Cazoo Clocks 521% Revenue Growth In 1H, Retail Revenue Up 464%

European online car retailer Cazoo Group Ltd (NYSE:CZOO) reported first-half FY21 revenue growth of 521% year-on-year to £248 million. Retail revenue rose 464% Y/Y to £208 million.
Drivers: Cazoo sold 16,557 retail vehicles, up 412% Y/Y, and 3,897 wholesale vehicles, up 358% Y/Y.
Cazoo reported a Retail GPU of £315, up £670 Y/Y.
Cazoo reported a positive gross margin of 5% and an adjusted EBITDA margin of (28)%.
Cazoo held £60 million in cash and equivalents and used £55 million in operating cash flow.
Price Action: CZOO shares traded higher by 0.79% at $8.92 in premarket on the last check Tuesday.

Benzinga