TrueCar (TRUE) 10-Q 8 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	1401 Ocean Ave
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		90,626,136
Entity Central Index Key	0001327318
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 199,681	$ 245,217
Accounts receivable, net of allowances of $1,605 and $3,099 at June 30, 2022 and December 31, 2021, respectively	14,566	16,710
Prepaid expenses	7,914	6,145
Other current assets	5,119	1,866
Total current assets	227,280	269,938
Property and equipment, net	18,775	19,155
Operating lease right-of-use assets	18,724	23,605
Goodwill	59,775	51,205
Intangible assets, net	16,356	4,950
Equity method investment	0	14,500
Other assets	4,252	4,317
Total assets	345,162	387,670
Current liabilities
Accounts payable (includes related party payables of $1,128 at December 31, 2021)	10,248	11,364
Accrued employee expenses	5,275	5,187
Operating lease liabilities, current	4,370	5,253
Accrued expenses and other current liabilities	11,697	9,677
Total current liabilities	31,590	31,481
Deferred tax liabilities	136	103
Operating lease liabilities, net of current portion	20,981	26,300
Other Liabilities, Noncurrent	4,394	0
Total liabilities	57,101	57,884
Commitments and contingencies (Note 8)
Stockholders’ Equity
Preferred stock — $0.0001 par value; 20,000,000 shares authorized at June 30, 2022 and December 31, 2021, respectively; no shares issued and outstanding at June 30, 2022 and December 31, 2021	0	0
Common stock — $0.0001 par value; 1,000,000,000 shares authorized at June 30, 2022 and December 31, 2021, respectively; 90,509,585 and 96,213,243 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	10	10
Additional paid-in capital	705,331	723,623
Accumulated deficit	(417,280)	(393,847)
Total stockholders’ equity	288,061	329,786
Total liabilities and stockholders’ equity	$ 345,162	$ 387,670

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivables- current	$ 1,605	$ 3,099
Related party accounts payable- current		$ 1,128
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)	90,509,585	96,213,243
Common stock, shares outstanding (in shares)	90,509,585	96,213,243

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenues	$ 42,275	$ 65,766	$ 85,808	$ 130,871
Costs and operating expenses:
Cost of revenue (exclusive of depreciation and amortization presented separately below)	3,817	5,746	8,763	11,204
Sales and marketing	26,324	37,476	53,405	77,575
Technology and development	11,380	10,780	21,635	21,973
General and administrative	10,937	13,853	22,661	26,531
Depreciation and amortization	3,785	4,591	7,445	8,903
Total costs and operating expenses	56,243	72,446	113,909	146,186
Loss from operations	(13,968)	(6,680)	(28,101)	(15,315)
Interest income	279	13	306	28
Other income	0	42	0	667
Gain (loss) from equity method investment	96	(357)	1,845	(686)
Loss before income taxes	(13,593)	(6,982)	(25,950)	(15,306)
Provision for (benefit from) income taxes	(2,574)	133	(2,517)	227
Net loss	(11,019)	(7,283)	(23,433)	(15,701)
Other comprehensive loss:
Comprehensive loss	(11,019)	(7,283)	(23,433)	(15,701)
Net loss from continuing operations	(11,019)	(7,115)	(23,433)	(15,533)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0	$ (168)	$ 0	$ (168)
Continuing operations (in dollars per share)	$ (0.12)	$ (0.07)	$ (0.25)	$ (0.16)
Discontinuing operations, basic (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding, basic (in shares)	91,016	98,810	93,457	98,696

