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published in Blogs
Apr 10, 2022
Cazoo (CZOO, $3.20) registered +227% growth in revenue

Cazoo (CZOO, $3.20) registered +227% growth in revenue

Cazoo Group reported its fourth-quarter FY21 results, that revealed revenue growth of 227% on a year-over-year basis. Revenue came in at  £245 million. Retail revenue climbed +128% Y/Y to £157 million.

The number of retail vehicles sold by the European online car retailer was up  61.1% year-over-year to 8,714, and wholesale vehicles was up 505.5% year-over-year to 7,611.

Cazoo's gross margin widened by +170 bps to 0.7%.

CFO Stephen Morana said, "We remain laser focused on continuing our path to profitability and while our UK Retail GPU will be sequentially lower in Q1 2022, we expect to see material improvements through the year, up significantly in Q2 2022 and approaching £900 for FY22."

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