RumbleOn Inc-B 2025年季度报告

(Mark One) Securities registered pursuant to Section 12(b) of the Act: 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 thepreceding 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 thepast 90 days.xYesoNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-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).xYesoNo 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 emerginggrowth company. See definitions of "large accelerated filer," "accelerated filer," "a smaller reporting company," and "emerging growth company" in Rule 12b-2 of theExchange Act. RumbleOn, Inc.Condensed Consolidated Balance Sheets RumbleOn, Inc.Condensed Consolidated Statements of Operations($ in millions, except per share amounts) NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 –DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Description of Business RumbleOn, Inc. operates throughtwooperating segments: a powersports dealership group and a vehicle transportationservices entity, Wholesale Express, LLC (“Express”). The Company was incorporated in 2013 and has grown primarily throughacquisitions. The Companyis headquartered in the Dallas Metroplex and completed its initial public offering in 2017. Unless the We offer a wide selection of new and pre-owned motorcycles, all-terrain vehicles (“ATV”), utility terrain or side-by-sidevehicles (“SXS”), personal watercraft (“PWC”), snowmobiles, and other powersports products, including parts, apparel,accessories, finance & insurance products and services (“F&I”), and aftermarket products from a wide range of manufacturers.Additionally, we offer a full suite of repair and maintenance services. After closing our Sturgis, South Dakota dealership, we Express provides asset-light brokerage services facilitating automobile transportation primarily between and amongdealerships and auctions throughout the United States. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company and its wholly ownedsubsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America(“GAAP”) for interim information and with the instructions on Form 10-Q and Rule 8-03 of Regulation S-X pursuant to the rules andregulations of the Securities and Exchange Commission (“SEC”) for smaller reporting companies. In accordance with those rulesand regulations, the Company has omitted certain information and notes required by GAAP for annual consolidated financialstatements. In the opinion of management, these condensed consolidated financial statements contain all normal, recurring Reclassifications Certain prior year amounts have been reclassified to conform to the current year's presentation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates andassumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at thedate of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Theseestimates are based on management's best knowledge of current events, historical experience, actions that the Company may Immaterial Correction of Statement of Cash Flows for the Three Months Ended March 31, 2024 Certain amounts have been adjusted on the accompanying condensed consolidated statement of cash flows for the threemonths ended March 31, 2024 compared to amounts reported in the Company’s Form 10-Q for the quarterly period ended March31, 2024. Certain trade floor plan notes payable were inadvertently classified as non-trade floor plan notes payable, which Management evaluated the materiality of the above items based on an analysis of quantitative and qualitative factors andconcluded they were not material to the three months ended March 31, 2024, individually or in the aggregate. Recent Pronouncements Not Yet Adopted Improvements to Income Tax Disclosures Issued in December 2023, ASU 2023-09,Income Taxes (Topic 740): Improvements to Income Tax Disclosures, focuseson the rate reconciliation and income taxes paid. This ASU requires disclosure, on an annual basis, a tabular rate reconciliationusing both percentages and currency amounts, broken out into specified categories with certain reconciling items further brokenout by nature and jurisdiction to the extent those items exceed a specified threshold. In a