CHANDLER, Ariz., May 14, 2026 /PRNewswire/ -- RideNow Group, Inc. (NASDAQ:RDNW), ("we", "our", the "Company", or "RideNow"), today announced financial results for the first quarter ended March 31, 2026.
Key First Quarter 2026 Highlights (Compared to First Quarter 2025)
Powersports Revenue increased 6.4%, reaching $260.4 million, which represents an increase of $15.7 million.
On a same store sales basis, Powersports Revenue was up 13.1%, driven by a 16.3% increase in unit sales.
Powersports Gross profit was $71.6 million, up 8.3%.
Selling, general & administrative expense ("SG&A") was $62.1 million, or 86.7% of total Company gross profit, compared to $61.1 million, or 90.9% of gross profit.
Net loss improved 55.7% to a loss of $4.3 million compared to a net loss of $9.7 million.
Adjusted EBITDA increased to $9.3 million from $7.0 million.
Commenting on the quarter, Chairman, Chief Executive Officer and President Michael Quartieri said, "I am invigorated by our team's unrelenting focus on execution, as evidenced by our first quarter results. Our tactical plan combines near-term initiatives to improve financial performance with structural changes to elevate the Company's strategic direction. All of our effort is focused on driving long-term value creation for our shareholders, and our first quarter results are further evidence that we are on the right trajectory."
First Quarter 2026 Results
Three Months Ended March 31,
($ in millions except units)
2026
2025
YOY Change
Revenue
$ 260.4
$ 244.7
6.4 %
Gross Profit
$ 71.6
$ 67.2
6.5 %
SG&A
$ 62.1
$ 61.1
1.6 %
Adjusted SG&A(1)
$ 60.4
$ 57.5
5.0 %
Operating Income
$ 7.6
$ 3.8
NM
Net Loss
$ (4.3)
$ (9.7)
55.7 %
Adjusted EBITDA(1)
$ 9.3
$ 7.0
32.9 %
Unit Retail Sales:
New Powersports
9,322
8,013
16.3 %
Pre-owned Powersports
4,593
4,307
6.6 %
Three Months Ended March 31,
($ in millions)
2026
2025
YOY Change
Operating Cash Flow
$ (27.6)
$ (6.9)
300.0 %
Capital Expenditures
$ (0.6)
$ (0.5)
(20.0) %
Free Cash Flow(1)
$ (28.2)
$ (7.4)
281.1 %
Mar. 31,
Dec. 31,
2026
2025
Change
Cash (unrestricted)
$ 30.2
$ 29.5
2.4 %
Long-term Debt, including Current Maturities
$ 211.3
$ 207.6
1.8 %
Principal of Long-Term Debt, including Current Maturities
$ 220.9
$ 218.8
1.0 %
Non-Vehicle Net Debt(1)
$ 190.7
$ 189.3
0.7 %
NM = not meaningful
(1) Adjusted SG&A, Adjusted EBITDA, Free Cash Flow, and Non-Vehicle Net Debt are non-GAAP measures. Reconciliations of most directly comparable GAAP to non-GAAP financial measures are provided in accompanying financial schedules.
First Quarter 2026, Operating Results
Key Operating Metrics
Three Months Ended March 31,
$ in millions, except per unit
2026
2025
YOY Change
Unit Sales (#)
Retail
New
9,322
8,013
16.3 %
Pre-owned
4,593
4,307
6.6 %
Total retail
13,915
12,320
12.9 %
Wholesale
779
866
(10.0) %
Total Powersports Unit Sales
14,694
13,186
11.4 %
Revenue
New retail vehicles
$ 135.0
$ 120.1
12.4 %
Pre-owned retail vehicles
52.0
48.1
8.1 %
Wholesale vehicles
4.9
3.8
28.9 %
Finance & Insurance, net
21.8
21.1
3.3 %
Parts, Services, and Accessories
46.7
46.1
1.3 %
Total Powersports Revenue
$ 260.4
$ 239.2
8.9 %
Gross Profit
New retail vehicles
$ 19.2
$ 16.3
17.8 %
Pre-owned retail vehicles
8.8
7.8
12.8 %
Wholesale vehicles
(0.2)
0.1
(300.0) %
Finance & Insurance, net
21.8
21.1
3.3 %
Parts, Services, and Accessories
22.0
20.8
5.8 %
Total Powersports Gross Profit
$ 71.6
$ 66.1
8.3 %
Powersports GPU(1)
$ 5,150
$ 5,365
(4.0) %
(1) Calculated as total powersports gross profit divided by total retail units sold.
Same Store Metrics(1)
Three Months Ended March 31,
$ in millions, except units and per unit
2026
2025
YOY Change
Same Store Units (#)
Retail
New vehicles
9,261
7,760
19.3 %
Pre-owned vehicles
4,593
4,118
11.5 %
Total retail
13,854
11,878
16.6 %
Wholesale
595
544
9.4 %
Total Powersports Unit Sales
14,449
12,422
16.3 %
