RumbleOn, Inc. (NASDAQ: RMBL), the "Company" or "RumbleOn",
today announced results for the second quarter ended June 30,
2024.
Key Second Quarter 2024 Highlights (Compared to Second
Quarter 2023):
- Revenue of $336.8 million decreased 12.0%
- Net loss totaled $0.7 million compared to net loss of $13.6
million
- Selling, general & administrative expense (SG&A) was
$71.4 million compared to $100.3 million. Adjusted SG&A(1)
decreased 19.4% to $70.8 million, or 78.7% of gross profit (GP),
from $87.8 million, or 82.5% of GP
- Adjusted EBITDA(1)(2) of $16.2 million decreased 19.8%
Other Highlights:
- Operating cash flows for the first half of 2024 totaled $29.2
million compared to $(5.6) million in 2023. Free Cash Flow(1) for
the first half of 2024 was $28.2 million compared to $(11.6)
million in the 2023 period
- The Company reduced Non-Vehicle Net Debt by $33.8 million in
the first half of 2024
- Executed an amendment with Term Loan Lender
- Executed the initial phase of Vision 2026 strategy to run the
best dealerships in America, which is expected to yield $30 million
of annualized savings
- In June, the Company opened RideNow Powersports Houston, a
dedicated pre-owned vehicle dealership
"Our second quarter performance reflects the strength of our
powersports dealership group as we continue to progress on our
turnaround. It is a challenging time for the powersports industry,
as we navigate a high interest environment, a cautious consumer,
and inflated new major unit inventories. Despite these challenges,
I'm proud of the way our team has responded. The team's efforts
delivered positive free cash flow during the first half of 2024,
and we expect to continue to deliver positive free cash flow in the
back half of 2024. We remain laser focused on achieving our Vision
2026 goals and creating per-share value," stated Mike Kennedy,
RumbleOn's CEO.
Second Quarter 2024 Results
Second Quarter
($ in millions)
2024
2023
YOY Change
Revenue
$
336.8
$
382.7
(12.0)%
Gross Profit
$
89.9
$
106.4
(15.5)%
SG&A
$
71.4
$
100.3
(28.8)%
Adjusted SG&A(1)
$
70.8
$
87.8
(19.4)%
Operating Income
$
15.4
$
0.8
NM
Loss from Continuing Operations
$
(0.7
)
$
(12.8
)
94.5%
Adjusted EBITDA(1)(2)
$
16.2
$
20.2
(19.8)%
Unit Retail Sales:
New Powersports
12,004
13,126
(8.5)%
Pre-owned Powersports
4,796
6,137
(21.9)%
First Half
($ in millions)
2024
2023
YOY Change
Operating Cash Flow
$
29.2
$
(5.6
)
621.4%
Capital Expenditures
$
(1.0
)
$
(6.0
)
(83.3)%
Free Cash Flow(1)
$
28.2
$
(11.6
)
343.1%
June 30, 2024
Dec. 31, 2023
Change
Cash
$
58.1
$
58.9
(1.4)%
Long-term Debt, including current
maturities
$
247.7
$
274.3
(9.7)%
Non-Vehicle Debt
$
267.2
$
301.8
(11.5)%
Non-Vehicle Net Debt(1)
$
209.1
$
242.9
(13.9)%
(1) Adjusted SG&A, EBITDA, Adjusted
EBITDA, Free Cash Flow, and Non-Vehicle Net Debt are non-GAAP
measures. Reconciliations of GAAP to non-GAAP financial measures
are provided in accompanying financial schedules.
2) This quarter we updated our definition
of Adjusted EBITDA to align with dealership industry.
NM = Not meaningful.
Second Quarter 2024 — Segment Results
Powersports Segment
Second Quarter
$ in millions, except per unit
2024
2023
YOY Change
Unit Sales (#)
Retail
New
12,004
13,126
(8.5)%
Pre-owned
4,796
6,137
(21.9)%
Total retail
16,800
19,263
(12.8)%
Pre-owned wholesale
907
1,014
(10.6)%
Total Powersports Unit Sales
17,707
20,277
(12.7)%
Revenue
New
$
175.8
$
185.5
(5.2)%
Pre-owned
59.2
84.2
(29.7)%
Finance & Insurance, net
29.7
33.2
(10.5)%
Parts, Services, and Accessories
56.9
65.4
(13.0)%
Total Powersports Revenue
$
321.6
$
368.3
(12.7)%
Gross Profit
New
$
21.6
$
28.6
(24.5)%
Pre-owned
9.3
10.9
(14.7)%
Finance & Insurance, net
29.7
33.2
(10.5)%
Parts, Services, and Accessories
26.2
30.4
(13.8)%
Total Powersports Gross Profit
$
86.8
$
103.1
(15.8)%
Powersports GPU(1)
$
5,167
$
5,349
(3.4)%
(1) Calculated as total powersports gross
profit divided by total retail units sold.
