What is RideNow Grp's earnings per share (EPS)?

RideNow Grp (RDNW) reported diluted earnings per share of $-1.38 for fiscal year 2025. This represents a 37.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

RideNow Grp Financials

RDNW

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows RideNow Grp (RDNW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI RDNW FY2025 2026-05-14

RideNow’s recent progress comes from a cost reset and working-capital release, while an inventory-heavy balance sheet still constrains flexibility.

From FY2023 to FY2025, operating margin moved from -5.1% to roughly break-even even as revenue kept shrinking, which points to cost removal rather than stronger unit economics. The strongest cash generation arrived when inventory fell from $348M to $241M, so the cash improvement looks tied partly to stock reduction rather than fully self-funding profitability.

FY2025 ended with liabilities exceeding assets, leaving the company in negative book equity even though the current ratio stayed just above 1. Much of current assets sits in inventory at $257M, which means near-term liquidity depends more on selling stock efficiently than on a large cash cushion.

Gross margin stayed in a fairly tight band, ending FY2025 at 27.5%, while SG&A was cut by nearly $98M from FY2022; that combination says the path toward breakeven came mostly from expense discipline, not a richer sales mix. Because free cash flow was only $10.3M in FY2025 after $97.4M in FY2024, the improvement is still narrow and less forgiving if working-capital swings reverse.

Financial Health Signals

Financial Profile 14/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of RideNow Grp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

RideNow Grp has an operating margin of -0.0%, meaning the company retains $-0 of operating profit per $100 of revenue. This below-average margin results in a low score of 19/100, suggesting thin profitability after operating expenses. This is up from -1.3% the prior year.

Growth

RideNow Grp's revenue declined 10.5% year-over-year, from $1.2B to $1.1B. This contraction results in a growth score of 15/100.

Leverage

RideNow Grp has elevated debt relative to equity (D/E of -16.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

RideNow Grp's current ratio of 1.13 is below the typical benchmark, resulting in a score of 18/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

RideNow Grp has a free cash flow margin of 0.9%, earning a moderate score of 30/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Neutral

5/9

RideNow Grp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.30x

For every $1 of reported earnings, RideNow Grp generates $-0.30 in operating cash flow ($15.9M OCF vs -$52.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.1B

YoY-10.5%

5Y CAGR+21.1%

RideNow Grp generated $1.1B in revenue in fiscal year 2025. This represents a decrease of 10.5% from the prior year.

EBITDA

$8.8M

YoY+1077.8%

RideNow Grp's EBITDA was $8.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1077.8% from the prior year.

Net Income

-$52.4M

YoY+33.3%

RideNow Grp reported -$52.4M in net income in fiscal year 2025. This represents an increase of 33.3% from the prior year.

EPS (Diluted)

$-1.38

YoY+37.8%

RideNow Grp earned $-1.38 per diluted share (EPS) in fiscal year 2025. This represents an increase of 37.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$10.3M

YoY-89.4%

5Y CAGR-9.5%

RideNow Grp generated $10.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 89.4% from the prior year.

Cash & Debt

$29.5M

YoY-65.4%

5Y CAGR+82.3%

10Y CAGR+145.5%

RideNow Grp held $29.5M in cash against $207.2M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

27.5%

YoY+1.5pp

5Y CAGR+19.9pp

RideNow Grp's gross margin was 27.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.5 percentage points from the prior year.

Operating Margin

-0.0%

YoY+1.2pp

5Y CAGR+4.4pp

RideNow Grp's operating margin was -0.0% in fiscal year 2025, reflecting core business profitability. This is up 1.2 percentage points from the prior year.

Net Margin

-4.8%

YoY+1.7pp

5Y CAGR+1.2pp

RideNow Grp's net profit margin was -4.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.7 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$5.6M

YoY+180.0%

5Y CAGR+100.0%

RideNow Grp invested $5.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 180.0% from the prior year.

RDNW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.1B-10.5%	$1.2B-11.5%	$1.4B-6.3%	$1.5B+214.9%	$463.3M+11.3%	$416.4M
Cost of Revenue	$784.5M-12.3%	$894.9M-11.1%	$1.0B-1.1%	$1.0B+202.9%	$335.9M-12.7%	$384.8M
Gross Profit	$298.0M-5.2%	$314.3M-12.7%	$359.9M-18.5%	$441.7M+246.6%	$127.4M+302.9%	$31.6M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	$1.4M
SG&A Expenses	$256.3M-6.9%	$275.4M-20.7%	$347.3M-2.0%	$354.5M+152.9%	$140.2M+161.3%	$53.7M
Operating Income	-$200K+98.7%	-$15.2M+78.1%	-$69.5M+73.3%	-$260.1M-1285.6%	-$18.8M-1.1%	-$18.6M
Interest Expense	N/A	N/A	$77.2M+48.2%	$52.1M+264.5%	$14.3M+121.6%	$6.5M
Income Tax	$300K+250.0%	-$200K-100.3%	$59.3M+182.4%	-$72.0M-206.8%	-$23.5M	$0
Net Income	-$52.4M+33.3%	-$78.6M+63.5%	-$215.5M+17.6%	-$261.5M-2588.9%	-$9.7M+61.1%	-$25.0M
EPS (Diluted)	$-1.38+37.8%	$-2.22+81.7%	$-12.15+26.3%	$-16.48-1068.8%	$-1.41+87.7%	$-11.44

