NASDAQ$RDNW
RideNow Group Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced results for the quarter and full year ended December 31, 2023, and presented Vision 2026 strategic plan.
RumbleOn reported a decrease in revenue for both the fourth quarter and the full year 2023, alongside a decrease in gross profit and adjusted EBITDA. Despite these declines, the company successfully completed a $100 million rights offering and paid down $50 million of debt in the quarter, positioning them favorably for 2024.
- Total revenue was $311.1 million for the fourth quarter, a 6.2% decrease year-over-year.
- Total Powersport Vehicle Retail Sales decreased by 5.8% compared to the prior year fourth quarter, totaling 15,596 units.
- Gross profit for the fourth quarter was $71.2 million, down $21.2 million from the prior year, including a $12.6 million pre-owned inventory adjustment.
- Adjusted EBITDA was $3.1 million for the fourth quarter, compared to $19.7 million in the fourth quarter of 2022.
Headline financials
Revenue & EPS history
RumbleON · Revenue · Quarterly
$311M
Revenue by segment
RumbleON · $260M total across 1 segment · Q1 2026
- Powersports Dealership Group$260M—100.0%
Forward guidance
RumbleOn introduced its 3-year operating plan called Vision 2026, expecting to achieve annual revenue in excess of $1.7 billion, annual Adjusted EBITDA of greater than $150 million, and annual Adjusted Free Cash Flow of $90 million or more by calendar year 2026.
Tailwinds
- Annual revenue in excess of $1.7 billion by 2026.
- Annual Adjusted EBITDA of greater than $150 million by 2026.
- Annual Adjusted Free Cash Flow of $90 million or more by 2026.
- Maintaining a healthy balance sheet within the target ratio of 1.5x to 2.5x net debt/Adjusted EBITDA.
- Successfully completing a $100 million rights offering during the quarter.
Headwinds
- The company has decided to stop the practice of giving annual guidance.
- Prior Adjusted EBITDA guidance of $80 million to $90 million for 2024 is within sight, but the company is withdrawing prior guidance for 2024.
- Total revenue declined 6.2% in Q4 2023 compared to Q4 2022.
- Gross profit decreased by $21.2 million compared to the prior year.
- Adjusted EBITDA decreased from $19.7 million to $3.1 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
+2.1%
Avg return
Earnings day
+2.9%
Avg return
5 days after
+3.9%
Avg return
30 days after
39%
15 / 38 earnings
Positive
+61.0%
Q2 2025
Best reaction
-38.1%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | -3.7% | -0.9% | |
| Q4 2025 | -7.3% | -9.7% | +0.4% | |
| Q3 2025 | +0.6% | +34.1% | +62.8% | |
| Q2 2025 | +61.0% | +48.0% | +111.0% | |
| Q1 2025 | -7.7% | -3.0% | -32.2% | |
| Q4 2024 | -5.5% | -6.8% | -34.2% | |
| Q3 2024 | -9.2% | -3.3% | +10.7% | |
| Q2 2024 | -2.5% | -5.0% | +2.5% | |
| Q1 2024 | +26.2% | +24.5% | +13.1% | |
| Q4 2023 | -25.6% | -16.9% | -20.4% | |
| Q3 2023 | -2.8% | -11.2% | -15.6% | |
| Q2 2023 | -20.8% | -30.3% | -39.0% | |
| Q1 2023 | +21.3% | +24.3% | +60.8% | |
| Q4 2022 | -0.3% | +1.1% | +8.1% | |
| Q3 2022 | -38.1% | -43.9% | -53.3% | |
| Q2 2022 | +21.9% | +29.8% | +10.5% | |
| Q1 2022 | -3.1% | +14.6% | +16.5% | |
| Q4 2021 | +23.6% | +28.5% | -19.5% | |
| Q3 2021 | -11.1% | -14.4% | -22.7% | |
| Q2 2021 | -6.4% | -11.0% | -10.0% | |
| Q1 2021 | +10.4% | +7.3% | +2.3% | |
| Q4 2020 | +35.4% | +43.8% | -2.1% | |
| Q3 2020 | -1.2% | -11.6% | -21.2% | |
| Q2 2020 | +38.1% | +55.9% | +49.2% | |
| Q1 2020 | -4.1% | -10.5% | +106.0% | |
| Q4 2019 | +15.5% | +10.1% | +34.4% | |
| Q3 2019 | -34.2% | -25.5% | -64.7% | |
| Q2 2019 | -3.6% | -14.8% | -31.2% | |
| Q1 2019 | +0.0% | -4.1% | -9.1% | |
| Q4 2018 | -6.4% | -12.3% | -8.6% | |
| Q3 2018 | +3.2% | +7.9% | -5.7% | |
| Q2 2018 | -1.3% | -3.4% | +9.1% | |
| Q1 2018 | -6.2% | -3.5% | -10.0% | |
| Q4 2017 | +5.2% | +7.9% | +2.7% | |
| Q4 2016 | +5.2% | +7.9% | +2.7% | |
| Q3 2017 | -4.7% | -4.7% | +2.8% | |
| Q2 2017 | +0.0% | +0.0% | +14.3% | |
| Q1 2017 | +15.0% | +15.0% | +30.0% | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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