Vroom

Vroom, Inc. engages in providing an ecommerce platform for the buying and selling of used vehicles. The company operates through the following segments: Ecommerce, Texas Direct Auto (TDA) and Wholesale. The Ecommerce segment represents retail sales of used vehicles through its ecommerce platform and fees earned on sales of value-added products associated with those vehicles sales. The TDA segment handles retail sales of used vehicles from TDA and fees earned on sales of value-added products associated with those vehicles sales. The Wholesale segment is involved in sales of used vehicles through wholesale auctions. The company was founded by Kevin P. Westfall, Elie C. Wurtman, Allon Bloch, Mike Welch, Richard Williams and Marshall Chesrown in 2012 and is headquartered in Houston, TX.

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Vroom focuses on cost reduction and efficiency amidst profitability challenges

Vroom's Q4 2022 performance reflects a mixed financial picture with a focus on cost reduction and operational efficiency.
While facing profitability challenges, the company's strategic strengths lie in liquidity maximization and cost optimization efforts.
Opportunities for growth and transformation exist through continued cost reduction and improving unit economics.
Navigating challenges such as GPPU pressure and profitability concerns will be key for Vroom's future financial success.

Vroom reports improved Q1 performance, eyes growth opportunities ahead

Vroom's Q1 performance reflects progress in financial metrics and operational efficiency.
Strategic initiatives to optimize cost structures and enhance liquidity position Vroom for growth.
Challenges in managing gross profit per unit and market uncertainties require strategic focus.
Opportunities lie in resuming growth, improving cost structures, and maximizing stakeholder value.

Vroom reports Q2 revenue of $225M with focus on cost reduction and growth strategies

Vroom's Q2 2023 earnings call highlights a mixed financial performance with a focus on cost reduction and strategic growth initiatives. The company aims to balance growth with financial discipline while optimizing operations for long-term success.

Vroom reports Q3 loss, focuses on efficiency and growth opportunities

Vroom's Q3 performance reflects growth in e-commerce units, improved GPPU, and operational efficiency.
Despite challenges in operating at a loss, strategic initiatives and cost reductions demonstrate progress.
Opportunities lie in scaling the business, enhancing unit economics, and leveraging data assets for future growth.

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Vroom, Inc. engages in providing an ecommerce platform for the buying and selling of used vehicles. The company operates through the following segments: Ecommerce, Texas Direct Auto (TDA) and Wholesale. The Ecommerce segment represents retail sales of used vehicles through its ecommerce platform and fees earned on sales of value-added products associated with those vehicles sales. The TDA segment handles retail sales of used vehicles from TDA and fees earned on sales of value-added products associated with those vehicles sales. The Wholesale segment is involved in sales of used vehicles through wholesale auctions. The company was founded in 2012 and is headquartered in Houston, TX.

Automotive finance company and digital services platform Vroom filed for Chapter 11 bankruptcy Wednesday (Nov. 13), saying in a filing with the Securities and Exchange Commission (SEC) that it plans to operate its business as a “debtor-in-possession” under the jurisdiction of the bankruptcy court.

Vroom Files for Bankruptcy, Says Subsidiaries Not Expected to Follow

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) today announced financial results for the third quarter ended September 30, 2024. HIGHLIGHTS OF THIRD QUARTER 2024 $51.1 million cash and cash equivalents as of September 30, 2024 $32.9 million of liquidity available to UACC under the warehouse credit facilities $(37.7) million net loss from continuing operations $(25.5) million Adjusted EBITDA1 Entered into an agreement to restructure $290 million of unsecured convertible notes, into equity t.

Vroom Announces Third Quarter 2024 Results

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM), a leading automotive finance company and an AI-powered analytics and digital services platform for automotive retail, today announced that it has made the strategic decision to enter into a Restructuring Support Agreement (RSA) with holders of an overwhelming majority of its outstanding funded debt and its largest stockholder. The parties to the RSA have agreed to pursue a comprehensive transaction that will restructure Vroom, Inc.'s outstan.

Vroom Announces Equity-for-Debt Recapitalization

In a move to redefine its future, used car digital marketplace Vroom on Tuesday (Sept. 23) said it completed the wind-down of its eCommerce and used vehicle dealership operations and released a long-term strategic plan leveraging its assets like United Auto Credit Corporation (UACC), a leading automotive finance company; and CarStory, a leader in AI-powered analytics and digital services for automotive retail.

Vroom Shifts Focus to Core Assets and Future Growth

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM) today released an investor presentation (the “Investor Presentation”) which includes the Company's long-term strategic plan and key initiatives. A copy of the Investor Presentation is available at ir.vroom.com. On January 22, 2024, the Company announced a Value Maximization Plan, pursuant to which the Company discontinued its ecommerce operations and wound down its used vehicle dealership. Since the announcement in January, the Company has be.

Vroom Released Long-term Strategic Plan

WOODBURY, Minn.--(BUSINESS WIRE)--Patron Points (www.patronpoints.com), a leader in convenience store loyalty and mobile app development has partnered with Vroom Delivery (www.vroomdelivery.tech), a digital commerce platform for convenience stores, to offer single sign-on age verification across their platforms. With this partnership, a customer is able to age verify one time in their convenience stores mobile app and seamlessly order their favorite items including age restricted items like tob.

Patron Points Partners with Vroom Delivery to Offer Single Sign-On Age Verification

Earnings were everywhere this past week, propelling the CE 100 Index 4.7% higher, and any losses seen among our names were negligible.  In fact, most of those declining stocks slipped less than 1%, except Tencent, which was down double digits.

