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Sep 30, 2021
Vroom Q3 2021 Earnings Report
Vroom delivered record ecommerce units and gross profit.
Key Takeaways
Vroom reported a strong third quarter with triple digit year-over-year growth in ecommerce units and gross profit. The company sold 19,683 ecommerce units, a 123% increase year-over-year, and achieved ecommerce revenue of $701.7 million, up 216% year-over-year.
Ecommerce units sold increased by 123% year-over-year to 19,683.
Ecommerce revenue increased by 216% year-over-year to $701.7 million.
Ecommerce gross profit increased by 161% year-over-year to $50.4 million.
Vroom entered into a definitive agreement to acquire United Auto Credit Corporation (UACC).
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 fourth quarter 2021, Vroom expects total revenue of $865 to $900 million and total gross profit of $50 to $58 million.
Positive Outlook
- Ecommerce unit sales of 20,000 to 20,500, implying year over year growth of 84% at the mid-point of the guidance range.
- Average ecommerce selling price per unit of $35,000 to $36,000.
- Average ecommerce gross profit per unit of $2,100 to $2,300.
- Wholesale unit sales of 6,500 to 7,500.
- Average selling price per unit of $13,000 to $14,000 and average gross profit per unit of $550 to $750.
Challenges Ahead
- TDA unit sales of 1,500 to 1,600.
- Average selling price per unit of $35,000 to $36,000.
- Average gross profit per unit of $1,800 to $2,000.
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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