$VRMMQ
Vroom, Inc.

2021 Q4 Form 10-Q Financial Statement

#000095017021003792 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $934.5M $896.8M $323.0M
YoY Change 130.28% 177.63%
Cost Of Revenue $889.8M $838.7M $297.6M
YoY Change 130.69% 181.85%
Gross Profit $44.71M $58.09M $25.45M
YoY Change 122.42% 128.29%
Gross Profit Margin 4.78% 6.48% 7.88%
Selling, General & Admin $166.3M $148.7M $61.13M
YoY Change 112.98% 143.29%
% of Gross Profit 372.08% 256.02% 240.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.718M $3.469M $1.200M
YoY Change 167.48% 189.08%
% of Gross Profit 8.32% 5.97% 4.72%
Operating Expenses $170.0M $148.7M $61.13M
YoY Change 113.78% 143.29%
Operating Profit -$125.3M -$94.01M -$36.87M
YoY Change 110.86% 154.94%
Interest Expense -$4.175M $7.028M $2.259M
YoY Change 221.15% 211.11%
% of Operating Profit
Other Income/Expense, Net $7.000K $10.00K $26.00K
YoY Change -61.54% -40.91%
Pretax Income -$129.4M -$98.09M -$37.82M
YoY Change 113.21% 159.39% -4.78%
Income Tax $375.0K $29.00K $33.00K
% Of Pretax Income
Net Earnings -$129.8M -$98.12M -$37.85M
YoY Change 113.83% 159.24% -4.81%
Net Earnings / Revenue -13.89% -10.94% -11.72%
Basic Earnings Per Share -$0.72
Diluted Earnings Per Share -$947.8K -$717.4K -$313.0K
COMMON SHARES
Basic Shares Outstanding 136.9M 136.8M 119.3M
Diluted Shares Outstanding 136.8M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.132B $1.327B $1.161B
YoY Change 7.21% 14.22%
Cash & Equivalents $1.132B $1.327B $1.189B
Short-Term Investments
Other Short-Term Assets $138.2M $132.0M $44.30M
YoY Change 140.68% 197.89%
Inventory $726.4M $601.8M $299.4M
Prepaid Expenses
Receivables $105.4M $89.90M $33.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.102B $2.150B $1.539B
YoY Change 31.57% 39.73%
LONG-TERM ASSETS
Property, Plant & Equipment $37.04M $30.56M $24.40M
YoY Change 145.44% 25.24%
Goodwill $158.8M $158.8M $78.17M
YoY Change 103.16% 103.16%
Intangibles $28.21M $29.76M
YoY Change 82861.76%
Long-Term Investments
YoY Change
Other Assets $25.03M $23.25M $13.40M
YoY Change 59.02% 73.51%
Total Long-Term Assets $264.5M $259.4M $116.1M
YoY Change 109.59% 123.41%
TOTAL ASSETS
Total Short-Term Assets $2.102B $2.150B $1.539B
Total Long-Term Assets $264.5M $259.4M $116.1M
Total Assets $2.367B $2.410B $1.655B
YoY Change 37.28% 45.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.65M $59.52M $29.60M
YoY Change 59.91% 101.09%
Accrued Expenses $121.5M $104.7M $21.40M
YoY Change 104.54% 389.22%
Deferred Revenue $75.80M $64.09M
YoY Change 205.39%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $512.8M $441.5M $249.0M
YoY Change 55.77% 77.3%
Total Short-Term Liabilities $827.3M $743.6M $364.5M
YoY Change 71.38% 103.99%
LONG-TERM LIABILITIES
Long-Term Debt $610.6M $609.8M $0.00
YoY Change
Other Long-Term Liabilities $4.090M $4.204M $12.60M
YoY Change 90.14% -66.63%
Total Long-Term Liabilities $614.7M $4.204M $12.60M
YoY Change 28477.78% -66.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $827.3M $743.6M $364.5M
Total Long-Term Liabilities $614.7M $4.204M $12.60M
Total Liabilities $1.452B $1.369B $377.1M
YoY Change 192.09% 263.01%
SHAREHOLDERS EQUITY
Retained Earnings -$1.149B -$1.019B
YoY Change 47.68%
Common Stock $2.064B $2.060B
YoY Change 2.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $915.2M $1.041B $1.278B
YoY Change
Total Liabilities & Shareholders Equity $2.367B $2.410B $1.655B
YoY Change 37.28% 45.6%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$129.8M -$98.12M -$37.85M
YoY Change 113.83% 159.24% -4.81%
Depreciation, Depletion And Amortization $3.718M $3.469M $1.200M
YoY Change 167.48% 189.08%
Cash From Operating Activities -$243.2M -$173.6M -$182.9M
YoY Change 41.1% -5.06%
INVESTING ACTIVITIES
Capital Expenditures -$9.627M -$9.843M -$1.930M
YoY Change 53.54% 410.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $270.0K
YoY Change
Cash From Investing Activities -$9.627M -$9.573M -$1.930M
YoY Change 53.54% 396.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $569.5M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 71.51M 78.61M 701.2M
YoY Change -9.9% -88.79%
NET CHANGE
Cash From Operating Activities -243.2M -173.6M -182.9M
Cash From Investing Activities -9.627M -9.573M -1.930M
Cash From Financing Activities 71.51M 78.61M 701.2M
Net Change In Cash -181.3M -104.6M 516.4M
YoY Change 82.66% -120.25%
FREE CASH FLOW
Cash From Operating Activities -$243.2M -$173.6M -$182.9M
Capital Expenditures -$9.627M -$9.843M -$1.930M
Free Cash Flow -$233.6M -$163.8M -$180.9M
YoY Change 40.63% -9.49%

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OtherNoncashIncomeExpense
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1331000
us-gaap Share Based Compensation
ShareBasedCompensation
9754000
us-gaap Share Based Compensation
ShareBasedCompensation
8930000
us-gaap Inventory Write Down
InventoryWriteDown
5625000
us-gaap Inventory Write Down
InventoryWriteDown
2917000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
20470000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
32936000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4297000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
183731000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
96582000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
39356000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Other Operating Assets
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7390000
us-gaap Increase Decrease In Other Operating Assets
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2246000
us-gaap Increase Decrease In Accounts Payable
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26144000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
10478000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
43512000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
15679000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
39227000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-24000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
38655000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
5335000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-325459000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-182874000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18786000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5057000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
75875000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-94661000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5057000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1901457000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
842865000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1789215000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
767359000
vrm Payment Of Vehicle Floor Plan Upfront Commitment Fees
PaymentOfVehicleFloorPlanUpfrontCommitmentFees
1125000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
625000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