CE 100 Index Surges 4.7% as Vroom Steers Toward Double-Digit Growth

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) today announced financial results for the second quarter ended June 30, 2024. HIGHLIGHTS OF SECOND QUARTER 2024 $63.4 million cash and cash equivalents as of June 30, 2024 $34.0 million of liquidity available to UACC under the warehouse credit facilities $(19.1) million net loss from continuing operations $(7.5) million Adjusted EBITDA Successfully Completed UACC Securitization Transaction in April 2024 Tom Shortt, the Company's Chief Executiv.

Vroom Announces Second Quarter 2024 Results

Don't bet against the American consumer, an old saying goes. That wisdom was borne out this spring and summer, when wagering against them would have been a mistake.

Vroom: Main engine of U.S. economy — consumers — showing no sign of sputtering

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM) today 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. About Vroom (Nasdaq: VRM) Vroom owns and operates United Auto Credit Corporation (UACC), a leading automotive lender serving the independent and franchise dealer market nationwide, and CarStory, a leader in AI-powered analytics and digital services for automotive retail. During fiscal 202.

Vroom to Release Second Quarter 2024 Earnings on August 8, 2024

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Bill Gates just updated his stock portfolio

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) today announced financial results for the first quarter ended March 31, 2024. HIGHLIGHTS OF FIRST QUARTER 2024 $91.0 million cash and cash equivalents as of March 31, 2024 $(44.7) million net loss from continuing operations $(32.2) million Adjusted EBITDA Substantially completed the ecommerce wind-down Adopted new reporting segments to align with continuing operations at United Auto Credit (UACC) and CarStory Tom Shortt, the Company's Chief Ex.

Vroom Announces First Quarter 2024 Results

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM) today announced that it will release its financial results for the first quarter ending March 31, 2024, after the market closes on Thursday, May 9, 2024. About Vroom (Nasdaq: VRM) Vroom owns and operates United Auto Credit Corporation (UACC), a leading automotive lender serving the independent and franchise dealer market nationwide, and CarStory, a leader in AI-powered analytics and digital services for automotive retail. During fiscal 2023,.

Vroom to Release First Quarter 2024 Earnings on May 9, 2024

Convenience store commerce platform Vroom Delivery has launched a partnership with payment processor Finix. The collaboration, announced Monday (April 8), is centered around the creation of a new tool called Pay360, which the companies say is the first online payment solution designed for the convenience store sector, allowing for the secure online sale of age-restricted products.

Vroom Delivery and Finix Team on Convenience Store Payments

Vroom completed the previously announced wind-down of its eCommerce and used vehicle dealership businesses. The company ended transactions through vroom.com, completed previously contracted transactions, sold “substantially all” of its used vehicle inventory and paid off a vehicle floorplan financing facility, Vroom said in a Thursday (April 4) filing with the Securities and Exchange Commission.

Vroom Completes Wind-Down of eCommerce, Used Vehicle Dealership Businesses

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From unicorns to near zero: RENT, Allbirds, Vroom, and BuzzFeed

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Carvana, Vroom, BuzzFeed, Encore Wire - Getting Paid To Take Risks With Courage & Conviction Investing

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) today announced financial results for the fourth quarter and fiscal year ended December 31, 2023. HIGHLIGHTS OF FOURTH QUARTER AND FULL YEAR 2023 $135.6 million cash and cash equivalents as of December 31, 2023 4,780 and 17,401 Ecommerce units sold for the fourth quarter and full year, respectively, representing third consecutive quarter of Ecommerce unit growth $4,742 and $3,403 Ecommerce gross profit per unit (GPPU) for the fourth quarter an.

Vroom Announces Fourth Quarter and Full Year 2023 Results

One of today's most impressive movers happens to be Vroom (NASDAQ: VRM ). Shares of the used car company have skyrocketed in today's session, with VRM stock up more than 25% at the time of writing.

Why Is Vroom (VRM) Stock Up 25% Today?

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM) today announced that it will release its financial results for the fourth quarter and fiscal year ended December 31, 2023 after the market closes on Wednesday, March 13, 2024. About Vroom (Nasdaq: VRM) Vroom owns and operates United Auto Credit Corporation (UACC), a leading automotive lender serving the independent and franchise dealer market nationwide, and CarStory, a leader in AI-powered analytics and digital services for automotive retail.

Vroom to Release Fourth Quarter and Fiscal Year 2023 Earnings on March 13, 2024

Vroom (VRM) announces the discontinuation of its e-commerce operations and winding down of its used vehicle dealership business.

Vroom (VRM) Discontinues E-commerce Used Vehicle Operations

Vroom is shutting down its online used car marketplace and shifting all of its resources and capital into two business units focused on auto financing and AI-powered analytics. About 800 employees, or 90% of its workforce, will lose their jobs as a result, according to a regulatory filing.

Vroom hits the brakes on its online used car business to go full throttle on auto financing and AI

Vroom (NASDAQ: VRM ) stock is plunging over 40% in early trading after the used-car retailer announced that it had suspended its e-commerce business. Moreover, the firm disclosed that it would be “winding down” its dealerships and laying off 90% of its employees.

VRM Stock Alert: Once-Hot Vroom Is Winding Down Operations

Vroom (NASDAQ: VRM ) stock is falling on Tuesday after the used-car selling and buying e-commerce company announced plans to wind down its business. A press release from Vroom reveals that it will discontinue its e-commerce operations while winding down its used vehicle dealership business.

Why Is Vroom (VRM) Stock Down 44% Today?

Shares of vehicle e-commerce platform Vroom (VRM) plunged over 50% ahead of the opening bell Tuesday after the company said it plans to discontinue its e-commerce operations and wind down its used vehicle dealership business to shore-up its liquidity and maximize stakeholder value.

News for Vroom Stock (VRM)