RumbleON Shares Soar On Q2 Earnings Beat

• RumbleON Inc (NASDAQ: RMBL) reported second-quarter FY22 sales growth of 224% year-on-year, to $546.10 million, beating the consensus of $513.59 million.

• Total revenue grew 18.7% Q/Q, driven primarily by strength across the powersports segment.

• The gross profit rose 31% to $138 million, and the profit margin expanded 240 basis points to 25.3%, both sequentially. Gross profit jumped 608% Y/Y, and the margin expanded by 1,370 bps.

• Total unit sales were 23,330 versus 5,711 last year.

• The company held $77.7 million in cash and equivalents as of June 30, 2022.

• Adjusted EBITDA for the quarter was $44.3 million, and the adjusted EBITDA margin was 8.1%.

• Adjusted EPS of $1.20 beat the analyst consensus of $0.90.

• Outlook: RumbleON reiterated its FY22 sales outlook of $1.9 billion - $2 billion (consensus $1.93 billion).

• It sees FY22 adjusted EBITDA of at least $145 million.

• Price Action: RMBL shares are trading higher by 20.55% at $24.64 on the last check Tuesday.

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