RumbleOn Q3 revenue down 12.7% to $295M; net loss improves to $11.2M

RideNow Group, Inc.

2024-Q3 EPS reported -$0.63 revenue$939,600,000

Revenue $295.0M, down 12.7% YoY; net loss $11.2M vs $16.5M loss in prior year.
Adjusted EBITDA $6.8M, down 26.1% YoY; SG&A reduced 22.5% to $65.9M.
Received $30M capital commitments from top shareholders, including $10M backstopped rights offering.
Reduced inventories $53.9M; YTD operating cash flow $68.6M vs -$18.5M in 2023.
Acquired a Harley-Davidson dealership in Massachusetts in August 2024.

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