View Future GrowthThis company is no longer activeThe company may no longer be operating, as it may be out of business. Find out why through their latest events.See Latest EventsShift Technologies 과거 순이익 실적과거 기준 점검 0/6Shift Technologies 의 수입은 연평균 -35.1%의 비율로 감소해 온 반면, Specialty Retail 산업은 연평균 3.5%의 비율로 감소했습니다. 매출은 연평균 50.2%의 비율로 증가해 왔습니다.핵심 정보-35.10%순이익 성장률41.24%주당순이익(EPS) 성장률Specialty Retail 산업 성장률4.13%매출 성장률50.22%자기자본이익률n/a순이익률-32.05%최근 순이익 업데이트31 Mar 2023최근 과거 실적 업데이트공고 • Jul 23Shift Technologies, Inc. to Report Q2, 2023 Results on Aug 10, 2023Shift Technologies, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023Reported Earnings • Nov 11Third quarter 2022 earnings released: US$0.92 loss per share (vs US$0.48 loss in 3Q 2021)Third quarter 2022 results: US$0.92 loss per share (further deteriorated from US$0.48 loss in 3Q 2021). Revenue: US$161.9m (down 10.0% from 3Q 2021). Net loss: US$75.8m (loss widened 103% from 3Q 2021). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany.공고 • Oct 19Shift Technologies, Inc. to Report Q3, 2022 Results on Nov 08, 2022Shift Technologies, Inc. announced that they will report Q3, 2022 results on Nov 08, 2022Reported Earnings • Aug 11Second quarter 2022 earnings released: US$0.65 loss per share (vs US$0.41 loss in 2Q 2021)Second quarter 2022 results: US$0.65 loss per share (down from US$0.41 loss in 2Q 2021). Revenue: US$223.7m (up 45% from 2Q 2021). Net loss: US$52.2m (loss widened 65% from 2Q 2021). Over the next year, revenue is forecast to grow 4.6%, compared to a 11% growth forecast for the industry in Germany.공고 • Jul 20Shift Technologies, Inc. to Report Q2, 2022 Results on Aug 09, 2022Shift Technologies, Inc. announced that they will report Q2, 2022 results on Aug 09, 2022Reported Earnings • May 11First quarter 2022 earnings released: US$0.70 loss per share (vs US$0.55 loss in 1Q 2021)First quarter 2022 results: US$0.70 loss per share (down from US$0.55 loss in 1Q 2021). Revenue: US$219.6m (up 107% from 1Q 2021). Net loss: US$57.0m (loss widened 33% from 1Q 2021). Over the next year, revenue is forecast to grow 54%, compared to a 12% growth forecast for the industry in Germany.모든 업데이트 보기Recent updates공고 • Mar 08Combined Hearing for DS & Plan Rejected for Shift Technologies, Inc.The US Bankruptcy Court gave an order rejecting the combined hearing to consider approval of disclosure statement and plan of Shift Technologies, Inc. on March 7, 2024. The debtor had filed its disclosure statement and plan in the Court on February 20, 2024.공고 • Oct 20Shift Technologies, Inc.(OTCPK:SFTG.Q) dropped from NASDAQ Composite IndexShift Technologies, Inc. has been removed from NASDAQ Composite Index .공고 • Oct 16Maruthi J. D. Venkata Sends Letter to the Board of Shift TechnologiesOn May 26, 2023, Maruthi J. D. Venkata sent a letter to the Board of Directors of Shift Technologies, Inc. In the letter, Maruthi J. D. Venkata expressed his concern over the Company’s operation and financial performance and suggested the Company to (i) immediately restructure its debt, and (2) seek a strategic sale to private equity. Maruthi J. D. Venkata also demanded an observer seat on the Board and any special committee of the Board in charge of the strategic alternatives process.공고 • Oct 13Shift Technologies, Inc.(NasdaqCM:SFT) dropped from S&P TMI IndexShift Technologies, Inc.(NasdaqCM:SFT) dropped from S&P TMI Index공고 • Oct 12Nasdaq Commences Proceedings to Delist the Shift Technologies' Common StockOn October 10, 2023, the Shift Technologies, Inc. was notified by the Listing Qualifications Staff (the ‘Staff’) of the Nasdaq Stock Market LLC (‘Nasdaq’) that it commenced proceedings to delist the common stock of the Company, par value $0.0001 (the ‘Common Stock’) pursuant to Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, and has determined that the Common Stock will be delisted from the Nasdaq due to the Company’s filing of voluntary cases under Chapter 11 of the Bankruptcy Code. The Company does not intend to appeal the determination and, therefore, it is expected that its Common Stock will be delisted, which would not affect any actions it may take in bankruptcy and does not change its reporting requirements under the rules of the Securities and Exchange Commission (the ‘SEC’). Trading of the Common Stock will be suspended by Nasdaq at the opening of business on October 19, 2023.공고 • Oct 11+ 1 more updateMotion for Joint Administration Filed by Shift Technologies, Inc.Shift Technologies, Inc., along with its affiliates, filed a motion for joint administration of their Chapter 11 bankruptcy cases in the US Bankruptcy Court on October 9, 2023. As per the motion, the debtor seeks the joint administration of the cases of its affiliates, CarLotz California, LLC; CarLotz Group, Inc.; CarLotz Logistics, LLC; CarLotz Nevada, LLC; CarLotz, Inc.; Fair Dealer Services, LLC; Orange Grove Fleet Solutions, LLC; Orange Peel, LLC; Shift Finance, LLC; Shift Insurance Services LLC; Shift Marketplace Holdings, LLC; Shift Marketplace, LLC; Shift Operations, LLC; Shift Transportation LLC, with its own case for administrative and procedural purposes. Shift Technologies, Inc. has been proposed as the lead debtor.공고 • Sep 29Shift Technologies, Inc. Announces Board and Committee ChangesShift Technologies, Inc. announced that on September 22, 2023, Luis Ignacio Solorzano Aizpuru, member of the Board of the Company, informed the Company of his decision to resign as a director of the Company, effective September 22, 2023. Mr. Solorzano served as a Class II director, a member of the Audit Committee and member of the Finance Committee of the Board. Mr. Solorzano’s decision to resign from the Board was not the result of any disagreement relating to the Company’s operations, policies or practices. The Company thanks Mr. Solorzano for his commitment and service to the Company. After giving effect to the foregoing director resignation of Mr. Solorzano from the Board, the Board consists of four (4) directors and three (3) vacancies. In connection with Mr. Solorzano’s resignation from the Board, on September 26, 2023, the Board resolved that Adam Nash will serve as a member of the Audit Committee. Pursuant to the Company’s Director Compensation Policy, Mr. Nash will receive an additional cash retainer of $10,000 for his service on the Audit Committee, prorated for service for less than an entire annual period.공고 • Aug 30Shift Technologies, Inc. Announces Resignation of Victoria Mcinnis as Member of the Board of DirectorsOn August 22, 2023, Victoria McInnis, member of the Board of Directors of Shift Technologies, Inc. informed the Company of her decision to resign as a director of the Company, effective August 22, 2023. Ms. McInnis served as a Class I director, a member of the Audit Committee and Chair of the Leadership Development, Compensation and Governance Committee of the Board. Ms. McInnis’ decision to resign from the Board was not the result of any disagreement relating to the Company’s operations, policies or practices. The Company thanks Ms. McInnis for her commitment and service to the Company. After giving effect to the foregoing director resignation of Ms. McInnis from the Board, the Board consists of six (6) directors and one (1) vacancy.공고 • Jul 23Shift Technologies, Inc. to Report Q2, 2023 Results on Aug 10, 2023Shift Technologies, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023공고 • Jul 12Shift Technologies, Inc. Plans to Reduce the WorkforceShift Technologies, Inc. announced a plan to restructure and reduce the company’s workforce to better align people and responsibilities with the company’s omnichannel sales strategy. The restructuring plan is the result of a review by the company’s recently appointed CEO Ayman Moussa as well as evaluations conducted as part of the company’s review of strategic alternatives. The new structure is designed to improve the customer experience, increase efficiencies throughout the sales process, and better leverage its fixed costs. The company has also decided to eliminate investment into the company’s dealer marketplace business in order to focus on core operations. As a result of the restructuring, the company expects to reduce its headcount by approximately 34%. Approximately 60% of the headcount reductions are in operational roles, primarily as a result of eliminating centralized support. The remaining headcount reductions are concentrated among technology roles as a result of eliminating investment into the dealer marketplace, as well as general corporate roles. The company expects the reduction in force to result in annualized SG&A savings of approximately $14 million. The Company expects to incur non-recurring charges of approximately $900,000, consisting primarily of employee severance costs. The strategic alternatives review process established to maximize value for all stakeholders is ongoing.