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, 2020		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 plan, 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
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
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 plan, net of shares withheld for employee taxes	(630)		(630)
Ending balance (in shares) at Jun. 30, 2021		97,613,457
Ending balance at Jun. 30, 2021	$ 358,230	$ 10	729,439	(371,219)
Beginning balance (in shares) at Dec. 31, 2021	96,213,243	96,213,243
Beginning balance at Dec. 31, 2021	$ 329,786	$ 10	723,623	(393,847)
Increase (Decrease) in Stockholders' Equity
Net loss	(12,414)			(12,414)
Repurchase of common stock (in shares)		(3,107,370)
Repurchase of common stock	(11,028)		(11,028)
Stock-based compensation	3,744		3,744
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		481,122
Shares issued in connection with employee stock plan, net of shares withheld for employee taxes	(861)		(861)
Ending balance (in shares) at Mar. 31, 2022		93,586,995
Ending balance at Mar. 31, 2022	$ 309,227	$ 10	715,478	(406,261)
Beginning balance (in shares) at Dec. 31, 2021	96,213,243	96,213,243
Beginning balance at Dec. 31, 2021	$ 329,786	$ 10	723,623	(393,847)
Increase (Decrease) in Stockholders' Equity
Net loss	$ (23,433)
Ending balance (in shares) at Jun. 30, 2022	90,509,585	90,509,585
Ending balance at Jun. 30, 2022	$ 288,061	$ 10	705,331	(417,280)
Beginning balance (in shares) at Mar. 31, 2022		93,586,995
Beginning balance at Mar. 31, 2022	309,227	$ 10	715,478	(406,261)
Increase (Decrease) in Stockholders' Equity
Net loss	(11,019)			(11,019)
Repurchase of common stock (in shares)		(3,731,415)
Repurchase of common stock	(14,075)		(14,075)
Stock-based compensation	4,777		4,777
Shares issued in connection with employee stock plans, net of shares withheld for employee taxes (in shares)		654,005
Shares issued in connection with employee stock plan, net of shares withheld for employee taxes	$ (849)		(849)
Ending balance (in shares) at Jun. 30, 2022	90,509,585	90,509,585
Ending balance at Jun. 30, 2022	$ 288,061	$ 10	$ 705,331	$ (417,280)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Cash Flows [Abstract]
Net loss	$ (23,433)	$ (15,701)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	(168)
Net loss from continuing operations	(23,433)	(15,533)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	7,445	8,903
Deferred income taxes	(2,524)	50
Bad debt expense and other reserves	178	468
Stock-based compensation	7,985	11,542
Increase in the fair value of contingent consideration liability	0	41
Amortization of lease right-of-use assets	2,156	2,142
(Gain) loss from equity method investment	(1,845)	686
Impairment of right-of-use assets and write-off and loss on disposal of finite-lived assets	0	1,666
Other noncash (gain) expense	(258)	219
Changes in operating assets and liabilities:
Accounts receivable	1,970	9,620
Prepaid expenses and other assets	(1,650)	(1,416)
Accounts payable	(1,153)	3,250
Accrued employee expenses	303	(1,171)
Operating lease liabilities	(2,877)	(2,551)
Accrued expenses and other current liabilities	153	(2,394)
Other liabilities	0	(366)
Net cash (used in) provided by operating activities - continuing operations	(13,550)	15,156
Net cash used in operating activities - discontinued operations	0	(168)
Net cash (used in) provided by operating activities	(13,550)	14,988
Cash flows from investing activities
Purchase of property and equipment	(5,880)	(5,410)
Proceeds from Sale of Equity Method Investments	12,800	0
Cash paid	(12,093)	0
Net cash used in investing activities - continuing operations	(5,173)	(5,410)
Net cash provided by investing activities - discontinued operations	0	7,500
Net cash (used in) provided by investing activities	(5,173)	2,090
Cash flows from financing activities
Payment for Contingent Consideration Liability, Financing Activities	0	(2,214)
Proceeds from exercise of common stock options	179	1,344
Taxes paid related to net share settlement of equity awards	(1,889)	(3,049)
Payments for the repurchase of common stock	(25,103)	(19,400)
Net cash used in financing activities	(26,813)	(23,319)
Net decrease in cash and cash equivalents	(45,536)	(6,241)
Cash and cash equivalents at beginning of period	199,681	267,073
Cash and cash equivalents at end of period	245,217	273,314
Supplemental disclosures of non-cash activities
Stock-based compensation capitalized for software development	536	697
Capitalized assets included in accounts payable, accrued employee expenses and other accrued expenses	780	850
Changes in right-of-use assets for operating lease obligations	3,047	0
Changes in lease liabilities for operating lease obligations	$ 3,636	$ 0

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2022
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 Digital Motors Corporation are collectively referred to as “TrueCar” or the “Company”; TrueCar Dealer Solutions, Inc. is referred to as “TCDS,” DealerScience, LLC is referred to as “DealerScience” and Digital Motors Corporation is referred to as “Digital Motors.” 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, 2022
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, 2021, and include all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the interim periods presented. The condensed consolidated balance sheet at December 31, 2021 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 February 24, 2022. 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 results 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. 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 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, 2022 through June 30, 2022, the Company’s chief operating decision maker (the “CODM”) was comprised of both the President and Chief Executive Officer and the Chief Financial Officer and Chief Operating 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 Six Months Ended 2022 2021 2022 2021 Allowances, at beginning of period $ 2,513 $ 6,149 $ 3,099 $ 7,147 Charged as a reduction of revenue 679 1,287 1,469 2,566 Charged to bad debt expense in general and administrative expenses 18 236 178 468 Write-offs, net of recoveries (1,605) (1,883) (3,141) (4,392) Allowances, at end of period $ 1,605 $ 5,789 $ 1,605 $ 5,789 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. Goodwill Goodwill is not amortized and is tested for impairment at least annually or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If the carrying amount exceeds its fair value, an impairment loss is recognized. There was no impairment during the Company’s last annual test performed at December 31, 2021. As a result of the continued economic disruption as well as a decline in the Company’s stock price and market capitalization, the Company concluded a triggering event had occurred as of June 30, 2022. The Company performed an interim quantitative impairment test, in which the Company estimated the fair value of its single reporting unit by utilizing a market approach, which is based on the market capitalization of the Company using its share price in the Nasdaq Global Select Market and an appropriate control premium. Determining the control premium requires the exercise of significant assumptions and judgments, which are considered Level 3 inputs under the fair value hierarchy, including expected future cash flows, which were based on the synergies market participants could realize if they acquire the reporting unit, and the discount rate. Based on the results of the interim impairment test, the Company concluded that the fair value of its reporting unit was greater than the carrying value and that goodwill was not impaired as of June 30, 2022. While the Company believes it has made reasonable estimates and assumptions to estimate the control premium of its reporting unit, it is possible that a material change could occur. If actual results are not consistent with the Company’s estimates and assumptions, or if the Company’s share price decreases, the fair value of the Company’s reporting unit may decrease to below its carrying value, which could result in impairment of the Company’s goodwill.