Vehicle Transportation Services
Segment
Second Quarter
($ in millions)
2024
2023
Change
Vehicles Transported (#)
23,334
23,637
(1.3)%
Vehicle Transportation Services
Revenue
$
15.2
$
14.4
5.6%
Vehicle Transportation Services Gross
Profit
$
3.1
$
3.4
(8.8)%
Investor Conference Call
RumbleOn's management will host a conference call to discuss
these results on August 7, 2024 at 7:00 a.m. Central Time (8:00
a.m. Eastern Time). To access the conference call, callers may dial
1-646-307-1865 (or 1-800-717-1738 for callers outside of the United
States) and enter conference ID 16525. A live and archived webcast
will be accessible from RumbleOn's Investor Relations website at
https://investors.rumbleon.com.
About RumbleOn
RumbleOn, Inc. (NASDAQ: RMBL), operates through two operating
segments: our Powersports dealership group and Wholesale Express,
LLC, an asset-light transportation services provider focused on the
automotive industry. Our Powersports group is the largest
powersports retail group in the United States (as measured by
reported revenue, major unit sales and dealership locations),
offering over 500 powersports franchises representing 50 different
brands of products. Our Powersports group sells a wide selection of
new and pre-owned products, including parts, apparel, accessories,
finance & insurance products and services, and aftermarket
products. We are the largest purchaser of pre-owned powersports
vehicles in the United States and utilize RideNow's Cash Offer to
acquire vehicles directly from consumers.
For more information on RumbleOn, please visit rumbleon.com.
Forward-Looking Statements
This press release contains "forward-looking statements" as that
term is defined under the Private Securities Litigation Reform Act
of 1995, which statements may be identified by words such as
"expects," "projects," "will," "may," "anticipates," "believes,"
"should," "intends," "estimates," and other words of similar
meaning. Readers are cautioned not to place undue reliance on these
forward-looking statements, which are based on our expectations as
of the date of this press release and speak only as of the date of
this press release and are advised to consider the factors listed
under the heading "Forward-Looking Statements" and "Risk Factors"
in the Company's SEC filings, as may be updated and amended from
time to time. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Non-GAAP Measures
To supplement its consolidated financial statements, which are
prepared and presented in accordance with accounting principles
generally accepted in the United States of America (“GAAP”), the
Company uses the following non-GAAP financial measures: EBITDA,
Adjusted EBITDA, Free Cash Flow, Non-Vehicle Net Debt, and Adjusted
SG&A (collectively the “non-GAAP financial measures”). The
presentation of this financial information is not intended to be
considered in isolation or as a substitute for, or superior to, the
financial information prepared and presented in accordance with
GAAP. The Company uses these non-GAAP financial measures for
financial and operational decision making and as a means to
evaluate period-to-period comparisons. The Company believes that
they provide useful information about operating results, enhance
the overall understanding of our operating performance and future
prospects, and allow for greater transparency with respect to key
metrics used by management in its financial and operational
decision making. The non-GAAP measures used by the Company in this
press release may be different from the measures used by other
companies.
RumbleOn, Inc.