공고 • Jun 29Shift Technologies, Inc. Announces Executive ChangesShift Technologies, Inc. (the “ Company”) is announcing that Sean Foy is no longer the Chief Operating Officer of the Company, effective June 23, 2023 (the “ Effective Date”). The Company presently does not have any plans to fill the position of Chief Operating Officer, and Ayman Moussa, Chief Executive Officer of the Company, assumed oversight of the majority of Mr. Foy’s operational duties as of the Effective Date.공고 • Jun 10+ 1 more updateShift Appoints Ayman Moussa as New CEOShift announced that its Board of Directors has appointed Ayman Moussa as Chief Executive Officer and a member of the Board, effective immediately June 9, 2023.Ayman Moussa is an automotive entrepreneur and CEO with over 20 years of industry experience and leadership. In 2009, he founded Carnamic, a group of new and pre-owned auto dealerships in Northern California. Carnamic has 8 locations and over $200 million in annual revenue. Mr. Moussa succeeds Jeff Clementz, who will remain with the Company as a strategic advisor to Moussa, the Board, and the management team during a transition period. Mr. Clementz will step down from the Board effective immediately.공고 • May 17Shift Technologies, Inc. announced delayed 10-Q filingOn 05/16/2023, Shift Technologies, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.공고 • Feb 13Shift Technologies Receives Written Notice from Nasdaq Regarding Minimum Value of Listed SecuritiesAs previously disclosed, on December 22, 2022, Shift Technologies, Inc. received a written notice (the “ MVLS Notice”) from the Listing Qualifications Department (the “ Staff”) of The Nasdaq Stock Market LLC (“ Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Minimum Value of Listed Securities was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2) (the “ MVLS Requirement”). On February 8, 2023, the Company received a written notice from the Staff notifying the Company that the Staff is withdrawing the MVLS Notice and closing the matter upon determining, after its review of a Change in Shares Outstanding form submitted by the Company, that the Company would have met the MVLS Requirement within the applicable 30-business day period. As previously disclosed, the Company has until April 3, 2023 to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “ Bid Price Requirement”) with respect to the Company’s Class A common stock, par value $0.0001 per share (“ Class A common stock”). The Company intends to monitor the closing bid price of its Class A common stock and may, if appropriate, consider available options to regain compliance with the Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement.공고 • Feb 03A local dealership group has agreed to acquire East Coast Stores of Shift Technologies, Inc. (NasdaqCM:SFT).An unknown local dealership group has agreed to acquire East Coast Stores of Shift Technologies, Inc. (NasdaqCM:SFT) on February 2, 2023. The store leases, inventory, and related assets in Richmond, VA, Charlottesville, VA, and Tampa, FL, will be assumed by a local dealership group. The stores in Midlothian, VA, Charlotte, NC, and Greensboro, NC will be closed, effective today.공고 • Dec 30Shift Technologies Receives Non-Compliance Notice from NasdaqOn December 22, 2022, Shift Technologies, Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Minimum Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2) (the “MVLS Requirement”). The Notice does not impact the listing of the Company’s Class A common stock, par value $0.0001 per share (“Class A common stock”), on The Nasdaq Capital Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the “Compliance Period Rule”), the Company has a period of 180 calendar days from the date of the Notice, or until June 20, 2023 (the “Compliance Date”), to regain compliance with the MVLS Requirement. If at any time before the Compliance Date the Company’s MVLS closes at $35 million or more for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the MVLS Requirement (unless the Staff exercises its discretion to extend this 10 business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H)). If compliance in not achieved by the Compliance Date, the Company expects that Nasdaq would provide written notification to the Company that its securities are subject to delisting. The Company will continue to monitor its MVLS and consider its available options to regain compliance with the MVLS Requirement, which may include applying for an extension of the compliance period or appealing to a Nasdaq Hearings Panel. However, there can be no assurance that the Company will be able to regain compliance with the MVLS Requirement.공고 • Dec 10+ 2 more updatesShift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others.Shift Technologies, Inc. (NasdaqCM:SFT) submitted a non-binding indication of interest to acquire CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others on July 16, 2022. Shift Technologies, Inc. (NasdaqCM:SFT) entered into a definitive agreement to acquire CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others for approximately $120 million on August 9, 2022. Under the terms of the merger agreement, CarLotz shareholders are expected to receive approximately 0.692158 shares of Shift common stock for each share of CarLotz common stock. The actual exchange ratio will be adjusted at the closing based on Shift’s issued and outstanding shares prior to the effective time of the merger, relative to the fully diluted CarLotz shares prior to the effective time of the merger. Based on the expected exchange ratio, upon the closing of the merger Shift’s then-current equity holders will own approximately 52.9% of the combined company, and CarLotz’s then-current equity holders will own approximately 47.1% of the combined company, calculated on a fully diluted basis. The combined company will continue to trade on Nasdaq under the ticker SFT. Shift shall pay a termination fee of $4.25 million to CarLotz while CarLotz shall pay Shift a termination fee of $4.25 million. The transaction is subject to CarLotz’s and Shift’s shareholders' approvals, a registration statement on Form S-4 to be filed in connection with the deal shall be effective, the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the authorization for listing of shares of Shift common stock to be issued in connection with the deal, satisfaction or waiver of certain minimum cash conditions and other customary and regulatory approvals. The transactions have been unanimously approved by each of the board of directors of Shift and the board of directors of CarLotz. The shareholders meeting of Shift and CarLotz, Inc. are both scheduled on December 7, 2022. As of November 8, 2022, the registration statement was declared effective. On December 7, 2022, CarLotz stockholders approved the agreement and plan of merger, The transaction is expected to close in the fourth quarter of 2022. The Merger is expected to close on or about December 9, 2022. Shift is advised by Centerview Partners as financial advisor with a service fee of $3 million, due diligence provider and fairness opinion provider with a service fee of $2 million while Cohen & Company Capital Markets as financial advisor and due diligence provider and Robert J. Rawn and Jeremy A. Casper of Jenner & Block LLP as legal counsel and due diligence provider. CarLotz is advised by William Blair & Company as financial advisor with a service fee of $1.5 million and fairness opinion provider with a service fee of $1 million and Valerie Ford Jacob and Sebastian L. Fain of Freshfields Bruckhaus Deringer LLP as legal counsel and due diligence provider. American Stock Transfer & Trust Company, LLC acted as transfer agent to CarLotz. MacKenzie Partners, Inc. acted as information agent with a service fee of $15,000 to Shift while Morrow & Co., LLC acted as information agent with a service fee of $25,000 to CarLotz. Deloitte Tax LLP and Deloitte & Touche LLP acted as due diligence providers to CarLotz. Shift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others on December 9, 2022. In connection with the closing, Jason Krikorian and Manish Patel resigned from the Shift Board of Directors, and Kimberly H. Sheehy, James E. Skinner, and Luis Ignacio Solorzano joined the Shift Board of Directors.공고 • Dec 06Shift Technologies, Inc. Announces Board ChangesShift Technologies, Inc. on November 30, 2022, the Board of Directors of Shift Technologies, Inc., by unanimous written consent and pursuant to the recommendation of all of the members of the Leadership Development, Compensation and Governance Committee of the Company, elected Jeff Clementz, Chief Executive Officer, to serve as a Class II director of the Company. Mr. Clementz will serve as a director of the Company and will be included as a nominee for election as a director at each applicable annual stockholder meeting during the term of the Clementz Agreement.Board Change • Nov 17High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Kellyn Kenny is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Nov 11Third quarter 2022 earnings released: US$0.92 loss per share (vs US$0.48 loss in 3Q 2021)Third quarter 2022 results: US$0.92 loss per share (further deteriorated from US$0.48 loss in 3Q 2021). Revenue: US$161.9m (down 10.0% from 3Q 2021). Net loss: US$75.8m (loss widened 103% from 3Q 2021). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany.공고 • Nov 09Shift Technologies, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2022Shift Technologies, Inc. provided earnings guidance for the fourth quarter and full year of fiscal 2022. For the quarter, the company expects revenue in the range of $60 million - $70 million.For the year, the company expects revenue in the range of $665 - $675 million.공고 • Oct 19Shift Technologies, Inc. to Report Q3, 2022 Results on Nov 08, 2022Shift Technologies, Inc. announced that they will report Q3, 2022 results on Nov 08, 2022Board Change • Oct 14High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Kellyn Kenny is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공고 • Oct 10Shift Technologies Receives a Written Notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC Regarding Minimum Bid Price RequirementOn October 4, 2022, Shift Technologies, Inc. ("the Company") received a written notice ("the Notice") from the Listing Qualifications Department ("the Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the bid price for the Company's Class A common stock, par value $0.0001 per share ("Class A common stock"), had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) ("the Bid Price Requirement"). The Notice does not impact the listing of Class A common stock on the Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(A) ("the Compliance Period Rule"), the Company has a period of 180 calendar days from the date of the Notice, or until April 3, 2023 ("the Compliance Date"), to regain compliance with the Bid Price Requirement. During this period, Class A common stock will continue to trade on the Nasdaq Global Market. If at any time before the Compliance Date the bid price of Class A common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the Bid Price Requirement (unless the Staff exercises its discretion to extend this 10 business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H)).공고 • Aug 26Shift Technologies, Inc. Announces Board Changes, Effective August 31, 2022Shift Technologies, Inc. announced that Emily Melton, Lead Director who has served on the company’s Board since 2014, will be stepping down from the Board, effective August 31, 2022. Jason Krikorian, company Director since 2018, will succeed Melton as Lead Director.Reported Earnings • Aug 11Second quarter 2022 earnings released: US$0.65 loss per share (vs US$0.41 loss in 2Q 2021)Second quarter 2022 results: US$0.65 loss per share (down from US$0.41 loss in 2Q 2021). Revenue: US$223.7m (up 45% from 2Q 2021). Net loss: US$52.2m (loss widened 65% from 2Q 2021). Over the next year, revenue is forecast to grow 4.6%, compared to a 11% growth forecast for the industry in Germany.공고 • Aug 11Shift Technologies, Inc. (NasdaqCM:SFT) entered into a definitive agreement to acquire CarLotz, Inc. (NasdaqGM:LOTZ) for approximately $120 million.Shift Technologies, Inc. (NasdaqCM:SFT) entered into a definitive agreement to acquire CarLotz, Inc. (NasdaqGM:LOTZ) for approximately $120 million on August 9, 2022. Under the terms of the merger agreement, CarLotz shareholders are expected to receive approximately 0.692158 shares of Shift common stock for each share of CarLotz common stock. The actual exchange ratio will be adjusted at the closing based on Shift’s issued and outstanding shares prior to the effective time of the merger, relative to the fully diluted CarLotz shares prior to the effective time of the merger. Based on the expected exchange ratio, upon the closing of the merger Shift’s then-current equity holders will own approximately 52.9% of the combined company, and CarLotz’s then-current equity holders will own approximately 47.1% of the combined company, calculated on a fully diluted basis. The combined company will continue to trade on Nasdaq under the ticker SFT. The transaction is subject to CarLotz’s and Shift’s shareholders' approvals and other customary and regulatory approvals. The transaction is expected to close in the fourth quarter of 2022. Shift is advised by Centerview Partners and Cohen & Company Capital Markets as financial advisor and Jenner & Block LLP as legal counsel. CarLotz is advised by William Blair & Company as financial advisor and Freshfields Bruckhaus Deringer LLP as legal counsel.공고 • Aug 10+ 1 more updateShift Technologies, Inc. Announces Executive Changes, Effective September 1, 2022Shift Technologies, Inc. and its Board of Directors announced that Co-Founder and CEO George Arison will be stepping down as CEO effective September 1, 2022, and will be succeeded by the President of Shift, Jeff Clementz. Mr. Arison will continue in his role as Chairman of the Board of Directors. Arison started Shift in 2013. Since then, Shift has served over 100,000 customers and generated approximately $2 billion in cumulative revenue. In 2020, Arison became by all accounts the first ever openly gay founder-CEO to take an American company public. Since then, Shift has met or exceeded 27 of the 29 guidance metrics it has provided as a public company.공고 • Jul 20Shift Technologies, Inc. to Report Q2, 2022 Results on Aug 09, 2022Shift Technologies, Inc. announced that they will report Q2, 2022 results on Aug 09, 2022공고 • Jun 26+ 2 more updatesShift Technologies, Inc.(NasdaqCM:SFT) dropped from Russell Microcap Value IndexShift Technologies, Inc.(NasdaqCM:SFT) dropped from Russell Microcap Value Index공고 • May 28Shift Technologies, Inc., Annual General Meeting, Jul 08, 2022Shift Technologies, Inc., Annual General Meeting, Jul 08, 2022, at 14:00 Pacific Standard Time. Agenda: To elect three Class II directors to serve for a term of three years or until their respective successors are duly elected and qualified;to ratify the appointment of Deloitte & Touche LLP as Shift’s independent registered public accounting firm for the fiscal year ending December 31, 2022;and to consider such other business as may properly come before the Annual Meeting and any adjournments or postponements thereof.공고 • May 13Shift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of Certain Automotive Dealer Marketplace Assets of Fair Financial Corp.Shift Technologies, Inc. (NasdaqCM:SFT) agreed to acquire Certain Automotive Dealer Marketplace Assets of Fair Financial Corp. on March 14, 2022. The consideration for the assets will consist of cash in the amount of $15,000,000 and an amount of shares of the company’s Class A common stock equal to 2.5% of the issued and outstanding shares of the company’s Class A common stock as of immediately prior to the closing of the transactions contemplated by the Purchase Agreement. The transaction will be fully funded by a $20 million unsecured debt facility with a 6% coupon from Softbank Group. The Purchase Agreement has been approved by the Boards of Directors of the company and Fair. The acquisition is expected to close during the second quarter of 2022, subject to the satisfaction or waiver of the applicable closing conditions. As of May 10, 2022, the acquisition is expected to close in May. This acquisition will be cash-neutral for Shift. Joseph Barry and Craig D. Grear of Young Conaway Stargatt & Taylor, LLP acted as legal advisor to Fair Financial Corp. Robert Rawn and Jeremy Casper of Jenner & Block LLP acted as legal advisor to Shift Technologies, Inc. Shift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of Certain Automotive Dealer Marketplace Assets of Fair Financial Corp. on May 12, 2022. Concurrently with the closing of the Fair acquisition, Shift also closed the issuance of senior unsecured notes to an affiliate of SoftBank Group Corp. Shift is advised by William Blair & Company as financial advisor. Fair is advised by Cohen & Company Capital Markets, a division of J.V.B. Financial Group, as financial advisor. SoftBank Group is advised by Morrison & Foerster LLP as legal counsel.공고 • May 12Shift Technologies, Inc. Provides Revenue Guidance for the Second Quarter of 2022Shift Technologies, Inc. provided revenue guidance for the second quarter of 2022. The company projects 49% year-over-year second quarter 2022 revenue growth, at the midpoint of management guidance range.Reported Earnings • May 11First quarter 2022 earnings released: US$0.70 loss per share (vs US$0.55 loss in 1Q 2021)First quarter 2022 results: US$0.70 loss per share (down from US$0.55 loss in 1Q 2021). Revenue: US$219.6m (up 107% from 1Q 2021). Net loss: US$57.0m (loss widened 33% from 1Q 2021). Over the next year, revenue is forecast to grow 54%, compared to a 12% growth forecast for the industry in Germany.Board Change • Apr 29High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Director Kellyn Kenny is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공고 • Apr 09Shift Technologies, Inc. to Report Q1, 2022 Results on May 10, 2022Shift Technologies, Inc. announced that they will report Q1, 2022 results on May 10, 2022Reported Earnings • Mar 17Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: US$2.13 loss per share (up from US$3.12 loss in FY 2020). Revenue: US$636.9m (up 225% from FY 2020). Net loss: US$166.3m (loss widened 181% from FY 2020). Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 63%, compared to a 18% growth forecast for the retail industry in Germany.공고 • Mar 04Shift Technologies, Inc. to Report Q4, 2021 Results on Mar 15, 2022Shift Technologies, Inc. announced that they will report Q4, 2021 results on Mar 15, 2022Reported Earnings • Nov 15Third quarter 2021 earnings released: US$0.48 loss per share (vs US$6.96 loss in 3Q 2020)The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: US$179.8m (up 200% from 3Q 2020). Net loss: US$37.4m (loss widened 60% from 3Q 2020).Reported Earnings • Aug 12Second quarter 2021 earnings released: US$0.41 loss per share (vs US$5.79 loss in 2Q 2020)The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: US$154.9m (up 377% from 2Q 2020). Net loss: US$31.7m (loss widened 67% from 2Q 2020).공고 • Jul 23Shift Technology Announces Shift Claims Automation on Salesforce AppExchangeShift Technology announced it has launched Shift Claims Automation on Salesforce AppExchange, empowering insurers and agents with more opportunities to settle straightforward claims without involving claims handlers or loss adjusters. Giving insurance companies' customer service professionals the tools, information, and knowledge to help settle claims more efficiently and accurately is one of the best ways to meet customer experience challenges facing the industry. Shift Claims Automation functions as a virtual claims handler that helps customer service representatives or agents to resolve claims directly, bypassing the traditional claims process. The solution automatically validates all the information required to move a claim forward. An AI decision engine evaluates coverage granted by the policy, liability, validity/appropriateness of documentation, and the potential of the claim being fraudulent or suspicious. Allowing associates to close claims directly with customers can reduce the time required to remit payment, resulting in more satisfying customer experiences. Availability on AppExchange means that the solution will integrate with existing Salesforce deployments.Recent Insider Transactions • Jun 02Chief Financial Officer recently bought €57k worth of stockOn the 27th of May, Oded Shein bought around 10k shares on-market at roughly €5.74 per share. This was the largest purchase by an insider in the last 3 months. This was Oded's only on-market trade for the last 12 months.Reported Earnings • May 13First quarter 2021 earnings released: US$0.55 loss per share (vs US$0.35 loss in 1Q 2020)The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: US$106.0m (up 254% from 1Q 2020). Net loss: US$42.8m (loss widened 247% from 1Q 2020).공고 • May 13+ 1 more updateShift Technologies, Inc. Raising Guidance for the Year Ending December 31, 2021Shift Technologies, Inc. raising guidance for the year ending December 31, 2021. For the year, the company expects revenue in the range of $480 million - $520 million, an increase of 145% - 166% year-over-year.공고 • May 11Shift Begins Selling Cars to Customers in Austin-San Antonio AreaShift has launched a new market for consumers to buy its cars in Texas. With this launch, consumers in the Austin-San Antonio region can now buy and sell vehicles directly with Shift, using the company's unique direct-to-consumer, at-home service. Austin-San Antonio is the first full-service market in Texas where consumers can purchase cars from Shift; this adds to the four markets in the state where they can sell their vehicles directly to the company as well. Car shoppers across the state can access Shift's online purchase process, and those in the greater Austin-San Antonio area can take advantage of its unique at-home test drive service as well. Through the shift.com website, customers can shop cars in the local area, and schedule a test drive. A Shift concierge will then drive the car to the customer's location and allow the customer to test drive it in a socially distanced way. To purchase they'll complete the transaction on the spot through an iPad, including optional financing and vehicle protection plans. The test drive-purchase process is approximately one hour start to finish. With this newest addition, Shift now provides its in-person buyer experience in seven markets across the western states of California, Texas, Washington, and Oregon.공고 • May 05Shift Begins Buying Cars from Consumers in Las VegasShift announced the launch of its service to purchase cars from consumers in the Las Vegas region. With the addition of this new market, the company's first in the state of Nevada, consumers are now eligible to sell their cars directly to Shift in 11 geographies across the United States. With Shift's car-buying service, which is now available to consumers within the greater Las Vegas region, consumers have an easy, fast, and transparent alternative to the traditional methods of selling their cars. They can begin by getting an instant, no-obligation online quote on Shift.com. If they wish to move forward, they can then book an evaluation appointment where a Shift Concierge will come to their location, evaluate the car and make a final offer. If they accept, the customer will complete the transaction digitally, including electronic payment initiation and DMV paperwork, right then and there using Shift's unique iPad app. Start to finish, evaluation appointments take approximately one hour.Executive Departure • May 05Senior VP of Accounting & Controller has left the companyOn the 3rd of May, Blima Tuller's tenure as Senior VP of Accounting & Controller ended after less than a year in the role. We don't have any record of a personal shareholding under Blima's name. Blima is the only executive to leave the company over the last 12 months.공고 • Mar 16Shift Technologies, Inc. Announces Executive ChangesOn March 9, 2021, the Leadership Development, Compensation and Governance Committee of the Board of Directors of Shift Technologies, Inc. approved the appointment of Oded Shein, age 59, as the Company’s Chief Financial Officer, replacing Cindy Hanford, who had been serving as Chief Financial Officer since the Company’s merger with Insurance Acquisition Corp. Mr. Shein will join the Company on March 15, 2021. It is anticipated that Ms. Hanford will remain as the Chief Financial Officer of the Company through the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and then will remain with the Company in a consulting capacity through April 21, 2021 to effect an orderly transition. Mr. Shein previously served as Chief Financial Officer of The Fresh Market, Inc. since August 2018.Analyst Estimate Surprise Post Earnings • Mar 10Revenue beats expectationsRevenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 127%, compared to a 7.4% growth forecast for the Specialty Retail industry in Germany.Reported Earnings • Mar 10Full year 2020 earnings released: US$3.12 loss per share (vs US$2.33 loss in FY 2019)The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$195.7m (up 18% from FY 2019). Net loss: US$59.1m (loss narrowed 27% from FY 2019).공고 • Feb 18Shift Technologies, Inc. to Report Q4, 2020 Results on Mar 08, 2021Shift Technologies, Inc. announced that they will report Q4, 2020 results After-Market on Mar 08, 2021매출 및 비용 세부 내역Shift Technologies가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이DB:4GI0 매출, 비용 및 순이익 (USD Millions)날짜매출순이익일반관리비연구개발비31 Mar 23509-163160031 Dec 22671-172192030 Sep 22801-240234030 Jun 22819-201242031 Mar 22750-181232031 Dec 21637-166220030 Sep 21514-116188030 Jun 21394-102154031 Mar 21272-90121031 Dec 20196-5984030 Sep 20150-7570030 Jun 20136-7162031 Mar 20146-6963031 Dec 19166-8072031 Dec 18132-4545031 Dec 1795-26290양질의 수익: 4GI0 은(는) 현재 수익성이 없습니다.이익 마진 증가: 4GI0는 현재 수익성이 없습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: 4GI0은 수익성이 없으며 지난 5년 동안 손실이 연평균 35.1% 증가했습니다.성장 가속화: 현재 수익성이 없어 지난 1년간 4GI0의 수익 성장률을 5년 평균과 비교할 수 없습니다.수익 대 산업: 4GI0은 수익성이 없어 지난 해 수익 성장률을 Specialty Retail 업계(-2.3%)와 비교하기 어렵습니다.자기자본이익률높은 ROE: 4GI0의 부채가 자산을 초과하여 자본 수익률을 계산하기 어렵습니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YRetail 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2023/06/04 19:16종가2023/03/07 00:00수익2023/03/31연간 수익2022/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Shift Technologies, Inc.는 12명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Michael WardBenchmark CompanyMarvin FongBTIGBenjamin SherlundCantor Fitzgerald & Co.9명의 분석가 더 보기
공고 • Jul 23Shift Technologies, Inc. to Report Q2, 2023 Results on Aug 10, 2023Shift Technologies, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023
Reported Earnings • Nov 11Third quarter 2022 earnings released: US$0.92 loss per share (vs US$0.48 loss in 3Q 2021)Third quarter 2022 results: US$0.92 loss per share (further deteriorated from US$0.48 loss in 3Q 2021). Revenue: US$161.9m (down 10.0% from 3Q 2021). Net loss: US$75.8m (loss widened 103% from 3Q 2021). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany.
