Core Insights - RumbleOn, Inc. reported a significant decline in revenue and unit sales in the first quarter of 2025 compared to the same period in 2024, indicating challenges in the powersports segment [2][4][6] - The company is focused on turnaround initiatives despite the decline, with management expressing optimism about future performance [3][6] Financial Performance - Revenue for Q1 2025 was $244.7 million, down 20.5% from $307.8 million in Q1 2024 [4][15] - Gross profit decreased by 18.6% to $67.2 million from $82.6 million year-over-year [4][15] - Selling, general & administrative expenses (SG&A) were reduced to $61.1 million, a decrease of 17.3% from $73.9 million [4][15] - Adjusted EBITDA fell to $7.0 million, down 9.1% from $7.7 million in the previous year [4][19] Unit Sales and Segment Performance - Total retail unit sales in the powersports segment decreased by 20.6%, with new powersports units down 23.7% and pre-owned units down 13.9% [7][8] - Vehicle transportation services segment revenue dropped 61.5% to $5.5 million, with vehicles transported decreasing by 65.0% [8][15] Cash Flow and Liquidity - Operating cash flow was negative at $(6.9) million, compared to positive inflows of $17.0 million in Q1 2024 [4][9] - The company ended the quarter with total cash of $56.2 million, including restricted cash, and reported non-vehicle net debt of $188.2 million [9][22] Balance Sheet Highlights - Long-term debt, including current maturities, decreased to $215.5 million from $251.1 million [4][23] - Total assets as of March 31, 2025, were $738.9 million, down from $755.2 million at the end of 2024 [16][23] Management Commentary - The CEO highlighted the team's efforts in navigating a challenging consumer environment and expressed confidence in the company's turnaround strategies [3][6]

Core Viewpoint - RumbleOn, Inc. is set to release its First Quarter 2025 operational and financial results on May 7, 2025, before market opening [1] Company Overview - RumbleOn operates through two segments: a powersports dealership group and vehicle transportation services via Wholesale Express, LLC [3] - The powersports business, under the RideNow brand, is claimed to be the largest in the U.S., offering a variety of new and pre-owned powersports vehicles and related products [3] - RumbleOn is a significant purchaser of pre-owned powersports vehicles, utilizing proprietary technology for direct consumer acquisitions [3] - The Express business provides asset-light transportation brokerage services, primarily facilitating automobile transport among dealerships and auctions across the U.S. [3] Upcoming Events - A conference call and webcast to discuss the operational and financial results will take place on May 7, 2025, at 7:00 a.m. Central Time [2][4] - The call will be hosted by Mike Quartieri, the Chief Executive Officer and Interim Chief Financial Officer [2]