Condensed Consolidated Statements of Operations (Unaudited)
(in millions, except per share amounts)
Three Months Ended June
30,
Six Months Ended June
30,
2024
2023
2024
2023
Revenue:
Powersports vehicles
$
235.0
$
269.7
$
449.8
$
503.0
Parts, service and accessories
56.9
65.4
109.8
124.5
Finance and insurance, net
29.7
33.2
55.5
60.4
Vehicle transportation services
15.2
14.4
29.5
29.2
Total revenue
336.8
382.7
644.6
717.1
Cost of revenue:
Powersports vehicles
204.1
230.3
389.2
431.3
Parts, service and accessories
30.7
35.0
60.0
66.8
Vehicle transportation services
12.1
11.0
22.9
22.3
Total cost of revenue
246.9
276.3
472.1
520.4
Gross profit
89.9
106.4
172.5
196.7
Selling, general and administrative
71.4
100.3
145.3
186.6
Depreciation and amortization
3.1
5.3
6.6
10.0
Operating income
15.4
0.8
20.6
0.1
Other income (expense):
Floor plan interest expense
(4.3
)
(3.4
)
(8.3
)
(5.9
)
Other interest expense, net
(11.9
)
(14.9
)
(24.0
)
(30.0
)
Other income
—
0.1
0.3
0.1
Total other expense
(16.2
)
(18.2
)
(32.0
)
(35.8
)
Loss from continuing operations before
income taxes
(0.8
)
(17.4
)
(11.4
)
(35.7
)
Income tax benefit
(0.1
)
(4.6
)
(0.4
)
(6.2
)
Loss from continuing operations
$
(0.7
)
$
(12.8
)
$
(11.0
)
$
(29.5
)
Loss from discontinued operations
—
(0.8
)
—
(1.0
)
Net loss
$
(0.7
)
$
(13.6
)
$
(11.0
)
$
(30.5
)
Weighted average shares-basic and
diluted
35.2
16.5
35.2
16.3
Loss from continuing operations per share
- basic and diluted
$
(0.02
)
$
(0.78
)
$
(0.31
)
$
(1.81
)
Net loss per share - basic and diluted
$
(0.02
)
$
(0.83
)
$
(0.31
)
$
(1.87
)
Common shares outstanding, net of treasury
stock, at period end
35.3
16.6
35.3
16.6
RumbleOn, Inc.
Condensed Consolidated Balance Sheets ($ in millions)
(Unaudited)
June 30, 2024
December 31, 2023
ASSETS
Current assets:
Cash
$
58.1
$
58.9
Restricted cash
13.0
18.1
Accounts receivable, net
35.4
50.3
Inventory
347.6
347.5
Prepaid expense and other current
assets
2.6
6.0
Total current assets
456.7
480.8
Property and equipment, net
73.4
76.8
Right-of-use assets
162.8
163.9
Franchise rights and other intangible
assets
201.6
203.3
Other assets
1.5
1.5
Total assets
$
896.0
$
926.3
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities:
Accounts payable and other current
liabilities
73.2
$
68.1
Vehicle floor plan notes payable
295.4
291.3
Current portion of long-term debt
39.2
35.6
Total current liabilities
407.8
395.0
Long-term liabilities:
Long-term debt
208.5
238.7
Operating lease liabilities
134.1
134.1
Other long-term liabilities, including
finance lease obligation
52.2
52.9
Total long-term liabilities
394.8
425.7
Total liabilities
802.6
820.7
Commitments and contingencies
Stockholders’ equity:
Additional paid-in capital
690.0
701.0
Accumulated deficit
(592.3
)
(591.1
)
Treasury stock
(4.3
)
(4.3
)
Total stockholders’ equity
93.4
105.6
Total liabilities and stockholders’
equity
$
896.0
$
926.3
RumbleOn, Inc.
