Welcome to our dedicated page for Vroom news (Ticker: VRM), a resource for investors and traders seeking the latest updates and insights on Vroom stock.
Vroom, Inc. (VRM) is a leading end-to-end e-commerce platform dedicated to revolutionizing the used vehicle industry. With a mission as simple as making car buying as easy as ordering a pizza, Vroom offers an extensive selection of used vehicles, transparent pricing, competitive financing, and nationwide delivery. The company’s innovative, data-driven technology streamlines every phase of the car buying and selling process, ensuring a seamless and efficient experience for consumers.
Vroom operates through three primary segments:
- E-commerce Segment: This segment focuses on the retail sales of used vehicles through Vroom’s intuitive e-commerce platform. It also includes fees earned from the sale of value-added products associated with vehicle sales.
- Wholesale Segment: This segment deals with the sale of used vehicles through various wholesale channels, providing additional avenues for revenue generation.
- Retail Financing Segment: This segment represents the operations of United Auto Credit Corporation (UACC), which collaborates with a network of third-party dealership customers to offer competitive financing options.
In terms of recent achievements, Vroom has been consistently enhancing its platform to offer a smoother, more transparent buying process. Their commitment to quality and customer satisfaction is evident in their nationwide delivery service and no-haggle pricing model. Vroom's efforts to exceed customer expectations have made it a dynamic and fast-growing workplace, attracting top talent across various functions.
For those interested in joining the team, Vroom offers a variety of exciting career opportunities. More details can be found on their career page. Stay updated with the latest from Vroom by following them on social media: Facebook, Instagram, and Twitter.
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Vroom, Inc. (Nasdaq: VRM) plans to disclose its financial results for Q4 and fiscal year 2023 on March 13, 2024, after markets close.
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Vroom, Inc. (VRM) has announced the discontinuation of its ecommerce operations and used vehicle dealership business to preserve liquidity and maximize stakeholder value. The company will focus on its automotive finance company, United Auto Credit Corporation, and AI-powered analytics and digital services for automotive retail, CarStory. The decision comes after the company's inability to raise additional capital to fund operations and extend its vehicle floorplan facility. Vroom will sell its current used vehicle inventory through wholesale channels and execute a reduction-in-force commensurate with its reduced operations.
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Vroom, Inc. (Nasdaq: VRM) has announced the filing of a preliminary proxy statement with the SEC for a special stockholders' meeting to authorize a reverse stock split due to non-compliance with Nasdaq's minimum bid price requirement. The company has until June 18, 2024, to regain compliance, and the final split ratio will be determined after stockholder approval.
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Vroom, Inc. (Nasdaq: VRM) CEO Tom Shortt recognized as one of Auto Finance News' Executives to Watch in 2024 for his leadership and vision. The company has achieved significant results, including an 80% increase in customer satisfaction, successful integration of UACC, and a ~$1,200 improvement in ecommerce product GPPU.
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Vroom, Inc. (Nasdaq: VRM) has filed a prospectus supplement with the SEC to offer and sell up to $50.0 million worth of common stock under an 'at the market' offering program. The company will determine the timing and number of shares sold, and sales will be made through various methods. The prospectus supplement updates information in the accompanying prospectus filed in September 2022. Prospective investors should refer to both documents for complete information.
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Vroom, Inc. (VRM) approves grant of inducement restricted stock unit awards to 11 employees under the 2022 Inducement Award Plan.
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Vroom, Inc. (Nasdaq:VRM) Announces 11% Sequential Growth in Ecommerce Units, $3,144 Ecommerce GPPU, and Continued Reduction in Fixed Costs. Q3 2023 saw a net loss of $(82.9) million and $(64.5) million Adjusted EBITDA. Ecommerce unit growth rate doubled sequentially to 11%, while GPPU increased to $3,144 in Q3 2023 from $2,954 in Q2 2023.
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Vroom, Inc. (Nasdaq:VRM) partners with the state of West Virginia to launch the National Digital Title Clearinghouse (NDTC), allowing for a fully digitized titling process, reducing turnaround times from 45 days to less than one day. Vroom is the only retailer with access to this program, furthering its commitment to revolutionizing the car buying experience.
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Vroom, Inc. will release its Q3 financial results on November 7, 2023, after market close. A conference call and audio webcast will be held on November 8, 2023, at 8:30 a.m. ET. Access details available on the investor relations website.
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Vroom, Inc. (Nasdaq:VRM) announced its financial results for Q2 2023. Key highlights include a 5% sequential growth in Ecommerce units, $2,954 Ecommerce gross profit per unit (GPPU), and a $(66.3) million net loss. The company continued to reduce sequential cost per unit in 4 out of 5 SG&A financial levers outlined in their Long-Term Roadmap. They also improved Adjusted EBITDA by $8.5 million sequentially.
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FAQ
What is the current stock price of Vroom (VRM)?
The current stock price of Vroom (VRM) is $5.01 as of December 2, 2024.
What is the market cap of Vroom (VRM)?
The market cap of Vroom (VRM) is approximately 9.1M.
What does Vroom, Inc. do?
Vroom, Inc. is an end-to-end e-commerce platform for the used vehicle industry, offering an extensive selection of used cars, transparent pricing, competitive financing, and nationwide delivery.
How does Vroom make car buying easier?
Vroom simplifies car buying with no-haggle pricing, a fast and easy purchase process, and delivery directly to your doorstep.
What are the main segments Vroom operates in?
Vroom operates in three main segments: E-commerce for retail sales, Wholesale for selling used vehicles through various channels, and Retail Financing through UACC.
Does Vroom offer financing options?
Yes, Vroom offers competitive financing options through United Auto Credit Corporation (UACC) in collaboration with third-party dealerships.
How does Vroom ensure customer satisfaction?
Vroom ensures customer satisfaction by offering quality vehicles, no-haggle pricing, a seamless buying process, and nationwide delivery.
Can I sell my car to Vroom?
Yes, Vroom allows customers to sell their cars through its platform, providing an easy and efficient process for vehicle trade-ins.
Where can I find career opportunities with Vroom?
Career opportunities with Vroom can be found on their official career page at vroom.com/careers.
How can I stay updated on Vroom's latest news?
You can stay updated on Vroom's latest news by following them on social media platforms like Facebook, Instagram, and Twitter.
What makes Vroom different from traditional car dealerships?
Vroom offers a fully online car buying experience with transparent pricing, no-haggle policies, competitive financing, and home delivery, unlike traditional dealerships.
Does Vroom offer any value-added products?
Yes, Vroom offers various value-added products associated with vehicle sales, enhancing the overall customer experience.
Vroom, Inc.
Nasdaq:VRM
VRM Rankings
VRM Stock Data
9.13M
1.66M
2.19%
27.88%
13.15%
Auto & Truck Dealerships
Retail-auto Dealers & Gasoline Stations
United States
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