RideNow Group, Inc., formerly known as RumbleOn, Inc., reported a significant decline in financial performance for the fiscal year ending December 31, 2025, as detailed in its recent 10-K filing. The company generated total revenue of $1.08 billion, a decrease of 10.5% from $1.21 billion in 2024. This decline was primarily attributed to a reduction in the volume of powersports vehicles sold, which fell by 3,094 units, and the cessation of its vehicle transportation services segment, which contributed $58 million in revenue in the previous year. Powersports vehicle sales alone dropped to $778.8 million from $842.6 million, reflecting a 7.6% decrease.
In terms of profitability, the company's gross profit also decreased, falling to $298 million from $314.3 million in 2024, a decline of 5.2%. The gross profit from powersports vehicles increased slightly by 2.5% to $106.6 million, indicating improved margins per vehicle sold despite lower overall sales volume. The company reported a gross profit per retail unit sold of $5,208, up 5.1% from the previous year, suggesting that while sales volume was down, the profitability per unit improved.
Strategically, RideNow Group has undergone significant changes, including the discontinuation of its vehicle transportation services in December 2025, which was a response to declining shipping volumes and employee turnover. The company has focused on consolidating operations, closing underperforming stores, and enhancing its powersports dealership segment, which now operates 48 locations across various states. The company has also implemented cost-saving measures, including a reduction in selling, general, and administrative expenses by 6.9% to $256.3 million.
Operationally, the company reported a total of 61,894 vehicles sold in 2025, down from 64,988 in 2024. The decline in vehicle sales was accompanied by a decrease in customer engagement metrics, as the company faced challenges in inventory acquisition and market competition. As of December 31, 2025, RideNow Group employed 1,884 full-time and 22 part-time employees, reflecting a stable workforce despite the operational changes.
Looking ahead, RideNow Group aims to improve its financial performance through organic growth initiatives and strategic acquisitions. The company plans to enhance its inventory sourcing capabilities, particularly through its proprietary RideNow Cash Offer tool, which allows for direct consumer purchases of pre-owned vehicles. However, the company acknowledges potential risks, including market conditions and the need for effective inventory management, which could impact future results. The management remains focused on stabilizing operations and improving profitability as it navigates the challenges of the powersports retail market.
About RumbleOn, 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.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.