RumbleON Secures $10M Loan, Rebrands as RideNow Group Inc.

RumbleON secured a $10M loan, amended its credit agreement, and rebranded as RideNow Group. The company reported a decrease in revenue and net loss for Q2 2025, but noted improvements in adjusted EBITDA and reduced SG&A expenses. Analysts rate RMBL stock a Buy with a $5.50 price target, but the company's financial challenges and leverage issues weigh heavily on its valuation.

Irving, Texas - RumbleOn Inc. (NASDAQ: RMBL), now known as RideNow Group, Inc., has announced its second-quarter 2025 financial results, which saw a decrease in revenue and net loss, but also improvements in adjusted EBITDA and reduced SG&A expenses. The company secured a $10M loan and amended its credit agreement, rebranding as RideNow Group, Inc. [1].

The company reported a net loss of $32.2 million for the second quarter, compared to a $0.7 million loss in the same period last year. Revenue decreased by 11% to $299.9 million, driven by a 590-unit decrease in powersports segment sales and a $13.9 million drop in vehicle transportation services revenue. Despite the revenue decline, adjusted EBITDA increased by 6.2% to $17.2 million, and SG&A expenses were reduced by $4.7 million to $66.7 million [2].

RumbleOn also reported a $34 million impairment charge related to franchise rights, contributing to the net loss. The company's rebranding initiative includes changing its name to RideNow Group, Inc., relocating its corporate headquarters back to the Phoenix area, and altering its ticker symbol to RDNW on the Nasdaq Capital Market, effective August 13, 2025 [1].

Analysts rate RMBL stock a Buy with a $5.50 price target, but the company's financial challenges and leverage issues weigh heavily on its valuation. The company's adjusted EBITDA and reduced SG&A expenses indicate progress, but the overall financial performance remains a concern. The company's management expressed confidence in its "back to our roots" strategy, which aims to drive improvement in year-over-year results [2].

References:
[1] https://au.investing.com/news/earnings/rumbleon-surge13-despite-q2-earnings-miss-rebranding-to-ridenow-93CH-3971829
[2] https://www.prnewswire.com/news-releases/rumbleon-inc-reports-second-quarter-2025-financial-results-302526776.html