Benzinga | Sep 28, 2021 08:32AM EDT

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.