Vroom, Inc. (VRM) stock plummeted 39.39% in the current-market trading session at the price of $3.68 after it published financial results for the fourth quarter and full-year 2021.
Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .
VRM is an innovative eCommerce forum developed to provide a better way to buy and sell second-hand automobiles. Its data-driven technology helps customers in a wide selection of vehicles, competitive financing, transparent pricing, and home delivery.
VRM Q4 2021 Earnings Report
On 28th February 2021, VRM reported its financial results for the quarter and fiscal year ended 31st December 2021. The company has also provided its current business updates. VRM sold a total of 32,090 units during the quarter, a gain of 62.1% from the same period of 2020. In the Q4 of 2021, the revenue was $934.5M, an increment of 130.3% year-over-year.
For the Q4 ended 31st December 2021, the gross profit totaled $44.7M. It represents a 122.4% gain compared to the same quarter last year. Loss from operations grew 110.9% to $125.3M for the Q4 of 2021. The company had a net loss of $129.8M for the Q4 of 2021. It represents a surge of 114.0% from the same quarter of 2020.
Chief Executive Officer of VRM, Mr. Paul Hennessy, remarked that he is proud of their performance during 2021. They earned record revenues, higher unit sales, and record e-commerce gross profit per unit. Meanwhile, they developed their last-mile delivery operations and reconditioning capability.
VRM will continue to evolve its business in 2022 as they welcome Tom Shortt, the new COO. Mr. Tom will lead the company’s vision to deliver an exceptional consumer experience and attain operational excellence. He has never been more hopeful about the future for VRM, Mr. Paul added.
Chief Financial Officer of VRM, Mr. Robert Krakowiak, commented that they are happy with their 2021 progress on the ecommerce gross profit, raising by 25% despite Q4 headwinds. Additionally, their SG&A per e-commerce transaction had lowered by 18% yearly. They anticipate further growth in e-commerce GPPU and their SG&A spend for year 2022.