CarLotz (LOTZ) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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	3301 W. Moore Street
Entity Address, City or Town	Richmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23230
City Area Code	804
Local Phone Number	510-0744
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		114,218,814
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
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	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 75,328	$ 75,029
Restricted cash	4,011	4,336
Marketable securities – at fair value	74,109	116,589
Accounts receivable, net	6,922	8,206
Inventories	46,095	40,985
Other current assets	10,741	4,705
Total Current Assets	217,206	249,850
Marketable securities – at fair value	971	1,941
Property and equipment, net	13,042	22,628
Capitalized website and internal-use software costs, net	13,385	13,716
Operating lease assets	49,608
Finance lease assets	11,811
Lease vehicles, net	2,223	1,596
Other assets	553	558
Total Assets	308,799	290,289
Current Liabilities:
Current portion of finance lease liabilities	560	509
Floor plan notes payable	22,052	27,815
Accounts payable	7,914	6,352
Accrued expenses	14,369	14,428
Current portion of operating lease liabilities	6,810
Other current liabilities	662	754
Total Current Liabilities	52,367	49,858
Finance lease liabilities, less current portion	12,080	12,206
Operating leases, less current portion	45,076
Earnout shares liability	3,650	7,679
Other liabilities	651	744
Total Liabilities	118,515	76,778
Commitments and Contingencies (Note 15)	0	0
Stockholders’ Equity (Deficit):
Common stock, $0.0001 par value; 500,000,000 authorized shares, 114,111,796 and 113,996,401 shares issued and outstanding at March 31, 2022 and December 31, 2021	11	11
Additional paid-in capital	289,191	287,509
Accumulated deficit	(98,752)	(73,916)
Accumulated other comprehensive (loss) income	(166)	(93)
Total Stockholders’ Equity (Deficit)	190,284	213,511
Total Liabilities and Stockholders’ Equity (Deficit)	308,799	290,289
Merger warrants liability
Current Liabilities:
Merger warrants liability	$ 4,691	$ 6,291

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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)	114,111,796	114,111,796
Common stock, outstanding shares (in shares)	113,996,401	113,996,401

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Lease income, net	$ 146	$ 107
Total Revenues	63,014	56,612
Cost of sales (exclusive of depreciation)	60,936	54,604
Gross Profit	2,078	2,008
Operating Expenses:
Selling, general and administrative	27,674	18,873
Stock-based compensation expense	1,684	41,963
Depreciation and amortization expense	1,789	383
Management fee expense – related party	0	2
Total Operating Expenses	31,147	61,221
Loss from Operations	(29,069)	(59,213)
Interest expense	617	175
Other Income, net
Change in fair value of Merger warrants liability	1,600	12,358
Change in fair value of earnout shares	4,029	31,846
Other income (expense)	(779)	162
Total Other Income, net	4,850	44,366
Loss Before Income Tax Expense	(24,836)	(15,022)
Income tax expense	0	0
Net Loss	$ (24,836)	$ (15,022)
Net Loss per Share, basic (in dollars per share)	$ (0.22)	$ (0.15)
Net Loss per Share, diluted (in dollars per share)	$ (0.22)	$ (0.15)
Weighted-average Shares used in Computing Net Loss per Share, basic (in shares)	114,054,597	100,817,385
Weighted-average Shares used in Computing Net Loss per Share, diluted (in shares)	114,054,597	100,817,385
Retail vehicle sales
Revenues:
Revenue	$ 50,588	$ 50,383
Gross Profit	(1,827)	1,466
Wholesale vehicle sales
Revenues:
Revenue	8,575	4,568
Gross Profit	54	(1,119)
Finance and insurance, net
Revenues:
Revenue	$ 3,705	$ 1,554

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (24,836)	$ (15,022)
Other Comprehensive (Loss), net of tax:
Unrealized (losses) gains on marketable securities arising during the period	(73)	(131)
Tax effect	0	0
Unrealized (losses) gains on marketable securities arising during the period, net of tax	(73)	(131)
Reclassification adjustment for realized losses	0	0
Tax effect	0	0
Reclassification adjustment for realized losses, net of tax	0	0
Other Comprehensive (Loss), net of tax	(73)	(131)
Total Comprehensive (Loss)	$ (24,909)	$ (15,153)

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 Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) IncomePreviously Reported	Accumulated Other Comprehensive (Loss) IncomeRevision of Prior Period, Adjustment
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	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)	$ 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
Cash consideration paid to Former Carlotz optionholders	(2,465)						(2,465)
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, 2021		0
Beginning balance at Dec. 31, 2021		$ 0
Ending balance (in shares) at Mar. 31, 2022	0
Ending balance at Mar. 31, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	113,996,401				113,996,401
Beginning balance at Dec. 31, 2021	$ 213,511	$ 213,511			$ 11			$ 287,509			$ (73,916)		$ (93)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(24,836)									(24,836)
Other comprehensive income, net of tax	(73)											(73)
Issuance of common stock to settle vested restricted stock units (in shares)				70,971
Issuance of common stock to settle vested restricted stock units	$ (2)						(2)
Cashless exercise of options (in shares)	50,964			44,424
Stock-based compensation	$ 1,684						1,684
Ending balance (in shares) at Mar. 31, 2022	113,996,401			114,111,796
Ending balance at Mar. 31, 2022	$ 190,284			$ 11			$ 289,191			$ (98,752)		$ (166)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Net loss	$ (24,836)	$ (15,022)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization expense	4,097	105
Amortization and accretion - marketable securities	440	238
Depreciation – lease vehicles	85	15
Loss on marketable securities	0	0
Provision for doubtful accounts	(30)	0
Stock-based compensation expense	1,684	41,963
Change in fair value of Merger warrants liability	(1,600)	(12,358)
Change in fair value of earnout shares	(4,029)	(31,846)
Change in Operating Assets and Liabilities:
Accounts receivable	1,314	(5,192)
Inventories	(5,110)	1,991
Other current assets	(6,036)	(5,868)
Other assets	5	(3,038)
Accounts payable	1,562	3,140
Accrued expenses	975	6,187
Accrued expenses – related party	0	(229)
Other current liabilities	(92)	559
Other liabilities	(93)	(245)
Net Cash Used in Operating Activities	(31,664)	(19,600)
Cash Flows from Investing Activities
Purchase of property and equipment	(4,091)	(586)
Capitalized website and internal-use software costs	(611)	(1,154)
Purchase of marketable securities	(21,974)	(217,689)
Proceeds from sales of marketable securities	64,917	59
Purchase of lease vehicles	(712)	0
Net Cash (Used in) Provided by Investing Activities	37,529	(219,370)
Cash Flows from Financing Activities
Payments made on finance leases	(126)	0
PIPE issuance	0	125,000
Merger financing	0	309,999
Payment made on accrued dividends	0	(4,853)
Payments to existing shareholders of Former CarLotz	0	(62,693)
Transaction costs and advisory fees	0	(47,579)
Payments made on cash considerations associated with stock options	0	(2,465)
Repayment of Paycheck Protection Program loan	0	(1,749)
Payments made on note payable	0	(3,000)
Payments on floor plan notes payable	(41,728)	(11,150)
Borrowings on floor plan notes payable	35,965	9,236
Payments made for tax on equity award transactions	(2)	0
Net Cash (Used in) Provided by Financing Activities	(5,891)	310,746
Net Change in Cash and Cash Equivalents Including Restricted Cash	(26)	71,776
Cash and cash equivalents and restricted cash, beginning	79,365	2,813
Cash and cash equivalents and restricted cash, ending	79,339	74,589
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	615	402
Supplementary Schedule of Non-cash Investing and Financing Activities:
Transfer from lease vehicles to inventory	0	100
KAR/AFC exercise of stock warrants	0	(144)
KAR/AFC conversion of notes payable	0	(3,625)
Convertible redeemable preferred stock tranche obligation expiration	0	(2,832)
Capitalized website and internal use software costs accrued	$ 0	$ (1,400)

