Vroom, Inc.NASDAQ: VRM

Vroom Announces Second Quarter 2026 Results

Aug 4, 2026 at 8:03 PM UTC · Issued by Vroom, Inc. via GlobeNewswire

Watch Vroom explain itVroom, Inc. (VRM) Q3 2023 Earnings Call · Replay · Nov 8, 2023

First Time in Company History Vroom Achieves Positive Net Income and Adjusted Net Income

NEW YORK, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Vroom, Inc. (Nasdaq:VRM) today announced financial results for the second quarter ended June 30, 2026.

HIGHLIGHTS OF SECOND QUARTER 2026

$99.8 million stockholders' equity as of June 30, 2026 and $88.4 million tangible book value(1) as of June 30, 2026
$63.9 million consolidated total available liquidity(2) as of June 30, 2026, consisting of:
- $16.4 million cash and cash equivalents
- $10.5 million of liquidity available to UACC under the warehouse credit facilities
- $27.0 million of available liquidity from delayed draw facility
- $10.0 million of available liquidity from 2032 Notes
$0.6 million net income for the second quarter 2026
$(0.1) million net loss attributable to controlling interest and common shareholders for the second quarter 2026
$1.5 million adjusted net income(3) for the second quarter 2026
$12.4 million increase in net loss and $20.6 million decrease in adjusted net loss(3) for the trailing twelve months ended June 30, 2026 compared to trailing twelve months ended June 30, 2025
$28.5 million existing notes exchanged for $50.0 million new Senior Secured Delayed Draw Convertible Note due 2032

(1)	Tangible book value is a non-GAAP measure and represents total stockholders' equity of $99.8 million, excluding intangible assets of $11.4 million as of June 30, 2026.
(2)	Total available liquidity is a non-GAAP measure and represents $16.4 million of unrestricted cash and cash equivalents, as well as $10.5 million of availability from warehouse credit facilities, $27.0 million of availability from delayed draw facility and $10.0 million of availability from 2032 Notes.
(3)	Adjusted net income (loss) is a non-GAAP measure. For definitions and a reconciliation to the most comparable GAAP measure, please see Non-GAAP Financial Measures section below.

Tom Shortt, Chief Executive Officer of Vroom, said, "In the second quarter of 2026, we achieved positive net income and adjusted net income for the first time in Vroom's history, while continuing to make significant investments in our Next-Generation Technology Platform, driven by improvement in realized and unrealized losses at UACC as we see the benefits of our refreshed internal customer scoring model, which was implemented in 2025. This significant milestone reflects the progress we've made executing our Long-Term Strategic Plan."

Jon Sandison, Chief Financial Officer of Vroom, added, "During the second quarter, we further strengthened our balance sheet by exchanging $28.5 million of existing notes for $50.0 million of new Senior Secured Delayed Draw Convertible Notes due 2032, extending our runway to execute our long-term strategy. We ended the quarter with total available liquidity of $63.9 million, and remain focused on disciplined expense management."

Fresh Start Accounting

As a result of emerging from a voluntary proceeding (the "Prepackaged Chapter 11 Case") under Chapter 11 of the United States Code, 11 U.S.C. §§ 101-1532, as amended from time to time, on January 14, 2025, (the "Effective Date") and qualifying for the application of fresh-start accounting, at the Effective Date, Vroom's assets and liabilities were recorded at their estimated fair values which, in some cases, are significantly different than amounts included in our financial statements prior to the Effective Date. Accordingly, our consolidated financial statements after the Effective Date are not comparable with our consolidated financial statements on or before that date. References to "Successor" relate to our financial position and results of operations after the Effective Date. References to "Predecessor" refer to our financial position and results of operations on or before the Effective Date.

The combined results (referenced as "Non-GAAP Combined" or "Combined") for the three months ended March 31, 2025, represent the sum of the reported amounts for the Predecessor period from January 1, 2025, through January 14, 2025, and the Successor period from January 15, 2025, through March 31, 2025. These combined results are not considered to be prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and have not been prepared as pro forma results per applicable regulations. The combined operating results do not reflect the actual results we would have achieved absent our emergence from the Prepackaged Chapter 11 Case and are not necessarily indicative of future results. Accordingly, the results for the combined three months ended March 31, 2025, (prepared on a Non-GAAP basis) and three months ended March 31, 2026, (prepared on a GAAP basis) may not be comparable, particularly for statement of operations line items significantly impacted by the reorganization transactions and the impact of fresh start accounting.

