Total Revenue

–13% (fell from $311.17M in Q4 2023 to $269.6M in Q4 2024)

Total Revenue decreased by around 13% YoY largely due to a lower contribution from the Powersports segment and shifts in consumer demand, despite the strong performance in the New Vehicles segment. " "

New Vehicles Revenue

+132% (rose from $156.9M in Q4 2023 to $364.7M in Q4 2024)

New Vehicles revenue surged by 132% YoY driven by strong unit sales and favorable pricing adjustments, which significantly boosted revenue compared to the previous period. " " "

Powersports Revenue

–14% (declined from $298.3M in Q4 2023 to $256.2M in Q4 2024)

Powersports revenue fell by roughly 14% YoY due to softer demand and lower pre-owned vehicle sales, which negatively impacted the overall revenue mix compared to the prior period. " "

Operating Income

Improved (loss narrowed from $(69.32)M to $(40.60)M)

Losses in operating income narrowed significantly as cost-saving measures and improved SG&A management contributed to a smaller loss despite lower revenue levels. " "

Net Loss

Improved by 67% (reduced from $(168.53)M to $(56.40)M)

Net loss improved nearly 67% YoY due to effective cost reductions and operational improvements that mitigated the revenue decline, resulting in a far lower net loss compared to Q4 2023. " "

Operating Cash Flow

Turned positive to $30.80M in Q4 2024

Operating cash flow improved dramatically, turning positive at $30.80M, which was driven by better working capital management, including inventory reduction and strategic asset sales that improved liquidity compared to previous periods. "

Total Assets

Decreased from $926.3M in Q4 2023 to $755.2M in Q4 2024

Total assets declined by approximately $171.1M YoY as the company significantly reduced inventory levels and experienced lower cash balances, reflecting a tighter balance sheet relative to Q4 2023. " "

Stockholders’ Equity

Decreased from $105.6M in Q4 2023 to $36.7M in Q4 2024

Stockholders’ equity dropped sharply, largely driven by cumulative net losses and adjustments such as changes in additional paid-in capital, resulting in a major reduction in equity from the previous period. " "

Inventory Management

Q1 2024: Emphasis on a $60M reduction target, addressing heavy new inventory and rationalizing preowned mix. " " Q3 2024: Focus on a $50M reduction target, managing overstock challenges with OEM support and a 53.8% overall inventory reduction. " "

Q4 2024: Achieved over $80M reduction against a $50M target; continued focus on managing overstock (especially parts) and active OEM collaboration. " " "

Consistent effort with improved outcomes: The company has maintained focus on inventory reduction across periods—with Q4 showing stronger performance despite ongoing overstock challenges.

Cost Optimization and Efficiency Improvements

Q1 2024: Highlighted over $50M in cost reductions and improvements in SG&A metrics. " " Q3 2024: Noted $30M of annualized cost savings, enhanced SG&A ratios, and discussions on refinancing. " "

Q4 2024: Continued initiatives to streamline the cost structure, rightsize the organization, and further reduce SG&A expenses. " "

Consistent improvement: Across all periods, RumbleOn has maintained and built upon efficiency and cost-cutting measures, with Q4 reinforcing their disciplined approach.

Preowned Business Performance and Volume Trends

Q1 2024: Reported a 13.4% decline in preowned unit sales coupled with significant margin improvements via the Cash Offer tool. " " " Q3 2024: Noted a 19% decline in volume with lower gross margins, though inventory management remained a focus. " " "

Q4 2024: Preowned unit sales declined by 8.8% (a less severe drop) and gross margins improved significantly compared to prior negatives; future plans include a standalone retail center. "

Mixed performance: While volume declines persist, margin improvements and new strategic initiatives point to efforts to rebalance quality versus quantity of preowned business.

Promotional Activities and OEM Incentives Impacting Margins

Q1 2024: Discussed extremely high OEM promotional activity—with strong factory rebates and interest rate buydowns that pressured new unit margins. " " Q3 2024: This topic was not specifically mentioned.

Q4 2024: Reiterated that promotional activities, along with evolving OEM incentives and external factors like tariffs, continue to depress gross margins. "

Increased focus: Originally raised in Q1, the impact of promotional activities is now being emphasized alongside emerging external pressures, signaling continued concern over margin pressure.

Tariff Impacts on Key Products

Q1 & Q3 2024: No discussion on tariff impacts was noted.

Q4 2024: Management highlighted a dynamic global tariff landscape that could affect product affordability and customer demand. " "

New risk factor: Tariff impacts have emerged in Q4 as an additional risk factor, introducing greater uncertainty for margins and future sales.

Financing, Liquidity, and High-Interest Debt Management

Q1 2024: Reported $63.4M in cash and about $203M non-vehicle net debt, with refinancing options and free cash flow positivity on the horizon. " " " Q3 2024: Maintained a liquidity position with $66.7M cash, secured additional capital commitments, and explored credit facility adjustments. " " "

Q4 2024: Strengthened liquidity with $96.7M cash on hand, effective convertible note repayments, and continued efforts on refinancing to improve capital structure. "

Positive progress: The company's liquidity and debt management have improved steadily, with proactive refinancing and stronger cash positions enhancing financial flexibility.

Consumer Headwinds and Macroeconomic Pressures

Q1 2024: Faced challenges from higher interest rates, inflation, industry overstocking, and lower ASP along with aggressive OEM promotions. " " " Q3 2024: Acknowledged a difficult macroeconomic environment driving margin compression and slower growth. "

Q4 2024: Continued acknowledgement of consumer challenges including interest rate impacts, tariff uncertainty, and policy changes in a difficult macroeconomic landscape. " " "

Persistent challenges: Despite ongoing internal management efforts, macroeconomic pressures remain a consistent headwind—with Q4 adding new layers of complexity such as tariff and policy uncertainties.