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PR Newswire·

RideNow Group, Inc. Reports Third Quarter 2026 Financial Results

RDNW
  • RideNow Group, Inc. reported third quarter 2026 total revenue of $244.3 million, a 13.1% decrease from the prior year period.
  • Same store sales for Powersports revenue declined 7.9% due to reduced unit volume, lower consumer discretionary spending, & the initial rollout of the Clear Price transparent pricing model.
  • The company refinanced its senior secured term loan facility into a new $220.0 million loan maturing in September 2031 & is in advanced discussions for a $50.0 million senior secured asset-based revolving credit facility.
  • Total gross profit fell 13.8% to $65.5 million while SG&A expenses decreased $4.8 million to $59.6 million.
  • Net loss widened to $13.9 million from $4.1 million in the prior year, & Adjusted EBITDA dropped to $5.3 million from $12.3 million.
  • Chairman & CEO Michael Quartieri attributed the revenue contraction to the strategic "RideNow Clear Price" initiative designed for FTC compliance, noting a Q4 rebound is expected.
  • Unit retail sales for new powersports vehicles decreased 17.9% to 8,127 units, while pre-owned vehicle sales dropped 13.7% to 4,055 units.
  • The company completed an accretive acquisition of a dealership in Tallahassee, Florida, & reduced costs by $4.6 million on an annualized basis during the quarter.
  • Total available liquidity stood at $149.4 million as of September 30, 2026, comprising $47.6 million in total cash & $101.8 million in floor plan credit availability.
  • Adjusted Free Cash Flow for the nine months ended September 30, 2026, increased 173.1% to $14.2 million, contrasting with a $41.7 million cash outflow from operating activities.
Company
RideNow Group, Inc.
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RideNow Group, Inc.