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EX-99.1 - LETTER TO STOCKHOLDERS, DATED JULY 26, 2018 - RumbleOn, Inc. | rmbl_ex991.htm |
8-K - CURRENT REPORT - RumbleOn, Inc. | rmbl_8k.htm |
Exhibit 99.2
RumbleOn, Inc. Reports Second Quarter 2018 Financial
Results
Record 129% Vehicle Unit Sales Growth
Quarter-over-Quarter
CHARLOTTE, N.C., July 26, 2018 -- RumbleOn, Inc.
(Nasdaq:RMBL), an e-commerce platform that enables consumers and
dealers to buy, sell, trade and finance pre-owned powersport
vehicles in one online location, announced financial results for
its second quarter ended June 30, 2018. RumbleOn has issued a
shareholder letter with a discussion of its second quarter 2018
financial results, which may be accessed on the
Investor Relations section of the
Company’s website.
“In
the second quarter, we exceeded our prior unit sales guidance and
continued to execute on our plan to achieve rapid unit and revenue
growth. A surge in demand for cash offers, combined with a
reduction in average days to sale and improvements
across freight and reconditioning costs, drove record volume,
revenue and gross profit in the quarter. We are on track to
achieve unit sales in excess of 12,000 for the full year which
would result in a revenue run rate of more than $150 million by the
end of 2018, and our plan is to double that unit run rate by the
end of 2019,” said Marshall Chesrown, RumbleOn’s
Chief Executive Officer. “We operate in an industry with a
fragmented competitive landscape. We are well-positioned to capture
the huge market opportunity to drive long-term growth and deliver
value to our shareholders.”
Conference Call Details
RumbleOn’s management will host a conference call today, July
26, 2018, at 5 p.m. Eastern Time (2 p.m. Pacific Time) to discuss
the results. A live webcast of the call can be accessed from the
Events & Presentations section of RumbleOn’s Investor
Relations website, or by following
this link. A replay of the call will
be available on the same website. Investors and analysts can
participate on the conference call by dialing (877) 273-6127 or
(647) 689-5394 and using conference ID #3378778. An audio replay of
the call will be available via telephone for seven days, beginning
two hours after the call. To listen to the replay please dial (800)
585-8367, or (416) 621-4642 for callers outside North America
(access code 3378778).
###
About RumbleOn
RumbleOn, Inc. (RMBL) operates a capital light disruptive
e-commerce platform facilitating the ability of both consumers and
dealers to buy, sell, trade and finance pre-owned powersport
vehicles in one online location. RumbleOn's goal is to transform
the way pre-owned vehicles are bought and sold by providing users
with the most efficient, timely and transparent transaction
experience. RumbleOn's initial focus is the market for VIN-specific
pre-owned vehicles with an emphasis on motorcycles and other
powersports. Serving both consumers and dealers, through its 100%
online marketplace platform, RumbleOn makes cash offers for the
purchase of pre-owned vehicles. In addition, RumbleOn offers a
large inventory of pre-owned vehicles for sale along with
third-party financing and associated products. For additional
information, please visit RumbleOn's website at www.RumbleOn.com.
Also visit the Company on Facebook, LinkedIn, Twitter, Instagram,
YouTube and Pinterest.
Cautionary Note on Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the safe harbor provisions
of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect RumbleOn’s current
expectations, projections and guidance with respect to its
financial condition, results of operations, plans, and objectives.
The inclusion of projections and guidance in this press release
should not be regarded as an indication that RumbleOn considered,
or now considers, them to be a reliable prediction of future
results. RumbleOn cautions that these statements, projections and
guidance are qualified by important factors that could cause actual
results to differ materially from those reflected by the
forward-looking statements contained in this press release. Such
factors include the “Risk Factors” set forth in
RumbleOn’s most recent Annual Report on Form 10-K and other
filings with the Securities and Exchange Commission. All
forward-looking statements are based on information available to
RumbleOn on the date of this press release and RumbleOn assumes no
obligation to update such statements, except as required by
law.
Investor Relations:
Whitney Kukulka
The Blueshirt Group
whitney@blueshirtgroup.com
(415) 489-2187