Core Viewpoint - Vroom, an automotive finance company and digital services platform, has filed for Chapter 11 bankruptcy, planning to operate as a "debtor-in-possession" while its subsidiaries will not enter bankruptcy proceedings [1][2]. Group 1: Company Operations and Structure - Vroom's subsidiaries include United Auto Credit Corp. (UACC), CarStory, and Vroom Automotive, with Vroom, Inc. acting as a holding company without operational activities [2]. - The company aims to emerge from the prepackaged Chapter 11 case by the end of the year or early 2025 [2]. Group 2: Financial Strategy and Asset Management - The CEO stated that the focus has been on maximizing the value of remaining assets after winding down the eCommerce used automotive dealer business, which was completed in April [3]. - The elimination of unsecured notes is expected to strengthen Vroom's balance sheet, allowing it to emerge without long-term debt, while UACC will still be responsible for debt related to asset-backed securitizations [3]. Group 3: Historical Context and Challenges - Prior to the bankruptcy filing, Vroom attempted to raise additional capital and extend its vehicle floorplan facility but was unsuccessful in the current market conditions [4]. - In July, Vroom reached a proposed settlement with the Federal Trade Commission (FTC) over allegations of customer deception and failure to deliver on time [5].

In a move to redefine its future, used car digital marketplace Vroom on Tuesday (Sept. 23) said it completed the wind-down of its eCommerce and used vehicle dealership operations and released a long-term strategic plan leveraging its assets like United Auto Credit Corporation (UACC), a leading automotive finance company; and CarStory, a leader in AI-powered analytics and digital services for automotive retail. In January, Vroom officials announced a Value Maximization Plan, which discontinued the company's ...

Cynically, that's a huge positive for EVgo. It doesn't guarantee upside, to be clear. However, the narrative just got a heckuva lot more exciting. Lucid (LCID) Source: Jonathan Weiss / Shutterstock.com Interestingly, Lucid (NASDAQ:LCID) – a specialist in the premium vehicle segment – represented one of the beneficiaries among EV stocks. LCID stock gained almost 3% of equity value on Thursday. This performance followed a big jump during Wednesday's session. But why? Some point to the possibility that another ...

Financial Performance - The company experienced a net loss from continuing operations of $(44.7) million, representing an increase of 188.8% compared to the previous year[5]. - Net loss from continuing operations for Q1 2024 was $44,676 thousand, compared to a loss of $15,469 thousand in Q1 2023, representing an increase in loss of approximately 188%[14]. - The company reported a net loss of $67,617 thousand for Q1 2024, compared to a net loss of $74,741 thousand in Q1 2023, showing an improvement of about 10%[21]. - Adjusted EBITDA for Q1 2024 was $(32,152) thousand, compared to $(16,298) thousand in Q1 2023, indicating a deterioration of approximately 97%[14]. - Adjusted EBITDA for UACC was $(10.1) million, a decline of 127.1% compared to $(4.5) million in the previous year[9]. Revenue and Income - Interest income for the first quarter of 2024 was $51.1 million, a 48.6% increase from $34.4 million in the same period last year[7]. - UACC's interest income reached $51.5 million, up 46.0% from $35.3 million year-over-year[9]. - Net interest income for Q1 2024 was $36,737 thousand, up from $26,924 thousand in Q1 2023, reflecting an increase of approximately 36%[21]. - CarStory revenue decreased by 6.0% to $2.98 million from $3.17 million year-over-year[10]. Expenses and Liabilities - Total expenses for the quarter were $48.3 million, a slight increase of 2.3% from $47.2 million in Q1 2023[7]. - Total liabilities decreased from $1,347,751 thousand as of December 31, 2023, to $1,160,780 thousand as of March 31, 2024, a reduction of about 14%[19]. - Cash paid for interest increased to $13,497 from $6,347, reflecting a significant rise in interest expenses[25]. Cash and Assets - As of March 31, 2024, Vroom reported cash and cash equivalents of approximately $91 million[5]. - Cash and cash equivalents decreased from $135,585 thousand at the end of 2023 to $90,990 thousand at the end of Q1 2024, a decline of approximately 33%[19]. - Total assets decreased from $1,475,422 thousand as of December 31, 2023, to $1,222,267 thousand as of March 31, 2024, a reduction of about 17%[19]. Business Operations and Strategy - The company has substantially completed its ecommerce wind-down, focusing on enhancing UACC's profitability[4]. - The company has discontinued its e-commerce operations and used vehicle dealership business as part of its Value Maximization Plan[15]. - The company expects to benefit from the completion of the wind-down of the e-commerce business and anticipates impacts from the UACC's 2024-1 securitization transaction[16]. - The company completed a securitization transaction in April 2024, selling $262.5 million of rated asset-backed securities[4]. Shareholder Information - The weighted-average number of shares outstanding increased from 1,731,636 in Q1 2023 to 1,794,303 in Q1 2024, an increase of approximately 4%[21]. Securitization Details - The company reported a finance receivable of $180,706 from the consolidation of the 2022-2 securitization transaction[25]. - Securitization debt from the consolidation of the 2022-2 securitization transaction amounted to $186,386[25]. - The reclassification of finance receivables held for sale to finance receivables at fair value, net, was $248,081[25].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39315 VROOM, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation o ...

Convenience store commerce platform Vroom Delivery has launched a partnership with payment processor Finix.The collaboration, announced Monday (April 8), is centered around the creation of a new tool called Pay360, which the companies say is the first online payment solution designed for the convenience store sector, allowing for the secure online sale of age-restricted products.“Retailers that sell age-restricted products online are often deemed higher risk by legacy payment processors due to increased fra ...

The company ended transactions through vroom.com , completed previously contracted transactions, sold “substantially all” of its used vehicle inventory and paid off a vehicle floorplan financing facility, Vroom said in a Thursday (April 4) filing with the Securities and Exchange Commission .Vroom completed the previously announced wind-down of its eCommerce and used vehicle dealership businesses.Vroom announced Jan. 22 that it had begun to wind down the eCommerce and used vehicle dealership businesses.UACC ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39315 VROOM, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Org ...

Exhibit 99.1 Vroom Announces Fourth Quarter and Full Year 2023 Results Substantial Progress on Value Maximization Plan NEW YORK – March 13, 2024 – Vroom, Inc. (Nasdaq:VRM) today announced financial results for the fourth quarter and fiscal year ended December 31, 2023. HIGHLIGHTS OF FOURTH QUARTER AND FULL YEAR 2023 CURRENT PROGRESS ON VALUE MAXIMIZATION PLAN Tom Shortt, the Company's Chief Executive Officer, said "As we previously announced, in January 2024 Vroom's Board of Directors approved a Value Maxim ...

One of today’s most impressive movers happens to be Vroom (NASDAQ:VRM). Shares of the used car company have skyrocketed in today’s session, with VRM stock up more than 25% at the time of writing.This move appears to be tied to increasingly bullish sentiment building in this space following key earnings from rival Carvana (NYSE:CVNA). Shares of CVNA stock rocketed more than 40% higher at one point today following incredible full-year results earlier today. In fact, Carvana posted a full-year profit of $150 m ...