#NASDAQ #RumbleOn #RideNow

RumbleOn, Inc. Reports Second Quarter 2025 Financial Results

RumbleOn, Inc. (NASDAQ: RMBL) has reported its financial results for the second quarter of fiscal year 2025, which ended on June 30, 2025. The results reveal a challenging period for the company, with a notable decrease in revenue and an increase in net loss compared to the previous year. This announcement comes amid exciting changes within the company, including its recent rebranding initiative.

Key Financial Figures for Q2 2025

In the second quarter of 2025, RumbleOn generated a total revenue of $299.9 million, reflecting an 11.0% decline compared to the $336.8 million reported in Q2 2024. This decline was primarily driven by a decrease in unit sales within the company's powersports segment, paired with a downturn in their vehicle transportation services category, which saw a revenue decline of $13.9 million.

The company's net loss for this quarter stood at $32.2 million, a significant jump from a mere $0.7 million loss in the same quarter last year. The loss included an impairment charge of $34.0 million associated with franchise rights.

On a slightly positive note, the selling, general, and administrative (SGA) expenses were reduced to $66.7 million, down from $71.4 million in the previous year, showcasing efforts towards cost management. Adjusted EBITDA also saw a small increase, rising by $1.0 million to reach $17.2 million, compared to $16.2 million in Q2 2024.

Strategic Changes and Rebranding

Recognizing the need for a fresh start, RumbleOn announced a significant rebranding initiative, changing its name to RideNow Group, Inc. This move is aimed at aligning with the company's roots in the powersports market, where it has established its footprint as a leading dealership group. Along with the rebranding, the corporate headquarters will be relocated back to the Chandler, AZ area, which is more fitting to their original flagship store.

Effective August 13, 2025, RumbleOn will also change its ticker symbol from RMBL to RDNW on the NASDAQ, marking a new chapter in the company’s journey.

Highlights from Powersports Segment

The powersports segment faced challenges with unit retail sales dropping by 11.5% for new vehicles, totaling 10,618 units compared to 12,004 units in Q2 2024. On the contrary, pre-owned powersports sales saw a 10.2% increase, selling 5,283 units versus 4,796 in the same quarter the previous year.

Despite the drop in new vehicle sales, the total gross profit from the powersports segment was $83.7 million, down from $86.8 million a year ago.

Company’s Outlook

CEO Michael Quartieri expressed cautious optimism regarding the company's operational strategy and progress during the quarter. He stated that while the results are not yet where the company wishes to be, the