DALLAS - RumbleOn (NASDAQ: RMBL), a leading retailer in the powersports industry, has announced the appointment of Brandy Treadway as its new Senior Vice President and Chief Legal Officer. Treadway, with a legal career spanning over 20 years, including executive roles at J.C. Penney Company, Inc., and as a partner at Martin Powers & Counsel, PLLC, will oversee the company's legal and human resources departments.
Treadway's appointment, effective since Monday, February 12, 2024, places her at the helm of key corporate functions within RumbleOn as it pursues further growth and transformation. She brings a wealth of experience to the role, having previously managed legal operations for the Fortune 250 company, JCPenney, and led an extensive review of its organizational structure.
RumbleOn CEO Mike Kennedy expressed his enthusiasm for Treadway's addition to the team, citing her comprehensive skill set and background in both legal and HR domains as assets that align with the company's strategic vision.
In her statement, Treadway expressed her honor in joining RumbleOn during what she describes as an "exciting phase of growth and innovation." She highlighted the company's pioneering status in the powersports market and her eagerness to contribute to its strategic initiatives.
Treadway holds a Juris Doctor from SMU Dedman School of Law, where she graduated magna cum laude and was inducted into the Order of the Coif. She also earned two BA degrees from the University of Virginia.
RumbleOn operates as the largest powersports retailer in North America through its RideNow Powersports subsidiary, with over 54 locations across primarily Sun Belt states. The company retails a diverse array of new and used motorcycles, all-terrain vehicles, and other powersports products, alongside offering financing, parts, repair, and maintenance services.
This announcement is based on a press release statement from RumbleOn.
InvestingPro Insights
As RumbleOn (NASDAQ: RMBL) welcomes Brandy Treadway as the new Senior Vice President and Chief Legal Officer, the company's financial health and market performance continue to be of interest to investors. With a market capitalization of $251.07 million, RumbleOn's position in the powersports industry is noteworthy. However, the company faces challenges, as reflected in the recent financial metrics and analyst insights.
InvestingPro data reveals a revenue growth of 10.5% over the last twelve months as of Q1 2023, indicating a positive trend in the company's sales. Yet, the quarterly figures show a different story, with a revenue decline of -11.18% in Q1 2023. This mixed performance is complemented by a gross profit margin of 22.78%, which suggests a reasonable level of operational efficiency.
Despite a strong return over the last three months, with a price total return of 16.42%, InvestingPro Tips indicate that RumbleOn operates with a significant debt burden and analysts do not expect the company to be profitable this year. Moreover, the stock price is known for its volatility, which could be a concern for risk-averse investors. The company's valuation also implies a poor free cash flow yield and is trading at high EBIT and EBITDA valuation multiples.
For those considering an investment in RumbleOn, it may be beneficial to explore the full range of InvestingPro Tips available at https://www.investing.com/pro/RMBL. There are several additional tips listed, which can provide deeper insights into the company's financial health and market expectations. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive analysis for informed investment decisions.
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