Rumbleon, Inc. ( (RMBL) ) has released its Q4 earnings. Here is a breakdown of the information Rumbleon, Inc. presented to its investors.
RumbleOn, Inc. is a prominent player in the powersports retail and vehicle transportation services industry, providing a wide range of new and pre-owned powersports vehicles, parts, and services across the United States. The company also operates an asset-light transportation service focused on the automotive sector.
In its latest earnings report, RumbleOn revealed a decline in revenue for both the fourth quarter and full year 2024 compared to the previous year. Despite these challenges, the company managed to reduce its net loss significantly and improve its operating cash flow, indicating a focus on operational efficiency and cost management.
Key financial highlights include a 13.4% decrease in fourth-quarter revenue to $269.6 million and an 11.5% drop in full-year revenue to $1,209.2 million. However, the net loss for the year narrowed to $78.6 million from $215.5 million in 2023. The company also reported a positive adjusted EBITDA of $32.9 million for the year. Strategic actions included repaying convertible senior notes, reducing inventories, and entering new financial arrangements to support pre-owned inventory.
Looking ahead, RumbleOn’s management remains optimistic about strengthening profitability in 2025. They emphasize the importance of maintaining the right inventory mix and executing a well-developed plan to achieve sustained, improved results in the coming year.