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$260.4M+1.4%	$256.9M-8.6%	$281.0M-6.3%	$299.9M+22.6%	$244.7M-9.2%	$269.6M-8.6%	$295.0M-12.4%	$336.8M
Cost of Revenue	$188.8M+1.5%	$186.0M-9.3%	$205.0M-5.1%	$216.0M+21.7%	$177.5M-12.2%	$202.1M-8.4%	$220.7M-10.6%	$246.9M
Gross Profit	$71.6M+1.0%	$70.9M-6.7%	$76.0M-9.4%	$83.9M+24.9%	$67.2M-0.4%	$67.5M-9.2%	$74.3M-17.4%	$89.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$62.1M-3.1%	$64.1M-0.5%	$64.4M-3.4%	$66.7M+9.2%	$61.1M-4.8%	$64.2M-2.6%	$65.9M-7.7%	$71.4M
Operating Income	$7.6M+40.7%	$5.4M-42.6%	$9.4M+150.0%	-$18.8M-594.7%	$3.8M+109.2%	-$41.1M-875.5%	$5.3M-65.6%	$15.4M
Interest Expense	N/A	N/A	$0	$0	$0	N/A	$700K+16.7%	$600K
Income Tax	$100K	$0-100.0%	$100K0.0%	$100K0.0%	$100K-50.0%	$200K	$0+100.0%	-$100K
Net Income	-$4.3M+32.8%	-$6.4M-56.1%	-$4.1M+87.3%	-$32.2M-232.0%	-$9.7M+82.8%	-$56.4M-403.6%	-$11.2M-1500.0%	-$700K
EPS (Diluted)	$-0.11	N/A	$-0.11+87.1%	$-0.85-226.9%	$-0.26	N/A	$-0.32-1500.0%	$-0.02

RDNW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$673.6M-10.8%	$755.2M-18.5%	$926.3M-9.8%	$1.0B-0.1%	$1.0B+1235.1%	$77.0M
Current Assets	$334.7M-9.9%	$371.4M-22.8%	$480.8M+4.3%	$460.8M+53.5%	$300.1M+695.5%	$37.7M
Cash & Equivalents	$29.5M-65.4%	$85.3M+44.8%	$58.9M+25.9%	$46.8M+0.7%	$46.5M+3066.9%	$1.5M
Inventory	$257.4M+7.0%	$240.6M-30.8%	$347.5M+7.4%	$323.5M+91.2%	$169.2M+691.9%	$21.4M
Accounts Receivable	$28.9M-5.2%	$30.5M-39.4%	$50.3M+79.6%	$28.0M-1.4%	$28.4M+201.8%	$9.4M
Goodwill	$0-100.0%	$800K0.0%	$800K-96.2%	$21.1M-91.0%	$234.8M+27588.7%	$848K
Total Liabilities	$686.1M-4.5%	$718.5M-12.5%	$820.7M-0.1%	$821.2M+37.8%	$596.1M+723.2%	$72.4M
Current Liabilities	$296.5M-8.6%	$324.4M-17.9%	$395.0M+26.7%	$311.7M+74.1%	$179.1M+405.2%	$35.4M
Long-Term Debt	$207.2M-2.3%	$212.0M-11.2%	$238.7M-36.2%	$374.4M+45.2%	$257.9M+15521.4%	$1.7M
Total Equity	-$12.5M-134.1%	$36.7M-65.2%	$105.6M-48.7%	$206.0M-52.3%	$431.6M+9344.2%	$4.6M
Retained Earnings	-$712.3M-7.9%	-$659.9M-11.6%	-$591.1M-57.4%	-$375.6M-229.2%	-$114.1M-9.3%	-$104.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$721.7M+7.1%	$673.6M-3.7%	$699.4M-1.8%	$712.3M-3.6%	$738.9M-2.2%	$755.2M-9.1%	$830.5M-7.3%	$896.0M
Current Assets	$384.8M+15.0%	$334.7M-6.6%	$358.3M-2.2%	$366.2M+2.2%	$358.3M-3.5%	$371.4M-5.9%	$394.6M-13.6%	$456.7M
Cash & Equivalents	$30.2M+2.4%	$29.5M-16.7%	$35.4M-20.8%	$44.7M+8.8%	$41.1M-51.8%	$85.3M+70.3%	$50.1M-13.8%	$58.1M
Inventory	$302.5M+17.5%	$257.4M-3.2%	$266.0M-3.2%	$274.9M+0.8%	$272.6M+13.3%	$240.6M-18.1%	$293.7M-15.5%	$347.6M
Accounts Receivable	$31.2M+8.0%	$28.9M-14.2%	$33.7M+16.2%	$29.0M+8.2%	$26.8M-12.1%	$30.5M+1.7%	$30.0M-15.3%	$35.4M
Goodwill	$0	$0-100.0%	$800K0.0%	$800K	N/A	$800K	N/A	N/A
Total Liabilities	$737.9M+7.5%	$686.1M-2.9%	$706.3M-1.5%	$717.0M+0.7%	$712.0M-0.9%	$718.5M-3.8%	$747.2M-6.9%	$802.6M
Current Liabilities	$346.2M+16.8%	$296.5M-7.2%	$319.6M+0.9%	$316.9M+0.4%	$315.6M-2.7%	$324.4M-7.8%	$351.9M-13.7%	$407.8M
Long-Term Debt	$210.4M+1.5%	$207.2M0.0%	$207.1M-5.0%	$218.0M+1.3%	$215.1M+1.5%	$212.0M+1.0%	$209.8M+0.6%	$208.5M
Total Equity	-$16.2M-29.6%	-$12.5M-81.2%	-$6.9M-46.8%	-$4.7M-117.5%	$26.9M-26.7%	$36.7M-55.9%	$83.3M-10.8%	$93.4M
Retained Earnings	-$716.6M-0.6%	-$712.3M-0.9%	-$705.9M-0.6%	-$701.8M-4.8%	-$669.6M-1.5%	-$659.9M-9.3%	-$603.5M-1.9%	-$592.3M

