RumbleOn, Inc. (NASDAQ: RMB — the largest powersports retail group in the United States — released its Q4 and full year ended December 31, 2024, financials. According to the filings, “The Company generated $99.4 million in operating cash flow during 2024, ending the year with $85.3 million in unrestricted cash and $146.2 million of availability under its powersports floor plan lines of credit. During the year, the Company reduced inventory $106.9 million and amounts payable under floor plans by $81.4 million.”
“Despite the macroeconomic challenges of 2024, we remained focused on disciplined execution, operational efficiency, and building a strong foundation for long-term value creation,” stated Michael Quartieri, RumbleOn’s Chairman and Chief Executive Officer. “While our powersports segment faced headwinds, we exceeded our goal of reducing new inventory levels and generated positive free cash flow for the year.”
Key Q4 2024 Highlights
• Revenue of $269.6 million decreased 13.4%
• Net loss totaled $56.4 million compared to net loss of $168.5 million, including intangible asset impairment charges of $39.3 million in 2024 and $60.1 million in 2023. Net loss in 2023 also included an increase in the deferred tax valuation allowance that resulted in income tax expense of $59.3 million being recorded on a loss.
* Selling, general & administrative expense (SG&A) was $64.2 million compared to $81.7 million
• Adjusted EBITDA of $2.2 million compared to a loss of $0.3 million
BOTTOM LINE
“I’m incredibly proud of our front-line store operations team for delivering exceptional performance in a tough environment,” claims Quartieri. “There’s more work ahead to strengthen profitability in 2025, but with the right inventory mix and a well-developed plan, we’re confident we can deliver sustained, improved results.”
Key Full Year 2024 Highlights (Compared to Full Year 2023)
• Revenue of $1,209.2 million decreased 11.5%
• Net loss totaled $78.6 million compared to net loss of $215.5 million
• Selling, general & administrative expense (SG&A) was $275.4 million compared to $347.3 million
• Adjusted EBITDA of $32.9 million decreased 12.0%
