RideNow Group, Inc. reported its financial results for the second quarter of 2026, revealing total revenue of $296.8 million, a slight decrease of 1.0% from $299.9 million in the same quarter of 2025. The decline was attributed to the closure of four stores compared to the previous year, alongside a reduction in revenue from its vehicle transportation services, which ceased operations at the end of 2025. However, the company experienced a 3.6% increase in revenue for the first half of 2026, totaling $557.2 million, compared to $544.6 million in the prior year, driven by higher vehicle unit sales.
The company reported a net income of $6.5 million for the second quarter, a significant turnaround from a net loss of $32.2 million in the same period last year. This improvement was largely due to the absence of a $34 million impairment charge on franchise rights that was recorded in the previous year. For the first half of 2026, net income was $2.2 million, compared to a loss of $41.9 million in the first half of 2025. The gross profit for the second quarter increased to $84.8 million, up from $83.9 million year-over-year, while the gross profit for the first half rose to $156.4 million from $151.1 million.
Operationally, RideNow Group operated 47 retail locations as of June 30, 2026, primarily in the Sunbelt region. The company sold 15,731 vehicles in the second quarter, a slight decrease from 17,117 in the same quarter of 2025. However, the total vehicle sales for the first half of 2026 increased to 31,330 units, up from 30,303 units in the prior year. The company’s inventory also saw a significant increase, rising to $308.3 million from $257.4 million at the end of 2025, reflecting a strategic decision to bolster inventory levels in anticipation of increased consumer demand.
Looking ahead, RideNow Group is focused on enhancing its operational efficiency and addressing material weaknesses in its internal controls over financial reporting. The company has initiated a remediation plan that includes improving governance and reporting, centralizing processes, and hiring skilled accounting personnel. Additionally, the company is in the process of refinancing its debt, with milestones set for completion by November 30, 2026. The management remains optimistic about navigating the current macroeconomic challenges, including inflation and interest rate fluctuations, while continuing to monitor consumer demand and market conditions.
About RideNow Group, Inc.
RumbleOn, Inc. operates as a powersports dealership group and vehicle transportation service provider. It offers new and pre-owned motorcycles, ATVs, SXS, personal watercraft, and related products, along with parts, accessories, and repair services across the U.S. The company leverages proprietary technology for inventory acquisition, focuses on organic growth and acquisitions, and competes in a fragmented industry with emphasis on customer experience and broad product selection.
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