$49 per month*
Subscribe to Pro or Enterprise plans to unlock this feature.
Become a smarter investor today.
This statistic highlights Vroom’s Revenue Breakdown Worldwide, split across Retail vehicle, Wholesale vehicle, Product and Others, reported on a quarterly basis from 2019 onwards.
Vroom Inc’s total revenue increased from $323 million in Q3 2020 to $896.75 million in Q3 2021, which was a good increase of around 177.63% on a year-on-year basis. On a quarterly basis, it witnessed an increment of 17.7%, as compare to $761.89 million in Q2 2021.
The retail vehicle segment contributed highest revenue of 82.04% of the total revenue that is $735.71 million in Q3 2021. The wholesale vehicle segment contributed served as the second highest segment of revenue equal to 14.64% that was $131.30 million. The third segment is product that served 2.95% of the total revenue equal to $26.54 million. Lastly other segments contributed just 0.35% of revenue, equal to $3.19 million.
Vroom Inc’s revenue is further bifurcated into different segments as follows :
|Revenue breakdown||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All figures in millions, except percentages)
The ecommerce platform and Texas Direct Auto (TDA) are used to sell retail vehicles. When automobiles are delivered to consumers or picked up at their TDA retail site, revenue from vehicle sales is realised, including any delivery charges. Their retail revenue stream is primarily influenced by the number of units sold and the average selling price per unit.
The revenue from retail vehicles has increased significantly from $249.51 million in Q3 2020 to $735.71 million in Q3 2021, indicating a growth of around 194.8% yearly. On a quarterly basis, the revenue witnessed a rise of 21%, as compared to $608.11 million in Q2 2021. The retail vehicle segment contributed the highest revenue, accounting for 82.04% of the total revenue, that is $735.71 million in Q3 2021.
Revenue from vehicles sold through the wholesale channels come from customers who trade-in their vehicles while making a purchase from Vroom, consumers who sell their vehicles to them in direct-buy transactions, and liquidation of vehicles that were previously advertised for retail sale. The key drivers of wholesale revenue are the number of wholesale automobiles sold and the ASP per unit. The mix of vehicles we acquire, as well as overall supply and demand factors in the wholesale market, influence the ASP per unit.
The revenue from this segment increased from $63.97 million in Q3 2020 to $131.30 million in Q3 2021, which was a good increase of around 67% yearly. On a quarterly basis, the revenue witnessed a rise of 2.5%, as compared to $128.1 million in Q2 2021. The wholesale vehicle segment was the second highest contributor of revenue, accounting for 14.64% of the total revenue, amounting to $131.30 million.
The company makes money by charging fees for the sale of value-added items to their clients in conjunction with car sales, such as costs for third-party financing and fees for other value-added products like vehicle service contracts, GAP protection, and tyre and wheel coverage. They receive revenue for these items as a result of agreements with the third parties who sell and administer them. Their gross profit on product revenue is the same as their revenue.
The revenue from this segment increased from $9.19 million in Q3 2020 to $26.54 million in Q3 2021, which was an increase of 180% yearly. on a quarterly basis, the revenue grew by 19%, as compared to $22.3 million in Q2 2021. The product segment accounts for 2.95% of the total revenue, amounting to $26.54 million in Q3 2021.
The revenue from this segment increased from $0.31 million in Q3 2020 to $3.19 million in Q3 2021, which was an increase of 929% yearly. On a quarterly basis, it witnessed a slight decline of 5%, as compared to $3.36 million in Q2 2021. This segment accounts for 0.35% of the total revenue, amounting to $3.19 million in Q2 2021.
Vroom Inc., established in New York, is an e-commerce startup acting as an automobile retailer. It provides the customers a platform to purchase, sell and finance cars online. It is not a peer-to-peer marketplace, rather it is an e-commerce business that handles the entire transaction with no haggling price. Vroom deals in only reconditioned cars, the company automates the restoration process with unique RFID tracking and priority software. It works with about a dozen banks for financing and delivering cars to its customers all over the country. It provides a 7 day money back guarantee and a 90 day bumper-to-bumper warranty on all purchases. The company’s stock goes by the ticker VRM and is traded on the NASDAQ.
Did you like Vroom’s Revenue Breakdown Worldwide statistic?
Access more such KPI data points and segment financials on thousands of US stocks, with Business Quant.
You can get started here.
Always know what you’ll pay. No hidden costs or surprises.
* Billed annually, local taxes extra.
* Local taxes extra.