RMBL - Earnings call transcript Q1 2021

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Operator

Greetings. Welcome to RumbleOn's First Quarter 2021 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. to conference like host to now Sumnicht. Hilary would turn over the your I you. Thank

begin. may You

Hilary Sumnicht

Thank morning, to operator. us quarter you, Good financial on for Thank XXXX this joining you conference call results. discuss first ladies RumbleON's and gentlemen.

Investor the earnings investors.rumbleon.com. be note Marshall of this simultaneously written found additional the other This property Officer; that section Chief available webcast management Relations Berrard, Financial corporate or is commentary are section Steve taping the on conference reproduction of company’s details prior website our Chairman Officer. consent. Relations of and expressly Please at are Joining any me without Full call today RumbleON release, our Chesrown, be call is on on will Chief call the the the which Executive can and and results website. Investor of in and prohibited

following statements, to RumbleON's we I and that from would like to involve results that may and limited uncertainties discussed here. to those you materially remind not risks that forward-looking cause discussion the market financial results but actual Before differ contains future opportunities start, including,

The except developments in found to to discussion measures. Additional otherwise, to revise following them, statements or statements non-GAAP be or financial update forward-looking actual SEC are required based whether Also today, in questions obligation result expectations no of a of assumes contain forward-looking your this risks as filings. new information RumbleON and by may RumbleON’s results as the as law. differ and conference can call, periodic responses that cause could from including current on

see of our reconciliation these measures, a non-GAAP earnings release. please For financial

Marshall? to the turn over Now, I Marshall. will call

Marshall Chesrown

total We performance everyone profit quarter, us gross this the reported million and growth revenue Thanks, Hilary, first for quarter-over-quarter, adjusted positive joining $XX.X and EBITDA. solid thanks delivering XX% in morning.

in all revenue QX continue profit facets experience As with business. in growth to accelerate in illustrate that we our by and continuing to momentum we will guidance, gross our QX of

expect XX% a year-over-year QX revenue EBITDA and basis, XX% profit to XXX% and and XXX% another on respectively gross of quarter. deliver We to positive growth rates to

believe mission strategy believe Our past implement our In in businesses announced from a stack, the not pending with year, business nation's which transaction and to will the proposed the the improved right changed, of benefiting greater largest we've combination industry Though I enable is powersports to are with nature technology meaningful a economics. dealer planned during us to we already now, synergistic of we shortly. which enhancements both unit length powersports powersport closed, we yet overall over continued the discuss group share the the forever. which will tremendous transform transactions QX, participate not at time has but will combination,

margin liquidity improve we're impact seeing steps meaningful taken manage available few over the past our and our the to in results. limited have We capital and opportunity quarters and our

inventory in a we're and heard you availability, As that market in vehicle new which extremely with certainly vehicle be demand us all powersports and seeing the driving discuss, in there pre-owned imbalance to significant in continues segments. and low is higher resellers prices supply other

new we production as ramp level, back to to in from been haven't this far able leaving Even country, manufacturers COVID still emerged fewer normal and restrictions vehicles showrooms.

history. in particularly never business from better direct than margin DealerDirect. strong the for tailwind, has RumbleOn, our significant an with this buy improvements Clearly, new our consumers across strategy our and and BXB outstanding redistribution inventory opportunity created created to industry, of realize been sustainable While aligned our has it capabilities significant has constraints new short supply today through a

understand for a some our to we and our due macro QX QX capabilities, dealers business unique macro over which trends, we thus is consumers today. environments which a in core our the is macro normalize are that our extent important However, like is sharing all for our Build to expect it evident tailwind will model in from peers, guidance we our in margin time. solution recognized to perfect we backdrop near-term, a that benefiting believe is is

First, our aggregate ability which rumbleon.com, distribute efficiently successful highly powersports vehicles to through consumers buy strategy. includes direct from and our