Condensed Consolidated Statements of Cash Flows (Unaudited)
($ in millions)
Six Months Ended June
30,
2024
2023
CASH FLOWS FROM OPERATING
ACTIVITIES
Net loss
$
(11.0
)
$
(30.5
)
Loss from discontinued operations
—
(1.0
)
Loss from continuing operations
(11.0
)
(29.5
)
Adjustments to reconcile loss from
continuing operations to net cash provided by operating
activities:
Depreciation and amortization
6.6
10.0
Amortization of debt issuance costs
4.4
4.8
Stock-based compensation
2.8
7.8
Deferred taxes
(0.4
)
(6.5
)
Gain on partial termination of warehouse
lease
(0.9
)
—
Interest paid-in-kind capitalized in debt
principal
0.6
—
Valuation allowance charge for loan
receivable assets
—
6.2
Changes in operating assets and
liabilities, net of acquisitions:
Accounts receivable
14.9
(6.8
)
Inventory
(0.1
)
3.1
Prepaid expenses and other assets
3.4
0.3
Other liabilities
1.9
4.0
Accounts payable and accrued
liabilities
5.0
2.1
Floor plan trade note borrowings
2.0
(1.1
)
Net cash provided by (used in)
operating activities
29.2
(5.6
)
CASH FLOWS FROM INVESTING
ACTIVITIES
Acquisitions, net of cash received
—
(3.3
)
Purchase of property and equipment
(1.0
)
(6.0
)
Technology development
(0.4
)
(1.1
)
Net cash used in investing
activities
(1.4
)
(10.4
)
CASH FLOWS FROM FINANCING
ACTIVITIES
Repayment of debt, including finance
leases
(35.5
)
(8.4
)
Increase (decrease) in borrowings from
non-trade floor plans
2.1
25.2
Shares redeemed for employee tax
obligations
—
(0.7
)
Other financing
(0.3
)
—
Net cash provided by (used in)
financing activities
(33.7
)
16.1
CASH FLOWS FROM DISCONTINUED
OPERATIONS
Net cash provided by operating
activities
—
3.7
Net cash used in financing activities
—
(5.3
)
Net cash used in discontinued
operations
—
(1.6
)
NET CHANGE IN CASH
(5.9
)
(1.5
)
Cash and restricted cash at beginning
of period
77.0
58.6
Cash and restricted cash at end of
period
$
71.1
$
57.1
RumbleOn, Inc. Non-GAAP Measures
(Unaudited) ($ in millions)
EBITDA and Adjusted EBITDA
We define EBITDA as net loss adjusted to add back interest
expense, the impact of income taxes, depreciation and amortization
and discontinued operations. Adjusted EBITDA further adds back
non-cash stock-based compensation costs, transaction costs, certain
litigation expenses not associated with our ongoing operations,
charges related to the 2023 proxy contest and reorganization of our
Board of Directors, and other non-recurring costs and credits, as
these recoveries, charges and expenses are not considered a part of
our core business operations and are not necessarily an indicator
of ongoing, future company performance. Beginning with this quarter
and to align with industry practice, Adjusted EBITDA is reduced by
floor plan interest expense. Our industry typically treats Interest
expense on vehicle floor plan debt as operating expense, as vehicle
floor plan debt is integral to our operations and is collateralized
by our powersports vehicles. For prior period Adjusted EBITDA under
this revised definition, see the schedule at the end of this
release.
Adjusted EBITDA is one of the primary metrics we use to evaluate
the financial performance of our business. We present Adjusted
EBITDA because we believe it is helpful in highlighting trends in
our operating results and it is frequently used by analysts,
investors and other interested parties to evaluate companies in our
industry.
A reconciliation of net loss to EBITDA and Adjusted EBITDA is
provided below:
Second Quarter
First Half
2024
2023
2024
2023
Net loss (GAAP)
$
(0.7
)
$
(13.6
)
$
(11.0
)
$
(30.5
)
Loss from discontinued operations
—
(0.8
)
—
(1.0
)
Loss from continuing operations
(0.7
)
(12.8
)
(11.0
)
(29.5
)
Add back:
Floor plan interest expense
4.3
3.4
8.3
5.9
Other interest expense
11.9
14.9
—
24.0
30.0
Depreciation and amortization
3.1
5.3
6.6
10.0
Income tax provision (benefit)
(0.1
)
(4.6
)
(0.4
)
(6.2
)
EBITDA (non-GAAP)
18.5
6.2
27.5
10.2
Adjustments:
Floor plan interest expense
(4.3
)
(3.4
)
(8.3
)
(5.9
)
Stock-based compensation
1.4
4.9
2.8
7.8
Lease expense associated with favorable
related party leases in excess of contractual lease payments
0.2
0.3
0.5
0.6
Other non-recurring costs(1)
0.4
0.3
1.3
1.0
Personnel restructuring costs(2)
—
3.8
0.1
4.7
Proxy contest and Board reorganization
charges
—
4.7
—
4.7
Loss associated with ROF loan
receivables(3)
—
3.4
—
5.4
Adjusted EBITDA (non-GAAP)
$
16.2
$
20.2
$
23.9
$
28.5
(1) Other non-recurring costs, which
include one-time expenses incurred. For 2024 period, this was
primarily costs for a canceled service contract and litigation
settlement expenses. Balance in 2023 was comprised primarily of
integration costs and professional fees associated with
acquisitions and a death benefit to the estate of a former Company
officer and director.
(2) Amount in 2023 is primarily comprised
of expenses associated with the separation of a former officer of
the Company.
