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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) has announced a definitive agreement to acquire Freedom Powersports, encompassing 13 locations across Texas, Georgia, and Alabama. This acquisition aims to enhance RumbleOn's market presence, expanding its footprint to over 55 locations nationwide. The strategic move is expected to bolster RumbleOn's omnichannel offering and is projected to be accretive from day one without the need for equity capital. Closing is anticipated in late 2021 or early 2022, pending customary conditions.
RumbleOn, Inc. (NASDAQ: RMBL), the largest retailer of powersports vehicles, will release its third quarter 2021 financial results before the market opens on November 15, 2021. A conference call will follow at 8:30 a.m. ET to discuss these results. Investors can access the call by dialing 1-877-407-9716 or through a live webcast on the company's Investor Relations website. RumbleOn revolutionizes the powersports market by enabling seamless transactions through innovative technology, enhancing the buying, selling, and trading experience.
RumbleOn, Inc. (NASDAQ: RMBL) has opened a new 60,000-square-foot fulfillment center in Orlando, Florida, enhancing its capacity to process thousands of powersport vehicles monthly. This facility will utilize advanced technology for reconditioning, inspection, and online presentation, thereby improving customer experience.
The opening aligns with RumbleOn's growth strategy, including future expansions in Dallas and Phoenix. The recent acquisition of a Jacksonville-based dealer also boosts RumbleOn's market position, reinforcing its status as the largest retailer of powersports vehicles in the U.S.
RumbleOn, Inc. (NASDAQ: RMBL) has entered an asset purchase agreement to acquire a Jacksonville-based powersports dealer that has demonstrated steady revenue growth and profitability. This acquisition marks RumbleOn's first since its business combination with RideNow on August 31, 2021. Expected to close in early Q4 2021, the acquisition aligns with RumbleOn's strategy to consolidate the highly fragmented powersports market and enhance its omnichannel customer experience.
RumbleOn, Inc. (NASDAQ: RMBL) has successfully closed its upsized public offering, raising approximately
RumbleOn (NASDAQ: RMBL) announced that it expects to finalize its business combination with RideNow on August 31, 2021, acquiring 100% of RideNow's dealership portfolio. This move aims to create the first omnichannel consumer experience in North America's powersports market. RumbleOn has secured the necessary funds for the closing and is positioned to leverage changing consumer behaviors accelerated by recent events. The merger is seen as a significant step toward enhancing customer service and fulfilling brand aspirations in the industry.
RumbleOn (NASDAQ: RMBL) has announced a public offering of 4,393,939 shares of Class B Common Stock at $33.00 per share, with a 30-day option for underwriters to purchase an additional 659,090 shares. The offering, expected to close on August 31, 2021, is underwritten by B. Riley Securities and Baird. A shelf registration statement was filed with the SEC and is effective since June 28, 2021. The proceeds from this offering are intended to support the company's growth strategies in the e-commerce vehicle market.
RumbleOn, Inc. (Nasdaq: RMBL) has announced a proposed underwritten public offering of its Class B Common Stock, with the possibility of a 15% over-allotment option for underwriters. The final terms hinge on market conditions, and there's no guarantee regarding completion or specific terms. B. Riley Securities and Baird are the joint book-runners, with D.A. Davidson & Co. and Wedbush Securities as co-managers. A shelf registration statement for this offering was filed and declared effective by the SEC.
RumbleOn, Inc (NASDAQ: RMBL) announced the appointment of Matthew McCartin as Chief Marketing Officer, effective September 7, 2021. McCartin, a seasoned marketing leader, will spearhead RumbleOn's marketing strategy following its merger with RideNow, aiming to establish a premier omnichannel experience in the powersports market. With 30 years of experience at renowned brands like YUM Brands and Expedia, McCartin is expected to enhance brand awareness and drive revenue. CEO Marshall Chesrown emphasized McCartin's expertise will be crucial as the company prepares for significant growth.
RumbleOn, Inc (NASDAQ: RMBL) reported Q2 2021 financials, showcasing a 100% revenue increase to $168.3 million year-over-year. Total vehicle unit sales rose 55% to 5,711, with powersports unit sales up 181%. Gross profit reached $19.5 million, improving its gross margin to 11.6%. The firm announced a business combination with RideNow, expected to close soon, aimed at enhancing revenue and cost synergies in the $100+ billion powersports market. RumbleOn anticipates combined revenue of $1.45-$1.55 billion and adjusted EBITDA of $110-$115 million for 2021.
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