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Sep 30, 2023
RumbleON Q3 2023 Earnings Report
RumbleOn's financial performance decreased due to seasonality, but progress was made in strengthening the balance sheet and cutting costs.
Key Takeaways
RumbleOn reported a decrease in revenue and profitability for Q3 2023, impacted by typical seasonality in the powersports business. The company focused on strengthening its balance sheet and reducing costs during the quarter.
Total Unit Sales reached 17,573, with a New:Used ratio of 1.6x.
Total Company Revenue was $338.1 million, reflecting an 11.7% sequential decrease.
Total Company Gross Profit was $91.9 million, with a Gross Profit Margin of 27.2%.
Net Loss from Continuing Operations amounted to $16.5 million, with a Loss per Share of $0.99.
RumbleON
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RumbleON Revenue by Segment
Forward Guidance
RumbleOn is reaffirming its outlook for the full year 2023 and full year 2024.
Positive Outlook
- Total Powersports and Transportation Revenue of $1.38 billion to $1.48 billion.
- Powersports GPU of approximately $5,300 to $5,400.
- Adjusted EBITDA of $55 million to $65 million.