Rumbleon Inc Stock Price, News & Analysis

RumbleOn, Inc. (NASDAQ: RMBL) has secured a 10-year exclusive Sponsorship Agreement with the City of Sturgis, South Dakota for its renowned Motorcycle Rally, attracting 555,000 attendees in 2021. This agreement includes sponsorship rights in the Powersports category and a prime retail property lease through 2031. RumbleOn aims to enhance its visibility among motorcycle enthusiasts at this significant annual event, reinforcing its long-standing partnership with Sturgis since 2018.

RumbleOn, Inc. (NASDAQ: RMBL), a leading technology-driven omnichannel powersports platform, will participate in the Jefferies Automotive Aftermarket Investor Conference on May 26, 2022. CEO Marshall Chesrown and CFO Narinder Sahai will conduct one-on-one investor meetings at the event, held at the InterContinental New York Barclay Hotel. RumbleOn aims to enhance customer experiences for outdoor enthusiasts, making powersport vehicles more accessible across the nation.

RumbleOn, the first technology-driven omnichannel powersports platform in the U.S., will participate in the B. Riley Securities 22nd Annual Institutional Investor Conference on May 25, 2022. CEO Marshall Chesrown will engage in a fireside chat at 8:10 a.m. PT (10:10 a.m. CT), alongside CFO Narinder Sahai, who will also conduct 1x1 investor meetings. RumbleOn aims to improve the customer experience for outdoor enthusiasts and increase accessibility to powersport vehicles nationwide.

RumbleOn reported a record revenue of $460 million and gross profit of $105 million for Q1 2022, driven by a 31% increase in used retail powersports unit sales. The company’s net income was $9.1 million, down 56% sequentially, while adjusted EBITDA rose 29.2% to $31.4 million. Operating expenses increased to $82.6 million, representing 17.9% of revenue. RumbleOn expects over 50% year-over-year growth in used retail powersports unit sales for 2022. However, new retail powersports sales are projected to be flat due to supply chain constraints.

RumbleOn, Inc. (NASDAQ: RMBL) will release its Q1 2022 operational and financial results on May 10, 2022, before market opening. A conference call is scheduled for 7:30 a.m. CT to discuss these results. RumbleOn positions itself as the nation's first technology-based omnichannel powersports platform, aimed at enhancing the customer experience for outdoor enthusiasts and expanding access to powersport vehicles.

RumbleOn, Inc. (NASDAQ: RMBL) has filed its Annual Report on Form 10-K for the year ended December 31, 2021, addressing a prior compliance issue with Nasdaq. The notice from April 4, 2022, indicated a failure to file the report timely, but the company's recent action is believed to restore compliance with Nasdaq Listing Rule 5250(c)(1). This filing is crucial for maintaining its listing status on the exchange.

RumbleOn reported significant growth in its 4Q results for the year ended December 31, 2021. The company achieved $440.9 million in revenue for the fourth quarter, an increase of 164% in used retail Powersports revenue and 87% growth in used retail unit sales compared to the same quarter last year. Full-year pro forma revenue reached $1,586.1 million, while net income for 4Q was $20.7 million with earnings per share of $1.35. Management emphasizes a strong customer experience strategy and plans to continue enhancing their omnichannel approach.

RumbleOn, Inc. (NASDAQ: RMBL), a leading omnichannel powersports platform, will participate in the Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022. CEO Marshall Chesrown is scheduled for a fireside chat at 4:00 p.m. ET, while CFO Narinder Sahai will join him for one-on-one meetings. The event will be held in Orlando, Florida, and a webcast will be available afterward. RumbleOn aims to enhance the customer experience for outdoor enthusiasts and increase accessibility to powersport vehicles nationwide.

RumbleOn (NASDAQ: RMBL) has completed the acquisition of Freedom Powersports, adding 13 retail locations in Texas, Georgia, and Alabama. This acquisition strengthens RumbleOn's national footprint to over 55 locations and enhances its omnichannel platform. The deal, valued at approximately $130 million, includes cash and stock components. RumbleOn also affirmed its revenue outlook for 2021, projecting $1.55 billion to $1.60 billion in revenue with adjusted EBITDA between $115 million and $120 million.