LOTZ - CarLotz slumps as it pulls guidance citing uncertainties amid supply disruption

CarLotz (NASDAQ:LOTZ) slides 10% following yesterday's earnings report. Net revenues increased 92% Y/Y to $50.8 million (down 10.2% Q/Q) vs. a consensus of 48.1 million. Net loss was $7.2 million vs. $15.0 million in previous quarter. Retail unit sales were 2,009 compared to 2,554 in the prior quarter; Retail Gross Profit per Unit were $2,175 from $1,182 prior. Adjusted EBITDA was $(15.2) million compared to $(15) in previous quarter. The Company ended the quarter with cash and marketable securities of $259 million. The Company expects to see unit growth in the third quarter over the second quarter of 2021. "As a result of the continued disruption caused by the chip shortage and the corresponding lack of visibility into the wholesale market and commercial vehicle sourcing, the Company is withdrawing its previously provided financial outlook for fiscal 2021 at this time." Previously (Aug. 9): CarLotz beats on revenue Related: CarLotz, Inc. (LOTZ) CEO Michael Bor

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CarLotz slumps as it pulls guidance citing uncertainties amid supply disruption