RumbleON, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:30 pm IST
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RumbleON, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 382.73 million compared to USD 412.18 million a year ago. Net loss was USD 13.59 million compared to net income of USD 14.03 million a year ago. Basic loss per share from continuing operations was USD 0.78 compared to basic earnings per share from continuing operations of USD 0.85 a year ago. Diluted loss per share from continuing operations was USD 0.78 compared to diluted earnings per share from continuing operations of USD 0.85 a year ago.
For the six months, revenue was USD 717.12 million compared to USD 746.69 million a year ago. Net loss was USD 30.49 million compared to net income of USD 23.17 million a year ago. Basic loss per share from continuing operations was USD 1.81 compared to basic earnings per share from continuing operations of USD 1.47 a year ago. Diluted loss per share from continuing operations was USD 1.81 compared to diluted earnings per share from continuing operations of USD 1.47 a year ago.
RumbleOn, Inc. is engaged in the business of powersports and vehicle transportation services. The Company's powersports business offers a wide selection of new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products. It also offers parts, apparel, accessories, finance and insurance products and services, and aftermarket products from a wide range of manufacturers. Additionally, it offers a full suite of repair and maintenance services. It offers over 500 powersports franchises representing 52 different brands of products. Its vehicle transportation services business includes Wholesale Express, LLC, its subsidiary, which provides asset-light transportation brokerage services facilitating automobile transportation primarily between and among dealers. It provides services focused on pre-owned vehicles to clients in all 50 states through its established network of pre-qualified carriers.
RUMBLEON, INC. 
