CarLotz (LOTZ) 10-Q/A 13 Aug 21 2021 Q2 Quarterly report (amended) Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 09, 2021
Document Information [Line Items]
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38818
Entity Registrant Name	CarLotz, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2456129
Entity Address, Address Line One	611 Bainbridge Street, Suite 100
Entity Address, City or Town	Richmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23224
City Area Code	804
Local Phone Number	728-3833
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		113,670,060
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001759008
Common Class A
Document Information [Line Items]
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	LOTZ
Security Exchange Name	NASDAQ
Redeemable warrants, exercisable for Class A common stock at an exercise price of $11.50 per shar
Document Information [Line Items]
Title of 12(b) Security	Redeemable warrants, exercisable for Class A common stock at an exercise price of $11.50 per share
Trading Symbol	LOTZW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 83,576	$ 2,208
Restricted cash	226	605
Marketable securities – at fair value	175,424	1,032
Accounts receivable, net	5,411	4,132
Inventories	47,469	11,202
Other current assets	6,253	6,679
Total Current Assets	318,359	25,858
Marketable securities – at fair value	3,481	0
Property and equipment, net	11,662	1,868
Capitalized website and internal-use software costs, net	9,898	0
Lease vehicles, net	337	173
Other assets	4,390	299
Total Assets	348,127	28,198
Current Liabilities:
Current portion of long-term debt	212	6,370
Floor plan notes payable	29,427	6,039
Accounts payable	8,782	6,283
Accrued transaction expenses	0	6,052
Accrued expenses	13,238	3,563
Accrued expenses – related party	0	5,082
Other current liabilities	5,425	256
Total Current Liabilities	57,084	33,645
Long-term debt, less current portion	7,579	2,999
Redeemable convertible preferred stock tranche obligation	0	2,832
Earnout shares liability	30,228	0
Other liabilities	1,232	1,959
Total Liabilities	122,464	41,435
Commitments and Contingencies (Note 15)	0	0
Redeemable Convertible Preferred Stock:
Series A Preferred Stock, $0.001 stated value; authorized 3,052,127 shares; after recapitalization there are no preferred shares issued or outstanding at June 30, 2021 and December 31, 2020	0	0
Stockholders’ Equity (Deficit):
Common stock, $0.0001 par value; 500,000,000 authorized shares, 113,670,060 and 58,621,042 shares issued and outstanding at June 30, 2021 and December 31, 2020	11	6
Additional paid-in capital	281,976	20,779
Accumulated deficit	(56,264)	(34,037)
Accumulated other comprehensive income (loss)	(60)	15
Treasury stock, $0.001 par value; after recapitalization there are no treasury shares issued or outstanding at June 30, 2021 and December 31, 2020	0	0
Total Stockholders’ Equity (Deficit)	225,663	(13,237)
Liabilities and Equity	348,127	28,198
Merger warrants liability
Current Liabilities:
Merger warrants liability	$ 26,341	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized shares (in shares)	500,000,000	500,000,000
Common stock, issued shares (in shares)	113,670,060	113,670,060
Common stock, outstanding shares (in shares)	58,621,042	58,621,042
Treasury stock, par value (in dollars per share)	$ 0.001	$ 0.001
Redeemable Convertible Preferred Stock
Series A Preferred Stock, stated value (in dollars per share)	$ 0.001	$ 0.001
Series A Preferred Stock, authorized shares (in shares)	3,052,127	3,052,127

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Lease income, net	$ 98	$ 127	$ 205	$ 272
Total Revenues	50,768	26,399	107,380	51,789
Cost of sales (exclusive of depreciation)	46,586	23,670	101,190	46,588
Gross Profit	4,182	2,729	6,190	5,201
Operating Expenses:
Selling, general and administrative	19,386	3,073	38,259	6,989
Stock-based compensation expense	3,704	3	45,667	37
Depreciation and amortization expense	95	91	478	191
Management fee expense – related party	0	70	2	132
Total Operating Expenses	23,185	3,237	84,406	7,349
Loss from Operations	(19,003)	(508)	(78,216)	(2,148)
Interest expense	184	107	359	256
Other Income, net
Change in fair value of Merger warrants liability	325	0	12,683	0
Change in fair value of redeemable convertible preferred stock tranche obligation	0	345	0	629
Change in fair value of earnout provision	12,210	0	44,056	0
Other income (expense)	(553)	61	(391)	64
Total Other Income, net	11,982	406	56,348	693
Loss Before Income Tax Expense	(7,205)	(209)	(22,227)	(1,711)
Income tax expense	0	4	0	9
Net Loss	$ (7,205)	$ (213)	$ (22,227)	$ (1,720)
Net Loss per Share, basic (in dollars per share)	$ (0.06)	$ 0	$ (0.21)	$ (0.03)
Net Loss per Share, diluted (in dollars per share)	$ (0.06)	$ 0	$ (0.21)	$ (0.03)
Weighted-average Shares used in Computing Net Loss per Share, basic	113,670,060	58,621,041	107,279,227	58,621,041
Weighted-average Shares used in Computing Net Loss per Share, diluted (in shares)	113,670,060	58,621,041	107,279,227	58,621,041
Retail vehicle sales
Revenues:
Revenue	$ 44,230	$ 23,652	$ 94,613	$ 44,694
Gross Profit	2,589	1,661	4,055	3,148
Wholesale vehicle sales
Revenues:
Revenue	4,660	1,725	9,228	5,036
Gross Profit	(285)	46	(1,404)	(6)
Finance and insurance, net
Revenues:
Revenue	$ 1,780	$ 895	$ 3,334	$ 1,787

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (7,205)	$ (213)	$ (22,227)	$ (1,720)
Other Comprehensive Income (Loss), net of tax:
Unrealized gains (losses) on marketable securities arising during the period	61	10	(70)	17
Tax effect	0	(4)	0	(4)
Unrealized gains (losses) on marketable securities arising during the period, net of tax	61	6	(70)	13
Reclassification adjustment for realized losses	(5)	0	(5)	(3)
Tax effect	0	1	0	1
Reclassification adjustment for realized losses, net of tax	(5)	1	(5)	(2)
Other comprehensive income, net of tax	56	7	(75)	11
Total Comprehensive Income (Loss)	$ (7,149)	$ (206)	$ (22,302)	$ (1,709)

Condensed Consolidated Statem_3

Condensed Consolidated Statements Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Previously Reported	Revision of Prior Period, Adjustment	Common Stock	Common StockPreviously Reported	Common StockRevision of Prior Period, Adjustment	Additional Paid-in Capital	Additional Paid-in CapitalPreviously Reported	Additional Paid-in CapitalRevision of Prior Period, Adjustment	Accumulated Deficit	Accumulated DeficitPreviously Reported	Accumulated DeficitRevision of Prior Period, Adjustment	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Previously Reported	Accumulated Other Comprehensive Income (Loss)Revision of Prior Period, Adjustment
Beginning balance (in shares) at Dec. 31, 2019	0	2,034,751	(2,034,751)
Beginning balance at Dec. 31, 2019	$ 0	$ 17,560	$ (17,560)
Ending balance (in shares) at Mar. 31, 2020	0
Ending balance at Mar. 31, 2020	$ 0
Beginning balance (in shares) at Dec. 31, 2019				58,621,042	37,881,435	20,739,607
Beginning balance at Dec. 31, 2019	(4,861)	$ (22,421)	$ 17,560	$ 6	$ 4	$ 2	$ 22,618	$ 5,060	$ 17,558		$ (27,485)		$ (27,485)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,507)									$ (1,507)
Accrued dividends on redeemable convertible preferred stock	(456)						(456)
Redeemable convertible preferred stock issuance	4												4
Stock-based compensation	34						34
Ending balance (in shares) at Mar. 31, 2020				58,621,042
Ending balance at Mar. 31, 2020	$ (6,786)			$ 6			22,196			(28,992)			4
Beginning balance (in shares) at Dec. 31, 2019	0	2,034,751	(2,034,751)
Beginning balance at Dec. 31, 2019	$ 0	$ 17,560	$ (17,560)
Ending balance (in shares) at Jun. 30, 2020	0
Ending balance at Jun. 30, 2020	$ 0
Beginning balance (in shares) at Dec. 31, 2019				58,621,042	37,881,435	20,739,607
Beginning balance at Dec. 31, 2019	(4,861)	$ (22,421)	$ 17,560	$ 6	$ 4	$ 2	22,618	5,060	17,558		(27,485)		(27,485)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,720)
Other comprehensive income, net of tax	11
Ending balance (in shares) at Jun. 30, 2020				58,621,042
Ending balance at Jun. 30, 2020	$ (7,455)			$ 6			21,733			(29,205)			11
Beginning balance (in shares) at Mar. 31, 2020	0
Beginning balance at Mar. 31, 2020	$ 0
Ending balance (in shares) at Jun. 30, 2020	0
Ending balance at Jun. 30, 2020	$ 0
Beginning balance (in shares) at Mar. 31, 2020				58,621,042
Beginning balance at Mar. 31, 2020	(6,786)			$ 6			22,196			(28,992)			4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(213)									(213)
Other comprehensive income, net of tax	7												7
Accrued dividends on redeemable convertible preferred stock	(466)						(466)
Stock-based compensation	3						3
Ending balance (in shares) at Jun. 30, 2020				58,621,042
Ending balance at Jun. 30, 2020	$ (7,455)			$ 6			21,733			(29,205)			11
Beginning balance (in shares) at Dec. 31, 2020	0	2,034,751	(2,034,751)
Beginning balance at Dec. 31, 2020	$ 0	$ 17,560	$ (17,560)
Ending balance (in shares) at Mar. 31, 2021	0
Ending balance at Mar. 31, 2021	$ 0
Beginning balance (in shares) at Dec. 31, 2020	58,621,042			58,621,042	37,881,435	20,739,607
Beginning balance at Dec. 31, 2020	$ (13,237)	$ (30,797)	$ 17,560	$ 6	$ 4	$ 2	20,779	3,221	17,558	(34,037)	(34,037)	$ 0	15	$ 15	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(15,022)									(15,022)
Other comprehensive income, net of tax	(131)												(131)
Accrued dividends on redeemable convertible preferred stock	(19)						(19)
PIPE issuance (in shares)				12,500,000
PIPE issuance	125,000			$ 1			124,999
Merger financing (in shares)				38,194,390
Merger financing	309,999			$ 4			309,995
Consideration to existing shareholders of Former CarLotz, net of accrued dividends	(62,693)						(62,693)
Transaction costs and advisory fees	(47,579)						(47,579)
Settlement of redeemable convertible preferred stock tranche obligation	2,832						2,832
Cashless exercise of options (in shares)				54,717
Stock-based compensation	41,963						41,963
Earnout liability	(74,284)						(74,284)
Merger warrants liability	(39,025)						(39,025)
KAR/AFC warrant exercise (in shares)				3,546,984
KAR/AFC note payable conversion	3,625						3,625
KAR/AFC warrant exercise (in shares)				752,927
KAR/AFC warrant exercise	144						144
Ending balance (in shares) at Mar. 31, 2021				113,670,060
Ending balance at Mar. 31, 2021	$ 229,108			$ 11			278,272			(49,059)			(116)
Beginning balance (in shares) at Dec. 31, 2020	0	2,034,751	(2,034,751)
Beginning balance at Dec. 31, 2020	$ 0	$ 17,560	$ (17,560)
Ending balance (in shares) at Jun. 30, 2021	0
Ending balance at Jun. 30, 2021	$ 0
Beginning balance (in shares) at Dec. 31, 2020	58,621,042			58,621,042	37,881,435	20,739,607
Beginning balance at Dec. 31, 2020	$ (13,237)	$ (30,797)	$ 17,560	$ 6	$ 4	$ 2	20,779	$ 3,221	$ 17,558	(34,037)	$ (34,037)	$ 0	15	$ 15	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(22,227)
Other comprehensive income, net of tax	$ (75)
Cashless exercise of options (in shares)	56,059
Cash consideration paid to Former Carlotz optionholders	$ (2,465)						(2,465)
Ending balance (in shares) at Jun. 30, 2021	58,621,042			113,670,060
Ending balance at Jun. 30, 2021	$ 225,663			$ 11			281,976			(56,264)			(60)
Beginning balance (in shares) at Mar. 31, 2021	0
Beginning balance at Mar. 31, 2021	$ 0
Ending balance (in shares) at Jun. 30, 2021	0
Ending balance at Jun. 30, 2021	$ 0
Beginning balance (in shares) at Mar. 31, 2021				113,670,060
Beginning balance at Mar. 31, 2021	229,108			$ 11			278,272			(49,059)			(116)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,205)									(7,205)
Other comprehensive income, net of tax	56												56
Stock-based compensation	$ 3,704						3,704
Ending balance (in shares) at Jun. 30, 2021	58,621,042			113,670,060
Ending balance at Jun. 30, 2021	$ 225,663			$ 11			$ 281,976			$ (56,264)			$ (60)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net loss	$ (22,227)	$ (1,720)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization expense	448	101
Amortization and accretion - marketable securities	788	0
Loss on marketable securities	0	(3)
Provision for doubtful accounts	0	6
Stock-based compensation expense	45,667	37
Change in fair value of Merger warrants liability	(12,683)	0
Change in fair value of historic warrants liability	0	(31)
Change in fair value of earnout provision	(44,056)	0
Change in fair value of debt issuance costs and stock warrant	0	12
Change in fair value of redeemable convertible preferred stock tranche obligation	0	(629)
Change in Operating Assets and Liabilities:
Accounts receivable	(1,279)	(336)
Inventories	(36,117)	5,064
Other current assets	(5,466)	(39)
Other assets	(4,091)	5
Accounts payable	2,499	719
Accrued expenses	6,187	1,048
Accrued expenses – related party	(229)	13
Other current liabilities	447	117
Other liabilities	(582)	248
Net Cash (Used in)/Provided by Operating Activities	(70,664)	4,702
Cash Flows from Investing Activities
Purchase of property and equipment	(3,548)	(14)
Capitalized website and internal-use software costs	(6,601)	0
Purchase of marketable securities	(307,560)	(711)
Proceeds from sales of marketable securities	128,954	21
Purchase of lease vehicles	(344)	(87)
Net Cash Used in Investing Activities	(189,099)	(791)
Cash Flows from Financing Activities
Payments made on long-term debt	(18)	(5)
Advance from holder of marketable securities	4,722	0
PIPE issuance	125,000	0
Merger financing	309,999	0
Payment made on accrued dividends	(4,853)	0
Payments to existing shareholders of Former CarLotz	(62,693)	0
Transaction costs and advisory fees	(47,579)	0
Payments made on cash considerations associated with stock options	(2,465)	0
Repayment of Paycheck Protection Program loan	(1,749)	0
Payments made on note payable	(3,000)	0
Borrowings on long-term debt	0	2,249
Payments on floor plan notes payable	(29,056)	(13,394)
Borrowings on floor plan notes payable	52,444	8,598
Net Cash Provided by/( Used in) Financing Activities	340,752	(2,552)
Net Change in Cash and Cash Equivalents Including Restricted Cash	80,989	1,359
Cash and cash equivalents and restricted cash, beginning	2,813	4,102
Cash and cash equivalents and restricted cash, ending	83,802	5,461
Supplemental disclosure of Cash Flow information
Cash paid for interest	490	307
Supplementary Schedule of Non-cash Investing and Financing Activities:
Transfer from lease vehicles to inventory	150	199
Redeemable convertible preferred stock distributions accrued	0	923
Issuance of common stock warrants	0	15
KAR/AFC exercise of stock warrants	(144)	0
KAR/AFC conversion of notes payable	(3,625)	0
Convertible redeemable preferred stock tranche obligation expiration	(2,832)	0
Capitalized website and internal use software costs accrued	(3,488)	0
Purchases of property under capital lease obligation	(6,504)	0
Corporate vehicles
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation – lease vehicles	$ 30	$ 90

