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RUMBLEON REPORTS Q2 SURGE

  • Dealernews
  • Aug 31, 2022

 

The “omnichannel” reported record total company revenue of $546.1 million in Q2 according to RumbleOn CEO Marshall Chesrown. "In a quarter marked by macroeconomic uncertainty, RumbleOn executed,” claims Chesrown. “We saw strong demand for our offering in Q2 and delivered another quarter of profitable growth while driving gross margin expansion and robust cash generation. We are building the future of powersports by delivering an unparalleled customer experience, both online and in the showroom, through our unique omnichannel offering… and we continue to capture market share."

Powersports unit growth of 23.6% driven primarily by the acquisition of Freedom Powersports. Some 20,713 new units were retailed during the quarter. Used Retail Powersports Units also increased 41.3% to 8,619 units. Gross profit was up 31% to $138 million. "In a quarter marked by macroeconomic uncertainty, RumbleOn executed,” explains Chesrown. 

"We are keeping our eyes firmly focused on our North Star: providing customers an unparalleled choice of products and services, and an unmatched buying experience both online and in our retail locations, while we strengthen our foundation to support future growth," he concluded.

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