RumbleOn Reports Sequential Revenue Growth of 48%

“We have continued to enhance our strategy and technology stack, paving the road for RumbleOn to participate in a tremendous share of powersport transactions, with improved unit economics."

RumbleOn, Inc., an e-commerce company using innovative technology to aggregate and distribute pre-owned vehicles 100% online, announced financial results for the three months ended March 31, 2021.

“During the past year, we have continued to enhance our strategy and technology stack, paving the road for RumbleOn to participate in a tremendous share of powersport transactions, with improved unit economics. Our ‘buy direct from consumers’ strategy and our new B2B redistribution capabilities through DealerDirect means supply imbalances that would be headwinds for other business models, are tailwinds for RumbleOn,” said Marshall Chesrown, chief executive offer. “With our pending business combination with RideNow, we are creating the only omnichannel solution in the powersports industry – offering an unparalleled customer experience for outdoor enthusiasts across the country. RideNow’s significant physical retail platform provides another piece of a ‘bricks and clicks’ strategy for RumbleOn, enabling us to reach consumers wherever and most important however they want to shop, whether online, offline or both.”

“RumbleOn is making powersport ownership accessible to everyone – from the first time rider to the life-long enthusiast – and we are thrilled to give consumers the easiest and most transparent process to buy, sell, trade or finance available in powersports today. We have high ambitions and are excited about the next chapter for RumbleOn,” concluded Chesrown.

First Quarter 2021 Financial Highlights

Unless otherwise noted, all comparisons are on a quarter-over-quarter basis for the three months ended March 31, 2021 as compared to the three-months ended December 31, 2020:

  • Total vehicle unit sales was 3,500, a 32.2% increase from 2,647 in Q4 2020
    • Powersports unit sales was 1,006, up 17.0% from 860 units
    • Automotive unit sales was 2,494, up 39.6% from 1,787 units
  • Total revenue was $104.3 million, a 48.1% increase from $70.4 million in Q4 2020
    • Powersports revenue was $10.9 million, up 27.7% from $8.5 million
    • Automotive revenue was $84.1 million, up 52.1% from $55.3 million
    • Transportation and vehicle logistics revenue was $9.3 million, up 41.0% from $6.6 million
  • Total gross profit was $11.2 million, for a total gross margin of 10.7%, down 20 basis points from 10.9% in Q4 2020
    • Gross profit and gross margin for our vehicle distribution business was $9.2 million or 9.7% versus 9.3% in Q4 2020. Gross profit per vehicle was $2,626, up from $2,241
    • Powersports gross profit per powersport vehicle sold was $2,961
    • Automotive gross profit per automotive vehicle sold was $2,490
  • Sales, General and Administrative Expenses was $13.4 million, or 12.9% of revenue, down from 15.8% of revenue in Q4 2020
    • Advertising and Marketing expense was $1.6 million as compared to $1.0 million
    • Technology development expense was $0.4 million as compared to $0.4 million
    • General and Administrative expense was $3.8 million as compared to $3.9 million
  • Operating loss was $(2.8) million, an improvement from $(4.0) million in Q4 2020
  • Net loss was $(4.5) million, an improvement from $(5.5) million in Q4 2020
  • Positive Adjusted EBITDA of $0.02 million, an improvement from an Adjusted EBITDA loss of $(2.8) million in Q4 2020

A description of our results of operations for the first quarter of 2021 compared to the first quarter of 2020 will be included in the Quarterly Report on Form 10-Q.

Second Quarter 2021 Outlook

  • Total revenue range of $140.0 to $150.0 million, representing 66%-78% growth year-over-year
  • Gross profit of $18.0 to $19.0 million, representing 113%-125% growth year-over-year
  • Positive Adjusted EBITDA in the range of $1.2 million to $3.0 million

We expect our business combination with RideNow to close in late June or July of this year. We are reiterating our prior guidance on the combined company. Assuming a combination as of January 1, 2021, we expect revenue in a range of $1.45 billion to $1.55 billion and adjusted EBITDA in a range of $110.0 million to $115.0 million.

Link: RumbleOn

You May Also Like

Segway Powersports Continues to Staff Up

Todd Martin joins as regional business manager and Loren Templeton as the company’s newest business development manager.


Segway Powersports has added more veteran new hires to its staff as it continues to expand its talented team of experienced industry professionals. New hires include Todd Martin, a newly appointed regional business manager, and Loren Templeton, who joins the company as its newest business development manager. The two bring 36 years of industry experience to the Segway Powersports management team.

MIC Members Now Have the Power of Data

New interactive dashboards and historical sales data files are now available on the Motorcycle Industry Council’s website.

Motorcycle Industry Council
Honda Announces National Technician Contest

Top qualifiers from Honda’s online technician test will travel to Alpharetta, Georgia, for the National Final.

OTR Hires Global Vice President of Sales and Marketing OEM

OTR Engineered Solutions appointed Ben Brown to grow the company’s OEM business globally.

Peugeot Motorcycles Italia Sentenced to Pay Piaggio Group in Patent Infringement Case

Piaggio continues its fight to protect its products against counterfeiting.


Other Posts

Triumph Motorcycle Dealers Rank 1st for Easy Appointments

Across the powersports industry, one in seven powersports customers failed in an attempt to schedule service.

RumbleOn Appoints New Chief Financial Officer

Tiffany Kice brings over 25 years of experience in financial leadership roles for public and private companies.

Yuasa Battery Inc. Announces New President, CEO

Rio Okubo, with over 25 years in the battery industry, takes over as the new president and CEO.

AMA Pro Racing Announces AFT AdventureTrackers Regulations

Adventure bikes are supremely versatile machines, so these rules have been constructed to showcase the inherent capabilities of the bikes when piloted by professionals.

AFT racer