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Defined Terms Unless otherwise indicated or unless the context otherwise requires, the following terms used herein shall have the following meanings: • references to “CarLotz,” “we,” “us,” “our” and the “Company” are to CarLotz, Inc. and its consolidated subsidiaries; • references to “Acamar Partners” refer to the Company for periods prior to the consummation of the Merger referred to below; • references to “Acamar Sponsor” are to Acamar Partners Sponsor I LLC; and • references to the “Merger” are to the previously announced merger pursuant to that certain Agreement and Plan of Merger, dated as of October 21, 2020 (as amended by Amendment No. 1, dated December 16, 2020, the “Merger Agreement”), by and among CarLotz, Inc. (f/k/a Acamar Partners Acquisition Corp.) (the “Company”), Acamar Partners Sub, Inc., a wholly owned subsidiary of CarLotz, Inc. (“Merger Sub”), and CarLotz Group, Inc. (f/k/a CarLotz, Inc.) (“Former CarLotz”), pursuant to which Merger Sub merged with and into Former CarLotz, with Former CarLotz surviving as the surviving company and as a wholly owned subsidiary of the Company. The Company is a used vehicle consignment and Retail Remarketing TM company based in Richmond, Virginia. The Company offers an innovative and one-of-a-kind consumer and commercial used vehicle consignment and sales business model, with an online marketplace and fifteen retail hub locations throughout the United States, including in Florida, Illinois, North Carolina, Texas, Virginia, Tennessee, California and Washington State. Subsidiaries are consolidated when the parent is deemed to have control over the subsidiaries’ operations. Subsidiary Operations CarLotz, Inc. owns 100% of CarLotz Group, Inc. (a Delaware corporation), which owns 100% of CarLotz, Inc. (an Illinois corporation), CarLotz Nevada, LLC (a Delaware LLC), CarLotz California, LLC (a California LLC), Orange Grove Fleet Solutions, LLC (a Virginia LLC), Orange Peel Protection Reinsurance Co. Ltd. (a Turks and Caicos Islands, British West Indies company) and Orange Peel LLC (a Virginia LLC), which owns 100% of Orange Peel Reinsurance, Ltd. (a Turks and Caicos Islands, British West Indies company). Basis of Presentation On January 21, 2021 (the “Closing Date”), the Company consummated the previously announced merger pursuant to that certain Agreement and Plan of Merger, dated as of October 21, 2020, by and among the Company, Merger Sub and Former CarLotz, as amended by Amendment No. 1 to the Agreement and Plan of Merger, dated December 16, 2020, by and among the Company, Merger Sub and Former CarLotz (See Note 3 “Merger” for further discussion). Pursuant to the terms of the Merger Agreement, a business combination between the Company and Former CarLotz was effected through the merger of Merger Sub with and into Former CarLotz with Former CarLotz surviving as the surviving company. Notwithstanding the legal form of the Merger pursuant to the Merger Agreement, the Merger is accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, CarLotz is treated as the acquired company and Former CarLotz is treated as the acquiror for financial statement reporting and accounting purposes. As a result of Former CarLotz being the accounting acquirer, the financial reports filed with the SEC by the Company subsequent to the Merger are prepared “as if” Former CarLotz is the predecessor and legal successor to the Company. The historical operations of Former CarLotz are deemed to be those of the Company. Thus, the financial statements included in this report reflect (i) the historical operating results of Former CarLotz prior to the Merger, (ii) the combined results of the Company and Former CarLotz following the Merger on January 21, 2021, (iii) the assets and liabilities of Former CarLotz at their historical cost and (iv) the Company’s equity structure for all periods presented. The recapitalization of the number of shares of common stock attributable to the purchase of Former CarLotz in connection with the Merger is reflected retroactively to the earliest period presented and will be utilized for calculating earnings per share in all prior periods presented. No step-up basis of intangible assets or goodwill was recorded in the Merger transaction consistent with the treatment of the transaction as a reverse recapitalization of Former CarLotz. In connection with the Merger, Acamar Partners Acquisition Corp. changed its name to CarLotz, Inc. The Company’s common stock is now listed on The Nasdaq Global Market under the symbol “LOTZ” and warrants to purchase the common stock at an exercise price of $11.50 per share are listed on The Nasdaq Global Market under the symbol “LOTZW”. Prior to the Merger, the Company neither engaged in any operations nor generated any revenue. Until the Merger, based on the Company’s business activities, it was a “shell company” as defined under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The accompanying interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in annual financial statements have been condensed or omitted pursuant to such rules and regulations. Therefore, these interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes of Former CarLotz as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018 (audited consolidated financial statements) filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on March 15, 2021. The condensed consolidated balance sheet as of December 31, 2020, included herein, was derived from the audited consolidated financial statements of Former CarLotz as of that date filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on March 15, 2021. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in management’s opinion, include all adjustments, which consist of only normal recurring adjustments, necessary for the fair statement of the Company’s condensed consolidated balance sheet as of June 30, 2021 and its results of operations for the six months ended June 30, 2021 and 2020. The results for the six months ended June 30, 2021 are not necessarily indicative of the results expected for the current fiscal year or any other future periods.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies For a detailed discussion about the Company’s significant accounting policies and for further information on accounting updates adopted in the prior year, see Note 2 to the audited consolidated financial statements. During the six months ended June 30, 2021, there were no significant revisions to the Company’s significant accounting policies, other than those indicated herein. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. Following the closing of the Merger, Former CarLotz equity holders at the effective time of the Merger will have the contingent right to receive, in the aggregate, up to 7,500,000 shares of common stock if, from the closing of the Merger until the fifth anniversary thereof, the reported closing trading price of the common stock exceeds certain thresholds. Estimating the change in fair value of the earnout liability for the earnout shares that could be earned by Former CarLotz equity holders at the effective time of the Merger requires determining both the fair value valuation model to use and inputs to the valuation model. The fair value of the earnout shares was estimated by utilizing a Monte-Carlo simulation model, which is a commonly used valuation model for this type of transaction. Inputs that have a significant effect on the earnout shares valuation include the expected volatility, starting stock price, expected term, risk-free interest rate and the earnout hurdles. See Note 6 — Fair Value of Financial Instruments. Warrants that were issued by Acamar Partners (Merger warrants) and continue to exist following the closing of the Merger are accounted for as freestanding financial instruments. These warrants are classified as liabilities on the Company’s condensed consolidated balance sheets and are recorded at their estimated fair value. The estimated fair value of the warrants is determined by using the market value in an active trading market. Beginning in the first quarter of 2020, the World Health Organization declared the outbreak and spread of the COVID-19 virus a pandemic. The outbreak is disrupting supply chains and impacting production and sales across a wide range of industries. The full economic impact of this pandemic has not been determined, including the impact on the Company’s suppliers, customers and credit markets. Due to the evolving and uncertain nature of COVID-19, it is reasonably possible that it could materially impact the Company’s estimates, particularly those noted above that require consideration of forecasted financial information, in the near to medium term. The ultimate impact will depend on numerous evolving factors that the Company may not be able to accurately predict, including the duration and extent of the pandemic, the impact of federal, state, local and foreign governmental actions, consumer behavior in response to the pandemic and other economic and operational conditions the Company may face. Restricted Cash As of June 30, 2021 and December 31, 2020, restricted cash included approximately $226 and $605, respectively. The restricted cash is legally and contractually restricted as collateral for two letters of credit issued on behalf of CarLotz Group, Inc. and of the reinsurance companies for the payment of claims. Marketable Securities The Company and its reinsurance subsidiaries invest excess cash in marketable securities in the ordinary course of conducting their operations and maintain a portfolio of marketable securities primarily comprised of fixed income debt securities. The Company has investments in marketable securities that are classified as available-for-sale securities and are reported at fair value. Unrealized gains and losses related to changes in the fair value of equity securities are recognized in other income (expense) in the Company’s condensed consolidated statements of operations. Unrealized gains and losses related to changes in the fair value of debt securities are recognized in Accumulated Other Comprehensive Income in the Company’s condensed consolidated balance sheets. Changes in the fair value of available-for-sale debt securities impact the Company’s net income only when such securities are sold or when other-than-temporary impairment is recognized. Realized gains and losses on the sale of securities are determined by specific identification of each security’s cost basis and are recognized on the trade date. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates the designations at each balance sheet date. The Company may sell certain of the Company’s marketable securities prior to their stated maturities for strategic reasons, including, but not limited to, anticipation of credit deterioration and duration management. The Company reviews its debt securities on a regular basis to evaluate whether or not any security has experienced an other-than-temporary decline in fair value. The Company considers factors such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer and the Company’s intent to sell, or whether it is more likely than not the Company will be required to sell the investment before recovery of the investment’s amortized cost basis. If the Company believes that an other-than-temporary decline exists in one of these securities, the Company will write down these investments to fair value through earnings. Capitalized website and internal-use software costs The Company capitalizes costs associated with customized internal-use software systems that have reached the application development stage. Such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees who are directly associated with the applications. Capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and ready for its intended purpose. Amortization is computed using the straight-line method over 3 years. Advertising Costs The Company expenses advertising costs as they are incurred. Advertising costs are included in selling, general and administrative expenses on the accompanying condensed consolidated statements of operations. Advertising expenses were approximately $6,432 and $940 for the six months ended June 30, 2021 and 2020, respectively. Concentration of Credit Risk Concentrations of credit risk with respect to accounts receivables are limited due to the large diversity and number of customers comprising the Company’s customer base. Recently Issued Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . Subsequently, the FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments-Overall. ASU 2016-01 requires equity investments except those under the equity method of accounting to be measured at fair value with the changes in fair value recognized in net income. ASU 2016-01 is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. The Company adopted ASU 2016-01 on January 1, 2019 for annual periods and on January 1, 2020 for interim periods within annual periods. The adoption of ASU 2016-01 did not have a material impact on the Company’s condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The standard will affect all entities that lease assets and will require lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of less than one year) as of the date on which the lessor makes the underlying asset available to the lessee. For lessors, accounting for leases is substantially the same as in prior periods. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, to clarify how to apply certain aspects of the new leases standard. ASU 2016-02, as subsequently amended for various technical issues, is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022, and early adoption is permitted. For leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, lessees and lessors must apply a modified retrospective transition approach. While the Company expects the adoption of this standard to result in an increase to the reported assets and liabilities, it has not yet determined the full impact the adoption of this standard will have on its financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments , which changes the impairment model for most financial assets. The new model uses a forward-looking expected loss method, which will generally result in earlier recognition of allowances for losses. ASU 2016-13, as subsequently amended for various technical issues, is effective for emerging growth companies following private company adoption dates for fiscal years beginning after December 15, 2022 and for interim periods within those fiscal years. The Company is currently evaluating the impact of this standard to its financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years, and early adoption is permitted. An entity is permitted to early adopt either the entire standard or only the provisions that eliminate or modify requirements. The Company adopted ASU 2018-13 on January 1, 2020, and the adoption of this standard did not have a material impact on the condensed consolidated financial statements or related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted ASU 2018-15 on January 1, 2020 for annual periods, and the adoption of this standard did not have a material impact on the condensed consolidated financial statements or related disclosures. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810), Targeted Improvements to Related Party Guidance for Variable Interest Entities , which addresses the cost and complexity of financial reporting associated with consolidation of variable interest entities (“VIE”). The new guidance must be applied on a retrospective basis as a cumulative- effect adjustment as of the date of adoption. The Company adopted ASU 2018-17 on January 1, 2020, and the adoption of this standard did not have a material impact on the consolidated financial statements or related disclosures because the Company does not currently have any indirect interests through related parties under common control for which it receives decision making fees. In December 2020, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022, with early adoption permitted, including adoption in an interim period. The Company is currently evaluating the impact of this standard on its financial statements.

