TrueCar (TRUE) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Aug. 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-36449
Entity Registrant Name	TRUECAR, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3807511
Entity Address, Address Line One	120 Broadway
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90401
City Area Code	800
Local Phone Number	200-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	TRUE
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		95,714,763
Entity Central Index Key	0001327318
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 267,073	$ 273,314
Accounts receivable, net of allowances of $5,789 and $7,147 at June 30, 2021 and December 31, 2020, respectively	22,835	32,923
Prepaid expenses	8,499	5,800
Other current assets	3,991	12,901
Total current assets	302,398	324,938
Property and equipment, net	19,456	21,421
Operating lease right-of-use assets	25,758	29,192
Goodwill	51,205	51,205
Intangible assets, net	5,775	6,600
Equity method investment	19,219	19,905
Other assets	4,723	4,800
Total assets	428,534	458,061
Current liabilities
Accounts payable (includes related party payables of $1,072 and $913 at June 30, 2021 and December 31, 2020, respectively)	16,397	13,198
Accrued employee expenses	5,358	6,506
Operating lease liabilities, current	4,971	4,771
Accrued expenses and other current liabilities	14,243	18,402
Total current liabilities	40,969	42,877
Deferred tax liabilities	90	40
Operating lease liabilities, net of current portion	29,223	31,974
Other liabilities	22	388
Total liabilities	70,304	75,279
Commitments and contingencies (Note 8)
Stockholders’ Equity
Preferred stock — $0.0001 par value; 20,000,000 shares authorized at June 30, 2021 and December 31, 2020; no shares issued and outstanding at June 30, 2021 and December 31, 2020	0	0
Common stock — $0.0001 par value; 1,000,000,000 shares authorized at June 30, 2021 and December 31, 2020; 97,613,457 and 99,690,942 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	10	10
Additional paid-in capital	729,439	738,290
Accumulated deficit	(371,219)	(355,518)
Total stockholders’ equity	358,230	382,782
Total liabilities and stockholders’ equity	$ 428,534	$ 458,061

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivables- current	$ 5,789	$ 7,147
Related party accounts payable- current	$ 1,072	$ 913
Preferred stock, par value ( in dollar per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, share issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	97,613,457	99,690,942
Common stock, shares outstanding (in shares)	97,613,457	99,690,942

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues	$ 65,766	$ 58,554	$ 130,871	$ 137,471
Costs and operating expenses:
Cost of revenue (exclusive of depreciation and amortization presented separately below)	5,746	5,564	11,204	11,739
Sales and marketing	37,476	33,032	77,575	79,112
Technology and development	10,780	12,800	21,973	24,699
General and administrative	13,853	12,849	26,531	24,937
Depreciation and amortization	4,591	5,175	8,903	10,204
Goodwill impairment	0	0	0	8,264
Total costs and operating expenses	72,446	69,420	146,186	158,955
Loss from operations	(6,680)	(10,866)	(15,315)	(21,484)
Interest income	13	61	28	439
Other income	42	0	667	0
Loss from equity method investment	(357)	(507)	(686)	(889)
Loss from continuing operations before income taxes	(6,982)	(11,312)	(15,306)	(21,934)
Provision for (benefit from) income taxes	133	62	227	(170)
Loss from continuing operations	(7,115)	(11,374)	(15,533)	(21,764)
(Loss) income from discontinued operations, net of taxes	(168)	132	(168)	(147)
Net loss	$ (7,283)	$ (11,242)	$ (15,701)	$ (21,911)
(Loss) income per share, basic and diluted
Continuing operations, basic (in dollars per share)	$ (0.07)	$ (0.11)	$ (0.16)	$ (0.20)
Continuing operations, diluted (in dollars per share)	(0.07)	(0.11)	(0.16)	(0.20)
Discontinuing operations, basic (in dollars per share)	0	0	0	0
Discontinuing operations, diluted (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding, basic (in shares)	98,810	107,535	98,696	107,279
Weighted average common shares outstanding, diluted (in shares)	98,810	107,535	98,696	107,279
Other comprehensive loss:
Comprehensive loss	$ (7,283)	$ (11,242)	$ (15,701)	$ (21,911)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock	APIC	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2019		106,865,830
Beginning balance at Dec. 31, 2019	$ 327,271	$ 11	$ 759,322	$ (432,062)
Increase (Decrease) in Stockholders' Equity
Net loss	(10,669)			(10,669)
Stock-based compensation	6,559		6,559
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		317,803
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes	(724)		(724)
Ending balance (in shares) at Mar. 31, 2020		107,183,633
Ending balance at Mar. 31, 2020	322,437	$ 11	765,157	(442,731)
Beginning balance (in shares) at Dec. 31, 2019		106,865,830
Beginning balance at Dec. 31, 2019	327,271	$ 11	759,322	(432,062)
Increase (Decrease) in Stockholders' Equity
Net loss	(21,911)
Ending balance (in shares) at Jun. 30, 2020		107,910,000
Ending balance at Jun. 30, 2020	317,194	$ 11	771,156	(453,973)
Beginning balance (in shares) at Mar. 31, 2020		107,183,633
Beginning balance at Mar. 31, 2020	322,437	$ 11	765,157	(442,731)
Increase (Decrease) in Stockholders' Equity
Net loss	(11,242)			(11,242)
Stock-based compensation	6,855		6,855
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		726,367
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes	(856)		(856)
Ending balance (in shares) at Jun. 30, 2020		107,910,000
Ending balance at Jun. 30, 2020	$ 317,194	$ 11	771,156	(453,973)
Beginning balance (in shares) at Dec. 31, 2020	99,690,942	99,690,942
Beginning balance at Dec. 31, 2020	$ 382,782	$ 10	738,290	(355,518)
Increase (Decrease) in Stockholders' Equity
Net loss	(8,418)			(8,418)
Repurchase of common stock (in shares)		(1,683,692)
Repurchase of common stock	(7,829)		(7,829)
Stock-based compensation	6,732		6,732
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		660,311
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes	(1,075)		(1,075)
Ending balance (in shares) at Mar. 31, 2021		98,667,561
Ending balance at Mar. 31, 2021	$ 372,192	$ 10	736,118	(363,936)
Beginning balance (in shares) at Dec. 31, 2020	99,690,942	99,690,942
Beginning balance at Dec. 31, 2020	$ 382,782	$ 10	738,290	(355,518)
Increase (Decrease) in Stockholders' Equity
Net loss	$ (15,701)
Ending balance (in shares) at Jun. 30, 2021	97,613,457	97,613,457
Ending balance at Jun. 30, 2021	$ 358,230	$ 10	729,439	(371,219)
Beginning balance (in shares) at Mar. 31, 2021		98,667,561
Beginning balance at Mar. 31, 2021	372,192	$ 10	736,118	(363,936)
Increase (Decrease) in Stockholders' Equity
Net loss	(7,283)			(7,283)
Repurchase of common stock (in shares)		(2,088,784)
Repurchase of common stock	(11,556)		(11,556)
Stock-based compensation	5,507		5,507
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		1,034,680
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes	$ (630)		(630)
Ending balance (in shares) at Jun. 30, 2021	97,613,457	97,613,457
Ending balance at Jun. 30, 2021	$ 358,230	$ 10	$ 729,439	$ (371,219)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Cash Flows [Abstract]
Net loss	$ (15,701)	$ (21,911)
Loss from discontinued operations, net of taxes	(168)	(147)
Net loss from continuing operations	(15,533)	(21,764)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	8,903	10,204
Goodwill impairment	0	8,264
Deferred income taxes	50	(397)
Bad debt expense and other reserves	468	3,485
Stock-based compensation	11,542	12,025
Increase in the fair value of contingent consideration liability	41	121
Amortization of lease right-of-use assets	2,142	3,002
Loss from equity method investment	686	889
Impairment of right-of-use assets and write-off and loss on disposal of finite-lived assets	1,666	41
Other noncash expense	219	0
Changes in operating assets and liabilities:
Accounts receivable	9,620	(1,428)
Prepaid expenses and other assets	(1,416)	(685)
Accounts payable	3,250	(11,300)
Accrued employee expenses	(1,171)	4,410
Operating lease liabilities	(2,551)	(3,705)
Accrued expenses and other liabilities	(2,394)	(8,468)
Other liabilities	(366)	905
Net cash provided by operating activities - continuing operations	15,156	(4,401)
Net cash provided by operating activities - discontinued operations	(168)	6,090
Net cash provided by operating activities	14,988	1,689
Cash flows from investing activities
Purchase of property and equipment	(5,410)	(5,568)
Net cash used in investing activities - continuing operations	(5,410)	(5,568)
Net cash provided by (used in) investing activities - discontinued operations	7,500	(726)
Net cash provided by (used in) investing activities	2,090	(6,294)
Cash flows from financing activities
Payment of contingent consideration liability	(2,214)	(2,263)
Proceeds from exercise of common stock options	1,344	3
Taxes paid related to net share settlement of equity awards	(3,049)	(1,583)
Payments for the repurchase of common stock	(19,400)	0
Net cash used in financing activities	(23,319)	(3,843)
Net increase in cash and cash equivalents	(6,241)	(8,448)
Cash and cash equivalents at beginning of period	273,314	181,534
Cash and cash equivalents at end of period	267,073	173,086
Supplemental disclosures of non-cash activities
Stock-based compensation capitalized for software development	697	700
Capitalized assets included in accounts payable, accrued employee expenses and other accrued expenses	850	410
Capitalized asset retirement costs included in property and equipment	$ 0	$ 498

