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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 (NASDAQ:RMBL) announced stockholder approval for its business combination with RideNow during a special meeting on July 30, 2021. The merger is set to close in Q3, pending customary conditions. This strategic move positions the combined company to dominate a $100+ billion market, leveraging an end-to-end platform to enhance consumer reach in a fragmented sector. The deal aims to boost revenue growth and drive cost synergies, resulting in improved monetization and margin expansion for RumbleOn.
RumbleOn (NASDAQ: RMBL) announced its plans to release second quarter 2021 financial results on August 2, 2021, before market opening. A conference call and webcast will follow at 8:30 a.m. ET to discuss the results and overall business performance. The company continues to innovate in the e-commerce sector, focusing on the aggregation and distribution of pre-owned vehicles, enhancing dealer and consumer transactions through technology solutions.
RumbleOn, Inc. (NASDAQ:RMBL) announced the filing of a definitive proxy statement for a special meeting of shareholders on July 30, 2021, at 8:00 a.m. CT. The meeting aims to vote on matters regarding its proposed business combination with RideNow. Only shareholders of RumbleOn Class A and B common stock as of June 21, 2021 are eligible to participate. The comprehensive proxy statement is available on the SEC's website and the company's investor section, detailing risk factors and the significance of the transaction.
RumbleOn (NASDAQ: RMBL) has appointed Michael Francis as General Counsel, a significant addition given his longstanding relationship with the company and experience in corporate law. Francis has worked closely with RumbleOn's leadership and was previously the outside counsel since its inception. His extensive legal background includes IPOs and corporate transactions, which will aid RumbleOn in executing its business combination with RideNow, aiming to enhance the omnichannel customer experience in powersports. This strategic move supports the company's goals for growth and consolidation in the industry.
RumbleOn, Inc. (NASDAQ: RMBL) provided an update on its pending business combination with RideNow, aiming to create the first omnichannel powersport platform in the U.S. The company filed preliminary proxy materials with the SEC and expects the transaction to close in Q3 2021. RumbleOn reiterated its Q2 revenue guidance of $140 to $150 million, projecting a year-over-year growth of 66%-78%. For the full year 2021, combined revenues are expected between $1.45 billion and $1.55 billion, with Adjusted EBITDA of $110 million to $115 million.
RumbleOn, Inc. (NASDAQ: RMBL) announced the appointment of Peter Levy to its Board of Directors, effective June 17, 2021. Levy, who has been the Chief Operating Officer since 2017, brings over 25 years of experience in technology companies. He has contributed significantly to RumbleOn by fostering relationships with dealers and leading various initiatives, including the Dealer Direct platform. CEO Marshall Chesrown expressed confidence in Levy's leadership as the company aims for growth in the omnichannel powersports market.
RumbleOn, Inc. (NASDAQ: RMBL) announces Beverly Rath as Interim CFO following the death of co-founder Steven Berrard on June 7, 2021. Rath has been instrumental in the finance team since inception and boasts over 35 years of experience. The company also promoted Carlos Ramirez to Assistant Controller. CEO Marshall Chesrown expressed confidence in Rath's leadership and the pending acquisition of RideNow, emphasizing a commitment to RumbleOn's strategic growth. The company continues to focus on becoming the first omnichannel powersports platform in North America.
RumbleOn, Inc. (NASDAQ: RMBL) announces the tragic passing of CFO Steven Berrard on Monday evening. Chairman and CEO Marshall Chesrown expressed profound sorrow and extended condolences to Berrard's family. Berrard was a pivotal figure at RumbleOn, recognized for his extensive experience and dedication, including his vision for the company’s merger with RideNow. Company leadership gathered in Charlotte to support Berrard's family. RumbleOn, founded in 2017, is innovating the pre-owned vehicle market through e-commerce solutions.
RumbleOn (NASDAQ: RMBL) has announced a three-year sponsorship extension for the Sturgis Motorcycle Rally, enhancing its presence in the powersport community. This partnership allows RumbleOn to engage directly with consumers, providing opportunities to buy, sell, or trade vehicles onsite. CEO Marshall Chesrown emphasized the company's commitment to making powersport ownership accessible. The event will feature brand interactions and entertainment, reinforcing RumbleOn's omnichannel experience in North America's powersports market.
RumbleOn, Inc. (NASDAQ: RMBL) reported impressive financial results for Q1 2021, showing a 48.1% increase in total revenue to $104.3 million compared to Q4 2020. Total vehicle sales rose 32.2% to 3,500 units, with automotive sales up 39.6%. Despite an operating loss of $(2.8) million, this was an improvement from the previous quarter. The company expects Q2 revenue between $140 million and $150 million, projecting significant year-over-year growth. The anticipated merger with RideNow is expected to strengthen RumbleOn's market presence.
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