Merger

Merger	6 Months Ended
	Jun. 30, 2021
Reverse Recapitalization [Abstract]
Merger	Merger On the Closing Date, the Company consummated the previously announced merger pursuant to that certain Agreement and Plan of Merger, dated as of October 21, 2020, by and among the Company, Merger Sub and Former CarLotz, as amended by Amendment No. 1, dated December 16, 2020, by and among the Company, Merger Sub and Former CarLotz. Pursuant to the terms of the Merger Agreement, a business combination between the Company and Former CarLotz was effected through the merger of Merger Sub with and into Former CarLotz with Former CarLotz surviving as the surviving company. The Merger is accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, Acamar Partners was treated as the “acquired” company for financial reporting purposes (See Note 1 - Description of the Business). Accordingly, for accounting purposes, the Merger was treated as the equivalent of Former CarLotz issuing stock for the net assets of Acamar Partners, accompanied by a recapitalization. Prior to the Merger, Former CarLotz and Acamar Partners filed separate standalone federal, state and local income tax returns. As a result of the Merger, structured as a reverse acquisition for tax purposes, Acamar Partners was renamed CarLotz, Inc. and became the parent of the consolidated filing group, with Former CarLotz as a subsidiary. Recapitalization Cash - Acamar Partners’ trust and cash $ 309,999 Cash - PIPE 125,000 Less: consideration delivered to existing shareholders of Former CarLotz (62,693) Less: consideration to pay accrued dividends (4,853) Less: transaction costs and advisory fees paid (47,579) Less: payments on cash considerations associated with stock options (2,465) Net contributions from Merger and PIPE financing 317,409 Liabilities relieved: preferred stock obligation 2,832 Liabilities relieved: KAR/AFC note payable 3,625 Liabilities relieved: historic warrant liability 144 Less: earnout shares liability (74,285) Less: Merger warrants liability (39,024) Merger warrants The following is an analysis of the warrants to purchase shares of the Company’s stock deemed acquired as part of the Merger and outstanding during the six months ended June 30, 2021: June 30, 2021 Stock warrants outstanding - Public 10,185,774 Stock warrants outstanding - Private 6,074,310 Stock warrants cancelled — Stock warrants exercised — Stock warrants outstanding 16,260,084 Earnout Shares Former CarLotz equity holders at the closing of the Merger are entitled to receive up to an additional 6,945,732 earnout shares. The earnout shares will be issued to the beneficiaries if certain targets are met in the post-acquisition period. The earnouts for the earnout shares are subject to an earnout period, which is defined as the date 60 months following the consummation of the Merger. The Merger closed on January 21, 2021, and the earnout period expires January 21, 2026. The earnout shares will be issued if any of the following conditions are achieved following January 21, 2021: i. If at any time during the 60 months following the Closing Date(the first business day following the end of such period, the “Forfeiture Date”), the closing trading price of the common stock is greater than $12.50 over any 20 trading days within any 30 trading day period (the “First Threshold”), the Company will issue 50% of the earnout shares. ii. If at any time prior to the Forfeiture Date, the closing trading price of the common stock is greater than $15.00 over any 20 trading days within any 30 trading day period (the “Second Threshold”), the Company will issue 50% of the earnout shares. iii. If either the First Threshold or the Second Threshold is not met on or before the Forfeiture Date, any unissued earnout shares are forfeited. All unissued earnout shares will be issued if there is a change of control of the Company that will result in the holders of the common stock receiving a per share price equal to or in excess of $10.00 (as equitably adjusted for stock splits, stock dividends, special cash dividends, reorganizations, combinations, recapitalizations and similar transactions affecting the common stock) prior to the Forfeiture Date. Before the contingency is met, the earnout shares will be classified as a liability under the FASB’s Accounting Standards Codification (“ASC”) Topic 815, so changes in the fair value of the earnout shares in future periods will be recognized in the statement of operations. The estimated fair value of the liability is determined by using a Monte-Carlo simulation model.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenue The significant majority of the Company’s revenue is derived from contracts with customers related to the sales of vehicles. In the following tables, revenue is disaggregated by major lines of goods and services and timing of transfer of goods and services. The Company has determined that these categories depict how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. The tables below include disaggregated revenue under ASC 606 ( Revenue from Contracts with Customers ): Six Months Ended June 30, 2021 Vehicle Sales Fleet Management Total Retail vehicle sales $ 94,613 $ — $ 94,613 Wholesale vehicle sales 9,228 — 9,228 Finance and insurance, net 3,334 — 3,334 Lease income, net — 205 205 Total Revenues $ 107,175 $ 205 $ 107,380 Six Months Ended June 30, 2020 Vehicle Sales Fleet Management Total Retail vehicle sales $ 44,694 $ — $ 44,694 Wholesale vehicle sales 5,036 — 5,036 Finance and insurance, net 1,787 — 1,787 Lease income, net — 272 272 Total Revenues $ 51,517 $ 272 $ 51,789 The following table summarizes revenues and cost of sales for retail and wholesale vehicle sales for the periods ended: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Retail vehicles: Retail vehicle sales $ 44,230 $ 23,652 $ 94,613 $ 44,694 Retail vehicle cost of sales 41,641 21,991 90,558 41,546 Gross Profit – Retail Vehicles $ 2,589 $ 1,661 $ 4,055 $ 3,148 Wholesale vehicles: Wholesale vehicle sales $ 4,660 $ 1,725 $ 9,228 $ 5,036 Wholesale vehicle cost of sales 4,945 1,679 10,632 5,042 Gross Profit – Wholesale Vehicles $ (285) $ 46 $ (1,404) $ (6) Retail Vehicle Sales The Company sells used vehicles to retail customers through its 15 retail hub locations. The transaction price for used vehicles is a fixed amount as set forth in the customer contract, and the revenue recognized by the Company is inclusive of the agreed upon transaction price and any service fees. Customers frequently trade-in their existing vehicle to apply toward the transaction price of a used vehicle. Trade-in vehicles represent noncash consideration, which the Company measures at estimated fair value of the vehicle received on the trade. The Company satisfies its performance obligation and recognizes revenue for used vehicle sales at a point in time when the title to the vehicle passes to the customer, at which point the customer controls the vehicle. The Company receives payment for used vehicle sales directly from the customer at the time of sale or from third-party financial institutions within a short period of time following the sale if the customer obtains financing. The Company’s exchange policy allows customers to initiate an exchange of a vehicle during the first three days or 500 miles after delivery, whichever comes first. An exchange reserve is immaterial based on the Company’s historical activity. Wholesale Vehicle Sales The Company sells wholesale vehicles primarily through auction as wholesale vehicles often do not meet the Company’s standards for retail vehicle sales. The Company satisfies its performance obligation and recognizes revenue for wholesale vehicle sales when the vehicle is sold at auction or directly to a wholesaler and title to the vehicle passes to the customer. Finance and Insurance, net The Company provides customers with options for financing, insurance and extended warranties. Certain warranties are serviced by a company owned by a major stockholder. All other services are provided by third-party vendors, and the Company has agreements with each of these vendors giving the Company the right to offer such services. When a customer selects a service from these third-party vendors, the Company earns a commission based on the actual price paid or financed. The Company concluded that it is an agent for these transactions because it does not control the products

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Marketable Securities The following table summarizes amortized cost, gross unrealized gains and losses and fair values of the Company’s investments in fixed maturity debt securities as of June 30, 2021 and December 31, 2020: June 30, 2021 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 180 $ 3 $ — $ 183 Corporate bonds 50,546 6 (57) 50,495 Municipal bonds 56,323 7 (15) 56,315 Commercial paper 69,469 — — 69,469 Foreign governments 1,927 — (4) 1,923 Total Fixed Maturity Debt Securities $ 178,445 $ 16 $ (76) $ 178,385 December 31, 2020 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 240 $ 6 $ — $ 246 Corporate bonds 261 5 (1) 265 U.S. states, territories and political subdivisions 141 5 — 146 Total Fixed Maturity Debt Securities $ 642 $ 16 $ (1) $ 657 The amortized cost and fair value of the Company’s fixed maturity debt securities as of June 30, 2021 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value Due in one year or less $ 173,660 $ 173,603 Due after one year through five years 4,537 4,531 Due after five years through ten years 248 251 Total $ 178,445 $ 178,385 The following tables summarize the Company’s gross unrealized losses in fixed maturity securities as of June 30, 2021 and December 31, 2020: June 30, 2021 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 49,253 $ (56) $ 59 $ (1) $ 49,312 $ (57) Municipal bonds 33,813 (15) — — 33,813 (15) Foreign governments 1,922 (4) — — 1,922 (4) Total Fixed Maturity Debt Securities $ 84,988 $ (75) $ 59 $ (1) $ 85,047 $ (76) December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 39 $ (1) $ — $ — $ 39 $ (1) Total Fixed Maturity Debt Securities $ 39 $ (1) $ — $ — $ 39 $ (1) Unrealized losses shown in the tables above are believed to be temporary. Fair value of investments in fixed maturity debt securities change and are based primarily on market rates. As of June 30, 2021, the Company’s fixed maturity portfolio had 3 securities with gross unrealized losses totaling $1 that had been in loss positions in excess of 12 months and 146 securities with gross unrealized losses totaling $75 that had been in loss positions less than 12 months. No single issuer had a gross unrealized loss position greater than $7, or 0.3% of its amortized cost. As of December 31, 2020, the Company’s fixed maturity portfolio had no securities with gross unrealized losses that had been in loss positions in excess of 12 months and 3 securities with gross unrealized losses totaling $1 that had been in loss positions less than 12 months. No single issuer had a gross unrealized loss position greater than $325 (actual), or 1.6% of its amortized cost. The following tables summarize cost and fair values of the Company’s investments in equity securities as of June 30, 2021 and December 31, 2020: June 30, 2021 Cost Fair Value Equity securities $ 432 $ 520 December 31, 2020 Cost Fair Value Equity securities $ 335 $ 375 Proceeds from sales and maturities, gross realized gains, gross realized losses and net realized gains (losses) from sales and maturities of fixed maturity securities for the six months ended June 30, 2021 and 2020 consisted of the following: June 30, 2021 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 128,954 $ 7 $ (2) $ 5 Equity securities — — — — Total Marketable Securities $ 128,954 $ 7 $ (2) $ 5 June 30, 2020 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 15 $ — $ — $ — Equity securities 6 3 — 3 Total Marketable Securities $ 21 $ 3 $ — $ 3

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Items Measured at Fair Value on a Recurring Basis As of June 30, 2021 and December 31, 2020, the Company held certain assets and liabilities that were required to be measured at fair value on a recurring basis. The following tables are summaries of fair value measurements and hierarchy level as of: June 30, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 26 $ — $ — $ 26 Equity securities 520 — — 520 Fixed maturity debt securities, including cash equivalents — 205,043 — 205,043 Total Assets $ 546 $ 205,043 $ — $ 205,589 Liabilities: Merger warrants liability 16,501 9,840 — 26,341 Earnout shares — — 30,228 30,228 Total Liabilities $ 16,501 $ 9,840 $ 30,228 $ 56,569 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 405 $ — $ — $ 405 Equity securities 375 — — 375 Fixed maturity debt securities 246 411 — 657 Total Assets $ 1,026 $ 411 $ — $ 1,437 Liabilities: Redeemable convertible preferred stock tranche obligation $ — $ — $ 2,832 $ 2,832 Historic warrants liability — — 144 144 Total Liabilities $ — $ — $ 2,976 $ 2,976 Money market funds consist of highly liquid investments with original maturities of three months or less and classified in restricted cash in the accompanying condensed consolidated balance sheets. The Company recognizes transfers between the levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers between the levels during the six months ended June 30, 2021 and 2020. The following tables set forth a summary of changes in the estimated fair value of the Company’s Level 3 redeemable convertible preferred stock tranche obligation, historic warrants liability and earnout shares for the six months ended June 30, 2021 and 2020: January 1, Issuances Settlements Change in fair value June 30, Redeemable convertible preferred stock tranche obligation $ 2,832 $ — $ (2,832) $ — $ — Historic warrants liability 144 — (144) — — Earnout shares — 74,284 — (44,056) 30,228 Total $ 2,976 $ 74,284 $ (2,976) $ (44,056) $ 30,228 January 1, Issuances Settlements Change in fair value June 30, Redeemable convertible preferred stock tranche obligation $ 3,755 $ — $ — $ (284) $ 3,471 Historic warrants liability 115 — — (13) 102 Total $ 3,870 $ — $ — $ (297) $ 3,573 The fair value of the earnout shares was estimated by utilizing a Monte-Carlo simulation model. The inputs into the Monte-Carlo pricing model included significant unobservable inputs. The table below summarizes the significant observable inputs used when valuing the earnout shares as of: June 30, 2021 January 21, 2021 Expected volatility 85.00 % 80.00 % Starting stock price $5.46 $11.31 Expected term (in years) 4.6 years 5 years Risk-free interest rate 0.79 % 0.45 % Earnout hurdle $12.50-$15.00 $12.50-$15.00 Fair Value of Financial Instruments Not Measured at Fair Value on a Recurring Basis The carrying amounts of restricted cash, accounts receivable and accounts payable approximate fair value because their respective maturities are less than three months.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net The following table summarizes accounts receivable as of: June 30, December 31, Contracts in transit $ 4,939 $ 3,321 Trade 295 240 Finance commission 244 132 Other — 506 Total 5,478 4,199 Allowance for doubtful accounts (67) (67) Total Accounts Receivable, net $ 5,411 $ 4,132

Inventory and Floor Plan Notes

Inventory and Floor Plan Notes Payable	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventory and Floor Plan Notes Payable	Inventory and Floor Plan Notes Payable The following table summarizes inventory as of: June 30, December 31, Used vehicles $ 47,454 $ 11,202 Parts 15 — Total $ 47,469 $ 11,202 Beginning March 10, 2021, the Company entered into a $30,000 floor plan credit facility, which was expanded to $40,000 in the second quarter, with Ally Financial to finance the acquisition of used vehicle inventory. Concurrently, proceeds from the agreement were used to settle outstanding debt obligations on the Company’s preexisting floor plan facility with AFC. Borrowings under the Ally Financial facility accrue interest at a variable rate based on the most recent prime rate plus 2.50% per annum. The prime rate as of June 30, 2021 was 3.25%. Floor plan notes payable are generally due upon the sale of the related used vehicle inventory.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net The following table summarizes property and equipment as of: June 30, December 31, Capital lease assets $ 7,809 $ 1,305 Leasehold improvements 1,361 702 Furniture, fixtures and equipment 3,649 760 Corporate vehicles 143 143 Total property and equipment 12,962 2,910 Less: accumulated depreciation (1,300) (1,042) Property and Equipment, net $ 11,662 $ 1,868 Depreciation expense for property and equipment was approximately $258 and $101 for the six months ended June 30, 2021 and 2020, respectively.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets The following table summarizes other assets as of: June 30, December 31, Other Current Assets: Lease receivable, net $ 23 $ 36 Deferred acquisition costs 45 72 Prepaid expenses 4,957 679 Interest receivable 1,228 — Deferred transaction costs — 5,892 Total Other Current Assets $ 6,253 $ 6,679 Other Assets: Lease receivable, net $ 16 $ 16 Deferred acquisition costs 64 48 Security deposits 4,310 235 Total Other Assets $ 4,390 $ 299

