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Jun 30, 2024
Vroom Q2 2024 Earnings Report
Vroom's financial performance reflected continued progress on operational initiatives and improved portfolio performance at UACC.
Key Takeaways
Vroom reported a net loss from continuing operations of $(19.1) million for Q2 2024. The company's cash and cash equivalents stood at $63.4 million as of June 30, 2024, with $34.0 million of liquidity available to UACC under the warehouse credit facilities. The company is focused on improving processes and technology, digitization and automation, and reducing costs across the business.
Cash and cash equivalents totaled $63.4 million as of June 30, 2024.
Liquidity of $34.0 million was available to UACC under the warehouse credit facilities.
Net loss from continuing operations was $(19.1) million.
Adjusted EBITDA was $(7.5) million.
Forward Guidance
Vroom expects originations since early 2023 to perform at pre-pandemic levels and are beginning to see positive impacts of our prior decision to tighten credit, resulting in improvements in credit losses compared to the prior quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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