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination On May 31, 2022 (the “Acquisition Date”), the Company acquired all of the outstanding shares of Digital Motors for $15.5 million in cash and up to $8.0 million of contingent cash consideration based on the occurrence of certain events including the achievement of product development milestones and future revenues. The acquisition of Digital Motors is intended to accelerate TrueCar's plan to deliver a robust digital car buying and selling experience with its TrueCar+ marketplace. At the Acquisition Date, the Company assessed the probabilities of Digital Motors meeting product development milestones and future revenue targets and recorded contingent consideration of $6.3 million, with $4.4 million recorded in Other liabilities and $1.9 million recorded in Accrued expenses and other current liabilities . From the Acquisition Date through June 30, 2022, there were no significant changes to the value of the contingent consideration. The Company recorded goodwill of $8.6 million, whic h represents the excess of the purchase price over the fair value of the tangible and identifiable intangible assets acquired and liabilities assumed. The goodwill is attributable to the workforce of the acquired business and the significant synergies expected to arise from the Company’s acquisition of Digital Motors. Goodwill attributed to the acquisition is not deductible for income tax purposes. The purchase consideration was preliminarily allocated to the assets acquired and liabilities assumed based on their fair value as of the Acquisition Date. The following table summarizes the preliminary allocation of the purchase consideration and the estimated fair value of the assets acquired and the liabilities assumed for the acquisition of Digital Motors as of the Acquisition Date (in thousands). The purchase price allocation is preliminary and is subject to revision as additional information about the fair value of the assets acquired and liabilities assumed become available, including deferred taxes and residual goodwill. Digital Motors Assets acquired Cash 5,201 Acquired technology 12,500 Other assets acquired 328 Goodwill 8,570 Total assets acquired $ 26,599 Liabilities assumed Accounts payable 1,102 Accrued employee expenses 984 Deferred tax liabilities 2,556 Other liabilities assumed 171 Total liabilities assumed 4,813 Net assets acquired 21,786 Consideration paid Cash paid $ 15,484 Contingent consideration $ 6,302 Total consideration $ 21,786 The estimated useful life for acquired technology is 4 years. Total liabilities assumed include $1.8 million of accrued Digital Motors transaction expenses, which were paid by the Company as of June 30, 2022 and included in cash paid for acquisition, net of cash acquired on the accompanying condensed consolidated statements of cash flows. For the six months ended June 30, 2022, the Company incurred transaction costs of $0.9 million in connection with the Digital Motors acquisition which were expensed as incurred and included in general and administrative expense in the accompanying consolidated statements of comprehensive loss. The Company’s consolidated financial statements include the operating results of Digital Motors from the Acquisition Date through June 30, 2022. Separate operating results and pro forma results of operations for Digital Motors have not been presented as the effect of the acquisition is not material to the Company’s financial results.

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups	6 Months Ended
	Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued OperationsOn 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 transactions 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 of $1.9 million in other current assets and other assets in the accompanying 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. During the first quarter of 2021, the Company received a cash payment of $7.5 million related to the first earnout, which is reflected within investing activities of discontinued operations on the accompanying condensed consolidated statements of cash flows. During the second quarter of 2021, the Company recognized an additional expense of $0.2 million, which is reflected within loss from discontinued operations, net of taxes on the accompanying condensed consolidated statements of comprehensive loss.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsFair 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 Company recorded a contingent consideration liability upon the acquisition of Digital Motors in 2022 (Note 3). Contingent consideration is measured at fair value and is based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair-value hierarchy. The valuation of contingent consideration uses assumptions the Company believes a market participant would make. The Company assesses these estimates on an ongoing basis as it obtains additional data impacting the assumptions. Changes in the fair value of contingent consideration related to updated assumptions and estimates are recognized within the consolidated statements of comprehensive loss. The Company determined the fair value of the contingent consideration using the Scenario-Based model. Because the Digital Motors purchase agreement makes payment of the contingent consideration contingent on achievement of certain product development milestones and future revenue targets, the significant unobservable inputs used in the fair value measurement of contingent consideration are the probabilities of achieving those targets and discount rates. Significant increases or decreases in the probabilities of achieving the targets would result in a significantly higher or lower fair value measurement, respectively. The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021 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, 2022 At December 31, 2021 Total Fair Total Fair Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Value Assets: Cash equivalents $ 185,782 $ — $ — $ 185,782 $ 234,763 $ — $ — $ 234,763 Total assets $ 185,782 $ — $ — $ 185,782 $ 234,763 $ — $ — $ 234,763 At June 30, 2022 At December 31, 2021 Total Fair Total Fair Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Value Liabilities: Contingent consideration, current $ — $ — $ 1,908 $ 1,908 $ — $ — $ — $ — Contingent consideration, non-current $ — $ — $ 4,394 $ 4,394 $ — $ — $ — $ — Total liabilities $ — $ — $ 6,302 $ 6,302 $ — $ — $ — $ — Derivative Assets The following table summarizes the changes in fair value of the derivative asset for the escrow payment upon the sale of the equity method investment in Accu-Trade in March 2022 (in thousands). The gain from the changes in fair value of the derivative asset was recognized in gain (loss) from equity method investment in the accompanying consolidated statements of comprehensive loss. Three Months and Six Months Ended Fair value, beginning of period $ 2,850 Additions and changes in fair value 96 Escrow settlement receivable (2,946) Fair value, end of period $ —

