Welcome to our dedicated page for SFT news (Ticker: SFT), a resource for investors and traders seeking the latest updates and insights on SFT stock.
Shift Technologies, Inc. (Nasdaq: SFT) delivers a modern approach to used car transactions through its integrated digital and physical retail platform. This news hub provides investors and industry observers with essential updates on strategic developments, financial performance, and operational milestones.
Key updates include leadership initiatives under CEO Ayman Moussa, progress on cost-saving restructuring plans, and enhancements to the consumer buying experience. The curated news collection features earnings reports, partnership announcements, and market expansion updates.
Visitors will find analysis of SFT's focus on core operations, including its exit from non-core business segments. Content is organized to highlight progress toward long-term profitability while maintaining consumer-centric values.
Bookmark this page for streamlined access to Shift's official communications and third-party analysis. Check regularly for updates on automotive retail innovation and financial strategy execution.
Shift (Nasdaq: SFT) is launching its inaugural pop-up event, Car to Cash, on January 22-23, 2022, in Los Angeles at Santa Anita Park. This initiative aims to simplify the car selling process amid increasing demand for used vehicles. Customers with cars under 100,000 miles can receive a no-obligation evaluation and an instant cash offer, with an additional $400 bonus if they sell on-site. The event also provides $25 in Lyft credits and complimentary coffee. Shift's goal is to enhance the used car selling experience through technology.
Shift (Nasdaq: SFT), an auto ecommerce platform, has secured a $100 million floorplan facility with Ally Financial (NYSE: ALLY). This new financing relationship enhances Shift's capital position, doubling its previous floor plan's availability. As stated by CFO Oded Shein, 2021 sales are projected to triple compared to 2020, indicating rapid growth and increased financing needs. Ally Financial has supported Shift since 2014, providing various services, and this new arrangement aims to bolster Shift's market opportunities in the used vehicle sector.
Shift Technologies (Nasdaq: SFT) will present at the Wells Fargo TMT Summit on December 1, 2021. The presentation will showcase their innovative ecommerce platform for buying and selling used cars. A live webcast of the event will be available on their investor relations page.
Shift aims to enhance the used car market through technology, providing a seamless buying and selling experience.
Shift Technologies, Inc. (SFT) reported a strong Q3 2021, achieving record revenue and units sold with a year-over-year growth of 200% and 100%, respectively. The company generated a total gross profit of $13.0 million, up 248% year-over-year. Management has raised its full-year revenue guidance to between $621 million and $629 million, reflecting over threefold growth at the midpoint. For Q4, a projected revenue growth of 151% year-over-year indicates continued momentum in the auto ecommerce market.
Shift Technologies (Nasdaq: SFT) appointed Ryan Lawrence as General Counsel and Corporate Secretary effective November 1, 2021. Lawrence brings over 15 years of legal experience, including roles at Cushman & Wakefield and Mayer Brown LLP, enhancing Shift's leadership team. His expertise will support Shift's growth strategy, particularly in revolutionizing the used car buying and selling experience. Shift continues to offer a tech-driven, hassle-free auto ecommerce platform, aiming to simplify car ownership.
Shift Technologies announced that Co-CEO Toby Russell will step down on Feb. 1, 2022, transitioning to a Board and advisory role. George Arison, Co-founder, will become the sole CEO, with operational duties shifting to President Jeff Clementz. Russell's tenure saw significant growth, expanding operations from two to nine regions and achieving over 20-times revenue growth. He emphasizes the strength of Shift's team and culture as key to its future success. Shift plans to share Q3 financial results on Nov. 11, 2021.
Shift (Nasdaq: SFT) announced it will report its third quarter financial results for fiscal 2021, which ended on September 30, 2021. The earnings conference call is scheduled for November 11, 2021, at 5:00 p.m. ET (2 p.m. PT). This call will cover the company's business and financial performance. Investors can access the live call through provided numbers or a webcast. An archived version will be available post-event.
Shift (Nasdaq: SFT) announced the appointment of Jeff Clementz as President, effective Oct. 1, 2021. Clementz, formerly SVP and GM of Walmart US Marketplace, brings over 20 years of experience in ecommerce and financial services. His leadership at Walmart saw the company's ecommerce marketplace grow significantly. Shift's Co-CEOs expressed confidence in Clementz's skills to drive sustainable growth and build on the company's momentum in the auto ecommerce sector, which aims to simplify the car buying and selling experience.
Shift Technologies, Inc. (SFT) reported remarkable financial results for Q2 2021, achieving record revenue of $16.3 million, a 377% year-over-year growth, alongside a 240% increase in units sold. The company projects a 171% revenue growth for Q3 2021 and has raised its full-year revenue guidance to a range of $575 million to $595 million, indicating a threefold increase year-over-year. Co-CEOs Toby Russell and George Arison credited their team's performance and expressed optimism for future growth.
Shift (Nasdaq: SFT), a prominent end-to-end ecommerce platform for used cars, has announced its participation in upcoming investor conferences. Management will attend the J.P. Morgan Auto Conference on August 12, 2021, and the Piper Sandler Global Technology Conference on September 13, 2021. A live webcast will be available on Shift's investor relations website. Shift aims to enhance the used car purchasing experience through technology-driven solutions, facilitating everything from car selection to seamless transactions and ownership support.
