UPDATE: TrueCar Shares Drop After Q4 Results

Shares of

tumbled over 8% in after-hours trading after the company reported results for the fourth quarter. The Santa Monica, California-based company posted a quarterly net loss of $9.8 million, or $0.13 per share, versus a year-ago net loss of $7.6 million, or $0.13 per share. Non-GAAP net income came in at $0.3 million, or $0.00 per share, versus non-GAAP net loss of $3.0 million, or $0.05 per share, in the year-ago quarter. Its total revenue climbed 38% to $55.5 million. However, analysts were expecting a loss of 0.01 per share on revenue of $55.54 million. Transaction revenue gained 42% to $51.2 million in the quarter, while data and other revenue gained 7% to $4.2 million. Adjusted EBITDA came in at $4.3 million in the quarter, compared to $(0.3) million in the year-ago quarter. The number of average monthly unique visitors climbed 34% to 4.4 million in the quarter, while the number of units climbed 43% to 163,338. Franchise Dealer Count climbed 28% y/y to 8,501 at December 31, 2014. Scott Painter, Founder and Chief Executive Officer of TrueCar said, "Looking ahead to 2015, we're expecting another year of very strong revenue growth. Leverage in the business will continue to expand, and we'll continue to prioritize reinvestments focused on scaling TrueCar for the long-term. Brand awareness, mobile applications and the OEM channel will continue to be the focus of our investments." TrueCar expects Q1 sales of $59 million and FY15 sales of $280 million to $290 million. Analysts had projected Q1 sales of $58.6 million and FY15 sales of $281.3 million. TrueCar shares fell 8.52% to $19.00 in after-hours trading.