As summer you to late RumbleOn.com exciting X.X last continue very momentum. know, we platform launched our and see

continue end, quarter RumbleOn.com XXX grow and had of As dealer to on nearly dealers count. our we

first at the in have industry operated dealers CycleTrader, April already months been X.X, fact, added number in launched for of we half has In this the space XX over who listings we since nine alone. over we XX In roughly seen RumbleOn more our Recently, the I imbalance, have due new under dealer we our decline on demand to stocking the estimate average in XX% just supply on site. levels, than that a normal would count, years. has listings listings expected Based vehicle dealer we XX,XXX discussed. per

where which trade retail experience, work prequalification to Most for overall ability inventory will with gross normal of generates significantly grow liquidity, dealer thus platform and fees taking for We dealers than back transactions Dealer We an including more with inventory first ownership. strength access enhanced quality demands to processes. from opportunities solutions competitive and significantly disrupt the consumers OEMs are offer leads, margin dealers powersports in dominance trade by to provides participate believe the our buy, in dealer the online RumbleOn is Direct the improved that rates online dealers This very RumbleOn quality financing experience importantly, completely redistributed to industry for inefficient which more without now participating number dealers dealer to From traditional incremental our day, deployment listings technology sales conversion instant per inventory. vision in to high fees and supply. revolves quality BXB consumer second, other, advantage can the and value of vehicles of transparent live get units around while of providing supply our as current near to earn in the transparent future. our directly acquired use real-time of launched to confident XX% of a the our RumbleOn. that The RumbleOn flows, market to with has their and we consumers was sell, tremendous further our is lead each the their finance and the locality Direct. auction from unparalleled evaluation is and dealer the model. platform and trade-in, increasing buy that to online. in very chain listings now and generation the enabling QX, fair consumers, for sell creates compelling for Build all sell-through be the very first to to sell pre-owned for unique they through and a strong improving all And of our from market-leading have or thus today marries consumer development software which Dealers Dealer and In our a solution. more transaction the

auction the connects average efficient sales, supply makes and eliminating and dealers timely acquire do vehicles acquisition and Our Dealer enabled assessable tasks than inventory online wholesale for new associated XXX% not tech And structure to this reduces from we revolutionize chain process which further ever, third-party and and our other cost pre-owned levels. making dealers, Instead Direct rate creates to real-time grade powersports a acquiring the in with for benefits. redistribute The dealers liquid more and powersport how is more completely powersport costs other Direct consumers. while already already multiple innovation platform dealers our no transaction pays for pre-owned reducing utilizing sell-through by fees Dealer freight. inventory. will or our record earn in more reconditioning, dealer fees and low stock expenses days auction has auction we turn a experienced platform newest

increase significant current of in All has guidance. and gross margin demonstrated results which our to our a future provides

We high growth in are units on we XXX% to increase in that by adoption. XXX XXXX growth We exceed driving units is and platform the we XXX%. seeing enabling through rapid our that approximately It substantial of as our with auction QX. is buy owned demand QX DealerDirect RumbleOn is in Thus and of are the to X.X sale and QX; both clear And company well expect sequential of higher margins combination sell fees. from and through grow sold BXB online the to expect platform. units DealerDirect to as the scale inventory, of dramatically of evolution number our application valuable business. RumbleOn The sold a

XXXX, following to to those RumbleOn operate to a know inception. achieve and nimbly, you achieve profitability. will more been through believe time and efficiency, lean since discuss we our a now managed are in that position Steve we we've have we our you this inventory and commitment organization operational now, who set shortly. RumbleOn for For of a detail had as goal profitability In some We maintaining financing but in inventory sustainable

QX, by XXXX unit operational and limitations in connection the RideNow to capability limited volume merger. was the XXXX hampered customer with severely our During our QX, capital and access proposed

growth over raised May the evidence believe market will We've and our our continue XX, accelerate capital and domination improvement runway significant balance to of three by the our on XXth, April QX forward However, liquidity we sheet. cash and unparalleled We share resilience XXXX, us current as capital on capital we structure. gives as a to our stronger significantly demonstrated and to have volume market we significant of with a gain past March structure necessary years, guidance.

America, pending omnichannel RideNow. business ahead, the As customer first by become we the combination excited incredibly we North our powersports opportunity through are with experience in look in to

Our multiple very enthusiasts deal augments for that and power industry able to mission future. the transaction encouraged in the to a near positive evolution be meaningful deliver OEMs solution This an very have powersports unparalleled in sports and this close discussions involved been our with nationwide. represents we're we'll the in