공고 • Oct 19Shift Technologies, Inc. to Report Q3, 2022 Results on Nov 08, 2022Shift Technologies, Inc. announced that they will report Q3, 2022 results on Nov 08, 2022
Reported Earnings • Aug 11Second quarter 2022 earnings released: US$0.65 loss per share (vs US$0.41 loss in 2Q 2021)Second quarter 2022 results: US$0.65 loss per share (down from US$0.41 loss in 2Q 2021). Revenue: US$223.7m (up 45% from 2Q 2021). Net loss: US$52.2m (loss widened 65% from 2Q 2021). Over the next year, revenue is forecast to grow 4.6%, compared to a 11% growth forecast for the industry in Germany.
공고 • Jul 20Shift Technologies, Inc. to Report Q2, 2022 Results on Aug 09, 2022Shift Technologies, Inc. announced that they will report Q2, 2022 results on Aug 09, 2022
Reported Earnings • May 11First quarter 2022 earnings released: US$0.70 loss per share (vs US$0.55 loss in 1Q 2021)First quarter 2022 results: US$0.70 loss per share (down from US$0.55 loss in 1Q 2021). Revenue: US$219.6m (up 107% from 1Q 2021). Net loss: US$57.0m (loss widened 33% from 1Q 2021). Over the next year, revenue is forecast to grow 54%, compared to a 12% growth forecast for the industry in Germany.
공고 • Mar 08Combined Hearing for DS & Plan Rejected for Shift Technologies, Inc.The US Bankruptcy Court gave an order rejecting the combined hearing to consider approval of disclosure statement and plan of Shift Technologies, Inc. on March 7, 2024. The debtor had filed its disclosure statement and plan in the Court on February 20, 2024.
공고 • Oct 20Shift Technologies, Inc.(OTCPK:SFTG.Q) dropped from NASDAQ Composite IndexShift Technologies, Inc. has been removed from NASDAQ Composite Index .
공고 • Oct 16Maruthi J. D. Venkata Sends Letter to the Board of Shift TechnologiesOn May 26, 2023, Maruthi J. D. Venkata sent a letter to the Board of Directors of Shift Technologies, Inc. In the letter, Maruthi J. D. Venkata expressed his concern over the Company’s operation and financial performance and suggested the Company to (i) immediately restructure its debt, and (2) seek a strategic sale to private equity. Maruthi J. D. Venkata also demanded an observer seat on the Board and any special committee of the Board in charge of the strategic alternatives process.
공고 • Oct 13Shift Technologies, Inc.(NasdaqCM:SFT) dropped from S&P TMI IndexShift Technologies, Inc.(NasdaqCM:SFT) dropped from S&P TMI Index
공고 • Oct 12Nasdaq Commences Proceedings to Delist the Shift Technologies' Common StockOn October 10, 2023, the Shift Technologies, Inc. was notified by the Listing Qualifications Staff (the ‘Staff’) of the Nasdaq Stock Market LLC (‘Nasdaq’) that it commenced proceedings to delist the common stock of the Company, par value $0.0001 (the ‘Common Stock’) pursuant to Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, and has determined that the Common Stock will be delisted from the Nasdaq due to the Company’s filing of voluntary cases under Chapter 11 of the Bankruptcy Code. The Company does not intend to appeal the determination and, therefore, it is expected that its Common Stock will be delisted, which would not affect any actions it may take in bankruptcy and does not change its reporting requirements under the rules of the Securities and Exchange Commission (the ‘SEC’). Trading of the Common Stock will be suspended by Nasdaq at the opening of business on October 19, 2023.
공고 • Oct 11+ 1 more updateMotion for Joint Administration Filed by Shift Technologies, Inc.Shift Technologies, Inc., along with its affiliates, filed a motion for joint administration of their Chapter 11 bankruptcy cases in the US Bankruptcy Court on October 9, 2023. As per the motion, the debtor seeks the joint administration of the cases of its affiliates, CarLotz California, LLC; CarLotz Group, Inc.; CarLotz Logistics, LLC; CarLotz Nevada, LLC; CarLotz, Inc.; Fair Dealer Services, LLC; Orange Grove Fleet Solutions, LLC; Orange Peel, LLC; Shift Finance, LLC; Shift Insurance Services LLC; Shift Marketplace Holdings, LLC; Shift Marketplace, LLC; Shift Operations, LLC; Shift Transportation LLC, with its own case for administrative and procedural purposes. Shift Technologies, Inc. has been proposed as the lead debtor.
공고 • Sep 29Shift Technologies, Inc. Announces Board and Committee ChangesShift Technologies, Inc. announced that on September 22, 2023, Luis Ignacio Solorzano Aizpuru, member of the Board of the Company, informed the Company of his decision to resign as a director of the Company, effective September 22, 2023. Mr. Solorzano served as a Class II director, a member of the Audit Committee and member of the Finance Committee of the Board. Mr. Solorzano’s decision to resign from the Board was not the result of any disagreement relating to the Company’s operations, policies or practices. The Company thanks Mr. Solorzano for his commitment and service to the Company. After giving effect to the foregoing director resignation of Mr. Solorzano from the Board, the Board consists of four (4) directors and three (3) vacancies. In connection with Mr. Solorzano’s resignation from the Board, on September 26, 2023, the Board resolved that Adam Nash will serve as a member of the Audit Committee. Pursuant to the Company’s Director Compensation Policy, Mr. Nash will receive an additional cash retainer of $10,000 for his service on the Audit Committee, prorated for service for less than an entire annual period.
공고 • Aug 30Shift Technologies, Inc. Announces Resignation of Victoria Mcinnis as Member of the Board of DirectorsOn August 22, 2023, Victoria McInnis, member of the Board of Directors of Shift Technologies, Inc. informed the Company of her decision to resign as a director of the Company, effective August 22, 2023. Ms. McInnis served as a Class I director, a member of the Audit Committee and Chair of the Leadership Development, Compensation and Governance Committee of the Board. Ms. McInnis’ decision to resign from the Board was not the result of any disagreement relating to the Company’s operations, policies or practices. The Company thanks Ms. McInnis for her commitment and service to the Company. After giving effect to the foregoing director resignation of Ms. McInnis from the Board, the Board consists of six (6) directors and one (1) vacancy.
