Vroom Inc. (VRM)
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Vroom Announces Fourth Quarter and Full Year 2024 Results
NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) today announced financial results for the fourth quarter and fiscal year ended December 31, 2024. HIGHLIGHTS OF FOURTH QUARTER AND FULL YEAR 2024 $57.5 million consolidated total cash and excess liquidity as of December 31, 2024 $29.3 million cash and cash equivalents as of December 31, 2024 $28.2 million of liquidity available to UACC under the warehouse credit facilities $(36.7) million and $(138.2) million net loss from continuing operation.
Vroom Provides Update on Relisting of Common Stock and Q4 2024 Liquidity
NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (the “Company”), a leading automotive finance company and a data and AI-powered analytics and digital services platform supporting the automotive industry, today provided an update regarding the relisting of the Company's common stock on the Nasdaq Stock Market LLC and certain preliminary unaudited financial results for the fourth quarter 2024, following the Company's recapitalization of its previously issued unsecured convertible senior notes. Vroom has r.
Vroom Completes Recapitalization
NEW YORK--(BUSINESS WIRE)--Vroom, Inc., a leading automotive finance company and a data, AI-powered analytics and digital services platform supporting the automotive industry, today announced that as of January 14, 2025, it has successfully completed its recapitalization of unsecured convertible senior notes and emerged from the prepackaged Chapter 11 case it voluntarily filed in the U.S. Bankruptcy Court for the Southern District of Texas. Vroom emerges without any long-term debt at Vroom, Inc.
Vroom Files for Bankruptcy, Says Subsidiaries Not Expected to Follow
Automotive finance company and digital services platform Vroom filed for Chapter 11 bankruptcy Wednesday (Nov. 13), saying in a filing with the Securities and Exchange Commission (SEC) that it plans to operate its business as a “debtor-in-possession” under the jurisdiction of the bankruptcy court.
Vroom Announces Third Quarter 2024 Results
NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) today announced financial results for the third quarter ended September 30, 2024. HIGHLIGHTS OF THIRD QUARTER 2024 $51.1 million cash and cash equivalents as of September 30, 2024 $32.9 million of liquidity available to UACC under the warehouse credit facilities $(37.7) million net loss from continuing operations $(25.5) million Adjusted EBITDA1 Entered into an agreement to restructure $290 million of unsecured convertible notes, into equity t.
Vroom Announces Equity-for-Debt Recapitalization
NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM), a leading automotive finance company and an AI-powered analytics and digital services platform for automotive retail, today announced that it has made the strategic decision to enter into a Restructuring Support Agreement (RSA) with holders of an overwhelming majority of its outstanding funded debt and its largest stockholder. The parties to the RSA have agreed to pursue a comprehensive transaction that will restructure Vroom, Inc.'s outstan.
Vroom Shifts Focus to Core Assets and Future Growth
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.
Vroom Released Long-term Strategic Plan
NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM) today released an investor presentation (the “Investor Presentation”) which includes the Company's long-term strategic plan and key initiatives. A copy of the Investor Presentation is available at ir.vroom.com. On January 22, 2024, the Company announced a Value Maximization Plan, pursuant to which the Company discontinued its ecommerce operations and wound down its used vehicle dealership. Since the announcement in January, the Company has be.
Vroom Announces Second Quarter 2024 Results
NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) today announced financial results for the second quarter ended June 30, 2024. HIGHLIGHTS OF SECOND QUARTER 2024 $63.4 million cash and cash equivalents as of June 30, 2024 $34.0 million of liquidity available to UACC under the warehouse credit facilities $(19.1) million net loss from continuing operations $(7.5) million Adjusted EBITDA Successfully Completed UACC Securitization Transaction in April 2024 Tom Shortt, the Company's Chief Executiv.
Vroom: Main engine of U.S. economy — consumers — showing no sign of sputtering
Don't bet against the American consumer, an old saying goes. That wisdom was borne out this spring and summer, when wagering against them would have been a mistake.
Vroom to Release Second Quarter 2024 Earnings on August 8, 2024
NEW YORK--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq: VRM) today announced that it will release its financial results for the second quarter ending June 30, 2024, after the market closes on Thursday, August 8, 2024. About Vroom (Nasdaq: VRM) Vroom owns and operates United Auto Credit Corporation (UACC), a leading automotive lender serving the independent and franchise dealer market nationwide, and CarStory, a leader in AI-powered analytics and digital services for automotive retail. During fiscal 202.
