Slide 1: Second Quarter 2023 Earnings
vroom Second Quarter 2023 Earnings August 2023
Slide 2: Forward Looking Statements
disclaimer Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking
Slide 3: Focused on our objectives and strategic initiatives
we are Focused on our objectives and Strategic initiatives during 2022 we improved the customer experience, improved our processes, and reduced our debt. during 2023 we intend to resume growth, sell through aged inventory, improve variable costs per unit, continue to reduce fixed costs and convert b
Slide 4: Second Quarter 2023 Highlights
second quarter 2023 highlights ($56.3)M of Adjusted EBITDA (1) , an $8.5M / 13% sequential improvement 5% Ecommerce unit growth sequentially $2,954 Ecommerce Gross Profit Per Unit (GPPU), a $402 sequential improvement, driven by GPPU on unaged units (<181 days) 80% of units sold in Q2-23 were >180 d
Slide 5: Second Quarter Operational Highlights
second quarter operational highlights operational progress on our 4 strategic initiatives financial lever Product GPPU Vehicle GPPUGPPU & SG&A - Logistics (1) Balance Sheet - Inventory SG&A - Sales (1) SG&A – Titling, Registration & Support (1) SG&A - Marketing (1) SG&A - Fixed (1)(4) Initiative Ori
Slide 6: Quarterly progression
Quarterly progression Operational improvements driving performance ($ in millions) Adjusted EBITDA ex. Securitization gain and Non-recurring costs (1) Adjusted EBITDA ex. non-recurring costs Securitization Gain Ecommerce gppu $1,763 $3,629 $4,206 $1,233 $2,552 $2,954 q1 2022 q2 2022 q3 2022 q4 2022
Slide 7: Second Quarter 2023 Financial Update
vroom Second Quarter 2023 Financial Update
Slide 8: 2nd Quarter 2023 Financial Summary
2nd quarter 2023 financial summary Continued progress on long term roadmap 2Q 2023 Performance Highlights first quarter 2023 second quarter 2023 Total Revenue ecommerce units ecommerce gppu adjusted ebitda (1) adjusted ebitda ex. non-recurring costs (1) adjusted ebitda ex. securitization gain & non-
Slide 9: 2nd Quarter Performance Drivers
2nd quarter performance drivers 2nd quarter adjusted ebitda (1) ($ in millions) $(65) 1Q 2023 (1) $1 Ecommerce Volume $2 Ecommerce Gross Profit $2 Adjusted SG&A (2) $4 UACC/Wholesale and Other $(56) 2Q 2023 (1) $2m increase in Ecommerce gross profit 5% sequential unit growth Strong GPPU on unaged (<
Slide 10: FY2023 Cash and Cash Equivalents and Liquidity Outlook
fy2023 cash and cash equivalents and liquidity outlook cash and liquidity drivers Expect to continue to reduce operating loss each quarter as we grow units, increase GPPU and improve unit economics Expect to free up cash in inventory as we sell through remaining aged units and increase percentage of
Slide 11: Summary Q2 2023 Highlights
Summary Q2 2023 Highlights Continued execution of our Long-Term Roadmap focused on 4 strategic initiatives expected to build a profitable business model Achieved sequential GPPU improvement of $402 Continued to transform pricing algorithms, implement variable shipping fees, and improve our acquisiti
Slide 12: Appendix
Vroom Appendix
Slide 13: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial measures EBITDA, Adjusted EBITDA, Adjusted EBITDA excluding non-recurring costs to address operational and customer experience issues, Adjusted EBITDA excluding securitization gain and Adjusted EBITDA excluding securitization gain and non-recurring costs to addre
Slide 14: Reconciliation of Non-GAAP Financial Measures (continued)
Reconciliation of Non-GAAP Financial measures (continued) Adjusted SG&A We calculate adjusted selling, general & administrative expenses as selling, general & administrative expenses adjusted to exclude severance costs, non-recurring costs to address operational and customer experience issues, UACC
Slide 15: Thank you
thank you 15 V