IRVING, Texas - RumbleOn (NASDAQ:RMBL), a prominent player in the powersports retail market, has announced its new strategic operating plan, Vision 2026, with ambitious financial targets for the next three years. The company aims to achieve annual revenue exceeding $1.7 billion, annual adjusted EBITDA of more than $150 million, and annual adjusted free cash flow of $90 million or more by the end of 2026.
The plan, revealed by CEO Mike Kennedy, rests on three strategic pillars: operating the most efficient dealerships in the U.S., capitalizing on the RideNow Cash Offer Tool to boost pre-owned vehicle business, and allocating capital to maximize long-term per share value.
Kennedy, who took over the company's leadership in November 2023, emphasized the importance of net profit and customer satisfaction as the metrics for the first pillar, which involves enhancing dealership performance. The second pillar focuses on expanding the pre-owned vehicle segment through the RideNow Cash Offer Tool, with plans to pilot the first standalone pre-owned dealership this year.
The third pillar of the strategy revolves around strategic capital allocation with a priority on investing in the business and acquiring additional dealerships, always with an eye on creating shareholder value.
RumbleOn operates two segments: RideNow Powersports, the largest powersports retail group in the U.S., and Wholesale Express, LLC, a transportation services provider. RideNow Powersports offers a vast selection of new and pre-owned products, including parts, apparel, and finance & insurance products, and services across over 500 franchises.
The information in this article is based on a press release statement.
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