Following the release of its quarterly results, the leading end-to-end ecommerce platform for buying and selling used cars, Shift Technologies, Inc. (Nasdaq: SFT) is up 14.71% in pre-market trading.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
Technology-driven, hassle-free customer experiences have been the cornerstone of Shift’s success. In addition to making car purchase and ownership simple, Shift’s mission is to make buying or selling a used car enjoyable, fair, and accessible to everyone. Shift provides a total car ownership experience with comprehensive, digital services including:
The 2021 Backdoor Crypto Portfolio (free)
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
Sponsored
- Selecting the right vehicle
- Getting the car test drive before purchasing it
- With financing and vehicle protection products seamlessly integrated into the purchase transaction.
- A digital trade-in/sale transaction that is efficient, and
- An integrated approach to delivering high-value services during vehicle ownership.
Financial Highlights:
Shift today reported fourth quarter and annual financial results for the period ended December 31, 2020.
- For the fourth quarter, total revenue grew 168% year-over-year, reaching a record $73.4 million against $27.35 million in the fourth quarter of 2019.
- Total units sold during Q4 were 4,666, up 147% from 1,890 sold in Q4 2019.
- For the fourth quarter, net loss was -$4.5 million as compared to a year-ago quarterly net loss of -$20.5 million.
- Net loss per share was -$0.07 against net loss of -$6.51 in the corresponding quarter of 2019.
- Total revenue for full year 2020 grew 18% to $195.7 million from $166.23 million in prior year.
- In 2020, total units sold were 13,135, up 18% from 11,091 units sold in 2019.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
- Net loss was -$59.1 million as compared to a net loss of -$80.5 million posted by the company in 2019.
- Net loss per share for full year 2020 was -$3.12 whereas in the 2019, it was a net loss of -$25.30 per share.