Welcome to our dedicated page for Rumbleon news (Ticker: RMBL), a resource for investors and traders seeking the latest updates and insights on Rumbleon stock.
RumbleOn Inc (RMBL) operates a transformative e-commerce platform for pre-owned powersports vehicles and automotive logistics solutions. This news hub provides investors and industry observers with essential updates on corporate developments, market positioning, and operational milestones.
Access real-time announcements including earnings reports, strategic partnerships, and industry leadership changes. Our curated collection features official press releases alongside third-party analysis of RumbleOn's dealership network expansion, digital marketplace innovations, and transportation service enhancements.
Key updates cover financial performance indicators, inventory acquisition strategies, and technology initiatives driving the company's dual-segment approach. Stay informed about regulatory developments affecting the pre-owned vehicle market and RumbleOn's responses to evolving industry conditions.
Bookmark this page for streamlined access to verified information about RumbleOn's market activities. Check regularly for updates on vehicle financing innovations, logistics network optimizations, and consumer experience improvements within the powersports ecosystem.
RumbleOn (NASDAQ: RMBL) has released its Q4 and full-year 2024 financial results, showing mixed performance amid macroeconomic challenges. Q4 2024 saw revenue decline 13.4% to $269.6 million, with a net loss of $56.4 million, improved from $168.5 million loss in Q4 2023. The company achieved positive Adjusted EBITDA of $2.2 million in Q4.
For full-year 2024, revenue decreased 11.5% to $1,209.2 million, with a net loss of $78.6 million, better than 2023's $215.5 million loss. Notable achievements include generating $99.4 million in operating cash flow, reducing inventory by $106.9 million, and cutting floor plan notes payable by $81.4 million.
The company strengthened its financial position by fully repaying $38.8 million of convertible notes, raising $10 million through a rights offering, and completing a $4.0 million sale-leaseback deal. RumbleOn ended 2024 with $85.3 million in unrestricted cash and $146.2 million available under powersports floor plan lines.
RumbleOn (NASDAQ: RMBL) has scheduled its Fourth Quarter and Full Year 2024 earnings release for Tuesday, March 11, 2025, before market opening. The company will host a conference call and webcast at 7:00 a.m. Central Time (8:00 a.m. Eastern Time) on the same day.
The earnings discussion will be led by CEO Mike Quartieri and CFO Tiffany Kice. Investors can access the conference call via phone (1-844-825-9789 for US callers, 1-412-317-5180 for international) using Conference ID 10196311, or through a live webcast available on the company's investor relations website.
RumbleOn (NASDAQ: RMBL), North America's largest powersports retailer, announced significant leadership changes effective January 13, 2025. Michael Quartieri, previously Chairman of the Board, has been appointed as CEO, replacing Michael Kennedy who has departed from both the CEO position and Board membership.
Additional changes include Cameron Tkach's promotion to Executive Vice President and Chief Operating Officer, bringing over 15 years of powersports industry experience, and Becca Polak's appointment as Vice Chairman and Lead Independent Director. Tkach, who rose through various operational positions at RideNow Powersports before its acquisition by RumbleOn in 2021, will focus on operational excellence and market leadership.
The company recently strengthened its balance sheet by paying off its convertible notes. The new leadership team aims to focus on driving growth, improving profitability, and generating strong cash flow.
RumbleOn (NASDAQ: RMBL) has completed its $10.0 million fully backstopped registered rights offering of Class B common stock. The offering resulted in subscriptions for 2,043,011 shares (approximately 85% of offered shares) at $4.18 per share. Stone House Capital Management will purchase the remaining 349,333 unsubscribed shares in a Backstop Private Placement for approximately $1.5 million.
The company expects net proceeds of approximately $9.0 million, which will be used for general corporate purposes, including potential repayment of 6.75% convertible senior promissory notes due January 2025. The proceeds will also partially satisfy additional capital financing obligations under a recent Oaktree credit agreement amendment. Following the completion of both transactions, RumbleOn expects to have approximately 37,713,298 shares of Class B common stock outstanding.
RumbleOn (NASDAQ: RMBL) announced preliminary results of its $10.0 million fully backstopped registered rights offering. The offering resulted in subscriptions for 2,043,011 shares of Class B common stock at $4.18 per share. Due to incomplete subscription, Stone House Capital Management will purchase an additional 349,333 shares through a Backstop Private Placement.
The company expects net proceeds of approximately $9.0 million, which will be used for general corporate purposes, including potential repayment of 6.75% promissory notes due January 2025. The proceeds will also partially satisfy capital financing obligations under a recent Oaktree credit agreement amendment. Following the completion of both offerings, RumbleOn expects to have approximately 37,713,298 shares of Class B common stock outstanding.
RumbleOn has initiated a $10.0 million fully backstopped registered rights offering, distributing non-transferable subscription rights to holders of Class A and Class B common stock. Stockholders as of November 25, 2024, will receive one subscription right per share to purchase 0.0677 shares of Class B common stock at $4.18 per share. The offering will expire on December 12, 2024. Stone House Capital Management has agreed to purchase any unsubscribed shares. The proceeds will be used for general corporate purposes, including potential repayment of 6.75% promissory notes due January 2025 and satisfying Oaktree credit agreement obligations.
RumbleOn announced a $10.0 million registered equity rights offering, setting November 25, 2024, as the record date. Eligible stockholders of Class A and B Common Stock will receive non-transferable subscription rights on a pro rata basis. The subscription price will be set at a 20% discount to either the 30-day or 10-day volume-weighted average price of Class B Common Stock. Stone House Capital Management will act as Backstop Investor, while Mark Tkach and William Coulter will serve as Supporting Investors, all committing to exercise their pro rata subscription rights.
RumbleOn (NASDAQ: RMBL) reported Q3 2024 financial results showing revenue of $295.0 million, down 12.7% year-over-year. The company posted a net loss of $11.2 million, improved from a $16.5 million loss in Q3 2023. Key highlights include reduced SG&A expenses to $65.9 million, secured $30.0 million in new capital commitments, and generated operating cash inflows of $68.6 million for the first nine months. Total Powersports retail unit sales decreased 13.2% to 14,289 units, while Vehicle Transportation Services saw a 9.4% increase in vehicles transported.
RumbleOn (NASDAQ: RMBL) announced it will release its third quarter 2024 operational and financial results before market opens on Tuesday, November 12, 2024. The company scheduled a conference call and webcast at 7:00 a.m. Central Time (8:00 a.m. Eastern Time) on the same day. CEO Mike Kennedy and CFO Tiffany Kice will host the call to discuss operational and financial results. The conference call will be accessible via phone and webcast through the company's investor relations website.
Octane and RideNow have partnered to launch RideNow Finance, a branded financing solution for RideNow's 56 retail stores. The partnership enables customers to finance over 18,000 new and pre-owned vehicles through RideNow's private label financing program. RumbleOn's dealerships can now leverage Octane's digital tools and full-spectrum financing experience under their brand, run branded promotions, and integrate financing messaging into marketing initiatives. The partnership represents the only private label branded financing for a dealership group in the nearly $30 billion powersports market. Loans will be originated through Octane's in-house lender, Roadrunner Financial.