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt The following table summarizes long-term debt as of: June 30, December 31, Capital lease obligation 7,791 1,305 Promissory note — 2,990 Convertible notes payable, net — 3,325 Paycheck Protection Program loan — 1,749 7,791 9,369 Current portion of long-term debt (212) (6,370) Long-term Debt $ 7,579 $ 2,999 Promissory Note Concurrently with the closing of the Merger on January 21, 2021, the promissory note was extinguished through a cash payment of $3,000. Convertible Notes Payable On December 20, 2019, the Company entered into a note purchase agreement (“NPA”) with AFC. AFC’s parent company was also a common stockholder of Former CarLotz. For each convertible note of $1,000 or portion thereof that AFC purchased, AFC received warrants (historic warrants) constituting 0.20% of Former CarLotz’ fully-diluted common stock. As of December 31, 2020, the Company had a convertible note balance of $3,500. The note accrued interest at 6.00% on a 365-day basis and the outstanding interest payable as of December 31, 2020 was approximately $212. Concurrently with the closing of the Merger on January 21, 2021, the historic warrants and the note were converted to a fixed number of shares pursuant to a conversion agreement with AFC. The convertible notes were extinguished by issuing AFC 347,992 shares of Former CarLotz common stock and the warrants were exercised into 73,869 shares of Former CarLotz common stock. There are no historic warrants outstanding subsequent to the exercise. Payroll Protection Program Loan In April 2020, the Company received a Paycheck Protection Program (“PPP”) loan, a new loan program under the Small Business Administration’s 7(a) program providing loans to qualifying businesses, totaling approximately $1,749. As of December 31, 2020, the Company had an outstanding PPP loan balance of $1,749, which was extinguished concurrently with the closing of the Merger.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The following table summarizes accrued expenses as of: June 30, December 31, License and title fees $ 797 $ 785 Payroll and bonuses 2,200 837 Deferred rent 535 199 Technology 5,007 — Other 4,699 1,742 Total Accrued Expenses $ 13,238 $ 3,563

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities The following table summarizes other liabilities as of: June 30, December 31, Other Liabilities, Current Unearned insurance premiums $ 703 $ 256 Other payables - marketable securities 4,722 — Other Liabilities, Current $ 5,425 $ 256 Other Liabilities Unearned insurance premiums 1,106 1,680 Other long-term liabilities 126 135 Historic warrants liability — 144 Other Liabilities, Long-term $ 1,232 $ 1,959

Lease Commitments

Lease Commitments	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Lease Commitments	Lease CommitmentsThe Company leases its operating facilities from various third parties under non-cancelable operating and capital leases. The leases require various monthly rental payments ranging from approximately $3 to $48, with various ending dates through September 2036. The leases are triple net, whereby the Company is liable for taxes, insurance and repairs. Rent expense for all operating facility leases was approximately $1,599 and $462 for the six months ended June 30, 2021 and 2020, respectively. Most of these leases have escalating rent payments, which are being expensed on a straight-line basis and are included in deferred rent, within Accrued expenses. The following is a table of facility lease commitments due for the next five years, and thereafter, as of June 30, 2021: Total Per Year Total Capital Leases 2021 (remaining) $ 1,719 $ 269 2022 4,298 1,037 2023 4,161 1,048 2024 3,184 1,058 2025 2,976 1,069 Thereafter 9,168 10,643 Total $ 25,506 $ 15,124 Less: amount representing interest (7,333) Present value of minimum lease payments 7,791 Less: current obligation (212) Long-term obligations under capital lease $ 7,579 The Company also leases vehicles from a third party under noncancelable operating leases and leases these same vehicles to end customers with similar lease terms, with the exception of the interest rate. The leases require various monthly rental payments from the Company ranging from $291 to $1,770 (actual) with various ending dates through June 2025. The following is a schedule of the approximate future minimum lease payments due to third parties and the related expected future receipts related to these lease vehicles as of June 30, 2021: Payments Due to Third-Parties Future Receipts 2021 (remaining) $ 964 $ 1,164 2022 1,713 2,048 2023 1,089 1,286 2024 664 779 2025 293 340 Total $ 4,723 $ 5,617
Lease Commitments	Lease CommitmentsThe Company leases its operating facilities from various third parties under non-cancelable operating and capital leases. The leases require various monthly rental payments ranging from approximately $3 to $48, with various ending dates through September 2036. The leases are triple net, whereby the Company is liable for taxes, insurance and repairs. Rent expense for all operating facility leases was approximately $1,599 and $462 for the six months ended June 30, 2021 and 2020, respectively. Most of these leases have escalating rent payments, which are being expensed on a straight-line basis and are included in deferred rent, within Accrued expenses. The following is a table of facility lease commitments due for the next five years, and thereafter, as of June 30, 2021: Total Per Year Total Capital Leases 2021 (remaining) $ 1,719 $ 269 2022 4,298 1,037 2023 4,161 1,048 2024 3,184 1,058 2025 2,976 1,069 Thereafter 9,168 10,643 Total $ 25,506 $ 15,124 Less: amount representing interest (7,333) Present value of minimum lease payments 7,791 Less: current obligation (212) Long-term obligations under capital lease $ 7,579 The Company also leases vehicles from a third party under noncancelable operating leases and leases these same vehicles to end customers with similar lease terms, with the exception of the interest rate. The leases require various monthly rental payments from the Company ranging from $291 to $1,770 (actual) with various ending dates through June 2025. The following is a schedule of the approximate future minimum lease payments due to third parties and the related expected future receipts related to these lease vehicles as of June 30, 2021: Payments Due to Third-Parties Future Receipts 2021 (remaining) $ 964 $ 1,164 2022 1,713 2,048 2023 1,089 1,286 2024 664 779 2025 293 340 Total $ 4,723 $ 5,617

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company sells retail installment contracts to financial institutions without recourse. Some buyers of the contracts retain portions of the finance commissions as reserves against early payoffs. The Company is subject to chargebacks against such income in the event of a cancellation or early payoff. The Company’s facilities are subject to federal, state and local provisions regulating the discharge of materials into the environment. Compliance with these provisions has not had, nor does the Company expect such compliance to have, any material effect upon the capital expenditures, net income, financial condition or competitive position of the Company. Management believes that its current practices and procedures for the control and disposition of such materials comply with the applicable federal and state requirements. Legal Matters On July 8, 2021, purported CarLotz stockholder Daniel Erdman, individually and on behalf of others similarly situated, filed a putative class action complaint in the United States District Court for the Southern District of New York, alleging that CarLotz and certain of its executive officers made various false and misleading statements or omissions about the Company’s business, operations, financial performance and prospects in violation of Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5, promulgated thereunder. See Daniel Erdman v. CarLotz, Inc., et al., Case No. 1:21-cv-05906-RA . The action is stated to be brought on behalf of purchasers of the stock of Acamar Partners Acquisition Corp. and CarLotz during the period from December 30, 2020 to May 25, 2021. The action seeks to recover unspecified compensatory damages allegedly caused by the defendants’ purported violations of the federal securities laws, plus interest and costs and expenses. On July 20, 2021, purported CarLotz stockholder Michael Widuck, individually and on behalf of others similarly situated, filed a putative class action complaint in the United States District Court for the Southern District of New York, alleging that CarLotz and certain of its executive officers made various false and misleading statements or omissions about the Company’s business, operations, financial performance and prospects in violation of Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5, promulgated thereunder. See Michael Widuck v. CarLotz, Inc., et al., Case No. 1:21-cv-06191-RA . The action is stated to be brought on behalf of purchasers of the stock of Acamar Partners Acquisition Corp. and CarLotz during the period from December 30, 2020 to May 25, 2021. The action seeks to recover unspecified compensatory damages allegedly caused by the defendants’ purported violations of the federal securities laws, plus interest and costs and expenses. On August 5, 2021, purported CarLotz stockholder Michael Turk, individually and on behalf of others similarly situated, filed a putative class action complaint in the United States District Court for the Southern District of New York, alleging that CarLotz and certain of its executive officers made various false and misleading statements or omissions about the Company’s business, operations, financial performance and prospects in violation of Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5, promulgated thereunder. See Michael Turk v. CarLotz, Inc., et al., Case No. 1:21-cv-06627-RA . The action is stated to be brought on behalf of purchasers of the stock of Acamar Partners Acquisition Corp. and CarLotz during the period from December 30, 2020 to May 25, 2021. The action seeks to recover unspecified compensatory damages allegedly caused by the defendants’ purported violations of the federal securities laws, plus interest and costs and expenses. In addition to the matters above, the Company is involved in certain legal matters that it considers incidental to its business. In management’s opinion, none of these legal matters will have a material effect on the Company’s financial position or results of operations.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2021
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred StockAs of December 31, 2020, the Amended and Restated Certificate of Incorporation of Former CarLotz provided for two classes of ownership: common stock and Series A Preferred Stock. The holder of the Series A Preferred Stock received distribution priority in order of 1.5 times the sum of any unpaid returns and unreturned capital contributions. Preferred returns were calculated at an 8.00% annual rate. Unpaid cumulative distributions were approximately $4,800 as of December 31, 2020, and the Series A Preferred Stock had a liquidation preference of $37,114 as of December 31, 2020. Upon liquidation of Former CarLotz, proceeds in excess of the Series A Preferred Stock would have been shared pro rata among all stockholders based on the number of shares. The unpaid cumulative distributions are included as Accrued expenses — related party on the accompanying condensed consolidated balance sheets. As a result of the Merger, the Company settled Former CarLotz’ redeemable convertible preferred stock and redeemable convertible preferred stock tranche obligation with carrying values of $17,560 and $2,832, respectively, as of December 31, 2020.

Stock-Based Compensation Plan

Stock-Based Compensation Plan	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plan	Stock-Based Compensation Plan Stock Option Plans The Company has three stock incentive plans, the “2011 Stock Option Plan,” the “2017 Stock Option Plan” and the “2020 Incentive Award Plan,” to promote the long-term growth and profitability of the Company. The plans do this by providing senior management and other employees with incentive to improve shareholder value and contribute to the growth and financial success of the Company by granting equity instruments to these stakeholders. Share-based compensation expense was recorded for the six months ended June 30, 2021 and 2020 of approximately $45,667 and $37, respectively. The Company estimates the fair value of stock options using the Black-Scholes pricing model. The Black-Scholes pricing model requires the use of subjective inputs such as stock price volatility. Changes in the inputs can materially affect the fair value estimates and ultimately the amount of stock-based compensation expense that is recognized. During the six months ended June 30, 2021 and 2020, there were no grants related to the 2011 Stock Option Plan. A summary of activity for the six months ended June 30, 2021 and 2020 for the 2011 Stock Option Plan is as follows: Number of Weighted Average Exercise Price Balance (December 31, 2020) 1,571,205 $0.59 Granted — — Exercised (56,059) 0.24 Forfeited — — Balance (June 30, 2021) 1,515,146 0.58 Vested (as of June 30, 2021) 1,515,146 $0.58 Number of Weighted Average Exercise Price Balance (December 31, 2019) 1,571,205 $0.59 Granted — — Forfeited — — Balance (June 30, 2020) 1,571,205 0.59 Vested (as of June 30, 2020) 1,482,528 $0.59 The following summarizes certain information about stock options vested and expected to vest as of June 30, 2021 related to the 2011 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 1,515,146 1.17 years $0.58 Exercisable 1,515,146 1.17 years $0.58 Aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the option exercise price and the estimated fair value of the Company’s common stock at the time such option exercises. This intrinsic value changes based on changes in the fair value of the Company’s underlying common stock. The aggregate intrinsic value for options outstanding and options exercisable as of June 30, 2021 and December 31, 2020 was $4.88. The terms of the 2017 Stock Option Plan provide for vesting upon certain market and performance conditions, including achieving certain triggering events, including specified levels of return on investment upon a sale of the Company. Because the 2017 Stock Option Plan has a market-based vesting condition, an open-form valuation model was used to value the options. All stock options related to the 2017 Stock Option Plan have an exercise price of $0.92 per share. All stock options related to the 2017 Stock Option Plan expire 10 years after the grant date, which ranges from March 2028 to October 2029. A summary of activity for the six months ended June 30, 2021 and 2020 for the 2017 Stock Option Plan is as follows: Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) 3,961,658 $ 0.92 Granted — — Forfeited — — Balance (June 30, 2021) 3,961,658 $ 0.92 Vested (as of June 30, 2021) 3,538,672 $ 0.92 Number of Units Weighted Averaged Exercise Price Balance (December 31, 2019) 2,845,557 $ 0.96 Granted 509,635 0.96 Forfeited — — Balance (June 30, 2020) 3,355,192 $ 0.96 The 2017 options vest upon a change of control. Although the Merger did not meet the definition of a change of control, the Company modified the awards in connection with the Merger such that all vesting conditions were waived for 3,538,672 of the options. This modification impacted 8 employees and resulted in $38,800 of share-based compensation on the modification date. The remaining options were also modified but will vest over a service period of four years and impacted 16 employees. These options resulted in $186 of cash consideration and $4,462 of share based compensation that will be recognized over the service period of four years. For the six months ended June 30, 2021, $493 of share-based compensation was recognized. The following summarizes certain information about stock options vested and expected to vest as of June 30, 2021 related to the 2017 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 3,961,658 8.06 years $0.92 Exercisable 3,538,672 7.93 years $0.92 The aggregate intrinsic value for options outstanding and options exercisable as of June 30, 2021 and December 31, 2020 was $4.51. The inputs used for the 2017 Stock Option Plan were as follows: Balance (Expected volatility) 80.00 % Expected dividend yield — % Expected term (in years) 3.6 - 4.8 years Risk-free interest rate 0.32% - 0.45% The options associated with the 2020 Incentive Award Plan vest over a service period of four years. A summary of activity for the six months ended June 30, 2021 for the options associated with the 2020 Incentive Award Plan is as follows: Balance (Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) — $ — Granted 1,426,514 11.34 Forfeited — — Balance (June 30, 2021) 1,426,514 $ 11.34 Exercisable — $ — The grant date fair value of the options was between $6.70 to $7.77. For the six months ended June 30, 2021, $1,222 of share based compensation was recognized. As of June 30, 2021, there was approximately $9,845 of total unrecognized compensation cost related to unvested options related to the 2020 Stock Incentive Award Plan. The inputs used for the 2020 Incentive Award Plan options were as follows for the six months ended June 30, 2021: Balance (Expected volatility) 80.00 % Expected dividend yield — % Expected term (in years) 6.25 years Risk-free interest rate 0.62% - 0.79% The restricted shares associated with the 2020 Incentive Award Plan vest over a service period. A summary of activity for the six months ended June 30, 2021 for the restricted shares associated with the 2020 Incentive Award Plan is as follows: Balance (Number of Units Weighted Average Grant Date Fair Value Balance (December 31, 2020) — $ — Granted 616,224 5.97 Vested — — Forfeited (1,044) — Balance (June 30, 2021) 615,180 $ 5.97 The grant date fair value of the restricted shares was $5.97. For the six months ended June 30, 2021, $417 of share based compensation cost was recognized. As of June 30, 2021, there was approximately $2,306 of unrecognized compensation cost that vests over a service period of four years and $949 of unrecognized compensation cost that vests over a service period of one Earnout Restricted Stock Units Former CarLotz option holders as of the effective time of the Merger received 640,421 earnout restricted stock units (Earnout RSUs). The Earnout RSUs vest if certain targets are met in the post-Merger period. The earnouts for the Earnout RSUs are subject to an earnout period, which is defined as the date 60 months following the consummation of the Merger. The Merger closed on January 21, 2021, and the earnout period expires January 21, 2026. Earnout RSUs will vest if any of the following conditions are achieved following January 21, 2021: i. If at any time during the 60 months following the Closing Date (the first business day following the end of such period, the “Forfeiture Date”), the closing trading price of the common stock is greater than $12.50 over any 20 trading days within any 30 trading day period (the “First Threshold”), 50% of the Earnout RSUs will vest. ii. If at any time prior to the Forfeiture Date, the closing trading price of the common stock is greater than $15.00 over any 20 trading days within any 30 trading day period (the “Second Threshold”), 50% of the Earnout RSUs will vest. iii. If either the First Threshold or the Second Threshold is not met on or before the Forfeiture Date, any unvested Earnout RSUs are forfeited. All unvested Earnout RSUs will vest if there is a change of control of the Company that will result in the holders of the common stock receiving a per share price equal to or in excess of $10.00 (as equitably adjusted for stock splits, stock dividends, special cash dividends, reorganizations, combinations, recapitalizations and similar transactions affecting the common stock) prior to the Forfeiture Date. The estimated fair value of the liability is determined by using a Monte-Carlo simulation model, which incorporates various assumptions, including expected stock price volatility, contractual term, dividend yield and stock price at grant date. The Company estimates the volatility of common stock on the date of grant based on the weighted-average historical stock price volatility of comparable publicly-traded companies. A summary of activity for the six months ended June 30, 2021 for the RSUs is as follows: Number of Units Weighted Average grant date fair value Balance (December 31, 2020) — $ — Granted 640,421 10.70 Forfeited — — Balance (June 30, 2021) 640,421 $ 10.70 During the six months ended June 30, 2021, the Company recognized $4,065 of stock-based compensation cost. As of June 30, 2021, there was approximately $2,785 of total unrecognized compensation cost related to the RSUs that will be recognized during 2021. The inputs used to value the Earnout RSUs were as follows at January 21, 2021: Expected volatility 80.00 % Starting stock price $ 11.31 Expected term (in years) 5 years Risk-free interest rate 0.45 % Earnout hurdle $12.50-$15.00

