2023 Q1 Form 10-K Financial Statement

#000095017023005820 Filed on March 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $196.5M $209.3M $1.949B
YoY Change -78.73% -77.6% -38.8%
Cost Of Revenue $157.7M $179.9M $1.704B
YoY Change -81.28% -79.78% -42.86%
Gross Profit $38.81M $29.46M $244.8M
YoY Change -52.47% -34.11% 21.12%
Gross Profit Margin 19.75% 14.07% 12.56%
Selling, General & Admin $96.54M $90.76M $566.4M
YoY Change -48.65% -45.44% 3.39%
% of Gross Profit 248.77% 308.09% 231.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.64M $10.70M $38.71M
YoY Change 34.73% 187.84% 192.9%
% of Gross Profit 27.41% 36.33% 15.81%
Operating Expenses $96.54M $101.3M $566.4M
YoY Change -48.65% -40.38% 3.39%
Operating Profit -$68.26M -$71.86M -$571.8M
YoY Change -78.39% -42.62% 59.44%
Interest Expense $9.919M -$5.704M $40.69M
YoY Change 5.75% 36.62% 85.41%
% of Operating Profit
Other Income/Expense, Net -$11.24M -$16.28M -$43.18M
YoY Change -9.05% -232728.57% -66532.31%
Pretax Income -$74.77M $27.17M -$471.6M
YoY Change -77.59% -120.99% 27.4%
Income Tax $273.0K $2.405M -$19.68M
% Of Pretax Income 8.85%
Net Earnings -$75.04M $24.77M -$451.9M
YoY Change -75.83% -119.08% 21.84%
Net Earnings / Revenue -38.2% 11.83% -23.19%
Basic Earnings Per Share -$0.54 -$3.28
Diluted Earnings Per Share -$0.54 $0.18 -$3.28
COMMON SHARES
Basic Shares Outstanding 138.5M 138.2M 137.9M
Diluted Shares Outstanding 138.5M 137.9M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $316.7M $398.9M $398.9M
YoY Change -47.28% -64.77% -64.77%
Cash & Equivalents $316.7M $398.9M $398.9M
Short-Term Investments
Other Short-Term Assets $131.4M $131.4M $131.4M
YoY Change -50.48% -4.87% -4.87%
Inventory $213.0M $320.6M $320.6M
Prepaid Expenses
Receivables $10.08M $13.97M $13.97M
Other Receivables $207.8M $355.2M $355.2M
Total Short-Term Assets $879.0M $1.220B $1.220B
YoY Change -52.73% -41.96% -41.96%
LONG-TERM ASSETS
Property, Plant & Equipment $51.43M $50.20M $73.77M
YoY Change 15.16% 35.52% 40.78%
Goodwill $0.00 $0.00
YoY Change -100.0%
Intangibles $152.2M $158.9M
YoY Change -15.08% 463.37%
Long-Term Investments
YoY Change
Other Assets $24.17M $26.00M $26.00M
YoY Change -18.42% 3.88% 3.88%
Total Long-Term Assets $772.7M $398.9M $398.9M
YoY Change 61.2% 50.84% 50.84%
TOTAL ASSETS
Total Short-Term Assets $879.0M $1.220B $1.220B
Total Long-Term Assets $772.7M $398.9M $398.9M
Total Assets $1.652B $1.619B $1.619B
YoY Change -29.38% -31.59% -31.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.86M $34.70M $34.70M
YoY Change -44.68% -34.09% -34.09%
Accrued Expenses $58.49M $76.80M $54.96M
YoY Change -57.97% -36.8% 22.65%
Deferred Revenue $13.04M $10.66M
YoY Change -82.23% -85.94%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $261.7M $47.24M $324.2M
YoY Change 88.39% -90.79% -36.77%
Total Short-Term Liabilities $658.1M $703.3M $703.3M
YoY Change -35.31% -14.98% -14.98%
LONG-TERM LIABILITIES
Long-Term Debt $554.7M $402.2M $402.2M
YoY Change -19.31% -34.14% -34.14%
Other Long-Term Liabilities $18.38M $18.18M $38.31M
YoY Change 10.21% 344.57% 180.02%
Total Long-Term Liabilities $573.0M $420.3M $440.5M
YoY Change -18.61% -31.62% -29.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $658.1M $703.3M $703.3M
Total Long-Term Liabilities $573.0M $420.3M $440.5M
Total Liabilities $1.249B $1.144B $1.144B
YoY Change -27.8% -21.2% -21.2%
SHAREHOLDERS EQUITY
Retained Earnings -$1.676B -$1.601B
YoY Change 14.84% 39.34%
Common Stock $2.078B $2.076B
YoY Change 0.5% 0.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $402.2M $475.2M $475.2M
YoY Change
Total Liabilities & Shareholders Equity $1.652B $1.619B $1.619B
YoY Change -29.38% -31.59% -31.59%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$75.04M $24.77M -$451.9M
YoY Change -75.83% -119.08% 21.84%
Depreciation, Depletion And Amortization $10.64M $10.70M $38.71M
YoY Change 34.73% 187.84% 192.9%
Cash From Operating Activities -$85.02M -$85.96M -$109.1M
YoY Change 463.87% -64.66% -80.82%
INVESTING ACTIVITIES
Capital Expenditures $5.193M $4.266M $24.23M
YoY Change -26.82% -144.31% -14.71%
Acquisitions $267.5M
YoY Change 252.54%
Other Investing Activities $52.01M $21.32M -$140.0M
YoY Change -125.39% 84.49%
Cash From Investing Activities $46.82M $17.06M -$164.2M
YoY Change -122.09% -277.18% 57.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.10M -63.05M -469.5M
YoY Change -76.29% -188.16% -158.85%
NET CHANGE
Cash From Operating Activities -85.02M -85.96M -109.1M
Cash From Investing Activities 46.82M 17.06M -164.2M
Cash From Financing Activities -45.10M -63.05M -469.5M
Net Change In Cash -83.30M -132.0M -742.8M
YoY Change -80.04% -27.23% -695.47%
FREE CASH FLOW
Cash From Operating Activities -$85.02M -$85.96M -$109.1M
Capital Expenditures $5.193M $4.266M $24.23M
Free Cash Flow -$90.21M -$90.23M -$133.3M
YoY Change 306.85% -61.37% -77.68%

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CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13215000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4654000
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4809000
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2872000
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
938000
CY2022 us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
45589000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-23855000
CY2022 vrm Loss On Finance Receivables And Securitization Debt Net
LossOnFinanceReceivablesAndSecuritizationDebtNet
66839000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
11957000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
13409000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
13254000
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
1812000
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
9471000
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
6588000
CY2020 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
20470000
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
13406000
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9416000
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2340000
CY2022 vrm Provision To Record Finance Receivables Held For Sale At Lower Of Cost Or Fair Value
ProvisionToRecordFinanceReceivablesHeldForSaleAtLowerOfCostOrFairValue
6541000
CY2022 vrm Amortization Of Unearned Discounts On Finance Receivables At Fair Value
AmortizationOfUnearnedDiscountsOnFinanceReceivablesAtFairValue
-14593000
CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
7512000
CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-203000
CY2020 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-35000
CY2022 us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
625575000
CY2022 vrm Increase Decrease In Principal Payments Received On Finance Receivables Held For Sale
IncreaseDecreaseInPrincipalPaymentsReceivedOnFinanceReceivablesHeldForSale
64521000
CY2022 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
509612000
CY2022 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
7701000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-78060000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
53206000
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
32068000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-403924000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
312208000
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
224489000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4146000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
32452000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
9117000
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2546000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
9172000
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4556000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-24281000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
19321000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
14066000
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-53553000
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
61170000
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
28431000
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-65148000
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
50943000
CY2020 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
7499000
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-38325000
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
29241000
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
19500000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-109065000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-568688000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-355254000
CY2022 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
56484000
CY2022 vrm Principal Payments Received On Finance Receivables At Fair Value
PrincipalPaymentsReceivedOnFinanceReceivablesAtFairValue
-132391000
CY2022 us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
43262000
CY2022 vrm Principal Payments Received On Beneficial Interests
PrincipalPaymentsReceivedOnBeneficialInterests
-8341000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24234000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28413000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11329000
CY2022 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
47900000
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
267488000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
75875000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-164212000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-104288000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11329000
CY2022 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
192839000
CY2022 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1403042000
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2713350000
CY2020 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1242736000
CY2022 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1638855000
CY2021 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2529780000
CY2020 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1086966000
CY2022 vrm Proceeds From Warehouse Credit Facilities Of Consolidated Variable Interest Entities
ProceedsFromWarehouseCreditFacilitiesOfConsolidatedVariableInterestEntities
520800000
CY2022 vrm Repayments Of Warehouse Credit Facilities Of Consolidated Variable Interest Entities
RepaymentsOfWarehouseCreditFacilitiesOfConsolidatedVariableInterestEntities
467216000
CY2022 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
90208000
CY2021 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
625000000
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
16129000
CY2020 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
21694000
CY2020 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
497233000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
567952000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5766000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2341000
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4212000
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-495000
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-7955000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-469488000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
797712000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1237035000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-742765000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
124736000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
870452000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1214775000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1090039000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
219587000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
472010000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1214775000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1090039000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
34907000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
15964000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
8540000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2409000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
403000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
163000
CY2022 vrm Fair Value Of Beneficial Interests Received In Securitization Transactions
FairValueOfBeneficialInterestsReceivedInSecuritizationTransactions
30082000
CY2020 vrm Conversion Of Redeemable Convertible Preferred Stock Warrant To Common Stock Warrant
ConversionOfRedeemableConvertiblePreferredStockWarrantToCommonStockWarrant
21873000
CY2020 vrm Issuance Of Common Stock As Upfront Payment To Nonemployee
IssuanceOfCommonStockAsUpfrontPaymentToNonemployee
2127000
CY2021 vrm Issuance Of Common Stock For Acquisition Of Business
IssuanceOfCommonStockForAcquisitionOfBusiness
38811000
CY2021 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
1017000
CY2022Q2 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
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
32903000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20418000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
50201000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
37042000
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
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;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:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">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:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;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:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The preparation of 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><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0
CY2022Q4 vrm Financing Receivable Held For Sale Valuation Allowances
FinancingReceivableHeldForSaleValuationAllowances
10500000
CY2022 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
400000
CY2021 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
300000
CY2020 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
100000
CY2022 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P8Y
CY2022 vrm Business Combination Measurement Period
BusinessCombinationMeasurementPeriod
P1Y
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;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:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Significant Customers</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;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:&quot;Arial&quot;, sans-serif;min-width:fit-content;">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><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:6.773%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><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:&quot;Arial&quot;, sans-serif;min-width:fit-content;">For the years ended December 31, 2022, 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 December 31, 2022 and 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:&quot;Arial&quot;, sans-serif;min-width:fit-content;">.</span>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
398900000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
73100000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
18400000
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17400000
CY2022Q4 vrm Reserve For Chargebacks
ReserveForChargebacks
8200000
CY2021Q4 vrm Reserve For Chargebacks
ReserveForChargebacks
9600000
CY2022Q4 vrm Cumulative Profit Sharing Payment Recognized
CumulativeProfitSharingPaymentRecognized
22500000
CY2021Q4 vrm Cumulative Profit Sharing Payment Recognized
CumulativeProfitSharingPaymentRecognized
17900000
CY2022 us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
RevenuePracticalExpedientIncrementalCostOfObtainingContract
true
CY2022 vrm Proforma Adjustments Related To Non Recurring Acquisition Related Cost
ProformaAdjustmentsRelatedToNonRecurringAcquisitionRelatedCost
5700000
CY2022 vrm Non Recurring Tax Adjustment Benefit
NonRecurringTaxAdjustmentBenefit
24100000
CY2021 vrm Non Recurring Tax Adjustment Benefit
NonRecurringTaxAdjustmentBenefit
-34900000
CY2022Q4 vrm Vehicles
Vehicles
317994000
CY2021Q4 vrm Vehicles
Vehicles
724542000
CY2022Q4 vrm Parts And Accessories
PartsAndAccessories
2654000
CY2021Q4 vrm Parts And Accessories
PartsAndAccessories
1842000
CY2022Q4 us-gaap Inventory Net
InventoryNet
320648000
CY2021Q4 us-gaap Inventory Net
InventoryNet
726384000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
24200000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
22400000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
83104000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
57460000
CY2020Q4 us-gaap Goodwill
Goodwill
78172000
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
80645000
CY2021Q4 us-gaap Goodwill
Goodwill
158817000
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
42886000
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
201703000
CY2022Q4 us-gaap Goodwill
Goodwill
0
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
201700000
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
190300000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
31390000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
158910000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
34340000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6133000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
28207000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25300000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6100000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
27022000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
27022000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
27022000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
21979000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
21882000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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