Slide 1: Vroom Second Quarter 2022 Earnings
Vroom Second Quarter 2022 Earnings August 2022
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 We aim to improve the customer experience while we live within our means, prioritize profitability and liquidity, and drive unit economics 3 Key Objectives 1. Prioritize unit economics over growth 2. reduce operating expenses 3. Maximize liq
Slide 4: Second quarter operational highlights
Second quarter operational highlights strategic initiatives driving planned improvements key performance indicators $51m, from ($137)m to ($86)m, sequential improvement in adjusted ebitda excluding securitization gain; a 38% improvement (1) $3,629 ecommerce gross profit per unit (gppu) reflecting pr
Slide 5: Second quarter operational highlights: progress on 4 strategic initiatives
Second quarter Operational highlights Operational progress on our 4 strategic initiatives Financial Lever Initiative 1q to 2q progress Product GPPU Originate and securitize Vroom loans through UACC $3,629 Ecommerce GPPU Development of captive financing operation on plan Began improvements to our pri
Slide 6: Vroom Second Quarter 2022 Financial Update
Vroom Second Quarter 2022 Financial Update
Slide 7: Second quarter financial summary
Second quarter financial summary record gppu; reduced operating costs 2q 2022 performance highlights 2q 2022 performance vs 1q 2022 first quarter second quarter total revenue $924 million $475 million ecommerce units 19,473 9,233 ecommerce gppu $1,763 $3,629 adjusted ebitda (1) ($107) million ($86)
Slide 8: Second quarter financial highlights
Second quarter financial highlights Record GPPU Sequential trends 2q 2022 Performance vs 1q 2022 -114% -89% -41% ($120) ($137) ($86) 4Q 2021 1Q 2022 2Q2022 21,243 19,473, 9,233 +93% +26% -49% 4Q 2021 1Q 2022 2Q 2022 $473 $595 $2,166 -46% -48% +36% 4Q2021 1Q2022 2Q 2022 $1,075 $1,168 $1,463 +14% +29%
Slide 9: 2Q 2022 adjusted EBITDA ex. securitization gain
2q 2022 adjusted ebitda ex. Securitization gain (1) ($ in millions) Commentary Lower unit volume offset by higher Ecom GPPU $15M increase in Non-Ecommerce GP, primarily driven by increased Retail Financing GP as our results benefitted from a full quarter of business activity vs the prior quarter $19
Slide 10: Liquidity update
Liquidity update ended quarter with $533 million in liquidity (1) ($ in millions) Liquidity sources $450-$565M in liquidity expected at 12/31/2022E Provides flexibility in near term and ability to drive future growth $700m vehicle floorplan facility until March 2023 Other sources of liquidity Workin
Slide 11: Summary
Summary Strong second quarter performance $51M, from ($137)M to ($86)M, sequential improvement in Adjusted EBITDA ex. securitization gain; a 38% improvement (1) Ecommerce gppu of $3,629 reflects progress toward our long-term goal $52m sequential reduction in adjusted SG&A (2) Development of captive
Slide 12: Vroom Appendix
Vroom Appendix
Slide 13: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial measuresEBITDA, Adjusted EBITDA, Adjusted EBITDA excluding securitization gain, and Adjusted EBITDA excluding securitization gain and non-recurring costs to address operational and customer experience issues We calculate EBITDA as net loss before interest expense
Slide 14: Reconciliation of Non-GAAP Financial Measures (cont'd)
Reconciliation of Non-GAAP Financial measures (cont’d) Adjusted selling, general & administrative expenses We calculate adjusted selling, general & administrative expenses as selling, general & administrative expenses adjusted to exclude realignment costs, acquisition related costs, non-recurring co
Slide 15: Thank you!
Thank you! 15 v 2022 Vroom, All rights reserved.