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VRM

Vroom, Inc.

VRM

Vroom, Inc. • NASDAQ
$20.66 ▲ 3.04% (+0.61)
Market Cap $107.42 M
52w High $41.36
52w Low $12.00
Dividend Yield 0%
P/E -0.74
Volume 2.61K
Outstanding Shares 5.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.536M ▼ $-26.776M ▼ 0% $0.071 ▲ $-11.979M ▼
Q2-2025 $0 $23.846M ▲ $-8.519M ▼ 0% $-1.73 ▼ $5.709M ▼
Q1-2025 $0 ▼ $21.989M ▼ $-6.351M ▲ 0% ▲ $-1.23 ▲ $5.921M ▲
Q4-2024 $2.828M ▼ $110.033M ▲ $-36.574M ▲ -1.293K% ▲ $-20.07 ▲ $-13.151M ▲
Q3-2024 $2.89M $8.692M $-39.743M -1.375K% $-21.99 $-13.567M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $12.412M ▼ $949.188M ▼ $822.576M ▼ $126.612M ▼
Q2-2025 $14.262M ▼ $979.754M ▼ $827.81M ▼ $151.944M ▼
Q1-2025 $14.565M ▼ $989.956M ▼ $831.329M ▼ $158.627M ▲
Q4-2024 $29.343M ▼ $1.067B ▼ $1.098B ▼ $-30.945M ▼
Q3-2024 $51.093M $1.124B $1.119B $4.683M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-27.142M ▼ $19.687M ▲ $-18.165M ▲ $-1.247M ▼ $275K ▲ $17.483M ▲
Q2-2025 $-8.932M ▼ $17.679M ▲ $-18.593M ▲ $509K ▼ $-405K ▼ $15.958M ▲
Q1-2025 $-6.45M ▲ $16.837M ▲ $-47.697M ▼ $36.987M ▲ $6.127M ▲ $15.368M ▲
Q4-2024 $-36.714M ▲ $-22.14M ▲ $24.608M ▼ $-22.26M ▼ $-19.792M ▼ $-23.516M ▲
Q3-2024 $-37.745M $-31.72M $31.115M $-12.832M $-13.437M $-32.905M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Retail Vehicle
Retail Vehicle
 $0 ▲$0 ▲$0 ▲$0 ▲
Wholesale Vehicle
Wholesale Vehicle
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Vroom’s income statement shows a company that has dramatically shrunk its old business and is still loss‑making, but with signs of a smaller, more focused operation. Revenue has fallen sharply as the online car retail business was wound down, so the top line looks much smaller than in prior years. Gross profit is positive but modest, reflecting thinner activity and the shift away from high-volume car sales. Operating losses and EBITDA losses remain meaningful, yet they have narrowed versus the worst years, which is consistent with aggressive cost-cutting and the pivot toward financing and data. Net losses are still sizable relative to the now-small revenue base, so the company is not yet close to break-even. The extremely large swings in earnings per share are heavily distorted by the recent reverse stock split rather than by underlying business performance. Overall, the income statement depicts an early-stage rebuilding phase: the old model has been scaled down, the new model is not yet mature, and profitability remains a work in progress.

Balance Sheet

Balance Sheet The balance sheet highlights both the downsizing of the old business and elevated financial risk. Total assets have come down over time, which fits with exiting inventory-heavy e-commerce and slimming the footprint. Cash levels, however, have dropped very substantially from earlier years and now appear quite thin, leaving less of a cushion to absorb shocks or fund growth internally. Debt remains high relative to the reduced size of the company, creating meaningful leverage. Equity has swung from positive to slightly negative, indicating that cumulative losses have effectively exhausted shareholders’ capital. This negative equity position, combined with limited cash, points to a fragile capital structure and a reliance on lenders or new financing arrangements to support the strategy. The recent note purchase agreement underscores that Vroom is actively managing its funding needs. Overall, the balance sheet is tight: leaner than before, but with limited room for error and a clear need for careful capital management.