(3) Loss associated with the fair value of
the RumbleOn Finance loan receivables portfolio, which was sold
during the fourth quarter of 2023.
RumbleOn, Inc. Non-GAAP Measures
(Unaudited) ($ in millions)
Free Cash Flow
We define Free Cash Flow as cash flows from operating activities
less capital expenditures of property and equipment (not including
acquisitions). We view free cash flow when assessing the Company's
sources of liquidity and capital resources. We believe that free
cash flow is helpful in understanding the Company's capital
requirements and provides an additional means to reflect the cash
flow trends in the Company's business. We believe Free Cash Flow is
useful to investors because it represents the cash that our
operating businesses generate, before taking into account
non-operational cash movements. Free Cash Flow has certain
limitations in that it does not represent the total increase or
decrease in the cash balance for the period, nor does it represent
the residual cash flow for discretionary expenditures. Therefore,
we think it is important to evaluate Free Cash Flow along with our
consolidated statement of cash flows.
A reconciliation of cash flows from operating activities to Free
Cash Flow is provided below:
First Half
2024
2023
Cash flows from operating activities
(GAAP)
$
29.2
$
(5.6
)
Less:
Capital expenditures
(1.0
)
(6.0
)
Free Cash Flow (non-GAAP)
$
28.2
$
(11.6
)
Non-Vehicle Net Debt
We define Non-Vehicle Net Debt as total principal of long-term
debt, including current maturities, less unrestricted cash. While
restricted cash was previously included in our calculation,
beginning with this earnings release we revised this definition to
exclude restricted cash. Our restricted cash is principally related
to vehicle floor plan debt. Vehicle floor plan debt and finance
lease obligations are not included in this measure. Previously
reported amounts of this non-GAAP measure included within this
earnings release have been revised to exclude restricted cash. We
believe that Non-Vehicle Net Debt is useful to investors and
analysts as a measure of our financial position. We use Non-Vehicle
Net Debt to monitor and compare our financial position from period
to period.
A reconciliation of total long-term debt, including current
maturities to Non-Vehicle Net Debt is provided below:
($ in millions)
As of June 30,
2024
As of December 31,
2023
Long-term debt, including current
maturities (GAAP)
$
247.7
$
274.3
Add back: unamortized debt discount and
debt issuance costs
19.5
27.5
Principal of long-term debt, including
current maturities
267.2
301.8
Less: unrestricted cash
(58.1
)
(58.9
)
Non-Vehicle Net Debt (non-GAAP)
$
209.1
$
242.9
RumbleOn, Inc. Non-GAAP Measures
(Unaudited) ($ in millions)
Adjusted SG&A
We define Adjusted SG&A as SG&A adjusted to deduct
transaction costs, certain litigation expenses not associated with
our ongoing operations, charges related to the 2023 proxy contest
and reorganization of our Board of Directors, and other
non-recurring costs, as these charges and expenses are not
considered a part of our core business operations and are not
necessarily an indicator of the ongoing run rate of our SG&A.
We use Adjusted SG&A to measure our progress toward achieving
our Vision 2026 goals. Adjusted SG&A is a non-GAAP financial
measure and should not be used as a replacement for SG&A
reported in compliance with GAAP. Adjusted SG&A has certain
limitations in that it does not represent the total SG&A for
the period. Therefore, we think it is important to evaluate
Adjusted SG&A along with SG&A and our overall statement of
operations.
A reconciliation of SG&A to Adjusted SG&A is below:
Second Quarter
First Half
2024
2023
2024
2023
SG&A (GAAP)
$
71.4
$
100.3
$
145.3
$
186.6
% of Gross Profit
79.4
%
94.3
%
84.2
%
94.9
%
Adjustments:
Lease expense associated with favorable
related party leases in excess of contractual lease payments
(0.2
)
(0.3
)
(0.5
)
(0.6
)
Other non-recurring costs(1)
(0.4
)
(0.3
)
(1.3
)
(1.0
)
Personnel restructuring costs(2)
—
(3.8
)
(0.1
)
(4.7
)
Charges related to proxy contest and Board
of Directors reorganization
—
(4.7
)
—
(4.7
)
Loss associated with RumbleOn Finance loan
receivables(3)
—
(3.4
)
—
(5.4
)
Adjusted SG&A (non-GAAP)
$
70.8
$
87.8
$
143.4
$
170.2
% of Gross Profit
78.7
%
82.5
%
83.1
%
86.5
%
(1) Other non-recurring costs, which
include one-time expenses incurred. For the 2024 period, amount
consisted primarily of costs for a canceled service contract, and
litigation settlement expenses. For the 2023 period, the balance
was comprised primarily of integration costs and professional fees
associated with acquisitions and a death benefit to the estate of a
former Company officer and director.