21694000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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vrm Common Stock Shares Withheld To Satisfy Employee Tax Withholding Obligations
CommonStockSharesWithheldToSatisfyEmployeeTaxWithholdingObligations
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us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
504023000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
569471000
vrm Payments Of Costs Related To Follow On Public Offering
PaymentsOfCostsRelatedToFollowOnPublicOffering
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
133000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-315000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
726198000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1157667000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
306078000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1090039000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
329000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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vrm Issuance Of Common Stock For Acquisition Of Business
IssuanceOfCommonStockForAcquisitionOfBusiness
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
219587000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
5340000
vrm Common Stock Shares Cancelled To Satisfy Working Capital Adjustment Related To Acquisition
CommonStockSharesCancelledToSatisfyWorkingCapitalAdjustmentRelatedToAcquisition
-219000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
1017000
vrm Conversion Of Redeemable Convertible Preferred Stock Warrant To Common Stock Warrant
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21873000
vrm Issuance Of Common Stock As Upfront Payment To Nonemployee
IssuanceOfCommonStockAsUpfrontPaymentToNonemployee
2127000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1652000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
55000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q2 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
2-for-1
CY2020Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2020Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
10800000
CY2020Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
54.50
CY2020Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
569500000
CY2020Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
1500000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:6.0pt;font-family:Arial;"> </span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets, liabilities, revenue, and expenses and related disclosures. On an ongoing basis, the Company evaluates its estimates, including, among others, those related to income taxes, the realizability of inventory, stock-based compensation, contingencies, revenue-related reserves, fair value measurements, goodwill, and useful lives of property and equipment and intangible assets. The Company bases its estimates on historical experience, market conditions, and on various other assumptions that are believed to be reasonable. Actual results may differ from these estimates.</span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;line-height:1.2458333333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:12.0pt;font-family:Arial;"> </span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;line-height:1.2458333333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">Due to the evolving and uncertain nature of the COVID-19 pandemic, it is reasonably possible that it could materially impact the Company’s estimates, particularly those noted above that require consideration of forecasted financial information, in the near to medium term. The ultimate impact will depend on numerous evolving factors that the Company may not be able to accurately predict, including the duration and extent of the pandemic, the impact of federal, state, local and foreign governmental actions, consumer behavior in response to the pandemic and other economic and operational conditions the Company may face.</span></p>
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;">Concentration of Credit Risk and Significant Customers</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:6.0pt;font-family:Arial;"> </span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents and accounts receivable, which are unsecured. The Company’s cash balances are maintained at various large, reputable financial institutions. Deposits held with financial institutions may at times exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and, therefore, management believes they bear minimal risk. The Company’s cash equivalents primarily consist of money market funds that hold investments in highly liquid U.S. treasury securities and commercial paper investments. Concentration of credit risk with respect to accounts receivable is generally mitigated by a large customer base.</span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:12.0pt;font-family:Arial;"> </span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">For the three and nine months ended September 30, 2021 and 2020, no customer represented 10% or more of the Company’s revenues and no customer represented more than 10% of the Company’s accounts receivable as of September 30, 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> and December 31, 2020.</span></p>
CY2020Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
569500000
CY2020Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
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CY2021Q3 vrm Reserve For Chargebacks
ReserveForChargebacks
8100000
CY2020Q4 vrm Reserve For Chargebacks
ReserveForChargebacks
3800000
CY2021Q3 vrm Cumulative Profit Sharing Payment Recognized
CumulativeProfitSharingPaymentRecognized
18000000.0
CY2020Q4 vrm Cumulative Profit Sharing Payment Recognized
CumulativeProfitSharingPaymentRecognized
11500000
us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
RevenuePracticalExpedientIncrementalCostOfObtainingContract
true
CY2021Q3 vrm Vehicles
Vehicles
599466000
CY2020Q4 vrm Vehicles
Vehicles
421458000
CY2021Q3 vrm Parts And Accessories
PartsAndAccessories
2287000
CY2020Q4 vrm Parts And Accessories
PartsAndAccessories
2189000
CY2021Q3 us-gaap Inventory Net
InventoryNet
601753000
CY2020Q4 us-gaap Inventory Net
InventoryNet
423647000
CY2021Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
18500000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
12900000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
258000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6215000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29762000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
292000
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4830000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29762000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28426000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18256000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13334000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
