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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 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.
RumbleOn, Inc. (NASDAQ: RMBL) has secured a 10-year exclusive Sponsorship Agreement with the City of Sturgis, South Dakota for its renowned Motorcycle Rally, attracting 555,000 attendees in 2021. This agreement includes sponsorship rights in the Powersports category and a prime retail property lease through 2031. RumbleOn aims to enhance its visibility among motorcycle enthusiasts at this significant annual event, reinforcing its long-standing partnership with Sturgis since 2018.
RumbleOn, Inc. (NASDAQ: RMBL), a leading technology-driven omnichannel powersports platform, will participate in the Jefferies Automotive Aftermarket Investor Conference on May 26, 2022. CEO Marshall Chesrown and CFO Narinder Sahai will conduct one-on-one investor meetings at the event, held at the InterContinental New York Barclay Hotel. RumbleOn aims to enhance customer experiences for outdoor enthusiasts, making powersport vehicles more accessible across the nation.
RumbleOn, the first technology-driven omnichannel powersports platform in the U.S., will participate in the B. Riley Securities 22nd Annual Institutional Investor Conference on May 25, 2022. CEO Marshall Chesrown will engage in a fireside chat at 8:10 a.m. PT (10:10 a.m. CT), alongside CFO Narinder Sahai, who will also conduct 1x1 investor meetings. RumbleOn aims to improve the customer experience for outdoor enthusiasts and increase accessibility to powersport vehicles nationwide.
RumbleOn reported a record revenue of $460 million and gross profit of $105 million for Q1 2022, driven by a 31% increase in used retail powersports unit sales. The company’s net income was $9.1 million, down 56% sequentially, while adjusted EBITDA rose 29.2% to $31.4 million. Operating expenses increased to $82.6 million, representing 17.9% of revenue. RumbleOn expects over 50% year-over-year growth in used retail powersports unit sales for 2022. However, new retail powersports sales are projected to be flat due to supply chain constraints.
RumbleOn, Inc. (NASDAQ: RMBL) will release its Q1 2022 operational and financial results on May 10, 2022, before market opening. A conference call is scheduled for 7:30 a.m. CT to discuss these results. RumbleOn positions itself as the nation's first technology-based omnichannel powersports platform, aimed at enhancing the customer experience for outdoor enthusiasts and expanding access to powersport vehicles.
RumbleOn, Inc. (NASDAQ: RMBL) has filed its Annual Report on Form 10-K for the year ended December 31, 2021, addressing a prior compliance issue with Nasdaq. The notice from April 4, 2022, indicated a failure to file the report timely, but the company's recent action is believed to restore compliance with Nasdaq Listing Rule 5250(c)(1). This filing is crucial for maintaining its listing status on the exchange.
RumbleOn reported significant growth in its 4Q results for the year ended December 31, 2021. The company achieved $440.9 million in revenue for the fourth quarter, an increase of 164% in used retail Powersports revenue and 87% growth in used retail unit sales compared to the same quarter last year. Full-year pro forma revenue reached $1,586.1 million, while net income for 4Q was $20.7 million with earnings per share of $1.35. Management emphasizes a strong customer experience strategy and plans to continue enhancing their omnichannel approach.
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