- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
RumbleOn Announces Financial Results for the First Quarter 2018
RumbleOn Inc (NASDAQ:RMBL), a disruptive e-commerce platform announced the financial results for the three month period ended on March 31, 2018. The company has an emphasis on motorcycles and other powersports and enables both consumers and dealers to buy, sell, trade and finance pre-owned vehicles in one online location. As quoted in the press release: …
RumbleOn Inc (NASDAQ:RMBL), a disruptive e-commerce platform announced the financial results for the three month period ended on March 31, 2018.
The company has an emphasis on motorcycles and other powersports and enables both consumers and dealers to buy, sell, trade and finance pre-owned vehicles in one online location.
As quoted in the press release:
Marshall Chesrown, RumbleOn’s Chief Executive Officer, stated, “We are pleased with the continued momentum in our business during the first quarter. We remained focused on rapidly growing the business and improving unit economics, all while delivering a great consumer experience. Looking forward, we are excited about the opportunities for RumbleOn, as we continue to scale and invest in the business. Ultimately, we are leveraging our unique model to differentiate the business and set us apart as the clear leader in a fragmented market, driving significant growth and long-term shareholder value.”
Financial Summary
Three-month period ended March 31, 2018
- Revenue totaled $8.1 million, driven by the sale of 878 vehicles;
- Total average gross profit per vehicle was $788;
- Total operating loss was $3.5 million;
- Net loss was $3.6 million; and
- Net loss per share (basic and diluted) was $0.28, based on 12.9 million shares of common stock outstanding.
Three-month period ended March 31, 2017
- Revenue totaled $0.04 million, representing subscription fees;
- Total operating loss was $0.7 million;
- Net loss was $0.9 million; and
- Net loss per share (basic and diluted) was $0.13, based on 7.3 million shares of common stock outstanding.
The Company had no vehicle sales during the three-month period ended March 31, 2017.
Recent Developments
On February 21, 2018, the Company entered into a floor plan line of credit for $25 million with Ally Bank.
On April 30, 2018, the Company entered into a $15 million Senior Secured Credit Facility with Hercules Capital, Inc.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.