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	Organization and Nature of Business TrueCar, Inc. is an Internet-based information, technology, and communication services company. Hereinafter, TrueCar, Inc. and its wholly owned subsidiaries TrueCar Dealer Solutions, Inc., DealerScience, LLC and ALG, Inc. (up to the disposition date of November 30, 2020) are collectively referred to as “TrueCar” or the “Company”; ALG, Inc. is referred to as “ALG,” TrueCar Dealer Solutions, Inc. is referred to as “TCDS” and DealerScience, LLC is referred to as “DealerScience.” TrueCar was incorporated in the state of Delaware in February 2005 and began business operations in April 2005. Its principal corporate offices are located in Santa Monica, California. TrueCar is a digital automotive marketplace that (i) provides pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience; (ii) empowers Certified Dealers to attract these informed, in-market consumers in a cost-effective, accountable manner; and (iii) allows automobile manufacturers (“OEMs”) to more effectively target their incentive spending at deep-in-market consumers during their purchase process. TrueCar has established a diverse software ecosystem on a common technology infrastructure, powered by proprietary data and analytics. Consumers access TrueCar’s platform through the TrueCar.com website and TrueCar mobile applications or through the car buying websites and mobile applications that TrueCar operates for its affinity group marketing partners (“Auto Buying Programs”). An affinity group is comprised of a network of members or employees that provides discounts to its members. Through its subsidiary TCDS, the Company provides its TrueCar Trade and Payments products. Our Trade solution gives consumers information on the value of their trade-in vehicles and enables them to obtain a guaranteed trade-in price before setting foot in the dealership. This valuation is, in turn, backed by a third-party guarantee to dealers that the vehicles will be repurchased at the indicated price if the dealer does not want to keep them. The Company’s Payments solution leverages the digital retailing technology of its DealerScience subsidiary, acquired in December 2018, to help consumers calculate accurate monthly payments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Article 10-1 of Regulation S-X. Accordingly, some information and footnote disclosures required by GAAP for complete financial statements have been condensed or omitted pursuant to such rules and regulations. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2020, and include all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the interim periods presented. As a result of the ALG divestiture as discussed in Note 3, the ALG business met the criteria to be reported as discontinued operations. Therefore, the Company is reporting the historical results of ALG, including the results of operations, cash flows, and related assets and liabilities, as discontinued operations for all periods presented herein through the date of disposition. Unless otherwise noted, the accompanying Notes to the Condensed Consolidated Financial Statements have all been revised to reflect continuing operations only. The condensed consolidated balance sheet at December 31, 2020 has been derived from the audited financial statements at that date, but does not include all of the disclosures required by GAAP. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Form 10-K filed with the SEC on March 5, 2021. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of TrueCar and its wholly owned subsidiaries. Business acquisitions are included in the Company’s condensed consolidated financial statements from the date of the acquisition. The Company’s purchase accounting resulted in all assets and liabilities of acquired businesses being recorded at their estimated fair values on the acquisition dates. Equity investments through which the Company is able to exercise significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities are accounted for using the equity method. The Company’s share of the income or loss from equity method investments is recognized on a one-quarter lag due to the timing and availability of financial information. Divestitures are included in the Company’s consolidated statements through the date of disposition. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Assets and liabilities that are subject to judgment and use of estimates include sales allowances and allowances for doubtful accounts, contract assets, the fair value of assets and liabilities assumed in business combinations, the fair value of equity method investments, the recoverability and related impairment of goodwill and long-lived assets, valuation allowances with respect to deferred tax assets, useful lives associated with property and equipment and intangible assets, right-of-use assets and operating lease liabilities, contingencies, and the valuation and assumptions underlying stock-based compensation and other equity instruments. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. In addition, the Company engaged valuation specialists to assist with management’s determination of the fair values of its single reporting unit related to goodwill impairment, right-of-use assets and lease liabilities, assets and liabilities assumed in business combinations, assets and liabilities of its equity method investment and performance-based stock units. Segments The Company has one operating segment. From January 1, 2021 through January 26, 2021, the Company’s chief operating decision maker (“CODM”) was solely comprised of the President and Chief Executive Officer who managed the Company’s operations based on consolidated financial information for purposes of evaluating financial performance and allocating resources. Upon the hiring of the Company’s Chief Financial Officer on January 27, 2021 and through June 30, 2021, the CODM was comprised of both the President and Chief Executive Officer and the Chief Financial Officer, who jointly managed the Company’s operations based on consolidated financial information for purposes of evaluating financial performance and allocating resources. The CODM reviews financial information on a consolidated basis, accompanied by information about dealer revenue, OEM incentive revenue, and other revenue (Note 13). All of the Company’s principal operations, decision-making functions and assets are located in the United States. Allowance for Doubtful Accounts The Company determines its allowance for doubtful accounts based on historical write-off experience and specific circumstances that make it likely that recovery will not occur. The Company reviews the allowance for doubtful accounts periodically and assesses the aging of account balances, with an emphasis on those that are past due over ninety days. Account balances are charged off against the allowance when the Company determines that it is probable the receivable will not be recovered. The Company considers the need to adjust historical information to reflect the extent to which the Company expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed for the period over which historical information was evaluated. The primary current and future economic indicators that the Company uses to develop its current estimate of expected credit losses include the current and forecast U.S. Gross Domestic Product (GDP). The Company calculates the expected credit losses on a pool basis for those trade receivables that have similar risk characteristics. For those trade receivables that do not share similar risk characteristics, the allowance for doubtful accounts is calculated on an individual basis. Risk characteristics relevant to the Company’s accounts receivable include revenue billing model and aging status. The following table summarizes the changes in the allowance for doubtful accounts and sales allowances (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Allowances, at beginning of period $ 6,149 $ 7,887 $ 7,147 $ 6,591 Charged as a reduction of revenue 1,287 2,959 2,566 5,357 Charged to bad debt expense in general and administrative expenses 236 1,260 468 3,485 Write-offs, net of recoveries (1,883) (1,802) (4,392) (5,129) Allowances, at end of period $ 5,789 $ 10,304 $ 5,789 $ 10,304 The Company’s assessment considered business and market disruptions caused by COVID-19 and estimates of expected emerging credit and collectability trends. The continued volatility in market conditions and evolving shifts in credit trends are difficult to predict causing variability and volatility that may have a material impact on our allowance for credit losses in future periods.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On November 30, 2020, the Company completed the sale of its 100% interest (the “Divestiture”) in ALG to J.D. Power for $112.5 million in cash (subject to customary working capital and other adjustments) pursuant to the Membership Interest Purchase Agreement, dated as of July 31, 2020 (the “Purchase Agreement”). The Purchase Agreement provides for J.D. Power to pay the Company (i) a potential cash earnout of up to $7.5 million based upon ALG’s achievement of certain revenue metrics in 2020 and (ii) a potential cash earnout of up to $15 million based upon ALG’s achievement of certain revenue metrics in 2022. The Company received cash proceeds of $111.5 million, net of working capital adjustments, and incurred transaction costs of approximately $1.9 million. As part of the Divestiture, the Company also received a five-year data license from J.D. Power for use of certain ALG data in the Company’s products and services. The Company recorded the fair value of the data license in the amount of $1.9 million. The carrying value of the data license is included in other current assets and other assets in the accompanying condensed consolidated balance sheets. The data license is being treated as additional consideration received and is being amortized on a straight-line basis over five years. The Company accounts for the future earnouts as gain contingencies and recognizes the contingent consideration associated with the Divestiture when the consideration is determined to be realizable. At December 31, 2020, the Company recorded a receivable of $7.5 million associated with the achievement of the first earnout based on certain 2020 revenue metrics. The Divestiture resulted in a pre-tax gain of $92.5 million for the year ended December 31, 2020. During the first quarter of 2021, the Company received cash payment of $7.5 million related to the first earnout and is reflected within investing activities of discontinued operations on the accompanying condensed consolidated statements of cash flows. The Divestiture represents a strategic shift in the Company’s business and meets the criteria of discontinued operations. As a result, the operating results and cash flows from ALG have been reflected as discontinued operations in the condensed consolidated statements of comprehensive loss and consolidated statements of cash flows for all periods presented. The following table presents the detail of “(Loss) income from discontinued operations, net of taxes” within the condensed consolidated statements of comprehensive loss (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenues $ — $ 4,131 $ — $ 8,740 Costs and operating expenses: Cost of revenue (exclusive of depreciation and amortization presented separately below) — 1,295 — 2,341 Sales and marketing — 444 — 939 Technology and development — 303 — 620 General and administrative 168 671 168 895 Depreciation and amortization — 1,250 — 2,492 Goodwill impairment — — — 1,923 Total costs and operating expenses 168 3,963 168 9,210 (Loss) income from operations (168) 168 (168) (470) Interest income — 11 — 166 (Loss) income from discontinued operations before income taxes (168) 179 (168) (304) Provision (benefit) from income taxes — 47 — (157) (Loss) income from discontinued operations, net of taxes $ (168) $ 132 $ (168) $ (147)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Accounting standards describe a fair value hierarchy based on the following three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets, liabilities, or funds. • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying amounts of cash equivalents, accounts receivable, prepaid and other current assets, accounts payable, and accrued expenses and other current liabilities approximate fair value because of the short maturity of these items. The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020 by level within the fair value hierarchy. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands): At June 30, 2021 At December 31, 2020 Total Fair Total Fair Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Value Assets: Cash equivalents $ 256,715 $ — $ — $ 256,715 $ 262,309 $ — $ — $ 262,309 Total assets $ 256,715 $ — $ — $ 256,715 $ 262,309 $ — $ — $ 262,309 Liabilities: Contingent consideration, current $ — $ — $ — $ — $ — $ — $ 2,459 $ 2,459 Total liabilities $ — $ — $ — $ — $ — $ — $ 2,459 $ 2,459 Contingent Consideration Obligations The following table summarizes the changes in the fair value of the contingent consideration obligation (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Fair value, beginning of period $ 2,490 $ 4,852 $ 2,459 $ 4,777 Cash payments (2,500) (2,500) (2,500) (2,500) Additions and changes in fair value 10 46 41 121 Fair value, end of period $ — $ 2,398 $ — $ 2,398

