RideNow Q2 Revenue Misses by 7% on Store Closures, EBITDA Also Light
RDNW has more than doubled off its 52-week low of $1.99 on light trading volume (0.4× avg).
Summary
RideNow's Q2 revenue fell 1% to $296.8M, missing the $319.7M consensus by 7%. Adjusted EBITDA of $20.5M also came in below the $21.2M estimate. The top-line miss was driven by store consolidation and the exit of transportation services at end-2025, though same-store powersports revenue grew 3%. Net income swung to a $6.5M profit from a loss a year ago, helped by a 2.5% decline in SG&A. This is the first earnings report since the auditor change to Deloitte in June, and the miss raises questions about the pace of the turnaround. No guidance was provided, leaving the market to assess whether the cost-cutting can offset the revenue headwinds from the shrinking store base.
At the time of this announcement, RDNW was trading at $6.51 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $251.2M. The 52-week trading range was $1.99 to $8.55. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.