Third Quarter 2022 Earnings
Operating Expenses
cars.com
fuel
Disciplined Management of Operating Expenses
Quarterly Expense ($MM)
$125
$116 $116
$111 $111
$113
$105
$105 $107
Drivers of Changes in Expense
$12.3 $12.5
$95
$12.7 $11.8
$12.3
$100
$10.9 $10.3 $11.6
$10.9
$75
$49.5 $51.9 $49.9
$50.6 $50.6
$55.8 $53.2
$52.5
$44.8
$50
$17.3
$14.5
$15.5
$17.6
$18.8 $19.7
$21.0
$20.1
$19.7
$25
$25.3
$26.9 $27.5
$28.0
$28.7 $29.0 $27.6 $29.2
$28.6
90
$0
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
General & Administrative
Marketing & Sales
Cost of Revenue/Operations
Product & Technology
QOQ decrease primarily the
result of lower marketing
investments due to strength in
audience
YOY increase primarily due to
recent acquisitions and
investment in growth
Note: We define Adjusted Operating Expenses as total operating expenses adjusted to exclude stock-based compensation, write-off and impairments of goodwill, intangible assets,
long-lived assets, severance, transformation and other exit costs and transaction-related items. Adjusted Operating Expenses in this graph exclude depreciation and amortization.
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