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GoodwillThe Company assesses recoverability of goodwill on an annual basis or when events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable, such as a decline in stock price and market capitalization. Throughout the second half of 2019 and through the first quarter of 2020, the Company’s stock price experienced high volatility, causing a decline in its enterprise market capitalization. During the first quarter of 2020, as a result of the global economic disruption and uncertainty due to the COVID-19 pandemic, along with the Company’s announcement that it had entered into a short-term agreement to extend its partnership with USAA Federal Savings Bank to continue to power the USAA Car Buying Service through September 30, 2020, the Company concluded a triggering event had occurred. In light of these two factors, the Company performed an interim quantitative impairment test as of March 31, 2020, in which the Company estimated the fair value of its single reporting unit by utilizing an income approach which uses a discounted cash flow (“DCF”) analysis. The Company has previously used an implied market value approach. Given the high degree of market volatility and lack of reliable market data as of March 31, 2020, the Company determined that a discounted cash flow model (income approach) provided the best approximation of fair value. Determining fair value requires the exercise of significant assumptions and judgments, which are considered Level 3 inputs under the fair value hierarchy, including the amount and timing of expected future cash flows, long-term growth rates and the discount rate. Based on the results of the interim impairment test, the Company concluded that the carrying value of its reporting unit was greater than the fair value and, accordingly, recognized a non-cash impairment charge of $10.2 million during the three months ended March 31, 2020, of which $1.9 million was included in discontinued operations. If the pandemic’s economic impact is more severe, or if the economic recovery takes longer to materialize or does not materialize as strongly as anticipated, this could result in further goodwill impairment charges.

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment consisted of the following at June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Computer equipment, software, and internally developed software $ 71,771 $ 66,198 Furniture and fixtures 3,803 4,610 Leasehold improvements 15,632 15,727 91,206 86,535 Less: Accumulated depreciation (71,750) (65,114) Total property and equipment, net $ 19,456 $ 21,421 Included in the table above are property and equipment of $1.1 million and $0.9 million at June 30, 2021 and December 31, 2020, respectively, which are capitalizable but had not yet been placed in service. These balances were comprised primarily of capitalized software not ready for its intended use. Total depreciation and amortization expense of property and equipment was $4.2 million and $4.6 million for the three months ended June 30, 2021 and 2020, respectively. Total depreciation and amortization expense of property and equipment was $8.1 million and $9.0 million for the six months ended June 30, 2021 and 2020, respectively. Amortization of internal use capitalized software development costs was $3.1 million and $3.3 million for the three months ended June 30, 2021 and 2020, respectively. Amortization of internal use capitalized software development costs was $6.3 million and $6.4 million for the six months ended June 30, 2021 and 2020, respectively. During the six months ended June 30, 2021, the Company disposed of or retired certain fully depreciated computer equipment, software, and internally developed software with an original cost basis of $0.9 million.

