Vroom, Inc. (VRM) Earnings
Vroom, Inc. is expected to report next earnings on August 6, 2026 (in NaN days). VRM has beaten EPS estimates in 4 of its last 8 reported quarters (average surprise -13.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | — | $-3.61 | — | $25M | — |
| Mar 26, 2026 | — | $-1.95 | — | $28M | — |
| Aug 7, 2025 | — | $-1.73 | — | $22M | — |
| Mar 11, 2025 | — | $-20.15 | — | $3M | — |
| Aug 8, 2024 | $-36.80 | $-10.61 | +71.2% | $9M | -96.2% |
| May 10, 2024 | $-29.60 | $-24.90 | +15.9% | $-2M | -100.8% |
| Mar 13, 2024 | $-29.60 | $-80.51 | -172.0% | $236M | +1.7% |
| Feb 28, 2023 | $-54.40 | $-37.60 | +30.9% | $209M | -21.9% |
| Feb 28, 2022 | $-61.60 | $-75.20 | -22.1% | $934M | +3.6% |
| Aug 11, 2021 | $-38.40 | $-38.40 | +0.0% | $762M | +17.0% |
| May 12, 2021 | $-50.40 | $-45.60 | +9.5% | $591M | -8.7% |
| Mar 3, 2021 | $-29.60 | $-35.20 | -18.9% | $406M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2023 · November 8, 2023
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Continued working towards resuming growth, selling aged inventory, and improving variable and fixed costs per unit. - Third quarter highlights: adjusted EBITDA loss of $64.5 million, e-commerce units up 11% sequentially, e-commerce GPPU increased to $3,144, progress on strategic initiatives including reducing SG&A, improving GPPU through better unit mix, and making progress on long-term roadmap. - Reduced adjusted SG&A by $3.1 million sequentially with 11% increase in unit volume. Made changes in underwriting criteria at UACC expected to improve delinquency trends.
Guidance
- Updated full-year 2023 adjusted EBITDA loss guidance to $225 million to $245 million, driven by higher realized losses and unfavorable mark-to-market at UACC. - Year-end cash and cash equivalents guidance revised to $137 million to $162 million. - Expect potential additional liquidity from securitization proceeds, with year-end midpoint liquidity possibly up to $230 million if securitization proceeds are realized.
Segment performance
Total revenue for the third quarter was $236 million, a 5% increase with e-commerce units growing approximately 11% sequentially. E-commerce GPPU increased from $2,954 to $3,144 sequentially. Adjusted EBITDA loss was $64.5 million, an $8.2 million sequential increase. The loss was impacted by higher realized net losses and unfavorable mark-to-market on finance receivables at UACC. Cash and inventory recovered by approximately $48 million during the quarter.
Risks & headwinds
- Legacy titling and registration issues causing significant costs, aged inventory, and impact on GPPU. - Macroeconomic factors like high inflation, higher interest rates, degraded credit performance, and used vehicle valuation volatility affecting UACC portfolio performance. - Underwriting changes at UACC taking time to materialize in improved portfolio performance.
Analyst Q&A
Q: Asked about UACC losses, progression of other loss item, and breakout between Vroom and UACC portfolios. Also asked about navigating choppy backdrop and recapitalization options.
A: Bob Krakowiak explained the loss was from higher realized and mark-to-market on UACC portfolio, Tom Shortt mentioned pursuing raising capital to scale the business. Bob added UACC made underwriting changes with initial improvement but time needed for results to materialize.
Q: Asked about aged inventory process, progress heading into 2024.
A: Tom Shortt stated aged inventory is down to a few hundred cars or less, with mix improving sequentially, and little material aged inventory left going into 2024