(2) Amount in 2023 is primarily comprised
of expenses associated with the separation of a former officer of
the Company.
(3) Loss associated with the fair value of
the RumbleOn Finance loan receivables portfolio, which was sold
during the fourth quarter of 2023.
RumbleOn, Inc. Supplementary Data
(Unaudited)
Key Term Loan Credit Agreement Covenant Compliance
Calculations as of June 30, 2024(1)
Consolidated Total Net Leverage
Ratio
4.6x
Covenant
Maximum Allowed
5.5x
Consolidated Senior Secured Net
Leverage Ratio
4.6x
Covenant
Maximum Allowed
5.0x
(1) Calculated in accordance with our credit agreement.
RumbleOn, Inc. Supplementary
Schedule (Unaudited) ($ in millions)
EBITDA and Adjusted EBITDA (as revised)
A reconciliation of net loss to EBITDA and Adjusted EBITDA for
prior periods under the definition revised beginning with our
earnings release for the second quarter of 2024 is provided
below:
2023
2024
Q1
Q2
Q3
Q4
Full Year
Q1
Net loss (GAAP)
$
(16.9
)
$
(13.6
)
$
(16.5
)
$
(168.5
)
$
(215.5
)
$
(10.3
)
Loss from discontinued operations
(0.2
)
(0.8
)
—
(0.1
)
(1.1
)
—
Loss from continuing operations
(16.7
)
(12.8
)
(16.5
)
(168.4
)
(214.4
)
(10.3
)
Add back:
Floor plan interest expense
2.5
3.4
3.9
3.4
13.2
4.0
Other interest expense
15.1
14.9
—
16.0
18.0
64.0
12.1
Depreciation and amortization
4.7
5.3
7.2
4.8
22.0
3.5
Income tax provision (benefit)
(1.6
)
(4.6
)
(3.5
)
69.0
59.3
(0.3
)
EBITDA (non-GAAP)
4.0
6.2
7.1
(73.2
)
(55.9
)
9.0
Adjustments:
Floor plan interest expense
(2.5
)
(3.4
)
(3.9
)
(3.4
)
(13.2
)
(4.0
)
Stock-based compensation
2.9
4.9
3.1
1.1
12.0
1.4
Lease expense associated with favorable
related party leases in excess of contractual lease payments
0.3
0.3
0.2
0.3
1.1
0.3
Other non-recurring costs(1)
0.7
0.3
1.1
0.6
2.7
0.9
Personnel restructuring costs(2)
0.9
3.8
0.6
—
5.3
0.1
Charges related to proxy contest and Board
of Directors reorganization
—
4.7
0.4
—
5.1
—
Loss associated with RumbleOn Finance loan
receivables(3)
2.0
3.4
0.6
1.6
7.6
—
Pre-owned vehicle inventory valuation
adjustment(4)
—
—
—
12.6
12.6
—
Impairment of goodwill and franchise
rights
—
—
—
60.1
60.1
—
Adjusted EBITDA (non-GAAP)
$
8.3
$
20.2
$
9.2
$
(0.3
)
37.4
7.7
(1) Other non-recurring costs, which
include one-time expenses incurred. For the 2024 period, amount
consisted primarily of costs for a canceled service contract and
litigation settlement expenses. For the 2023 period, the balance
was comprised primarily of integration costs and professional fees
associated with acquisitions and a death benefit to the estate of a
former Company officer and director.
(2) Amount in 2023 is primarily comprised
of expenses associated with the separation of a former officer of
the Company.
(3) Loss associated with the fair value of
the RumbleOn Finance loan receivables portfolio, which was sold
during the fourth quarter of 2023.
(4) Reflects write-down to net realizable
value for pre-owned inventory purchased at elevated pandemic prices
that are no longer supported.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240807079791/en/
Investor Relations Contact: investors@rumbleon.com
RumbleOn (NASDAQ:RMBL)
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De Oct 2024 a Nov 2024
RumbleOn (NASDAQ:RMBL)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024
