VRM - Vroom -11% after top-line guidance disappoints
Vroom (VRM) is down sharply after guiding for Q4 revenue of $372M to $414M vs. $403.5M consensus. The company expects a Q4 EPS loss of $0.35 to $0.41. In addition Vroom expects e-commerce unit sales of 10,500 to 11,500, implying 25% sequential growth and Q4 year over year growth of 74% at the middle of the guidance range. Guidance from Vroom also includes average e-commerce selling price per unit of $24,500 to $25,500 in Q4 and average ecommerce gross profit per unit of $2,050 to $2,150. "We increased the velocity of the Vroom flywheel, drove conversion and increased GPPU. We will continue to execute our plan and invest in the growth of our business as we transform the market for buying and selling used vehicles," says CEO Paul Hennessy. Shares of Vroom are down 11.27% AH tp $36.20.Previously: Vroom EPS beats by $0.07, beats on revenue (Nov. 11)
For further details see:
Vroom -11% after top-line guidance disappoints