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2022
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 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 operates an innovative and one-of-a-kind consumer and commercial used vehicle consignment and sales business model, with an online marketplace and twenty-two retail hub locations throughout the United States, including in Alabama, California, Colorado, Georgia, Florida, Illinois, North Carolina, Tennessee, Texas, Virginia 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), CarLotz Logistics, LLC (a Delaware 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 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 continuing 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. generally accepted accounting principles (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 U.S. Securities and Exchange Commission (“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. GAAP and applicable rules and regulations of the 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 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, except for those related to recent accounting pronouncements adopted in the current fiscal year. 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 March 31, 2022 and its results of operations for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 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	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022, there were no significant revisions to the Company’s significant accounting policies, other than those indicated herein related to the adoption of Leases Topic 842. 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. See Note 6 — Fair Value of Financial Instruments. 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 March 31, 2022 and December 31, 2021, restricted cash included approximately $4,011 and $4,336, respectively. The restricted cash is legally and contractually restricted as collateral for lines of credit, including floorplan, and for the payment of claims on the reinsurance companies. 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 $3,154 and $2,526 for the three months ended March 31, 2022 and 2021, 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 retail customer base. Recently Issued Accounting Pronouncements 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. We adopted ASC 842 for the year beginning January 1, 2022 using the modified retrospective transition approach applied at the beginning of the period of adoption, which did not result in a cumulative-effect adjustment to retained earnings. Comparative periods presented in the financial statements continue to be presented in accordance with ASC 840. As permitted under the standard, we have elected the package of practical expedients for the transition to ASC 842, under which we did not reassess our prior conclusions regarding lease identification, lease classification, or initial direct costs for contracts existing as of the transition date. We have also elected to apply the following practical expedients for contracts existing as of the transition date and all new contracts after our adoption of ASC 842: 1) recognizing lease expense on a straight-line basis over the lease term for leases with a term of 12 months or less and not recognizing them on the balance sheet and 2) accounting for lease and non-lease components for all asset classes as a combined single unit of account. We have not elected the practical expedient related to all land easements nor the hindsight practical expedient. The adoption of ASC 842 resulted in the recognition of $50.5 million of operating lease assets, which included an adjustment for deferred rent, and $52.6 million of operating lease liabilities on our opening consolidated balance sheet. We have implemented new business processes, accounting policies, systems and internal controls as part of adopting the new standard. See Note 14 for additional information on leases. 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 December 2019, 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	3 Months Ended
	Mar. 31, 2022
Reverse Recapitalization [Abstract]
Merger	Merger On the Closing Date, the Company consummated the 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 was 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 three months ended March 31, 2022. There has been no change in outstanding stock warrants since the Merger. March 31, 2022 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 condensed consolidated statement of operations. The estimated fair value of the liability is determined by using a Monte-Carlo simulation model.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
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 ): Three Months Ended March 31, 2022 Vehicle Sales Fleet Management Total Retail vehicle sales $ 50,588 $ — $ 50,588 Wholesale vehicle sales 8,575 — 8,575 Finance and insurance, net $ 3,705 $ — $ 3,705 Lease income, net — 146 146 Total Revenues $ 62,868 $ 146 $ 63,014 Three Months Ended March 31, 2021 Vehicle Sales Fleet Management Total Retail vehicle sales $ 50,383 $ — $ 50,383 Wholesale vehicle sales 4,568 — 4,568 Finance and insurance, net $ 1,554 $ — $ 1,554 Lease income, net — 107 107 Total Revenues $ 56,505 $ 107 $ 56,612 The following table summarizes revenues and cost of sales for retail and wholesale vehicle sales for the periods ended: Three Months Ended March 31, 2022 2021 Retail vehicles: Retail vehicle sales $ 50,588 $ 50,383 Retail vehicle cost of sales 52,415 48,917 Gross Profit – Retail Vehicles $ (1,827) $ 1,466 Wholesale vehicles: Wholesale vehicle sales $ 8,575 $ 4,568 Wholesale vehicle cost of sales 8,521 5,687 Gross Profit – Wholesale Vehicles $ 54 $ (1,119) Retail Vehicle Sales The Company sells used vehicles to retail customers through its 22 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 Vehicles that do not meet the Company’s standards for retail vehicle sales, vehicles that did not sell through the retail channel within a reasonable period of time and vehicles that the Company determines offer greater financial benefit through the wholesale channel are sold through various wholesale methods. 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 next owner. 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 before they are transferred to the customer. Accordingly, the Company recognizes finance and insurance revenue at the point in time when the customer enters into the contract.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021: March 31, 2022 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ — $ — $ — $ — Corporate bonds 30,216 2 (114) 30,104 Municipal bonds 21,990 5 (40) 21,955 Commercial paper 19,997 — — 19,997 Foreign governments 2,491 2 (21) 2,472 Total Fixed Maturity Debt Securities $ 74,694 $ 9 $ (175) $ 74,528 December 31, 2021 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ — $ — $ — $ — Corporate bonds 57,460 — (72) 57,388 Municipal bonds 28,325 5 (10) 28,320 Commercial paper 19,989 — — 19,989 Foreign governments 12,291 2 (18) 12,275 Total Fixed Maturity Debt Securities $ 118,065 $ 7 $ (100) $ 117,972 The amortized cost and fair value of the Company’s fixed maturity debt securities as of March 31, 2022 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 $ 73,667 $ 73,557 Due after one year through five years 731 694 Due after five years through ten years 296 277 Total $ 74,694 $ 74,528 The following tables summarize the Company’s gross unrealized losses in fixed maturity securities as of March 31, 2022 and December 31, 2021: March 31, 2022 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 29,890 $ (98) $ 209 $ (16) $ 30,099 $ (114) Municipal bonds 19,289 (32) 133 (8) 19,422 (40) Foreign governments 2,236 (18) 117 (3) 2,353 (21) Total Fixed Maturity Debt Securities $ 51,415 $ (148) $ 459 $ (27) $ 51,874 $ (175) December 31, 2021 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 56,902 $ (69) $ 376 $ (3) $ 57,278 $ (72) Municipal bonds $ 19,945 $ (7) $ 340 $ (3) $ 20,285 $ (10) Foreign governments $ 12,152 $ (18) $ — $ — $ 12,152 $ (18) Total Fixed Maturity Debt Securities $ 88,999 $ (94) $ 716 $ (6) $ 89,715 $ (100) 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 March 31, 2022, the Company’s fixed maturity portfolio had 16 securities with gross unrealized losses totaling $27 that had been in loss positions in excess of 12 months and 99 securities with gross unrealized losses totaling $148 that had been in loss positions less than 12 months. No single issuer had a gross unrealized loss position greater than $21, or 0.7% of its amortized cost. As of December 31, 2021, the Company’s fixed maturity portfolio had 23 securities with gross unrealized losses totaling $(6) that had been in loss positions in excess of 12 months and 106 securities with gross unrealized losses totaling $(94) that had been in loss positions less than 12 months. No single issuer had a gross unrealized loss position greater than $12 (actual), or 0.4% of its amortized cost. The following tables summarize cost and fair values of the Company’s investments in equity securities as of March 31, 2022 and December 31, 2021: March 31, 2022 Cost Fair Value Equity securities $ 430 $ 552 December 31, 2021 Cost Fair Value Equity securities $ 432 $ 558 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 three months ended March 31, 2022 and 2021 consisted of the following: March 31, 2022 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 64,911 $ — $ — $ — Equity securities — — — — Total Marketable Securities $ 64,911 $ — $ — $ — March 31, 2021 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 59 $ — $ — $ — Equity securities — — — — Total Marketable Securities $ 59 $ — $ — $ —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021, 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: March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Money market funds $ — $ — $ — $ — Equity securities 552 — — 552 Fixed maturity debt securities, including cash equivalents — 118,347 — 118,347 Total Assets $ 552 $ 118,347 $ — $ 118,899 Liabilities: Merger warrants liability 2,939 1,752 — 4,691 Earnout shares liability — — 3,650 3,650 Total Liabilities $ 2,939 $ 1,752 $ 3,650 $ 8,341 December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ — $ — $ — $ — Equity securities 558 — — 558 Fixed maturity debt securities — 135,346 — 135,346 Total Assets $ 558 $ 135,346 $ — $ 135,904 Liabilities: Merger warrants liability $ 3,941 $ 2,350 $ — $ 6,291 Earnout shares liability — — 7,679 7,679 Total Liabilities $ 3,941 $ 2,350 $ 7,679 $ 13,970 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 three months ended March 31, 2022 and 2021. 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 three months ended March 31, 2022 and 2021: January 1, Issuances Settlements Change in fair value March 31, Earnout shares 7,679 — — (4,029) 3,650 Total $ 7,679 $ — $ — $ (4,029) $ 3,650 January 1, Issuances Settlements Change in fair value March 31, Redeemable convertible preferred stock tranche obligation $ 2,832 $ — $ (2,832) $ — $ — Historic warrants liability 144 (144) — — Earnout shares — 74,284 — (31,846) 42,438 Total $ 2,976 $ 74,284 $ (2,976) $ (31,846) $ 42,438 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: March 31, 2022 March 31, 2021 Expected volatility 85.00 % 80.00 % Starting stock price $1.37 $7.13 Expected term (in years) 3.7 years 4.70 years Risk-free interest rate 2.44 % 0.87 % 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	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net The following table summarizes accounts receivable as of: March 31, December 31, Contracts in transit $ 6,117 $ 7,836 Trade 1 386 Finance commission 593 284 Other 481 — Total 7,192 8,506 Allowance for doubtful accounts (270) (300) Total Accounts Receivable, net $ 6,922 $ 8,206

Inventory and Floor Plan Notes

Inventory and Floor Plan Notes Payable	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory and Floor Plan Notes Payable	Inventory and Floor Plan Notes Payable The following table summarizes inventory as of: March 31, December 31, Used vehicles $ 45,846 $ 40,739 Parts 249 246 Total $ 46,095 $ 40,985 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 of 2021, 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 March 31, 2022 was 3.50%. Floor plan notes payable are generally due upon the sale of the related used vehicle inventory.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net The following table summarizes property and equipment as of: March 31, December 31, Capital lease assets — 12,566 Leasehold improvements 8,030 4,628 Furniture, fixtures and equipment 7,570 7,993 Corporate vehicles 138 158 Total property and equipment 15,738 25,345 Less: accumulated depreciation (2,696) (2,609) Less: impairment — (108) Property and Equipment, net $ 13,042 $ 22,628 Depreciation expense for property and equipment was approximately $584 and $105 for the three months ended March 31, 2022 and 2021, respectively.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets The following table summarizes other assets as of: March 31, December 31, Other Current Assets: Lease receivable, net $ 29 $ 29 Deferred acquisition costs 40 46 Prepaid expenses 10,133 3,664 Interest receivable 539 966 Total Other Current Assets $ 10,741 $ 4,705 Other Assets: Lease receivable, net $ 16 $ 16 Deferred acquisition costs 30 35 Security deposits 507 507 Total Other Assets $ 553 $ 558

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt The following table summarizes long-term debt as of: March 31, December 31, Capital lease obligation $ — $ 12,715 Finance lease liabilities $ 12,640 $ — 12,640 12,715 Current portion of long-term debt — (509) Current portion of finance lease liabilities (560) — Long-term Debt $ 12,080 $ 12,206 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 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	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The following table summarizes accrued expenses as of: March 31, December 31, License and title fees $ 784 $ 903 Payroll and bonuses 4,564 2,047 Deferred rent — 1,636 Technology 1,120 1,127 Inventory 3,612 2,542 Other 4,289 6,173 Total Accrued Expenses $ 14,369 $ 14,428

Other Liabilities

Other Liabilities	3 Months Ended
	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities The following table summarizes other liabilities as of: March 31, December 31, Other Liabilities, Current Unearned insurance premiums $ 662 $ 754 Other Liabilities Unearned insurance premiums 530 622 Other long-term liabilities 121 122 Other Liabilities, Long-term $ 651 $ 744