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the six months ended June 30, 2021, the Company recorded no income tax benefits for the net operating losses incurred in the period due to its uncertainty of realizing a benefit from those items. All of the Company’s operating losses since inception have been generated in the United States. The Company has evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets. Management has considered the Company’s history of cumulative net losses incurred since inception through June 30, 2021 and has concluded that it is more likely than not that the Company will not realize the benefits of the deferred tax assets.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Net Loss $ (7,205) $ (213) $ (22,227) $ (1,720) Denominator: Weighted average common shares outstanding, basic and diluted 113,670,060 58,621,041 107,279,227 58,621,041 Net Loss per Share Attributable to Common Stockholders, basic and diluted $ (0.06) $ 0.00 $ (0.21) $ (0.03) The following table summarizes the outstanding potentially dilutive securities that were excluded from the computation of diluted net loss per share attributable to common stockholders because the impact of including them would have been antidilutive for the three and six months ended June 30, 2021 and 2020: 2021 2020 Public warrants 10,185,774 — Private warrants 6,074,310 — Earnout RSUs 640,421 — Earnout shares 6,945,732 — Convertible notes payable — 3,452,002 Historic warrants — 776,143 Stock options outstanding to purchase shares of common stock 6,903,318 4,926,397 Unvested RSUs 615,180 — Total 31,364,735 9,154,542

Concentrations

Concentrations	6 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
Concentrations	Concentrations In mid-May 2021, the corporate vehicle sourcing partner that accounted for 10% or more of the Company’s total purchases informed the Company that it would be pausing its consignment of vehicles to the Company, with immediate effect, due to the current strength of the wholesale market for vehicles. The corporate vehicle sourcing partner that paused its consignments represented 32% of the vehicles the Company sold for the three months ended June 30, 2021 and 48% of the vehicles the Company sold for the six months ended June 30, 2021. The Company primarily replaced the supply by sourcing vehicles at auction as well as some increased supply from other vehicle sourcing partners. For the periods ended June 30, 2021 and 2020, no retail or wholesale customers accounted for more than 10% of the Company’s revenue.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn preparing these condensed consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through August 9, 2021, the date the financial statements were available to be issued.Additional Hub LocationsSubsequent to the quarter ended June 30, 2021, CarLotz expanded into one new location with a hub opening in Denver, Colorado. The Denver hub is CarLotz’ first location in the state of Colorado and sixteenth location overall.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in management’s opinion, include all adjustments, which consist of only normal recurring adjustments, necessary for the fair statement of the Company’s condensed consolidated balance sheet as of June 30, 2021 and its results of operations for the six months ended June 30, 2021 and 2020. The results for the six months ended June 30, 2021 are not necessarily indicative of the results expected for the current fiscal year or any other future periods.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities.
Restricted Cash	Restricted Cash As of June 30, 2021 and December 31, 2020, restricted cash included approximately $226 and $605, respectively. The restricted cash is legally and contractually restricted as collateral for two letters of credit issued on behalf of CarLotz Group, Inc. and of the reinsurance companies for the payment of claims.
Marketable Securities	Marketable Securities The Company and its reinsurance subsidiaries invest excess cash in marketable securities in the ordinary course of conducting their operations and maintain a portfolio of marketable securities primarily comprised of fixed income debt securities. The Company has investments in marketable securities that are classified as available-for-sale securities and are reported at fair value. Unrealized gains and losses related to changes in the fair value of equity securities are recognized in other income (expense) in the Company’s condensed consolidated statements of operations. Unrealized gains and losses related to changes in the fair value of debt securities are recognized in Accumulated Other Comprehensive Income in the Company’s condensed consolidated balance sheets. Changes in the fair value of available-for-sale debt securities impact the Company’s net income only when such securities are sold or when other-than-temporary impairment is recognized. Realized gains and losses on the sale of securities are determined by specific identification of each security’s cost basis and are recognized on the trade date.
Capitalized Website and Internal Use Software Cost	Capitalized website and internal-use software costs The Company capitalizes costs associated with customized internal-use software systems that have reached the application development stage. Such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees who are directly associated with the applications. Capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and ready for its intended purpose. Amortization is computed using the straight-line method over 3 years.
Advertising Cost	Advertising CostsThe Company expenses advertising costs as they are incurred. Advertising costs are included in selling, general and administrative expenses on the accompanying condensed consolidated statements of operations.
Concentration of Credit Risk	Concentration of Credit Risk Concentrations of credit risk with respect to accounts receivables are limited due to the large diversity and number of customers comprising the Company’s customer base.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . Subsequently, the FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments-Overall. ASU 2016-01 requires equity investments except those under the equity method of accounting to be measured at fair value with the changes in fair value recognized in net income. ASU 2016-01 is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. The Company adopted ASU 2016-01 on January 1, 2019 for annual periods and on January 1, 2020 for interim periods within annual periods. The adoption of ASU 2016-01 did not have a material impact on the Company’s condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The standard will affect all entities that lease assets and will require lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of less than one year) as of the date on which the lessor makes the underlying asset available to the lessee. For lessors, accounting for leases is substantially the same as in prior periods. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, to clarify how to apply certain aspects of the new leases standard. ASU 2016-02, as subsequently amended for various technical issues, is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022, and early adoption is permitted. For leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, lessees and lessors must apply a modified retrospective transition approach. While the Company expects the adoption of this standard to result in an increase to the reported assets and liabilities, it has not yet determined the full impact the adoption of this standard will have on its financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments , which changes the impairment model for most financial assets. The new model uses a forward-looking expected loss method, which will generally result in earlier recognition of allowances for losses. ASU 2016-13, as subsequently amended for various technical issues, is effective for emerging growth companies following private company adoption dates for fiscal years beginning after December 15, 2022 and for interim periods within those fiscal years. The Company is currently evaluating the impact of this standard to its financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years, and early adoption is permitted. An entity is permitted to early adopt either the entire standard or only the provisions that eliminate or modify requirements. The Company adopted ASU 2018-13 on January 1, 2020, and the adoption of this standard did not have a material impact on the condensed consolidated financial statements or related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted ASU 2018-15 on January 1, 2020 for annual periods, and the adoption of this standard did not have a material impact on the condensed consolidated financial statements or related disclosures. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810), Targeted Improvements to Related Party Guidance for Variable Interest Entities , which addresses the cost and complexity of financial reporting associated with consolidation of variable interest entities (“VIE”). The new guidance must be applied on a retrospective basis as a cumulative- effect adjustment as of the date of adoption. The Company adopted ASU 2018-17 on January 1, 2020, and the adoption of this standard did not have a material impact on the consolidated financial statements or related disclosures because the Company does not currently have any indirect interests through related parties under common control for which it receives decision making fees. In December 2020, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022, with early adoption permitted, including adoption in an interim period. The Company is currently evaluating the impact of this standard on its financial statements.
Revenue	Retail Vehicle Sales The Company sells used vehicles to retail customers through its 15 retail hub locations. The transaction price for used vehicles is a fixed amount as set forth in the customer contract, and the revenue recognized by the Company is inclusive of the agreed upon transaction price and any service fees. Customers frequently trade-in their existing vehicle to apply toward the transaction price of a used vehicle. Trade-in vehicles represent noncash consideration, which the Company measures at estimated fair value of the vehicle received on the trade. The Company satisfies its performance obligation and recognizes revenue for used vehicle sales at a point in time when the title to the vehicle passes to the customer, at which point the customer controls the vehicle. The Company receives payment for used vehicle sales directly from the customer at the time of sale or from third-party financial institutions within a short period of time following the sale if the customer obtains financing. The Company’s exchange policy allows customers to initiate an exchange of a vehicle during the first three days or 500 miles after delivery, whichever comes first. An exchange reserve is immaterial based on the Company’s historical activity. Wholesale Vehicle Sales The Company sells wholesale vehicles primarily through auction as wholesale vehicles often do not meet the Company’s standards for retail vehicle sales. The Company satisfies its performance obligation and recognizes revenue for wholesale vehicle sales when the vehicle is sold at auction or directly to a wholesaler and title to the vehicle passes to the customer. Finance and Insurance, net The Company provides customers with options for financing, insurance and extended warranties. Certain warranties are serviced by a company owned by a major stockholder. All other services are provided by third-party vendors, and the Company has agreements with each of these vendors giving the Company the right to offer such services. When a customer selects a service from these third-party vendors, the Company earns a commission based on the actual price paid or financed. The Company concluded that it is an agent for these transactions because it does not control the products

Merger (Tables)

Merger (Tables)	6 Months Ended
	Jun. 30, 2021
Reverse Recapitalization [Abstract]
Schedule of Reverse Recapitalization	Recapitalization Cash - Acamar Partners’ trust and cash $ 309,999 Cash - PIPE 125,000 Less: consideration delivered to existing shareholders of Former CarLotz (62,693) Less: consideration to pay accrued dividends (4,853) Less: transaction costs and advisory fees paid (47,579) Less: payments on cash considerations associated with stock options (2,465) Net contributions from Merger and PIPE financing 317,409 Liabilities relieved: preferred stock obligation 2,832 Liabilities relieved: KAR/AFC note payable 3,625 Liabilities relieved: historic warrant liability 144 Less: earnout shares liability (74,285) Less: Merger warrants liability (39,024)
Analysis of the Merger Warrants to Purchase Shares of the Company's Stock Acquired as Part of the Merger	The following is an analysis of the warrants to purchase shares of the Company’s stock deemed acquired as part of the Merger and outstanding during the six months ended June 30, 2021: June 30, 2021 Stock warrants outstanding - Public 10,185,774 Stock warrants outstanding - Private 6,074,310 Stock warrants cancelled — Stock warrants exercised — Stock warrants outstanding 16,260,084

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The tables below include disaggregated revenue under ASC 606 ( Revenue from Contracts with Customers ): Six Months Ended June 30, 2021 Vehicle Sales Fleet Management Total Retail vehicle sales $ 94,613 $ — $ 94,613 Wholesale vehicle sales 9,228 — 9,228 Finance and insurance, net 3,334 — 3,334 Lease income, net — 205 205 Total Revenues $ 107,175 $ 205 $ 107,380 Six Months Ended June 30, 2020 Vehicle Sales Fleet Management Total Retail vehicle sales $ 44,694 $ — $ 44,694 Wholesale vehicle sales 5,036 — 5,036 Finance and insurance, net 1,787 — 1,787 Lease income, net — 272 272 Total Revenues $ 51,517 $ 272 $ 51,789
Revenue from External Customers by Products and Services	The following table summarizes revenues and cost of sales for retail and wholesale vehicle sales for the periods ended: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Retail vehicles: Retail vehicle sales $ 44,230 $ 23,652 $ 94,613 $ 44,694 Retail vehicle cost of sales 41,641 21,991 90,558 41,546 Gross Profit – Retail Vehicles $ 2,589 $ 1,661 $ 4,055 $ 3,148 Wholesale vehicles: Wholesale vehicle sales $ 4,660 $ 1,725 $ 9,228 $ 5,036 Wholesale vehicle cost of sales 4,945 1,679 10,632 5,042 Gross Profit – Wholesale Vehicles $ (285) $ 46 $ (1,404) $ (6)