SECOND QUARTER 2026 FINANCIAL DISCUSSION

All financial comparisons are on a year-over-year basis unless otherwise noted. The following financial information is unaudited.


	Three Months Ended June 30,
	2026			2025			$ Change		% Change
	(in thousands)
Interest income	$	43,605			$	45,748		$	(2,143	)	(4.7	)%

Interest expense:
Warehouse credit facility		3,396				3,259			137		4.2	%
Securitization debt		8,586				9,883			(1,297	)	(13.1	)%
Total interest expense		11,982				13,142			(1,160	)	(8.8	)%
Net interest income		31,623				32,606			(983	)	(3.0	)%

Realized and unrealized losses, net of recoveries		10,663				19,500			(8,837	)	(45.3	)%
Net interest income after losses and recoveries		20,960				13,106			7,854		59.9	%

Noninterest income:
Servicing income		925				1,259			(334	)	(26.5	)%
Warranties and GAP income, net		3,291				3,645			(354	)	(9.7	)%
CarStory revenue		1,297				1,846			(549	)	(29.7	)%
Other income		3,156				2,067			1,089		52.7	%
Total noninterest income		8,669				8,817			(148	)	(1.7	)%

Expenses:
Compensation and benefits		18,751				21,091			(2,340	)	(11.1	)%
Professional fees		1,984				2,013			(29	)	(1.4	)%
Software and IT costs		3,244				3,420			(176	)	(5.1	)%
Depreciation and amortization		1,482				742			740		99.7	%
Interest expense on corporate debt		1,063				698			365		52.3	%
Other expenses		2,574				2,832			(258	)	(9.1	)%
Total expenses		29,098				30,796			(1,698	)	(5.5	)%

Income (loss) from continuing operations before provision for income taxes		531				(8,873	)		9,404		106.0	%
(Benefit) provision for income taxes from continuing operations		(24	)			59			(83	)	(140.7	)%
Net income (loss) from continuing operations	$	555			$	(8,932	)	$	9,487		106.2	%
Net income from discontinued operations	$	73			$	413		$	(340	)	(82.3	)%
Net income (loss)	$	628			$	(8,519	)	$	9,147		107.4	%
Preferred stock dividends attributable to noncontrolling interests of subsidiary	$	(691	)		$	—		$	(691	)	100.0	%
Net loss attributable to controlling interest and common shareholders	$	(63	)		$	(8,519	)	$	8,456		99.3	%

	Successor				Predecessor			Non-GAAP Combined		Non-GAAP		Non-GAAP
	Six months ended June 30,			Period from January 15 through June 30,				Period from January 1 through January 14,		Six months ended June 30,
	2026			2025				2025		2025		$ Change			% Change
	(in thousands)
Interest income	$	86,081			$	82,905			$	7,183		$	90,088			$	(4,007	)	(4.4	)%

Interest expense:
Warehouse credit facility		6,835				7,877				1,017			8,894				(2,059	)	(23.2	)%
Securitization debt		17,206				16,431				1,178			17,609				(403	)	(2.3	)%
Total interest expense		24,041				24,308				2,195			26,503				(2,462	)	(9.3	)%
Net interest income		62,040				58,597				4,988			63,585				(1,545	)	(2.4	)%

Realized and unrealized losses, net of recoveries		35,346				30,600				6,792			37,392				(2,046	)	(5.5	)%
Net interest income (loss) after losses and recoveries		26,694				27,997				(1,804	)		26,193				501		1.9	%

Noninterest income:
Servicing income		2,064				2,513				192			2,705				(641	)	(23.7	)%
Warranties and GAP income, net		5,977				7,724				307			8,031				(2,054	)	(25.6	)%
CarStory revenue		2,630				4,238				432			4,670				(2,040	)	(43.7	)%
Other income		5,197				4,548				113			4,661				536		11.5	%
Total noninterest income		15,868				19,023				1,044			20,067				(4,199	)	(20.9	)%

