Operator

Good day, and welcome to the CarGurus First Quarter 2026 Earnings Conference Call. Please note, this event is being recorded. I would now like to turn the call over to Kirndeep Singh, Vice President and Head of Investor Relations. Please go ahead.

Kirndeep Singh
VP & Head of Investor Relations

Good afternoon, and thank you for joining us. With me on the call today are Jason Trevisan, Chief Executive Officer; and Sam Zales, President and Chief Operating Officer. We will be making forward-looking statements, which are based on our current expectations and beliefs. Those statements are subject to risks and uncertainties, and our actual results may differ materially. Information concerning those risks and uncertainties is discussed in our SEC filings.

We undertake no obligation to update forward-looking statements, except as required by law. Please refer to our press release and our investor presentation on the Investor Relations section of our website for a reconciliation of GAAP to non-GAAP measures.

I'll now turn the call over to Jason.

Jason Trevisan
CEO, CFO, Interim Principal Financial & Accounting Officer, Treasurer & Director

Good afternoon, and thank you for joining us. We delivered strong financial results in the first quarter with 15% year-over-year revenue growth to $244 million and adjusted EBITDA up 17% year-over-year with a margin of 33% as our product