenarios and deliver Adjusted EBITDA profitability and positive Free Cash Flow over the second half of 2025.' Key areas to watch in upcoming quarters include the continued rollout and scaling of TrueCar+, stabilization in unique visitor traffic and dealer count, further improvements in expense control, and potential swings in OEM-driven revenue streams. Persistent negative free cash flow and gross margin compression remain core risks, requiring progress toward sustainable profitability to support long-term competitive standing. TRUE does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025 JesterAI is a Foolish AI, based on a variety of Large Language Models (LLMs) and proprietary Motley Fool systems. All articles published by JesterAI are reviewed by our editorial team, and The Motley Fool takes ultimate responsibility for the content of this article. JesterAI cannot own stocks and so it has no positions in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Globe and Mail
an hour ago
- Globe and Mail
Pulmatrix (PULM) Q2 Revenue Falls 100%
Key Points GAAP revenue dropped to zero in Q2 2025, with no new product sales or clinical trial sponsorships. Net loss per share (GAAP) was $(0.42) in Q2 2025, reflecting significant spending cuts and a substantial reduction in R&D activity. Pulmatrix focused on finalizing its merger with Cullgen and pursuing asset divestitures; no forward financial guidance was provided. These 10 stocks could mint the next wave of millionaires › Pulmatrix (NASDAQ:PULM), a biotechnology company known for its dry powder inhalation delivery platform iSPERSE™, released its second quarter results on August 6, 2025, covering the quarter that ended June 30, 2025. Pulmatrix reported zero revenue for the period ended June 30, 2025. Net loss per share (GAAP) was $(0.42), compared to $(1.59) in Q2 2024. There were no Wall Street analyst estimates available this quarter, but the reported GAAP loss per share of $(0.42) represented a substantial narrowing from last year's GAAP result of $(1.59) in Q2 2024, mainly due to a near-total reduction in research and development spending. The quarter highlights Pulmatrix's strategic pivot: winding down its prior clinical business, trimming operational costs, conserving cash, and focusing on completing its merger with Cullgen. The company offered no forward guidance for upcoming quarters as it transitions operations. Business Overview and Recent Areas of Focus Pulmatrix's core business has centered on developing inhaled therapies using its proprietary iSPERSE™ technology—a dry powder drug delivery platform aimed at improving medication delivery to the lungs. This platform was designed to increase efficiency and tolerability in treatments compared to traditional inhalers or oral medications, positioning the company in the respiratory therapeutics space. Over the past year, Pulmatrix's strategic priorities have shifted dramatically. It has halted most clinical operations, halted R&D spending, and now seeks to divest its iSPERSE™ intellectual property and remaining clinical assets. The company's ongoing viability depends on successfully completing its pending merger with Cullgen and monetizing its assets or securing royalty streams from former drug candidates such as PUR1900. Key success factors now rest less on product development and more on the execution of these strategic transactions. Quarter Highlights: Operations, Finances, and Pipeline Progress The quarter reflected a sharp operational downsizing as Pulmatrix's GAAP revenue dropped from $1.6 million in Q2 2024 to zero. This change resulted from the completion of the wind-down of its PUR1900 clinical trial. Former sources of operating income, such as milestone payments or funding for joint studies, concluded, and there were no new business or sales streams to replace them during the period. Research and development expense (GAAP) decreased from $2,834,000 in Q2 2024 to $14,000, a 99.5% drop. This near-total reduction in research spending came as Pulmatrix finished closing its flagship clinical programs and terminated related staff. The company stated: 'The decrease was primarily due to winding down the PUR1900 Phase 2b clinical trial, disposal of the Company's lab and facilities lease and employee terminations.' Helped by layoffs and cuts, although these savings were partially offset by legal and advisory expenses linked to the merger process. Net loss and operating loss (GAAP) both narrowed substantially. The reduced losses were primarily due to a sharp decrease in R&D expenses. Net loss (GAAP) dropped to $(1.55) million from $(5.81) million in Q2 2024. The company avoided any unusual charges this quarter, whereas the prior period had included a significant loss from an asset transaction with MannKind. With its extreme cost containment, Pulmatrix exited the quarter with a GAAP cash and cash equivalents position of $5.8 million (down from $9.5 million at December 31, 2024), which management expects will fund operations until the Cullgen merger is finalized. This period also saw Pulmatrix focus on two main strategic moves apart from operational cuts: the attempted sale of its iSPERSE™ intellectual property and clinical programs, and its merger with Cullgen. The company openly stated, 'Pulmatrix is currently in a process to potentially divest its patent portfolio for our iSPERSE™ technology, as well as three related clinical programs.' These pipeline programs include PUR3100 for acute migraine (an orally inhaled dihydroergotamine engineered with iSPERSE™), PUR1800 for chronic obstructive pulmonary disease (a kinase inhibitor also using the iSPERSE™ platform), and PUR1900 (an inhaled formulation of an antifungal, developed with Cipla). Development or commercial responsibility for these candidates has ended or shifted to partners, and Pulmatrix itself has no ongoing clinical trials. Regulatory milestones from past years continued to carry some legacy value. For example, the Food and Drug Administration had accepted a Phase 2 study for PUR3100 and Pulmatrix's partner Cipla is moving forward with Phase 3 for PUR1900 in India. Pulmatrix may be eligible to receive a 2% royalty on possible future non-U.S. sales of PUR1900, but this would only occur if the product is successfully commercialized—a long-term and uncertain proposition. The most critical development during the second quarter was continued progress toward completing the merger with Cullgen, a protein degrader drug development company. Pulmatrix received stockholder approval and had its registration statement declared effective by the Securities and Exchange Commission. The merger remains contingent on regulatory approvals, including from the China Security Regulatory Commission and Nasdaq. Until the deal closes, Pulmatrix is in a holding pattern, and the company highlights that any delay or failure in closing poses significant risks to its ongoing viability. Looking Ahead: Guidance and Watchpoints Pulmatrix did not provide any financial guidance or operational outlook for the next quarter or upcoming year. No revenue or earnings forecast was offered by management in the latest earnings release. The company's leadership made clear that the near-term objective is to complete the planned merger and monetize or transfer its remaining assets. Because Pulmatrix is not currently developing or selling any medications, its short-term future is heavily dependent on successful asset divestitures and getting the Cullgen deal across the finish line. Investors and observers should monitor progress toward merger closing, potential updates on the sale of iSPERSE™-related patent portfolios, and any royalty developments with former pipeline candidates. PULM does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025
