Vroom, Inc. (NASDAQ: VRM)

Vroom, Inc. is a holding company that conducts its operations through subsidiaries focused on automotive finance and data analytics. After winding down its used vehicle ecommerce business the company concentrates on two core businesses United Auto Credit Corporation which provides indirect auto lending and CarStory which offers AI powered analytics and digital services to automotive dealers and financial institutions.

UACC generates revenue primarily from interest and fees on the automobile loans it purchases from dealers from servicing those loans and from selling ancillary products such as vehicle service contracts and GAP insurance. CarStory generates revenue by selling data analytics valuation tools and digital services to dealers lenders and other automotive industry participants.

The company operates through the following segments: UACC and CarStory.

• UACC is an indirect lender that offers vehicle financing under the UACC brand to consumers through a network of motor vehicle dealers focusing primarily on the non prime market. As of December 31 2025 UACC serviced approximately 76,000 retail installment sales contracts with an aggregate principal outstanding of about 950 million dollars. It offers four main programs Preferred Bankruptcy Commercial and Near Prime each with distinct credit and pricing criteria. UACC uses an automated underwriting decision engine services the loans it originates and participates in private securitization transactions to fund its operations. The company also earns income from ancillary products including vehicle service contracts and guaranteed asset protection products.

• CarStory provides AI powered analytics and digital services to dealers automotive financial services companies and other participants in the automotive industry. It curates a used vehicle information database that includes over 256 million vehicle identification numbers 203 million window stickers 4.2 billion vehicle photos and 411 million sales cycles. CarStory supplies price and price elasticity models and predictive pricing tools that help dealers optimize inventory valuation and marketing decisions. The company also creates digital experiences such as automotive marketplaces vehicle reports and trade in appraisal tools. CarStory’s technology supports UACC by providing data for loan underwriting and by modernizing internal information technology systems.

UACC competes in the auto finance industry with national regional captive finance companies banks credit unions and fintech firms. Its competitive advantage lies in its focus on non prime and near prime consumers its proprietary underwriting models and its extensive dealer network across 49 states. CarStory operates in the highly competitive automotive data and valuation market where it faces larger established players but differentiates itself through its vast VIN database its AI driven pricing algorithms and its ability to deliver actionable insights to dealers and lenders.

UACC serves independent and franchised used vehicle dealers in 49 states which in turn provide financing to consumers with limited or challenged credit histories. CarStory’s customers include automotive dealers lenders and other industry participants seeking data analytics valuation tools and digital solutions to enhance their operations.