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$LOTZ ER Takeaways:
Overview:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Exceeded top line expectations, very pleased with results
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">3 hubs opened in Q1, Seattle + Orlando most successful openings in company history
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Remain on track to open 14-16 new hubs in 2021
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Currently onboarding several new comm relationships
Overview:
Marketing:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">236% inc in leads generated YOY
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Triple digit inc in unique online users YOY
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">New brand campaign being launched in 2H 2021
Tech/People:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">50% team growth in Q1
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Fully redesigned online experience/mobile app in progress: Rollout to begin in June 2021
Tech/People:
Retail GPU:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">1182 in Q1, below expectations
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Due to old inventory carry over issue, which has now been completely cleared out
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">On track for FY Retail GPU estimates: 1800-2000
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Strong Retail GPU growth in Q2
Supply/Demand:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Best environment for inventory is when there is gap between wholesale & retail prices
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">When wholesale prices rise rapidly, gap narrows and creates inventory constraints
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Inventory getting back to desired levels now
Cash:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">$293m in cash/securities
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Net cash will fund growth for foreseeable future
Outlook:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">$335-375m FY21 rev (180% inc YOY)
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">18-20,000 units sold FY21 (180% inc YOY)
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Retail GPU to accelerate in Q3/4
https://abs.twimg.com/emoji/v2/... draggable="false" alt="š" title="Runde ReiĆzwecke" aria-label="Emoji: Runde ReiĆzwecke">Significant investments in people, tech, & marketing
Outlook:
Overall:
Solid quarter even with analyst concerns about Retail GPU. Cause was old inventory carryover, which has been resolved ahead of sched. They are seeing beginning of inc in consumer consignment as brand awareness increases. Potential huge growth driver w/ brand campaign
Solid quarter even with analyst concerns about Retail GPU. Cause was old inventory carryover, which has been resolved ahead of sched. They are seeing beginning of inc in consumer consignment as brand awareness increases. Potential huge growth driver w/ brand campaign
Cont.
Rollout of new tech platform is exciting as well, they want user to be able to do as much or little of transaction online as they want.
Always been impressed with mgmt stance that they will not raise $ unless absolutely have to. Want to be self-funded via growth
Rollout of new tech platform is exciting as well, they want user to be able to do as much or little of transaction online as they want.
Always been impressed with mgmt stance that they will not raise $ unless absolutely have to. Want to be self-funded via growth