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	LeasesThe Company leases its operating facilities from various third parties under non-cancelable operating and finance leases. The leases require various monthly rental payments ranging from approximately $3 to $70, with various ending dates through September 2036. The initial term for real property leases is typically 5 to 15 years. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 5 years or more. We include options to renew (or terminate) in our lease term, and as part of our right-of-use ("ROU") assets and lease liabilities, when it is reasonably certain that we will exercise that option. ROU assets and the related lease liabilities are initially measured at the present value of future lease payments over the lease term. The leases are triple net, whereby the Company is liable for taxes, insurance and repairs. These amounts are generally considered to be variable and are not included in the measurement of the ROU asset and lease liability. Most of these leases have escalating rent payments, which are being expensed on a straight-line basis and are included in operating lease amounts on the balance sheet. 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 $229 to $2,356 (actual) with various ending dates through March 2027. The initial term for vehicle leases is typically 36 to 72 months. Most leases do not include an option to renew. The lease payments are generally fixed throughout the term and any variable lease payments (non-recurring maintenance, taxes, registration) are not included in the measurement of the ROU asset and lease liability. As most of our leases do not provide an implicit rate, we use our collateralized incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. We have elected the practical expedient on not separating lease components from non-lease components. All leases with a term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. The components of lease expense were as follows: Three Months Ended March 31, 2022 Operating lease cost (1) $ 2,435 Finance lease cost: Depreciation of lease assets 263 Interest on lease liabilities 287 Total finance lease cost 550 Total lease cost 2,985 (1) Includes short-term leases and variable lease costs, which are immaterial. Supplemental balance sheet information related to leases was as follows: Classification As of March 31, 2022 Assets: Operating lease assets 49,608 Finance lease assets 11,811 Total lease assets 61,419 Liabilities: Current: Current portion of operating lease liabilities 6,810 Current portion of finance lease liabilities 560 Long-term: Operating leases, less current portion 45,076 Finance leases, less current portion 12,080 Total lease liabilities 64,526 (1) Finance lease assets are recorded net of accumulated depreciation of $755 as of March 31, 2022. Lease term and discount rate information related to leases was as follows: Lease Term and Discount Rate As of March 31, 2022 Weighted Average Remaining Lease Term (in years) Operating leases 8.01 years Finance leases 11.92 years Weighted Average Discount Rate Operating leases 5.87 % Finance leases 10.01 % Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 2,308 Operating cash flows from finance leases 287 Financing cash flows from finance leases 126 Lease assets obtained in exchange for lease obligation Operating leases 51,916 Finance leases — Maturities of lease liabilities were as follows: As of March 31, 2022 Operating Leases (1) Finance Leases (1) Fiscal 2022, remaining 7,118 1,281 Fiscal 2023 9,268 1,669 Fiscal 2024 8,518 1,694 Fiscal 2025 7,887 1,721 Fiscal 2026 6,875 1,766 Thereafter 26,074 14,322 Total lease payments 65,740 22,453 Less: interest (13,854) (9,813) Present value of lease liabilities 51,886 12,640 (1) There are no legally binding minimum lease payments for leases signed but not yet commenced excluded from the table. As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021 and under the previous lease accounting standard, the following is a table of facility lease commitments due for the next five years, and thereafter, as of December 31, 2021: Total Per Year Total Capital Leases 2022 $ 6,788 $ 1,643 2023 6,931 1,669 2024 6,657 1,695 2025 6,832 1,721 2026 5,884 1,766 Thereafter 23,715 14,322 Total $ 56,807 $ 22,816 Less: amount representing interest (10,101) Present value of minimum lease payments 12,715 Less: current obligation (509) Long-term obligations under capital lease $ 12,206 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 December 31, 2021: Payments Due to Third-Parties Future Receipts 2022 $ 1,435 $ 1,721 2023 1,017 1,205 2024 605 716 2025 180 216 2026 55 69 Total 3,292 3,927
Leases	LeasesThe Company leases its operating facilities from various third parties under non-cancelable operating and finance leases. The leases require various monthly rental payments ranging from approximately $3 to $70, with various ending dates through September 2036. The initial term for real property leases is typically 5 to 15 years. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 5 years or more. We include options to renew (or terminate) in our lease term, and as part of our right-of-use ("ROU") assets and lease liabilities, when it is reasonably certain that we will exercise that option. ROU assets and the related lease liabilities are initially measured at the present value of future lease payments over the lease term. The leases are triple net, whereby the Company is liable for taxes, insurance and repairs. These amounts are generally considered to be variable and are not included in the measurement of the ROU asset and lease liability. Most of these leases have escalating rent payments, which are being expensed on a straight-line basis and are included in operating lease amounts on the balance sheet. 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 $229 to $2,356 (actual) with various ending dates through March 2027. The initial term for vehicle leases is typically 36 to 72 months. Most leases do not include an option to renew. The lease payments are generally fixed throughout the term and any variable lease payments (non-recurring maintenance, taxes, registration) are not included in the measurement of the ROU asset and lease liability. As most of our leases do not provide an implicit rate, we use our collateralized incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. We have elected the practical expedient on not separating lease components from non-lease components. All leases with a term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. The components of lease expense were as follows: Three Months Ended March 31, 2022 Operating lease cost (1) $ 2,435 Finance lease cost: Depreciation of lease assets 263 Interest on lease liabilities 287 Total finance lease cost 550 Total lease cost 2,985 (1) Includes short-term leases and variable lease costs, which are immaterial. Supplemental balance sheet information related to leases was as follows: Classification As of March 31, 2022 Assets: Operating lease assets 49,608 Finance lease assets 11,811 Total lease assets 61,419 Liabilities: Current: Current portion of operating lease liabilities 6,810 Current portion of finance lease liabilities 560 Long-term: Operating leases, less current portion 45,076 Finance leases, less current portion 12,080 Total lease liabilities 64,526 (1) Finance lease assets are recorded net of accumulated depreciation of $755 as of March 31, 2022. Lease term and discount rate information related to leases was as follows: Lease Term and Discount Rate As of March 31, 2022 Weighted Average Remaining Lease Term (in years) Operating leases 8.01 years Finance leases 11.92 years Weighted Average Discount Rate Operating leases 5.87 % Finance leases 10.01 % Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 2,308 Operating cash flows from finance leases 287 Financing cash flows from finance leases 126 Lease assets obtained in exchange for lease obligation Operating leases 51,916 Finance leases — Maturities of lease liabilities were as follows: As of March 31, 2022 Operating Leases (1) Finance Leases (1) Fiscal 2022, remaining 7,118 1,281 Fiscal 2023 9,268 1,669 Fiscal 2024 8,518 1,694 Fiscal 2025 7,887 1,721 Fiscal 2026 6,875 1,766 Thereafter 26,074 14,322 Total lease payments 65,740 22,453 Less: interest (13,854) (9,813) Present value of lease liabilities 51,886 12,640 (1) There are no legally binding minimum lease payments for leases signed but not yet commenced excluded from the table. As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021 and under the previous lease accounting standard, the following is a table of facility lease commitments due for the next five years, and thereafter, as of December 31, 2021: Total Per Year Total Capital Leases 2022 $ 6,788 $ 1,643 2023 6,931 1,669 2024 6,657 1,695 2025 6,832 1,721 2026 5,884 1,766 Thereafter 23,715 14,322 Total $ 56,807 $ 22,816 Less: amount representing interest (10,101) Present value of minimum lease payments 12,715 Less: current obligation (509) Long-term obligations under capital lease $ 12,206 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 December 31, 2021: Payments Due to Third-Parties Future Receipts 2022 $ 1,435 $ 1,721 2023 1,017 1,205 2024 605 716 2025 180 216 2026 55 69 Total 3,292 3,927