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment consisted of the following at June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Computer equipment, software, and internally developed software $ 83,034 $ 77,237 Furniture and fixtures 3,226 3,794 Leasehold improvements 12,609 15,664 98,869 96,695 Less: Accumulated depreciation (80,094) (77,540) Total property and equipment, net $ 18,775 $ 19,155 Included in the table above are property and equipment of $1.3 million and $1.3 million at June 30, 2022 and December 31, 2021, 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.

Credit Facility

Credit Facility	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Credit Facility	Credit Facility The Company is party to a third amended and restated loan and security agreement (the “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 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 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 Credit Facility to extend the expiration date to April 19, 2021 that did not alter the borrowing amounts, interest rates, or required ratios. In April 2021, the Company entered into a fourth amendment to the Credit Facility to extend the maturity date to April 12, 2024 that did not alter the borrowing amounts, interest rates, or required ratios. The 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. 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, as defined in the Credit Facility, 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. At June 30, 2022 and December 31, 2021, the Company was in compliance with the Credit Facility’s financial covenants. 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, 2022, the Company had no outstanding amounts under the Credit Facility and the amount available was $32.6 million, reduced for the letters of credit issued and outstanding under the subfacility of $2.4 million.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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”). The complaint, as amended, 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 as defendants. On May 26, 2020, the case was dismissed pursuant to a settlement. As a result, the Milbeck Federal Securities Litigation has been 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. In October 2021, following the aforementioned investigation, the Board adopted the Special Committee’s recommendation that the Board refuse the demands in their entirety and conclude that no further action is necessary. The Company has not recorded an accrual related to this matter as of June 30, 2022 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. Following the Board’s action on the Special Committee’s recommendation, which is described above, the plaintiff dismissed her claims against the Company on June 22, 2022. As a result, the Lee Derivative Litigation has been resolved and the Company has not recorded an accrual related to this matter as of June 30, 2022 as the Company does not believe a loss is probable or reasonably estimable. 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, 2022
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, 2022 is as follows: Number of Weighted-Average Exercise Price Weighted-Average (in years) Outstanding at December 31, 2021 6,078,180 $ 9.24 6.2 Granted — — Exercised (66,904) 2.68 Forfeited/expired (591,738) 7.32 Outstanding at June 30, 2022 5,419,538 $ 9.53 5.5 At June 30, 2022, total remaining stock-based compensation expense for unvested stock option awards was $2.9 million, which is expected to be recognized over a weighted-average period of 2.4 years. For the three months ended June 30, 2022 and 2021, the Company recorded stock-based compensation expense for stock option awards of $0.4 million and $1.0 million, respectively. For the six months ended June 30, 2022 and 2021, the Company recorded stock-based compensation expense for stock option awards of $0.8 million and $2.6 million, respectively. Restricted Stock Units Activity in connection with restricted stock units is as follows for the six months ended June 30, 2022: Number of Weighted- Average Grant Date Fair Value Non-vested — December 31, 2021 7,536,114 $ 4.60 Granted 6,514,994 4.06 Vested (1,626,096) 4.72 Forfeited (1,003,114) 4.75 Non-vested — June 30, 2022 11,421,898 $ 4.26 At June 30, 2022, total remaining stock-based compensation expense for non-vested restricted stock units was $43.9 million, which is expected to be recognized over a weighted-average period of 3.0 years. For the three months ended June 30, 2022 and 2021, the Company recorded $4.1 million and $4.2 million in stock-based compensation expense for restricted stock units, respectively. For the six months ended June 30, 2022 and 2021, the Company recorded $7.2 million and $8.9 million in stock-based compensation expense for restricted stock units, 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 2022 2021 2022 2021 Cost of revenue $ 46 $ 66 $ 83 $ 137 Sales and marketing 1,233 1,512 2,408 4,471 Technology and development 1,056 1,159 1,956 2,347 General and administrative 2,152 2,420 3,538 4,587 Total stock-based compensation expense 4,487 5,157 7,985 11,542 Amount capitalized to internal software use 290 350 536 697 Total stock-based compensation cost $ 4,777 $ 5,507 $ 8,521 $ 12,239

