RumbleON Q1 2021 Earnings Report
Key Takeaways
RumbleOn reported a 48% sequential increase in revenue and a 46% increase in gross profit for Q1 2021. The company improved its net income and achieved positive adjusted EBITDA. Looking ahead, RumbleOn projects year-over-year revenue growth of 66%-78% and gross profit growth of 113-125% in Q2.
Total vehicle unit sales increased by 32.2% from Q4 2020.
Total revenue increased by 48.1% from Q4 2020.
Gross profit per vehicle was $2,626, up from $2,241.
Positive Adjusted EBITDA of $0.02 million, an improvement from an Adjusted EBITDA loss of $(2.8) million in Q4 2020
RumbleON
RumbleON
RumbleON Revenue by Segment
Forward Guidance
RumbleOn provided guidance for Q2 2021, including revenue between $140.0 to $150.0 million, representing 66%-78% growth year-over-year, and gross profit of $18.0 to $19.0 million, representing 113%-125% growth year-over-year. The company also expects positive Adjusted EBITDA in the range of $1.2 million to $3.0 million.
Positive 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
Revenue & Expenses
Visualization of income flow from segment revenue to net income