RideNow Group Inc

ridenow.com

What Do They Do?

Sells new and pre-owned motorcycles and other powersports vehicles, plus parts, accessories and repair services, to consumers through a dealership group.

How Do They Make Money?

Customers pay for new and used vehicles at sale, or a third-party lender pays shortly afterward. Parts are paid for at sale or shortly afterward, repairs when completed, and RideNow earns commissions on finance and insurance products when arranged, generally at the vehicle sale.

revenue

Segment	Share	How money arrives
Powersports vehicles Sold outright	72% FY2022: 71%	Sold outright
Parts, service and accessories Sold outright	18% FY2022: 17%	Sold outright
Finance and insurance, net Sold outright	9.0% FY2022: 8.5%	Sold outright
Vehicle transportation services	0.8% FY2022: 3.7%

Who Are Their Customers?

Consumers buy vehicles, parts and services through retail dealerships; other dealers can buy vehicles through wholesale channels, including dealer-to-dealer auctions. RideNow also sources used vehicles directly from consumers through its online Cash Offer tool.

Do Revenues Turn Into Profits?

Not on paper. It lost $52.4M in FY2025, but brought in more cash than it spent: $10.3M of free cash flow.

Operating income, FY2025

0% of revenue

▼ −99% (Loss) vs FY2024 (−$15.2M, −1%)

Net income, FY2025

−5% of revenue

▼ −33% (Loss) vs FY2024 (−$78.6M, −7%)

Free cash flow, FY2025

1% of revenue

▼ −89% vs FY2024 ($97.4M, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −1%; vs $299.9M in Q2 FY2025
Net income: ▲ Now profitable; vs −$32.2M in Q2 FY2025

Powersports vehicles share of revenue vs 73.0% in Q2 FY2025

Jun 11, 2026 Appointed Deloitte after dismissing BDO as auditor The company also reported material weaknesses in internal controls for its latest fiscal year.

Online model to retail stores The older report described an online and in-store powersports model; the latest report describes a strategy focused on owning and operating powersports retail stores.

Transportation services ended The older report included freight brokerage for dealers and consumers; the latest report says RideNow stopped providing vehicle transportation services to third parties.

Revenue over time

Powersports vehicles Parts, service and accessories Finance and insurance, net Vehicle transportation services Vehicle logistics

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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