- Shift Technologies press release (NASDAQ:SFT): Q4 GAAP EPS of $1.25 beats by $5.79.
- Revenue of $65.6M (-66.6% Y/Y) misses by $7.61M.
- Gross profit per unit was $895; Adjusted gross profit per unit (“Adjusted GPU”) was $1,041.
- Net income was $13.0 million or 20% of revenue, compared to a net loss of $75.8 million or 47% of revenue in the third quarter of 2022.
First Quarter 2023 and Full Year 2023 Outlook
We are providing guidance for the first quarter of fiscal year 2023 as follows:
Revenue in the range of $56 - $58 million vs $115.70M Consensus
Adjusted GPU in the range of $1,600 - $1,800
Adjusted EBITDA loss of $24 - $26 million
Q1'23 ending cash balance of approximately $70.0 million.
Guidance for the 2023 full year is as follows:
- Adjusted SG&A expenses to end the year between $85 - $95 million annualized
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