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-sale	The following table summarizes amortized cost, gross unrealized gains and losses and fair values of the Company’s investments in fixed maturity debt securities as of June 30, 2021 and December 31, 2020: June 30, 2021 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 180 $ 3 $ — $ 183 Corporate bonds 50,546 6 (57) 50,495 Municipal bonds 56,323 7 (15) 56,315 Commercial paper 69,469 — — 69,469 Foreign governments 1,927 — (4) 1,923 Total Fixed Maturity Debt Securities $ 178,445 $ 16 $ (76) $ 178,385 December 31, 2020 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 240 $ 6 $ — $ 246 Corporate bonds 261 5 (1) 265 U.S. states, territories and political subdivisions 141 5 — 146 Total Fixed Maturity Debt Securities $ 642 $ 16 $ (1) $ 657
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of the Company’s fixed maturity debt securities as of June 30, 2021 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value Due in one year or less $ 173,660 $ 173,603 Due after one year through five years 4,537 4,531 Due after five years through ten years 248 251 Total $ 178,445 $ 178,385
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The following tables summarize the Company’s gross unrealized losses in fixed maturity securities as of June 30, 2021 and December 31, 2020: June 30, 2021 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 49,253 $ (56) $ 59 $ (1) $ 49,312 $ (57) Municipal bonds 33,813 (15) — — 33,813 (15) Foreign governments 1,922 (4) — — 1,922 (4) Total Fixed Maturity Debt Securities $ 84,988 $ (75) $ 59 $ (1) $ 85,047 $ (76) December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 39 $ (1) $ — $ — $ 39 $ (1) Total Fixed Maturity Debt Securities $ 39 $ (1) $ — $ — $ 39 $ (1)
Summary of Cost and Estimated Fair Values of Equity Securities	The following tables summarize cost and fair values of the Company’s investments in equity securities as of June 30, 2021 and December 31, 2020: June 30, 2021 Cost Fair Value Equity securities $ 432 $ 520 December 31, 2020 Cost Fair Value Equity securities $ 335 $ 375
Gain (Loss) on Securities	Proceeds from sales and maturities, gross realized gains, gross realized losses and net realized gains (losses) from sales and maturities of fixed maturity securities for the six months ended June 30, 2021 and 2020 consisted of the following: June 30, 2021 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 128,954 $ 7 $ (2) $ 5 Equity securities — — — — Total Marketable Securities $ 128,954 $ 7 $ (2) $ 5 June 30, 2020 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 15 $ — $ — $ — Equity securities 6 3 — 3 Total Marketable Securities $ 21 $ 3 $ — $ 3

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables are summaries of fair value measurements and hierarchy level as of: June 30, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 26 $ — $ — $ 26 Equity securities 520 — — 520 Fixed maturity debt securities, including cash equivalents — 205,043 — 205,043 Total Assets $ 546 $ 205,043 $ — $ 205,589 Liabilities: Merger warrants liability 16,501 9,840 — 26,341 Earnout shares — — 30,228 30,228 Total Liabilities $ 16,501 $ 9,840 $ 30,228 $ 56,569 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 405 $ — $ — $ 405 Equity securities 375 — — 375 Fixed maturity debt securities 246 411 — 657 Total Assets $ 1,026 $ 411 $ — $ 1,437 Liabilities: Redeemable convertible preferred stock tranche obligation $ — $ — $ 2,832 $ 2,832 Historic warrants liability — — 144 144 Total Liabilities $ — $ — $ 2,976 $ 2,976
Schedule of Reconciliation of the Redeemable Convertible Preferred Stock and Warrant Liability	The following tables set forth a summary of changes in the estimated fair value of the Company’s Level 3 redeemable convertible preferred stock tranche obligation, historic warrants liability and earnout shares for the six months ended June 30, 2021 and 2020: January 1, Issuances Settlements Change in fair value June 30, Redeemable convertible preferred stock tranche obligation $ 2,832 $ — $ (2,832) $ — $ — Historic warrants liability 144 — (144) — — Earnout shares — 74,284 — (44,056) 30,228 Total $ 2,976 $ 74,284 $ (2,976) $ (44,056) $ 30,228 January 1, Issuances Settlements Change in fair value June 30, Redeemable convertible preferred stock tranche obligation $ 3,755 $ — $ — $ (284) $ 3,471 Historic warrants liability 115 — — (13) 102 Total $ 3,870 $ — $ — $ (297) $ 3,573
Schedule of Significant Inputs Used	The table below summarizes the significant observable inputs used when valuing the earnout shares as of: June 30, 2021 January 21, 2021 Expected volatility 85.00 % 80.00 % Starting stock price $5.46 $11.31 Expected term (in years) 4.6 years 5 years Risk-free interest rate 0.79 % 0.45 % Earnout hurdle $12.50-$15.00 $12.50-$15.00

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table summarizes accounts receivable as of: June 30, December 31, Contracts in transit $ 4,939 $ 3,321 Trade 295 240 Finance commission 244 132 Other — 506 Total 5,478 4,199 Allowance for doubtful accounts (67) (67) Total Accounts Receivable, net $ 5,411 $ 4,132

Inventory and Floor Plan Note_2

Inventory and Floor Plan Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table summarizes inventory as of: June 30, December 31, Used vehicles $ 47,454 $ 11,202 Parts 15 — Total $ 47,469 $ 11,202

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The following table summarizes property and equipment as of: June 30, December 31, Capital lease assets $ 7,809 $ 1,305 Leasehold improvements 1,361 702 Furniture, fixtures and equipment 3,649 760 Corporate vehicles 143 143 Total property and equipment 12,962 2,910 Less: accumulated depreciation (1,300) (1,042) Property and Equipment, net $ 11,662 $ 1,868

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	The following table summarizes other assets as of: June 30, December 31, Other Current Assets: Lease receivable, net $ 23 $ 36 Deferred acquisition costs 45 72 Prepaid expenses 4,957 679 Interest receivable 1,228 — Deferred transaction costs — 5,892 Total Other Current Assets $ 6,253 $ 6,679 Other Assets: Lease receivable, net $ 16 $ 16 Deferred acquisition costs 64 48 Security deposits 4,310 235 Total Other Assets $ 4,390 $ 299

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes long-term debt as of: June 30, December 31, Capital lease obligation 7,791 1,305 Promissory note — 2,990 Convertible notes payable, net — 3,325 Paycheck Protection Program loan — 1,749 7,791 9,369 Current portion of long-term debt (212) (6,370) Long-term Debt $ 7,579 $ 2,999

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The following table summarizes accrued expenses as of: June 30, December 31, License and title fees $ 797 $ 785 Payroll and bonuses 2,200 837 Deferred rent 535 199 Technology 5,007 — Other 4,699 1,742 Total Accrued Expenses $ 13,238 $ 3,563

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Other Liabilities	The following table summarizes other liabilities as of: June 30, December 31, Other Liabilities, Current Unearned insurance premiums $ 703 $ 256 Other payables - marketable securities 4,722 — Other Liabilities, Current $ 5,425 $ 256 Other Liabilities Unearned insurance premiums 1,106 1,680 Other long-term liabilities 126 135 Historic warrants liability — 144 Other Liabilities, Long-term $ 1,232 $ 1,959

Lease Commitments (Tables)

Lease Commitments (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Future Minimum Lease Payments for Capital Leases	The following is a table of facility lease commitments due for the next five years, and thereafter, as of June 30, 2021: Total Per Year Total Capital Leases 2021 (remaining) $ 1,719 $ 269 2022 4,298 1,037 2023 4,161 1,048 2024 3,184 1,058 2025 2,976 1,069 Thereafter 9,168 10,643 Total $ 25,506 $ 15,124 Less: amount representing interest (7,333) Present value of minimum lease payments 7,791 Less: current obligation (212) Long-term obligations under capital lease $ 7,579
Schedule of Future Minimum Rental Payments for Operating Leases	The following is a schedule of the approximate future minimum lease payments due to third parties and the related expected future receipts related to these lease vehicles as of June 30, 2021: Payments Due to Third-Parties Future Receipts 2021 (remaining) $ 964 $ 1,164 2022 1,713 2,048 2023 1,089 1,286 2024 664 779 2025 293 340 Total $ 4,723 $ 5,617

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Plan Activity	A summary of activity for the six months ended June 30, 2021 and 2020 for the 2011 Stock Option Plan is as follows: Number of Weighted Average Exercise Price Balance (December 31, 2020) 1,571,205 $0.59 Granted — — Exercised (56,059) 0.24 Forfeited — — Balance (June 30, 2021) 1,515,146 0.58 Vested (as of June 30, 2021) 1,515,146 $0.58 Number of Weighted Average Exercise Price Balance (December 31, 2019) 1,571,205 $0.59 Granted — — Forfeited — — Balance (June 30, 2020) 1,571,205 0.59 Vested (as of June 30, 2020) 1,482,528 $0.59 The following summarizes certain information about stock options vested and expected to vest as of June 30, 2021 related to the 2011 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 1,515,146 1.17 years $0.58 Exercisable 1,515,146 1.17 years $0.58 A summary of activity for the six months ended June 30, 2021 and 2020 for the 2017 Stock Option Plan is as follows: Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) 3,961,658 $ 0.92 Granted — — Forfeited — — Balance (June 30, 2021) 3,961,658 $ 0.92 Vested (as of June 30, 2021) 3,538,672 $ 0.92 Number of Units Weighted Averaged Exercise Price Balance (December 31, 2019) 2,845,557 $ 0.96 Granted 509,635 0.96 Forfeited — — Balance (June 30, 2020) 3,355,192 $ 0.96 Balance (Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) — $ — Granted 1,426,514 11.34 Forfeited — — Balance (June 30, 2021) 1,426,514 $ 11.34 Exercisable — $ —
Summary of Options Vested and Expected to Vest	The following summarizes certain information about stock options vested and expected to vest as of June 30, 2021 related to the 2017 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 3,961,658 8.06 years $0.92 Exercisable 3,538,672 7.93 years $0.92
Schedule of Inputs Used	The inputs used for the 2017 Stock Option Plan were as follows: Balance (Expected volatility) 80.00 % Expected dividend yield — % Expected term (in years) 3.6 - 4.8 years Risk-free interest rate 0.32% - 0.45% The inputs used for the 2020 Incentive Award Plan options were as follows for the six months ended June 30, 2021: Balance (Expected volatility) 80.00 % Expected dividend yield — % Expected term (in years) 6.25 years Risk-free interest rate 0.62% - 0.79% The inputs used to value the Earnout RSUs were as follows at January 21, 2021: Expected volatility 80.00 % Starting stock price $ 11.31 Expected term (in years) 5 years Risk-free interest rate 0.45 % Earnout hurdle $12.50-$15.00
Summary of Restricted Stock Unit Activity	A summary of activity for the six months ended June 30, 2021 for the restricted shares associated with the 2020 Incentive Award Plan is as follows: Balance (Number of Units Weighted Average Grant Date Fair Value Balance (December 31, 2020) — $ — Granted 616,224 5.97 Vested — — Forfeited (1,044) — Balance (June 30, 2021) 615,180 $ 5.97 A summary of activity for the six months ended June 30, 2021 for the RSUs is as follows: Number of Units Weighted Average grant date fair value Balance (December 31, 2020) — $ — Granted 640,421 10.70 Forfeited — — Balance (June 30, 2021) 640,421 $ 10.70

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Net Loss $ (7,205) $ (213) $ (22,227) $ (1,720) Denominator: Weighted average common shares outstanding, basic and diluted 113,670,060 58,621,041 107,279,227 58,621,041 Net Loss per Share Attributable to Common Stockholders, basic and diluted $ (0.06) $ 0.00 $ (0.21) $ (0.03)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the outstanding potentially dilutive securities that were excluded from the computation of diluted net loss per share attributable to common stockholders because the impact of including them would have been antidilutive for the three and six months ended June 30, 2021 and 2020: 2021 2020 Public warrants 10,185,774 — Private warrants 6,074,310 — Earnout RSUs 640,421 — Earnout shares 6,945,732 — Convertible notes payable — 3,452,002 Historic warrants — 776,143 Stock options outstanding to purchase shares of common stock 6,903,318 4,926,397 Unvested RSUs 615,180 — Total 31,364,735 9,154,542

Description of Business (Detail

Description of Business (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2021hubLocation$ / shares	Jun. 30, 2021position$ / shares
Noncontrolling Interest [Line Items]
Number of retail hub locations	15	15
Exercise price of warrants (in shares)	$ 11.50	$ 11.50
Carlotz Group, Inc
Noncontrolling Interest [Line Items]
Ownership percentage	100.00%	100.00%
Orange Grove Fleet Solutions, LLC
Noncontrolling Interest [Line Items]
Ownership percentage	100.00%	100.00%
Orange Peel Reinsurance, Ltd. | Orange Peel LLC
Noncontrolling Interest [Line Items]
Ownership percentage	100.00%	100.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	Jan. 21, 2021shares	Jun. 30, 2021USD ($)letterOfCredit	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)letterOfCredit
Finite-Lived Intangible Assets [Line Items]
Earnout shares (up to) (in shares) | shares	6,945,732
Restricted cash | $		$ 226		$ 605
Letters of credit, number issued | letterOfCredit		2		2
Advertising expense | $		$ 6,432	$ 940
Computer Software, Intangible Asset
Finite-Lived Intangible Assets [Line Items]
Useful life		3 years
Common Stock
Finite-Lived Intangible Assets [Line Items]
Earnout shares (up to) (in shares) | shares	7,500,000