Credit Facility

Credit Facility	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Credit Facility	Credit Facility February 2018 Amended Credit Facility The Company is party to a third amended and restated loan and security agreement (as amended from time to time, the “Third Amended Credit Facility”) with a financial institution that provides for advances under a $35.0 million revolving line of credit. In February 2018, the Company entered into a first amendment to the Third Amended Credit Facility that, among other things, extended the expiration from February 18, 2018 to February 18, 2021. In December 2018, the Company entered into a second amendment to the Third Amended Credit Facility to make certain other revisions that did not alter the borrowing amounts, interest rates, or required ratios. In February 2021, the Company entered into a third amendment to the Third Amended Credit Facility to extend the expiration date to April 19, 2021 that did not alter the borrowing amounts, interest rates, or required ratios. The Third Amended Credit Facility provided a $10.0 million subfacility for the issuance of letters of credit and contained an increase option permitting the Company, subject to the lender’s consent, to increase the revolving credit facility by up to $15.0 million, to an aggregate maximum of $50.0 million. April 2021 Amendment to Credit Facility In April 2021, the Company entered into a fourth amendment to the Third Amended Credit Facility (the “Credit Facility”). The Credit Facility extends the maturity date to April 12, 2024. Similar to the third amended and restated loan and security agreement, the Credit Facility provides for advances under a $35.0 million revolving line of credit. The Credit Facility also provides for a $10.0 million subfacility for the issuance of letters of credit and contains an increase option permitting the Company, subject to the lender’s consent, to increase the revolving credit facility by up to $15.0 million to an aggregate maximum of $50.0 million. The Credit Facility bears interest, at the Company’s option, at either (i) the prime rate published by The Wall Street Journal, plus a spread of -0.25% to 0.25%, or (ii) a LIBOR rate determined in accordance with the terms of the Credit Facility, plus a spread of 1.75% to 2.25%. In each case, the spread is based on the Company’s adjusted quick ratio, which is a ratio of the Company’s cash and cash equivalents plus net billed accounts receivable to current liabilities, excluding operating lease obligations, plus all obligations and liabilities to the financial institution including issued and outstanding letters of credit. Interest is due and payable quarterly in arrears for prime rate loans and on the earlier of the last day of each quarter or the end of an interest period for LIBOR rate loans. The Company is also obligated to pay an unused revolving line facility fee of 0.00% to 0.15% per annum based on the Company’s adjusted quick ratio. The Credit Facility requires the Company to maintain an adjusted quick ratio of at least 1.25 to 1.00 on the last day of each quarter. The Credit Facility also limits the Company’s ability to pay dividends. The Company’s future material domestic subsidiaries are required, upon the lender’s request, to become co-borrowers under the Credit Facility. Additionally, the Credit Facility contains acceleration clauses that accelerate any borrowings in the event of default. The Company’s obligations and those of its future material domestic subsidiaries are collateralized by substantially all of their respective assets, subject to certain exceptions and limitations. At June 30, 2021, the Company had no outstanding amounts under the Credit Facility and the amount available was $32.2 million, reduced for the letters of credit issued and outstanding under the subfacility of $2.8 million.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Reorganization In May 2020, the Company committed to a restructuring plan (the “Restructuring Plan”) in furtherance of its efforts to enhance productivity and efficiency, preserve profitability and streamline its organizational structure to better align operations with its long-term commitment to providing an enhanced consumer experience. The majority of the restructuring costs liability was paid during the year ended December 31, 2020 with the remainder expected to be paid in 2021. The Company does not expect to incur significant additional charges in future periods related to the Restructuring Plan. The following table presents a roll forward of the restructuring costs liability for the six months ended June 30, 2021 (in thousands): Restructuring Costs Liability Accrual at December 31, 2020 $ 381 Cash Payments — Accrual at June 30, 2021 $ 381 Legal Proceedings From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. When the Company becomes aware of a claim or potential claim, it assesses the likelihood of any loss or exposure. In accordance with authoritative guidance, the Company records loss contingencies in its financial statements only for matters in which losses are probable and can be reasonably estimated. Where a range of loss can be reasonably estimated with no best estimate in the range, the Company records the minimum estimated liability. If the loss is not probable or the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the specific claim if the likelihood of a potential loss is reasonably possible and the amount involved is material. The Company continuously assesses the potential liability related to the Company’s pending litigation and revises its estimates when additional information becomes available. The Company is not currently a party to any material legal proceedings, other than as described below. Stockholder Litigation Milbeck Federal Securities Litigation In March 2018, Leon Milbeck filed a putative securities class action complaint against the Company in the U.S. District Court for the Central District of California (the “Milbeck Federal Securities Litigation”). On June 27, 2018, the court appointed the Oklahoma Police Pension and Retirement Fund as lead plaintiff, who filed an amended complaint on August 24, 2018. The amended complaint sought an award of unspecified damages, interest, attorney’s fees and equitable relief based on allegations that the defendants made false or misleading statements about our business, operations, prospects and performance during a purported class period of February 16, 2017 through November 6, 2017 in violation of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder, and that the defendants made actionable misstatements in violation of Section 11 of the Securities Act in connection with the Company’s secondary offering that occurred during the class period. The amended complaint named the Company, certain of its then-current and former officers and directors and the underwriters for its secondary offering as defendants. On October 31, 2018, the lead plaintiff dismissed the underwriters from the litigation “without prejudice,” meaning that they could be reinstated as defendants at a later time. On August 2, 2019, the parties entered into an agreement to settle the Milbeck Federal Securities Litigation on a class-wide basis for $28.25 million, all of which was paid by the Company’s directors’ and officers’ liability insurance, pursuant to which the court dismissed the case on May 26, 2020. As a result, the Milbeck Federal Securities Litigation is currently resolved. Delaware Consolidated Derivative Litigation In August 2019, three purported stockholder derivative actions were filed in Delaware alleging a variety of claims nominally on the Company’s behalf arising out of alleged breaches of fiduciary duty under Delaware law based upon substantially the same factual allegations as the Milbeck Federal Securities Litigation. The complaints named the Company, certain of its then-current and former directors and officers, USAA and, in one of the actions, certain entities affiliated with USAA and certain of our current and former directors as defendants. On October 7, 2019, the Delaware Court of Chancery consolidated the cases into a single action in that court bearing the caption In re TrueCar, Inc. Stockholder Derivative Litigation (the “Delaware Consolidated Derivative Litigation”). On November 6, 2019, the plaintiffs filed a consolidated complaint against all of the defendants named in the prior actions, asserting claims for breach of fiduciary duty, unjust enrichment, contribution and indemnification against the Company’s current and former officers and directors, and claims for aiding and abetting breaches of fiduciary duty against the entities affiliated with USAA and with certain of the Company’s current and former directors. The plaintiffs sought an award of damages against the defendants on behalf of the Company and various alleged corporate governance reforms. On December 19, 2019, the defendants filed motions to dismiss for failure to make a pre-suit demand. On September 30, 2020, the court dismissed the Delaware Consolidated Derivative Litigation with prejudice for failure to make a pre-suit demand and failure to state a claim and the plaintiffs did not appeal the ruling. As a result, the Delaware Consolidated Derivative Litigation is resolved. Following the court’s decision, the plaintiffs sent a letter to the Company demanding that it pursue claims against certain current and former officers for various alleged breaches of their fiduciary duties, based substantially on the same factual allegations as the Milbeck Federal Securities Litigation. On November 18, 2020, the Company’s Board of Directors (the “Board”) established a special committee of the Board (the “Special Committee”) to investigate the claims contained in the Delaware Consolidated Derivative Litigation, the Lee Derivative Litigation and other related stockholder demands. The Company has not recorded an accrual related to this matter as of June 30, 2021 as the Company does not believe a loss is probable or reasonably estimable. Lee Derivative Litigation In December 2019, Sulgi Lee, a purported stockholder, filed a derivative action in the Delaware Court of Chancery (the “Lee Derivative Litigation”) alleging a variety of claims nominally on the Company’s behalf arising out of alleged breaches of fiduciary duty under Delaware law based upon substantially the same factual allegations as the Milbeck Federal Securities Litigation. The complaint named the Company, certain of its then-current and former directors and officers and USAA as defendants. The plaintiff seeks an award of damages against the defendants on the Company’s behalf and various alleged corporate governance reforms. On May 5, 2020, the court entered the parties’ stipulation to stay this litigation pending the outcome of the motions to dismiss in the Delaware Consolidated Derivative Litigation. Following the dismissal of the Delaware Consolidated Derivative Litigation, on December 22, 2020, the court entered the parties’ further stipulation to stay the Lee Derivative Litigation pending the outcome of the Special Committee’s investigation. The Company believes that the complaint is without merit, and should the litigation proceed, the Company intends to vigorously defend itself in this matter. The Company has not recorded an accrual related to this matter as of June 30, 2021 as the Company does not believe a loss is probable or reasonably estimable. Trademark Litigation On April 9, 2020, the Company was named as a defendant in a lawsuit filed by Six Star, Inc. (“Six Star”) in the U.S. District Court for the Middle District of Florida (the “Trademark Litigation”). The complaint in the Trademark Litigation alleged that the Company’s new “BUY SMARTER DRIVE HAPPIER” tagline infringed and diluted Six Star’s “BUY SMART BE HAPPY” trademark and included claims of false advertising and deceptive and unfair trade practices. The complaint sought injunctive relief in addition to certain monetary awards. On June 25, 2021, the parties entered into a settlement agreement pursuant to which the parties agreed to dismiss the Trademark Litigation in exchange for the Company agreeing not to use Six Star’s “BUY SMART BE HAPPY” trademark and to only use its own trademark in conjunction with the word “TrueCar.” The settlement agreement did not provide for either party to pay the other any amounts. On June 28, 2021, the court dismissed the Trademark Litigation pursuant to the settlement agreement. As a result, the Trademark Litigation is currently resolved. Employment Contracts The Company has entered into employment contracts with certain executives of the Company. Employment under these contracts is at-will employment. However, under the provisions of the contracts, the Company would incur severance obligations of up to twelve months of the executive’s annual base salary for certain events such as involuntary terminations. Indemnifications

