SPY416.07+3.90 0.95%
DIA341.30+3.18 0.94%
IXIC13,950.22+163.95 1.19%

CarLotz Sees Q1 Sales $42M-$46M, FY21 Sales $335M-$375M

irst Quarter and 2021 Financial Outlook For the first quarter of 2021, the Company expects the following: Three hub openings (Seattle, Orlando and Nashville) Retail Units Sold of 1,900 to

· 03/15/2021 16:08

irst Quarter and 2021 Financial Outlook

For the first quarter of 2021, the Company expects the following:

  • Three hub openings (Seattle, Orlando and Nashville)
  • Retail Units Sold of 1,900 to 2,100
  • Net Revenue of $42 to $46 million
  • Gross Profit of $1.6 to $2.0 million
  • Retail GPU of $1,300 to $1,500
  • SG&A expenses of $17 to $19 million
  • Net Loss of $(16) to $(15) million
     

For 2021, the Company expects the following:

  • 14 to 16 hub openings (includes Seattle, Orlando and Nashville), most of which are expected to open in the back half of the year
  • Retail Units Sold of 18,000 to 20,000 with 13,000 to 15,000 in the second half of year
  • Net Revenue of $335 to $375 million
  • Gross Profit of $30 to $37 million
  • Retail GPU of $1,800 to $2,000
  • SG&A expenses of $107 to $112 million
  • Depreciation expense of $3 to $4 million
  • Interest expense of $400,000 to $500,000
  • Net Loss of $(87) to $(74) million
  • Fully diluted weighted average common shares outstanding of 113.6 million
  • Capital expenditures of $45 to $50 million