공고 • Jul 23Shift Technologies, Inc. to Report Q2, 2023 Results on Aug 10, 2023Shift Technologies, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023
공고 • Jul 12Shift Technologies, Inc. Plans to Reduce the WorkforceShift Technologies, Inc. announced a plan to restructure and reduce the company’s workforce to better align people and responsibilities with the company’s omnichannel sales strategy. The restructuring plan is the result of a review by the company’s recently appointed CEO Ayman Moussa as well as evaluations conducted as part of the company’s review of strategic alternatives. The new structure is designed to improve the customer experience, increase efficiencies throughout the sales process, and better leverage its fixed costs. The company has also decided to eliminate investment into the company’s dealer marketplace business in order to focus on core operations. As a result of the restructuring, the company expects to reduce its headcount by approximately 34%. Approximately 60% of the headcount reductions are in operational roles, primarily as a result of eliminating centralized support. The remaining headcount reductions are concentrated among technology roles as a result of eliminating investment into the dealer marketplace, as well as general corporate roles. The company expects the reduction in force to result in annualized SG&A savings of approximately $14 million. The Company expects to incur non-recurring charges of approximately $900,000, consisting primarily of employee severance costs. The strategic alternatives review process established to maximize value for all stakeholders is ongoing.
공고 • Jun 29Shift Technologies, Inc. Announces Executive ChangesShift Technologies, Inc. (the “ Company”) is announcing that Sean Foy is no longer the Chief Operating Officer of the Company, effective June 23, 2023 (the “ Effective Date”). The Company presently does not have any plans to fill the position of Chief Operating Officer, and Ayman Moussa, Chief Executive Officer of the Company, assumed oversight of the majority of Mr. Foy’s operational duties as of the Effective Date.
공고 • Jun 10+ 1 more updateShift Appoints Ayman Moussa as New CEOShift announced that its Board of Directors has appointed Ayman Moussa as Chief Executive Officer and a member of the Board, effective immediately June 9, 2023.Ayman Moussa is an automotive entrepreneur and CEO with over 20 years of industry experience and leadership. In 2009, he founded Carnamic, a group of new and pre-owned auto dealerships in Northern California. Carnamic has 8 locations and over $200 million in annual revenue. Mr. Moussa succeeds Jeff Clementz, who will remain with the Company as a strategic advisor to Moussa, the Board, and the management team during a transition period. Mr. Clementz will step down from the Board effective immediately.
공고 • May 17Shift Technologies, Inc. announced delayed 10-Q filingOn 05/16/2023, Shift Technologies, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
공고 • Feb 13Shift Technologies Receives Written Notice from Nasdaq Regarding Minimum Value of Listed SecuritiesAs previously disclosed, on December 22, 2022, Shift Technologies, Inc. received a written notice (the “ MVLS Notice”) from the Listing Qualifications Department (the “ Staff”) of The Nasdaq Stock Market LLC (“ Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Minimum Value of Listed Securities was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2) (the “ MVLS Requirement”). On February 8, 2023, the Company received a written notice from the Staff notifying the Company that the Staff is withdrawing the MVLS Notice and closing the matter upon determining, after its review of a Change in Shares Outstanding form submitted by the Company, that the Company would have met the MVLS Requirement within the applicable 30-business day period. As previously disclosed, the Company has until April 3, 2023 to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “ Bid Price Requirement”) with respect to the Company’s Class A common stock, par value $0.0001 per share (“ Class A common stock”). The Company intends to monitor the closing bid price of its Class A common stock and may, if appropriate, consider available options to regain compliance with the Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement.
공고 • Feb 03A local dealership group has agreed to acquire East Coast Stores of Shift Technologies, Inc. (NasdaqCM:SFT).An unknown local dealership group has agreed to acquire East Coast Stores of Shift Technologies, Inc. (NasdaqCM:SFT) on February 2, 2023. The store leases, inventory, and related assets in Richmond, VA, Charlottesville, VA, and Tampa, FL, will be assumed by a local dealership group. The stores in Midlothian, VA, Charlotte, NC, and Greensboro, NC will be closed, effective today.
공고 • Dec 30Shift Technologies Receives Non-Compliance Notice from NasdaqOn December 22, 2022, Shift Technologies, Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Minimum Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2) (the “MVLS Requirement”). The Notice does not impact the listing of the Company’s Class A common stock, par value $0.0001 per share (“Class A common stock”), on The Nasdaq Capital Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the “Compliance Period Rule”), the Company has a period of 180 calendar days from the date of the Notice, or until June 20, 2023 (the “Compliance Date”), to regain compliance with the MVLS Requirement. If at any time before the Compliance Date the Company’s MVLS closes at $35 million or more for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the MVLS Requirement (unless the Staff exercises its discretion to extend this 10 business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H)). If compliance in not achieved by the Compliance Date, the Company expects that Nasdaq would provide written notification to the Company that its securities are subject to delisting. The Company will continue to monitor its MVLS and consider its available options to regain compliance with the MVLS Requirement, which may include applying for an extension of the compliance period or appealing to a Nasdaq Hearings Panel. However, there can be no assurance that the Company will be able to regain compliance with the MVLS Requirement.
공고 • Dec 10+ 2 more updatesShift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others.Shift Technologies, Inc. (NasdaqCM:SFT) submitted a non-binding indication of interest to acquire CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others on July 16, 2022. Shift Technologies, Inc. (NasdaqCM:SFT) entered into a definitive agreement to acquire CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others for approximately $120 million on August 9, 2022. Under the terms of the merger agreement, CarLotz shareholders are expected to receive approximately 0.692158 shares of Shift common stock for each share of CarLotz common stock. The actual exchange ratio will be adjusted at the closing based on Shift’s issued and outstanding shares prior to the effective time of the merger, relative to the fully diluted CarLotz shares prior to the effective time of the merger. Based on the expected exchange ratio, upon the closing of the merger Shift’s then-current equity holders will own approximately 52.9% of the combined company, and CarLotz’s then-current equity holders will own approximately 47.1% of the combined company, calculated on a fully diluted basis. The combined company will continue to trade on Nasdaq under the ticker SFT. Shift shall pay a termination fee of $4.25 million to CarLotz while CarLotz shall pay Shift a termination fee of $4.25 million. The transaction is subject to CarLotz’s and Shift’s shareholders' approvals, a registration statement on Form S-4 to be filed in connection with the deal shall be effective, the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the authorization for listing of shares of Shift common stock to be issued in connection with the deal, satisfaction or waiver of certain minimum cash conditions and other customary and regulatory approvals. The transactions have been unanimously approved by each of the board of directors of Shift and the board of directors of CarLotz. The shareholders meeting of Shift and CarLotz, Inc. are both scheduled on December 7, 2022. As of November 8, 2022, the registration statement was declared effective. On December 7, 2022, CarLotz stockholders approved the agreement and plan of merger, The transaction is expected to close in the fourth quarter of 2022. The Merger is expected to close on or about December 9, 2022. Shift is advised by Centerview Partners as financial advisor with a service fee of $3 million, due diligence provider and fairness opinion provider with a service fee of $2 million while Cohen & Company Capital Markets as financial advisor and due diligence provider and Robert J. Rawn and Jeremy A. Casper of Jenner & Block LLP as legal counsel and due diligence provider. CarLotz is advised by William Blair & Company as financial advisor with a service fee of $1.5 million and fairness opinion provider with a service fee of $1 million and Valerie Ford Jacob and Sebastian L. Fain of Freshfields Bruckhaus Deringer LLP as legal counsel and due diligence provider. American Stock Transfer & Trust Company, LLC acted as transfer agent to CarLotz. MacKenzie Partners, Inc. acted as information agent with a service fee of $15,000 to Shift while Morrow & Co., LLC acted as information agent with a service fee of $25,000 to CarLotz. Deloitte Tax LLP and Deloitte & Touche LLP acted as due diligence providers to CarLotz. Shift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of CarLotz, Inc. (NasdaqGM:LOTZ) from Acamar Partners Sponsor I LLC and others on December 9, 2022. In connection with the closing, Jason Krikorian and Manish Patel resigned from the Shift Board of Directors, and Kimberly H. Sheehy, James E. Skinner, and Luis Ignacio Solorzano joined the Shift Board of Directors.
