About RumbleON

RumbleOn, Inc. operates as a technology-based platform in the powersports industry. The company is transforming the powersports customer experience by giving consumers what they want - a wide selection, great value and quality, transparency, and an easy, friction-free transaction. Every element of the company’s business, from inventory procurement to fulfillment to overall ease of transactions, whether online or on-site at one of the company’s retail locations, has been built for a singular purpose – to create a customer experience without peer in the powersports industry. Although the company’s primary focus is on the customer experience and building market share in the powersports industry, during 2022 the company participated in the wholesale automotive industry through the company’s wholly-owned distributors of used automotive inventory, Wholesale, Inc. (‘Wholesale Inc’) and the company’s exotics retailer AutoSport USA, Inc., which does business under the name Got Speed. In the third quarter of 2022, the company would be winding down its wholesale automotive business, which the company expects to complete during the first half of 2023. The company’s logistics services company, Wholesale Express, LLC (‘Wholesale Express’), provides freight brokerage services facilitating transportation for dealers and consumers. In February 2022, the company acquired Freedom Powersports. In November 2022, the company acquired Powersports Honda franchise in North Texas. In December 2022, the company acquired two full line Polaris franchises in North Texas. In January 2023, the company opened its Fulfillment Center in Las Vegas, Nevada. In February 2023, the company acquired Red Hills powersports, a single retail location representing 10 brands, in Tallahassee, Florida. The company operates primarily in the powersports industry, offering significant scale and breadth of products and the company’s platform from which the company will provide its only of its kind powersports customer experience. From the company’s view, powersports includes motorcycles, side-by-sides, ATV, UTV, snowmobile, and personal watercraft (‘PWC’) along with related parts and components. The company provides customers the opportunity to experience RumbleOn's offerings online, in-store, and through the company’s mobile app, or any combination of those three options. RumbleOn is creating a best-in-class experience in powersports for the company’s customers. Customers come to RumbleOn's retail locations, as well as the company’s more than 60 websites to shop for new and highest-quality used powersports products, as well as for parts, accessories and merchandise. The company addresses the entire powersports market. Segments The company operates through three segments: Powersports, Automotive, and Vehicle Logistics. The company’s Powersports and Automotive segments consist of the sale of new and used vehicles. The Powersports segment consists of the distribution principally of motorcycles and other powersports vehicles, while the Automotive segment distributes cars and trucks. The company’s Vehicle Logistics segment provides nationwide transportation brokerage services between dealerships and auctions. Powersports and Automotive Segments Revenue of is consisted of vehicle sales, finance and insurance products bundled with retail vehicle sales (‘F&I’), and parts, service and accessories/merchandise (‘PSA’). The company sells both new and pre-owned vehicles through retail and wholesale channels. F&I and PSA revenue is almost exclusively earned through retail channels. Automotive sales are almost exclusively via wholesale channels, and therefore, contribute to a very small portion of F&I revenue. Vehicle Logistics Segment Revenue is derived from freight brokerage agreements with dealers, distributors, or private party individuals to transport vehicles from a point of origin to a designated destination. The freight brokerage agreements are fulfilled by independent third-party transporters who must meet the company’s performance obligations and standards. Wholesale Express is considered the principal in the delivery transactions since it is primarily responsible for fulfilling the service. In the normal course of operations, Wholesale Express also provides transportation services to Wholesale Inc. Growth Strategies The company’s strategies are to optimize its inventory selection and centralization; continue to innovate and extend its technology leadership; enhance its in-store experience, such as identifying desired locations and implementing appropriate brand mix; and develop broad consumer awareness of its brand. Intellectual Property The company has a portfolio of trademark registrations in the United States, including registrations for ‘RumbleOn,’ the RumbleOn logo, ‘RideNow,’ and the RideNow logo. The company is the registered holder of a variety of domestic and international domain names, including ‘rumbleon.com’. Government Regulation The company’s Wholesale Express logistics operations, which brokers and facilitates the transportation of vehicles primarily between and among dealers, is subject to motor-carrier rules and regulations promulgated by the United States Department of Transportation (‘DOT’) and the states through which their customers' vehicles are transported. In addition to these laws and regulations that apply specifically to the company’s business, the company is subject to laws and regulations affecting public companies, including securities laws and the listing rules of The Nasdaq Stock Market (‘Nasdaq’). History The company was incorporated under the laws of the state of Nevada in 2013. It was formerly known as Smart Server, Inc. and changed its name to RumbleON, Inc. in 2017.