Stock-based Awards

Stock-based Awards	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Awards	Stock-based Awards Stock Options A summary of the Company’s stock option activity for the six months ended June 30, 2021 is as follows: Number of Weighted-Average Exercise Price Weighted-Average (in years) Outstanding at December 31, 2020 10,009,282 $ 9.58 5.1 Granted 768,354 5.04 Exercised (387,052) 3.47 Forfeited/expired (1,078,734) 8.34 Outstanding at June 30, 2021 9,311,850 $ 9.60 4.4 At June 30, 2021, total remaining stock-based compensation expense for unvested stock option awards was $5.2 million, which is expected to be recognized over a weighted-average period of 2.9 years. For the three months ended June 30, 2021 and 2020, the Company recorded stock-based compensation expense for stock option awards of $1.0 million and $1.4 million, respectively. For the six months ended June 30, 2021 and 2020, the Company recorded stock-based compensation expense for stock option awards of $2.6 million and $3.0 million, respectively. Restricted Stock Units Activity in connection with restricted stock units is as follows for the six months ended June 30, 2021: Number of Weighted- Average Grant Date Fair Value Non-vested — December 31, 2020 6,918,474 $ 4.63 Granted 5,007,558 4.81 Vested (1,911,185) 4.78 Forfeited (1,441,562) 4.55 Non-vested — June 30, 2021 8,573,285 $ 4.71 At June 30, 2021, total remaining stock-based compensation expense for non-vested restricted stock units was $37.0 million, which is expected to be recognized over a weighted-average period of 2.8 years. For the three months ended June 30, 2021 and 2020, the Company recorded $4.2 million and $4.8 million in stock-based compensation expense for restricted stock units, respectively. For the six months ended June 30, 2021 and 2020, the Company recorded stock-based compensation expense for restricted stock units of $8.9 million and $9.1 million, respectively. Stock-based Compensation Cost The Company recorded stock-based compensation cost relating to stock options and restricted stock units in the following categories on the accompanying condensed consolidated statements of comprehensive loss (in thousands): Three Months Ended Six Months Ended June 30, 2021 2020 2021 2020 Cost of revenue $ 66 $ 42 $ 137 $ 355 Sales and marketing 1,512 2,279 4,471 4,440 Technology and development 1,159 1,320 2,347 2,545 General and administrative 2,420 2,470 4,587 4,685 Total stock-based compensation expense 5,157 6,111 11,542 12,025 Amount capitalized to internal software use 350 355 697 700 Total stock-based compensation cost $ 5,507 $ 6,466 $ 12,239 $ 12,725

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date loss. The Company’s annual estimated effective tax rate differs from the statutory rate primarily as a result of state taxes, tax amortization of goodwill and changes in the Company’s valuation allowance. The Company recorded income tax expense of $0.1 million for the three months ended June 30, 2021 and 2020. For the six months ended June 30, 2021 and 2020, the Company recorded income tax expense of $0.2 million and an income tax benefit of $0.2 million, respectively. For the three months ended June 30, 2021 and 2020 and six months ended June 30, 2021, the Company’s provision for income taxes primarily reflects tax expense associated with state income taxes and the amortization of tax-deductible goodwill that is not an available source of income to realize deferred tax assets. For the six months ended June 30, 2020, the tax benefit primarily arose in connection with the impairment of goodwill during the first quarter of 2020, resulting in the reduction of indefinite-lived deferred tax liabilities. There were no material changes to the Company’s unrecognized tax benefits in the six months ended June 30, 2021, and the Company does not expect to have any significant changes to unrecognized tax benefits through the end of the fiscal year. Due to the presence of net operating loss (“NOL”) carryforwards, all income tax years remain open for examination by the IRS and various state taxing authorities. The Internal Revenue Code of 1986, as amended (the “IRC”), imposes substantial restrictions on the utilization of net operating losses and other tax attributes in the event of an “ownership change” of a corporation. Accordingly, a company’s ability to use pre-change net operating loss and research tax credits may be limited as prescribed under IRC Sections 382 and

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net (Loss) Per Share The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data): Three Months Ended Six Months Ended 2021 2020 2021 2020 Net loss $ (7,283) $ (11,242) $ (15,701) $ (21,911) Loss from continuing operations $ (7,115) $ (11,374) $ (15,533) $ (21,764) (Loss) income from discontinued operations, net of taxes $ (168) $ 132 $ (168) $ (147) Weighted-average common shares outstanding, basic and diluted 98,810 107,535 98,696 107,279 (Loss) income per share, basic and diluted Continuing operations $ (0.07) $ (0.11) $ (0.16) $ (0.20) Discontinued operations $ 0.00 $ 0.00 $ 0.00 $ 0.00 The following table presents the number of anti-dilutive shares excluded from the calculation of diluted loss per share at June 30, 2021 and 2020 (in thousands): June 30, 2021 2020 Options to purchase common stock 9,312 10,740 Common stock warrants 510 1,459 Non-vested restricted stock unit awards 8,573 8,606 Total shares excluded from net loss per share 18,395 20,805 Share Repurchase Program

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions with USAA USAA is a large stockholder in the Company and was the Company’s most significant affinity marketing partner. At the time that the Company entered into arrangements with USAA to operate its Auto Buying Program, USAA met the definition of a related party. In February 2020, the Company entered into a short-term agreement to extend its partnership with USAA Federal Savings Bank (“USAA FSB”) to continue to power the USAA Car Buying Service through September 30, 2020. USAA FSB paid the Company a $20 million transition services fee that was earned over the term of the agreement. Revenue share from USAA FSB to the Company remained the same as it was under the previous agreement except that amounts earned after March 1, 2020 were settled net of the transaction service fee. For the three and six months ended months ended June 30, 2020, the Company recognized revenue of $3.9 million and $5.6 million, respectively. For the six months ended June 30, 2020, the Company recorded sales and marketing expense of $2.0 million related to service arrangements entered into with USAA. The Company did not record any sales and marketing expense for the three months ended June 30, 2020 as revenue share due USAA FSB was settled net of the transaction service fee earned. At June 30, 2021 and December 31, 2020 the Company had no amounts due to or from USAA. Transactions with Accu-Trade

Revenue Information

Revenue Information	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Information	Revenue Information Disaggregation of Revenue The Company disaggregates revenue into three revenue streams: dealer revenue, OEM incentives revenue, and other revenue. The following table presents the Company’s revenue categories during the periods presented (in thousands): Three Months Ended Six Months Ended June 30, 2021 2020 2021 2020 Dealer revenue $ 62,670 $ 50,049 $ 124,727 $ 123,847 OEM incentives revenue 2,768 4,771 5,565 8,294 Other revenue 328 3,734 579 5,330 Total revenues $ 65,766 $ 58,554 $ 130,871 $ 137,471 Contract Balances

