RumbleOn Meets Expectations

By Staff Writer May 11, 2023

RumbleOn Inc., the nation’s first technology-based powersports platform, announced operational and financial results for the three months ended March 31. The report showed total unit sales of 17,336, primarily comprised of 10,436 new units and 6,900 Used Units, resulting in New:Used ratio of 1.5x, similar to prior quarter.

The company reported total revenue is $346.3 million, with total gross profit of $91.0 million. The total company gross profit margin of 26.3% increased 110 bps sequentially.

“In the first quarter, we experienced normal seasonality, delivering revenue and unit sales in line with our expectations,“ said Marshall Chesrown, RumbleOn’s chairman and chief executive officer said. “We achieved this in the face of unprecedented industry-wide new vehicle inventory rebalancing over the course of the Q4 and Q1 of this year, not to mention significant atypical seasonal weather disruptions.”

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Last modified on Friday, 12 May 2023 12:15