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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 Federal Securities Litigation 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., 21-cv-5906 (S.D.N.Y.) The action is stated to be brought on behalf of purchasers of the securities 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., 21-cv-6191 (S.D.N.Y.). The action is stated to be brought on behalf of purchasers of the securities 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., 21-cv-6627 (S.D.N.Y.) The action is stated to be brought on behalf of purchasers of the securities 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. The above three cases were consolidated by the Court on August 31, 2021 under In re CarLotz, Inc. Sec. Litig., 21-cv-05906 (S.D.N.Y.). On October 15, 2021, the Court appointed David Berger lead plaintiff and Kahn Swick & Foti, LLC lead counsel for the putative class. On December 14, 2021, Lead Plaintiff Berger and Additional Plaintiff Craig Bailey filed an Amended Complaint against CarLotz, various directors and officers of CarLotz, Acamar, various directors of Acamar, Acamar Partners Sponsor I LLC, and Acamar Partners Sub, Inc., purporting to assert claims on behalf of purchasers of Acamar and CarLotz securities during the period from October 22, 2020 through May 25, 2021. The Amended Complaint alleges that the defendants made various false and misleading statements or omissions about CarLotz’ business, operations, financial performance and prospects in violation of Sections 10(b), 14(a) and 20(a) of the Exchange Act; and Sections 11, 12(a)(2) and 15 of the Securities Act. The Amended Complaint sought a declaration that it is a proper class action pursuant to Fed. R. Civ. P. 23, as well as unspecified compensatory damages allegedly caused by the defendants’ purported violations of the federal securities laws, plus interest and costs and expenses, and any further relief that the Court may deem proper. On February 17, 2022, Plaintiffs filed a Letter Motion for Leave to File Second Amended Complaint, citing the need “to resolve certain factual and legal issues bearing on the viability of certain of plaintiffs’ claims and named defendants.” On February 18, 2022, the Court granted Plaintiffs’ letter motion for leave to file a Second Amended Complaint and ordered that the Second Amended Complaint be filed by March 4, 2022. On March 4, 2022, Lead Plaintiff Berger and Additional Plaintiff Bailey filed a Second Amended Complaint against CarLotz, various directors and officers of CarLotz, Acamar, various directors of Acamar, and Acamar Partners Sponsor I LLC, purporting to assert claims on behalf of purchasers of Acamar and CarLotz securities during the period from October 22, 2020 through May 25, 2021. The Second Amended Complaint alleges that the defendants made various false and misleading statements or omissions about CarLotz’ business, operations, financial performance and prospects in violation of Sections 10(b) and 20(a) of the Exchange Act; and Sections 11, 12(a)(2) and 15 of the Securities Act. The Second Amended Complaint seeks a declaration that it is a proper class action pursuant to Fed. R. Civ. P. 23, as well as unspecified compensatory damages allegedly caused by the defendants’ purported violations of the federal securities laws, plus interest and costs and expenses, and any further relief that the Court may deem proper. Defendants’ deadline to move, answer, or otherwise respond to the Second Amended Complaint is May 16, 2022. Delaware Stockholder Derivative Litigation On September 21, 2021, purported CarLotz stockholder W. Kenmore Cardoza, trustee of the W. Kenmore & Joyce M. Cardoza Revocable Trust, filed a derivative suit purportedly on behalf of CarLotz in the United States District Court for the District of Delaware against certain officers and directors of CarLotz. See Cardoza v. Mitchell, et al., 21-cv-1332 (D. Del.). The complaint, which principally concerns the same alleged misstatements or omissions at issue in In re CarLotz, Inc. Sec. Litig., asserts derivative claims for alleged violations of Sections 10(b) and 21D of the Exchange Act, breach of fiduciary duty and waste. The action seeks to recover unspecified compensatory damages on behalf of the Company, an award of costs and expenses, and other relief. On February 14, 2022, the parties filed a stipulation and proposed scheduling order, pursuant to which Plaintiff will file an amended complaint by April 1, 2022, Defendants will answer or otherwise respond to the amended complaint within 30 days of the filing of the amended complaint, and the parties shall meet and confer on conduct of further proceedings within 7 days of the filing of the amended complaint. On February 15, 2022, the Court so-ordered the parties’ proposed schedule. On April 1, 2022, Plaintiff filed an amended complaint asserting derivative claims for alleged violations of Sections 10(b), 14(a), and 21D of the Exchange Act, breach of fiduciary duty, waste, and unjust enrichment. On March 31, 2022, purported CarLotz stockholder Mohammad Osman filed a derivative suit purportedly on behalf of CarLotz in the United States District Court for the District of Delaware against certain officers and directors of CarLotz. See Osman v. Bor, et al., 22-cv-0431 (D. Del.). The complaint, which principally concerns the same alleged misstatements or omissions at issue in In re CarLotz, Inc. Sec. Litig., asserts derivative claims for alleged violations of Sections 10(b), 20(a), and 21D of the Exchange Act, breach of fiduciary duty and unjust enrichment. The action seeks to recover unspecified compensatory damages on behalf of the Company, an award of costs and expenses, and other relief. On April 13, 2022, Plaintiff in the Cardoza matter moved to consolidate Cardoza and Osman and to be appointed lead plaintiff. On April 27, 2022, Plaintiff in the Osman action cross-moved to consolidate Cardoza and Osman and to be appointed lead plaintiff. The motions remain pending. New York Stockholder Derivative Litigation On October 20, 2021, purported CarLotz stockholder Julian Cha filed a derivative suit purportedly on behalf of CarLotz in the United States District Court for the Southern District of New York against certain officers and directors of CarLotz. See Julian Cha v. David R. Mitchell, et al., 21-cv-8623 (S.D.N.Y.). The complaint, which principally concerns the same alleged misstatements or omissions at issue in In re CarLotz, Inc. Sec. Litig., asserts derivative claims for alleged violations of Sections 10(b), 14(a), and 21D of the Exchange Act, breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, and waste. The action seeks to recover unspecified compensatory damages on behalf of the Company, an award of costs and expenses and other relief. On October 27, 2021, purported CarLotz stockholder Mark Habib filed a derivative suit purportedly on behalf of CarLotz in the United States District Court for the Southern District of New York against certain officers and directors of CarLotz. See Mark Habib v. David R. Mitchell, et al., 21-cv-8786 (S.D.N.Y.). The complaint, which principally concerns the same alleged misstatements or omissions at issue in In re CarLotz, Inc. Sec. Litig., asserts derivative claims for alleged violations of Sections 10(b), 14(a), and 21D of the Exchange Act and breach of fiduciary duty. The action seeks to recover unspecified compensatory damages on behalf of the Company, an award of costs and expenses and other relief. On November 15, 2021, the Court issued an order¸ inter alia, consolidating Cha and Habib under In re CarLotz, Inc. Deriv. Litig., 21-cv-8623 and appointing co-lead counsel. On February 14, 2022, the parties filed a stipulation and proposed order staying the case, which requested that all proceedings in this action be stayed pending the resolution of defendants’ forthcoming motion to dismiss the Second Amended Complaint in In re CarLotz, Inc. Sec. Litig. The Court granted that proposal and stayed the case on February 15, 2022. 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	3 Months Ended
	Mar. 31, 2022
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred StockUnpaid 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	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022 and 2021 of approximately $1,684 and $41,963, 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. A summary of activity for the three months ended March 31, 2022 and 2021 for the 2011 Stock Option Plan is as follows: Number of Weighted Average Exercise Price Balance (December 31, 2021) 1,260,328 $0.56 Granted — — Exercised (50,964) 0.32 Forfeited — — Balance (March 31, 2022) 1,209,364 0.57 Vested (as of March 31, 2022) 1,209,364 $0.57 Number of Weighted Average Exercise Price Balance (December 31, 2020) 1,571,205 $0.59 Granted — — Exercised (56,059) 0.24 Forfeited — — Balance (March 31, 2021) 1,515,146 0.58 Vested (as of March 31, 2021) 1,515,146 $0.58 The following summarizes certain information about stock options vested and expected to vest as of March 31, 2022 related to the 2011 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 1,209,364 0.42 years $0.57 Exercisable 1,209,364 0.42 years $0.57 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 March 31, 2022 was $0.80. 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 August 2030. A summary of activity for the three months ended March 31, 2022 and 2021 for the 2017 Stock Option Plan is as follows: Number of Units Weighted Averaged Exercise Price Balance (December 31, 2021) 3,936,176 $ 0.92 Granted — — Exercised (6,371) $ 0.92 Forfeited (19,111) 0.92 Balance (March 31, 2022) 3,910,694 $ 0.92 Vested (as of March 31, 2022) 3,631,681 $ 0.92 Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) 3,961,658 $ 0.92 Granted — — Forfeited — — Balance (March 31, 2021) 3,961,658 $ 0.92 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 eight 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. At the time of modification, these options resulted in $186 of cash consideration and $4,500 of share based compensation that will be recognized over the service period of four years. For the three months ended March 31, 2022, $249 of share-based compensation was recognized. The following summarizes certain information about stock options vested and expected to vest as of March 31, 2022 related to the 2017 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 3,910,694 7.30 years $0.92 Exercisable 3,631,681 7.21 years $0.92 The aggregate intrinsic value for options outstanding and options exercisable as of March 31, 2022 was $0.45. 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 three Number of Units Weighted Averaged Exercise Price Balance (December 31, 2021) 1,469,297 $ 11.12 Granted 1,573,361 $ 1.68 Forfeited (74,626) $ 10.47 Balance (March 31, 2022) 2,968,032 $ 6.13 Exercisable 388,691 $ 11.34 Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) — $ — Granted 1,409,401 11.35 Forfeited — — Balance (March 31, 2021) 1,409,401 $ 11.35 The grant date fair value of the options granted in the three months ended March 31, 2022 was $1.17. For the three months ended March 31, 2022, $908 of share based compensation was recognized. As of March 31, 2022, there was approximately $8,609 of total unrecognized compensation cost related to unvested options related to the 2020 Stock Incentive Award Plan. The following summarizes certain information about stock options vested and expected to vest as of March 31, 2022 related to the 2020 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 2,968,032 9.20 years $6.13 Exercisable 388,691 7.27 years $11.34 The aggregate intrinsic value for options outstanding and options exercisable as of March 31, 2022 was $0.00. The inputs used for the 2020 Incentive Award Plan options were as follows for the three months ended March 31, 2022: Balance (Expected volatility) 80% Expected dividend yield — % Expected term (in years) 6 years Risk-free interest rate 2.20% The restricted shares associated with the 2020 Incentive Award Plan vest over a service period. A summary of activity for the three months ended March 31, 2022 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, 2021) 597,739 $ 5.57 Granted 1,235,437 $ 1.68 Forfeited (54,208) $ 5.56 Vested (as of March 31, 2022) (71,273) $ 5.69 Balance (March 31, 2022) 1,707,695 $ 2.75 The grant date fair value of the restricted shares granted in the three months ended March 31, 2022 was $1.68. For the three months ended March 31, 2022, $527 of share based compensation cost was recognized. As of March 31, 2022, there was approximately $1,454 of unrecognized compensation cost that vests over a service period of four years, approximately $2,047 of unrecognized compensation cost that vests over a service period of three years, and $164 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 three months ended March 31, 2022 and 2021 for the RSUs is as follows: Number of Units Weighted Average grant date fair value Balance (December 31, 2021) 621,200 $ 10.70 Granted — — Forfeited (141,350) 10.70 Balance (March 31, 2022) 479,850 $ 10.70 Number of Units Weighted Average grant date fair value Balance (December 31, 2020) — $ — Granted 640,421 10.70 Forfeited — — Balance (March 31, 2021) 640,421 $ 10.70 During the three months ended March 31, 2022, the Company recognized no stock-based compensation cost related to the RSUs. As of March 31, 2022, there was no additional unrecognized compensation cost related to the Earnout RSUs. 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	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three months ended March 31, 2022, 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 March 31, 2022 and has concluded that it is more likely than not that the Company will not realize the benefits of the deferred tax assets. Management reevaluates the positive and negative evidence at each reporting period. As of March 31, 2022 and December 31, 2021, no facts or circumstances arose that affected the Company’s determination as to the full valuation allowance established against the net deferred tax assets. Accordingly, a full valuation allowance has been established against the net deferred tax assets as of March 31, 2022 and December 31, 2021.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 Numerator: Net Loss $ (24,836) $ (15,022) Denominator: Weighted average common shares outstanding, basic and diluted 114,054,597 100,817,385 Net Loss per Share Attributable to Common Stockholders, basic and diluted $ (0.22) $ (0.15) 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 months ended March 31, 2022 and 2021: 2022 2021 Public warrants 10,185,774 10,185,774 Private warrants 6,074,310 6,074,310 Earnout RSUs 479,850 640,421 Earnout shares 6,945,732 6,945,732 Convertible notes payable — — Historic warrants — — Stock options outstanding to purchase shares of common stock 8,088,090 6,886,205 Unvested RSUs 1,707,695 — Total 33,481,451 30,732,442

Concentrations

Concentrations	3 Months Ended
	Mar. 31, 2022
Risks and Uncertainties [Abstract]
Concentrations	Concentrations The suppliers that accounted for 10% or more of the Company’s vehicle purchases are presented as follows: Total purchases from vendor to total vehicle purchases for the three months ended March 31, Vendor 2022 2021 Vendor A 20% 62% Vendor B —% —% Vendor A is a corporate vehicle sourcing partner. Typically, we purchase the vehicles from our corporate vehicle sourcing partners at the time of sale to a retail customer. For the periods ended March 31, 2022 and 2021, no retail or wholesale customers accounted for more than 10% of the Company’s revenue.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
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 May 9, 2022, the date the financial statements were available to be issued.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and its results of operations for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 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 March 31, 2022 and December 31, 2021, restricted cash included approximately $4,011 and $4,336, respectively. The restricted cash is legally and contractually restricted as collateral for lines of credit, including floorplan, and for the payment of claims on the reinsurance companies.
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 retail customer base.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements 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. We adopted ASC 842 for the year beginning January 1, 2022 using the modified retrospective transition approach applied at the beginning of the period of adoption, which did not result in a cumulative-effect adjustment to retained earnings. Comparative periods presented in the financial statements continue to be presented in accordance with ASC 840. As permitted under the standard, we have elected the package of practical expedients for the transition to ASC 842, under which we did not reassess our prior conclusions regarding lease identification, lease classification, or initial direct costs for contracts existing as of the transition date. We have also elected to apply the following practical expedients for contracts existing as of the transition date and all new contracts after our adoption of ASC 842: 1) recognizing lease expense on a straight-line basis over the lease term for leases with a term of 12 months or less and not recognizing them on the balance sheet and 2) accounting for lease and non-lease components for all asset classes as a combined single unit of account. We have not elected the practical expedient related to all land easements nor the hindsight practical expedient. The adoption of ASC 842 resulted in the recognition of $50.5 million of operating lease assets, which included an adjustment for deferred rent, and $52.6 million of operating lease liabilities on our opening consolidated balance sheet. We have implemented new business processes, accounting policies, systems and internal controls as part of adopting the new standard. See Note 14 for additional information on leases. 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 December 2019, 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 22 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 Vehicles that do not meet the Company’s standards for retail vehicle sales, vehicles that did not sell through the retail channel within a reasonable period of time and vehicles that the Company determines offer greater financial benefit through the wholesale channel are sold through various wholesale methods. 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 next owner. 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 before they are transferred to the customer. Accordingly, the Company recognizes finance and insurance revenue at the point in time when the customer enters into the contract.

