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RumbleOn, Inc., now RideNow Group, Inc., reports developments for a powersports retail and vehicle transportation business built around RideNow dealerships and Wholesale Express. News recurring for the company includes quarterly operating results, unit sales of new and pre-owned motorcycles, ATVs, side-by-sides, personal watercraft and other powersports products, as well as parts, apparel, accessories, finance and insurance, and aftermarket revenue.
Company updates also cover RideNow Cash Offer vehicle sourcing, asset-light automobile transportation brokerage activity, credit facility changes, leadership and governance changes, and the completed corporate rebrand, ticker change, headquarters relocation and dealership operating framework.
RumbleOn, Inc. (NASDAQ: RMBL) will release its fourth quarter and full year 2021 financial results on March 16, 2022, before market opening. A conference call is scheduled for 7:30 a.m. CT to discuss results and provide a business outlook for 2022. Interested parties can access the call by dialing (877) 407-9716 or via webcast on the company's Investor Relations website. RumbleOn, based in the Dallas Metroplex, is a technology-driven omnichannel platform for powersports vehicles.
RumbleOn (NASDAQ: RMBL) has announced a restructured management team to enhance future growth and improve customer experience. Following the departures of Mark Tkach and Bill Coulter, Peter Levy will take over as Chief Operating Officer. Promotions include Lyle Kramper as National Senior Vice President of Retail, overseeing regional operations. The company aims to leverage its experienced workforce to elevate customer engagement across all platforms.
RumbleOn, Inc. (NASDAQ: RMBL) has introduced a new consumer financing facility through its subsidiary, RumbleOn Finance, LLC. This initiative aims to enhance customer experience by providing easier access to financing for powersport vehicle purchases. CEO Marshall Chesrown emphasized that this move not only facilitates online and in-showroom sales but also helps customers pursue their passions with greater financial support.
The financing service represents a strategic effort to drive growth and improve sales across RumbleOn's omnichannel platform.
RumbleOn has appointed Narinder Sahai as Chief Financial Officer, effective February 1, 2022. With over 18 years of finance leadership experience from companies like Amazon Web Services and Target Hospitality, Sahai aims to strengthen RumbleOn's financial strategy and operations. His appointment follows the loss of former CFO Steve Berrard, with interim CFO Beverley Rath continuing as Corporate Controller. RumbleOn is known for its omnichannel customer experience in the powersports sector, disrupting the vehicle supply chain through innovative technology.
RumbleOn (NASDAQ: RMBL) has formed a strategic partnership with J.D. Power to introduce the exclusive Powersports CashOffer tool on the NADAGuides.com website. This collaboration aims to streamline the process for customers seeking instant cash offers for their powersport vehicles. RumbleOn's President, Peter Levy, expressed confidence in the partnership's potential to enhance lead generation and referral strategies. The alliance is anticipated to fortify RumbleOn's position as a leader in the omnichannel customer experience within the powersports industry.
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.