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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue        
Revenue $ 308,380 $ 373,552 $ 604,036 $ 749,713
Cost applicable to revenues        
Cost applicable to revenues 240,657 274,935 472,422 552,279
Gross profit 67,723 98,617 131,614 197,434
Depreciation and amortization 4,459 4,052 8,862 8,136
Selling, general, and administrative expenses 50,480 61,605 104,012 117,709
Income from operations 12,784 32,960 18,740 71,589
Other income (expense)        
Floor plan interest expense (5,835) (1,466) (11,366) (2,442)
Other interest expense (2,083) (1,919) (3,783) (3,855)
Change in fair value of warrant liabilities 0 9,652 856 11,192
Total other (expense) income, net (7,918) 6,267 (14,293) 4,895
Income before income tax expense 4,866 39,227 4,447 76,484
Income tax expense (1,306) (7,383) (1,163) (16,356)
Net income 3,560 31,844 3,284 60,128
Dividends on Series A convertible preferred stock (1,196) (1,197) (2,380) (2,381)
Net income and comprehensive income attributable to common stock and participating securities 2,364 30,647 904 57,747
Net earnings allocated to common stock and participating securities 2,364 30,647 904 57,747
Net income and comprehensive income attributable to common stock and participating securities $ 2,364 $ 30,647 $ 904 $ 57,747
EPS:        
Basic (in dollars per share) $ 0.12 $ 1.76 $ 0.05 $ 3.14
Diluted (in dollars per share) $ 0.12 $ 0.81 $ 0 $ 1.98
Weighted average shares outstanding:        
Basic (in shares) 14,181,659 11,394,761 13,066,607 12,336,431
Diluted (in shares) 14,292,064 12,871,296 13,188,135 13,914,982
New vehicle retail        
Revenue        
Revenue $ 182,752 $ 219,186 $ 359,499 $ 436,622
Cost applicable to revenues        
Cost applicable to revenues 158,144 175,109 311,475 347,714
Pre-owned vehicle retail        
Revenue        
Revenue 90,991 112,430 175,766 228,930
Cost applicable to revenues        
Cost applicable to revenues 72,425 83,627 139,953 171,910
Vehicle wholesale        
Revenue        
Revenue 1,716 5,704 3,424 12,228
Cost applicable to revenues        
Cost applicable to revenues 1,685 5,834 3,406 12,413
Finance and insurance        
Revenue        
Revenue 17,742 21,382 34,623 43,017
Cost applicable to revenues        
Cost applicable to revenues 810 843 1,503 1,540
Service, body and parts and other        
Revenue        
Revenue 15,179 14,850 30,724 28,916
Cost applicable to revenues        
Cost applicable to revenues 7,517 7,656 14,698 14,376
LIFO        
Cost applicable to revenues        
Cost applicable to revenues $ 76 $ 1,866 $ 1,387 $ 4,326