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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Revenue $ 131,297 $ 235,602 $ 297,112 $ 505,722
Cost applicable to revenue        
Cost applicable to revenue 97,108 188,198 219,081 420,552
Gross profit 34,189 47,404 78,031 85,170
Depreciation and amortization 3,400 4,956 7,982 10,417
Selling, general, and administrative expenses 35,826 52,010 74,455 100,896
Impairment charges 7,676 0 10,576 0
Loss from operations (12,713) (9,562) (14,982) (26,143)
Other income (expense):        
Floor plan interest expense (3,269) (5,708) (7,859) (13,384)
Other interest expense (7,398) (5,837) (13,567) (10,360)
Change in fair value of warrant liabilities 407 (337) 4,689 (337)
(Loss) gain on sale of businesses, property and equipment (1,952) 1,044 (2,411) 1,044
Total other expense, net (12,212) (10,838) (19,148) (23,037)
Loss before income taxes (24,925) (20,400) (34,130) (49,180)
Income tax benefit (expense) 336 (23,821) 8 (17,021)
Net loss (24,589) (44,221) (34,122) (66,201)
Dividends on Series A convertible preferred stock 0 (2,031) 0 (4,015)
Net loss and comprehensive loss attributable to common stock and participating securities $ (24,589) $ (46,252) $ (34,122) $ (70,216)
Loss per share        
Basic (in dollars per share) [1] $ (6.67) $ (96.53) $ (9.27) $ (146.57)
Diluted (in dollars per share) [1] $ (6.67) $ (96.53) $ (9.27) $ (146.57)
Weighted average shares used for EPS calculations        
Basic (in shares) [1] 3,684,277 479,163 3,680,539 479,060
Diluted (in shares) [1] 3,684,277 479,163 3,680,539 479,060
New vehicle retail        
Revenue        
Revenue $ 77,463 $ 143,333 $ 174,982 $ 296,024
Cost applicable to revenue        
Cost applicable to revenue 68,960 130,138 155,632 277,193
Pre-owned vehicle retail        
Revenue        
Revenue 29,461 57,254 70,134 136,282
Cost applicable to revenue        
Cost applicable to revenue 23,482 46,354 55,476 116,087
Vehicle wholesale        
Revenue        
Revenue 870 3,268 2,926 9,517
Cost applicable to revenue        
Cost applicable to revenue 913 3,597 3,033 12,057
Consignment vehicle        
Revenue        
Revenue 2,078 562 3,567 644
Finance and insurance        
Revenue        
Revenue 10,575 16,041 22,077 34,370
Cost applicable to revenue        
Cost applicable to revenue 344 644 778 1,337
Service, body and parts and other        
Revenue        
Revenue 10,850 15,144 23,426 28,885
Cost applicable to revenue        
Cost applicable to revenue 4,917 7,150 10,615 13,437
LIFO        
Cost applicable to revenue        
Cost applicable to revenue $ (1,508) $ 315 $ (6,453) $ 441
[1]
(1) Amounts have been adjusted to reflect the reverse stock split effective on July 11, 2025. Refer to Note 2 - Basis of Presentation and Critical Accounting Policies for further information.