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Jun 30, 2021
RumbleON Q2 2021 Earnings Report
RumbleOn's revenue grew and gross profit increased in Q2 2021.
Key Takeaways
RumbleOn reported a 100% year-over-year revenue growth and a 131% increase in gross profit for the second quarter of 2021. Total revenue reached $168.3 million, and gross profit was $19.5 million. The company also highlighted the pending business combination with RideNow, expected to close soon.
Total vehicle unit sales increased by 55% year-over-year to 5,711 units.
Total revenue increased by 100% year-over-year to $168.3 million.
Total gross profit increased by 131% year-over-year to $19.5 million, with a gross margin of 11.6%.
Operating income was $0.8 million, compared to $2.4 million in Q2 2020 which included $5.6 million of insurance proceeds related to the tornado damage in March 2020, and an improvement from an operating income of $(2.8) million in Q1 2021
RumbleON
RumbleON
RumbleON Revenue by Segment
Revenue by Segment
Powersports Revenue
CapyFin.comVehicle Transportation Services Revenue
CapyFin.com Forward Guidance
RumbleOn expects combined company 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, assuming a combination as of January 1, 2021. Given the pending business combination with RideNow, RumbleOn will not be providing standalone guidance for the third quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income