RumbleOn, the U.S. online marketplace and powersports retailer, reported revenues dropped 20.5 percent to $244.7 million in the first quarter ended March 31, driven by sharp declines in powersports and vehicle transportation services segments.

The period’s net loss decreased slightly to $9.7 million compared to $10.3 million a year ago.

Selling, general & administrative expense (SG&A) was $61.1 million, a $12.8 million reduction compared to $73.9 million. Adjusted EBITDA declined 9.1 percent to $7.0 million compared to $7.7 million.

In the Powersports segment, sales were down 18.5  percent to $239.2 million. Total powersports unit sales reached 13.2 million, representing a decline of 20.5 percent from 16.6 million the prior year. New powersports unit sales were down 23.7 percent to 8,013, while used sales fell 13.9 percent to 4,307. Powersports segment gross profit fell 16.4 percent to $66.1 million from $79.1 million.

Vehicle Transportation Services segment revenue plunged 61.5 percent to $5.5 million from $14.3 million. Gross profit in the segment fell to $5.5 million from $14.3 million in the year-ago quarter.

“I am proud of the results the team delivered amidst a challenging backdrop for consumers. Although we experienced a year-over-year volume decline in our powersports segment, the team is making progress on our turnaround initiatives, and we are looking forward to building on this momentum,” stated Michael Quartieri, RumbleOn’s chairman, chief executive officer and interim chief financial officer.

Balance Sheet, Liquidity and Cash Flow
The company ended the quarter with $56.2 million in total cash, inclusive of restricted cash, and $188.2 million of non-vehicle net debt. Availability under the company’s powersports short-term revolving floor plan lines of credit totaled approximately $115.2 million as of March 31. Total available liquidity, defined as total cash plus availability under floorplan credit facilities, was $171.4 million as of March 31. Cash outflows from operating activities were $6.9 million for the first quarter of 2025, compared to cash inflows of $17.0 million for the same period in 2024. Cash flow from operations in 2024 benefited from the proceeds from selling the company’s loans receivable portfolio.

RumbleOn, Inc., headquartered in Irving, TX, operates through two segments: Powersports dealership group and Wholesale Express, LLC. The company reports it is also the largest purchaser of pre-owned powersports vehicles in the U.S.

Image courtesy RumbleOn