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
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, adjusted for discrete items, if any, that are taken into account in the relevant period. 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 an income tax benefit of $2.6 million for the three months ended June 30, 2022 and income tax expense of $0.1 million for the three months ended June 30, 2021. For the six months ended June 30, 2022 and 2021, the Company recorded an income tax benefit of $2.5 million and income tax expense of $0.2 million, respectively. The Company’s income tax benefit for the three months and six months ended June 30, 2022 includes a $2.6 million discrete income tax benefit from the release of valuation allowance resulting from net deferred tax liabilities recorded in Digital Motors acquisition accounting that is a source of income in assessing realization of the Company’s net deferred tax assets. For the three months 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. The Company continues to maintain a full valuation allowance as it is more likely than not that the Company’s net deferred tax assets will not be realized. There were no material changes to the Company’s unrecognized tax benefits in the six months ended June 30, 2022. In the fourth quarter of 2021, there was a $1.1 million increase in unrecognized tax benefit primarily related to bonus expense that does not qualify as a federal income tax deduction when accrued for financial reporting purposes. The Company expects the amount of unrecognized tax benefits to decrease by $1.1 million during the fiscal year as a result of proposed filing of application for a change in accounting method with the filing of the tax return. The Company is subject to United States federal and state taxation. Due to the presence of net operating loss carryforwards, all income tax years remain open for examination by the IRS and various state taxing authorities. The Company is not currently under Internal Revenue Service or state tax examination.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended Six Months Ended 2022 2021 2022 2021 Net loss $ (11,019) $ (7,283) $ (23,433) $ (15,701) Loss from continuing operations $ (11,019) $ (7,115) $ (23,433) $ (15,533) Loss from discontinued operations, net of taxes $ — $ (168) $ — $ (168) Weighted average common shares outstanding, basic and diluted 91,016 98,810 93,457 98,696 Net loss per share, basic and diluted Continuing operations $ (0.12) $ (0.07) $ (0.25) $ (0.16) Discontinued operations $ — $ — $ — $ — The following table presents the number of anti-dilutive shares excluded from the calculation of diluted loss per share at June 30, 2022 and 2021 (in thousands): June 30, 2022 2021 Options to purchase common stock 5,420 9,312 Common stock warrants — 510 Non-vested restricted stock unit awards 11,422 8,573 Total shares excluded from net loss per share 16,842 18,395 Share Repurchase Program In July 2020, the Company’s board of directors authorized an open market stock repurchase program (the “Program”) of up to $75 million to allow for the repurchase of shares of the Company’s common stock through September 30, 2022. In May 2021, the Company’s board of directors increased the authorization of the Program by an additional $75 million, bringing the total authorization to $150 million. In July 2022, the Company’s board of directors extended the expiration of the Program until September 30, 2024. The timing and amount of any repurchases will be determined by Company management based on its evaluation of market conditions and other factors. Repurchases of the Company’s common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws, open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws. The Program may be suspended or discontinued at any time and does not obligate the Company to purchase any minimum number of shares. During the six months ended June 30, 2022 the Company repurchased and retired a total of 6.8 million shares under the Program for $25.0 million. As of June 30, 2022, the Company had a remaining authorization of $50.5 million for future share repurchases.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions with Accu-Trade On March 1, 2022, the Company sold its 20% ownership interests in Accu-Trade at the investment’s carrying value and no longer considers Accu-Trade a related party after the sale. The Company recognized contra-revenue of $0.1 million and cost of revenue of $1.1 million for the two months ended March 1, 2022, and recognized contra-revenue of $0.3 million and $0.6 million and cost of revenue of $1.3 million and $2.5 million for the three months and six months ended June 30, 2021, respectively, related to a software and data licensing agreement that was terminated as part of the sale. The Company had amounts due to Accu-Trade included in accounts payable at December 31, 2021 of $1.1 million. No amounts were due to Accu-Trade at June 30, 2022.

Revenue Information

Revenue Information	6 Months Ended
	Jun. 30, 2022
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 2022 2021 2022 2021 Dealer revenue $ 40,705 $ 62,670 $ 82,991 $ 124,727 OEM incentives revenue 1,396 2,768 2,424 5,565 Other revenue 174 328 393 579 Total revenues $ 42,275 $ 65,766 $ 85,808 $ 130,871 Contract Balances The Company’s contract asset balance for estimated variable consideration to be received upon the occurrence of subsequent vehicle sales is included within other current assets and is distinguished from accounts receivable in that these amounts are conditional upon subsequent sales and not only upon the passage of time. Substantially all of the contract asset balances of $0.9 million at December 31, 2021 were transferred to accounts receivable during the six months ended June 30, 2022 as vehicle sales occurred, with no significant changes in the estimate. A contract asset of $0.9 million and $0.9 million was recorded as of June 30, 2022 and December 31, 2021, respectively, for leads delivered where consideration to be received was still conditional upon subsequent vehicle sales.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2021, and include all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the interim periods presented.
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 results 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. 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 EstimatesThe 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 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, 2022 through June 30, 2022, the Company’s chief operating decision maker (the “CODM”) was comprised of both the President and Chief Executive Officer and the Chief Financial Officer and Chief Operating 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
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 Six Months Ended 2022 2021 2022 2021 Allowances, at beginning of period $ 2,513 $ 6,149 $ 3,099 $ 7,147 Charged as a reduction of revenue 679 1,287 1,469 2,566 Charged to bad debt expense in general and administrative expenses 18 236 178 468 Write-offs, net of recoveries (1,605) (1,883) (3,141) (4,392) Allowances, at end of period $ 1,605 $ 5,789 $ 1,605 $ 5,789

Business Combination (Tables)

