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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) 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.
RumbleOn generated record revenue of $546.1 million in Q2 2022, marking over half a billion in a quarter for the first time. Gross profit reached $138.0 million, a 31% sequential increase. The diluted EPS was reported at $0.87, with adjusted EPS at $1.20. Total unit sales rose to 23,330, a 20.4% increase, fueled by a 23.6% rise in powersports unit sales. The company reaffirmed its 2022 revenue guidance between $1.9 billion and $2.0 billion, along with adjusted EBITDA expectations of at least $145 million.
RumbleOn, Inc. (NASDAQ: RMBL) will release its second quarter 2022 operational and financial results on August 9, 2022, before the market opens. A conference call is scheduled for 7:30 a.m. Central Time to discuss the results. Investors can join the call by dialing 1-855-327-6837 in the U.S. or 1-631-891-4304 internationally, using Conference ID: 10019789. The event will also be available via a live and archived webcast on RumbleOn’s Investor Relations website.
RumbleOn, Inc. (NASDAQ: RMBL) has appointed Ms. Shin Lee to its Board of Directors, enhancing the Board's expertise as it now consists of seven members, five of whom are independent. Ms. Lee brings nearly 20 years of experience from firms such as Block Inc. and Wells Fargo, and will serve on both the Nominating and Corporate Governance Committee and the Compensation Committee. CEO Marshall Chesrown expressed confidence in her ability to drive profitable growth and shareholder value. Ms. Lee aims to help RumbleOn deliver innovative customer choices in the evolving powersports industry.
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