RumbleOn, Inc. reported a significant decline in financial performance for the first quarter of 2025, with total revenue of $244.7 million, down 20.5% from $307.8 million in the same period of 2024. The decrease was primarily driven by a reduction in sales across its powersports vehicle segment, which generated $172.0 million in revenue, a 19.9% drop from $214.8 million year-over-year. The company also experienced a net loss of $9.7 million, slightly improved from a loss of $10.3 million in the prior year, resulting in a net loss per share of $0.26 compared to $0.29.
The company's financial metrics reflected a broader trend of reduced sales volume, particularly in the powersports segment, where the number of vehicles sold fell from 16,585 to 13,186. This decline was partially offset by an increase in average revenue per vehicle sold, which rose by $560 to $19,107. Additionally, gross profit decreased to $67.2 million from $82.6 million, with gross profit margins impacted by lower sales volumes despite improved profitability per vehicle.
Operationally, RumbleOn has made strategic adjustments, including the closure of its Sturgis, South Dakota dealership, leaving it with 55 locations primarily in the Sunbelt region. The company continues to focus on enhancing its proprietary RideNow Cash Offer technology to source pre-owned inventory directly from consumers. However, the vehicle transportation services segment saw a dramatic decline in revenue, dropping 61.5% to $5.5 million, attributed to the departure of key employees, including brokers, early in 2025.
In terms of financial health, RumbleOn's total assets decreased to $738.9 million from $755.2 million, while total liabilities also fell to $712.0 million from $718.5 million. The company reported a cash balance of $41.1 million, down from $85.3 million at the end of 2024. Looking ahead, RumbleOn anticipates that current cash balances, along with cash generated from operations, will be sufficient to meet its operating and capital requirements for at least the next twelve months. However, the company acknowledges the potential need for additional financing depending on future operational performance and market conditions.
About RumbleOn, Inc.
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