Business Combination (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary allocation of the purchase consideration and the estimated fair value of the assets acquired and the liabilities assumed for the acquisition of Digital Motors as of the Acquisition Date (in thousands). The purchase price allocation is preliminary and is subject to revision as additional information about the fair value of the assets acquired and liabilities assumed become available, including deferred taxes and residual goodwill. Digital Motors Assets acquired Cash 5,201 Acquired technology 12,500 Other assets acquired 328 Goodwill 8,570 Total assets acquired $ 26,599 Liabilities assumed Accounts payable 1,102 Accrued employee expenses 984 Deferred tax liabilities 2,556 Other liabilities assumed 171 Total liabilities assumed 4,813 Net assets acquired 21,786 Consideration paid Cash paid $ 15,484 Contingent consideration $ 6,302 Total consideration $ 21,786

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and December 31, 2021 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, 2022 At December 31, 2021 Total Fair Total Fair Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Value Assets: Cash equivalents $ 185,782 $ — $ — $ 185,782 $ 234,763 $ — $ — $ 234,763 Total assets $ 185,782 $ — $ — $ 185,782 $ 234,763 $ — $ — $ 234,763 At June 30, 2022 At December 31, 2021 Total Fair Total Fair Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Value Liabilities: Contingent consideration, current $ — $ — $ 1,908 $ 1,908 $ — $ — $ — $ — Contingent consideration, non-current $ — $ — $ 4,394 $ 4,394 $ — $ — $ — $ — Total liabilities $ — $ — $ 6,302 $ 6,302 $ — $ — $ — $ —
Summary of Changes in Fair Value of the Derivative Asset	The following table summarizes the changes in fair value of the derivative asset for the escrow payment upon the sale of the equity method investment in Accu-Trade in March 2022 (in thousands). The gain from the changes in fair value of the derivative asset was recognized in gain (loss) from equity method investment in the accompanying consolidated statements of comprehensive loss. Three Months and Six Months Ended Fair value, beginning of period $ 2,850 Additions and changes in fair value 96 Escrow settlement receivable (2,946) Fair value, end of period $ —

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consisted of the following at June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Computer equipment, software, and internally developed software $ 83,034 $ 77,237 Furniture and fixtures 3,226 3,794 Leasehold improvements 12,609 15,664 98,869 96,695 Less: Accumulated depreciation (80,094) (77,540) Total property and equipment, net $ 18,775 $ 19,155

Stock-based Awards (Tables)

Stock-based Awards (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 is as follows: Number of Weighted-Average Exercise Price Weighted-Average (in years) Outstanding at December 31, 2021 6,078,180 $ 9.24 6.2 Granted — — Exercised (66,904) 2.68 Forfeited/expired (591,738) 7.32 Outstanding at June 30, 2022 5,419,538 $ 9.53 5.5
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, 2022: Number of Weighted- Average Grant Date Fair Value Non-vested — December 31, 2021 7,536,114 $ 4.60 Granted 6,514,994 4.06 Vested (1,626,096) 4.72 Forfeited (1,003,114) 4.75 Non-vested — June 30, 2022 11,421,898 $ 4.26
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 2022 2021 2022 2021 Cost of revenue $ 46 $ 66 $ 83 $ 137 Sales and marketing 1,233 1,512 2,408 4,471 Technology and development 1,056 1,159 1,956 2,347 General and administrative 2,152 2,420 3,538 4,587 Total stock-based compensation expense 4,487 5,157 7,985 11,542 Amount capitalized to internal software use 290 350 536 697 Total stock-based compensation cost $ 4,777 $ 5,507 $ 8,521 $ 12,239

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation of basic and diluted net loss per share	The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended Six Months Ended 2022 2021 2022 2021 Net loss $ (11,019) $ (7,283) $ (23,433) $ (15,701) Loss from continuing operations $ (11,019) $ (7,115) $ (23,433) $ (15,533) Loss from discontinued operations, net of taxes $ — $ (168) $ — $ (168) Weighted average common shares outstanding, basic and diluted 91,016 98,810 93,457 98,696 Net loss per share, basic and diluted Continuing operations $ (0.12) $ (0.07) $ (0.25) $ (0.16) Discontinued operations $ — $ — $ — $ —
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, 2022 and 2021 (in thousands): June 30, 2022 2021 Options to purchase common stock 5,420 9,312 Common stock warrants — 510 Non-vested restricted stock unit awards 11,422 8,573 Total shares excluded from net loss per share 16,842 18,395

Revenue Information (Tables)

Revenue Information (Tables)	6 Months Ended
	Jun. 30, 2022
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 2022 2021 2022 2021 Dealer revenue $ 40,705 $ 62,670 $ 82,991 $ 124,727 OEM incentives revenue 1,396 2,768 2,424 5,565 Other revenue 174 328 393 579 Total revenues $ 42,275 $ 65,766 $ 85,808 $ 130,871

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 Segment
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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowances, at beginning of period	$ 2,513	$ 6,149	$ 3,099	$ 7,147
Charged as a reduction of revenue	679	1,287	1,469	2,566
Charged to bad debt expense in general and administrative expenses	18	236	178	468
Write-offs, net of recoveries	(1,605)	(1,883)	(3,141)	(4,392)
Allowances, at end of period	$ 1,605	$ 5,789	$ 1,605	$ 5,789