Merger (Tables)

Merger (Tables)	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022. There has been no change in outstanding stock warrants since the Merger. March 31, 2022 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)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The tables below include disaggregated revenue under ASC 606 ( Revenue from Contracts with Customers ): Three Months Ended March 31, 2022 Vehicle Sales Fleet Management Total Retail vehicle sales $ 50,588 $ — $ 50,588 Wholesale vehicle sales 8,575 — 8,575 Finance and insurance, net $ 3,705 $ — $ 3,705 Lease income, net — 146 146 Total Revenues $ 62,868 $ 146 $ 63,014 Three Months Ended March 31, 2021 Vehicle Sales Fleet Management Total Retail vehicle sales $ 50,383 $ — $ 50,383 Wholesale vehicle sales 4,568 — 4,568 Finance and insurance, net $ 1,554 $ — $ 1,554 Lease income, net — 107 107 Total Revenues $ 56,505 $ 107 $ 56,612
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 March 31, 2022 2021 Retail vehicles: Retail vehicle sales $ 50,588 $ 50,383 Retail vehicle cost of sales 52,415 48,917 Gross Profit – Retail Vehicles $ (1,827) $ 1,466 Wholesale vehicles: Wholesale vehicle sales $ 8,575 $ 4,568 Wholesale vehicle cost of sales 8,521 5,687 Gross Profit – Wholesale Vehicles $ 54 $ (1,119)

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021: March 31, 2022 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ — $ — $ — $ — Corporate bonds 30,216 2 (114) 30,104 Municipal bonds 21,990 5 (40) 21,955 Commercial paper 19,997 — — 19,997 Foreign governments 2,491 2 (21) 2,472 Total Fixed Maturity Debt Securities $ 74,694 $ 9 $ (175) $ 74,528 December 31, 2021 Amortized Cost/ Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ — $ — $ — $ — Corporate bonds 57,460 — (72) 57,388 Municipal bonds 28,325 5 (10) 28,320 Commercial paper 19,989 — — 19,989 Foreign governments 12,291 2 (18) 12,275 Total Fixed Maturity Debt Securities $ 118,065 $ 7 $ (100) $ 117,972
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of the Company’s fixed maturity debt securities as of March 31, 2022 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 $ 73,667 $ 73,557 Due after one year through five years 731 694 Due after five years through ten years 296 277 Total $ 74,694 $ 74,528
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 March 31, 2022 and December 31, 2021: March 31, 2022 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 29,890 $ (98) $ 209 $ (16) $ 30,099 $ (114) Municipal bonds 19,289 (32) 133 (8) 19,422 (40) Foreign governments 2,236 (18) 117 (3) 2,353 (21) Total Fixed Maturity Debt Securities $ 51,415 $ (148) $ 459 $ (27) $ 51,874 $ (175) December 31, 2021 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 56,902 $ (69) $ 376 $ (3) $ 57,278 $ (72) Municipal bonds $ 19,945 $ (7) $ 340 $ (3) $ 20,285 $ (10) Foreign governments $ 12,152 $ (18) $ — $ — $ 12,152 $ (18) Total Fixed Maturity Debt Securities $ 88,999 $ (94) $ 716 $ (6) $ 89,715 $ (100)
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 March 31, 2022 and December 31, 2021: March 31, 2022 Cost Fair Value Equity securities $ 430 $ 552 December 31, 2021 Cost Fair Value Equity securities $ 432 $ 558
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 three months ended March 31, 2022 and 2021 consisted of the following: March 31, 2022 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 64,911 $ — $ — $ — Equity securities — — — — Total Marketable Securities $ 64,911 $ — $ — $ — March 31, 2021 Proceeds Gross Realized Gains Gross Realized Losses Net Realized Gain Fixed maturity debt securities $ 59 $ — $ — $ — Equity securities — — — — Total Marketable Securities $ 59 $ — $ — $ —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
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: March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Money market funds $ — $ — $ — $ — Equity securities 552 — — 552 Fixed maturity debt securities, including cash equivalents — 118,347 — 118,347 Total Assets $ 552 $ 118,347 $ — $ 118,899 Liabilities: Merger warrants liability 2,939 1,752 — 4,691 Earnout shares liability — — 3,650 3,650 Total Liabilities $ 2,939 $ 1,752 $ 3,650 $ 8,341 December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ — $ — $ — $ — Equity securities 558 — — 558 Fixed maturity debt securities — 135,346 — 135,346 Total Assets $ 558 $ 135,346 $ — $ 135,904 Liabilities: Merger warrants liability $ 3,941 $ 2,350 $ — $ 6,291 Earnout shares liability — — 7,679 7,679 Total Liabilities $ 3,941 $ 2,350 $ 7,679 $ 13,970
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 three months ended March 31, 2022 and 2021: January 1, Issuances Settlements Change in fair value March 31, Earnout shares 7,679 — — (4,029) 3,650 Total $ 7,679 $ — $ — $ (4,029) $ 3,650 January 1, Issuances Settlements Change in fair value March 31, Redeemable convertible preferred stock tranche obligation $ 2,832 $ — $ (2,832) $ — $ — Historic warrants liability 144 (144) — — Earnout shares — 74,284 — (31,846) 42,438 Total $ 2,976 $ 74,284 $ (2,976) $ (31,846) $ 42,438
Schedule of Significant Inputs Used	The table below summarizes the significant observable inputs used when valuing the earnout shares as of: March 31, 2022 March 31, 2021 Expected volatility 85.00 % 80.00 % Starting stock price $1.37 $7.13 Expected term (in years) 3.7 years 4.70 years Risk-free interest rate 2.44 % 0.87 % Earnout hurdle $12.50-$15.00 $12.50-$15.00

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Summary of Accounts Receivable	The following table summarizes accounts receivable as of: March 31, December 31, Contracts in transit $ 6,117 $ 7,836 Trade 1 386 Finance commission 593 284 Other 481 — Total 7,192 8,506 Allowance for doubtful accounts (270) (300) Total Accounts Receivable, net $ 6,922 $ 8,206

Inventory and Floor Plan Note_2

Inventory and Floor Plan Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table summarizes inventory as of: March 31, December 31, Used vehicles $ 45,846 $ 40,739 Parts 249 246 Total $ 46,095 $ 40,985

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The following table summarizes property and equipment as of: March 31, December 31, Capital lease assets — 12,566 Leasehold improvements 8,030 4,628 Furniture, fixtures and equipment 7,570 7,993 Corporate vehicles 138 158 Total property and equipment 15,738 25,345 Less: accumulated depreciation (2,696) (2,609) Less: impairment — (108) Property and Equipment, net $ 13,042 $ 22,628

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	The following table summarizes other assets as of: March 31, December 31, Other Current Assets: Lease receivable, net $ 29 $ 29 Deferred acquisition costs 40 46 Prepaid expenses 10,133 3,664 Interest receivable 539 966 Total Other Current Assets $ 10,741 $ 4,705 Other Assets: Lease receivable, net $ 16 $ 16 Deferred acquisition costs 30 35 Security deposits 507 507 Total Other Assets $ 553 $ 558

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes long-term debt as of: March 31, December 31, Capital lease obligation $ — $ 12,715 Finance lease liabilities $ 12,640 $ — 12,640 12,715 Current portion of long-term debt — (509) Current portion of finance lease liabilities (560) — Long-term Debt $ 12,080 $ 12,206

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The following table summarizes accrued expenses as of: March 31, December 31, License and title fees $ 784 $ 903 Payroll and bonuses 4,564 2,047 Deferred rent — 1,636 Technology 1,120 1,127 Inventory 3,612 2,542 Other 4,289 6,173 Total Accrued Expenses $ 14,369 $ 14,428

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
Other Liabilities	The following table summarizes other liabilities as of: March 31, December 31, Other Liabilities, Current Unearned insurance premiums $ 662 $ 754 Other Liabilities Unearned insurance premiums 530 622 Other long-term liabilities 121 122 Other Liabilities, Long-term $ 651 $ 744

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended March 31, 2022 Operating lease cost (1) $ 2,435 Finance lease cost: Depreciation of lease assets 263 Interest on lease liabilities 287 Total finance lease cost 550 Total lease cost 2,985 (1) Includes short-term leases and variable lease costs, which are immaterial.
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: Classification As of March 31, 2022 Assets: Operating lease assets 49,608 Finance lease assets 11,811 Total lease assets 61,419 Liabilities: Current: Current portion of operating lease liabilities 6,810 Current portion of finance lease liabilities 560 Long-term: Operating leases, less current portion 45,076 Finance leases, less current portion 12,080 Total lease liabilities 64,526 (1) Finance lease assets are recorded net of accumulated depreciation of $755 as of March 31, 2022.
Lease Terms and Discount Rate	Lease term and discount rate information related to leases was as follows: Lease Term and Discount Rate As of March 31, 2022 Weighted Average Remaining Lease Term (in years) Operating leases 8.01 years Finance leases 11.92 years Weighted Average Discount Rate Operating leases 5.87 % Finance leases 10.01 %
Lessee, Lease, Supplemental Cash Flow Information	Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 2,308 Operating cash flows from finance leases 287 Financing cash flows from finance leases 126 Lease assets obtained in exchange for lease obligation Operating leases 51,916 Finance leases —
Maturities of Operating Lease Liabilities	Maturities of lease liabilities were as follows: As of March 31, 2022 Operating Leases (1) Finance Leases (1) Fiscal 2022, remaining 7,118 1,281 Fiscal 2023 9,268 1,669 Fiscal 2024 8,518 1,694 Fiscal 2025 7,887 1,721 Fiscal 2026 6,875 1,766 Thereafter 26,074 14,322 Total lease payments 65,740 22,453 Less: interest (13,854) (9,813) Present value of lease liabilities 51,886 12,640 (1) There are no legally binding minimum lease payments for leases signed but not yet commenced excluded from the table.
Maturities of Finance Lease Liabilities	Maturities of lease liabilities were as follows: As of March 31, 2022 Operating Leases (1) Finance Leases (1) Fiscal 2022, remaining 7,118 1,281 Fiscal 2023 9,268 1,669 Fiscal 2024 8,518 1,694 Fiscal 2025 7,887 1,721 Fiscal 2026 6,875 1,766 Thereafter 26,074 14,322 Total lease payments 65,740 22,453 Less: interest (13,854) (9,813) Present value of lease liabilities 51,886 12,640 (1) There are no legally binding minimum lease payments for leases signed but not yet commenced excluded from the table.
Schedule of Future Minimum Lease Comments Under Previous Lease Accounting Standard	As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021 and under the previous lease accounting standard, the following is a table of facility lease commitments due for the next five years, and thereafter, as of December 31, 2021: Total Per Year Total Capital Leases 2022 $ 6,788 $ 1,643 2023 6,931 1,669 2024 6,657 1,695 2025 6,832 1,721 2026 5,884 1,766 Thereafter 23,715 14,322 Total $ 56,807 $ 22,816 Less: amount representing interest (10,101) Present value of minimum lease payments 12,715 Less: current obligation (509) Long-term obligations under capital lease $ 12,206
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 December 31, 2021: Payments Due to Third-Parties Future Receipts 2022 $ 1,435 $ 1,721 2023 1,017 1,205 2024 605 716 2025 180 216 2026 55 69 Total 3,292 3,927

