Vroom, which completed the winddown of its ecommerce operations and used-car retail business in the first quarter, detailed the financial results of its Q1 on Friday and provided some color on the state of its remaining United Auto Credit and CarStory business units.

The company reported a $44.7 million net loss from continuing operating in Q1 and a loss of $32.2 million in adjusted EBITDA.

The company had cash and cash equivalents of $91.0 million as of March 31.

“As we previously announced, our ecommerce wind-down was substantially completed during the first quarter of 2024. I am extremely proud of our team’s timely and orderly execution of the wind-down and continued focus on strengthening UACC’s operations,” CEO Tom Shortt said in a news release.

“We have focused on portfolio performance at UACC and currently expect originations since early 2023 to perform at a level that enables UACC to drive toward profitability,” he said. “We continue to take other actions to maximize stakeholder value by seeking to monetize our ecommerce platform and grow and enhance the profitability of UACC and CarStory.”

Vroom chief financial officer Bob Krakowiak added: “We ended the quarter with cash and cash equivalents of approximately $91 million. The cash burn was primarily a result of the ecommerce wind-down, as we paid severance and other personnel-related costs and incurred exit costs associated with early termination or modification of ecommerce contracts and leases. I am pleased with the completion of UACC’s 2024-1 securitization transaction, in which $262.5 million of rated asset-backed securities were sold in April 2024, and $37.5 million of non-investment grade securities initially retained were subsequently sold in early May 2024.”