공고 • Dec 06Shift Technologies, Inc. Announces Board ChangesShift Technologies, Inc. on November 30, 2022, the Board of Directors of Shift Technologies, Inc., by unanimous written consent and pursuant to the recommendation of all of the members of the Leadership Development, Compensation and Governance Committee of the Company, elected Jeff Clementz, Chief Executive Officer, to serve as a Class II director of the Company. Mr. Clementz will serve as a director of the Company and will be included as a nominee for election as a director at each applicable annual stockholder meeting during the term of the Clementz Agreement.
Board Change • Nov 17High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Kellyn Kenny is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Nov 11Third quarter 2022 earnings released: US$0.92 loss per share (vs US$0.48 loss in 3Q 2021)Third quarter 2022 results: US$0.92 loss per share (further deteriorated from US$0.48 loss in 3Q 2021). Revenue: US$161.9m (down 10.0% from 3Q 2021). Net loss: US$75.8m (loss widened 103% from 3Q 2021). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany.
공고 • Nov 09Shift Technologies, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2022Shift Technologies, Inc. provided earnings guidance for the fourth quarter and full year of fiscal 2022. For the quarter, the company expects revenue in the range of $60 million - $70 million.For the year, the company expects revenue in the range of $665 - $675 million.
공고 • Oct 19Shift Technologies, Inc. to Report Q3, 2022 Results on Nov 08, 2022Shift Technologies, Inc. announced that they will report Q3, 2022 results on Nov 08, 2022
Board Change • Oct 14High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Kellyn Kenny is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공고 • Oct 10Shift Technologies Receives a Written Notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC Regarding Minimum Bid Price RequirementOn October 4, 2022, Shift Technologies, Inc. ("the Company") received a written notice ("the Notice") from the Listing Qualifications Department ("the Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the bid price for the Company's Class A common stock, par value $0.0001 per share ("Class A common stock"), had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) ("the Bid Price Requirement"). The Notice does not impact the listing of Class A common stock on the Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(A) ("the Compliance Period Rule"), the Company has a period of 180 calendar days from the date of the Notice, or until April 3, 2023 ("the Compliance Date"), to regain compliance with the Bid Price Requirement. During this period, Class A common stock will continue to trade on the Nasdaq Global Market. If at any time before the Compliance Date the bid price of Class A common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the Bid Price Requirement (unless the Staff exercises its discretion to extend this 10 business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H)).
공고 • Aug 26Shift Technologies, Inc. Announces Board Changes, Effective August 31, 2022Shift Technologies, Inc. announced that Emily Melton, Lead Director who has served on the company’s Board since 2014, will be stepping down from the Board, effective August 31, 2022. Jason Krikorian, company Director since 2018, will succeed Melton as Lead Director.
Reported Earnings • Aug 11Second quarter 2022 earnings released: US$0.65 loss per share (vs US$0.41 loss in 2Q 2021)Second quarter 2022 results: US$0.65 loss per share (down from US$0.41 loss in 2Q 2021). Revenue: US$223.7m (up 45% from 2Q 2021). Net loss: US$52.2m (loss widened 65% from 2Q 2021). Over the next year, revenue is forecast to grow 4.6%, compared to a 11% growth forecast for the industry in Germany.
공고 • Aug 11Shift Technologies, Inc. (NasdaqCM:SFT) entered into a definitive agreement to acquire CarLotz, Inc. (NasdaqGM:LOTZ) for approximately $120 million.Shift Technologies, Inc. (NasdaqCM:SFT) entered into a definitive agreement to acquire CarLotz, Inc. (NasdaqGM:LOTZ) for approximately $120 million on August 9, 2022. Under the terms of the merger agreement, CarLotz shareholders are expected to receive approximately 0.692158 shares of Shift common stock for each share of CarLotz common stock. The actual exchange ratio will be adjusted at the closing based on Shift’s issued and outstanding shares prior to the effective time of the merger, relative to the fully diluted CarLotz shares prior to the effective time of the merger. Based on the expected exchange ratio, upon the closing of the merger Shift’s then-current equity holders will own approximately 52.9% of the combined company, and CarLotz’s then-current equity holders will own approximately 47.1% of the combined company, calculated on a fully diluted basis. The combined company will continue to trade on Nasdaq under the ticker SFT. The transaction is subject to CarLotz’s and Shift’s shareholders' approvals and other customary and regulatory approvals. The transaction is expected to close in the fourth quarter of 2022. Shift is advised by Centerview Partners and Cohen & Company Capital Markets as financial advisor and Jenner & Block LLP as legal counsel. CarLotz is advised by William Blair & Company as financial advisor and Freshfields Bruckhaus Deringer LLP as legal counsel.
공고 • Aug 10+ 1 more updateShift Technologies, Inc. Announces Executive Changes, Effective September 1, 2022Shift Technologies, Inc. and its Board of Directors announced that Co-Founder and CEO George Arison will be stepping down as CEO effective September 1, 2022, and will be succeeded by the President of Shift, Jeff Clementz. Mr. Arison will continue in his role as Chairman of the Board of Directors. Arison started Shift in 2013. Since then, Shift has served over 100,000 customers and generated approximately $2 billion in cumulative revenue. In 2020, Arison became by all accounts the first ever openly gay founder-CEO to take an American company public. Since then, Shift has met or exceeded 27 of the 29 guidance metrics it has provided as a public company.
공고 • Jul 20Shift Technologies, Inc. to Report Q2, 2022 Results on Aug 09, 2022Shift Technologies, Inc. announced that they will report Q2, 2022 results on Aug 09, 2022
공고 • Jun 26+ 2 more updatesShift Technologies, Inc.(NasdaqCM:SFT) dropped from Russell Microcap Value IndexShift Technologies, Inc.(NasdaqCM:SFT) dropped from Russell Microcap Value Index
공고 • May 28Shift Technologies, Inc., Annual General Meeting, Jul 08, 2022Shift Technologies, Inc., Annual General Meeting, Jul 08, 2022, at 14:00 Pacific Standard Time. Agenda: To elect three Class II directors to serve for a term of three years or until their respective successors are duly elected and qualified;to ratify the appointment of Deloitte & Touche LLP as Shift’s independent registered public accounting firm for the fiscal year ending December 31, 2022;and to consider such other business as may properly come before the Annual Meeting and any adjournments or postponements thereof.
공고 • May 13Shift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of Certain Automotive Dealer Marketplace Assets of Fair Financial Corp.Shift Technologies, Inc. (NasdaqCM:SFT) agreed to acquire Certain Automotive Dealer Marketplace Assets of Fair Financial Corp. on March 14, 2022. The consideration for the assets will consist of cash in the amount of $15,000,000 and an amount of shares of the company’s Class A common stock equal to 2.5% of the issued and outstanding shares of the company’s Class A common stock as of immediately prior to the closing of the transactions contemplated by the Purchase Agreement. The transaction will be fully funded by a $20 million unsecured debt facility with a 6% coupon from Softbank Group. The Purchase Agreement has been approved by the Boards of Directors of the company and Fair. The acquisition is expected to close during the second quarter of 2022, subject to the satisfaction or waiver of the applicable closing conditions. As of May 10, 2022, the acquisition is expected to close in May. This acquisition will be cash-neutral for Shift. Joseph Barry and Craig D. Grear of Young Conaway Stargatt & Taylor, LLP acted as legal advisor to Fair Financial Corp. Robert Rawn and Jeremy Casper of Jenner & Block LLP acted as legal advisor to Shift Technologies, Inc. Shift Technologies, Inc. (NasdaqCM:SFT) completed the acquisition of Certain Automotive Dealer Marketplace Assets of Fair Financial Corp. on May 12, 2022. Concurrently with the closing of the Fair acquisition, Shift also closed the issuance of senior unsecured notes to an affiliate of SoftBank Group Corp. Shift is advised by William Blair & Company as financial advisor. Fair is advised by Cohen & Company Capital Markets, a division of J.V.B. Financial Group, as financial advisor. SoftBank Group is advised by Morrison & Foerster LLP as legal counsel.