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Plan Activity	A summary of activity for the three months ended March 31, 2022 and 2021 for the 2011 Stock Option Plan is as follows: Number of Weighted Average Exercise Price Balance (December 31, 2021) 1,260,328 $0.56 Granted — — Exercised (50,964) 0.32 Forfeited — — Balance (March 31, 2022) 1,209,364 0.57 Vested (as of March 31, 2022) 1,209,364 $0.57 Number of Weighted Average Exercise Price Balance (December 31, 2020) 1,571,205 $0.59 Granted — — Exercised (56,059) 0.24 Forfeited — — Balance (March 31, 2021) 1,515,146 0.58 Vested (as of March 31, 2021) 1,515,146 $0.58 The following summarizes certain information about stock options vested and expected to vest as of March 31, 2022 related to the 2011 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 1,209,364 0.42 years $0.57 Exercisable 1,209,364 0.42 years $0.57 A summary of activity for the three months ended March 31, 2022 and 2021 for the 2017 Stock Option Plan is as follows: Number of Units Weighted Averaged Exercise Price Balance (December 31, 2021) 3,936,176 $ 0.92 Granted — — Exercised (6,371) $ 0.92 Forfeited (19,111) 0.92 Balance (March 31, 2022) 3,910,694 $ 0.92 Vested (as of March 31, 2022) 3,631,681 $ 0.92 Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) 3,961,658 $ 0.92 Granted — — Forfeited — — Balance (March 31, 2021) 3,961,658 $ 0.92 Number of Units Weighted Averaged Exercise Price Balance (December 31, 2021) 1,469,297 $ 11.12 Granted 1,573,361 $ 1.68 Forfeited (74,626) $ 10.47 Balance (March 31, 2022) 2,968,032 $ 6.13 Exercisable 388,691 $ 11.34 Number of Units Weighted Averaged Exercise Price Balance (December 31, 2020) — $ — Granted 1,409,401 11.35 Forfeited — — Balance (March 31, 2021) 1,409,401 $ 11.35
Summary of Options Vested and Expected to Vest	The following summarizes certain information about stock options vested and expected to vest as of March 31, 2022 related to the 2017 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 3,910,694 7.30 years $0.92 Exercisable 3,631,681 7.21 years $0.92 The following summarizes certain information about stock options vested and expected to vest as of March 31, 2022 related to the 2020 Stock Option Plan: Number of Stock Options Weighted Average Remaining Contractual Life Weighted Average Exercise Price Outstanding 2,968,032 9.20 years $6.13 Exercisable 388,691 7.27 years $11.34 The aggregate intrinsic value for options outstanding and options exercisable as of March 31, 2022 was $0.00.
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 three months ended March 31, 2022: Balance (Expected volatility) 80% Expected dividend yield — % Expected term (in years) 6 years Risk-free interest rate 2.20% 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 three months ended March 31, 2022 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, 2021) 597,739 $ 5.57 Granted 1,235,437 $ 1.68 Forfeited (54,208) $ 5.56 Vested (as of March 31, 2022) (71,273) $ 5.69 Balance (March 31, 2022) 1,707,695 $ 2.75 A summary of activity for the three months ended March 31, 2022 and 2021 for the RSUs is as follows: Number of Units Weighted Average grant date fair value Balance (December 31, 2021) 621,200 $ 10.70 Granted — — Forfeited (141,350) 10.70 Balance (March 31, 2022) 479,850 $ 10.70 Number of Units Weighted Average grant date fair value Balance (December 31, 2020) — $ — Granted 640,421 10.70 Forfeited — — Balance (March 31, 2021) 640,421 $ 10.70

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 Numerator: Net Loss $ (24,836) $ (15,022) Denominator: Weighted average common shares outstanding, basic and diluted 114,054,597 100,817,385 Net Loss per Share Attributable to Common Stockholders, basic and diluted $ (0.22) $ (0.15)
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 months ended March 31, 2022 and 2021: 2022 2021 Public warrants 10,185,774 10,185,774 Private warrants 6,074,310 6,074,310 Earnout RSUs 479,850 640,421 Earnout shares 6,945,732 6,945,732 Convertible notes payable — — Historic warrants — — Stock options outstanding to purchase shares of common stock 8,088,090 6,886,205 Unvested RSUs 1,707,695 — Total 33,481,451 30,732,442

Concentrations (Tables)

Concentrations (Tables)	3 Months Ended
	Mar. 31, 2022
Risks and Uncertainties [Abstract]
Schedules of Supplier Risk Concentration	The suppliers that accounted for 10% or more of the Company’s vehicle purchases are presented as follows: Total purchases from vendor to total vehicle purchases for the three months ended March 31, Vendor 2022 2021 Vendor A 20% 62% Vendor B —% —%

Description of Business (Detail

Description of Business (Details)	3 Months Ended
	Mar. 31, 2022retailHub$ / shares	Mar. 31, 2022position$ / shares
Noncontrolling Interest [Line Items]
Number of retail hub locations	22	22
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) - USD ($) $ in Thousands	Jan. 21, 2021	Mar. 31, 2022	Mar. 31, 2021	Jan. 01, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Earnout shares (up to) (in shares)	6,945,732
Restricted cash		$ 4,011			$ 4,336
Advertising expense		3,154	$ 2,526
Operating lease assets		49,608
Operating lease liability		$ 51,886
Cumulative Effect, Period of Adoption, Adjustment
Finite-Lived Intangible Assets [Line Items]
Operating lease assets				$ 50,500
Operating lease liability				$ 52,600
Common Stock
Finite-Lived Intangible Assets [Line Items]
Earnout shares (up to) (in shares)	7,500,000

Merger - Schedule of Reverse Re

Merger - Schedule of Reverse Recapitalization (Details) - USD ($) $ in Thousands	Jan. 21, 2021	Mar. 31, 2022	Mar. 31, 2021
Reverse Recapitalization [Abstract]
Cash - Acamar Partners’ trust and cash	$ 309,999
Cash - PIPE	125,000	$ 0	$ 125,000
Less: consideration delivered to existing shareholders of Former CarLotz	(62,693)	0	(62,693)
Less: consideration to pay accrued dividends	(4,853)
Less: transaction costs and advisory fees paid	(47,579)	$ 0	$ (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 - Merger Warrants (Detai

Merger - Merger Warrants (Details)	Mar. 31, 2022shares
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
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Lease income, net	$ 146	$ 107
Total Revenues	63,014	56,612
Retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	50,588	50,383
Wholesale vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	8,575	4,568
Finance and insurance, net
Disaggregation of Revenue [Line Items]
Revenue	3,705	1,554
Vehicle Sales
Disaggregation of Revenue [Line Items]
Revenue	$ 62,868	$ 56,505

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenues and Cost of Sale by Product (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Gross Profit	$ 2,078	$ 2,008
Retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	50,588	50,383
Vehicle cost of sales	52,415	48,917
Gross Profit	(1,827)	1,466
Wholesale vehicle sales
Disaggregation of Revenue [Line Items]
Revenue	8,575	4,568
Vehicle cost of sales	8,521	5,687
Gross Profit	$ 54	$ (1,119)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - 3 months ended Mar. 31, 2022	Total	retailHub	position	mi
Revenue from Contract with Customer [Abstract]
Number of retail hub locations		22	22
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	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	$ 74,694	$ 118,065
Gross Unrealized Gains	9	7
Gross Unrealized Losses	(175)	(100)
Fair Value	74,528	117,972
U.S. Treasuries
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	0	0
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	30,216	57,460
Gross Unrealized Gains	2	0
Gross Unrealized Losses	(114)	(72)
Fair Value	30,104	57,388
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	21,990	28,325
Gross Unrealized Gains	5	5
Gross Unrealized Losses	(40)	(10)
Fair Value	21,955	28,320
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	19,997	19,989
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	19,997	19,989
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost/​ Cost Basis	2,491	12,291
Gross Unrealized Gains	2	2
Gross Unrealized Losses	(21)	(18)
Fair Value	$ 2,472	$ 12,275

Marketable Securities - Amortiz

Marketable Securities - Amortized Cost and Fair Value of Fixed Maturity Debt Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Amortized Cost
Due in one year or less	$ 73,667
Due after one year through five years	731
Due after five years through ten years	296
Amortized Cost/​ Cost Basis	74,694	$ 118,065
Fair Value
Due in one year or less	73,557
Due after one year through five years	694
Due after five years through ten years	277
Fair Value	$ 74,528	$ 117,972

Marketable Securities - Gross U

Marketable Securities - Gross Unrealized Losses in Fixed Maturity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value
Less Than 12 Months	$ 51,415	$ 88,999
12 Months or More	459	716
Total	51,874	89,715
Unrealized Losses
Less Than 12 Months	(148)	(94)
12 Months or More	(27)	(6)
Total	(175)	(100)
Corporate bonds
Fair Value
Less Than 12 Months	29,890	56,902
12 Months or More	209	376
Total	30,099	57,278
Unrealized Losses
Less Than 12 Months	(98)	(69)
12 Months or More	(16)	(3)
Total	(114)	(72)
Municipal bonds
Fair Value
Less Than 12 Months	19,289	19,945
12 Months or More	133	340
Total	19,422	20,285
Unrealized Losses
Less Than 12 Months	(32)	(7)
12 Months or More	(8)	(3)
Total	(40)	(10)
Foreign governments
Fair Value
Less Than 12 Months	2,236	12,152
12 Months or More	117	0
Total	2,353	12,152
Unrealized Losses
Less Than 12 Months	(18)	(18)
12 Months or More	(3)	0
Total	$ (21)	$ (18)

