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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Vroom, Inc.    VRM

VROOM, INC.

(VRM)
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VROOM, INC. : Regulation FD Disclosure (form 8-K)

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09/08/2020 | 05:12pm EDT

Item 7.01. Regulation FD Disclosure.

The prospective information provided below regarding our future performance represents our management's estimates as of the date of this report only. This information, which includes forward-looking statements, has been prepared by our management and is qualified by, and subject to, the assumptions, risks and uncertainties discussed in this report that may cause actual results to differ materially. See "Cautionary Statement on Forward-Looking Statements" below and "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended June 30, 2020, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC").

Our inventory strategy is designed to take advantage of what we believe are structural shifts in consumer behavior and increased demand for the Vroom model, and we have continued to scale our inventory levels in the third quarter of 2020. As higher inventory levels lead to higher conversion, we have experienced continued growth in ecommerce units sold. As well, the increase in demand combined with continuing supply constraints in the broader market has led to better than expected improvements in our gross profit per unit. As of the date of this report, we have seen our results continue to improve after the disruptions in the early stages of the COVID-19 pandemic. Accordingly, we are updating the guidance we provided with our second quarter earnings release for Q3 2020 as follows:



  •   Ecommerce unit sales of 8,700 - 8,900 (from 8,500 - 8,800), average total
      revenue per unit of $24,500 (from $23,500) and average gross profit per unit
      of $1,850 - $1,950 (from $1,600 - $1,700).




  •   TDA unit sales of 1,400 - 1,600 (unchanged), average total revenue per unit
      of $24,500 (from $23,500) and average gross profit per unit of $1,700 -
      $1,800 (from $1,000 - $1,100).




  •   Wholesale unit sales of 4,500 - 5,000 (from 3,500 - 4,500), average total
      revenue per unit of $10,000 (unchanged) and average gross profit per unit of
      $500 - $600 (from $100 - $200).




  •   Total revenue of $290 million - $310 million (from $268 million - $290
      million).




  •   Total gross profit of $21 million - $23 million (from $16 million - $18
      million).




  •   Net loss per share of $(0.40) - $(0.36) (from $(0.42) - $(0.37)).

Prospective financial information is necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the prospective financial information described above will not materialize or will vary significantly from actual results. Accordingly, the prospective financial information provided above is only an estimate of what management believes is realizable as of the date of this report, and actual results may differ significantly from the prospective financial information. The prospective information that is presented as a range of results is not intended to imply that actual results could not fall outside of the estimated range. For further discussion of some of the factors that may cause actual results to vary materially from the information provided above, see "Cautionary Statement on Forward-Looking Statements" below and "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended June 30, 2020, as such factors may be updated from time to time in our other filings with the SEC.

The information contained in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

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Cautionary Statement on Forward-Looking Statements

This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this report that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our expectations for future results of operations. These statements are based on management's current assumptions and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this report, please see the risks and uncertainties identified under the heading "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended June 30, 2020, as such factors may be updated from time to time in our other filings with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements reflect our beliefs and assumptions only as of the date of this report. We undertake no obligation to update forward-looking statements to reflect future events or circumstances.

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© Edgar Online, source Glimpses


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