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carlotz CarLotz Announces Third Quarter 2021 Financial Results November 8 , 2021 Record Revenue of $ 68.0 million in the Third Quarter , Increasing 128 % versus Last Year Retail Unit Sales Grew 58 % to 2,490 RICHMOND , Va . , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) -- CarLotz , Inc. ( " CarLotz " or the " Company " ) , a leading consignment - to - retail used vehicle marketplace , today announced financial results for the third quarter ended September 30 , 2021 . Third Quarter 2021 Financial Results • Net revenue increased 128 % to $ 68.0 million from $ 29.8 million in the same period in 2020 • Retail unit sales were 2,490 compared to 1,571 in the prior year period , an increase of 58 % • Retail GPU was $ 939 . Adjusted retail GPU , excluding the increase in the inventory reserve , was $ 1,315 . • Net Loss attributable to common shareholders was $ ( 3.5 ) million , or $ ( 0.03 ) per diluted share , versus $ ( 0.5 ) million , or $ ( 0.01 ) per diluted share in the prior year period Adjusted EBITDA was $ ( 22.8 ) million compared to $ ( 0.6 ) million in the third quarter of 2020 ● " We are pleased with our record third quarter revenue of $ 68.0 million , representing growth of 128 % and driven by a 58 % increase in retail unit sales , a 190 % increase in finance and insurance revenue , and more than doubling our hub locations versus last year , " said Michael Bor , Co - Founder and CEO of CarLotz . " I am encouraged by this performance while navigating the impact of the ongoing chip shortage on our core consignment business model . " Mr. Bor continued , " While the chip shortage has caused a disruption to our consignment business model , we are focused on maximizing returns on the significant investments we have made this year , leveraging the assets we already have in place , and offering the best customer experience in the industry , all while building awareness of the CarLotz brand and what consignment means . We firmly believe in our long - term consignment business model and the opportunity to provide value to our corporate sourcing partners and retail buyers and sellers . " Outlook The Company expects sequential quarterly improvement in retail units sold and retail GPU in Q4 . The Company will continue to open new hubs in 2022 , although fewer than in 2021 . As a result of the continued disruption caused by the chip shortage and the corresponding lack of visibility into the wholesale market and commercial vehicle sourcing , the Company is not providing additional financial outlook information for fiscal 2021 at this time . Webcast and Conference Call Information A conference call to discuss the third quarter 2021 financial results is scheduled for today , November 8 , 2021 at 5:00 pm ET . Interested parties may listen to the conference call via telephone by dialing 1-833-962-1461 , or for international callers , 1-929-517-0392 with Conference ID : 1488810. A telephone replay will be available until 11:59 pm ET on November 15 , 2021 and can be accessed by dialing 1-855-859-2056 , or for international callers , 1-404-537-3406 and entering replay Pin number : 1488810 . The conference call webcast will be available at www.investors.carlotz.com . About CarLotz CarLotz is a leading consignment - to - retail used vehicle marketplace that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to easily access the retail sales channel . Our mission is to create the world's greatest vehicle buying and selling experience . We operate a technology - enabled buying , sourcing , and selling model that offers an omni - channel experience and comprehensive selection of vehicles . Our proprietary technology provides our corporate vehicle sourcing partners with real - time performance metrics and data analytics , along with custom business intelligence reporting that enables vehicle triage optimization between the wholesale and retail channels . Forward - Looking Statements This communication contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally , forward - looking statements include statements that are not historical facts , such as statements concerning possible or assumed future actions , business strategies , events or results of operations , including statements regarding Car Lotz ' expectations or predictions of future financial or business performance or conditions . Forward - looking statements may be preceded by , followed by or include the words " believes , " " estimates , " " expects , " " projects , " " forecasts , " " may , " " will , " " should , " " seeks , " " plans , " " scheduled , " " anticipates " or " intends " or similar expressions . Such statements are based on management's current expectations and are not guarantees of future performance . Forward - looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results projected , expressed or implied by these forward - looking statements . Factors that could cause such differences include those disclosed in CarLotz ' filings with the SEC , including those resulting from the impact of the ongoing Covid - 19 pandemic on our business and general business and economic conditions and our ability to successfully execute our geographic expansion plans . Forward - looking statements speak only as of the date they are made , and CarLotz is under no obligation , and expressly disclaims any obligation , to update , alter or otherwise revise any forward - looking statement , whether as a result of new information , future events or otherwise , except as required by law .