SFT - Shift Technologies GAAP EPS of $1.25 beats by $5.79 revenue of $65.6M misses by $7.61M

2023-03-28 16:08:35 ET

• Shift Technologies press release ( NASDAQ: SFT ): Q4 GAAP EPS of $1.25 beats by $5.79 .
• Revenue of $65.6M (-66.6% Y/Y) misses by $7.61M .
• Gross profit per unit was $895; Adjusted gross profit per unit (“Adjusted GPU”) was $1,041.
• Net income was $13.0 million or 20% of revenue, compared to a net loss of $75.8 million or 47% of revenue in the third quarter of 2022.

• First Quarter 2023 and Full Year 2023 Outlook

• We are providing guidance for the first quarter of fiscal year 2023 as follows:

• Revenue in the range of $56 - $58 million,

• Adjusted GPU in the range of $1,600 - $1,800

• Adjusted EBITDA loss of $24 - $26 million

• Q1'23 ending cash balance of approximately $70.0 million.

• Guidance for the 2023 full year is as follows:

• Adjusted SG&A expenses to end the year between $85 - $95 million annualized

For further details see: