VRM · Vroom, Inc.

Vroom, Inc. announced its first quarter 2026 results on May 14, 2026, via press release (Exhibit 99.1) and investor presentation (Exhibit 99.2). The company reported a GAAP net loss from continuing operations of $(19.0) million and net loss attributable to controlling interest and common shareholders of $(19.6) million, compared to non-GAAP combined figures of $(38.6) million and $(58.4) million for the prior year quarter, reflecting impacts from fresh-start accounting post its January 2025 emergence from Prepackaged Chapter 11. Adjusted net loss was $(18.2) million, with trailing twelve months improving by $20.6 million year-over-year due to reduced losses. Key drivers included net interest income of $30.4 million (down 1.8% YoY), offset by higher realized and unrealized losses of $24.7 million (up 38.0% YoY), and lower noninterest income of $7.2 million (down 36.0% YoY) from declines in warranties, GAP, and CarStory revenue. Expenses decreased 13.1% to $31.8 million, driven by no impairment charges and lower professional fees. Segmentally, UACC showed adjusted net loss of $(15.0) million with higher losses, while CarStory had $(0.1) million loss amid 52.8% revenue drop. Balance sheet strengthened with $98.4 million equity, $86.5 million tangible book value, and $56.4 million liquidity, bolstered by $22.5 million preferred stock issuance and warehouse facilities. CEO Tom Shortt highlighted the new Fast Lane dealer portal on the Credit Decision Engine platform, noting strong performance from post-Q3 2025 vintages. Guidance updated full-year adjusted net loss to $25-30 million, with indirect origination volume steady at $475-515 million. Upcoming $28.5 million notes exchange for $50 million convertible note due 2032 enhances liquidity. Results reflect Successor basis post-restructuring, limiting comparability to prior periods.