EX-99.1
12
ea146879ex99-1_rumbleoninc.htm
SUPPLEMENTAL PRO FORMA COMBINED COMPANY INFORMATION
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
Page
1
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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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EX - 99 . 1 12 ea146879ex99 - 1 _ rumbleoninc . htm SUPPLEMENTAL PRO FORMA COMBINED COMPANY INFORMATION 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 Page 1 of 2 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 . Page 2 of 2