Vroom (VRM) investor relations material

Executive summary

• Emerged from Chapter 11 bankruptcy on January 14, 2025, eliminating parent-level debt, recapitalizing the balance sheet, and applying fresh start accounting, making pre- and post-emergence results not directly comparable.

• Discontinued ecommerce and used vehicle dealership operations, now focused on UACC (auto finance) and CarStory (AI analytics for auto retail).

• Issued $10M in 5% convertible notes due 2030 and expanded a delayed draw facility to $35M.

• Net loss from continuing operations was $27.1M for Q3 2025, improved year-over-year.

• Adjusted net loss for Q3 2025 was $25.7M, up 29.8% YoY for UACC but improved year-over-year overall.

Financial highlights

• Net loss for the nine months ended September 30, 2025, was $41.6M, a significant improvement from a $128.6M loss in the prior year.

• Consolidated total available liquidity was $59.2M as of September 30, 2025, including $12.4M in cash and $35.0M from a delayed draw facility.

• Interest income for Q3 2025 was $44.8M, down 10.7% year-over-year; net interest income after losses and recoveries was negative $11.7M.

• Total expenses for Q3 2025 were $24.8M, down 44.7% year-over-year.

• Noninterest income for Q3 2025 totaled $9.5M, down from $10.7M in Q3 2024.

Outlook and guidance

• Management expects continued pressure from higher credit losses and macroeconomic headwinds into 2026.

• Full-year adjusted net loss is expected to align with the original plan of approximately $(56) million, with Q1 gains offset by Q3 mark-to-market losses.

• Focus remains on improving UACC profitability, reducing credit losses, and leveraging CarStory data for underwriting and servicing.

• Liquidity is expected to be sufficient for at least the next 12 months, supported by cash, credit facilities, and the delayed draw facility.