Vroom’s Revenue Breakdown by Segment (2019-2022)

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This statistic highlights Vroom’s Revenue by Segment, split across Ecommerce, TDA, Wholesale and Others, reported on a quarterly basis from 2019 onwards.
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This statistic highlights Vroom’s Revenue by Segment, split across Ecommerce, TDA, Wholesale and Others, reported on a quarterly basis from 2019 onwards.

Vroom’s Revenue by Segment

Vroom Inc’s total revenue increased from $323 million in Q3 2020 to $896.8 million in Q3 2021, which was a high growth of around 177.64% on a year-on-year basis. The revenue also increased by 17.7% on a quarterly basis, as compared to $761.9 million in Q2 2021.

Vroom Inc’s revenue is further bifurcated into different segments as follows :

Segment Q3 2020 Q2 2021 Q3 2021 Contribution in Q3 2021
Ecommerce $221.76 $579.7 $701.7 78.24%
TDA $63.97 $50.8 $60.6 6.75%
Wholesale $37.27 $128.1 $131.3 14.64%
Other Nil $3.4 $3.2 0.35%
Total $323 $761.9 $896.8 100%

(All figures in millions, except percentages)

Ecommerce 

For their customers, Vroom Inc provide an amazing ecommerce experience. They give consumers a personalised and straightforward ecommerce interface to research and select from thousands of fully reconditioned vehicles, in contrast to legacy dealerships and the peer-to-peer market. Their platform is available 24 hours a day, 7 days a week, on any device, and offers clear pricing, real-time financing, and nationwide contact-free delivery to a buyer’s driveway. They offer attractive market-based pricing, real-time price quotes, and quick, at-home car pick-up for consumers wishing to sell or trade in their vehicles.

The revenue generated by this segment increased from $221.76 million in Q3 2020 to $701.7 million in Q3 2021, which was a total increase of around 216.42% on a yearly basis. On a quarterly basis, it increased by 21%, as compared to $579.7 million in Q2 2021. It accounts for the maximum contribution, of around 78.24%, which equals to $701.7 million in Q3 2021.

Texas Direct Auto (TDA) 

The TDA segment of the company represents the retail sale of used vehicles from TDA. It also includes the fees earned on sale of value-added products associated with those vehicle sales. Through its internet portal and TDA retail presence, the company offers used vehicles to its retail clients. Non-cash consideration is represented by trade-in automobiles, which the Company values at fair market value based on external and internal market data for each vehicle. For used car sales, the Company fulfils its performance requirement and recognises revenue when the vehicles are delivered to the customer for ecommerce sales or picked up by the customer for TDA sales.

The revenue generated by this segment decreased from $63.97 million in Q3 2020 to $60.6 million in Q3 2021, making a decrease of 5.2% on a yearly basis. However, it increased by 19.3% on a quarterly basis, as compared to $50.8 million in Q2 2021. The TDA segment accounts for 6.75% of the total revenue, amounting to $60.6 million.

Wholesale 

The sale of used vehicles through the wholesale channel is recognised in the Wholesale segment. Vehicles that do not match the Company’s retail sales criteria are sold through wholesale channels. The wholesale automobile transaction price is a set amount. When a car is sold, the Company fulfils its performance obligation and earns income for wholesale vehicle sales. Following the sale of a vehicle, the transaction amount is usually payable and collected within a short period of time.

The revenue generated by this segment increased from $37.27 million in Q3 2020 to $131.3 million in Q3 2021, which was a total increase of around 5.2% yearly. It increased by 2.5% quarterly, as compared to $128.1 million in Q2 2021. The wholesale segment contributed around 14.64% of the total revenue, amounting to $131.3 million.

Other

This segment generated no revenue in Q3 2020. It witnessed a decline of % on a quarterly basis, from $3.4 million in Q2 2021 to $3.4 million in Q3 2021. The other segment contributed a mere 0.35% to the company’s total revenue in Q3 2021, amounting to $3.2 million.

About Vroom Inc 

Vroom is an automobile retailer and e-commerce startup established in New York City that allows customers to purchase, sell, and finance cars online. Vroom is an e-commerce business that handles the complete transaction with no haggling pricing, rather than acting as a peer-to-peer marketplace. The company works with more than a dozen banks to provide financing and delivers cars to customers all throughout the country. Vroom sells only reconditioned cars, and the company automates the restoration process with unique RFID tracking and priority software. Vroom offers a seven-day money-back guarantee and a 90-day bumper-to-bumper warranty on all purchases. Vroom also buys automobiles from customers who submit images and information about the vehicle online in exchange for a cash voucher. The common stock of the company is listed on the NASDAQ under the ticker VRM.

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