Business Combination - Addition

Business Combination - Additional Information (Details) - USD ($) $ in Thousands		6 Months Ended
	May 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Cash paid		$ 12,093	$ 0
Goodwill		$ 59,775		$ 51,205
Digital Motors
Business Acquisition [Line Items]
Cash paid	$ 15,484
Contingent liability, cash	8,000
Contingent consideration	6,302
Contingent consideration, noncurrent	4,400
Contingent consideration, current	1,900
Goodwill	$ 8,570
Weighted-average life of intangible assets		4 years
Accrued transaction expenses		$ 1,800
Transaction costs		$ 900

Business Combination- Schedule

Business Combination- Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		6 Months Ended
	May 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Assets acquired
Goodwill		$ 59,775		$ 51,205
Liabilities assumed
Cash paid		$ 12,093	$ 0
Digital Motors
Assets acquired
Cash	$ 5,201
Other assets acquired	328
Goodwill	8,570
Total assets acquired	26,599
Liabilities assumed
Accounts payable	1,102
Accrued employee expenses	984
Deferred tax liabilities	2,556
Other liabilities assumed	171
Total liabilities assumed	4,813
Net assets acquired	21,786
Cash paid	15,484
Contingent consideration	6,302
Total consideration	21,786
Digital Motors | Technology-Based Intangible Assets
Assets acquired
Acquired technology	$ 12,500

Discontinued Operations and D_2

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Nov. 30, 2020	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Transaction Costs, Period		5 years
Discontinued Operations, Disposed of by Sale
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
Discontinued Operations, Disposed of by Sale | ALG Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest prior to disposal (as a percent)	100%
Consideration	$ 112.5			$ 7.5
Contingent consideration, asset			$ 15		$ 7.5
Consideration, net of working capital adjustments and transaction costs	$ 111.5
Disposal Group, Including Discontinued Operation, General and Administrative Expense			$ 0.2

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Measurements
Business Combination, Contingent Consideration, Liability, Current	$ 1,908	$ 0
Business Combination, Contingent Consideration, Liability, Noncurrent	4,394	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	6,302	0
Level 1
Fair Value Measurements
Cash equivalents	185,782	234,763
Total assets	185,782	234,763
Business Combination, Contingent Consideration, Liability, Current	0	0
Business Combination, Contingent Consideration, Liability, Noncurrent	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Level 2
Fair Value Measurements
Cash equivalents	0	0
Total assets	0	0
Business Combination, Contingent Consideration, Liability, Current	0	0
Business Combination, Contingent Consideration, Liability, Noncurrent	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Level 3
Fair Value Measurements
Cash equivalents	0	0
Total assets	0	0
Business Combination, Contingent Consideration, Liability, Current	1,908	0
Business Combination, Contingent Consideration, Liability, Noncurrent	4,394	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	6,302	0
Total fair value
Fair Value Measurements
Cash equivalents	185,782	234,763
Total assets	$ 185,782	$ 234,763

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Changes in Fair Value of Derivative Asset (Details) - Recurring - Level 3 $ in Thousands	3 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair value, beginning of period	$ 2,850
Additions and changes in fair value	96
Escrow settlement receivable	(2,946)
Fair value, end of period	$ 0

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property and Equipment, net
Property and equipment, gross	$ 98,869		$ 98,869		$ 96,695
Less: Accumulated depreciation	(80,094)		(80,094)		(77,540)
Total property and equipment, net	18,775		18,775		19,155
Property and equipment capitalized but not placed in service	1,300		1,300		1,300
Total depreciation and amortization expense	3,785	$ 4,591	7,445	$ 8,903
Property and Equipment
Property and Equipment, net
Total depreciation and amortization expense	3,200	4,200	6,400	8,100
Computer equipment, software, and internally developed software
Property and Equipment, net
Property and equipment, gross	83,034		83,034		77,237
Furniture and fixtures
Property and Equipment, net
Property and equipment, gross	3,226		3,226		3,794
Leasehold improvements
Property and Equipment, net
Property and equipment, gross	12,609		12,609		$ 15,664
Internally developed software
Property and Equipment, net
Amortization	$ 3,000	$ 3,100	$ 5,800	$ 6,300

Credit Facility (Details)

Credit Facility (Details) - USD ($)	1 Months Ended
	Apr. 30, 2021	Jun. 30, 2022	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
Quick ratio minimum	1.25
Amount outstanding		$ 0
Remaining borrowing capacity		32,600,000
Letters of credit outstanding, amount		$ 2,400,000
Revolving line of credit | Minimum | Fourth Amended Credit Facility
Credit facility
Unused facility fee (as a percent)	0%
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

Commitments and Contingencies -

Commitments and Contingencies - Legal Proceedings (Details)	Aug. 31, 2019 action
Milbeck Federal Securities Litigation
Loss Contingencies [Line Items]
Number of stockholder derivative actions	3