We are positions a Combining still end-to-end position market consumers the on of this company behavior the RumbleOn The meaningful billion capitalize to in by highly opportunity to market from the more fragmented have accelerated secularly us in changing on investors yet consumer public share one significant that marketplace $XXX Together we'll powersports. a the changes COVID-XX. part behavior. in growing consumer build will platform advancement secular excited to enable for dominant in and reach be and we bring day RideNow will combined the benefiting industry. powersports is to

integration into platform nation's retail and only first largest powersports of brand powersports RideNow that North the omnichannel combined business the is footprint complementary tremendous consolidation. organically service parts, We unmatched ancillary models as to omnichannel From in-store RumbleOn such merchandise Our financing, sale an industry and services consumer transform online and group extensive RumbleOn's will with experience. opportunities, technology America. believe have geographic strongly growth platform through and the the strong offer will dealer both end-to-end and in

in-store. the and to As offer combined most enthusiasts, consumers transparent will and Combined with that sale we sourcing, nationwide. the to reinventing to is highly to transaction expansion. and revenue purchase The company, improved our seeing for our And meaningful a transaction powersports already we we both vehicle will evidence combined online expected process easiest leading cost fastest, are margin monetization experience and the synergies propel businesses. drive growth are pre-owned lucrative and combination be proprietary

is drive improve by unlocking intent of efficiency transaction with this access consolidating all a to supply improving chain associated us, the quality For inventory, consumer to most fragmented sale pre-owned incremental industry experience. inadequacies, and improving the about the

hassle-free selection consumers the experience. and safe, most our offering about robust a dealers customers, and this simple, online flexible of is inventory through For

thrilled Steve? across sponsor We this high chapter love year. powersports omnichannel the We're to available month are for powersports RumbleOn Motorcycle longtime have consumers look and to events great official and in-person and from of customer Rally enthusiast. another year. with to XXXX, assessable April what hopeful about making writer country and a I'll And first in another became want the the to the Sturgis ownership meeting the shaping we time we again see our it's at over strong it that to the was and always, to of up experience QX. business for and year, successful City turn continue that, event is are powersports As a RumbleOn. this to need. first each North America. everyone return We they this we'll our next ambitions the for be time an event customers excited Steve. as forward an dealers to first and normal time rallies And in in support give

Steve Berrard

and you, Thank Marshall, morning, good everyone.

due $XX.X is sold higher QX. later quarter million X,XXX resulting comment results transactions XXXX. Form the quick we revenue available average generating purchase first X,XXX QX units demand lower will today. the release continued in revenue, Our from year-over-year and respectively sold at platform. supply were XX% due from and of volume be consumers This of online press first quarter gross on $X.X lower up open transportation and provide of the guidance; sold to selling available acquisition and direct levels quarter before morning revenue transactions as of detailed information an QX this our respectively commercial prices million, call we of basis but compared trends the acquire the up causing inventory briefly driven well of XX-Q in on results automotive from generating QX. are on and imbalance. XX% to through then The will revenue X,XXX the $XX.X morning, and and demand RumbleOn levels units X,XXX of acceptable million, We sold up as of we'll decreased and by number auction issued generated million efficiently filed a COVID-XX million our first units and that QX will sequential questions. right high our now, improvements increased vehicles in in activity market supplemental margins QX; $XX.X revenue overview our be I $XXX.X our directly XX% strong The QX XX% of XX% In to logistics price adverse revenue, and units powersport of the to vehicles in over for impact a and quality ability increased growth dealer the vehicle We pending powersport to QX. in as

connection Our approach of available disciplined historical levels inventory vehicle of the continued level we for XXXX and required implemented Dealer volume Direct. which we to to in prescriptive our our revenue X.X margin and inventory sale, accelerate liquidity, steps with our consumer purchasing in sales that as profitability direct to reduce to RumbleOn of through shift activity the powersport to available earmark dealers consumers elimination and continued to growth

basis supply over and experienced of gross Total profit return $XX.X business The inventory, levels before of or was volumes our or independent activity. Direct, vehicle profit of XX.X% having from which utilize result total for auction Dealer impact margins of driven the was the of X.X% to COVID-XX $X.X is X.X% for effective unit QX or last QX versus we being down that points fees. from the time, reconditioning will through or million gross million levels QX by the of in X.X% As abates COVID-XX, was transportation, exceed to driven XXXX. margins and new payment QX on of continued strength distribution up a for anticipate providers not in significant benefits Gross third-party constraints profitability commercial XX revenue in year. QX

don't gross chain constraints is continuing from benefited chain profit the supply in on long-term. believe over supply our new effects the on the we increase have that While sustainable inventory, we

remain for to XXXX. stabilize We rise. Total margins opportunities to revenue, from the XX% of million or of begin was expect levels as in $XX.X strong, demand and inventory vehicle of quarter but down acquisition XX% revenue QX SG&A

operating of from $X.X million for $X improvement was million, Our an a XXXX. of loss in loss QX quarter the

net and $XX loss a and and of million adjusted substantial loss XXXX. $X.X QX EBITDA $X.X $X,XXX,XXX the $X.X was from loss positive and a of million a EBITDA up net loss net RumbleOn’s million a improvement quarter, adjusted million first in the QX For EBITDA from million loss was $X.X

including $X.X restricted in had XX, cash. March of cash, million XXXX, $X million As in we

