Vroom (VRM) investor relations material

Executive summary

• Reported a net loss from continuing operations of $19.0M for Q1 2026, with an adjusted net loss of $18.2M attributable to controlling interest and common shareholders.

• Stockholders' equity stood at $98.4M and tangible book value at $86.5M as of March 31, 2026.

• Ended Q1 2026 with $56.4M in total available liquidity, including $14.5M in cash and equivalents.

• Issued $22.5M in preferred units in January 2026 to strengthen liquidity.

• UACC and CarStory remain the core businesses after the wind-down of ecommerce operations in March 2024.

Financial highlights

• Net loss from continuing operations was $19.0M for Q1 2026, compared to a net loss of $6.5M for Q1 2025.

• Net interest income after losses and recoveries declined 56.2% year-over-year to $5.7M.

• Total available liquidity was $56.4M as of March 31, 2026, including $14.5M in cash and equivalents, $14.9M in excess warehouse liquidity, and $27.0M from a delayed draw facility.

• Gross serviced portfolio decreased year-over-year, primarily due to amortization of legacy assets, partially offset by new indirect origination volume.

• Trailing twelve-month adjusted net income loss improved by $20M year-over-year.

Outlook and guidance

• Updated full-year 2026 guidance projects indirect origination volume between $475M and $515M.

• Adjusted net loss guidance for 2026 widened to a range of $(25)M to $(30)M, compared to previous guidance of $(20)M to $(25)M.

• Management expects existing cash, delayed draw facilities, and warehouse credit lines to be sufficient for at least the next 12 months.

• Ongoing focus on returning UACC to profitability through credit tightening, operational efficiency, and leveraging CarStory data.

• Actively negotiating to renew $600M in warehouse credit facilities expiring between June 2026 and April 2027.