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Cars.com - Investor Relations CARS Reports Second Quarter 2021 Results Exceeded Second Quarter Guidance Continued Growth in ARPD , Dealer Customers and Revenue Robust Year - Over - Year Growth in Year - to - Date Operating Cash Flow CHICAGO , Aug. 5 , 2021 / PRNewswire / -- Cars.com Inc. ( NYSE : CARS ) ( " CARS " or the " Company " ) , a leading digital marketplace and solutions provider for the automotive industry , today released its financial results for the quarter ended June 30 , 2021 . Q2 2021 Financial and Key Metric Highlights 1 • Revenue of $ 155.5 million , up $ 53.5 million , or 52 % year - over - year . Excluding the impact of prior - year invoice credits , 1 revenue was up $ 15.3 million , or 11 % , year - over - year . • GAAP Net income totaled $ 6.0 million , or $ 0.08 per diluted share · Adjusted EBITDA of $ 48.5 million , or 31 % of Revenue • Year - to - Date Net cash provided by operating activities of $ 79.6 million , up 38 % year - over - year , with Free Cash Flow of $ 66.5 million , up 36 % year - over - year • Average Monthly Unique Visitors of 26.4 million , up 16 % year - over - year • Traffic of 158.4 million , up 10 % year - over - year • Monthly Average Revenue Per Dealer ( " ARPD " ) of $ 2,299 , up 59 % from $ 1,442 in the prior - year period . Excluding the impact of prior - year invoice credits , year - over - year ARPD growth was 10 % , approximately half of which was driven by FUEL . • Dealer Customers of 18,845 as of June 30 , 2021 , up 22 compared to 18,823 as of March 31 , 2021 In an effort to assist our dealer customers impacted by the COVID - 19 pandemic and related restrictions , we provided , among other measures , financial relief in the form of invoice credits of 50 % for April 2020 and 30 % for May and June 2020. These discounts totaled approximately $ 38.2 million in the second quarter of 2020 . Operational Highlights • Made a $ 20.0 million voluntary debt prepayment , bringing total debt prepayments to $ 70 million for the first half of 2021 , evidence of the Company's continued strength in Free Cash Flow and focus on maintaining a strong balance sheet • Launched the Company's new cloud - based web platform enabling faster innovation to introduce new industry - leading features and solutions to shoppers and customers • Based on the number of live dealership websites , Dealer Inspire is the leading provider of the new entries in the GM " Dealer Choice " program " Our momentum continued as we delivered solid sequential results . Performance was driven by growth in ARPD and dealers ' continued adoption of digital tools and is reflective of our robust marketplace and solutions strategy , " stated Alex Vetter , President and Chief Executive Officer of CARS . " The launch of our new cloud - based platform provides shoppers with an enhanced experience on our site and mobile app and enables us to more rapidly innovate features and solutions for our customers . " Q2 2021 Results Revenue for the second quarter totaled $ 155.5 million , an increase of $ 53.5 million , or 52 % , compared to the second quarter of 2020 , which reflects the impact of the financial relief the Company provided to its dealer customers . Excluding the impact of prior - year invoice credits , revenue grew 11 % year - over - year . Compared to the first quarter of 2021 , revenue increased $ 2.2 million , or 1 % , and dealer revenue grew 3 % , led by growth in ARPD driven by continued growth in FUEL and website solutions . Total operating expenses were $ 139.9 million , compared to $ 119.2 million for the prior year period . The second quarter of 2020 reflects the Company's management of expenses to adjust to changes in revenue due to the COVID - 19 pandemic ; as a result , operating expenses were lower than those in the Company's typical operating environment . Compared to the first quarter of 2021 , total operating expenses increased 2 % , primarily due to higher Product and Technology expense related to continued investments to support growth as well as the Company's new cloud - based platform .