1. A smaller, less established Carvana.

2. The Amazon of used cars.

3. An online-only CarMax.

• Online Used Car Sales: Facilitates the purchase of pre-owned vehicles directly to consumers through an e-commerce platform, including home delivery.
• Online Used Car Purchases: Allows individuals to sell their used vehicles to Vroom through an online appraisal and pickup service.
• Vehicle Financing Solutions: Connects customers with various third-party lenders to secure financing for their vehicle purchases.
• Vehicle Protection Plans: Offers extended warranties and service contracts for purchased vehicles to provide additional coverage beyond the manufacturer's warranty.

Vroom, Inc. (symbol: VRM) has undergone a significant strategic shift. As of January 2024, the company announced its exit from the used vehicle e-commerce business, meaning it no longer primarily sells vehicles directly to individual consumers.

Vroom's current operations are focused on its two remaining business lines:

• United Auto Credit Corporation (UACC): A provider of automotive finance solutions. UACC primarily originates vehicle financing for consumers through a network of franchised and independent automobile dealerships.
• CarStory: An artificial intelligence-powered analytics and digital merchandising platform for the automotive industry. CarStory provides data-driven insights and tools primarily to automobile dealerships.

Therefore, Vroom (VRM) now primarily sells to **other companies**, specifically **automobile dealerships**.

Due to the nature of these businesses, Vroom partners with a broad and diverse network of dealerships across the United States for both UACC's lending services and CarStory's analytics platform. Vroom does not publicly disclose a list of specific, named customer companies (dealerships) that utilize its services. As the customer base consists of a vast number of individual dealership entities, the majority of which are privately held, listing specific names of public companies as major customers is not feasible or publicly available.

• KAR Auction Services, Inc. (KAR)
• ACV Auctions Inc. (ACVA)

Thomas Shortt
Chief Executive Officer

Thomas Shortt has served as Vroom's Chief Executive Officer and a member of its board of directors since May 2022. He previously held the role of Vroom's Chief Operating Officer. Prior to joining Vroom, Mr. Shortt was a Senior Vice President at Walmart, where he was responsible for developing the e-commerce supply chain strategy and driving improvements through advanced analytics, processes, and systems. Before his tenure at Walmart, Mr. Shortt held senior leadership positions focused on supply chain, fulfillment, and logistics, with a strong emphasis on change management and business transformation, at companies such as Home Depot, ACCO Brands, Unisource, Fisher Scientific, and Office Depot. He holds a bachelor's degree in Accounting from the University of Akron and is a graduate of the Harvard Business School Advanced Management Program.

Jon Sandison
Chief Financial Officer

Jon Sandison has served as Chief Financial Officer and Treasurer of Vroom since May 2025. Prior to this role, he was the Chief Financial Officer of United Auto Credit Corporation (UACC), a Vroom subsidiary, since February 2024. Mr. Sandison initially joined Vroom in October 2022 as the Vice President of Investor Relations and Financial Planning & Analysis. From 2017 to 2022, he led global Financial Planning & Analysis at Stoneridge, Inc. His previous experience also includes leadership roles in Treasury and Financial Planning & Analysis at Yazaki North America from 2015 to 2017, and leadership roles in Commercial and Community Banking at J.P. Morgan Chase from 2009 to 2015. Mr. Sandison holds a Bachelor of Business Administration from Wayne State University.

The key risks to Vroom's (VRM) business, following its pivot from direct-to-consumer e-commerce to a wholesale marketplace focused on automotive finance and data analytics in January 2024, are primarily centered around its financial viability, the inherent challenges of its lending arm, and competition in its data analytics segment.

1. Financial Instability and Operating Losses: Vroom has a history of significant operating losses and financial struggles, which led to the cessation of its e-commerce operations and a Chapter 11 bankruptcy filing in November 2024. Despite restructuring its debt and focusing on its subsidiaries, United Auto Credit Corporation (UACC) and CarStory, the company continues to report net losses. For instance, Vroom posted a net loss from continuing operations of $(44.7) million in the first quarter of 2024. Analysts have expressed concerns about the sustainability of the "new Vroom" given its ongoing losses.
2. Risks in the Auto Finance Sector: Vroom's automotive lending subsidiary, UACC, which focuses on non-prime borrowers, faces substantial risks. These include high default rates, regulatory changes in the lending sector, and broader economic conditions that can impact consumer credit and increase loan delinquencies. In 2024, Vroom experienced $120 million in realized losses from its lending operations, implying a default rate of approximately 14.3%.
3. Wholesale Used Vehicle Market Volatility and Competition in AI Analytics: Vroom's wholesale business, including CarStory's AI-powered analytics and digital services, is susceptible to the inherent volatility of the used vehicle market, which is influenced by supply and demand fluctuations. CarStory also operates in a competitive landscape, requiring continuous innovation in AI analytics and digital services to maintain its market relevance and competitive edge against other players in the automotive retail sector.