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of Presentation The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Article 10-1 of Regulation S-X. Accordingly, some information and footnote disclosures required by GAAP for complete financial statements have been condensed or omitted pursuant to such rules and regulations. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2020, and include all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the interim periods presented. As a result of the ALG divestiture as discussed in Note 3, the ALG business met the criteria to be reported as discontinued operations. Therefore, the Company is reporting the historical results of ALG, including the results of operations, cash flows, and related assets and liabilities, as discontinued operations for all periods presented herein through the date of disposition. Unless otherwise noted, the accompanying Notes to the Condensed Consolidated Financial Statements have all been revised to reflect continuing operations only.
Principles of consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of TrueCar and its wholly owned subsidiaries. Business acquisitions are included in the Company’s condensed consolidated financial statements from the date of the acquisition. The Company’s purchase accounting resulted in all assets and liabilities of acquired businesses being recorded at their estimated fair values on the acquisition dates. Equity investments through which the Company is able to exercise significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities are accounted for using the equity method. The Company’s share of the income or loss from equity method investments is recognized on a one-quarter lag due to the timing and availability of financial information. Divestitures are included in the Company’s consolidated statements through the date of disposition. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Assets and liabilities that are subject to judgment and use of estimates include sales allowances and allowances for doubtful accounts, contract assets, the fair value of assets and liabilities assumed in business combinations, the fair value of equity method investments, the recoverability and related impairment of goodwill and long-lived assets, valuation allowances with respect to deferred tax assets, useful lives associated with property and equipment and intangible assets, right-of-use assets and operating lease liabilities, contingencies, and the valuation and assumptions underlying stock-based compensation and other equity instruments. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. In addition, the Company engaged valuation specialists to assist with management’s determination of the fair values of its single reporting unit related to goodwill impairment, right-of-use assets and lease liabilities, assets and liabilities assumed in business combinations, assets and liabilities of its equity method investment and performance-based stock units.
Segments	Segments The Company has one operating segment. From January 1, 2021 through January 26, 2021, the Company’s chief operating decision maker (“CODM”) was solely comprised of the President and Chief Executive Officer who managed the Company’s operations based on consolidated financial information for purposes of evaluating financial performance and allocating resources. Upon the hiring of the Company’s Chief Financial Officer on January 27, 2021 and through June 30, 2021, the CODM was comprised of both the President and Chief Executive Officer and the Chief Financial Officer, who jointly managed the Company’s operations based on consolidated financial information for purposes of evaluating financial performance and allocating resources. The CODM reviews financial information on a consolidated basis, accompanied by information about dealer revenue, OEM incentive revenue, and other revenue (Note 13). All of the Company’s principal operations, decision-making functions and assets are located in the United States.
Allowance for doubtful accounts	Allowance for Doubtful Accounts The Company determines its allowance for doubtful accounts based on historical write-off experience and specific circumstances that make it likely that recovery will not occur. The Company reviews the allowance for doubtful accounts periodically and assesses the aging of account balances, with an emphasis on those that are past due over ninety days. Account balances are charged off against the allowance when the Company determines that it is probable the receivable will not be recovered. The Company considers the need to adjust historical information to reflect the extent to which the Company expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed for the period over which historical information was evaluated. The primary current and future economic indicators that the Company uses to develop its current estimate of expected credit losses include the current and forecast U.S. Gross Domestic Product (GDP). The Company calculates the expected credit losses on a pool basis for those trade receivables that have similar risk characteristics. For those trade receivables that do not share similar risk characteristics, the allowance for doubtful accounts is calculated on an individual basis. Risk characteristics relevant to the Company’s accounts receivable include revenue billing model and aging status.
Fair value measurements	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Accounting standards describe a fair value hierarchy based on the following three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets, liabilities, or funds. • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying amounts of cash equivalents, accounts receivable, prepaid and other current assets, accounts payable, and accrued expenses and other current liabilities approximate fair value because of the short maturity of these items.
Goodwill	The Company assesses recoverability of goodwill on an annual basis or when events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable, such as a decline in stock price and market capitalization.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of changes in the allowance for doubtful accounts and sales allowances	The following table summarizes the changes in the allowance for doubtful accounts and sales allowances (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Allowances, at beginning of period $ 6,149 $ 7,887 $ 7,147 $ 6,591 Charged as a reduction of revenue 1,287 2,959 2,566 5,357 Charged to bad debt expense in general and administrative expenses 236 1,260 468 3,485 Write-offs, net of recoveries (1,883) (1,802) (4,392) (5,129) Allowances, at end of period $ 5,789 $ 10,304 $ 5,789 $ 10,304

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents the detail of “(Loss) income from discontinued operations, net of taxes” within the condensed consolidated statements of comprehensive loss (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenues $ — $ 4,131 $ — $ 8,740 Costs and operating expenses: Cost of revenue (exclusive of depreciation and amortization presented separately below) — 1,295 — 2,341 Sales and marketing — 444 — 939 Technology and development — 303 — 620 General and administrative 168 671 168 895 Depreciation and amortization — 1,250 — 2,492 Goodwill impairment — — — 1,923 Total costs and operating expenses 168 3,963 168 9,210 (Loss) income from operations (168) 168 (168) (470) Interest income — 11 — 166 (Loss) income from discontinued operations before income taxes (168) 179 (168) (304) Provision (benefit) from income taxes — 47 — (157) (Loss) income from discontinued operations, net of taxes $ (168) $ 132 $ (168) $ (147)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Summary of financial assets measured at fair value on a recurring basis	The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020 by level within the fair value hierarchy. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands): At June 30, 2021 At December 31, 2020 Total Fair Total Fair Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Value Assets: Cash equivalents $ 256,715 $ — $ — $ 256,715 $ 262,309 $ — $ — $ 262,309 Total assets $ 256,715 $ — $ — $ 256,715 $ 262,309 $ — $ — $ 262,309 Liabilities: Contingent consideration, current $ — $ — $ — $ — $ — $ — $ 2,459 $ 2,459 Total liabilities $ — $ — $ — $ — $ — $ — $ 2,459 $ 2,459
Schedule of changes in fair value of contingent consideration obligation	The following table summarizes the changes in the fair value of the contingent consideration obligation (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Fair value, beginning of period $ 2,490 $ 4,852 $ 2,459 $ 4,777 Cash payments (2,500) (2,500) (2,500) (2,500) Additions and changes in fair value 10 46 41 121 Fair value, end of period $ — $ 2,398 $ — $ 2,398

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consisted of the following at June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Computer equipment, software, and internally developed software $ 71,771 $ 66,198 Furniture and fixtures 3,803 4,610 Leasehold improvements 15,632 15,727 91,206 86,535 Less: Accumulated depreciation (71,750) (65,114) Total property and equipment, net $ 19,456 $ 21,421

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of roll forward of severance liability	The following table presents a roll forward of the restructuring costs liability for the six months ended June 30, 2021 (in thousands): Restructuring Costs Liability Accrual at December 31, 2020 $ 381 Cash Payments — Accrual at June 30, 2021 $ 381

Stock-based Awards (Tables)

Stock-based Awards (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of stock option activity	A summary of the Company’s stock option activity for the six months ended June 30, 2021 is as follows: Number of Weighted-Average Exercise Price Weighted-Average (in years) Outstanding at December 31, 2020 10,009,282 $ 9.58 5.1 Granted 768,354 5.04 Exercised (387,052) 3.47 Forfeited/expired (1,078,734) 8.34 Outstanding at June 30, 2021 9,311,850 $ 9.60 4.4
Schedule of activity in connection with restricted stock	Activity in connection with restricted stock units is as follows for the six months ended June 30, 2021: Number of Weighted- Average Grant Date Fair Value Non-vested — December 31, 2020 6,918,474 $ 4.63 Granted 5,007,558 4.81 Vested (1,911,185) 4.78 Forfeited (1,441,562) 4.55 Non-vested — June 30, 2021 8,573,285 $ 4.71
Schedule of stock-based compensation cost relating to stock options and restricted stock awards	The Company recorded stock-based compensation cost relating to stock options and restricted stock units in the following categories on the accompanying condensed consolidated statements of comprehensive loss (in thousands): Three Months Ended Six Months Ended June 30, 2021 2020 2021 2020 Cost of revenue $ 66 $ 42 $ 137 $ 355 Sales and marketing 1,512 2,279 4,471 4,440 Technology and development 1,159 1,320 2,347 2,545 General and administrative 2,420 2,470 4,587 4,685 Total stock-based compensation expense 5,157 6,111 11,542 12,025 Amount capitalized to internal software use 350 355 697 700 Total stock-based compensation cost $ 5,507 $ 6,466 $ 12,239 $ 12,725

