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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).
Vroom
Vroom
Vroom Revenue by Segment
Revenue by Segment
Ecommerce Revenue
CapyFin.comTDA Revenue
CapyFin.comWholesale Revenue
CapyFin.com 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.
- Adjusted EBITDA of $(104) to $(95) million.
- Net loss per share, as adjusted of $(0.77) to $(0.70).
Revenue & Expenses
Visualization of income flow from segment revenue to net income