VRM - Vroom beats on both Q1 Non-GAAP EPS & revenue announces business realignment plan

Vroom press release (NASDAQ:VRM): Q1 Non-GAAP EPS of -$0.71 beats by $0.30. Revenue of $923.8M (+56.3% Y/Y) beats by $51.09M. Vroom also announced that its board has approved a business realignment plan. Key aspects of the plan include right-sizing the organization through a workforce reduction. Company expects to achieve approximately $135M-$165M of cost reductions and operating improvements across its operations for the remainder of 2022.

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Vroom beats on both Q1 Non-GAAP EPS & revenue, announces business realignment plan