$XX.X proceeds million. accelerate XXXX, quarter beyond. the severely now a of stronger by entirety limitations sales QX end, operational in capital Substance the needed of the QX hampered have unit of we through with significantly limited X,XXX,XXX our offering structure, the level approximately proposed liquidity of merger. with closed of available net shares and B was the unit the revenue and we the in growth and volume sales Class place During QX our access With and to liquidity, capital to throughout and negotiations RideNow customary connection a public

combined provide revenue in RideNow. strong QX RideNow’s month to range the later of I'll turning market the preliminary to billion also March and forma are results and available in our RumbleOn SEC, EBITDA tailwinds. said revenue RideNow in expect expectations reiterating pro Before the to for in early while a June Their of full-year benefited results we to $XXX or outlook, potential million. and pretax the be will update from million prior $X.XX adjusted which $X.XX the on for this the income we once file we range outlook quick upside combined with XXXX, billion company, financial $XXX was we

outlook. the complementary of are our of expect in more earnings that are gross achieve believe growth. than we highly re-evaluating However, profit levels now We process this to and and ever revenue, significant business we models

that about business of to and will a company. We both are the opportunities with table RideNow combination excited the financial the combined profile the bring

take Dealer continued adoption standalone profitability of of RumbleOn's the the and in achieve volume second making to objective Direct increasing prescriptive of outlook, we're Turning goal we more approach improvements by solution. on seeing sales rapid as our the dealers quarter, our steps to we're disciplined to progress enhanced our reflecting

adjusted expecting return to $XX million. in to million of $XXX $X EBITDA of range $X.X quarter and total million revenue million, of $XXX positive We range profit another are strong economics positive a the adjusted of EBITDA. million a gross to $XX profit gross QX, are In quarter and with revenue and to strong anticipating unit year-over-year growth coupled we second expect a and million

levels increased experienced as or penetration anticipate to dealers. new time, and markets abates revenue and continue the exceed of in COVID-XX pre-pandemic will As that we we existing return purchasing impact inventory over add levels

our for expect combination so RumbleOn. to with not quarter, guidance business we're during providing close third year We RideNow the standalone full

and deliver and excited XXXX, to very those economics. are unit continued profitability call have operational place strong to commitment remarks. ahead closing achieve made I'll back continue our by to with revenue deliver believe commitment the that, we In to and pass to our We demonstrates efficiency. QX With opportunities the believe we and we progress a However, demonstrates results the made for guidance our goals. Marshall growth in we strategy profitability QX have the

Marshall Chesrown

Steve. Thanks, we vehicle the make continue on and day. disrupt mission chain RumbleOn building mission to We progress began to inefficient supply the with that every

months Service, it of due are convenience provider myriad importance technology of not no online from winner be the enhancing only and accessories, but optionality, process, model company profile, of market the believe margin parts, best the our no looking provides meaningful the a more We RumbleOn's economics. make and future mistake underestimated. the should presence and and And about the consumer. prominent not can us an merchandise concept which our secular thrive more vehicle to it. both a for digital are we enable bricks-and-mortar and in in capture presence, dealers but the There taking a macro with profitability will online and the to gross last is it be scalable without space provides transparency several advantage tailwinds solutions. business the have omnichannel spent that better the in to We be increasingly industry with to real trends environment unit solutions share will retail as

powersports all ready for Operator, the stakeholders the transforming for are and very questions. we're are industry We for future. excited

Operator

JMP proceed of from Josey [Operator first comes the Please with question question. Instructions] with your line Our Securities. Ron

Ron Josey

and taking thanks Marshall question, the Great, for Steve.

here, one. we'll several by one maybe do got I've So so just

you acquisition. about the That's what acquisition. synergies give specifically Just synergies already RideNow, you XQ, close dealer-to-dealer maybe merger the on on mentioned, you've talked update or financing are just ahead talked of benefits distribution about an closing in RideNow of you seeing Marshall, the And us here seeing one. just process the maybe Can the around talk about? timeframes you're question you're maybe some synergies and you because here, of Steve, can then number just in those on the progress

seeing you're then and financing. timeframes synergies So and

Marshall Chesrown

synergies morning. good All Ron, right,

Ron Josey

Good morning.