30559000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15092000
CY2021Q3 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
100000
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
200000
CY2019Q4 us-gaap Goodwill
Goodwill
78172000
CY2020Q3 us-gaap Goodwill
Goodwill
78172000
CY2020Q4 us-gaap Goodwill
Goodwill
78172000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
80645000
CY2021Q3 us-gaap Goodwill
Goodwill
158817000
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
34592000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
34000
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1600000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4600000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1555000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6220000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6215000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6215000
CY2021Q3 vrm Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
3342000
CY2021Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
14200000
CY2020Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
9106000
CY2021Q3 vrm Accrued Vehicle Related Expenses Current
AccruedVehicleRelatedExpensesCurrent
29492000
CY2020Q4 vrm Accrued Vehicle Related Expenses Current
AccruedVehicleRelatedExpensesCurrent
13062000
CY2021Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
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CY2020Q4 us-gaap Taxes Payable Current
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CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5749000
CY2021Q3 us-gaap Accrued Professional Fees Current
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6722000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4890000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9502000
CY2020Q4 us-gaap Other Accrued Liabilities Current
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11155000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
104694000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
59405000
CY2021Q3 vrm Vehicle Payable Current
VehiclePayableCurrent
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CY2020Q4 vrm Vehicle Payable Current
VehiclePayableCurrent
25086000
CY2021Q3 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
37081000
CY2020Q4 us-gaap Contract With Customer Refund Liability Current
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CY2021Q3 vrm Other Current
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CY2020Q4 vrm Other Current
OtherCurrent
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CY2021Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
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CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
30275000
CY2020Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
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CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2021Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2021Q3 us-gaap Preferred Stock Shares Outstanding
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0
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
On June 11, 2020, the Company amended its certificate of incorporation to effect a 2-for-1 forward stock split of shares of the Company’s outstanding common stock, such that each share of common stock, $0.001 par value became two shares of common stock, $0.001 par value per share.
CY2020Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2021Q3 vrm Segment Assets
SegmentAssets
0
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021Q3 us-gaap Gross Profit
GrossProfit
58089000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2020Q3 us-gaap Gross Profit
GrossProfit
25445000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2249764000
us-gaap Gross Profit
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157393000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
951871000
us-gaap Gross Profit
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51439000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
896756000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
323005000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2249764000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
951871000
CY2021Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
148718000
CY2020Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
61127000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
381482000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
167418000
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3376000
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1191000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
9276000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3239000
CY2021Q3 us-gaap Interest Expense
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7028000
us-gaap Interest Expense
InterestExpense
14720000
CY2020Q3 us-gaap Interest Expense
InterestExpense
2259000
us-gaap Earnings Per Share Basic And Diluted
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-2.65
us-gaap Investment Income Interest
InvestmentIncomeInterest
7288000
us-gaap Investment Income Interest
InvestmentIncomeInterest
3960000
us-gaap Fair Value Adjustment Of Warrants
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20470000
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
10000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
53731475
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.72
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.31
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.77
us-gaap Interest Expense
InterestExpense
6382000
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2930000
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1289000
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
26000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
58000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
111000
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-98093000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-37817000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-240739000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-141999000
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0003
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0009
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0016
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0010
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-98122000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-37850000
us-gaap Net Income Loss
NetIncomeLoss
-241118000
us-gaap Net Income Loss
NetIncomeLoss
-142137000
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
136766015
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
121123472
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
136256901
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17463721
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11338778

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