Expenses:
Compensation and benefits		37,897				37,158				2,823			39,981				(2,084	)	(5.2	)%
Professional fees		6,504				7,360				297			7,657				(1,153	)	(15.1	)%
Software and IT costs		6,405				5,822				457			6,279				126		2.0	%
Depreciation and amortization		2,822				1,317				1,057			2,374				448		18.9	%
Interest expense on corporate debt		2,275				1,178				176			1,354				921		68.0	%
Impairment charges		—				4,156				—			4,156				(4,156	)	(100.0	)%
Other expenses		4,982				5,202				371			5,573				(591	)	(10.6	)%
Total expenses		60,885				62,193				5,181			67,374				(6,489	)	(9.6	)%

Income (loss) from continuing operations before provision for income taxes		(18,323	)			(15,173	)			(5,941	)		(21,114	)			2,791		13.2	%
Reorganization items, net		—				—				51,036			51,036				(51,036	)	(100.0	)%
(Loss) income from continuing operations before provision for income taxes		(18,323	)			(15,173	)			45,095			29,922				(48,245	)	(161.2	)%
Provision for income taxes from continuing operations		168				209				5			214				(46	)	(21.5	)%
Net (loss) income from continuing operations	$	(18,491	)		$	(15,382	)		$	45,090		$	29,708			$	(48,199	)	(162.2	)%
Net income (loss) from discontinued operations	$	61			$	512			$	(4	)	$	508			$	(447	)	(88.0	)%
Net (loss) income	$	(18,430	)		$	(14,870	)		$	45,086		$	30,216			$	(48,646	)	(161.0	)%
Preferred stock dividends attributable to noncontrolling interests of subsidiary	$	(1,262	)		$	—			$	—		$	—			$	(1,262	)	100.0	%
Net (loss) income attributable to controlling interest and common shareholders	$	(19,692	)		$	(14,870	)		$	45,086		$	30,216			$	(49,908	)	(165.2	)%

Results by Segment

UACC


	Three Months Ended June 30,
	2026			2025			Change		% Change
	(in thousands)
Interest income	$	43,605			$	45,748		$	(2,143	)	(4.7	)%

Interest expense:
Warehouse credit facility		3,396				3,259			137		4.2	%
Securitization debt		8,586				9,883			(1,297	)	(13.1	)%
Total interest expense		11,982				13,142			(1,160	)	(8.8	)%
Net interest income		31,623				32,606			(983	)	(3.0	)%

Realized and unrealized losses, net of recoveries		10,757				20,922			(10,165	)	(48.6	)%
Net interest income after losses and recoveries		20,866				11,684			9,182		78.6	%

Noninterest income:
Servicing income		925				1,259			(334	)	(26.5	)%
Warranties and GAP income, net		3,203				3,673			(470	)	(12.8	)%
Other income		3,119				1,978			1,141		57.7	%
Total noninterest income		7,247				6,910			337		4.9	%

Expenses:
Compensation and benefits		16,352				17,443			(1,091	)	(6.3	)%
Professional fees		989				1,433			(444	)	(31.0	)%
Software and IT costs		3,179				2,688			491		18.3	%
Depreciation and amortization		1,381				628			753		119.9	%
Interest expense on corporate debt		765				698			67		9.6	%
Other expenses		2,053				2,152			(99	)	(4.6	)%
Total expenses		24,719				25,042			(323	)	(1.3	)%

Preferred stock dividends attributable to noncontrolling interests of subsidiary		(691	)			—			(691	)	100.0	%

Adjusted net income (loss)	$	3,993			$	(5,334	)	$	9,327		174.9	%

Stock compensation expense	$	1,139			$	1,106		$	33		3.0	%
Severance	$	151			$	7		$	144		2,057.1	%

	Successor				Predecessor			Non-GAAP Combined		Non-GAAP		Non-GAAP
	Six months ended June 30,			Period from January 15 through June 30,				Period from January 1 through January 14,		Six months ended June 30,
	2026			2025				2025		2025		Change			% Change
					(in thousands)
Interest income	$	86,081			$	82,905			$	7,254		$	90,159			$	(4,078	)	(4.5	)%

Interest expense:
Warehouse credit facility		6,835				7,877				1,017			8,894				(2,059	)	(23.2	)%
Securitization debt		17,206				16,431				1,178			17,609				(403	)	(2.3	)%
Total interest expense		24,041				24,308				2,195			26,503				(2,462	)	(9.3	)%
Net interest income		62,040				58,597				5,059			63,656				(1,616	)	(2.5	)%

Realized and unrealized losses, net of recoveries		35,580				33,612				7,647			41,259				(5,679	)	(13.8	)%
Net interest income (loss) after losses and recoveries		26,460				24,985				(2,588	)		22,397				4,063		18.1	%

