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Overview
RumbleOn Inc (RMBL) is a disruptive online retail and e-commerce platform that revolutionizes the way pre-owned recreational and automotive vehicles are bought, sold, traded, and financed. The company seamlessly integrates digital marketplace innovation with robust dealership operations in the powersports and automotive sectors. Featuring advanced technology and transparent processes, RumbleOn delivers a fast, efficient, and engaging experience for both consumers and dealers.
Business Model and Operations
RumbleOn operates through two complementary segments: its Powersports dealership group and Wholesale Express, LLC, an asset-light transportation services provider dedicated to the automotive industry. The Powersports group, recognized as a prominent entity in the U.S. marketplace, supports a network of franchises and dealerships offering a wide range of pre-owned vehicles, as well as related products including parts, apparel, accessories, and finance and insurance services. This group is primarily focused on the acquisition, distribution, and sale of pre-owned motorcycles, ATVs, and other powersports vehicles. In contrast, Wholesale Express extends the company’s reach into automotive logistics, effectively managing a vast transportation network between dealerships, auctions, and retail outlets to support vehicle movement across the nation.
Market Position and Value Proposition
As a key player in the online retail space for recreational vehicles, RumbleOn has established itself as a trusted hub for both individual consumers and dealerships. Its innovative approach is highlighted through the integration of branded finance solutions and digital tools crafted to streamline the vehicle financing process. This strategic combination enhances customer engagement through transparency and efficiency, setting RumbleOn apart from traditional dealerships. Leveraging technology, the company not only facilitates vehicle sales but also assists in the trade and finance components of the acquisition process, ensuring a holistic customer experience.
Key Differentiators
- Digital Marketplace Innovation: A user-centric platform that simplifies the buying and selling process with real-time, transparent transactions.
- Comprehensive Service Integration: Combining sales, financing, trade-in options, and transportation services offers a one-stop solution for acquiring pre-owned vehicles.
- Industry Expertise: Deep industry knowledge in both the powersports and automotive segments, supported by a nationwide network of dealerships and partners.
- Customer-Centric Approach: Establishes trust by providing clear, operational insights and a seamless e-commerce experience for varied customer profiles.
Operational Excellence and Strategic Focus
RumbleOn’s strategic focus lies in leveraging technological advancements to optimize dealership operations and maximize process efficiencies. By adopting a model that integrates digital retail, branded financing, and efficient logistics, the company ensures that customers benefit from an engaging, fast, and transparent experience. This multi-dimensional approach not only enhances transaction speed but also enables precise tracking of the vehicle lifecycle from acquisition to final sale, reinforcing its stature as a reliable intermediary within the high-value pre-owned vehicle market.
Industry Relevance and Competitive Landscape
The powersports and automotive retail markets are marked by dynamic consumer behavior, evolving financing models, and a demand for faster, technology-driven solutions. Against this backdrop, RumbleOn positions its business model to address the nuances of the pre-owned vehicle market by offering tailored digital experiences. While traditional dealerships often focus on localized sales, RumbleOn’s scalable and nationwide platform provides enhanced reach and operational flexibility, enabling it to compete with and complement established market players. Its emphasis on clear process integration and digital finance distinguishes its approach in a competitive landscape where customer experience is paramount.
Commitment to Transparency and Expertise
RumbleOn’s detailed operational framework underscores its commitment to transparency, efficiency, and customer satisfaction. By continuously aligning its services with evolving market needs, the company demonstrates expertise in managing complex transactions and streamlining vehicle distribution networks. The use of precise digital tools and data-driven insights not only reinforces operational robustness but also ensures that every transaction adheres to the highest standards of trust and accountability.
Conclusion
In summary, RumbleOn Inc stands as a comprehensive solution for the sale, acquisition, and financing of pre-owned recreational and automotive vehicles. By integrating digital innovation with strategic operational excellence, the company caters to a diverse customer base and upholds industry-leading practices. With its dual-segment approach, RumbleOn seamlessly connects consumers, dealerships, and logistics services, positioning itself as an essential entity in the modern, technology-driven automotive and powersports marketplace.
RumbleOn (NASDAQ: RMBL) has announced a three-year sponsorship extension for the Sturgis Motorcycle Rally, enhancing its presence in the powersport community. This partnership allows RumbleOn to engage directly with consumers, providing opportunities to buy, sell, or trade vehicles onsite. CEO Marshall Chesrown emphasized the company's commitment to making powersport ownership accessible. The event will feature brand interactions and entertainment, reinforcing RumbleOn's omnichannel experience in North America's powersports market.
