rdnw-20250930

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)


x			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2025


			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 001-38248


			RideNow Group, Inc. (Exact name of registrant as specified in its charter)
			Nevada						46-3951329
			(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

			2677 E Willis Road, Chandler, Arizona						85286
			(Address of principal executive offices)						(Zip Code)


(480) 755-5200
(Registrant's telephone number, including area code)


RumbleOn, Inc., 901 W. Walnut Hill Lane, Suite 110A, Irving, Texas 75038
(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class B common stock, $0.001 par value

RDNW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes o No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). x Yes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.


Large accelerated filer	o	Accelerated filer	x
Non-accelerated filer	o	Smaller reporting company	x
		Emerging growth company	o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o Yes x No

The number of shares of Class B common stock, $0.001 par value, outstanding on October 31, 2025 was 38,017,502 shares. In addition, 50,000 shares of Class A common stock, $0.001 par value, were outstanding on October 31, 2025.

Table of Contents

RideNow Group, Inc.

QUARTERLY PERIOD ENDED SEPTEMBER 30, 2025

Table of Contents to Report on Form 10-Q


PART I	FINANCIAL INFORMATION

Item 1.	Financial Statements (Unaudited)	1
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	20

Item 4.	Controls and Procedures	29

PART II	OTHER INFORMATION

Item 1.	Legal Proceedings	31
Item 1A.	Risk Factors	31



Item 5.	Other Information	31
Item 6.	Exhibits	32
SIGNATURES		33

Table of Contents

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

RideNow Group, Inc.

Consolidated Balance Sheets

($ in millions, except per share amounts)


	September 30, 2025		December 31, 2024
ASSETS	(Unaudited)
Current assets:
Cash	$	35.4	$	85.3
Restricted cash	16.4		11.4
Accounts receivable, net	33.7		30.5
Inventory, net	266.0		240.6
Prepaid expense and other current assets	6.8		3.6
Total current assets	358.3		371.4
Property and equipment, net	62.0		63.5
Right-of-use assets	150.2		157.1
Franchise rights and other intangible assets	127.8		161.9
Other assets	1.1		1.3
Total assets	$	699.4	$	755.2
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable and other current liabilities	$	83.9	$	75.4
Vehicle floor plan notes payable	235.3		209.9
Current portion of long-term debt	0.4		39.1

SEC Form 10-Q filed by RideNow Group Inc.