공고 • May 12Shift Technologies, Inc. Provides Revenue Guidance for the Second Quarter of 2022Shift Technologies, Inc. provided revenue guidance for the second quarter of 2022. The company projects 49% year-over-year second quarter 2022 revenue growth, at the midpoint of management guidance range.
Reported Earnings • May 11First quarter 2022 earnings released: US$0.70 loss per share (vs US$0.55 loss in 1Q 2021)First quarter 2022 results: US$0.70 loss per share (down from US$0.55 loss in 1Q 2021). Revenue: US$219.6m (up 107% from 1Q 2021). Net loss: US$57.0m (loss widened 33% from 1Q 2021). Over the next year, revenue is forecast to grow 54%, compared to a 12% growth forecast for the industry in Germany.
Board Change • Apr 29High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Director Kellyn Kenny is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공고 • Apr 09Shift Technologies, Inc. to Report Q1, 2022 Results on May 10, 2022Shift Technologies, Inc. announced that they will report Q1, 2022 results on May 10, 2022
Reported Earnings • Mar 17Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: US$2.13 loss per share (up from US$3.12 loss in FY 2020). Revenue: US$636.9m (up 225% from FY 2020). Net loss: US$166.3m (loss widened 181% from FY 2020). Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 63%, compared to a 18% growth forecast for the retail industry in Germany.
공고 • Mar 04Shift Technologies, Inc. to Report Q4, 2021 Results on Mar 15, 2022Shift Technologies, Inc. announced that they will report Q4, 2021 results on Mar 15, 2022
Reported Earnings • Nov 15Third quarter 2021 earnings released: US$0.48 loss per share (vs US$6.96 loss in 3Q 2020)The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: US$179.8m (up 200% from 3Q 2020). Net loss: US$37.4m (loss widened 60% from 3Q 2020).
Reported Earnings • Aug 12Second quarter 2021 earnings released: US$0.41 loss per share (vs US$5.79 loss in 2Q 2020)The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: US$154.9m (up 377% from 2Q 2020). Net loss: US$31.7m (loss widened 67% from 2Q 2020).
공고 • Jul 23Shift Technology Announces Shift Claims Automation on Salesforce AppExchangeShift Technology announced it has launched Shift Claims Automation on Salesforce AppExchange, empowering insurers and agents with more opportunities to settle straightforward claims without involving claims handlers or loss adjusters. Giving insurance companies' customer service professionals the tools, information, and knowledge to help settle claims more efficiently and accurately is one of the best ways to meet customer experience challenges facing the industry. Shift Claims Automation functions as a virtual claims handler that helps customer service representatives or agents to resolve claims directly, bypassing the traditional claims process. The solution automatically validates all the information required to move a claim forward. An AI decision engine evaluates coverage granted by the policy, liability, validity/appropriateness of documentation, and the potential of the claim being fraudulent or suspicious. Allowing associates to close claims directly with customers can reduce the time required to remit payment, resulting in more satisfying customer experiences. Availability on AppExchange means that the solution will integrate with existing Salesforce deployments.
Recent Insider Transactions • Jun 02Chief Financial Officer recently bought €57k worth of stockOn the 27th of May, Oded Shein bought around 10k shares on-market at roughly €5.74 per share. This was the largest purchase by an insider in the last 3 months. This was Oded's only on-market trade for the last 12 months.
Reported Earnings • May 13First quarter 2021 earnings released: US$0.55 loss per share (vs US$0.35 loss in 1Q 2020)The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: US$106.0m (up 254% from 1Q 2020). Net loss: US$42.8m (loss widened 247% from 1Q 2020).
공고 • May 13+ 1 more updateShift Technologies, Inc. Raising Guidance for the Year Ending December 31, 2021Shift Technologies, Inc. raising guidance for the year ending December 31, 2021. For the year, the company expects revenue in the range of $480 million - $520 million, an increase of 145% - 166% year-over-year.
공고 • May 11Shift Begins Selling Cars to Customers in Austin-San Antonio AreaShift has launched a new market for consumers to buy its cars in Texas. With this launch, consumers in the Austin-San Antonio region can now buy and sell vehicles directly with Shift, using the company's unique direct-to-consumer, at-home service. Austin-San Antonio is the first full-service market in Texas where consumers can purchase cars from Shift; this adds to the four markets in the state where they can sell their vehicles directly to the company as well. Car shoppers across the state can access Shift's online purchase process, and those in the greater Austin-San Antonio area can take advantage of its unique at-home test drive service as well. Through the shift.com website, customers can shop cars in the local area, and schedule a test drive. A Shift concierge will then drive the car to the customer's location and allow the customer to test drive it in a socially distanced way. To purchase they'll complete the transaction on the spot through an iPad, including optional financing and vehicle protection plans. The test drive-purchase process is approximately one hour start to finish. With this newest addition, Shift now provides its in-person buyer experience in seven markets across the western states of California, Texas, Washington, and Oregon.
공고 • May 05Shift Begins Buying Cars from Consumers in Las VegasShift announced the launch of its service to purchase cars from consumers in the Las Vegas region. With the addition of this new market, the company's first in the state of Nevada, consumers are now eligible to sell their cars directly to Shift in 11 geographies across the United States. With Shift's car-buying service, which is now available to consumers within the greater Las Vegas region, consumers have an easy, fast, and transparent alternative to the traditional methods of selling their cars. They can begin by getting an instant, no-obligation online quote on Shift.com. If they wish to move forward, they can then book an evaluation appointment where a Shift Concierge will come to their location, evaluate the car and make a final offer. If they accept, the customer will complete the transaction digitally, including electronic payment initiation and DMV paperwork, right then and there using Shift's unique iPad app. Start to finish, evaluation appointments take approximately one hour.
Executive Departure • May 05Senior VP of Accounting & Controller has left the companyOn the 3rd of May, Blima Tuller's tenure as Senior VP of Accounting & Controller ended after less than a year in the role. We don't have any record of a personal shareholding under Blima's name. Blima is the only executive to leave the company over the last 12 months.
공고 • Mar 16Shift Technologies, Inc. Announces Executive ChangesOn March 9, 2021, the Leadership Development, Compensation and Governance Committee of the Board of Directors of Shift Technologies, Inc. approved the appointment of Oded Shein, age 59, as the Company’s Chief Financial Officer, replacing Cindy Hanford, who had been serving as Chief Financial Officer since the Company’s merger with Insurance Acquisition Corp. Mr. Shein will join the Company on March 15, 2021. It is anticipated that Ms. Hanford will remain as the Chief Financial Officer of the Company through the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and then will remain with the Company in a consulting capacity through April 21, 2021 to effect an orderly transition. Mr. Shein previously served as Chief Financial Officer of The Fresh Market, Inc. since August 2018.
Analyst Estimate Surprise Post Earnings • Mar 10Revenue beats expectationsRevenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 127%, compared to a 7.4% growth forecast for the Specialty Retail industry in Germany.
Reported Earnings • Mar 10Full year 2020 earnings released: US$3.12 loss per share (vs US$2.33 loss in FY 2019)The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$195.7m (up 18% from FY 2019). Net loss: US$59.1m (loss narrowed 27% from FY 2019).
공고 • Feb 18Shift Technologies, Inc. to Report Q4, 2020 Results on Mar 08, 2021Shift Technologies, Inc. announced that they will report Q4, 2020 results After-Market on Mar 08, 2021