RumbleON Non-GAAP EPS of $0.27 misses by $0.56, revenue of $470.3M beats by $3.93M, updates FY guidance

Nov. 09, 2022 7:38 AM ETRumbleON, Inc. (RMBL)By: Deepa Sarvaiya, SA News Editor

RumbleON press release (NASDAQ:RMBL): Q3 Non-GAAP EPS of $0.27 misses by $0.56.
Revenue of $470.3M (+112.6% Y/Y) beats by $3.93M.
Outlook:
Total Company Revenue within the range of $1.85 to $1.90 billion vs. consensus of $1.96 billion.
Powersports Segment revenue of at least $1.50 billion. Note that prior Total Company revenue outlook implied a revenue outlook of $1.45 billion for this segment, at the midpoint.
Non-Powersports Segments (Automotive & Vehicle Logistics) revenue within the range of $350 to $400 million driven by anticipated volume declines in the Automotive Segment. The prior revenue outlook range for non-Powersports Segments was approximately $500 million
Adjusted EBITDA of at least $125 million, due to expected lower realized gross margin in the Automotive Segment, anticipated modest gross margin compression in the Powersports Segment, and continued expectation of ongoing organic investments and integration costs resulting in no SG&A leverage for the remainder of this year.
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