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.

Vroom, the parent company of automotive financing group United Auto Credit Corporation (UACC), faces a reckoning when US markets open on Tuesday. Its market value was effectively slashed in half in pre-market trades after the Houston-based business announced that its ecommerce platform for buying and selling used vehicles is to be shuttered.

Vroom faces reckoning after shuttering ecommerce business

Vroom is winding down its eCommerce operations and discontinuing its used vehicle dealership business.  The company aims to preserve liquidity and maximize stakeholder value through its remaining businesses, Vroom said in a Monday (Jan. 22) press release.

Vroom Exiting Car Sales, Focusing on Finance and AI Services

Vroom Inc., once valued at a heady $2.5 billion, said Monday it is winding down its online used-car sales business in order to preserve liquidity, as its market cap has dwindled to less than $100 million.

This once-mighty Carvana competitor just announced it is winding down operations

HOUSTON--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) (Vroom, or the Company), a leading ecommerce platform for buying and selling used vehicles, today announced that it is discontinuing its ecommerce operations and winding down its used vehicle dealership business in order to preserve liquidity and enable the Company to maximize stakeholder value through its remaining businesses. Vroom owns and operates United Auto Credit Corporation (UACC), a leading automotive finance company, and CarStory, a l.

Vroom Announces Wind-Down of Ecommerce Used Vehicle Operations

HOUSTON--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM) (“Vroom,” the “Company,” “us,” “we” and “our”), a leading e-commerce platform for buying and selling used vehicles, today announced it has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (the “SEC”) regarding a special stockholders' meeting to be held on February 5, 2024, at 11:00 a.m., Eastern time (the “Special Meeting”), to authorize Vroom's Board of Directors (the “Board”) to effect a reverse stock spli.

Vroom Files Preliminary Proxy Statement for Reverse Stock Split

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM), a leading e-commerce platform for buying and selling used vehicles, announced today that Tom Shortt, Chief Executive Officer, has been recognized by Auto Finance News as one of its Executives to Watch in 2024, a recognition the publication has been making based on experience, leadership, vision and ability to shake up the industry with an innovative, forward-thinking approach to auto finance. “This recognition is a testament to the commitmen.

Vroom CEO Named Executive to Watch in 2024 by Auto Finance News

HOUSTON--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM), (“Vroom” or the “Company) a leading e-commerce platform for buying and selling used vehicles, today announced it has filed a prospectus supplement with the U.S. Securities and Exchange Commission (the “SEC”) under which it may offer and sell from time to time and at its discretion shares of its common stock having an aggregate offering price of up to $50.0 million pursuant to an “at the market” offering program (the “ATM Program”). There can.

Vroom Announces “At The Market” (ATM) Equity Offering Program

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM), a leading e-commerce platform for buying and selling used vehicles, today reported that on November 18, 2023, the Compensation Committee of Vroom's Board of Directors approved the grant of inducement restricted stock unit awards covering 96,925 shares of Vroom's common stock to 11 employees of Vroom and its affiliates to induce them to join as employees of Vroom and its affiliates. The awards were granted under Vroom's 2022 Inducement Award.

Vroom Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Vroom, Inc. (NASDAQ:VRM ) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET Company Participants Jon Sandison – Vice President-Investor Relations Tom Shortt – Chief Executive Officer Bob Krakowiak – Chief Financial Officer Conference Call Participants Rajat Gupta – J.P. Morgan Operator Good day, and thank you for standing by.

Vroom, Inc. (VRM) Q3 2023 Earnings Call Transcript

The headline numbers for Vroom (VRM) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Here's What Key Metrics Tell Us About Vroom (VRM) Q3 Earnings

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM), a leading ecommerce platform for buying and selling used vehicles, today announced financial results for the third quarter ended September 30, 2023. HIGHLIGHTS OF THIRD QUARTER 2023 VERSUS SECOND QUARTER 2023 11% sequential growth in Ecommerce units $3,144 Ecommerce gross profit per unit (GPPU) as compared to $2,954 Continued reductions in fixed costs per unit as well as per unit costs across marketing, logistics, and titling and registration.

Vroom Announces Third Quarter 2023 Results

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM), a leading automotive ecommerce platform dedicated to improving the buying and selling of used vehicles, announced today the company is partnering with the state of West Virginia to launch its National Digital Title Clearinghouse (NDTC). As the only retailer with access to this digital title clearinghouse, Vroom will be able to transfer out-of-state titles into the company's name and significantly reduce the timeline for processing them. “Vroo.

Vroom Partners with West Virginia DMV To Reduce Wait Time for Vehicle Titles

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM), a leading e-commerce platform for buying and selling used vehicles, today announced that it will release its financial results for the third quarter ending September 30, 2023, after the market closes on Tuesday, November 7, 2023. Vroom management will discuss these results and other information regarding the Company during a conference call and audio webcast on Wednesday, November 8, 2023 at 8:30 a.m. ET. To access the conference call, pleas.

Vroom to Release Third Quarter 2023 Earnings on November 7, 2023

Vroom faces financial concerns and liquidity issues, with a market capitalization well below its book value. In 2023, Vroom undertook strategic changes, including workforce reduction and a shift to an in-house sales model, aiming to improve customer experience and reduce costs. The company's revenue streams are complex, with high-margin sectors in product and finance offset by negative margins in wholesale vehicle sales.

Is Vroom A Buy? Unpacking Its Strategic Pivot

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Vroom, Inc. (NASDAQ:VRM ) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET Company Participants Jon Sandison - VP, IR Tom Shortt - CEO Bob Krakowiak - CFO Conference Call Participants Sharon Zackfia - William Blair Operator Thank you for standing by and welcome to Vroom's Second Quarter 2023 Earnings Call. At this time, all participants are in a listen only mode.

Vroom, Inc. (VRM) Q2 2023 Earnings Call Transcript

Although the revenue and EPS for Vroom (VRM) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Vroom (VRM) Reports Q2 Earnings: What Key Metrics Have to Say

Vroom (VRM) came out with a quarterly loss of $0.48 per share versus the Zacks Consensus Estimate of a loss of $0.51. This compares to loss of $0.73 per share a year ago.

Vroom (VRM) Reports Q2 Loss, Tops Revenue Estimates

NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM), a leading ecommerce platform for buying and selling used vehicles, today announced financial results for the second quarter ended June 30, 2023. HIGHLIGHTS OF SECOND QUARTER 2023 VERSUS FIRST QUARTER 2023 5% sequential growth in Ecommerce units - first quarter with sequential growth since the introduction of the Long-Term Roadmap in Q2 2022 $2,954 Ecommerce gross profit per unit (GPPU) as compared to $2,552 $(66.3) million net loss as compare.

Vroom Announces Second Quarter 2023 Results

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Vroom (VRM) Shows Fast-paced Momentum But Is Still a Bargain Stock

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NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM), a leading e-commerce platform for buying and selling used vehicles, today announced that it will release its financial results for the second quarter ending June 30, 2023, after the market closes on Tuesday, August 8, 2023. Vroom management will discuss these results and other information regarding the Company during a conference call and audio webcast on Wednesday, August 9, 2023 at 8:30 a.m. ET. To access the conference call, please regist.

News for Vroom Stock (VRM)