Vroom, Inc. · NASDAQ:VRM
Vroom — Q1 2024 Earnings Presentation
6 slides from Vroom's earnings presentation, May 2024
Slide 1: First Quarter 2024 Earnings
vroom first quarter 2024 earnings may 2024
Slide 2: Forward Looking Statements
Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statement
Slide 3: Q1 2024 highlights
• Substantially completed with ecommerce wind-down • $91M Cash and Cash Equivalents(1) • $825M UACC total Warehouse Capacity, $516M outstanding borrowings, $309M excess warehouse capacity • $54M of liquidity available to UACC under the warehouse lines • Continuing to grow origination volume and gros
Slide 4: Cash and cash equivalents bridge
$136 • $12 ($20) • Payroll, benefits and severance for exited employees as a $91 result of ecommerce wind-down ($10) ($6) ($16) • • Costs associated with early termination or modification of ecommerce contracts and leases • • Expenses to wind down ecommerce operations • 12/31/23 Discountinued Vendor
Slide 5: Ecommerce wind-down status
• Liquidated inventory via wholesale channel • Paid down floorplan loan agreement with Ally on 2/16/24 • Liquidating linehaul and last mile delivery fleet • 96% of eliminated roles exited by end of Q1-2024 • Minimal lease and contract terminations outstanding • Preserved and seeking to monetize tech
Slide 6: Vroom business units: UACC, CarStory, ecommerce
Financing and Loan Servicing Industry leading data, AI and technology Automotive eCommerce platform • Acquired by Vroom in 2022 • Acquired by Vroom in 2021 • eCommerce used vehicle platform • Non-prime lending expertise • 18+ years of automotive vehicle history • Predictive price and P&L models • Su