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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) acknowledged a press release from former directors William Coulter and Mark Tkach, who intend to nominate five candidates for three board seats at the upcoming 2023 Annual Meeting of Shareholders. The company confirmed its commitment to appropriate processes regarding these nominations and other governance proposals. Shareholders are not required to take any action at this time. The Board emphasizes its dedication to shareholder communication and long-term value creation.
William Coulter and Mark Tkach, who own approximately 32.5% of Class B shares of RumbleOn (RMBL), have nominated five candidates for three board seats in an open letter to stockholders. Since their resignation in February 2022, RMBL shares have declined by 80.4%, prompting concerns over governance and poor shareholder returns. They criticized the existing board for ignoring their requests for clearer operational guidance and transparency around inventory management, leading to deteriorating financial performance. In pursuit of change, they advocate for a board refresh and separation of the Chairman and CEO roles at the upcoming annual meeting.
RumbleOn, Inc. (NASDAQ: RMBL) has announced that its Chairman & CEO, Marshall Chesrown, and CFO, Blake Lawson, will participate in a fireside chat at the D.A. Davidson 6th Annual Consumer Growth Conference. This event will take place on Tuesday, March 21, 2023, at 8:00 a.m. Eastern Time in New York. The discussion will be webcast live through the Investor Relations section of RumbleOn's website. RumbleOn is recognized as the first technology-based omnichannel powersports platform, aiming to merge digital and physical customer experiences.
RumbleOn, Inc. (NASDAQ: RMBL) is set to announce its fourth quarter and full year 2022 operational and financial results on March 16, 2023, before market opening. A conference call will occur at 7:30 a.m. Central Time (8:30 a.m. Eastern Time) to discuss these results. RumbleOn, headquartered in the Dallas Metroplex, is recognized as the first technology-based omnichannel powersports platform in the U.S., aiming to enhance customer experience by integrating physical and digital assets seamlessly.
RumbleOn, Inc. has announced the promotion of Blake Lawson to Chief Financial Officer, effective January 19, 2023. Lawson brings over 20 years of experience in financial leadership within the powersports industry, having previously served as CFO for RideNow and American Powersports. He will lead RumbleOn's financial strategy, accounting, tax, treasury, and financial operations, contributing to the company's long-term growth and profitability. His appointment is expected to strengthen RumbleOn's management team, enhancing its focus on higher margin segments. Lawson replaces Narinder Sahai, who will transition to a special advisor role.
RumbleOn, Inc. (NASDAQ: RMBL) announced participation in a fireside chat at the 25th ICR Conference on January 9, 2023, at 11:30 a.m. ET. Company officials, including Chairman & CEO Marshall Chesrown and CFO Narinder Sahai, will discuss the innovative omnichannel powersports platform. The event will be webcast live via the Company’s Investor Relations website.
RumbleOn aims to enhance the customer experience by integrating digital and physical platforms in the powersports industry.
RumbleOn, the first technology-based omnichannel powersports platform, announces its participation in the Wolfe Research Consumer Growth Conference on December 6, 2022. The company will host a virtual fireside chat featuring CEO Marshall Chesrown and CFO Narinder Sahai at 9:35 a.m. Eastern Time. The event will be part of the Powersports Panel and accessible via RSVP to Wolfe Research. An archived audio and transcript will be available on RumbleOn's Investor Relations website.
RumbleOn reports Q3 2022 revenue of $470.3 million, with a gross profit of $116.3 million.
The Powersports Segment generated $385.4 million, while the Automotive Segment saw a revenue decline to $70.0 million.
Net income stood at $3.0 million or $0.19 per diluted share. Adjusted EBITDA was $25.7 million.
Full-year revenue outlook revised to $1.85 to $1.90 billion, primarily due to expected growth in Powersports.
RumbleOn, Inc. (NASDAQ: RMBL) has secured a $75 million credit facility from J.P. Morgan to finance used powersports inventory. This financing aims to enhance customer experience by providing a wider selection of vehicles. CFO Narinder Sahai emphasized the importance of access to quality inventory for growth, especially amidst tightening credit markets. J.P. Morgan's support is deemed a validation of RumbleOn's business model.
RumbleOn, Inc. (NASDAQ: RMBL) announced that it will release its third quarter 2022 financial and operational results on November 9, 2022, before market open. A conference call will be held on the same day at 7:30 a.m. Central Time to discuss the results with investors. RumbleOn, recognized as the first technology-based omnichannel powersports platform in the U.S., integrates digital and physical experiences to enhance customer interaction in the powersports industry.
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