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RumbleOn, Inc. (NASDAQ: RMBL) is a leading retailer and service provider in the powersports industry, operating the largest powersports retail group in the United States. The company specializes in selling new and pre-owned powersports vehicles, including motorcycles, ATVs, and watercraft, while also offering parts, accessories, and financing solutions. Additionally, RumbleOn provides vehicle transportation services, leveraging its asset-light logistics model to support the automotive industry.
- Powersports Dealership Group - Sells new and pre-owned powersports vehicles, including motorcycles, three-wheeled motorcycles/autocycles, snowmobiles, watercraft, ATVs, UTVs, and side-by-sides. Offers parts, apparel, accessories, finance & insurance products, and aftermarket services.
- Pre-Owned Vehicle Acquisition - Utilizes proprietary Cash Offer technology to purchase pre-owned powersports vehicles directly from consumers.
- Vehicle Transportation Services - Provides asset-light transportation services for vehicles, focusing on the automotive industry.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Mark Tkach ExecutiveBoard | Chief Operating Officer (COO) | Consultant for Coulter Management Group, LLLP | Mark Tkach, co-founder of RideNow, became COO on January 13, 2025. He has over 40 years of experience in the powersports industry and previously served as Interim CEO and Director at RumbleOn. | |
Michael Quartieri ExecutiveBoard | Chief Executive Officer (CEO) | Board Member at Gambling.com Group (NASDAQ: GAMB) | Michael Quartieri became CEO of RumbleOn on January 13, 2025. He has extensive experience in financial leadership, having held CFO roles at Dave & Buster's, LiveOne, and Scientific Games. He is a CPA and USC graduate. | View Report → |
Brandy Treadway Executive | Chief Legal Officer and Secretary | None | Brandy Treadway joined RumbleOn as Chief Legal Officer on February 12, 2024. She has extensive legal experience, including roles at J.C. Penney and Weil, Gotshal & Manges. | |
Tiffany Kice Executive | Chief Financial Officer (CFO) | None | Tiffany Kice joined RumbleOn as CFO on June 24, 2024. She has over 25 years of financial leadership experience, including roles at Pegasus Logistics, Westwood Holdings, and KPMG. She is a CPA and Texas native. | |
Mark Cohen Board | Director | Managing Partner at Stone House Capital Management, LLC | Mark Cohen joined RumbleOn's board on August 30, 2023. He is the founder of Stone House Capital and has extensive investment experience. | |
Rebecca Polak Board | Vice Chairman and Lead Independent Director | Director at Moatable, Inc. (NYSE: MTBL) | Rebecca Polak joined RumbleOn's board on May 9, 2023, and became Vice Chairman on January 13, 2025. She has extensive legal and executive experience, including roles at CarLotz and KAR Auction Services. | |
Steven J. Pully Board | Chairman of the Board | Partner at Speyside Partners; Chairman & CEO at Harvest Oil and Gas; Chairman at Enzo Biochem (NYSE: ENZ); Independent Board Member at Heritage Power | Steven J. Pully became Chairman of the Board on December 15, 2023. He has extensive experience in investment banking, restructuring, and governance, and holds CFA and CPA certifications. | |
William Coulter Board | Director | Manager of Coulter Management Group LLLP | William Coulter, co-founder of RideNow, has been a director since July 14, 2023. He has over 50 years of experience in the automotive and powersports industries. |
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Despite achieving $30 million in annualized cost savings, adjusted SG&A expenses still represent 86% of gross profit, significantly above your Vision 2026 target of 75%. Given the declining gross profit dollars, how do you plan to bridge this gap without further impairing operational capabilities?
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New unit gross margins have declined from 13.8% to 11.3% year-over-year due to inventory overstocking and exiting non-core product lines. How confident are you that reducing new inventory levels will restore these margins, and what strategies are in place to prevent similar overstocking issues in the future?
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Pre-owned unit sales decreased by 19%, and pre-owned gross margins dropped to 12.1% from 13.6% year-over-year. Given the importance of the pre-owned business to your overall profitability, what specific actions are you taking to reverse this trend?
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With $217 million in non-vehicle net debt and convertible notes coming due on January 1, 2025 , you've secured $30 million in capital commitments. How do you plan to address the remaining debt obligations, and can you provide more details on your refinancing plans and their potential impact on your capital structure?
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Considering total revenue down 12.7% and adjusted EBITDA down 26.1% year-over-year , along with declining unit volumes, what gives you confidence in achieving your Vision 2026 targets, and are you considering revising these goals given current industry conditions?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Polaris | OEM manufacturer for new powersports vehicles | New Powersports Vehicles | 29.3% of total new vehicle revenue in 2023 |
BRP | OEM manufacturer for new powersports vehicles | New Powersports Vehicles | 25.6% of total new vehicle revenue in 2023 |
Harley-Davidson | OEM manufacturer for new powersports vehicles | New Powersports Vehicles | 11.3% of total new vehicle revenue in 2023 |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Harley-Davidson dealership (Revolution Road Harley-Davidson) | 2024 | RumbleOn acquired a Harley-Davidson dealership in West Bridgewater, Massachusetts, renaming it Revolution Road Harley-Davidson in August 2024. This acquisition supports its strategy to expand its network and drive accretive per-share value through disciplined capital deployment. |
Red Hills Powersports | 2023 | RumbleOn acquired Red Hills Powersports in March 2023 in Tallahassee, Florida, for approximately $3.3M in cash. The acquisition, which included a single retail location representing 10 OEMs and generated $2.6M in goodwill, strategically expanded its powersports footprint and was accounted for as a business combination. |
Freedom Powersports | 2022 | Completed on February 18, 2022, the Freedom Powersports deal involved an aggregate consideration of approximately $129.97M, combining cash, a draw facility under the Oaktree Credit Facility, and issuance of restricted shares; the acquisition encompassed 13 locations and included both business and real estate assets, with notable terms such as the payoff of $27.03M in mortgage debt. |
Recent press releases and 8-K filings for RMBL.
RumbleOn Inc Reports Q4 and Full Year 2024 Results
- Q4 Highlights: Revenue declined to $269.6 million (down 13.4%) while net loss improved to $56.4 million from $168.5 million in Q4 2023, with SG&A expenses reduced and Adjusted EBITDA turning positive at $2.2 million.
- Full Year Performance: Revenue fell to $1,209.2 million (an 11.5% decrease) and net loss narrowed to $78.6 million compared to $215.5 million in 2023, despite a 12.0% drop in Adjusted EBITDA, which stood at $32.9 million.
- Liquidity and Balance Sheet Improvements: The company repaid $38.8 million of convertible senior notes at maturity, raised $10 million via a rights offering, and significantly reduced inventories by $106.9 million.
RumbleOn Reports Q4 2024 and Full Year Financial Results
- Q4 2024 results showed a 13.4% decline in revenue to $269.6 million, while the net loss significantly improved to $56.4 million compared to $168.5 million in Q4 2023.
- The company achieved positive Adjusted EBITDA of $2.2 million in Q4 2024, marking an operational improvement from a loss in the previous year.
- Strategic financial actions included the full repayment of $38.8 million in convertible senior notes and a rights offering that raised $10 million, highlighting efforts to strengthen the balance sheet.