Attached files
Exhibit 99.1
RumbleOn / RideNow ProForma Historical Metrics
| ProForma | ||||||||||||
| FY2020 | Q1 | Q2 | ||||||||||
| Powersports | ||||||||||||
| Revenue | ||||||||||||
| New vehicle | $ | 515,823,974 | $ | 143,257,024 | $ | 142,731,660 | ||||||
| Used vehicle | ||||||||||||
| Retail used vehicle | 151,655,268 | 38,988,272 | 56,344,912 | |||||||||
| Wholesale | 42,196,119 | 10,854,884 | 27,978,693 | |||||||||
| Total used vehicle revenue | 193,851,387 | 49,843,156 | 84,323,605 | |||||||||
| Finance and insurance, net | 71,845,220 | 19,407,653 | 21,633,640 | |||||||||
| Total variable operations | 781,520,581 | 212,507,833 | 248,688,905 | |||||||||
| Parts and service | 164,895,944 | 43,529,102 | 47,480,825 | |||||||||
| Other | - | - | - | |||||||||
| Total revenue | $ | 946,416,525 | $ | 256,036,935 | $ | 296,169,730 | ||||||
| Gross Profit | ||||||||||||
| New vehicle | $ | 86,478,020 | $ | 27,878,176 | $ | 29,920,171 | ||||||
| Used vehicle | ||||||||||||
| Retail used vehicle | 25,488,661 | 7,242,044 | 10,702,534 | |||||||||
| Wholesale | 5,996,011 | 2,978,493 | 6,957,201 | |||||||||
| Total used vehicle gross profit | 31,484,672 | 10,220,537 | 17,659,735 | |||||||||
| Finance and insurance, net | 71,845,220 | 19,407,653 | 21,633,640 | |||||||||
| Total variable operations (1) | 189,807,912 | 57,506,366 | 69,213,546 | |||||||||
| Parts, service and accessories | 73,878,415 | 20,052,501 | 22,775,127 | |||||||||
| Other | - | - | - | |||||||||
| Total gross profit | $ | 263,686,327 | $ | 77,558,867 | $ | 91,988,673 | ||||||
| Retail vehicle unit sales | ||||||||||||
| New vehicle | 34,370 | 9,028 | 9,215 | |||||||||
| Retail used vehicle | 11,615 | 2,866 | 3,865 | |||||||||
| Wholesale | 4,825 | 1,006 | 2,411 | |||||||||
| Used vehicle | 16,440 | 3,872 | 6,276 | |||||||||
| Total vehicles sold | 50,810 | 12,900 | 15,491 | |||||||||
| Revenue per vehicle retailed | ||||||||||||
| New vehicle | $ | 15,008 | $ | 15,868 | $ | 15,489 | ||||||
| Retail used vehicle | $ | 13,057 | $ | 13,604 | $ | 14,578 | ||||||
| Wholesale | $ | 8,745 | $ | 10,790 | $ | 11,605 | ||||||
| Used vehicle | $ | 11,791 | $ | 12,873 | $ | 13,436 | ||||||
| Gross Profit per vehicle retailed | ||||||||||||
| New vehicle | $ | 2,516 | $ | 3,088 | $ | 3,247 | ||||||
| Used vehicle | $ | 1,915 | $ | 2,640 | $ | 2,814 | ||||||
| Finance and insurance | $ | 1,562 | $ | 1,632 | $ | 1,654 | ||||||
| Total variable operations (2) | $ | 4,128 | $ | 4,835 | $ | 5,292 | ||||||
| Automotive | ||||||||||||
| Revenue | $ | 337,084,959 | $ | 84,070,855 | $ | 127,286,568 | ||||||
| Gross margin | $ | 28,284,328 | $ | 6,211,047 | $ | 10,168,847 | ||||||
| Vehicles sold | 12,741 | 2,494 | 3,300 | |||||||||
| Revenue per vehicle | $ | 26,457 | $ | 33,709 | $ | 38,572 | ||||||
| Gross margin per vehicle | $ | 2,220 | $ | 2,490 | $ | 3,081 | ||||||
| Transportation and Logistics (includes InterCo) | ||||||||||||
| Revenue | $ | 35,887,132 | $ | 10,030,352 | $ | 14,517,592 | ||||||
| Gross margin | $ | 7,615,928 | $ | 1,988,930 | $ | 2,385,197 | ||||||
| Vehicles transported | 61,314 | 18,907 | 23,502 | |||||||||
| Revenue per vehicle transported | $ | 585 | $ | 531 | $ | 618 | ||||||
| Gross margin per vehicle transported | $ | 124 | $ | 105 | $ | 101 | ||||||
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| ProForma | ||||||||||||
| FY2020 | Q1 | Q2 | ||||||||||
| Total Company | ||||||||||||
| Revenue | ||||||||||||
| Powersports | $ | 945,544,066 | $ | 256,036,935 | $ | 296,169,730 | ||||||