Marshall Chesrown

at since and two access announcement. starting them be looked really March. I these see extremely And from days. we that available along to in to perspectives it think, has providing dramatically to able been numbers their accelerated the is get further with as in you'll everybody, from pre-owned are early I think One I inventory

as pre-owned a part them that anticipated biggest are of biggest they been grow and one every in fill to So able to need inventory been meaningful we it of continues their their – and has – we've way shortcomings week. quality of one to access

be with test. bigger our have been Second And that there opportunity have piece of a retail is the we really to regards Finance. is seen would RumbleON They what on part consumer much vehicle It's we than but evident not well. looks huge it there that anticipated. only the originally in as finance is to us the on space, also side opportunity page pre-owned new a

So, they our we're are ramping the side capabilities inventory. in working participating aggressively for finance and and diligently Dealer on additional Direct

question. So let the of half Steve, that take I'll second you

Steve Berrard

Sure. Good morning, Ron.

the we're as close, OEM manufacturer right conditions are two Scott and On the you [ph] approval, timing, or ones. the being to remember biggest Autosport getting now

OEMs. all applications have now We of the with made our

So far very received, been they've they've cooperative. been well

many that long franchise need location RideNow a to situation, as be there's a how applications the think, just is get in as it's plus I because agreement. question every XXX they of separate filed

– now of if we therefore, larger all that So, been going applications, has any done. ones XX a Suzukis, process pretty pushback XX through question anything, or have file it's been have if you resistance just to you extremely And had the but have receptive. much the

raise have to Q disappoint, it believe we – in short-term would sometime we start done let's to weeks better our the we that XXX that we'll the view capital have that be or a think for that So would that. we from hopefully Yes, to transaction endeavors be but I we just take of and July, it's interim acquisition obviously few by our ago. expectations which and with is maybe plus end like did letter were going the to just think just June? your early working not raise set then and future XXX complete On I recall, financing to – for not question, commitment XXX do a whether to deal, to the we another Oaktree, here

we need So $XX $XX raise when then extra shared that to have close sheets $XX somewhere another that million. or offering entire the million probably transaction. results of with between to is are million, to want now $XXX million on question we deal, going sheet and left step only balance we – the people up do I balance the to to The capitalize something we've do had a the number offer and

a So do it we decision here remains closing, it do one the get or an or we the is or just next we individuals, only weeks. closer in will yet. filing question two made Do to two with in when haven't be offering we three shortly that we proxy that

Ron Josey

plan, on Got is another question I We're going you to everything guidance. month. just a think Marshall, on halfway it. super was Glad hear helpful. maybe mentioned, April That's through, strong

between said about, talked was the talked little got and and just more as since Just what on. think, mix XQ more a talk dealer-to-dealer, we've consumer you the you dealer-to-dealer, I about April follow-up. or and the in launch, given saw On about strings bit one I you

Marshall Chesrown

been far thus been March, strong good. in through, accelerated we a has kind halfway Actually May problem. started has bit of March It's quite a very, April. very March. from no had extremely And Yes,

the cars to margin whether a be majority you to going think the margins very is before, other BXB in of look of a comparison to there the of six the at And understand, think I that is strong dealers level vehicles really are business, easy is And they heard and including to be we're consumer company that the gross our take experience very, to confidence dramatically. regard. Ron, in gross weeks shortcomings And our gross the we to here the I to have being space. retail We or on consider the of associated to money. money ASP the a SG&A lesser urge which would you that is the are compared selling a then transaction, at performance see make say in dealer me gross produces regards a ramp the I I these between of anything improvement left, as – the understand growing that investors in I transaction And is as we biggest margin But so industry. high the in margin. you'll you've things amount to that have the on look losing compared would position different that we part that and would And providers, guidance. consumer we the is important online vehicle to that retail owns in continue forward if think this think significant you march margins of basically at, models difference

Steve Berrard

going and exceeded our results I first I what far it. the April actually that on consumer of of you if originally – through of thoughts looking to we today their some Ron, Obviously, add representation have could right anecdotal just would thought. now give their at be quarter expectations through side

they've QX. that into just growth continued seen that over into has So, QX right carried

into think of I hold. from perspective, marketplace take So the bubble consumer the coming the think powersports. really to a to want people more are changes that fear And starting enjoy there whole COVID just their I lifestyle

Ron Josey

quarter and time. just Great, Marshall that's great some hear insights tailwinds see in the one, autos the queue. about really contributing didn't Thank back you that here, on maybe we Steve. guys. Maybe business go talk definitely There's one and much Autos, you I'll going, some where it. last and how that's for

Marshall Chesrown

automobile obviously now our transaction and the powersports. has you, and BX of efforts regards Yes, for with and Ron. launching launching to Thank bet. with You the right very, good, technology improvements pending all our been BXB very

a but Our the probably are focus automotive been vehicle as of lot extremely as career. seen my right reports, again, our with are call, new of we seeing. in on now explained I've In business, in as see powersports, the lack inventory in as part, that do high been has to you'll margins has the dealers Gross that has strong.

