Rumbleon Inc Stock Price, News & Analysis

DALLAS--(BUSINESS WIRE)--RumbleOn, a technology-driven omnichannel powersport platform, will have its CEO, Marshall Chesrown, present at the ICR Conference on January 11th, 2022, at 3:30 p.m. ET. The presentation will be in a fireside chat format and available through a live and archived webcast on the RumbleOn investor relations website. RumbleOn focuses on buying, selling, trading, and financing powersport vehicles, enhancing customer and dealer transactions.

RumbleOn has finalized its acquisition of a Jacksonville-based powersports retail location, marking a strategic move to enhance its omnichannel marketplace in Florida. This location has shown steady revenue growth and profitability. The acquisition also includes various manufacturer product lines, such as Yamaha and Suzuki. CEO Marshall Chesrown highlighted this transaction as part of their growth strategy post their merger with RideNow. RumbleOn aims to continue strengthening customer experience and efficiency within its retail powersports brand.

RumbleOn, Inc (NASDAQ: RMBL) reported Q3 2021 financial results with a significant 88.1% year-over-year revenue increase to $221.2 million. Powersports unit sales rose 99.8% to 8,518 units, driving gross profit to $37.4 million. The company has raised its full-year 2021 revenue and adjusted EBITDA guidance by approximately 5%. Used retail unit sales surged 53%, illustrating strong momentum. Despite a net loss of $22.5 million for Q3, RumbleOn remains focused on strategic growth through acquisitions and technology enhancement.

RumbleOn, Inc. (NASDAQ:RMBL) has announced a definitive agreement to acquire Freedom Powersports, encompassing 13 locations across Texas, Georgia, and Alabama. This acquisition aims to enhance RumbleOn's market presence, expanding its footprint to over 55 locations nationwide. The strategic move is expected to bolster RumbleOn's omnichannel offering and is projected to be accretive from day one without the need for equity capital. Closing is anticipated in late 2021 or early 2022, pending customary conditions.

RumbleOn, Inc. (NASDAQ: RMBL), the largest retailer of powersports vehicles, will release its third quarter 2021 financial results before the market opens on November 15, 2021. A conference call will follow at 8:30 a.m. ET to discuss these results. Investors can access the call by dialing 1-877-407-9716 or through a live webcast on the company's Investor Relations website. RumbleOn revolutionizes the powersports market by enabling seamless transactions through innovative technology, enhancing the buying, selling, and trading experience.

RumbleOn, Inc. (NASDAQ: RMBL) has opened a new 60,000-square-foot fulfillment center in Orlando, Florida, enhancing its capacity to process thousands of powersport vehicles monthly. This facility will utilize advanced technology for reconditioning, inspection, and online presentation, thereby improving customer experience.

The opening aligns with RumbleOn's growth strategy, including future expansions in Dallas and Phoenix. The recent acquisition of a Jacksonville-based dealer also boosts RumbleOn's market position, reinforcing its status as the largest retailer of powersports vehicles in the U.S.

RumbleOn, Inc. (NASDAQ: RMBL) has entered an asset purchase agreement to acquire a Jacksonville-based powersports dealer that has demonstrated steady revenue growth and profitability. This acquisition marks RumbleOn's first since its business combination with RideNow on August 31, 2021. Expected to close in early Q4 2021, the acquisition aligns with RumbleOn's strategy to consolidate the highly fragmented powersports market and enhance its omnichannel customer experience.

RumbleOn, Inc. (NASDAQ: RMBL) has successfully closed its upsized public offering, raising approximately $167.0 million in gross proceeds. The offering included the full exercise of the underwriters' option, totaling about 5.1 million shares sold at $33.00 each. Additionally, RumbleOn completed its business combination with RideNow, acquiring 100% of its dealership portfolio. This strategic move positions RumbleOn as a leader in the powersports industry with an omnichannel customer experience. A conference call is set for September 1, 2021.

RumbleOn (NASDAQ: RMBL) announced that it expects to finalize its business combination with RideNow on August 31, 2021, acquiring 100% of RideNow's dealership portfolio. This move aims to create the first omnichannel consumer experience in North America's powersports market. RumbleOn has secured the necessary funds for the closing and is positioned to leverage changing consumer behaviors accelerated by recent events. The merger is seen as a significant step toward enhancing customer service and fulfilling brand aspirations in the industry.