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) publishes frequent updates through earnings releases, restructuring announcements and SEC-related communications that are directly relevant to investors following the automotive finance and automotive data and analytics space. Company news highlights its role as a holding company for United Auto Credit Corporation (UACC), described as a leading automotive lender serving independent and franchise dealers nationwide, and CarStory, which Vroom identifies as a leader in AI-powered analytics and digital services for automotive retail.
Recent Vroom news has focused on its recapitalization and emergence from a prepackaged Chapter 11 case, the conversion of unsecured convertible senior notes into equity, and the application of fresh-start accounting. Releases describe how Vroom emerged from Chapter 11 without long-term debt at the Vroom, Inc. level, while UACC continues to be obligated on securitization-related debt. These events are central to understanding the company’s balance sheet, capital structure and Long-Term Strategic Plan.
Quarterly earnings press releases for 2024 and 2025 provide detailed discussions of interest income, net interest income after losses and recoveries, noninterest income from servicing, warranties and GAP, and CarStory revenue, as well as segment-level performance for UACC, CarStory and corporate. Vroom’s news also covers liquidity metrics, warehouse credit facility extensions and amendments, securitization transactions, and new credit or note purchase agreements that support its long-term business strategy.
Other notable announcements include updates on the relisting of Vroom’s common stock on the Nasdaq Global Market under the VRM ticker, the trading of its warrants on the OTCQX Best Market under the symbol "VRMMW", and the wind-down of its former ecommerce used vehicle dealership business under a Value Maximization Plan. Investors, analysts and market watchers can use this news feed to monitor Vroom’s restructuring progress, financing arrangements, segment results and strategic priorities over time.
Vroom, Inc. (Nasdaq: VRM) reported financial results for Q4 and fiscal year 2022, highlighting significant cost reductions and operational improvements. Q4 saw a gross profit per unit decline to $1,233 from $4,206 in Q3, attributed to increased sales of aged units, industry-wide depreciation, and higher inventory reserves. Net income was $24.8 million compared to a loss of $51.1 million in Q3. Despite an annual net loss of $451.9 million, Vroom improved liquidity by repurchasing $198 million in convertible notes. The company anticipates a return to growth in 2023, focusing on enhancing customer experience and optimizing operational processes.
Vroom, Inc. (NASDAQ: VRM) will announce its fourth quarter and full year financial results for 2022 after market close on
Vroom, Inc. (Nasdaq: VRM) announced on December 13, 2022, that its Board’s Compensation Committee approved the grant of 224,275 inducement restricted stock units to 49 non-executive employees as part of its 2022 Inducement Award Plan. The awards will vest in equal increments over three years, contingent on continued employment. This initiative aims to attract talent to Vroom and supports the company's commitment to fostering a robust workforce while adhering to Nasdaq listing rules.
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.
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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
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.
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