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.
Overview
RumbleOn Inc (RMBL) is a disruptive online retail and e-commerce platform that revolutionizes the way pre-owned recreational and automotive vehicles are bought, sold, traded, and financed. The company seamlessly integrates digital marketplace innovation with robust dealership operations in the powersports and automotive sectors. Featuring advanced technology and transparent processes, RumbleOn delivers a fast, efficient, and engaging experience for both consumers and dealers.
Business Model and Operations
RumbleOn operates through two complementary segments: its Powersports dealership group and Wholesale Express, LLC, an asset-light transportation services provider dedicated to the automotive industry. The Powersports group, recognized as a prominent entity in the U.S. marketplace, supports a network of franchises and dealerships offering a wide range of pre-owned vehicles, as well as related products including parts, apparel, accessories, and finance and insurance services. This group is primarily focused on the acquisition, distribution, and sale of pre-owned motorcycles, ATVs, and other powersports vehicles. In contrast, Wholesale Express extends the company’s reach into automotive logistics, effectively managing a vast transportation network between dealerships, auctions, and retail outlets to support vehicle movement across the nation.
Market Position and Value Proposition
As a key player in the online retail space for recreational vehicles, RumbleOn has established itself as a trusted hub for both individual consumers and dealerships. Its innovative approach is highlighted through the integration of branded finance solutions and digital tools crafted to streamline the vehicle financing process. This strategic combination enhances customer engagement through transparency and efficiency, setting RumbleOn apart from traditional dealerships. Leveraging technology, the company not only facilitates vehicle sales but also assists in the trade and finance components of the acquisition process, ensuring a holistic customer experience.
Key Differentiators
- Digital Marketplace Innovation: A user-centric platform that simplifies the buying and selling process with real-time, transparent transactions.
- Comprehensive Service Integration: Combining sales, financing, trade-in options, and transportation services offers a one-stop solution for acquiring pre-owned vehicles.
- Industry Expertise: Deep industry knowledge in both the powersports and automotive segments, supported by a nationwide network of dealerships and partners.
- Customer-Centric Approach: Establishes trust by providing clear, operational insights and a seamless e-commerce experience for varied customer profiles.
Operational Excellence and Strategic Focus
RumbleOn’s strategic focus lies in leveraging technological advancements to optimize dealership operations and maximize process efficiencies. By adopting a model that integrates digital retail, branded financing, and efficient logistics, the company ensures that customers benefit from an engaging, fast, and transparent experience. This multi-dimensional approach not only enhances transaction speed but also enables precise tracking of the vehicle lifecycle from acquisition to final sale, reinforcing its stature as a reliable intermediary within the high-value pre-owned vehicle market.
Industry Relevance and Competitive Landscape
The powersports and automotive retail markets are marked by dynamic consumer behavior, evolving financing models, and a demand for faster, technology-driven solutions. Against this backdrop, RumbleOn positions its business model to address the nuances of the pre-owned vehicle market by offering tailored digital experiences. While traditional dealerships often focus on localized sales, RumbleOn’s scalable and nationwide platform provides enhanced reach and operational flexibility, enabling it to compete with and complement established market players. Its emphasis on clear process integration and digital finance distinguishes its approach in a competitive landscape where customer experience is paramount.
Commitment to Transparency and Expertise
RumbleOn’s detailed operational framework underscores its commitment to transparency, efficiency, and customer satisfaction. By continuously aligning its services with evolving market needs, the company demonstrates expertise in managing complex transactions and streamlining vehicle distribution networks. The use of precise digital tools and data-driven insights not only reinforces operational robustness but also ensures that every transaction adheres to the highest standards of trust and accountability.
Conclusion
In summary, RumbleOn Inc stands as a comprehensive solution for the sale, acquisition, and financing of pre-owned recreational and automotive vehicles. By integrating digital innovation with strategic operational excellence, the company caters to a diverse customer base and upholds industry-leading practices. With its dual-segment approach, RumbleOn seamlessly connects consumers, dealerships, and logistics services, positioning itself as an essential entity in the modern, technology-driven automotive and powersports marketplace.
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.
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