Merger - Schedule of Reverse Re

Merger - Schedule of Reverse Recapitalization (Details) - USD ($) $ in Thousands	Jan. 21, 2021	Jun. 30, 2021	Jun. 30, 2020
Reverse Recapitalization [Abstract]
Cash - Acamar Partners’ trust and cash	$ 309,999
Cash - PIPE	125,000	$ 125,000	$ 0
Less: consideration delivered to existing shareholders of Former CarLotz	(62,693)	(62,693)	0
Less: consideration to pay accrued dividends	(4,853)
Less: transaction costs and advisory fees paid	(47,579)	$ (47,579)	$ 0
Less: payments on cash considerations associated with stock options	(2,465)
Net contributions from Merger and PIPE financing	317,409
Liabilities relieved: preferred stock obligation	2,832
Liabilities relieved: KAR/AFC note payable	3,625
Liabilities relieved: historic warrant liability	144
Less: earnout shares liability	(74,285)
Less: Merger warrants liability	$ (39,024)

Merger - Merger Warrants (Detai

Merger - Merger Warrants (Details)	Jun. 30, 2021shares
Class of Warrant or Right [Line Items]
Stock warrants outstanding (in shares)	16,260,084
Public Stock Warrants
Class of Warrant or Right [Line Items]
Stock warrants outstanding (in shares)	10,185,774
Private Stock Warrants
Class of Warrant or Right [Line Items]
Stock warrants outstanding (in shares)	6,074,310

Merger - Narrative (Details)

Merger - Narrative (Details)	Jan. 21, 2021tradingDay$ / sharesshares
Reverse Recapitalization [Line Items]
Earnout shares (up to) (in shares) | shares	6,945,732
Earnout shares, earnout period	60 months
Derivative Instrument, Period One
Reverse Recapitalization [Line Items]
Earnout shares, earnout period	60 months
Earnout shares, earnout period, stock price trigger (in dollars per share) | $ / shares	$ 12.50
Earnout shares, earnout period, threshold trading days	20
Earnout shares, earnout period, threshold trading day period	30
Earnout shares, earnout period, release of shares, percentage	50.00%
Derivative Instrument, Period Two
Reverse Recapitalization [Line Items]
Earnout shares, earnout period, stock price trigger (in dollars per share) | $ / shares	$ 15
Earnout shares, earnout period, threshold trading days	20
Earnout shares, earnout period, threshold trading day period	30
Earnout shares, earnout period, release of shares, percentage	50.00%
Derivative Instrument, Period Three
Reverse Recapitalization [Line Items]
Earnout shares, earnout period, stock price trigger (in dollars per share) | $ / shares	$ 10

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Lease income, net	$ 98	$ 127	$ 205	$ 272
Total Revenues	50,768	26,399	107,380	51,789
Retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	44,230	23,652	94,613	44,694
Wholesale vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	4,660	1,725	9,228	5,036
Finance and insurance, net
Disaggregation of Revenue [Line Items]
Revenue	$ 1,780	$ 895	3,334	1,787
Vehicle Sales
Disaggregation of Revenue [Line Items]
Revenue			$ 107,175	$ 51,517

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenues and Cost of Sale by Product (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Gross Profit	$ 4,182	$ 2,729	$ 6,190	$ 5,201
Retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	44,230	23,652	94,613	44,694
Vehicle cost of sales	41,641	21,991	90,558	41,546
Gross Profit	2,589	1,661	4,055	3,148
Wholesale vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	4,660	1,725	9,228	5,036
Vehicle cost of sales	4,945	1,679	10,632	5,042
Gross Profit	$ (285)	$ 46	$ (1,404)	$ (6)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2021hubLocation	Jun. 30, 2021positionmi
Revenue from Contract with Customer [Abstract]
Number of retail hub locations	15	15
Customer vehicle exchange policy, after delivery, period		3 days
Customer vehicle exchange policy, after delivery, miles		500

Marketable Securities - Summary

Marketable Securities - Summary of Amortized Cost, Gross Unrealized Gains and Losses and Estimated Fair Values (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	$ 178,445	$ 642
Gross Unrealized Gains	16	16
Gross Unrealized Losses	(76)	(1)
Fair Value	178,385	657
U.S. Treasuries
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	180	240
Gross Unrealized Gains	3	6
Gross Unrealized Losses	0	0
Fair Value	183	246
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	50,546	261
Gross Unrealized Gains	6	5
Gross Unrealized Losses	(57)	(1)
Fair Value	50,495	265
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	56,323
Gross Unrealized Gains	7
Gross Unrealized Losses	(15)
Fair Value	56,315
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	69,469
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	69,469
U.S. states, territories and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis		141
Gross Unrealized Gains		5
Gross Unrealized Losses		0
Fair Value		$ 146
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	1,927
Gross Unrealized Gains	0
Gross Unrealized Losses	(4)
Fair Value	$ 1,923

Marketable Securities - Amortiz

Marketable Securities - Amortized Cost and Fair Value of Fixed Maturity Debt Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Amortized Cost
Due in one year or less	$ 173,660
Due after one year through five years	4,537
Due after five years through ten years	248
Amortized Cost/​ Cost Basis	178,445	$ 642
Fair Value
Due in one year or less	173,603
Due after one year through five years	4,531
Due after five years through ten years	251
Fair Value	$ 178,385	$ 657

Marketable Securities - Gross U

Marketable Securities - Gross Unrealized Losses in Fixed Maturity Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value
Less Than 12 Months	$ 84,988	$ 39
12 Months or More	59	0
Total	85,047	39
Unrealized Losses
Less Than 12 Months	(75)	(1)
12 Months or More	(1)	0
Total	(76)	(1)
Corporate bonds
Fair Value
Less Than 12 Months	49,253	39
12 Months or More	59	0
Total	49,312	39
Unrealized Losses
Less Than 12 Months	(56)	(1)
12 Months or More	(1)	0
Total	(57)	$ (1)
Municipal bonds
Fair Value
Less Than 12 Months	33,813
12 Months or More	0
Total	33,813
Unrealized Losses
Less Than 12 Months	(15)
12 Months or More	0
Total	(15)
Foreign governments
Fair Value
Less Than 12 Months	1,922
12 Months or More	0
Total	1,922
Unrealized Losses
Less Than 12 Months	(4)
12 Months or More	0
Total	$ (4)

Marketable Securities - Narrati

Marketable Securities - Narrative (Details) $ in Thousands	Jun. 30, 2021USD ($)position	Dec. 31, 2020USD ($)position
Investments, Debt and Equity Securities [Abstract]
Number of securities, unrealized losses 12 months or longer | position	3	0
Unrealized losses , 12 months or longer	$ 1	$ 0
Number of securities, unrealized losses, less than 12 months | position	146	3
Unrealized losses less than 12 months	$ 75	$ 1
Gross unrealized loss position greater than	$ 7	$ 325
Amortized cost, percentage	0.30%	1.60%

Marketable Securities - Equity

Marketable Securities - Equity Securities Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Equity securities, cost	$ 432	$ 335
Equity securities	$ 520	$ 375

Marketable Securities - Proceed

Marketable Securities - Proceeds from Sale of Securities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Fixed maturity debt securities	$ 128,954	$ 15
Proceeds from equity securities	0	6
Proceeds from sales of marketable securities	128,954	21
Fixed maturity debt securities, gross realized gains	7	0
Equity securities, gross realized gains	0	3
Total marketable securities, gross realized gains	7	3
Fix maturity debt securities, gross realized losses	(2)	0
Equity securities, gross realized losses	0	0
Total marketable securities, gross realized losses	(2)	0
Fixed maturity debt securities, net realized losses	5	0
Equity securities, net realized losses	0	3
Total marketable securities, net realized losses	$ 5	$ 3

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Assets:
Equity securities	$ 520	$ 375
Fixed maturity debt securities, including cash equivalents	178,385	657
Liabilities:
Warrants liability			$ 144
Fair Value, Recurring
Assets:
Money market funds	26	405
Equity securities	520	375
Fixed maturity debt securities, including cash equivalents	205,043	657
Total Assets	205,589	1,437
Liabilities:
Redeemable convertible preferred stock tranche obligation		2,832
Earnout shares	30,228
Total Liabilities	56,569	2,976
Fair Value, Recurring | Merger warrants liability
Liabilities:
Warrants liability	26,341
Fair Value, Recurring | Historic warrants liability
Liabilities:
Warrants liability		144
Fair Value, Recurring | Level 1
Assets:
Money market funds	26	405
Equity securities	520	375
Fixed maturity debt securities, including cash equivalents	0	246
Total Assets	546	1,026
Liabilities:
Redeemable convertible preferred stock tranche obligation		0
Earnout shares	0
Total Liabilities	16,501	0
Fair Value, Recurring | Level 1 | Merger warrants liability
Liabilities:
Warrants liability	16,501
Fair Value, Recurring | Level 1 | Historic warrants liability
Liabilities:
Warrants liability		0
Fair Value, Recurring | Level 2
Assets:
Money market funds	0	0
Equity securities	0	0
Fixed maturity debt securities, including cash equivalents	205,043	411
Total Assets	205,043	411
Liabilities:
Redeemable convertible preferred stock tranche obligation		0
Earnout shares	0
Total Liabilities	9,840	0
Fair Value, Recurring | Level 2 | Merger warrants liability
Liabilities:
Warrants liability	9,840
Fair Value, Recurring | Level 2 | Historic warrants liability
Liabilities:
Warrants liability		0
Fair Value, Recurring | Level 3
Assets:
Money market funds	0	0
Equity securities	0	0
Fixed maturity debt securities, including cash equivalents	0	0
Total Assets	0	0
Liabilities:
Redeemable convertible preferred stock tranche obligation		2,832
Earnout shares	30,228
Total Liabilities	30,228	2,976
Fair Value, Recurring | Level 3 | Merger warrants liability
Liabilities:
Warrants liability	$ 0
Fair Value, Recurring | Level 3 | Historic warrants liability
Liabilities:
Warrants liability		$ 144

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Reconciliation of Redeemable Convertible Preferred Stock and Warrant Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 2,976	$ 3,870
Issuances	74,284	0
Settlements	(2,976)	0
Change in fair value	(44,056)	(297)
Ending Balance	30,228	3,573
Redeemable convertible preferred stock tranche obligation
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	2,832	3,755
Issuances	0	0
Settlements	(2,832)	0
Change in fair value	0	(284)
Ending Balance	0	3,471
Historic warrants liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	144	115
Issuances	0	0
Settlements	(144)	0
Change in fair value	0	(13)
Ending Balance	0	$ 102
Earnout shares
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0
Issuances	74,284
Settlements	0
Change in fair value	(44,056)
Ending Balance	$ 30,228

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Significant Inputs Used Valuing Earnout Shares (Details)	Jan. 21, 2021$ / shares	Jun. 30, 2021$ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (in years)	5 years	4 years 7 months 6 days
Risk-free interest rate	0.45%	0.79%
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected volatility	0.8000	0.8500
Starting stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Starting stock price (in dollars per share)	$ 11.31	$ 5.46
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout hurdle (in dollars per share)	12.50	12.50
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout hurdle (in dollars per share)	$ 15	$ 15

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Narrative (Details) - Floor Plan Credit Facility - Revolving Credit Facility - Ally Financial - Line of Credit - USD ($) $ in Thousands	1 Months Ended
	Jun. 30, 2021	Mar. 10, 2021
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 40	$ 30
Increase borrowing capacity	$ 10

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 5,478	$ 4,199
Allowance for doubtful accounts	(67)	(67)
Total Accounts Receivable, net	5,411	4,132
Contracts in transit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,939	3,321
Trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	295	240
Finance commission
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	244	132
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0	$ 506

Inventory and Floor Plan_Notes

Inventory and Floor Plan Notes Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Used vehicles	$ 47,454	$ 11,202
Parts	15	0
Total	$ 47,469	$ 11,202

Inventory and Floor Plan_Note_2

Inventory and Floor Plan Notes Payable - Narrative (Details) - USD ($) $ in Thousands	Mar. 10, 2021	Jun. 30, 2021
Prime Rate
Inventory [Line Items]
Interest rate		3.25%
Floor Plan Credit Facility | Revolving Credit Facility | Line of Credit | Ally Financial
Inventory [Line Items]
Floor plan credit facility	$ 30	$ 40
Floor Plan Credit Facility | Revolving Credit Facility | Line of Credit | Ally Financial | Prime Rate
Inventory [Line Items]
Basis spread on variable rate	2.50%

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of PP&E (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 12,962	$ 2,910
Less: accumulated depreciation	(1,300)	(1,042)
Property and Equipment, net	11,662	1,868
Capital lease assets
Property, Plant and Equipment [Line Items]
Total property and equipment	7,809	1,305
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	1,361	702
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	3,649	760
Corporate vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 143	$ 143

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 258	$ 101

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Current Assets:
Lease receivable, net	$ 23	$ 36
Deferred acquisition costs	45	72
Prepaid expenses	4,957	679
Interest receivable	1,228	0
Deferred transaction costs	0	5,892
Total Other Current Assets	6,253	6,679
Other Assets:
Lease receivable, net	16	16
Deferred acquisition costs	64	48
Security deposits	4,310	235
Total Other Assets	$ 4,390	$ 299

Long-term Debt - Summary of Deb

Long-term Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Apr. 20, 2020
Debt Instrument [Line Items]
Capital lease obligation	$ 7,791	$ 1,305
Long-term debt and lease obligation	7,791	9,369
Current portion of long-term debt	(212)	(6,370)
Long-term Debt	7,579	2,999
Promissory Note
Debt Instrument [Line Items]
Long-term debt	0	2,990
Convertible Notes Payable
Debt Instrument [Line Items]
Long-term debt	0	3,325
Paycheck Protection Program Loan
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 1,749	$ 1,749

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) $ in Thousands	Jan. 21, 2021USD ($)shares	Dec. 20, 2019	Mar. 31, 2021	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Apr. 20, 2020USD ($)
Debt Instrument [Line Items]
KAR/AFC note payable conversion (in shares) | shares	347,992
Warrant exercised into shares (in shares) | shares	73,869
Convertible Notes Payable
Debt Instrument [Line Items]
Payment of debt	$ 3,000
For each convertible note, warrants received, percentage of fully diluted stock		0.0020
Long-term debt, gross					$ 3,500
Long-term debt				$ 0	$ 3,325
Interest rate					6.00%
Interest rate, basis term			365 days
Interest payable					$ 212
Paycheck Protection Program Loan
Debt Instrument [Line Items]
Long-term debt				$ 0	$ 1,749	$ 1,749