RDNW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$15.9M-84.0%	$99.4M+355.5%	-$38.9M-106.0%	-$18.9M+41.3%	-$32.2M-287.7%	$17.1M
Capital Expenditures	$5.6M+180.0%	$2.0M-85.4%	$13.7M+144.6%	$5.6M-0.8%	$5.6M+3126.3%	$175K
Free Cash Flow	$10.3M-89.4%	$97.4M+285.2%	-$52.6M-114.8%	-$24.5M+35.3%	-$37.8M-322.9%	$17.0M
Investing Cash Flow	-$2.7M-400.0%	$900K+104.7%	-$19.1M+76.8%	-$82.2M+78.3%	-$378.8M-16500.8%	-$2.3M
Financing Cash Flow	-$67.0M+16.9%	-$80.6M	N/A	$107.7M-76.6%	$459.5M+2642.6%	-$18.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$27.6M-7000.0%	$400K-96.5%	$11.5M+5.5%	$10.9M+258.0%	-$6.9M-122.4%	$30.8M-21.8%	$39.4M+223.0%	$12.2M
Capital Expenditures	$600K0.0%	$600K-71.4%	$2.1M-12.5%	$2.4M+380.0%	$500K+25.0%	$400K-33.3%	$600K+50.0%	$400K
Free Cash Flow	-$28.2M-14000.0%	-$200K-102.1%	$9.4M+10.6%	$8.5M+214.9%	-$7.4M-124.3%	$30.4M-21.6%	$38.8M+228.8%	$11.8M
Investing Cash Flow	-$700K-129.2%	$2.4M+209.1%	-$2.2M+8.3%	-$2.4M-380.0%	-$500K-113.9%	$3.6M+376.9%	-$1.3M-85.7%	-$700K
Financing Cash Flow	$31.8M+371.8%	-$11.7M+32.4%	-$17.3M-253.1%	-$4.9M+85.2%	-$33.1M-652.3%	-$4.4M+89.6%	-$42.5M-1018.4%	-$3.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RDNW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	27.5%+1.5pp	26.0%-0.4pp	26.3%-3.9pp	30.3%+2.8pp	27.5%+19.9pp	7.6%
Operating Margin	-0.0%+1.2pp	-1.3%+3.8pp	-5.1%+12.7pp	-17.8%-13.8pp	-4.0%+0.4pp	-4.5%
Net Margin	-4.8%+1.7pp	-6.5%+9.3pp	-15.8%+2.1pp	-17.9%-15.8pp	-2.1%+3.9pp	-6.0%
Return on Equity	N/A	-214.2%-10.1pp	-204.1%-77.1pp	-126.9%-124.7pp	-2.3%+544.8pp	-547.0%
Return on Assets	-7.8%+2.6pp	-10.4%+12.8pp	-23.3%+2.2pp	-25.5%-24.5pp	-0.9%+31.5pp	-32.5%
Current Ratio	1.13-0.0	1.14-0.1	1.22-0.3	1.48-0.2	1.68+0.6	1.06
Debt-to-Equity	-16.58-22.4	5.78+3.5	2.26+0.4	1.82+1.2	0.60+0.2	0.36
FCF Margin	0.9%-7.1pp	8.1%+11.9pp	-3.9%-2.2pp	-1.7%+6.5pp	-8.2%-12.2pp	4.1%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	27.5%-0.1pp	27.6%+0.6pp	27.1%-0.9pp	28.0%+0.5pp	27.5%+2.4pp	25.0%-0.2pp	25.2%-1.5pp	26.7%
Operating Margin	2.9%+0.8pp	2.1%-1.3pp	3.4%+9.6pp	-6.3%-7.8pp	1.6%+16.8pp	-15.2%-17.0pp	1.8%-2.8pp	4.6%
Net Margin	-1.7%+0.8pp	-2.5%-1.0pp	-1.5%+9.3pp	-10.7%-6.8pp	-4.0%+17.0pp	-20.9%-17.1pp	-3.8%-3.6pp	-0.2%
Return on Equity	N/A	N/A	N/A	N/A	-36.1%+117.6pp	-153.7%-140.2pp	-13.5%-12.7pp	-0.8%
Return on Assets	-0.6%+0.3pp	-0.9%-0.4pp	-0.6%+3.9pp	-4.5%-3.2pp	-1.3%+6.2pp	-7.5%-6.1pp	-1.4%-1.3pp	-0.1%
Current Ratio	1.11-0.0	1.130.0	1.12-0.0	1.16+0.0	1.140.0	1.14+0.0	1.120.0	1.12
Debt-to-Equity	-12.99+3.6	-16.58+13.4	-30.01+16.4	-46.38-54.4	8.00+2.2	5.78+3.3	2.52+0.3	2.23
FCF Margin	-10.8%-10.8pp	-0.1%-3.4pp	3.4%+0.5pp	2.8%+5.8pp	-3.0%-14.3pp	11.3%-1.9pp	13.2%+9.7pp	3.5%

