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.
Vroom, Inc. (Nasdaq: VRM) is set to release its Q1 2023 financial results on
Vroom, Inc. (Nasdaq: VRM) reported financial results for Q4 and fiscal year 2022, highlighting significant cost reductions and operational improvements. Q4 saw a gross profit per unit decline to $1,233 from $4,206 in Q3, attributed to increased sales of aged units, industry-wide depreciation, and higher inventory reserves. Net income was $24.8 million compared to a loss of $51.1 million in Q3. Despite an annual net loss of $451.9 million, Vroom improved liquidity by repurchasing $198 million in convertible notes. The company anticipates a return to growth in 2023, focusing on enhancing customer experience and optimizing operational processes.
Vroom, Inc. (NASDAQ: VRM) will announce its fourth quarter and full year financial results for 2022 after market close on
Vroom, Inc. (Nasdaq: VRM) announced on December 13, 2022, that its Board’s Compensation Committee approved the grant of 224,275 inducement restricted stock units to 49 non-executive employees as part of its 2022 Inducement Award Plan. The awards will vest in equal increments over three years, contingent on continued employment. This initiative aims to attract talent to Vroom and supports the company's commitment to fostering a robust workforce while adhering to Nasdaq listing rules.
Vroom, Inc. (Nasdaq: VRM) reported Q3 2022 financial results, highlighting a 16% increase in ecommerce gross profit per unit to $4,206. The net loss shrank from $(115.1) million to $(51.1) million. Adjusted EBITDA improved from $(85.6) million to $(73.3) million. However, ecommerce units sold fell 67.3% year-over-year, with revenue declining 67.9% to $225.4 million. SG&A expenses decreased by $18.3 million. Management is focused on enhancing customer experience and aims for a cash liquidity of $450 to $565 million by year-end.
Vroom announces the appointment of Timothy M. Crow to its Board of Directors, effective October 26, 2022, replacing Fred Terrell. Crow, former Chief Human Resources Officer at The Home Depot, brings over 20 years of experience in human capital management. He will serve on the Compensation and Nominating Committees. The company expressed confidence in Crow's leadership skills as it aims to enhance its long-term strategic roadmap. Terrell's resignation is acknowledged with appreciation for his service.
Vroom, Inc. (NASDAQ: VRM) plans to release its third quarter financial results for the period ending September 30, 2022, after market close on
Vroom, Inc. (Nasdaq: VRM) announced on September 22, 2022, that its Compensation Committee approved the grant of inducement restricted stock unit awards covering 95,125 shares to 22 non-executive employees. This initiative aims to attract new talent, with awards vesting in equal annual increments over three years, contingent upon continued employment. These awards are part of Vroom’s 2022 Inducement Award Plan, adhering to Nasdaq listing rules. Vroom is an e-commerce platform specializing in the buying and selling of used vehicles, offering a data-driven approach to enhance customer experience.
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