Vroom Announces Third Quarter 2024 Results
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Vroom, Inc. (Nasdaq:VRM) reported its Q3 2024 financial results, highlighting a net loss of $37.7 million and an adjusted EBITDA of $25.5 million. The company has $51.1 million in cash and cash equivalents and $32.9 million in liquidity available to UACC. Vroom also announced a restructuring agreement for $290 million of unsecured convertible notes into equity.
November 12, 2024 | 9:30 pm
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Vroom reported a significant net loss and negative adjusted EBITDA for Q3 2024. The company is restructuring $290 million of convertible notes into equity, which may impact its financial stability and stock price.
The reported net loss and negative adjusted EBITDA indicate financial challenges, which could negatively impact investor sentiment. The restructuring of convertible notes into equity may dilute existing shareholders, further pressuring the stock price.
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