RideNow Group, Inc., the powersports dealership group that partners with most major powersports brands, reported that the Powersports segment revenue totaled $256.1 million in the 2025 fourth quarter, essentially flat to the prior-year Q4 period. On a same-store sales basis, Powersports revenue was up 6.3 percent year-over-year (y/y), driven by a 7.7 percent increase in unit sales.
In unit-volume terms, the dealer saw New Powersports units sold decline 2.9 percent y/y to 9,924 units, while Pre-Owned Powersports units sold increased 5.1 percent y/y to 4,125 units for the quarter.
Consolidated total revenue amounted to $256.9 million in Q4, compared to $269.6 million in the prior-year Q4 period.
The company ceased operations of the Vehicle Transportation Services (VTS) business segment effective December 31, 2025. The VTS segment generated less than $1 million in revenue in Q4, a 94 percent decline from the prior-year period.
Powersports segment gross profit amounted to $70.7 million in Q4, up 10.1 percent y/y. Selling, general & administrative (SG&A) expense was $64.1 million in the period, or 90.4 percent of total company gross profit, compared to $64.2 million, or 95.1 percent of total company gross profit in the prior-year Q4 period.
Consolidated net loss was $6.4 million in Q4, including a non-cash intangible asset impairment charge of $0.8 million related to the exit of the Vehicle Transportation services business, compared to a net loss of $56.4 million in Q4 2024, which included a non-cash intangible asset impairment charge of $39.3 million.
Consolidated Adjusted EBITDA increased to $9.7 million in Q4 2025 from $2.2 million in Q4 2024.
Commenting on the quarter, RideNow Group Chairman, CEO and President Michael Quartieri said, “I am proud of our team and the substantial progress we have made on our ‘back to our roots’ strategy, with momentum building through the fourth quarter. These performance gains are a clear indication that we are on the right trajectory to deliver sustained growth and value creation for our shareholders.”
Full-Year Summary
Balance Sheet, Liquidity and Cash Flow Summary
The company generated $15.9 million in operating cash flow during 2025, ending the year with $29.5 million in unrestricted cash and $123.1 million of availability under its powersports floor plan lines of credit.
During the year, the company increased its inventory by $16.8 million and amounts payable under floor plans by $8.5 million.
RideNow Group repaid $61.1 million in principal amounts of debt during 2025.
Image courtesy RideNow Group, Inc.
