Second, our tech and op teams continue to work together to build and optimize our dealer marketplace platform, which we expect to relaunch in Q3 of this year. With these changes behind us, we believe we are positioned to expand GPU, especially F&I and leverage SG&A going forward, which should translate into lower cash usage in future quarters.
We continue to refine the model, and as operations have begun to normalize, we are encouraged by the sequential improvement in our GPU in Q1 and second quarter to date. We have made changes to our sales organization as well as optimized our marketing strategy and reconditioning processes to improve performance and increase efficiency. The first quarter was still a transition period as we integrated the CarLotz transaction, executed strategic decisions regarding our footprint and evolved to our technology-forward omnichannel sales model, which allows our customers to choose how and when they want to shop. First, our quarterly results came in near the top end of the guidance ranges we provided.
Today, we have a few key updates to provide.
#Shift technologies earnings call update
During our fourth quarter call just 6 weeks ago, we gave a comprehensive update on our strategy and operations. Thank you for joining us in our first quarter 2023 earnings call. Thank you, Susan, and good afternoon, everyone. With that said, I will now turn the call over to Jeff. During the course of the call, we will be referring to non-GAAP measures as defined and reconciled in our earnings materials. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise after this conference call.
#Shift technologies earnings call full
Please refer to our filings with the SEC for a full discussion of the factors that may affect any forward-looking statement. Actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statement.
And while we believe these judgments are reasonable, these forward-looking statements are not guarantees of future performance and involve certain assumptions, risks and uncertainties. Joining me on the call today is CEO, Jeff Clementz and CFO, Oded Shein.ĭuring our remarks, we will make some forward-looking statements, which represent our current judgment on what the future may hold. Good afternoon, and welcome to the Shift Technologies First Quarter 2023 Earnings Call. (Operator Instructions) I'd now like to turn the conference call over to Susan Lewis, Vice President of Investor Relations. Good afternoon, and welcome to the Shift First Quarter of 2023 Earnings Conference Call. Jeffrey Clementz CEO & Director Shift Technologies, Inc.
0 kommentar(er)
