Vroom reports Q3 EPS ($21.99) vs. ($47.38) last year

Reports $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, and $(25.5) million Adjusted EBITDA. Tom Shortt, the company’s CEO, said, “Since winding down our ecommerce used automotive dealer business, we have been focused on maximizing the value of our remaining assets for our stakeholders. We believe eliminating our unsecured notes will significantly strengthen our balance sheet and allow us to emerge without any long-term debt at Vroom (VRM), Inc., while its subsidiary, UACC, will continue to be obligated to debt that is related to asset-backed securitizations and their trust preferred securities. Our team remains focused on executing our Long-Term Strategic Plan announced in September. We continue to make progress on our key initiatives and are focused on portfolio performance, improving processes and technology, digitization and automation, and reducing costs across the business.”