Vroom announced financial results for the second quarter ended June 30 showing $63.4 million cash and cash equivalents.

The financials also showed $34.0 million of liquidity available to UACC under the warehouse credit facilities. The second quarter also showed $(19.1) million net loss from continuing operations and $(7.5) million Adjusted EBITDA.

“Overall, I am pleased with our second quarter 2024 results,” said Tom Shortt, chief executive officer. “We grew origination volume and our serviced loan portfolio year over year, while continuing to focus on portfolio performance. We currently expect originations since early 2023 to perform at pre-pandemic levels and are beginning to see positive impacts of our prior decision to tighten credit, resulting in improvements in credit losses compared to the prior quarter. We are focused on improving processes and technology, digitization and automation, and reducing costs across the business.”