RumbleOn, Inc. (NASDAQ: RMBL) reported impressive financial results for Q1 2021, showing a 48.1% increase in total revenue to $104.3 million compared to Q4 2020. Total vehicle sales rose 32.2% to 3,500 units, with automotive sales up 39.6%. Despite an operating loss of $(2.8) million, this was an improvement from the previous quarter. The company expects Q2 revenue between $140 million and $150 million, projecting significant year-over-year growth. The anticipated merger with RideNow is expected to strengthen RumbleOn's market presence.
RumbleOn (NASDAQ: RMBL) will announce its first quarter 2021 financial results on May 17, 2021, before market open. The company specializes in e-commerce solutions for pre-owned vehicles, providing technological tools to enhance dealers' operations and consumer experiences. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results. RumbleOn's innovative platform allows seamless transactions for buying, selling, trading, and financing vehicles online.
RumbleOn, Inc. (NASDAQ: RMBL) has successfully closed an underwritten public offering of 1,048,998 shares of its Class B Common Stock at $38.00 per share, generating gross proceeds of approximately $39.86 million, excluding discounts and commissions. The offering includes a 30-day option for underwriters to purchase an additional 157,349 shares. The net proceeds will be allocated for working capital and general corporate purposes. B. Riley Securities managed the offering, with legal counsel provided by Akerman LLP and Nelson Mullins Riley & Scarborough LLP.
RumbleOn, Inc. (NASDAQ: RMBL) announced a public offering of 1,048,998 shares of Class B Common Stock priced at $38.00 per share. The offering is aimed at raising funds for working capital and general corporate purposes, with an expected closing date of April 13, 2021. Additionally, the underwriters have an option to purchase up to 157,349 shares to cover over-allotments. The offering is registered with the SEC, and B. Riley Securities is acting as the sole book-running manager.
RumbleOn, Inc. (Nasdaq: RMBL) is proposing an underwritten public offering of its Class B Common Stock, subject to market conditions. The offering includes a 30-day option for underwriters to purchase an additional 15% of shares for over-allotments. Proceeds will be utilized for working capital and general corporate purposes. B. Riley Securities is the sole book-running manager for this initiative. The offering details are subject to change, and a prospectus supplement will be filed with the SEC.
RumbleOn (NASDAQ: RMBL), an ecommerce company, announced a merger with RideNow, the largest powersports dealer, creating a unique omnichannel customer experience in North America. This merger positions the combined company to dominate a $100+ billion market, leveraging RumbleOn's technology and RideNow's retail presence. The transaction is expected to drive significant revenue growth, cost synergies, and improve margins. In 2020, the combined entity generated approximately $1.3 billion in revenue. The merger is slated to close in Q2 or Q3 of 2021, requiring various regulatory and shareholder approvals.
RumbleOn, Inc (NASDAQ: RMBL) reported its financial results for the year ending December 31, 2020. Total revenue decreased to $416.4 million, down from $840.6 million in 2019, while total vehicle unit sales dropped to 18,024. However, gross profit increased by over 100% compared to 2019, reaching $31.6 million with a gross margin of 7.6%. RumbleOn's management emphasized the success of RumbleOn 3.0, contributing to improved margins and profitability. The net loss narrowed to $25 million, an improvement from $45.2 million in 2019. A conference call is scheduled for March 15, 2021, at 8:30 a.m. ET.
RumbleOn, Inc (NASDAQ: RMBL) reported record Q3 2020 results, achieving positive adjusted EBITDA for the first time. Revenue reached $117.3 million, up 39% from Q2, despite a decline in vehicle unit sales to 4,263. Gross profit was $16.8 million, with a gross margin of 14.3%, highlighting a substantial year-over-year improvement. The company launched RumbleOn 3.0 and expanded listings to include boats and RVs. However, inventory challenges and COVID-19 uncertainties may impact future sales, leading management to withhold guidance until conditions stabilize.
RumbleOn (NASDAQ: RMBL) will release its third quarter 2020 financial results before market opens on November 10, 2020. A conference call is scheduled for 8:30 a.m. ET that day to discuss these results. Investors can access the live webcast on RumbleOn's Investor Relations website, with an audio replay available until November 15, 2020. RumbleOn specializes in efficiently distributing pre-owned vehicles, enhancing consumer and dealer transactions through innovative technology solutions.
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