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Computation of basic and diluted net loss per share	The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data): Three Months Ended Six Months Ended 2021 2020 2021 2020 Net loss $ (7,283) $ (11,242) $ (15,701) $ (21,911) Loss from continuing operations $ (7,115) $ (11,374) $ (15,533) $ (21,764) (Loss) income from discontinued operations, net of taxes $ (168) $ 132 $ (168) $ (147) Weighted-average common shares outstanding, basic and diluted 98,810 107,535 98,696 107,279 (Loss) income per share, basic and diluted Continuing operations $ (0.07) $ (0.11) $ (0.16) $ (0.20) Discontinued operations $ 0.00 $ 0.00 $ 0.00 $ 0.00
Anti-dilutive shares excluded from the calculation of diluted net loss per share	The following table presents the number of anti-dilutive shares excluded from the calculation of diluted loss per share at June 30, 2021 and 2020 (in thousands): June 30, 2021 2020 Options to purchase common stock 9,312 10,740 Common stock warrants 510 1,459 Non-vested restricted stock unit awards 8,573 8,606 Total shares excluded from net loss per share 18,395 20,805

Revenue Information (Tables)

Revenue Information (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of revenue categories	The following table presents the Company’s revenue categories during the periods presented (in thousands): Three Months Ended Six Months Ended June 30, 2021 2020 2021 2020 Dealer revenue $ 62,670 $ 50,049 $ 124,727 $ 123,847 OEM incentives revenue 2,768 4,771 5,565 8,294 Other revenue 328 3,734 579 5,330 Total revenues $ 65,766 $ 58,554 $ 130,871 $ 137,471

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	6 Months Ended
	Jun. 30, 2021Segment
Accounting Policies [Abstract]
Number of operating segments	1

Accounting Policies - Summary o

Accounting Policies - Summary of Changes in Allowance for Doubtful Accounts and Sales Allowances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowances, at beginning of period	$ 6,149	$ 7,887	$ 7,147	$ 6,591
Charged as a reduction of revenue	1,287	2,959	2,566	5,357
Charged to bad debt expense in general and administrative expenses	236	1,260	468	3,485
Write-offs, net of recoveries	(1,883)	(1,802)	(4,392)	(5,129)
Allowances, at end of period	$ 5,789	$ 10,304	$ 5,789	$ 10,304

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Discontinued Operations, Disposed of by Sale - USD ($) $ in Millions	Nov. 30, 2020	Dec. 31, 2020	Dec. 31, 2022	Mar. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Contingent Consideration, Data License	$ 1.9
ALG Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Ownership Interest Prior to Disposal	100.00%
Disposal Group, Including Discontinued Operation, Consideration	$ 112.5			$ 7.5
Disposal Group, Including Discontinued Operation, Contingent Consideration, Asset		$ 7.5
Disposal Group, Including Discontinued Operation, Consideration, Net Of Working Capital Adjustments And Transaction Costs	111.5
Disposal Group, Including Discontinued Operation, Transaction Costs	$ 1.9
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax		$ 92.5
Subsequent Event | Forecast [Member] | ALG Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Contingent Consideration, Asset			$ 15

Discontinued Operations - Incom

Discontinued Operations - Income From Discontinued Operations, Net of Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) income from discontinued operations, net of taxes	$ (168)	$ 132	$ (168)	$ (147)
ALG Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	0	4,131	0	8,740
Cost of revenue (exclusive of depreciation and amortization presented separately below)	0	1,295	0	2,341
Sales and marketing	0	444	0	939
Technology and development	0	303	0	620
General and administrative	168	671	168	895
Depreciation and amortization	0	1,250	0	2,492
Goodwill impairment	0	0	0	1,923
Total costs and operating expenses	168	3,963	168	9,210
(Loss) income from operations	(168)	168	(168)	(470)
Interest income	0	11	0	166
(Loss) income from discontinued operations before income taxes	(168)	179	(168)	(304)
Provision (benefit) from income taxes	0	47	0	(157)
(Loss) income from discontinued operations, net of taxes	$ (168)	$ 132	$ (168)	$ (147)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value Measurements
Contingent consideration, current	$ 0	$ 2,459
Total liabilities	0	2,459
Level 1
Fair Value Measurements
Cash equivalents	256,715	262,309
Total assets	256,715	262,309
Contingent consideration, current	0	0
Total liabilities	0	0
Level 2
Fair Value Measurements
Cash equivalents	0	0
Total assets	0	0
Contingent consideration, current	0	0
Total liabilities	0	0
Level 3
Fair Value Measurements
Cash equivalents	0	0
Total assets	0	0
Contingent consideration, current	0	2,459
Total liabilities	0	2,459
Total fair value
Fair Value Measurements
Cash equivalents	256,715	262,309
Total assets	$ 256,715	$ 262,309

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Changes in Fair Value of Contingent Consideration Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair value, beginning of period	$ 2,490	$ 4,852	$ 2,459	$ 4,777
Cash payments	(2,500)	(2,500)	(2,500)	(2,500)
Additions and changes in fair value	10	46	41	121
Fair value, end of period	$ 0	$ 2,398	$ 0	$ 2,398

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment	$ 0	$ 0		$ 0	$ 8,264
Operating activities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment			$ 10,200
Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment			$ 1,900

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property and Equipment, net
Property and equipment, gross	$ 91,206		$ 91,206		$ 86,535
Less: Accumulated depreciation	(71,750)		(71,750)		(65,114)
Total property and equipment, net	19,456		19,456		21,421
Property and equipment capitalized but not placed in service	1,100		1,100		900
Total depreciation and amortization expense	4,591	$ 5,175	8,903	$ 10,204
Property and Equipment
Property and Equipment, net
Total depreciation and amortization expense	4,200	4,600	8,100	9,000
Computer equipment, software, and internally developed software
Property and Equipment, net
Property and equipment, gross	71,771		71,771		66,198
Property and equipment disposals			900
Furniture and fixtures
Property and Equipment, net
Property and equipment, gross	3,803		3,803		4,610
Leasehold improvements
Property and Equipment, net
Property and equipment, gross	15,632		15,632		$ 15,727
Internally developed software
Property and Equipment, net
Amortization	$ 3,100	$ 3,300	$ 6,300	$ 6,400

Credit Facility (Details)

Credit Facility (Details) - USD ($)	1 Months Ended
	Apr. 30, 2021	Jun. 30, 2021	Feb. 18, 2018
Revolving line of credit | Third Amended Credit Facility
Credit facility
Maximum borrowing capacity			$ 35,000,000
Increase in maximum borrowing capacity, subject to lender's consent			15,000,000
Maximum borrowing capacity, subject to lender's consent			50,000,000
Revolving line of credit | Fourth Amended Credit Facility
Credit facility
Maximum borrowing capacity	$ 35,000,000
Increase in maximum borrowing capacity, subject to lender's consent	15,000,000
Maximum borrowing capacity, subject to lender's consent	$ 50,000,000
Amount outstanding		$ 0
Remaining borrowing capacity		32,200,000
Letters of credit outstanding, amount		$ 2,800,000
Quick ratio minimum	1.25
Revolving line of credit | Minimum | Fourth Amended Credit Facility
Credit facility
Unused facility fee (as a percent)	0.00%
Revolving line of credit | Maximum | Fourth Amended Credit Facility
Credit facility
Unused facility fee (as a percent)	0.15%
Revolving line of credit | Prime rate | Minimum | Fourth Amended Credit Facility
Credit facility
Variable rate basis spread (as a percent)	(0.25%)
Revolving line of credit | Prime rate | Maximum | Fourth Amended Credit Facility
Credit facility
Variable rate basis spread (as a percent)	0.25%
Revolving line of credit | LIBOR | Minimum | Fourth Amended Credit Facility
Credit facility
Variable rate basis spread (as a percent)	1.75%
Revolving line of credit | LIBOR | Maximum | Fourth Amended Credit Facility
Credit facility
Variable rate basis spread (as a percent)	2.25%
Letters of credit
Credit facility
Maximum borrowing capacity	$ 10,000,000		$ 10,000,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of roll forward of severance liability (Details) - Employee Severance $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 381
Cash Payments	0
Ending balance	$ 381