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
License and title fees	$ 797	$ 785
Payroll and bonuses	2,200	837
Deferred rent	535	199
Accrued Technology	5,007	0
Other	4,699	1,742
Total Accrued Expenses	$ 13,238	$ 3,563

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 21, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Other Liabilities, Current
Unearned insurance premiums	$ 703		$ 703	$ 256
Other payables - marketable securities	4,722		4,722		$ 0
Other current liabilities	5,425		5,425		256
Other Liabilities
Unearned insurance premiums	1,106		1,106	1,680
Other long-term liabilities	126		126	135
Historic warrants liability				144
Other liabilities	1,232		1,232	1,959	$ 1,959
Advance from holder of marketable securities		$ 50,000	$ 4,722	$ 0
Repayment of advance from holder of marketable securities	$ 45,278

Lease Commitments - Narrative (

Lease Commitments - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Rent expense	$ 1,599	$ 462
Minimum
Lessee, Lease, Description [Line Items]
Monthly rental payments	3
Maximum
Lessee, Lease, Description [Line Items]
Monthly rental payments	48
Vehicles | Minimum
Lessee, Lease, Description [Line Items]
Monthly operating lease rental payments	291
Vehicles | Maximum
Lessee, Lease, Description [Line Items]
Monthly operating lease rental payments	$ 1,770

Lease Commitments - Schedule of

Lease Commitments - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Total Per Year
2021 (remaining)	$ 1,719
2022	4,298
2023	4,161
2024	3,184
2025	2,976
Thereafter	9,168
Total	25,506
Total Capital Leases
2021 (remaining)	269
2022	1,037
2023	1,048
2024	1,058
2025	1,069
Thereafter	10,643
Total	15,124
Less: amount representing interest	(7,333)
Present value of minimum lease payments	7,791
Less: current obligation	(212)
Long-term obligations under capital lease	$ 7,579

Lease Commitments - Schedule _2

Lease Commitments - Schedule of Future Minimum Lease Payments and Receipts for Lease Vehicles (Details) $ in Thousands	Jun. 30, 2021USD ($)
Payments Due to Third-Parties
2021 (remaining)	$ 1,719
2022	4,298
2023	4,161
2024	3,184
2025	2,976
Total	25,506
Assets Leased to Others
Payments Due to Third-Parties
2021 (remaining)	964
2022	1,713
2023	1,089
2024	664
2025	293
Total	4,723
Future Receipts
2021 (remaining)	1,164
2022	2,048
2023	1,286
2024	779
2025	340
Total	$ 5,617

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)ownershipClass	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Temporary Equity [Line Items]
Number of ownership classes | ownershipClass		2
Unpaid cumulative distributions included in accrued expenses-related party	$ 5,082	$ 0
Redeemable convertible preferred stock	0	0	$ 0	$ 0	$ 0	$ 0
Redeemable convertible preferred stock tranche obligation	2,832	$ 0
Previously Reported
Temporary Equity [Line Items]
Redeemable convertible preferred stock	$ 17,560					$ 17,560
Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
Distribution priority, rate	1.5
Preferred returns, annual rate	8.00%
Unpaid cumulative distributions included in accrued expenses-related party	$ 4,800
Liquidation preference	37,114
Redeemable convertible preferred stock tranche obligation	2,832
Redeemable Convertible Preferred Stock | Previously Reported
Temporary Equity [Line Items]
Redeemable convertible preferred stock	$ 17,560

Stock-Based Compensation Plan -

Stock-Based Compensation Plan - Narrative (Details) $ / shares in Units, $ in Thousands	Jan. 21, 2021USD ($)tradingDaypositionemployee$ / sharesshares	Jun. 30, 2021USD ($)stockIncentivePlan$ / shares	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2021USD ($)stockIncentivePlan$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans | stockIncentivePlan		3		3
Stock-based compensation expense		$ 3,704	$ 3	$ 45,667	$ 37
Options outstanding, intrinsic value (in usd per share) | $ / shares		$ 4.88		$ 4.88		$ 4.88
Options exercisable, intrinsic value (in usd per share) | $ / shares		$ 4.88		$ 4.88		4.88
Earnout shares, earnout period	60 months
Derivative Instrument, Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnout shares, earnout period	60 months
Earnout shares, earnout period, stock price trigger (in dollars per share) | $ / shares	$ 12.50
Earnout shares, earnout period, threshold trading days | tradingDay	20
Earnout shares, earnout period, release of shares, percentage	50.00%
Earnout shares, earnout period, threshold trading day period | tradingDay	30
Derivative Instrument, Period Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnout shares, earnout period, stock price trigger (in dollars per share) | $ / shares	$ 15
Earnout shares, earnout period, threshold trading days | tradingDay	20
Earnout shares, earnout period, release of shares, percentage	50.00%
Earnout shares, earnout period, threshold trading day period | tradingDay	30
Derivative Instrument, Period Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnout shares, earnout period, stock price trigger (in dollars per share) | $ / shares	$ 10
Earnout RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 4,065
Earnout restricted stock units received (in shares) | shares	640,421			640,421
Unrecognized compensation costs related to RSUs		$ 2,785		$ 2,785
2011 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 45,667	$ 37
Granted (in shares) | shares				0	0
Options outstanding exercise price (in usd per share) | $ / shares		$ 0.58	$ 0.59	$ 0.58	$ 0.59	0.59	$ 0.59
2017 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				0	509,635
Options outstanding, intrinsic value (in usd per share) | $ / shares		4.51		$ 4.51		4.51
Options exercisable, intrinsic value (in usd per share) | $ / shares		4.51		4.51		4.51
Options outstanding exercise price (in usd per share) | $ / shares		0.92	$ 0.96	$ 0.92	$ 0.96	0.92	$ 0.96
Stock options, expiration period				10 years
Award vesting conditions waived for options (in shares) | shares	3,538,672
Award vesting period	4 years
2017 Stock Option Plan | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Modification, number of employees impacted | employee	8
Share-based compensation on modification	$ 38,800
2017 Stock Option Plan | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 493
Modification, number of employees impacted | position	16
Award vesting period	4 years
Plan modification, options, cash consideration	$ 186
Plan modification, options, compensation recognized	$ 4,462
2020 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 1,222
Granted (in shares) | shares				1,426,514
Options outstanding exercise price (in usd per share) | $ / shares		$ 11.34		$ 11.34		$ 0
Unrecognized compensation cost related to unvested option		$ 9,845		$ 9,845
2020 Stock Option Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (in usd per share) | $ / shares				$ 6.70
2020 Stock Option Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (in usd per share) | $ / shares				$ 7.77
2020 Stock Incentive Award Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 417
Unrecognized compensation cost related to unvested option		2,306		$ 2,306
Earnout restricted stock units received (in shares) | shares				616,224
2020 Stock Incentive Award Plan | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
2020 Stock Incentive Award Plan | Tranche Three | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested option		$ 949		$ 949

Stock-Based Compensation Plan_2

Stock-Based Compensation Plan - Summary of 2011, 2017 and 2020 Stock Option Plan Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Number of Stock Options
Exercised (in shares)	(56,059)
Weighted Average Exercise Price
Exercised (in usd per share)	$ 0.24
2011 Stock Option Plan
Number of Stock Options
Beginning Balance (in shares)	1,571,205	1,571,205
Granted (in shares)	0	0
Forfeited (in shares)	0	0
Ending Balance (in shares)	1,515,146	1,571,205
Vested (in shares)	1,515,146	1,482,528
Exercisable (in shares)	1,515,146
Weighted Average Exercise Price
Beginning Balance (in usd per share)	$ 0.59	$ 0.59
Granted (in usd per share)	0	0
Forfeited (in usd per share)	0	0
Ending Balance (in usd per share)	0.58	0.59
Vested (in usd per share)	0.58	$ 0.59
Exercisable (in usd per share)	$ 0.58
2017 Stock Option Plan
Number of Stock Options
Beginning Balance (in shares)	3,961,658	2,845,557
Granted (in shares)	0	509,635
Forfeited (in shares)	0	0
Ending Balance (in shares)	3,961,658	3,355,192
Vested (in shares)	3,538,672
Weighted Average Exercise Price
Beginning Balance (in usd per share)	$ 0.92	$ 0.96
Granted (in usd per share)	0	0.96
Forfeited (in usd per share)	0	0
Ending Balance (in usd per share)	0.92	$ 0.96
Vested (in usd per share)	0.92
Exercisable (in usd per share)	$ 0.92
2020 Stock Option Plan
Number of Stock Options
Beginning Balance (in shares)	0
Granted (in shares)	1,426,514
Forfeited (in shares)	0
Ending Balance (in shares)	1,426,514
Exercisable (in shares)	0
Weighted Average Exercise Price
Beginning Balance (in usd per share)	$ 0
Granted (in usd per share)	11.34
Forfeited (in usd per share)	0
Ending Balance (in usd per share)	11.34
Exercisable (in usd per share)	$ 0

Stock-Based Compensation Plan_3

Stock-Based Compensation Plan - Summary of Stock Options Vested and Expected to Vest (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
2011 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Options outstanding, number of stock options (in shares)	1,515,146	1,571,205	1,571,205	1,571,205
Options exercisable, number of stock options (in shares)	1,515,146
Options outstanding, weighted average remaining contractual life (in years)	1 year 2 months 1 day
Options exercisable, weighted average remaining contractual life (in years)	1 year 2 months 1 day
Options outstanding exercise price (in usd per share)	$ 0.58	$ 0.59	$ 0.59	$ 0.59
Options exercisable, weighted average exercise price (in usd per share)	$ 0.58
2017 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Options outstanding, number of stock options (in shares)	3,961,658	3,961,658	3,355,192	2,845,557
Options outstanding, weighted average remaining contractual life (in years)	8 years 21 days
Options exercisable, weighted average remaining contractual life (in years)	7 years 11 months 4 days
Options outstanding exercise price (in usd per share)	$ 0.92	$ 0.92	$ 0.96	$ 0.96
Options exercisable, weighted average exercise price (in usd per share)	$ 0.92

Stock-Based Compensation Plan_4

Stock-Based Compensation Plan - Inputs Used (Details)	6 Months Ended
	Jun. 30, 2021
2017 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	80.00%
Expected dividend yield	0.00%
Risk free interest rate, minimum	0.32%
Risk free interest rate, maximum	0.45%
2017 Stock Option Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	3 years 7 months 6 days
2017 Stock Option Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	4 years 9 months 18 days
2020 Stock Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	80.00%
Expected dividend yield	0.00%
Expected term (in years)	6 years 3 months
Risk free interest rate, minimum	0.0062%
Risk free interest rate, maximum	0.0079%

Stock-Based Compensation Plan_5

Stock-Based Compensation Plan - Restricted Stock Unit Activity (Details) - $ / shares	Jan. 21, 2021	Jun. 30, 2021
Earnout RSUs
Number of Units
Beginning Balance (in shares)		0
Granted (in shares)	640,421	640,421
Forfeited (in shares)		0
Ending Balance (in shares)		640,421
Weighted Average grant date fair value
Beginning Balance (in usd per share)		$ 0
Granted (in usd per share)		10.70
Forfeited (in usd per share)		0
Ending Balance (in usd per share)		$ 10.70
Restricted Stock Units | 2020 Stock Incentive Award Plan
Number of Units
Beginning Balance (in shares)		0
Granted (in shares)		616,224
Vested (in shares)		0
Forfeited (in shares)		(1,044)
Ending Balance (in shares)		615,180
Weighted Average grant date fair value
Beginning Balance (in usd per share)		$ 0
Granted (in usd per share)		5.97
Vested (in dollars per share)		0
Forfeited (in usd per share)		0
Ending Balance (in usd per share)		$ 5.97

Stock-Based Compensation Plan_6

Stock-Based Compensation Plan - Inputs Used for Earnout RSUs (Details)	Jan. 21, 2021$ / shares	Jun. 30, 2021$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years	4 years 7 months 6 days
Risk-free interest rate	0.45%	0.79%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnout hurdle (in dollars per share)	$ 12.50	$ 12.50
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnout hurdle (in dollars per share)	$ 15	$ 15
Expected volatility
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	0.8000	0.8500
Starting stock price
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Starting stock price (in dollars per share)	$ 11.31	$ 5.46

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net loss, basic	$ (7,205)	$ (213)	$ (22,227)	$ (1,720)
Net loss, diluted	$ (7,205)	$ (213)	$ (22,227)	$ (1,720)
Denominator:
Weighted average common shares outstanding, basic (in shares)	113,670,060	58,621,041	107,279,227	58,621,041
Weighted average common shares outstanding, diluted (in shares)	113,670,060	58,621,041	107,279,227	58,621,041
Net Loss per Share Attributable to Common Stockholders, basic (in dollars per share)	$ (0.06)	$ 0	$ (0.21)	$ (0.03)
Net Loss per Share Attributable to Common Stockholders, diluted (in dollars per share)	$ (0.06)	$ 0	$ (0.21)	$ (0.03)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Antidilutive securities excluded from Earnings per share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	31,364,735	9,154,542	31,364,735	9,154,542
Public warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	10,185,774	0	10,185,774	0
Private warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,074,310	0	6,074,310	0
Earnout RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	640,421	0	640,421	0
Earnout shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,945,732	0	6,945,732	0
Convertible notes payable
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	3,452,002	0	3,452,002
Historic warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	776,143	0	776,143
Stock options outstanding to purchase shares of common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,903,318	4,926,397	6,903,318	4,926,397
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	615,180	0	615,180	0

Concentrations (Details)

Concentrations (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Supplier Concentration Risk | Cost of Goods and Service Benchmark
Concentration Risk [Line Items]
Concentration risk threshold percentage	32.00%	48.00%

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 09, 2021hubLocation	Jun. 30, 2021hubLocation	Jun. 30, 2021position
Subsequent Event [Line Items]
Number of retail hub locations		15	15
Subsequent Event
Subsequent Event [Line Items]
Number of retail hub locations	16
Subsequent Event | Colorado
Subsequent Event [Line Items]
Number of additional hub locations	1