Noninterest income:
Servicing income		2,064				2,513				192			2,705				(641	)	(23.7	)%
Warranties and GAP income, net		5,968				7,244				390			7,634				(1,666	)	(21.8	)%
Other income		5,126				4,213				66			4,279				847		19.8	%
Total noninterest income		13,158				13,970				648			14,618				(1,460	)	(10.0	)%

Expenses:
Compensation and benefits		33,089				31,137				2,398			33,535				(446	)	(1.3	)%
Professional fees		4,353				4,502				172			4,674				(321	)	(6.9	)%
Software and IT costs		6,144				4,774				367			5,141				1,003		19.5	%
Depreciation and amortization		2,616				1,107				817			1,924				692		36.0	%
Interest expense on corporate debt		1,526				1,178				85			1,263				263		20.8	%
Impairment charges		—				3,479				—			3,479				(3,479	)	(100.0	)%
Other expenses		4,020				3,822				262			4,084				(64	)	(1.6	)%
Total expenses		51,748				49,999				4,101			54,100				(2,352	)	(4.3	)%

Provision for income taxes from continuing operations		—				39				—			39				(39	)	(100.0	)%

Preferred stock dividends attributable to noncontrolling interests of subsidiary		(1,262	)			—				—			—				(1,262	)	100.0	%

Adjusted net loss	$	(10,983	)		$	(6,168	)		$	(5,910	)	$	(12,078	)		$	1,095		9.1	%

Stock compensation expense	$	2,258			$	1,408			$	127		$	1,535			$	722		47.1	%
Severance	$	151			$	28			$	4		$	32			$	119		370.7	%

CarStory


	Three Months Ended June 30,
	2026			2025			Change		% Change
	(in thousands)
Noninterest income:
CarStory revenue	$	1,297			$	1,846		$	(549	)	(29.7	)%
Other income		37				35			2		5.7	%
Total noninterest income		1,334				1,881			(547	)	(29.1	)%

Expenses:
Compensation and benefits		1,266				1,581			(315	)	(19.9	)%
Professional fees		42				(67	)		109		162.7	%
Software and IT costs		2				3			(1	)	(33.3	)%
Depreciation and amortization		101				114			(13	)	(11.4	)%
Other expenses		102				136			(34	)	(25.0	)%
Total expenses		1,513				1,767			(254	)	(14.4	)%

Provision for income taxes from continuing operations		31				33			(2	)	(6.1	)%

Adjusted net (loss) income	$	(156	)		$	124		$	(280	)	(225.8	)%

Stock compensation expense	$	23			$	43		$	(20	)	(45.9	)%
Severance	$	31			$	—		$	31		100.0	%

	Successor				Predecessor			Non-GAAP Combined		Non-GAAP		Non-GAAP
	Six months ended June 30,			Period from January 15 through June 30,				Period from January 1 through January 14,		Six months ended June 30,
	2026			2025				2025		2025		Change			% Change
	(in thousands)
Noninterest income:
CarStory revenue	$	2,630			$	4,238			$	432		$	4,670			$	(2,040	)	(43.7	)%
Other income		71				97				13			110				(39	)	(35.5	)%
Total noninterest income		2,701				4,335				445			4,780				(2,079	)	(43.5	)%

Expenses:
Compensation and benefits		2,509				2,941				326			3,267				(758	)	(23.2	)%
Professional fees		94				(67	)			13			(54	)			148		274.1	%
Software and IT costs		4				3				2			5				(1	)	(20.0	)%
Depreciation and amortization		206				210				240			450				(244	)	(54.2	)%
Other expenses		195				274				20			294				(99	)	(33.7	)%
Total expenses		3,008				3,361				601			3,962				(954	)	(24.1	)%

Provision for income taxes from continuing operations		57				49				5			54				3		5.6	%

Adjusted net (loss) income	$	(286	)		$	963			$	(153	)	$	810			$	(1,096	)	(135.3	)%

Stock compensation expense	$	47			$	38			$	8		$	46			$	1		2.8	%
Severance	$	31			$	—			$	—		$	—			$	31		100.0	%

Corporate


	Three Months Ended June 30,
	2026			2025			Change	% Change
	(in thousands)
Realized and unrealized losses, net of recoveries	$	(94	)		$	(1,422	...

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