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Mar 31, 2021
Vroom Q1 2021 Earnings Report
Vroom delivered record results driven by exceptional growth and improving unit economics.
Key Takeaways
Vroom reported record first-quarter results with total gross profit nearly doubling compared to the same period last year. Ecommerce unit sales increased by 96% year-over-year, and ecommerce revenue rose by 81% to $422.3 million. The company completed the acquisition of the CarStory business during the quarter.
Ecommerce units sold increased 96% year-over-year to 15,504.
Ecommerce revenue increased 81% year-over-year to $422.3 million.
Ecommerce gross profit increased 123% year-over-year to $31.8 million.
Completed the acquisition of CarStory business
Revenue by Segment
Forward Guidance
For the full year 2021, Vroom continues to expect triple digit year-over-year growth in ecommerce unit sales and more than 200% year-over-year growth in aggregate gross profit. For the second quarter 2021, Vroom expects total revenue of $618 to $640 million and total gross profit of $54 to $59 million.
Positive Outlook
- Ecommerce unit sales of 17,500 to 18,000, implying year over year growth of 164% at the middle of the guidance range.
- Average ecommerce selling price per unit of $27,000 to $28,000 and average ecommerce gross profit per unit of $2,500 to $2,600.
- Wholesale unit sales of 7,500 to 8,000, average selling price per unit of $10,000 to $11,000 and average gross profit per unit of $800 to $900.
- TDA unit sales of 1,400 to 1,500, average selling price per unit of $27,000 to 28,000 and average gross profit per unit of $2,000 to $2,100.
- Total revenue of $618 to $640 million.
Challenges Ahead
- Total gross profit of $54 to $59 million.
- EBITDA of $(70) to $(61) million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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