RumbleOn Third Quarter 2024 Earnings: Misses Expectations

RumbleOn (NASDAQ:RMBL) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$295.0m (down 13% from 3Q 2023).
• Net loss: US$11.2m (loss narrowed by 32% from 3Q 2023).
• US$0.32 loss per share (improved from US$0.99 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

RumbleOn Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 94%.

Looking ahead, revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Specialty Retail industry in the US.

Performance of the American Specialty Retail industry.

The company's shares are down 8.6% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for RumbleOn you should be aware of, and 1 of them doesn't sit too well with us.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.