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Jun 30, 2023
Vroom Q2 2023 Earnings Report
Vroom's financial performance showed progress with increased Ecommerce units and GPPU, alongside reduced net loss and Adjusted EBITDA.
Key Takeaways
Vroom reported a 5% sequential growth in Ecommerce units, marking the first quarter with such growth since introducing the Long-Term Roadmap in Q2 2022. Ecommerce GPPU increased to $2,954, and the company reduced its net loss to $(66.3) million. Adjusted EBITDA also improved to $(56.3) million. The company is focused on cost reductions and strengthening its balance sheet.
Ecommerce units grew 5% sequentially, the first growth since Q2 2022.
Ecommerce GPPU increased to $2,954 from $2,552 in Q1 2023.
Net loss decreased to $(66.3) million from $(75.0) million in the previous quarter.
Adjusted EBITDA improved to $(56.3) million from $(64.8) million in the previous quarter.
Vroom
Vroom
Vroom Revenue by Segment
Revenue by Segment
Ecommerce Revenue
CapyFin.comWholesale Revenue
CapyFin.com Forward Guidance
Vroom updated its full year 2023 guidance to reflect an improved outlook on Adjusted EBITDA performance and convertible note repurchases.
Positive Outlook
- Adjusted EBITDA of $(225.0) to $(200.0) million.
- Year-end cash and cash equivalents of $137.0 to $187.0 million.
- Reflecting $13.0 million of convertible note repurchases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income