Commitments and Contingencies_2

Commitments and Contingencies - Legal Proceedings (Details) $ in Thousands	Aug. 02, 2019USD ($)	Aug. 31, 2019action
Loss Contingencies [Line Items]
Number of stockholder derivative actions | action		3
Milbeck Federal Securities Litigation
Loss Contingencies [Line Items]
Agreement to settle | $	$ 28,250

Commitments and Contingencies_3

Commitments and Contingencies - Employment Contracts (Details)	6 Months Ended
	Jun. 30, 2021
Employment contracts
Restructuring Cost and Reserve [Line Items]
Maximum term of executive's annual base salary to determine severance obligations (in months)	12 months

Stock-based Awards (Details - O

Stock-based Awards (Details - Options) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Weighted-Average Remaining Contractual Life
Stock-based compensation expense	$ 5,157	$ 6,111	$ 11,542	$ 12,025
Options
Number of Options
Outstanding at the beginning of period (in shares)			10,009,282
Granted (in shares)			768,354
Exercised (in shares)			(387,052)
Canceled/forfeited (in shares)			(1,078,734)
Outstanding at the end of the period (in shares)	9,311,850		9,311,850		10,009,282
Weighted-Average Exercise Price
Outstanding at the beginning of period (in dollars per share)			$ 9.58
Granted (in dollars per share)			5.04
Exercised (in dollars per share)			3.47
Canceled/forfeited (in dollars per share)			8.34
Outstanding at the end of the period (in dollars per share)	$ 9.60		$ 9.60		$ 9.58
Weighted-Average Remaining Contractual Life
Weighted average remaining contractual life (in years)			4 years 4 months 24 days		5 years 1 month 6 days
Remaining stock-based compensation expense for unvested awards	$ 5,200		$ 5,200
Weighted average period over which remaining stock based compensation expense for unvested awards is expected to be recognized (in years)			2 years 10 months 24 days
Stock-based compensation expense	$ 1,000	$ 1,400	$ 2,600	$ 3,000

Stock-based Awards (Details 2 -

Stock-based Awards (Details 2 - RSUs) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Weighted-Average Grant Date Fair Value
Stock based compensation expense	$ 5,157	$ 6,111	$ 11,542	$ 12,025
Non-vested restricted stock unit awards
Number of Shares
Non-vested at the beginning of period (in shares)			6,918,474
Granted (in shares)			5,007,558
Vested (in shares)			(1,911,185)
Canceled/forfeited (in shares)			(1,441,562)
Non-vested at the end of the period (in per share)	8,573,285		8,573,285
Weighted-Average Grant Date Fair Value
Non-vested at the beginning of period (in dollars per share)			$ 4.63
Granted (in dollars per share)			4.81
Vested (in dollars per share)			4.78
Canceled/forfeited (in dollars per share)			4.55
Non-vested at the end of the period (in dollars per share)	$ 4.71		$ 4.71
Remaining stock based compensation expense for non vested restricted stock units	$ 37,000		$ 37,000
Weighted average period over which remaining stock based compensation expense for unvested awards is expected to be recognized (in years)			2 years 9 months 18 days
Stock based compensation expense	$ 4,200	$ 4,800	$ 8,900	$ 9,100

Stock-based Awards (Details 3 -

Stock-based Awards (Details 3 - Stock comp by FSLI) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock-based Compensation Cost
Stock-based compensation expense	$ 5,157	$ 6,111	$ 11,542	$ 12,025
Amount capitalized to internal software use	350	355	697	700
Total stock-based compensation cost	5,507	6,466	12,239	12,725
Cost of revenue
Stock-based Compensation Cost
Stock-based compensation expense	66	42	137	355
Sales and marketing
Stock-based Compensation Cost
Stock-based compensation expense	1,512	2,279	4,471	4,440
Technology and development
Stock-based Compensation Cost
Stock-based compensation expense	1,159	1,320	2,347	2,545
General and administrative
Stock-based Compensation Cost
Stock-based compensation expense	$ 2,420	$ 2,470	$ 4,587	$ 4,685

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 133	$ 62	$ 227	$ (170)
Operating Loss Carryforwards [Line Items]
Provision for (benefit from) income taxes	$ 133	$ 62	$ 227	$ (170)
Deferred tax assets					$ 3,200
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards					15,200
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards					$ 500

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of basic and diluted net loss per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (7,283)	$ (8,418)	$ (11,242)	$ (10,669)	$ (15,701)	$ (21,911)
Net loss from continuing operations	(7,115)		(11,374)		(15,533)	(21,764)
(Loss) income from discontinued operations, net of taxes	$ (168)		$ 132		$ (168)	$ (147)
Weighted average common shares outstanding, basic (in shares)	98,810		107,535		98,696	107,279
Weighted average common shares outstanding, diluted (in shares)	98,810		107,535		98,696	107,279
Continuing operations, basic (in dollars per share)	$ (0.07)		$ (0.11)		$ (0.16)	$ (0.20)
Continuing operations, diluted (in dollars per share)	(0.07)		(0.11)		(0.16)	(0.20)
Discontinuing operations, basic (in dollars per share)	0		0		0	0
Discontinuing operations, diluted (in dollars per share)	$ 0		$ 0		$ 0	$ 0

Net Loss Per Share - Anti-dilut

Net Loss Per Share - Anti-dilutive shares excluded from the calculation of diluted net loss per share (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders
Total shares excluded from net loss per share	18,395	20,805
Options to purchase common stock
Anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders
Total shares excluded from net loss per share	9,312	10,740
Common stock warrants
Anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders
Total shares excluded from net loss per share	510	1,459
Non-vested restricted stock unit awards
Anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders
Total shares excluded from net loss per share	8,573	8,606

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - USD ($) shares in Millions	6 Months Ended
	Jun. 30, 2021	May 31, 2021	Jul. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Authorized amount		$ 150,000,000	$ 75,000,000
Additional authorized amount		$ 75,000,000
Repurchased and retired (in shares)	3.8
Repurchased and retired	$ 19,300,000
Remaining authorized amount	$ 88,500,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended		8 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020	Mar. 31, 2019
Related Party Transactions
Revenue	$ 65,766,000	$ 58,554,000	$ 130,871,000	$ 137,471,000
USAA
Related Party Transactions
Revenue					$ 20,000,000
USAA
Related Party Transactions
Revenue		3,900,000		5,600,000
Amounts due to or from related party	0		0			$ 0
USAA | Sales and marketing
Related Party Transactions
Costs under related party agreements				2,000,000
Accu-Trade
Related Party Transactions
Ownership percent							20.00%
Due to related parties	1,100,000		1,100,000			$ 900,000
Accu-Trade | Contra-revenue
Related Party Transactions
Contra revenue	300,000	200,000	600,000	600,000
Accu-Trade | Cost of revenue
Related Party Transactions
Costs under related party agreements	$ 1,300,000	$ 100,000	$ 2,500,000	$ 400,000

Revenue Information - Schedule

Revenue Information - Schedule of Revenue Categories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue Information
Revenue	$ 65,766	$ 58,554	$ 130,871	$ 137,471
Dealer revenue
Revenue Information
Revenue	62,670	50,049	124,727	123,847
OEM incentives revenue
Revenue Information
Revenue	2,768	4,771	5,565	8,294
Other revenue
Revenue Information
Revenue	$ 328	$ 3,734	$ 579	$ 5,330

Revenue Information - Narrative

Revenue Information - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract asset reclassified to receivable	$ 2.3
Contract asset	$ 2.2	$ 2.3