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RumbleOn, Inc. Class B - RMBL STOCK NEWS

Welcome to our dedicated page for RumbleOn Class B news (Ticker: RMBL), a resource for investors and traders seeking the latest updates and insights on RumbleOn Class B stock.

RumbleOn, Inc. (symbol: RMBL) is a dynamic e-commerce platform specializing in the buying, selling, trading, and financing of pre-owned recreational vehicles. The company serves both consumers and dealers, offering a streamlined and transparent marketplace for motorcycles, cars, trucks, and other powersports vehicles.

Based in the USA, RumbleOn operates through three primary segments: powersports, automotive, and vehicle logistics. The powersports segment, which is the largest revenue driver, focuses on the distribution of motorcycles and other recreational vehicles. The automotive segment handles the distribution of pre-owned cars and trucks. Additionally, the vehicle logistics segment provides nationwide transportation services, ensuring efficient vehicle movement between dealerships and auctions.

Recent Achievements and Projects

  • RumbleOn has launched new features aimed at enhancing user experience by making the buying and selling process more engaging and transparent.
  • The platform has expanded its inventory, offering a wider variety of pre-owned vehicles to meet diverse consumer needs.
  • Ongoing partnerships with major dealerships and auctions have strengthened RumbleOn’s market presence and operational efficiency.

Financial Condition

RumbleOn has demonstrated solid financial performance, with significant revenue contributions from the powersports and automotive segments. The company's focus on operational efficiency and strategic partnerships has positioned it as a trusted leader in the pre-owned vehicle market.

Core Values

RumbleOn is dedicated to providing an efficient, fast, and transparent experience for users. The company's commitment to innovation and customer satisfaction is evident in its continuous platform enhancements and expanding service offerings.

For more updates and latest news on RumbleOn, Inc., stay tuned to our platform where we provide real-time information about the company's performance and new developments.

Rhea-AI Summary

Octane and RideNow have partnered to launch RideNow Finance, a branded financing solution for RideNow's 56 retail stores. The partnership enables customers to finance over 18,000 new and pre-owned vehicles through RideNow's private label financing program. RumbleOn's dealerships can now leverage Octane's digital tools and full-spectrum financing experience under their brand, run branded promotions, and integrate financing messaging into marketing initiatives. The partnership represents the only private label branded financing for a dealership group in the nearly $30 billion powersports market. Loans will be originated through Octane's in-house lender, Roadrunner Financial.

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RumbleOn (NASDAQ: RMBL) reported Q2 2024 financial results, showing a 12% decrease in revenue to $336.8 million compared to Q2 2023. The company narrowed its net loss to $0.7 million from $13.6 million year-over-year. Adjusted EBITDA decreased 19.8% to $16.2 million. Despite industry challenges, RumbleOn achieved positive free cash flow of $28.2 million in the first half of 2024, compared to $(11.6) million in 2023. The company reduced Non-Vehicle Net Debt by $33.8 million and executed its Vision 2026 strategy, expected to yield $30 million in annualized savings. RumbleOn's powersports segment saw a 12.8% decline in total retail unit sales, with new unit sales down 8.5% and pre-owned sales down 21.9%.

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RumbleOn (NASDAQ: RMBL) has announced the schedule for its second quarter 2024 earnings release and conference call. The company will release its operational and financial results before the market opens on Wednesday, August 7, 2024. A conference call and webcast are scheduled for the same day at 7:00 a.m. Central Time (8:00 a.m. Eastern Time) to discuss the results.

The call will be hosted by Mike Kennedy, Chief Executive Officer, and Tiffany Kice, Chief Financial Officer. Investors can join the conference call by dialing 1-646-307-1865 (US callers) or 1-800-717-1738 (international callers) with the Conference ID: 16525. A live and archived webcast will also be available on the company's Investor Relations website.

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RumbleOn (NASDAQ: RMBL) has appointed Tiffany Kice as the new Chief Financial Officer (CFO), effective June 24, 2024. Kice brings over 25 years of financial leadership experience, particularly in multi-site retail. She joins from Pegasus Logistics Group, where she served as CFO since 2020. Her background includes strategic financial planning, risk management, and leadership in IT, finance, and human resources. CEO Mike Kennedy expressed confidence in Kice's fit for RumbleOn's transformation and growth strategies. Kice is excited to contribute to RumbleOn's evolution and value delivery to customers and shareholders.

