12 • June 2025 • Powersports Business
FINANCE www. PowersportsBusiness. com
RumbleOn reports Q1 revenue drop, narrows loss amid turnaround efforts
RumbleOn, the largest powersports retailer in North America, reported a 20.5 % year-over-year decline in revenue for the first quarter of 2025, totaling $ 244.7 million. The drop was largely attributed to a significant slowdown in powersports unit sales and a steep decline in vehicle transportation activity.
Despite lower revenues, RumbleOn slightly narrowed its net loss to $ 9.7 million, compared to $ 10.3 million in the first quarter of 2024. The company also made meaningful progress on cost control, slashing its selling, general, and administrative expenses( SG & A) by $ 12.8 million to $ 61.1 million.
“ CEO and Chairman Michael Quartieri, who is also serving as interim CFO, expressed optimism –“ Although we experienced a year-over-year volume decline in our powersports segment, the team is making progress on our turnaround initiatives.”
KEY Q1 METRICS
• Total revenue: $ 244.7 million( 20.5 %)
• Gross profit: $ 67.2 million( 18.6 %)
• Adjusted EBITDA: $ 7 million( 9.1 %)
• Operating cash flow: Outflow of $ 6.9 million( compared to $ 17 million inflow in Q1 2024)
• Total powersports unit sales: 13,186( 20.5 %)
• Vehicle transportation services revenue: $ 5.5 million( 61.5 %)
The powersports segment saw a 23.7 % drop in new vehicle sales and a 13.9 % decline in pre-owned sales. However, gross profit per unit( GPU) improved by 5.2 % to $ 5,365, signaling better margins despite fewer sales.
Meanwhile, RumbleOn’ s vehicle transportation services saw a sharp 65 % plunge in vehicle transports, contributing to an $ 8.8 million revenue decline for the segment.
DEALER FINANCIAL SNAPSHOT
RumbleOn CEO and Chairman Michael Quartieri, who is also serving as interim CFO, expressed optimism about the Q1 results.( Photo: RumbleOn)
On the balance sheet side, the company repaid $ 38.8 million in convertible senior notes and ended the quarter with $ 56.2 million in total cash and $ 171.4 million in available liquidity. Inventory rose to $ 272.6 million, while total liabilities slightly decreased to $ 712 million.
NORTHWEST-4.3 % Parts Department 0.9 % Service Department-0.2 % Major Units-0.5 % Overall
WEST-5.3 % Parts Department-3.1 % Service Department-2.4 % Major Units-2.8 % Overall
UNITED STATES-2.5 % Parts Department 3 % Service Department-0.5 % Major Units-0.3 % Overall
MIDWEST-0.7 % Parts Department 2.6 % Service Department-2.1 % Major Units-1.5 % Overall
SOUTH-2.2 % Parts Department 5.6 % Service Department 0.1 % Major Units 0.5 % Overall
NORTHEAST-0.2 % Parts Department 7.2 % Service Department 2.2 % Major Units 2.4 % Overall
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APRIL 2025 VS. APRIL 2024
Dealers were down in April by an average of 0.3 % in combined revenue when compared to the same period last year, according to composite data from over 1,900 U. S. dealers using Lightspeed DMS. In parts sales, every region reported a drop in revenue, averaging a-2.5 %. The West led this decline,-5.3 %, followed by the Northwest,-4.3 %. The South was-2.2 % while the Northeast and Midwest both dropped less than 1 %. Service was up a combined 3 % across the nation, with the Northeast leading
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the way with a 7.2 % increase, followed by the South with a gain of 5.6 %. The Midwest, 2.6 %, and the Northwest, 0.9 %, were also up, while the West was the only region in the red, with-3.1 %. National unit sales were down a combined 0.5 %. The largest decrease was in the West with 2.4 %, and in the Midwest with 2.1 %. The Northeast gained the most with a 2.2 % increase, while the Northwest and the South both stayed nearly fl at. Combined revenue stayed relatively fl at, with the largest increase coming from the Northeast, 2.4 %, and the most signifi cant decrease in the West, 2.8 %. |
PARTS SALES Parts revenue was up at 951 dealerships and down at 991.
SERVICE SALES Service revenue was up at 1,031 dealerships and down at 828.
MAJOR UNIT SALES Major unit sales were up at 828 dealerships and down at 865.
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FOR MORE ON THE SAME STORE SALES DATA
For more information on this report and other industry data, contact: lightspeeddms. com
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