AUTO - AUTO STOCK NEWS

AutoWeb, Inc. (Nasdaq: AUTO) reported Q3 2021 financial results, revealing total revenues of $17.2 million, a decline from $17.8 million year-over-year. Gross profit also decreased to $4.4 million, with a gross margin of 25.8%. The net loss widened to $(3.1) million or $(0.23) per share. The company continues to face supply chain challenges affecting demand for lead products. Despite these headwinds, they reported growth in lead traffic and are expanding their used vehicle acquisition capabilities following the CarZeus acquisition.

AutoWeb, Inc. (Nasdaq: AUTO) will host a conference call on November 4, 2021, at 5:00 p.m. ET to discuss its financial results for Q3 2021. The call will feature AutoWeb's President & CEO Jared Rowe and CFO Mike Sadowski, followed by a Q&A session. Investors can join the call via phone or online. Additionally, the company reminds shareholders about its Tax Benefit Preservation Plan, which is aimed at protecting its net operating loss carryforwards of approximately $104.1 million. This plan seeks to prevent ownership changes that could limit the use of these tax attributes.

AutoWeb (Nasdaq: AUTO) announced a research report validating the effectiveness of its click traffic generation product, conducted by Brian Pasch Enterprises (BPE). The report highlights high engagement levels among in-market vehicle buyers, demonstrating that AutoWeb's traffic delivers better quality and value than traditional Google SEM campaigns. Dealers can expect significantly higher quality interactions and lower costs, with AutoWeb’s services being up to 50% cheaper than competitors. This reinforces AutoWeb's commitment to enhancing dealer sales performance through targeted marketing strategies.

AutoWeb, Inc. (Nasdaq: AUTO) reported Q2 2021 financial results showing revenue growth of 10% year-over-year to $18.7 million, driven by traffic acquisition efficiencies. Gross profit increased 9% to $6.6 million, with a gross margin of 35%. Despite a net loss of $0.3 million, adjusted EBITDA surged to $1 million. The company acquired CarZeus assets, enhancing its retail-ready components and growth potential. However, challenges from supply shortages and the termination of a key relationship with FordDirect may impact future performance.

AutoWeb, Inc. has acquired the assets of CarZeus for $400K in an all-cash transaction, enhancing its capabilities in the used vehicle market. This strategic move aims to extend AutoWeb's reach beyond San Antonio, capitalizing on its efficient traffic acquisition and management expertise. The acquisition is projected to increase AutoWeb’s market share in the fragmented used vehicle disposal sector, valued at approximately $230 billion annually. Company executives will discuss this development in an earnings call scheduled for August 5, 2021.

AutoWeb, Inc. (Nasdaq: AUTO) will hold a conference call on August 5, 2021, at 5:00 p.m. ET to discuss its Q2 financial results for the period ending June 30, 2021. The call will be hosted by President & CEO Jared Rowe and CFO Mike Sadowski. A replay will be available post-call through August 12, 2021. The company also reminds shareholders of its Tax Benefit Preservation Plan, aimed at protecting approximately $104.1 million in net operating loss carryforwards, which could be threatened by ownership changes under Section 382 of the Internal Revenue Code.

AutoWeb, Inc. (Nasdaq: AUTO) released insights confirming its ability to connect automotive dealers with ready-to-buy consumers. An internal analysis highlighted that 75% of vehicle buyers purchase within 19 days. AutoWeb averages 1.68 million clicks to dealer websites monthly and generates over 388,000 consumer leads monthly. External data from Experian show AutoWeb's audience has an average annual household income of $81,454. The company has integrated new digital retail components, with 39% consumer engagement and 9% conversion rate in Q1 2021, enhancing matchmaking capabilities for dealers.

AutoWeb, Inc. (AUTO) announced a strategic partnership with CreditIQ to enhance its digital retail offerings. This collaboration allows AutoWeb visitors to calculate car payments within its search funnel, improving the car buying experience. A recent analysis showed that 39% of users engaged with the new payment tools, with 9% completing further digital retail activities. The partnership aims to evolve AutoWeb's match capabilities, tailoring user experiences better to connect buyers with sellers. This development is part of AutoWeb's initiative to integrate innovative technologies for improved consumer interaction.

AutoWeb, Inc. (Nasdaq: AUTO) reported Q1 2021 financial results showing sequential revenue growth despite a dip from $24.5M last year to $17.9M, attributed to seasonal trends and COVID-19 impacts. Gross profit increased 8% to $5.8M, resulting in a gross margin of 32.5%. The company achieved a net income of $0.3M compared to a loss of $4.1M last year, mainly due to improved profit margins and reduced operating expenses. AutoWeb anticipates recovery in dealer counts and continues to drive efficiency and innovation in its platform.