Commitments and Contingencies_2

Commitments and Contingencies - Employment Contracts (Details)	6 Months Ended
	Jun. 30, 2022
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
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted-Average Remaining Contractual Life
Stock-based compensation expense	$ 4,487		$ 5,157	$ 7,985	$ 11,542
Options
Number of Options
Outstanding at the beginning of period (in shares)		6,078,180		6,078,180
Granted (in shares)				0
Exercised (in shares)				(66,904)
Canceled/forfeited (in shares)				(591,738)
Outstanding at the end of the period (in shares)	5,419,538			5,419,538
Weighted-Average Exercise Price
Outstanding at the beginning of period (in dollars per share)		$ 9.24		$ 9.24
Granted (in dollars per share)				0
Exercised (in dollars per share)				2.68
Canceled/forfeited (in dollars per share)				7.32
Outstanding at the end of the period (in dollars per share)	$ 9.53			$ 9.53
Weighted-Average Remaining Contractual Life
Weighted average remaining contractual life (in years)		6 years 2 months 12 days		5 years 6 months
Remaining stock-based compensation expense for unvested awards	$ 2,900			$ 2,900
Weighted average period over which remaining stock based compensation expense for unvested awards is expected to be recognized (in years)				2 years 4 months 24 days
Stock-based compensation expense	$ 400		$ 1,000	$ 800	$ 2,600

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted-Average Grant Date Fair Value
Stock based compensation expense	$ 4,487	$ 5,157	$ 7,985	$ 11,542
Non-vested restricted stock unit awards
Number of Shares
Non-vested at the beginning of period (in shares)			7,536,114
Granted (in shares)			6,514,994
Vested (in shares)			(1,626,096)
Canceled/forfeited (in shares)			(1,003,114)
Non-vested at the end of the period (in per share)	11,421,898		11,421,898
Weighted-Average Grant Date Fair Value
Non-vested at the beginning of period (in dollars per share)			$ 4.60
Granted (in dollars per share)			4.06
Vested (in dollars per share)			4.72
Canceled/forfeited (in dollars per share)			4.75
Non-vested at the end of the period (in dollars per share)	$ 4.26		$ 4.26
Remaining stock based compensation expense for non vested restricted stock units	$ 43,900		$ 43,900
Weighted average period over which remaining stock based compensation expense for unvested awards is expected to be recognized (in years)			3 years
Stock based compensation expense	$ 4,100	$ 4,200	$ 7,200	$ 8,900

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-based Compensation Cost
Stock-based compensation expense	$ 4,487	$ 5,157	$ 7,985	$ 11,542
Amount capitalized to internal software use	290	350	536	697
Total stock-based compensation cost	4,777	5,507	8,521	12,239
Cost of revenue
Stock-based Compensation Cost
Stock-based compensation expense	46	66	83	137
Sales and marketing
Stock-based Compensation Cost
Stock-based compensation expense	1,233	1,512	2,408	4,471
Technology and development
Stock-based Compensation Cost
Stock-based compensation expense	1,056	1,159	1,956	2,347
General and administrative
Stock-based Compensation Cost
Stock-based compensation expense	$ 2,152	$ 2,420	$ 3,538	$ 4,587

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ (2,574)		$ 133	$ (2,517)	$ 227
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions		$ 1,100
Decrease in Unrecognized Tax Benefits is Reasonably Possible	1,100			1,100
Maximum
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ (2,600)		$ 100	$ (2,500)	$ 200

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, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (11,019)	$ (12,414)	$ (7,283)	$ (8,418)	$ (23,433)	$ (15,701)
Weighted average common shares outstanding, basic (in shares)	91,016		98,810		93,457	98,696
Continuing operations (in dollars per share)	$ (0.12)		$ (0.07)		$ (0.25)	$ (0.16)
Discontinuing operations, basic (in dollars per share)	$ 0		$ 0		$ 0	$ 0
Net loss from continuing operations	$ (11,019)		$ (7,115)		$ (23,433)	$ (15,533)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0		$ (168)		$ 0	$ (168)

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, 2022	Jun. 30, 2021
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	16,842	18,395
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	5,420	9,312
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	0	510
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	11,422	8,573

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - USD ($) shares in Millions	6 Months Ended
	Jun. 30, 2022	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)	6.8
Repurchased and retired	$ 25,000,000
Remaining authorized amount	$ 50,500,000

Related Party Transactions (Det

Related Party Transactions (Details) - Accu-Trade - USD ($) $ in Millions	2 Months Ended	3 Months Ended	6 Months Ended
	Mar. 01, 2022	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Related Party Transactions
Ownership percent	20%
Due to related parties				$ 0	$ 1.1
Contra-revenue
Related Party Transactions
Contra revenue	$ 0.1	$ 0.3	$ 0.6
Cost of revenue
Related Party Transactions
Costs under related party agreements	$ 1.1	$ 1.3	$ 2.5

Revenue Information - Schedule

Revenue Information - Schedule of Revenue Categories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue Information
Revenue	$ 42,275	$ 65,766	$ 85,808	$ 130,871
Dealer revenue
Revenue Information
Revenue	40,705	62,670	82,991	124,727
OEM incentives revenue
Revenue Information
Revenue	1,396	2,768	2,424	5,565
Other revenue
Revenue Information
Revenue	$ 174	$ 328	$ 393	$ 579

Revenue Information - Narrative

Revenue Information - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract asset reclassified to receivable	$ 0.9
Contract asset	$ 0.9	$ 0.9