Carlotz Inc (LOTZ)

[georgie18]

LOTZ...$4.30...in the P/M...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
“We are very pleased with our second quarter results, having met our unit guidance and significantly outperforming our GPU guidance,” said Michael Bor, Co-Founder and CEO of CarLotz. “Despite a dynamic operating environment, the quarter was highlighted by record Gross Profit and four new hub openings, in addition to the announcement of the opening of six additional hubs. I am extremely proud of the hard work and commitment demonstrated by the entire team over the last six months since we became a public company, including doubling our number of hub locations, hiring experienced talent across the company, and executing on significant technology and marketing initiatives to provide a structure to support significant growth.”