Welcome to our dedicated page for Vroom news (Ticker: VRM), a resource for investors and traders seeking the latest updates and insights on Vroom stock.
Vroom Inc (VRM) operates a transformative digital platform for used vehicle transactions, combining nationwide inventory access with data-driven pricing. This page serves as the definitive source for official company announcements and market-moving updates.
Investors and industry observers will find curated press releases covering quarterly earnings, strategic partnerships, operational milestones, and leadership developments. Our aggregation ensures efficient tracking of VRM's evolving position in automotive e-commerce.
Key updates include financial disclosures, inventory expansion initiatives, technology enhancements to the buying platform, and regulatory filings. All content is sourced directly from company communications to maintain accuracy.
Bookmark this page for streamlined access to VRM's latest developments. Combine these updates with SEC filings and earnings call transcripts for comprehensive analysis of the company's market trajectory.
Vroom (VRM) has released its Q4 and full year 2024 financial results, highlighting significant organizational changes and financial metrics. The company reported consolidated total cash and excess liquidity of $57.5 million as of December 31, 2024, including $29.3 million in cash and cash equivalents.
Key financial results show net losses from continuing operations of $36.7 million for Q4 and $138.2 million for the full year. Adjusted EBITDA losses were $18.2 million and $83.4 million for Q4 and full year respectively.
Notable developments include the completion of a recapitalization of unsecured convertible senior notes on January 14, 2025, resulting in no long-term debt at Vroom Inc. level. The company expects post-emergence tangible book value of approximately $150 million. Additionally, Vroom secured a $25 million line of credit in March 2025 and announced UACC's 17th securitization transaction of $324 million in fixed-rate asset-backed notes.
Vroom (VRM) has received approval to relist its common stock on the Nasdaq Global Market, with trading expected to commence on February 20, 2025. The company is also exploring potential listing of its warrants on a national stock exchange.
According to preliminary unaudited Q4 2024 results, Vroom reported estimated consolidated total cash and excess liquidity of $58 million, comprising:
- $29 million in cash and cash equivalents
- $28 million in excess available liquidity on UACC's warehouse lines
These figures include the impact of approximately $7 million in cash disbursements during Q4 2024 related to the company's recapitalization of its previously issued unsecured convertible senior notes.
Vroom has provided an update regarding the trading status of its common stock and warrants following its emergence from Chapter 11 bankruptcy on January 14, 2025. The company has confirmed that all post-emergence shares and warrants, adjusted according to the previously announced conversion ratio, were delivered by January 15th and should now be visible in shareholders' brokerage accounts.
The company is actively working to resume trading on a national securities exchange under the VRM ticker, though no specific timeline for relisting has been provided. Management emphasizes they are working expeditiously to complete the relisting process.
Vroom (VRM) has successfully completed its recapitalization process on January 14, 2025, emerging from its prepackaged Chapter 11 bankruptcy case. The company has eliminated all long-term debt at the parent level, while its subsidiary UACC remains obligated to asset-backed securitizations and trust-preferred securities debt.
Key transaction details include: unsecured convertible senior notes were fully converted to equity; implementation of a 1-for-5 reverse stock split, resulting in approximately 5.1 million total shares outstanding; and issuance of warrants with an exercise price of $60.95 ($12.19 pre-adjustment). Trade creditors and allowed general unsecured creditors will be paid in full.
Vroom (VRM) reported Q3 2024 financial results, highlighting $51.1 million in cash and cash equivalents. The company recorded a net loss from continuing operations of $(37.7) million and Adjusted EBITDA of $(25.5) million. Notably, Vroom entered an agreement to restructure $290 million of unsecured convertible notes into equity through a prepackaged Chapter 11 case. The company aims to emerge without long-term debt at Vroom Inc., while its subsidiary UACC will maintain obligations related to asset-backed securitizations and trust preferred securities. Following the wind-down of its ecommerce used automotive dealer business, Vroom is focusing on maximizing remaining asset value and implementing cost reduction initiatives.
Vroom (Nasdaq: VRM) has entered into a Restructuring Support Agreement (RSA) with major debt holders and its largest stockholder to convert $290 million of unsecured convertible senior notes due in 2026 into equity. Vroom plans to file a prepackaged Chapter 11 reorganization plan in the U.S. Bankruptcy Court for the Southern District of Texas. The reorganization will not impact its subsidiaries, which will continue normal operations. Existing Vroom shareholders will exchange each share for one new share and a warrant to purchase another share at $12.19, owning about 7.06% of the new common stock. Holders of the unsecured notes will receive new stock equal to 75% of the face value of the notes, owning about 92.94% of the new stock. Trade creditors will be paid in full. Vroom aims to emerge from Chapter 11 by late 2024 or early 2025 and relist its new stock on a major exchange.
Vroom (Nasdaq: VRM) has released an investor presentation outlining its long-term strategic plan and key initiatives. This presentation follows the company's announcement of a Value Maximization Plan on January 22, 2024, which involved discontinuing its ecommerce operations and winding down its used vehicle dealership. Since then, Vroom has been developing a strategy to leverage its remaining assets and improve business profitability.
The investor presentation, which details the company's new direction and strategic initiatives, is now available on Vroom's investor relations website at ir.vroom.com. This move represents a significant shift in Vroom's business model and operations, as the company seeks to maximize value and enhance profitability in the wake of recent operational changes.
Vroom (Nasdaq:VRM) announced Q2 2024 results, showing continued progress on operational initiatives and improved portfolio performance at UACC. Key highlights include:
- $63.4 million cash and cash equivalents as of June 30, 2024
- $34.0 million liquidity available to UACC under warehouse credit facilities
- $(19.1) million net loss from continuing operations
- $(7.5) million Adjusted EBITDA
The company successfully completed a UACC securitization transaction in April 2024. CEO Tom Shortt expressed satisfaction with Q2 results, noting growth in origination volume and serviced loan portfolio year-over-year. Vroom expects originations since early 2023 to perform at pre-pandemic levels and is seeing positive impacts from tightened credit policies, resulting in improved credit losses compared to the previous quarter.
Vroom (Nasdaq: VRM), an online used car retailer, has announced that it will release its financial results for the second quarter ending June 30, 2024, after the market closes on Thursday, August 8, 2024. This upcoming earnings report will provide investors and analysts with important insights into the company's performance during the quarter, including key metrics such as revenue, gross profit, and net income. The release will likely also include information on vehicle sales volume, average selling prices, and any significant developments in Vroom's business operations or strategy.
Vroom, Inc. (Nasdaq:VRM) announced its financial results for Q1 2024, revealing $91.0 million in cash, a $(44.7) million net loss, and $(32.2) million Adjusted EBITDA. The company completed the ecommerce wind-down and securitized $262.5 million in assets. The CEO is proud of the team's execution and focus on United Auto Credit (UACC). With actions to monetize the ecommerce platform, Vroom aims to enhance UACC and CarStory profitability.
FAQ
What is the current stock price of Vroom (VRM)?
What is the market cap of Vroom (VRM)?
