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Dec 31, 2020
Vroom Q4 2020 Earnings Report
Vroom reported strong fourth quarter results, with significant year-over-year growth in ecommerce business.
Key Takeaways
Vroom, Inc. announced financial results for the fourth quarter and fiscal year ended December 31, 2020. The company delivered record ecommerce units and gross profit. Quarterly and FY 2020 Ecommerce Unit Sales were up 74% and 82% YoY, respectively. Quarterly and FY 2020 Ecommerce Gross Profit was up 95% and 89% YoY, respectively.
Ecommerce units sold increased 74% year-over-year.
Ecommerce revenue increased 43% year-over-year.
Ecommerce gross profit increased 95% year-over-year.
Total revenue increased 14.1% year-over-year.
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 expects triple digit year-over-year growth in ecommerce unit sales and more than 200% year-over-year growth in aggregate gross profit. For the first quarter 2021, Vroom expects total revenue of $500 to $529 million and total gross profit of $24 to $28 million.
Positive Outlook
- Ecommerce unit sales of 14,000 to 14,500, implying year over year growth of 80% at the middle of the guidance range.
- Average ecommerce selling price per unit of $25,000 to $26,000 and average ecommerce gross profit per unit of $1,750 to $1,850.
- Wholesale unit sales of 7,000 to 8,000, average selling price per unit of $12,000 to $13,000.
- TDA unit sales of 1,400 to 1,500, average selling price per unit of $25,000 to $26,000 and average gross profit per unit of $1,300 to $1,400.
- Stock-based compensation expense of $3.7 million.
Challenges Ahead
- Wholesale average gross loss per unit of $(450) to $(600).
- EBITDA of $(80) to $(88) million.
- Net loss per share of $(0.61) to $(0.68).
- The foregoing estimates are forward-looking statements that reflect the Company’s expectations as of March 3, 2021 and are subject to substantial uncertainty.
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures for our first quarter 2021 Financial Outlook is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, these costs and expenses that may be incurred in the future.
Revenue & Expenses
Visualization of income flow from segment revenue to net income