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RumbleOn, Inc. (NASDAQ: RMBL) reported its first quarter 2024 financial results, showing an 8.3% improvement in Adjusted EBITDA despite an 8.0% decrease in revenue. The company achieved an operating income of $5.2 million, a significant improvement from last year. With new powersports unit retail sales slightly up and pre-owned sales down, RumbleOn faced challenges in the tough macro environment. The CEO, Mike Kennedy, highlighted the company's turnaround efforts with impressive results.

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RumbleOn, Inc. (NASDAQ: RMBL) announces the release of its first quarter 2024 operational and financial results on May 8, 2024. A conference call with CEO Mike Kennedy and CFO Blake Lawson will be held to discuss the results.
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RumbleOn (RMBL) unveils Vision 2026, aiming for annual revenue over $1.7 billion by 2026. The plan targets annual adjusted EBITDA exceeding $150 million and free cash flow of $90 million. Strategic pillars include best-performing dealerships, leveraging RideNow Cash Offer Tool, and maximizing per share value.
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RumbleOn, Inc. (NASDAQ: RMBL) announced results for Q4 and full year 2023, with a total revenue of $311.1 million for Q4, down 6.2% from the prior year. The company raised $100 million through a rights offering and paid down $50 million of debt in the quarter, showcasing financial stability and strategic planning. Despite revenue declines, the company aims for future growth with the introduction of a 3-year operating plan called Vision 2026, targeting annual revenue over $1.7 billion, annual Adjusted EBITDA exceeding $150 million, and annual Adjusted Free Cash Flow of $90 million or more. The company withdrew its prior guidance for 2024, focusing on executing the Vision 2026 plan to drive per-share value in the coming years.
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RumbleOn, Inc. (RMBL) is set to release its fourth quarter and full year 2023 operational and financial results on March 14, 2024. The company operates through RideNow Powersports and Wholesale Express segments. A conference call and webcast will be held to discuss the results.
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RumbleOn appoints Brandy Treadway as Senior Vice President and Chief Legal Officer, bringing over two decades of legal expertise to lead legal and human resources functions. Treadway's background includes executive roles at J.C. Penney and Martin Powers & Counsel, PLLC. She holds a Juris Doctor from SMU Dedman School of Law and two BA degrees from the University of Virginia.
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FAQ

What is the current stock price of RumbleOn Class B (RMBL)?

The current stock price of RumbleOn Class B (RMBL) is $5.18 as of November 5, 2024.

What is the market cap of RumbleOn Class B (RMBL)?

The market cap of RumbleOn Class B (RMBL) is approximately 183.0M.

What does RumbleOn, Inc. specialize in?

RumbleOn specializes in buying, selling, trading, and financing pre-owned recreational vehicles.

Which segments does RumbleOn operate in?

RumbleOn operates in powersports, automotive, and vehicle logistics segments.

What is the primary revenue driver for RumbleOn?

The powersports segment, focusing on motorcycles and other recreational vehicles, is the primary revenue driver.

What kind of vehicles can I find on RumbleOn's platform?

You can find pre-owned motorcycles, cars, trucks, and other powersports vehicles on RumbleOn's platform.

How does RumbleOn ensure transparency in transactions?

RumbleOn features a streamlined and transparent buying and selling process, enhanced by recent platform updates.

Does RumbleOn offer nationwide transportation services?

Yes, RumbleOn provides nationwide vehicle logistics and transportation services between dealerships and auctions.

What recent achievements has RumbleOn accomplished?

RumbleOn has launched new platform features, expanded its inventory, and strengthened partnerships with major dealerships and auctions.

How is RumbleOn's financial performance?

RumbleOn has shown solid financial performance with significant revenue contributions from its powersports and automotive segments.

What core values does RumbleOn emphasize?

RumbleOn emphasizes providing an efficient, fast, and transparent experience for users while focusing on innovation and customer satisfaction.

Where can I find the latest news about RumbleOn?

You can find the latest news and updates about RumbleOn on our platform, which offers real-time information on the company's developments.

RumbleOn, Inc. Class B

Nasdaq:RMBL

RMBL Rankings

RMBL Stock Data

183.03M
35.29M
41.61%
42.17%
3.4%
Auto & Truck Dealerships
Services-computer Programming Services
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United States of America
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