So activity lanes, times high we're seeing auction of levels. at are all gross high lot a margins in the extremely

which business XXX,XXX in cars same uptick hauls or well type XXX,XXX year, Our logistics company, seeing is as over the cars dispatches the over of well. last

automotive well. So doing is the business extremely whole

group, new retail Palm into Our moved success. Florida Beach, with we location in big a

that acquire cash a that through business people And to on a We so, offer liquidity. still standpoint like we lot. lot think interesting tool come from it's a of the RumbleOn.com

chain, Carmax, However, regular there's a liquidity Carvana, players be that would that in Vroom dealers. whether significant amount and of

side, powersports really are we the player. the dominant On

So the It's our extremely summation time, that most of and is assets remain powersports focus basically our dominance. in the automobile we're think business. – deployed those but are major towards some yes, been We tailwinds quite for profitable. our in

Ron Josey

Great. Marshall. you, you, Thank Steve. Thank

Marshall Chesrown

Thank you.

Operator

our Dionisio question with comes question. your Rommel line Aegis Please from And next with of the Capital. proceed

Rommel Dionisio

morning Thanks. And good guys.

two for you. questions So

you approximately qualitatively, I how given think ago, it prior perspective Marshall that ratio of you the to, quarter XXXX. a they if demand on about can you talked of could don't manufacturers, had X-to-X just your and the new the in used supply exact an might second, RideNow, Klim, supply just constraints all last discussed how, about have about number perspective just in question, vehicles what comments changed sort you or when if to the the in I Harley, to the today, others they've approximate imbalance of if put even you about be some talk if months, I some that maybe talk months? a worse? for the last the changed for have at few transaction RideNow of if you wanted wonder just few some and the with better just that's how of about OEM producers given sort Thanks. get of Polaris, at general close here. relationships with the more to could the like And ratio. changed in all I Suzuki, the want

Marshall Chesrown

Okay.

when to pre is their going they're all when that side. to vehicle to reduced across two dealers, with a are do mix have drive released. I a of as things availability country pre-owned the mathematically job then will just preempt, a better – thus do Part think new improvement on their they obviously new I it of showrooms think numbers the regards the do on significant

we improvement – an to I of publicly. we that you some will number announced and North nor quantified see So that, X-to-X haven't from have

across not And be better confident see over than locations think it are company but some be have you'll to the I a very perspective, overtime – only be the even today more profitability think ratio think one-to-one it would to long-term ratio that and one-to-one that actual I from perform levels can I a exciting is we achievable. think we extremely at very, that. a

didn't pushback. Steve far some as mentioned the think we OEM very response any and been as As his surprised, would pleasantly cases I see in that it's say in industry. it's, we're we've dealer narrative that, encouraged reception vehicle powersports been It that the long-term the We the very, aware to from last the extremely strong. vehicle very know important segments. of, We community has last is

camping and days likes the with RVs in lazy involved capital public of world. have You

the marine in You have one all the groups MarineMax. course, in business AutoNation, capital dominate space. started marine that public boat of with public was and Steve of now And capital the Co-Founder which automotive and the

cross you're on first response think could hurdles some think system always of the bordered the powersports. from the we that there's space. So what – excitement is to the Steve the when and perspective I think game. of We But the for bring franchise OEMs mentioned, my it some as we're first to some in to the

said as responses, but very states have applications have to So obviously constraints are when we're they respond. the on encouraged. time most in not And do all there's in. We Steve

near responses seen any, response very expect lead a we coming. negative future, not in to us that So there's have believe would we anything and that the

Rommel Dionisio

much, Marshall. perspective. for the Thanks Thanks Great. very

Marshall Chesrown

Thank you.

Operator

there are that ladies also gentlemen with And further this the in no and today's teleconference. concludes questions and left queue,

your thank wonderful you So now this and We have at for participation lines day. your you a may time. disconnect

RumbleON (RMBL) 17 May 212021 Q1 Earnings call transcript