Marketable Securities - Narrati

Marketable Securities - Narrative (Details) $ in Thousands	Mar. 31, 2022USD ($)position	Dec. 31, 2021USD ($)position
Investments, Debt and Equity Securities [Abstract]
Number of securities, unrealized losses 12 months or longer | position	16	23
Unrealized losses , 12 months or longer	$ 27	$ 6
Number of securities, unrealized losses, less than 12 months | position	99	106
Unrealized losses less than 12 months	$ 148	$ 94
Gross unrealized loss position greater than	$ 21	$ 12
Amortized cost, percentage	0.70%	0.40%

Marketable Securities - Equity

Marketable Securities - Equity Securities Cost (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Equity securities, cost	$ 430	$ 432
Equity securities	$ 552	$ 558

Marketable Securities - Proceed

Marketable Securities - Proceeds from Sale of Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Fixed maturity debt securities	$ 64,911	$ 59
Proceeds from equity securities	0	0
Proceeds from sales of marketable securities	64,911	59
Fixed maturity debt securities, gross realized gains	0	0
Equity securities, gross realized gains	0	0
Total marketable securities, gross realized gains	0	0
Fix maturity debt securities, gross realized losses	0	0
Equity securities, gross realized losses	0	0
Total marketable securities, gross realized losses	0	0
Fixed maturity debt securities, net realized losses	0	0
Equity securities, net realized losses	0	0
Total marketable securities, net realized losses	$ 0	$ 0

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	Mar. 31, 2022	Dec. 31, 2021
Assets:
Equity securities	$ 552	$ 558
Fixed maturity debt securities, including cash equivalents	74,528	117,972
Fair Value, Recurring
Assets:
Money market funds	0	0
Equity securities	552	558
Fixed maturity debt securities, including cash equivalents	118,347	135,346
Total Assets	118,899	135,904
Liabilities:
Merger warrants liability		6,291
Total Liabilities	8,341	13,970
Fair Value, Recurring | Merger warrants liability
Liabilities:
Merger warrants liability	4,691
Fair Value, Recurring | Earnout shares liability
Liabilities:
Earnout shares liability	3,650	7,679
Fair Value, Recurring | Level 1
Assets:
Money market funds	0	0
Equity securities	552	558
Fixed maturity debt securities, including cash equivalents	0	0
Total Assets	552	558
Liabilities:
Merger warrants liability		3,941
Total Liabilities	2,939	3,941
Fair Value, Recurring | Level 1 | Merger warrants liability
Liabilities:
Merger warrants liability	2,939
Fair Value, Recurring | Level 1 | Earnout shares liability
Liabilities:
Earnout shares liability	0	0
Fair Value, Recurring | Level 2
Assets:
Money market funds	0	0
Equity securities	0	0
Fixed maturity debt securities, including cash equivalents	118,347	135,346
Total Assets	118,347	135,346
Liabilities:
Merger warrants liability		2,350
Total Liabilities	1,752	2,350
Fair Value, Recurring | Level 2 | Merger warrants liability
Liabilities:
Merger warrants liability	1,752
Fair Value, Recurring | Level 2 | Earnout shares liability
Liabilities:
Earnout shares liability	0	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:
Merger warrants liability		0
Total Liabilities	3,650	7,679
Fair Value, Recurring | Level 3 | Merger warrants liability
Liabilities:
Merger warrants liability	0
Fair Value, Recurring | Level 3 | Earnout shares liability
Liabilities:
Earnout shares liability	$ 3,650	$ 7,679

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Reconciliation of Redeemable Convertible Preferred Stock and Warrant Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 7,679	$ 2,976
Issuances	0	74,284
Settlements	0	(2,976)
Change in fair value	(4,029)	(31,846)
Ending Balance	3,650	42,438
Redeemable convertible preferred stock tranche obligation
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance		2,832
Issuances		0
Settlements		(2,832)
Change in fair value		0
Ending Balance		0
Historic warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance		144
Issuances
Settlements		(144)
Change in fair value		0
Ending Balance		0
Earnout shares
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	7,679	0
Issuances	0	74,284
Settlements	0	0
Change in fair value	(4,029)	(31,846)
Ending Balance	$ 3,650	$ 42,438

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Significant Inputs Used Valuing Earnout Shares (Details)	Jan. 21, 2021$ / shares	Mar. 31, 2022$ / shares	Mar. 31, 2021$ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (in years)	5 years	3 years 8 months 12 days	4 years 8 months 12 days
Risk-free interest rate	0.45%	2.44%	0.87%
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected volatility	0.8000	0.8500	0.8000
Starting stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Starting stock price (in dollars per share)	$ 11.31	$ 1.37	$ 7.13
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout hurdle (in dollars per share)	12.50	12.50	12.50
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout hurdle (in dollars per share)	$ 15	$ 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	Dec. 31, 2021	Mar. 10, 2021
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 40,000	$ 40,000	$ 30,000
Increase borrowing capacity	$ 10

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 7,192	$ 8,506
Allowance for doubtful accounts	(270)	(300)
Total Accounts Receivable, net	6,922	8,206
Contracts in transit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	6,117	7,836
Trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1	386
Finance commission
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	593	284
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 481	$ 0

Inventory and Floor Plan_Notes

Inventory and Floor Plan Notes Payable - Inventory Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Used vehicles	$ 45,846	$ 40,739
Parts	249	246
Total	$ 46,095	$ 40,985

Inventory and Floor Plan_Note_2

Inventory and Floor Plan Notes Payable - Narrative (Details) - USD ($) $ in Thousands	Mar. 10, 2021	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021
Prime Rate
Inventory [Line Items]
Interest rate		3.50%
Floor Plan Credit Facility | Revolving Credit Facility | Line of Credit | Ally Financial
Inventory [Line Items]
Floor plan credit facility	$ 30,000		$ 40,000	$ 40,000
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	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Capital lease assets		$ 12,566
Property, plant and equipment, gross	$ 15,738	25,345
Less: accumulated depreciation	(2,696)	(2,609)
Less: impairment	0	(108)
Property and Equipment, net	13,042	22,628
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	8,030	4,628
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,570	7,993
Corporate vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 138	$ 158

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 584	$ 105

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Current Assets:
Lease receivable, net	$ 29	$ 29
Deferred acquisition costs	40	46
Prepaid expenses	10,133	3,664
Interest receivable	539	966
Total Other Current Assets	10,741	4,705
Other Assets:
Lease receivable, net	16	16
Deferred acquisition costs	30	35
Security deposits	507	507
Total Other Assets	$ 553	$ 558

Long-term Debt - Summary of Deb

Long-term Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Capital lease obligation	$ 0	$ 12,715
Finance lease liabilities	12,640	0
Total	12,640	12,715
Current portion of finance lease liabilities	0	(509)
Current portion of finance lease liabilities	(560)	0
Long-term Debt	$ 12,080	$ 12,206

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($) $ in Thousands	Jan. 21, 2021	Dec. 31, 2020	Apr. 20, 2020
Debt Instrument [Line Items]
KAR/AFC note payable conversion (in shares)	347,992
Warrant exercised into shares (in shares)	73,869
Convertible notes payable
Debt Instrument [Line Items]
Payment of debt	$ 3,000
Long-term debt, gross		$ 3,500
Interest rate		6.00%
Interest rate, basis term		365 days
Interest payable		$ 212
Paycheck Protection Program loan
Debt Instrument [Line Items]
Long-term debt		$ 1,749	$ 1,749

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
License and title fees	$ 784	$ 903
Payroll and bonuses	4,564	2,047
Deferred rent	0	1,636
Technology	1,120	1,127
Inventory	3,612	2,542
Other	4,289	6,173
Total Accrued Expenses	$ 14,369	$ 14,428

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Liabilities, Current
Unearned insurance premiums	$ 662	$ 754
Other Liabilities
Unearned insurance premiums	530	622
Other long-term liabilities	121	122
Other liabilities	$ 651	$ 744

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)position
Minimum
Lessee, Lease, Description [Line Items]
Monthly rental payments	$ 3
Lease terms	5 years
Lease, number of renewal options | position	1
Lease renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Monthly rental payments	$ 70
Lease terms	15 years
Lease renewal term	5 years
Vehicles | Minimum
Lessee, Lease, Description [Line Items]
Lease terms	36 months
Monthly operating lease rental payments	$ 229
Vehicles | Maximum
Lessee, Lease, Description [Line Items]
Lease terms	72 months
Monthly operating lease rental payments	$ 2,356

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Leases [Abstract]
Operating lease cost	$ 2,435
Finance lease cost:
Depreciation of lease assets	263
Interest on lease liabilities	287
Total finance lease cost	550
Total lease cost	$ 2,985

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Infomation (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets:
Operating lease assets	$ 49,608
Finance lease assets	11,811
Total lease assets	61,419
Current:
Current portion of operating lease liabilities	6,810
Current portion of finance lease liabilities	560	$ 509
Long-term:
Operating leases, less current portion	45,076
Finance leases, less current portion	12,080	$ 12,206
Total lease liabilities	64,526
Finance lease, accumulated amortization	$ 755

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Mar. 31, 2022
Weighted Average Remaining Lease Term (in years)
Operating leases	8 years 3 days
Finance leases	11 years 11 months 1 day
Weighted Average Discount Rate
Operating leases	5.87%
Finance leases	10.01%

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,308
Operating cash flows from finance leases	287
Financing cash flows from finance leases	126	$ 0
Lease assets obtained in exchange for lease obligation
Operating leases	51,916
Finance leases	$ 0

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Fiscal 2022, remaining	$ 7,118
Fiscal 2023	9,268
Fiscal 2024	8,518
Fiscal 2025	7,887
Fiscal 2026	6,875
Thereafter	26,074
Total	65,740
Less: interest	(13,854)
Present value of lease liabilities	51,886
Finance Lease, Liability, Payment, Due [Abstract]
Fiscal 2022, remaining	1,281
Fiscal 2023	1,669
Fiscal 2024	1,694
Fiscal 2025	1,721
Fiscal 2026	1,766
Thereafter	14,322
Total lease payments	22,453
Less: interest	(9,813)
Present value of lease liabilities	$ 12,640	$ 0

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturities of Lease Liabilities Under Previous Lease Accounting Standard (Details) $ in Thousands	Dec. 31, 2021USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 6,788
2023	6,931
2024	6,657
2025	6,832
2026	5,884
Thereafter	23,715
Total	56,807
Total Capital Leases
2022	1,643
2022	1,669
2023	1,695
2024	1,721
2025	1,766
Thereafter	14,322
Total	22,816
Less: amount representing interest	(10,101)
Present value of minimum lease payments	12,715
Less: current obligation	(509)
Long-term obligations under capital lease	$ 12,206