Note: Shareholder equity is negative (-$12.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is RideNow Grp's annual revenue?

RideNow Grp (RDNW) reported $1.1B in total revenue for fiscal year 2025. This represents a -10.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is RideNow Grp's revenue growing?

RideNow Grp (RDNW) revenue declined by 10.5% year-over-year, from $1.2B to $1.1B in fiscal year 2025.

Is RideNow Grp profitable?

No, RideNow Grp (RDNW) reported a net income of -$52.4M in fiscal year 2025, with a net profit margin of -4.8%.

What is RideNow Grp's EBITDA?

RideNow Grp (RDNW) had EBITDA of $8.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does RideNow Grp have?

As of fiscal year 2025, RideNow Grp (RDNW) had $29.5M in cash and equivalents against $207.2M in long-term debt.

What is RideNow Grp's gross margin?

RideNow Grp (RDNW) had a gross margin of 27.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is RideNow Grp's operating margin?

RideNow Grp (RDNW) had an operating margin of -0.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is RideNow Grp's net profit margin?

RideNow Grp (RDNW) had a net profit margin of -4.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is RideNow Grp's free cash flow?

RideNow Grp (RDNW) generated $10.3M in free cash flow during fiscal year 2025. This represents a -89.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is RideNow Grp's operating cash flow?

RideNow Grp (RDNW) generated $15.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are RideNow Grp's total assets?

RideNow Grp (RDNW) had $673.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are RideNow Grp's capital expenditures?

RideNow Grp (RDNW) invested $5.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is RideNow Grp's current ratio?

RideNow Grp (RDNW) had a current ratio of 1.13 as of fiscal year 2025, which is considered adequate.

What is RideNow Grp's debt-to-equity ratio?

RideNow Grp (RDNW) had a debt-to-equity ratio of -16.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is RideNow Grp's return on assets (ROA)?

RideNow Grp (RDNW) had a return on assets of -7.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is RideNow Grp's debt-to-equity ratio negative or unusual?

RideNow Grp (RDNW) has negative shareholder equity of -$12.5M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is RideNow Grp's Piotroski F-Score?

RideNow Grp (RDNW) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are RideNow Grp's earnings high quality?

RideNow Grp (RDNW) has an earnings quality ratio of -0.30x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is RideNow Grp?

RideNow Grp (RDNW) scores 14 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.