| Automotive | 337,084,959 | 84,070,855 | 127,286,568 | |||||||||
| Transportation and logistics | 31,816,157 | 9,338,272 | 13,080,362 | |||||||||
| Other | 872,459 | - | - | |||||||||
| Total revenue | $ | 1,315,317,641 | $ | 349,446,062 | $ | 436,536,660 | ||||||
| Gross margin by segment | ||||||||||||
| Powersports | $ | 262,813,868 | $ | 77,558,867 | $ | 91,988,673 | ||||||
| Automotive | 28,284,328 | 6,211,047 | 10,168,847 | |||||||||
| Transportation and logistics | 7,615,928 | 1,988,930 | 2,385,197 | |||||||||
| Other (3) | (10,865,954 | ) | - | - | ||||||||
| Total Gross Margin | $ | 287,848,170 | $ | 85,758,844 | $ | 104,542,717 | ||||||
| Compensation and benefits | ||||||||||||
| Cash compensation and benefits | $ | 126,911,758 | $ | 33,875,889 | $ | 40,846,553 | ||||||
| Share-based compensation and benefits (4) | 2,978,236 | 1,026,216 | 701,275 | |||||||||
| Total compensation and benefits | 129,889,994 | 34,902,105 | 41,547,828 | |||||||||
| Advertising, marketing & selling fees | 17,817,609 | 5,017,850 | 5,871,842 | |||||||||
| Professional fees | 5,099,019 | 2,114,824 | 1,752,043 | |||||||||
| Technology development and software | 1,421,138 | 403,475 | 424,063 | |||||||||
| General and administrative | 28,621,095 | 6,745,580 | 9,584,465 | |||||||||
| RideNow facilities | 25,330,533 | 7,328,847 | 7,503,709 | |||||||||
| Total selling general and administrative | $ | 208,179,388 | $ | 56,512,681 | $ | 66,683,950 | ||||||
| Other | ||||||||||||
| Stores | 45 | 45 | 45 | |||||||||
| Employees | 1,925 | 1,987 | 2,061 | |||||||||
| (1) | Total variable operations include new vehicle, used vehicle (retail and wholesale), and finance and insurance proceeds |
| (2) | Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, used vehicle, and finance and insurance gross profit by total retail vehicle unit sales |
| (3) | Amount represents the impairment loss on automotive inventory of $11,738,413 less the other revenue of $872,459. |
| (4) | Excludes proforma impact of RSU issuance to certain employees |
Disclaimer
On August 31, 2021, RumbleOn, Inc. (“RumbleOn”) completed its business combination with RideNow. This supplemental pro forma combined company information has been prepared by RumbleOn for illustrative and informational purposes. This data should be read in conjunction with (i) RumbleOn’s Form 10-K for the year ended December 31, 2020 filed on March 31, 2021, (ii) RumbleOn’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 filed on May 17, 2021, (iii) RumbleOn’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 filed on August 4, 2021, (iv) the audited combined financial statements of RideNow Group and affiliates for the years ended December 31, 2020 and 2019 filed with RumbleOn’s Form 8-K filed on September 7, 2021 (the “Form 8-K”), (v) the unaudited condensed combined financials statements of RideNow Group and affiliates for the three months ended March 31, 2021 filed with the Form 8-K, (vi) the unaudited condensed combined financial statements of RideNow Group and affiliates for the three and six months ended June 30, 2021 filed with the Form 8-K, and (vii) the unaudited pro forma condensed combined statements of RumbleOn as of June 30, 2021 and for the six months ended June 30, 2021 and twelve months ended December 31, 2020 filed with the Form 8-K and prepared in accordance with Article 11 of Regulation S-X. This supplemental pro forma combined company information does not purport to project the future operating results of the combined company.
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