Vroom Sees Sales Plummet, Adjusted EBITDA Go Negative in Q3

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Vroom Sees Sales Plummet, Adjusted EBITDA Go Negative in Q3

Seeking Alpha2022-11-08

Vroom (NASDAQ:VRM) missed estimates on both lines of itsQ3earnings report as the tough stretch for the company continued. Sales were down 62% year-over-year and an adjusted EBITDA loss of -$57.5M was ...

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Baoxiaolong
·2022-11-08
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clingling
·2022-11-08
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Sales were down 62% year-over-year and an adjusted EBITDA loss of -$57.5M was ...</p>\n\n<a href=\"https://seekingalpha.com/news/3903155-vroom-sees-sales-plummet-adjusted-ebitda-go-negative-in-q3\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vroom Sees Sales Plummet, Adjusted EBITDA Go Negative in Q3</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVroom Sees Sales Plummet, Adjusted EBITDA Go Negative in Q3\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-08 07:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3903155-vroom-sees-sales-plummet-adjusted-ebitda-go-negative-in-q3><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Vroom (NASDAQ:VRM) missed estimates on both lines of itsQ3earnings report as the tough stretch for the company continued. 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Sales were down 62% year-over-year and an adjusted EBITDA loss of -$57.5M was disclosed after excludingnon-recurring costs.</p><p>The online used auto retailer reported a 67% drop in total units for Q3, with declines across both the e-commerce and wholesales segments.</p><p>Gross profit per wholesale unit was up 64.3% to $4,206, while gross report per wholesale unit fell to -$503 from $215 a year ago.</p><p>CEO Tom Shortt noted that for the month of October, 98% of VRM&#39;s customers received their completed registrations before the expiration of their initial temporary tags. Vroom (VRM) plans to continue to focus on achieving its goal of becoming best-in-class in titling and registration.</p><p>CFO update: &#34;We took several actions to maximize liquidity and strengthen our balance sheet, including unlocking $59 million of restricted cash, repurchasing a portion of our convertible notes and completing our second securitization since the acquisition of UACC. Based on our progress, we are forecasting year-end cash liquidity near the midpoint of our previous guidance of $450 to $565 million.&#34;</p><p>Despite the earnings miss, shares of Vroom (VRM) moved up 13.19% in after-hours trading to $1.03.</p><p><img src=\"https://static.tigerbbs.com/5921d7bb9360ab43b7330aef45587266\" tg-width=\"842\" tg-height=\"617\" width=\"100%\" height=\"auto\"/></p><p>Vroom (VRM) still trades more than 60% below its 200-day moving average.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vroom Sees Sales Plummet, Adjusted EBITDA Go Negative in Q3</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVroom Sees Sales Plummet, Adjusted EBITDA Go Negative in Q3\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-08 07:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3903155-vroom-sees-sales-plummet-adjusted-ebitda-go-negative-in-q3><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Vroom (NASDAQ:VRM) missed estimates on both lines of itsQ3earnings report as the tough stretch for the company continued. Sales were down 62% year-over-year and an adjusted EBITDA loss of -$57.5M was ...</p>\n\n<a href=\"https://seekingalpha.com/news/3903155-vroom-sees-sales-plummet-adjusted-ebitda-go-negative-in-q3\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VRM":"Vroom, Inc."},"source_url":"https://seekingalpha.com/news/3903155-vroom-sees-sales-plummet-adjusted-ebitda-go-negative-in-q3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185022951","content_text":"Vroom (NASDAQ:VRM) missed estimates on both lines of itsQ3earnings report as the tough stretch for the company continued. Sales were down 62% year-over-year and an adjusted EBITDA loss of -$57.5M was disclosed after excludingnon-recurring costs.The online used auto retailer reported a 67% drop in total units for Q3, with declines across both the e-commerce and wholesales segments.Gross profit per wholesale unit was up 64.3% to $4,206, while gross report per wholesale unit fell to -$503 from $215 a year ago.CEO Tom Shortt noted that for the month of October, 98% of VRM's customers received their completed registrations before the expiration of their initial temporary tags. Vroom (VRM) plans to continue to focus on achieving its goal of becoming best-in-class in titling and registration.CFO update: \"We took several actions to maximize liquidity and strengthen our balance sheet, including unlocking $59 million of restricted cash, repurchasing a portion of our convertible notes and completing our second securitization since the acquisition of UACC. Based on our progress, we are forecasting year-end cash liquidity near the midpoint of our previous guidance of $450 to $565 million.\"Despite the earnings miss, shares of Vroom (VRM) moved up 13.19% in after-hours trading to $1.03.Vroom (VRM) still trades more than 60% below its 200-day moving average.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9987807867,"gmtCreate":1667865591359,"gmtModify":1676537975322,"author":{"id":"3586829232043276","authorId":"3586829232043276","name":"clingling","avatar":"https://static.tigerbbs.com/6ac8266443879ca0b9b00e68416a1244","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3586829232043276","idStr":"3586829232043276"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9987807867","repostId":1185022951,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104703921,"gmtCreate":1667865599332,"gmtModify":1667865612448,"authorId":3586829232043276,"author":{"id":3586829232043276,"idStr":"3586829232043276","authorId":3586829232043276,"name":"clingling","avatar":"https://static.tigerbbs.com/6ac8266443879ca0b9b00e68416a1244","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9987807867,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">@@</span>","text":"<span class=\"s1\">@@</span>","html":"<span class=\"s1\">@@</span>"}],"langContent":"EN"},{"id":9987804808,"gmtCreate":1667865495804,"gmtModify":1676537975290,"author":{"id":"4097376940126320","authorId":"4097376940126320","name":"candyysk","avatar":"https://static.itradeup.com/news/64f60d94f5bea7832236facc0943ab72","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4097376940126320","idStr":"4097376940126320"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9987804808","repostId":1185022951,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":85,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}