Rumbleon Inc - RMBL STOCK NEWS

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.

RumbleOn (NASDAQ: RMBL) will announce its first quarter 2021 financial results on May 17, 2021, before market open. The company specializes in e-commerce solutions for pre-owned vehicles, providing technological tools to enhance dealers' operations and consumer experiences. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results. RumbleOn's innovative platform allows seamless transactions for buying, selling, trading, and financing vehicles online.

RumbleOn, Inc. (NASDAQ: RMBL) has successfully closed an underwritten public offering of 1,048,998 shares of its Class B Common Stock at $38.00 per share, generating gross proceeds of approximately $39.86 million, excluding discounts and commissions. The offering includes a 30-day option for underwriters to purchase an additional 157,349 shares. The net proceeds will be allocated for working capital and general corporate purposes. B. Riley Securities managed the offering, with legal counsel provided by Akerman LLP and Nelson Mullins Riley & Scarborough LLP.

RumbleOn, Inc. (NASDAQ: RMBL) announced a public offering of 1,048,998 shares of Class B Common Stock priced at $38.00 per share. The offering is aimed at raising funds for working capital and general corporate purposes, with an expected closing date of April 13, 2021. Additionally, the underwriters have an option to purchase up to 157,349 shares to cover over-allotments. The offering is registered with the SEC, and B. Riley Securities is acting as the sole book-running manager.

RumbleOn, Inc. (Nasdaq: RMBL) is proposing an underwritten public offering of its Class B Common Stock, subject to market conditions. The offering includes a 30-day option for underwriters to purchase an additional 15% of shares for over-allotments. Proceeds will be utilized for working capital and general corporate purposes. B. Riley Securities is the sole book-running manager for this initiative. The offering details are subject to change, and a prospectus supplement will be filed with the SEC.

RumbleOn (NASDAQ: RMBL), an ecommerce company, announced a merger with RideNow, the largest powersports dealer, creating a unique omnichannel customer experience in North America. This merger positions the combined company to dominate a $100+ billion market, leveraging RumbleOn's technology and RideNow's retail presence. The transaction is expected to drive significant revenue growth, cost synergies, and improve margins. In 2020, the combined entity generated approximately $1.3 billion in revenue. The merger is slated to close in Q2 or Q3 of 2021, requiring various regulatory and shareholder approvals.

RumbleOn, Inc (NASDAQ: RMBL) reported its financial results for the year ending December 31, 2020. Total revenue decreased to $416.4 million, down from $840.6 million in 2019, while total vehicle unit sales dropped to 18,024. However, gross profit increased by over 100% compared to 2019, reaching $31.6 million with a gross margin of 7.6%. RumbleOn's management emphasized the success of RumbleOn 3.0, contributing to improved margins and profitability. The net loss narrowed to $25 million, an improvement from $45.2 million in 2019. A conference call is scheduled for March 15, 2021, at 8:30 a.m. ET.

RumbleOn, Inc (NASDAQ: RMBL) reported record Q3 2020 results, achieving positive adjusted EBITDA for the first time. Revenue reached $117.3 million, up 39% from Q2, despite a decline in vehicle unit sales to 4,263. Gross profit was $16.8 million, with a gross margin of 14.3%, highlighting a substantial year-over-year improvement. The company launched RumbleOn 3.0 and expanded listings to include boats and RVs. However, inventory challenges and COVID-19 uncertainties may impact future sales, leading management to withhold guidance until conditions stabilize.