CarLotz Announces Second Quarter 2021 Financial Results
- Unit Sales Grew 46% to 2,009, Ahead of Expectations
- Revenue Growth of 92% to $50.8 million
- Record Gross Profit of $4.2 million and GPU Ahead of Expectations
- Withdraws Previously Provided 2021 Outlook due to Channel Constraints
RICHMOND, Va., Aug. 09, 2021 (GLOBE NEWSWIRE) -- CarLotz, Inc. (“CarLotz” or the “Company”), a leading consignment-to-retail used vehicle marketplace, today announced financial results for the second quarter ended June 30, 2021.
Highlights of Second Quarter 2021 Financial Results
Net revenues increased 92% to $50.8 million from $26.4 million in the same period in 2020
Gross Profit increased 53% to $4.2 million from $2.7 million in the prior year period
Retail Gross Profit per Unit (“Retail GPU”) increased 17% to $2,175 from $1,858 in the prior year period
Retail unit sales were 2,009 compared to 1,376 in the prior year period, an increase of 46%
Net Loss attributable to common shareholders was $(7.2) million, or $(0.06) per diluted share, for the second quarter 2021 versus $(0.2) million, or $(0.00) per diluted share in the prior year period
Adjusted EBITDA was $(15.2) million compared to $(0.3) million in the second quarter of 2020
