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carlotz CarLotz Announces Record Revenue and Retail Unit Sales in First Quarter 2021 May 10 , 2021 First Quarter Revenue Growth of 123 % to $ 56.6 million , Ahead of Expectations First Quarter Unit Sales Grew 76 % to 2,554 , Ahead of Expectations RICHMOND , Va . , May 10 , 2021 ( GLOBE NEWSWIRE ) -- CarLotz , Inc. ( " CarLotz " or the " Company " ) , a leading consignment - to - retail used vehicle marketplace , today announced financial results for the first quarter ended March 31 , 2021 . Highlights of First Quarter 2021 Financial Results • Net revenues increased 123 % to $ 56.6 million from $ 25.4 million in the same period in 2020 • Retail unit sales were 2,554 compared to 1,453 in the prior year period , an increase of 76 % • Net Loss attributable to common shareholders was $ ( 15.0 ) million , or $ ( 0.15 ) per diluted share , for the first quarter 2021 versus $ ( 1.5 ) million , or $ ( 0.03 ) per diluted share in the prior year period • Adjusted EBITDA was $ ( 16.9 ) million compared to $ ( 1.4 ) million in the first quarter of 2020 Michael Bor , Chief Executive Officer and co - founder of CarLotz commented : " We are excited to announce that , in advance of much of the growth we are driving this year through new hub development and nationwide expansion , we already are posting a 123 % growth in revenue . We sold a record 2,554 retail units during the first quarter , opened three new hubs in Seattle , WA , Merritt Island , FL and Nashville , TN . And , we have announced planned new hub openings in Charlottesville , VA , Bakersfield , CA , Highland Park , IL , and Clearwater , FL in the coming months . We have been very pleased with our new hub performance to date and have signed close to a dozen leases and have several more leases under negotiation for 2021 and 2022 sites . " The following compares our first quarter results to our previously provided first quarter guidance : Guidance Three 1,900 to 2,100 $ 42 to $ 46 million $ 1.6 to $ 2.0 million $ 1,300 to $ 1,500 New Hub Openings Retail Units Sold Net Revenue Gross Profit Retail Gross Profit per Unit ( " Retail GPU " ) SG & A Expenses Net Loss New Hub Openings Retail Units Sold Net Revenue Gross Profit Retail GPU SG & A Expenses Adjusted EBITDA * $ 17 to $ 19 million $ ( 16 ) to $ ( 15 ) million For 2021 , the Company confirms its previous guidance , with certain changes noted below , and expects the following : Weighted Average Common Stock Shares Outstanding Results Three 2,554 $ 56.6 million $ 2.0 million $ 1,182 $ 30 to $ 37 million $ 1,800 to $ 2,000 $ 18.9 million , excluding non - cash stock compensation expense of $ 42 million $ ( 15 ) million 2021 Guidance 14 to 16 hub openings , most of which are expected to open in the back half of the year 18,000 to 20,000 with 13,000 to 15,000 in the second half of year $ 335 to $ 375 million 111 million $ 103 to $ 108 million , excluding non - cash stock compensation expense expected to be approximately $ 52 million $ ( 79 ) to $ ( 67 ) million Met Expectations Exceeded Expectations Exceeded Expectations Met Expectations Below Expectations Met Expectations Met Expectations No change No change No change No change No change Providing separate guidance for SG & A and non - cash stock compensation expense Providing Adjusted EBITDA guidance instead of Net Loss guidance as a result of the change in the accounting treatment of the Company's warrants Updated from 113.6 million to 111 million