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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.
RumbleOn, Inc. (NASDAQ: RMBL) announced it will release its Q1 2023 operational and financial results before the market opens on May 10, 2023. The company will hold a conference call and webcast at 7:30 a.m. Central Time to discuss these results.
RumbleOn, recognized as the nation's first technology-based omnichannel powersports platform, aims to enhance customer experience by integrating physical and digital environments. The announcement includes call-in details for stakeholders and a link for accessing a live or archived webcast from their Investor Relations website.
RumbleOn, Inc. (NASDAQ: RMBL) has announced that shareholders need not take any action regarding a preliminary proxy statement filed by former directors William Coulter and Mark Tkach. The Board of Directors emphasizes its commitment to enhancing shareholder value and consists of six experienced directors, four of whom are independent. The Board's Nominating and Corporate Governance Committee is reviewing candidates for two Class 2 seats up for election. A formal recommendation will be included in a proxy statement to be filed with the SEC for the upcoming 2023 Annual Meeting.
On April 5, 2023, William Coulter and Mark Tkach, holders of approximately 32.2% of RumbleOn's Class B shares, announced their intent to propose four qualified candidates for the Board of Directors at the 2023 Annual Meeting. Despite their prior executive roles, they felt their influence was marginalized, prompting their resignation in February 2022. RumbleOn faced an 82.3% decline in share price over the year leading to concerns regarding its cost structure and inventory management. They criticized the company for inadequate responses to operational issues and proposed changes to improve stockholder value through board refreshment.
RumbleOn, Inc. (NASDAQ: RMBL) reported record full-year and Q4 Powersports unit sales, totaling 81,037 units across segments, leading to $1.8 billion in revenue. The Powersports segment generated $1.4 billion, representing 78% of total revenue, with a gross profit of $429.9 million. Despite the strong sales, the company faced a net loss of $(261.5) million, largely due to a $350.3 million non-cash impairment charge. Adjusted net income was $37.3 million, with adjusted EBITDA at $120.1 million. RumbleOn has also executed over $15 million in SG&A cost reductions and formed a strategic partnership with Camping World (NYSE: CWH). The company maintains strong liquidity with $196.1 million available.
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