Accelerating deterioration of credit quality and escalating default rates in the subprime auto loan sector.

• Automotive finance, through its subsidiary United Auto Credit Corporation (UACC).
• AI-powered analytics and digital services for automotive retail, through its CarStory brand.

• Automotive Finance (United States): While a specific market size for *used car* automotive finance provided by third-party lenders like UACC is not explicitly detailed in the search results, the overall U.S. used car market is substantial. The U.S. used car market size is estimated at USD 1.05 trillion in 2025 and is expected to reach USD 1.20 trillion by 2030. This figure represents the total value of used cars sold, which would be the underlying market for automotive finance related to used vehicles.
• AI-powered Analytics and Digital Services for Automotive Retail: Null

Vroom (VRM) is primarily focused on driving future revenue growth through its remaining core businesses, United Auto Credit Corporation (UACC) and CarStory, following the discontinuation of its e-commerce operations in January 2024. The expected drivers of future revenue growth over the next 2-3 years include:

1. Expansion of United Auto Credit Corporation (UACC) automotive finance business: Vroom's UACC subsidiary, a prominent automotive finance company, is focused on growing its services to both independent and franchise dealers. This includes strengthening its loan portfolio performance and leveraging its extended warehouse capacity to originate more loans.
2. Growth and monetization of CarStory's AI-powered analytics and digital services: CarStory, a leader in AI-powered analytics and digital services for the automotive retail industry, is positioned to drive revenue by serving and expanding its third-party customer base. Vroom intends to capitalize on the increasing demand for data-driven insights in the automotive sector and explore opportunities to monetize its technology stack through licensing and a SaaS model.
3. Strategic partnerships and increased market penetration in automotive finance and data services: Vroom aims to grow UACC and CarStory by actively seeking new partnerships and enhancing their market share within their specialized niches of automotive lending and data analytics. This strategy focuses on expanding their reach and impact within the broader automotive ecosystem.
4. Operational excellence and improved profitability within UACC and CarStory: While not a direct revenue driver, continuous improvement in the operational efficiency and profitability of UACC and CarStory will indirectly fuel revenue growth. This includes efforts to achieve better loan portfolio performance and reduce operating costs, which can free up capital for reinvestment and enable more competitive offerings, ultimately supporting revenue expansion.

Share Repurchases

No information available for share repurchases made or authorized by Vroom over the last 3-5 years.

Share Issuance

• Vroom completed its Initial Public Offering (IPO) in June 2020, issuing 21,250,000 shares at $22.00 per share and raising $467.5 million.
• In September 2020, Vroom conducted a secondary public offering (SPO), raising $588.6 million by issuing 10,800,000 shares at $54.50 per share.
• As part of its prepackaged Chapter 11 case, Vroom emerged on January 14, 2025, after an automatic 1-for-5 common stock conversion, issuing approximately 5,163,109 new shares of common stock and 364,516 warrants to purchase new common stock at an exercise price of $60.95 per share.

Inbound Investments

No information available for large inbound investments made in the company by third-parties, outside of the share issuances detailed above.

Outbound Investments

• In January 2021, Vroom acquired the CarStory business, which specializes in AI-powered analytics and digital services for automotive retail.
• Vroom completed the acquisition of United Auto Credit Corporation (UACC), an automotive finance company, for a cash purchase price of $300 million in February 2022, accelerating its strategy to develop a captive financing arm.

Capital Expenditures

• Vroom's expansion of logistics operations and reconditioning facilities required additional capital expenditures and operating expenses.
• The company has incurred and continues to incur capital and operating expenses to comply with various laws and regulations.
• Following the discontinuance of its e-commerce operations and the winding down of its used vehicle dealership business, Vroom's capital expenditures are expected to be significantly reduced and focused on supporting its remaining businesses, UACC and CarStory.