Vroom, Inc. Stock Price, News & Analysis

Vroom, Inc. (Nasdaq: VRM) reported Q3 2022 financial results, highlighting a 16% increase in ecommerce gross profit per unit to $4,206. The net loss shrank from $(115.1) million to $(51.1) million. Adjusted EBITDA improved from $(85.6) million to $(73.3) million. However, ecommerce units sold fell 67.3% year-over-year, with revenue declining 67.9% to $225.4 million. SG&A expenses decreased by $18.3 million. Management is focused on enhancing customer experience and aims for a cash liquidity of $450 to $565 million by year-end.

Vroom announces the appointment of Timothy M. Crow to its Board of Directors, effective October 26, 2022, replacing Fred Terrell. Crow, former Chief Human Resources Officer at The Home Depot, brings over 20 years of experience in human capital management. He will serve on the Compensation and Nominating Committees. The company expressed confidence in Crow's leadership skills as it aims to enhance its long-term strategic roadmap. Terrell's resignation is acknowledged with appreciation for his service.

Vroom, Inc. (NASDAQ: VRM) plans to release its third quarter financial results for the period ending September 30, 2022, after market close on November 7, 2022. The company will host a conference call and audio webcast on November 8, 2022, at 8:30 a.m. ET. This event will provide investors with insights into the company’s performance and future outlook. Interested participants can register via the company’s investor relations website for both the call and the listen-only webcast.

Vroom, Inc. (Nasdaq: VRM) announced on September 22, 2022, that its Compensation Committee approved the grant of inducement restricted stock unit awards covering 95,125 shares to 22 non-executive employees. This initiative aims to attract new talent, with awards vesting in equal annual increments over three years, contingent upon continued employment. These awards are part of Vroom’s 2022 Inducement Award Plan, adhering to Nasdaq listing rules. Vroom is an e-commerce platform specializing in the buying and selling of used vehicles, offering a data-driven approach to enhance customer experience.

Vroom, Inc. (Nasdaq:VRM) reported its Q2 2022 financial results, highlighting a gross profit per unit of $3,629, up 106% sequentially. The company saw a net loss improvement from $310.5 million in Q1 to $115.1 million in Q2. SG&A expenses decreased by $35 million, contributing to better profit metrics. However, ecommerce units sold fell by 49.5% year-over-year, driving total ecommerce revenue down 44.5% to $321.6 million. Vroom ended the quarter with $533 million in liquidity and anticipates a year-end liquidity of approximately $500 million.

Vroom (NASDAQ: VRM) announced that its subsidiary, United Auto Credit Corporation (UACC), priced an auto loan securitization of $255.080 million in automobile receivable backed notes on July 14, 2022. This marks UACC's 14th securitization and the second since Vroom's acquisition of UACC on February 1, 2022. UACC aims to sell approximately $285.000 million in auto loans to a special purpose trust. The notes are rated between AAA and BB. Settlement is expected on or about July 20, 2022.

Vroom, Inc. (Nasdaq: VRM) will announce its financial results for Q2 2022 on August 8, 2022, after market close. The company will host a conference call on August 9, 2022, at 8:30 a.m. ET, to discuss these results. Vroom operates as an e-commerce platform for buying and selling used vehicles, utilizing data-driven technology to enhance customer experience with competitive pricing and contact-free services. Investors can access the conference via registration, and a recorded version will be available afterward.

On May 20, 2022, Vroom, Inc. (Nasdaq: VRM) announced the approval of inducement restricted stock unit awards for 298,329 shares to 21 non-executive and one executive employee. The awards aim to attract talent under Vroom’s 2022 Inducement Award Plan, vesting in equal annual increments over three years, subject to continued employment. These awards comply with Nasdaq listing rules and are part of Vroom's strategy to enhance its workforce in the competitive used vehicle e-commerce market.