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments and Receipts for Lease Vehicles (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payments Due to Third-Parties
2022		$ 6,788
2023		6,931
2024		6,657
2025		6,832
2026		5,884
Total		$ 56,807
Assets Leased to Others
Payments Due to Third-Parties
2022	$ 1,435
2023	1,017
2024	605
2025	180
2026	55
Total	3,292
Future Receipts
2022	1,721
2023	1,205
2024	716
2025	216
2026	69
Total	$ 3,927

Commitment and Contingencies (D

Commitment and Contingencies (Details)	Aug. 31, 2021position
In re CarLotz, Inc. Securities Litigation, Case No. 1:21-cv-05906-RA
Loss Contingencies [Line Items]
Number of cases consolidated	3

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Temporary Equity [Line Items]
Redeemable convertible preferred stock	$ 0		$ 0	$ 0
Previously Reported
Temporary Equity [Line Items]
Redeemable convertible preferred stock		$ 0		17,560
Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
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 ($)employeepositiontradingDay$ / sharesshares	Mar. 31, 2022USD ($)stockIncentivePlan$ / sharesshares	Mar. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2021$ / shares	Dec. 31, 2020$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans | stockIncentivePlan		3
Stock-based compensation expense | $		$ 1,684	$ 41,963
Options outstanding, intrinsic value (in usd per share)		$ 0.80
Options exercisable, intrinsic value (in usd per share)		$ 0.80
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)	$ 12.50
Earnout shares, earnout period, threshold trading days | tradingDay	20
Earnout shares, earnout period, threshold trading day period | tradingDay	30
Earnout shares, earnout period, release of shares, percentage	50.00%
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)	$ 15
Earnout shares, earnout period, threshold trading days | tradingDay	20
Earnout shares, earnout period, threshold trading day period | tradingDay	30
Earnout shares, earnout period, release of shares, percentage	50.00%
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)	$ 10
Earnout RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $		$ 0
Granted (in usd per share)		$ 0	$ 10.70
Earnout restricted stock units received (in shares) | shares	640,421	0	640,421
Unrecognized compensation costs related to RSUs | $		$ 0
2011 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $		$ 1,684	$ 41,963
Options outstanding exercise price (in usd per share)		$ 0.57	$ 0.58	$ 0.56	$ 0.59
2017 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, intrinsic value (in usd per share)		0.45
Options exercisable, intrinsic value (in usd per share)		0.45
Options outstanding exercise price (in usd per share)		$ 0.92	0.92	0.92	0.92
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 | $		$ 249
Modification, number of employees impacted | position	16
Plan modification, options, cash consideration | $	$ 186
Plan modification, options, compensation recognized | $	$ 4,500
2020 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $		$ 908
Options outstanding, intrinsic value (in usd per share)		$ 0
Options exercisable, intrinsic value (in usd per share)		0
Options outstanding exercise price (in usd per share)		$ 6.13	$ 11.35	$ 11.12	$ 0
Unrecognized compensation cost related to unvested option | $		$ 8,609
2020 Stock Option Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (in usd per share)		$ 1.17
2020 Stock Incentive Award Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
2020 Stock Incentive Award Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
2020 Stock Incentive Award Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $		$ 527
Unrecognized compensation cost related to unvested option | $		$ 1,454
Granted (in usd per share)		$ 1.68
Earnout restricted stock units received (in shares) | shares		1,235,437
2020 Stock Incentive Award Plan | Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in usd per share)		$ 1.68
2020 Stock Incentive Award Plan | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
2020 Stock Incentive Award Plan | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Unrecognized compensation cost related to unvested option | $		$ 2,047
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 | $		$ 164

Stock-Based Compensation Plan_2

Stock-Based Compensation Plan - Summary of 2011, 2017 and 2020 Stock Option Plan Activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Number of Stock Options
Exercised (in shares)	(50,964)
Weighted Average Exercise Price
Exercised (in usd per share)	$ 0.32
2011 Stock Option Plan
Number of Stock Options
Beginning Balance (in shares)	1,260,328	1,571,205
Granted (in shares)	0	0
Exercised (in shares)		(56,059)
Forfeited (in shares)	0	0
Ending Balance (in shares)	1,209,364	1,515,146
Vested (in shares)	1,209,364	1,515,146
Exercisable (in shares)	1,209,364
Weighted Average Exercise Price
Beginning Balance (in usd per share)	$ 0.56	$ 0.59
Granted (in usd per share)	0	0
Exercised (in usd per share)		0.24
Forfeited (in usd per share)	0	0
Ending Balance (in usd per share)	0.57	0.58
Vested (in usd per share)	0.57	$ 0.58
Exercisable (in usd per share)	$ 0.57
2017 Stock Option Plan
Number of Stock Options
Beginning Balance (in shares)	3,936,176	3,961,658
Granted (in shares)	0	0
Exercised (in shares)	(6,371)
Forfeited (in shares)	(19,111)	0
Ending Balance (in shares)	3,910,694	3,961,658
Exercisable (in shares)	3,631,681
Weighted Average Exercise Price
Beginning Balance (in usd per share)	$ 0.92	$ 0.92
Granted (in usd per share)	0	0
Exercised (in usd per share)	0.92
Forfeited (in usd per share)	0.92	0
Ending Balance (in usd per share)	0.92	$ 0.92
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)	1,469,297	0
Granted (in shares)	1,573,361	1,409,401
Forfeited (in shares)	(74,626)	0
Ending Balance (in shares)	2,968,032	1,409,401
Vested (in shares)	388,691
Exercisable (in shares)	388,691
Weighted Average Exercise Price
Beginning Balance (in usd per share)	$ 11.12	$ 0
Granted (in usd per share)	1.68	11.35
Forfeited (in usd per share)	10.47	0
Ending Balance (in usd per share)	6.13	$ 11.35
Exercisable (in usd per share)	$ 11.34

Stock-Based Compensation Plan_3

Stock-Based Compensation Plan - Summary of Stock Options Vested and Expected to Vest (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
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)	1,209,364	1,260,328	1,515,146	1,571,205
Options exercisable, number of stock options (in shares)	1,209,364
Options outstanding, weighted average remaining contractual life (in years)	5 months 1 day
Options exercisable, weighted average remaining contractual life (in years)	5 months 1 day
Options outstanding exercise price (in usd per share)	$ 0.57	$ 0.56	$ 0.58	$ 0.59
Options exercisable, weighted average exercise price (in usd per share)	$ 0.57
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)	3,910,694	3,936,176	3,961,658	3,961,658
Options exercisable, number of stock options (in shares)	3,631,681
Options outstanding, weighted average remaining contractual life (in years)	7 years 3 months 18 days
Options exercisable, weighted average remaining contractual life (in years)	7 years 2 months 15 days
Options outstanding exercise price (in usd per share)	$ 0.92	$ 0.92	$ 0.92	$ 0.92
Options exercisable, weighted average exercise price (in usd per share)	$ 0.92
2020 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)	2,968,032	1,469,297	1,409,401	0
Options exercisable, number of stock options (in shares)	388,691
Options outstanding, weighted average remaining contractual life (in years)	9 years 2 months 12 days
Options exercisable, weighted average remaining contractual life (in years)	7 years 3 months 7 days
Options outstanding exercise price (in usd per share)	$ 6.13	$ 11.12	$ 11.35	$ 0
Options exercisable, weighted average exercise price (in usd per share)	$ 11.34

Stock-Based Compensation Plan_4

Stock-Based Compensation Plan - Inputs Used (Details)	3 Months Ended
	Mar. 31, 2022
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 dividend yield	0.00%
Expected term (in years)	6 years
Risk-free interest rate	0.022%
2020 Stock Incentive Award Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	80.00%

Stock-Based Compensation Plan_5

Stock-Based Compensation Plan - Restricted Stock Unit Activity (Details) - $ / shares	Jan. 21, 2021	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock Units | 2020 Stock Incentive Award Plan
Number of Units
Beginning Balance (in shares)		597,739
Granted (in shares)		1,235,437
Forfeited (in shares)		(54,208)
Vested Balance (in shares)		(71,273)
Ending Balance (in shares)		1,707,695
Weighted Average grant date fair value
Beginning Balance (in usd per share)		$ 5.57
Granted (in usd per share)		1.68
Forfeited (in usd per share)		5.56
Vested (in usd per share)		5.69
Ending Balance (in usd per share)		$ 2.75
Earnout RSUs
Number of Units
Beginning Balance (in shares)		621,200	0
Granted (in shares)	640,421	0	640,421
Forfeited (in shares)		(141,350)	0
Ending Balance (in shares)		479,850	640,421
Weighted Average grant date fair value
Beginning Balance (in usd per share)		$ 10.70	$ 0
Granted (in usd per share)		0	10.70
Forfeited (in usd per share)		10.70	0
Ending Balance (in usd per share)		$ 10.70	$ 10.70

Stock-Based Compensation Plan_6

Stock-Based Compensation Plan - Inputs Used for Earnout RSUs (Details)	Jan. 21, 2021$ / shares	Mar. 31, 2022$ / shares	Mar. 31, 2021$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years	3 years 8 months 12 days	4 years 8 months 12 days
Risk-free interest rate	0.45%	2.44%	0.87%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnout hurdle (in dollars per share)	$ 12.50	$ 12.50	$ 12.50
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnout hurdle (in dollars per share)	$ 15	$ 15	$ 15
Expected volatility
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	0.8000	0.8500	0.8000
Starting stock price
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Starting stock price (in dollars per share)	$ 11.31	$ 1.37	$ 7.13

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
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss	$ (24,836)	$ (15,022)
Denominator:
Weighted average common shares outstanding, basic (in shares)	114,054,597	100,817,385
Weighted average common shares outstanding, diluted (in shares)	114,054,597	100,817,385
Net Loss per Share Attributable to Common Stockholders, basic (in dollars per share)	$ (0.22)	$ (0.15)
Net Loss per Share Attributable to Common Stockholders, diluted (in dollars per share)	$ (0.22)	$ (0.15)

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
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	33,481,451	30,732,442
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	10,185,774
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	6,074,310
Earnout RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	479,850	640,421
Earnout shares liability
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	6,945,732
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	0
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	0
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)	8,088,090	6,886,205
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,707,695	0

Concentrations (Details)

Concentrations (Details) - Supplier Concentration Risk - Cost of Goods and Service Benchmark	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Vendor A
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%	62.00%
Vendor B
Concentration Risk [Line Items]
Concentration risk, percentage	0.00%	0.00%