Cash Flow

Cash Flow Cash flow trends show a business that has consistently consumed cash, though the burn appears to be moderating as operations are scaled back. Operating cash flow has been negative every year, reflecting ongoing losses and the cash cost of running the business. The worst outflows were during the peak e-commerce period; more recently, the cash burn has improved as Vroom shut down the online sales platform and cut associated costs. Free cash flow is also negative, but capital spending has been relatively light. This means most of the cash usage has come from day-to-day operations rather than heavy investment in physical assets. The shift toward software, analytics, and financing is inherently less capital-intensive, which should help if the company can move closer to profitability. In practice, though, Vroom still depends on external capital to bridge the gap between cash outflows and inflows. Until operating cash flow turns sustainably positive, liquidity management and access to financing remain key risk factors.

Competitive Edge

Competitive Edge Vroom’s competitive profile has changed completely: it is no longer an online car dealer competing on branding and logistics, but a combination of a specialized auto lender (UACC) and an automotive data and analytics provider (CarStory). UACC focuses on non-prime auto lending, serving customers traditional banks often avoid. Its long operating history, dealer-centric tools, and established network of hundreds of dealerships provide a base of relationships that can be hard for new entrants to replicate quickly. However, non-prime lending is competitive, cyclical, and sensitive to credit quality and regulation, so execution and risk management are critical. CarStory operates in the data and analytics layer of the auto market, where its large dataset and machine-learning models help dealers with pricing, inventory, and merchandising decisions. The more data it processes, the more valuable its insights become, creating some network-effect advantages compared with smaller data providers. The real strategic opportunity lies in the combination: using CarStory’s intelligence to sharpen UACC’s underwriting and using UACC’s financing data to enrich CarStory’s models. While this integrated ecosystem could be a differentiator, it is still largely a promise that must be proven through results. Meanwhile, Vroom competes with other specialized lenders and several well-funded auto data and software platforms, so it is operating in crowded, fast-moving markets.

Innovation and R&D

Innovation and R&D Innovation is now central to Vroom’s story, but it is concentrated in software, data, and underwriting tools rather than in traditional R&D labs. UACC leans on proprietary technology to evaluate non-prime borrowers, process applications quickly, and manage loans. Its “common sense” lending approach is being augmented by more modern analytics, and deeper use of AI for credit decisions is a logical next step. If executed well, this can improve risk assessment and speed without dramatically increasing overhead. CarStory is the more clearly innovation-led asset. It collects and analyzes a very large volume of vehicle and consumer data, using machine learning to predict how quickly cars will sell, at what price, and which features matter most in each local market. Its tools for appraisal, pricing, and visual search try to turn complex data into simple, dealer-friendly decisions. Looking ahead, potential innovation paths include tighter integration between CarStory and UACC, new analytics products for other parts of the auto value chain, and possible commercialization of Vroom’s legacy e-commerce technology as software or licensing offerings. The main risk is that many competitors are also investing heavily in AI and data platforms, so Vroom must keep iterating quickly to maintain any edge it has.

Summary

Vroom is in the middle of a major transition from a cash-hungry, low-margin online car retailer to a leaner, technology- and finance-focused company built around UACC and CarStory. Financially, the business has shrunk and is still loss-making, with ongoing but reduced cash burn. The balance sheet is strained: cash is limited, leverage is high for the company’s current scale, and equity has turned negative, highlighting elevated financial risk and dependence on external funding. Strategically, the pivot aims to move Vroom into areas with potentially better long-term economics: non-prime auto lending and automotive data intelligence. UACC brings dealer relationships and credit expertise; CarStory contributes data scale and AI-driven insights. Together, they offer an integrated ecosystem that could, over time, support more disciplined lending and higher-value analytics services. Execution is the key uncertainty. Vroom must prove it can: - Grow UACC’s loan portfolio without taking on excessive credit risk, - Broaden adoption and monetization of CarStory’s tools, - Integrate data and lending in a way that clearly improves performance, and - Navigate its tight liquidity and leverage position. In short, Vroom now looks less like a retailer and more like a niche financial and data technology company with meaningful upside potential if the pivot succeeds, but also significant balance sheet and execution risks while the new model is still being built out.

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