RumbleOn Shares Details of Company's Vision 2026 Strategic Plan

IRVING, Texas--()--RumbleOn (NASDAQ: RMBL), today unveiled its new three-year operating plan, Vision 2026, aimed to deliver annual revenue exceeding $1.7 billion, annual adjusted EBITDA of greater than $150 million and annual adjusted free cash flow of $90 million or more by calendar year 2026.

The three strategic pillars of Vision 2026 are:

  • Operate the best performing dealerships in America.
  • Leverage the RideNow Cash Offer Tool to accelerate growth of the pre-owned vehicle business.
  • Allocate capital to maximize long-term per share value.

"The first pillar is simple in its measurement, but broad in its execution," said Mike Kennedy, RumbleOn’s Chief Executive Officer. "Our plan to operate the best performing dealerships in America will be measured on Net Profit and Customer Satisfaction. There's a lot that goes into delivering on these metrics, from simplifying and focusing our organization, attracting, retaining and properly incentivizing team members, and strengthening relationships with our OEM's. I'm excited about the progress we've already made. I've met with our largest OEM partners and they share my enthusiasm about the direction in which we're moving."

"The RideNow Cash Offer Tool directly connects us with riders and allows us to acquire high quality, pre-owned powersports vehicles at scale. It can work even harder for us and for all our dealership locations,” continued Kennedy. “Integrating more deeply with the tool, both online and in-store, will help us grow our pre-owned retail business, and align our RideNow Powersports dealerships around this opportunity. That's why the second pillar of Vision 2026 is to grow our pre-owned business by leveraging this unique and impactful resource. That’s why, in 2024, we plan to pilot our first standalone brick & mortar pre-owned dealership."

"The third pillar of Vision 2026 is to make certain we strategically allocate capital to its highest and best use to maximize long-term per share value,” continued Kennedy. “We have lots of options when it comes to capital allocation. Our current priorities for capital are investing in our business and acquiring additional dealerships. As we think about capital allocation, we will never take our eye off of our first principle at every stage of the journey; creating long-term per-share value for our shareholders."

"This three-year operating plan reflects input from our board, our team and my observations over the past few months," explained Kennedy. "The plan's three strategic pillars will ultimately create a better experience for riders and a better environment for our team members while always focusing on maximizing long-term per share value. That's a 'triple win.' Now it's time to get to work and make it happen."

RumbleOn CEO Mike Kennedy, who took the reins of the company in November 2023, used his first year-end earnings announcement to roll out the Vision 2026 plan in detail to analysts and employees today.

About RumbleOn

RumbleOn, Inc. (NASDAQ: RMBL), operates through two operating segments: the RideNow Powersports dealership group and Wholesale Express, LLC, an asset-light transportation services provider focused on the automotive industry. RideNow Powersports is the largest powersports retail group in the United States (as measured by reported revenue, major unit sales and dealership locations), offering over 500 powersports franchises representing 52 different brands of products. RideNow Powersports sells a wide selection of new and pre-owned products, including parts, apparel, accessories, finance & insurance products and services, and aftermarket products. We are the largest purchaser of pre-owned powersports vehicles in the United States and utilize our proprietary Cash Offer technology to acquire vehicles directly from consumers. To learn more, please visit us online at

Cautionary Note on Forward-Looking Statements

This press release may contain “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995, which statements may be identified by words such as “expects,” “plans”, “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed under the heading "Forward-Looking Statements” and “Risk Factors” in the Company’s SEC filings, as may be updated and amended from time to time. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Use of Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted Free Cash Flow are non-GAAP financial measures and should not be considered as alternatives to operating income or net income as a measure of operating performance or cash flows or as a measure of liquidity. Non-GAAP financial measures are not necessarily calculated the same way by different companies and should not be considered a substitute for or superior to U.S. GAAP.

We define Adjusted EBITDA as net income (loss) adjusted to add back interest expense, depreciation and amortization, the impact of income taxes, discontinued operations, non-cash stock-based compensation costs, the non-cash impairment of goodwill and franchise rights, transaction costs, certain litigation expenses not associated with our ongoing operations, and other non-recurring costs and credits, such as the gain on the sale of a dealership, insurance proceeds and costs attributable to an abandoned project, as such we do not consider such recoveries, charges and expenses to be a part of our core business operations, and they not necessarily an indicator of ongoing, future company performance.

We define Adjusted Free Cash Flow as cash flows from operating activities of continuing operations less capital expenditures (excluding acquisitions).

With respect to our 2026 Adjusted EBITDA and Adjusted Free Cash Flow targets, a reconciliation of these non-GAAP measures to the corresponding GAAP measures is not available without unreasonable effort due to the complexity of the reconciling items that we exclude from the non-GAAP measure or the variables going into the calculation of operating cash flows.


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