Vroom Q1 2023 net loss $75M; ecommerce GPPU improves to $2,552; cost savings ~$42M

Vroom, Inc.

2023-Q1 EPS reported -$0.54 revenue$196,467,000

Ecommerce gross profit per unit (GPPU) rose to $2,552 from $1,233 in Q4 2022.
Net loss of $75.0M vs net income of $24.8M in Q4 2022, driven by prior debt extinguishment gain.
Adjusted EBITDA loss improved to $64.8M from $74.8M in the prior quarter.
Completed January and April 2023 reductions in force, expecting ~$42M annualized cost savings.
Repurchased $15M of convertible notes and executed 2023-1 securitization to enhance liquidity.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vroom, Inc. reported the first quarter ended March 31, 2023 results: net income ($75.0) million.

Period: the first quarter ended March 31, 2023
Net income: ($75.0) million
Result: reported results

Exact text from the filing

Vroom, Inc. (Nasdaq:VRM), a leading ecommerce platform for buying and selling used vehicles , today announced financial results for the first quarter ended March 31, 2023. HIGHLIGHTS OF FIRST QUARTER 2023 VERSUS FOURTH QUARTER 2022 • Ecommerce gross profit per unit of $2,552 as compared to $1,233 • Net loss of ($75.0) million as compared to net income of $24.8 million, due to gain on debt extinguishment of $126.8 million in the fourth quarter of 2022

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Source: SEC EDGAR

accession 0000950170-23-019644

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