\nRumbleOn, Inc (NASDAQ: RMBL), an e-commerce company using innovative technology to aggregate and distribute pre-owned vehicles, today announced financial results for the three months ended June 30, 2021. Management is hosting an investor call to discuss results today, August 2, 2021 at 8:30 am ET.\n<\/p>\n
Management Commentary: <\/b><\/p>\n
\n\u201cRumbleOn continued to execute in the second quarter, with gross margin expansion outpacing our 100% year-over-year revenue growth,\u201d said Marshall Chesrown, Chief Executive Officer. \u201cNot only are we hard at work on the pending business combination with RideNow, but we delivered across our strategic priorities. We continued to add new dealers to RumbleOn.com and have over 60,000 new, used and private party listings on our site today. And, with over 500 dealers using our services and our B2B functionality with more dealers in the pipeline to be onboarded, we are seeing strong demand and remain confident in our strategy to offer virtual inventory, quality leads and services to dealers nationwide.\u201d\n<\/p>\n
Second Quarter 2021 Financial Highlights<\/b><\/p>\n \nA description of our results of operations for Q2 2021 compared to Q2 2020 will be included in the Quarterly Report on Form 10-Q to be filed later this week.\n<\/p>\n \nAdjusted EBITDA is a non-GAAP financial measure. Reconciliations of non-GAAP financial measures used in this release are provided in the attached financial tables.\n<\/p>\n Transaction Update and Outlook<\/b><\/p>\n \nOn Friday, July 30, 2021, RumbleOn announced that its stockholders approved the proposed business combination with RideNow at the Special Meeting of Stockholders. The business combination is expected to close very soon subject to the satisfaction of the remaining closing conditions.\n<\/p>\n \nRumbleOn is providing certain preliminary Q2 2021 financial results for RideNow and will file full financial results with the SEC in the coming days. For the second quarter of 2021, RideNow sold 13,080 units and generated $268.2 million of total revenue. Net Income was $54.5 million, which included $19 million of forgiveness of its PPP loan debt. Exclusive of the debt forgiveness, RideNow\u2019s net income would have been $35.5 million. Adjusted EBITDA, which excludes the debt forgiveness, was $36.8 million in the quarter.\n<\/p>\n \nTogether, the combined company will have a dominant position in a $100+ billion powersports market. The only Omnichannel platform in powersports will enable the combined company to reach more consumers in a secularly growing – yet still highly fragmented market, that is benefitting from changing consumer behavior. The transaction is expected to propel revenue growth and drive meaningful cost synergies, leading to improved monetization and margin expansion.\n<\/p>\n \nThe Company remains very confident in its full year 2021 guidance for the combined company. Assuming a combination as of January 1, 2021, RumbleOn expects combined company revenue in a range of $1.45 billion to $1.55 billion and adjusted EBITDA in a range of $110.0 million to $115.0 million.\n<\/p>\n \nGiven the pending business combination with RideNow, RumbleOn will not be providing standalone guidance for the third quarter.\n<\/p>\n \n\u201cAs we announce these outstanding results and work toward closing our transformative transaction with RideNow, we are reminded of the unexpected and sudden passing of Steve Berrard, our co-founder, CFO and dear friend. RumbleOn would not be in the position it is today without his tremendous knowledge, experience, and contributions. Steve\u2019s legacy lives on in our work at RumbleOn. I am so proud of the entire RumbleOn team for stepping up, supporting each other, and committing to our vision each and every day and delivering another quarter of strong results,\u201d concluded Mr. Chesrown.\n<\/p>\n Conference Call Details<\/b><\/p>\n \nRumbleOn’s management will host a conference call to discuss its financial results today, August 2, 2021 at 8:30 a.m. Eastern Time. A live and archived webcast can be accessed from RumbleOn’s Investor Relations website at https:\/\/investors.rumbleon.com<\/a>. To access the conference call telephonically, callers may dial 1-877-407-9716 or 1-201-493-6779 for callers outside of the United States and entering conference ID 13721389.\n<\/p>\n About RumbleOn<\/b><\/p>\n \nFounded in 2017, RumbleOn (NASDAQ: RMBL) is an e-commerce company using innovative technology to aggregate and distribute pre-owned vehicles. RumbleOn is disrupting the pre-owned vehicle supply chain by providing dealers with technology solutions such as virtual inventory, and a 24\/7 distribution platform, and consumers with an efficient, timely and transparent transaction experience, without leaving home. Whether buying, selling, trading or financing a vehicle, RumbleOn enables dealers and consumers to transact without geographic boundaries in a transparent, fast and friction free experience. For more information, please visit http:\/\/www.rumbleon.com<\/a>.\n<\/p>\n Non-GAAP Financial Measures<\/b><\/p>\n \nAs required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of the non-GAAP financial measures contained in this press release to the most directly comparable measure under GAAP, which are set forth in the financial tables attached to this release. Non-GAAP financial measures for the three months ended June 30, 2021, June 30, 2020, and March 31, 2021 used in this release include: adjusted EBITDA.\n<\/p>\n \nAdjusted EBITDA is a non-GAAP financial measure and should not be considered as an alternative to operating income or net income as a measure of operating performance or cash flows or as a measure of liquidity. Non-GAAP financial measures are not necessarily calculated the same way by different companies and should not be considered a substitute for or superior to U.S. GAAP.\n<\/p>\n \nAdjusted EBITDA is defined as net income (loss) adjusted to add back interest expense (including debt extinguishment), depreciation and amortization, changes in derivative liability and certain recoveries, charges and expenses, such as an insurance recovery, non-cash stock-based compensation costs, acquisition related costs, litigation expenses, and other non-recurring costs, as these recoveries, charges and expenses are not considered a part of our core business operations and are not an indicator of ongoing, future company performance.\n<\/p>\n \nAdjusted EBITDA is one of the primary metrics used by management to evaluate the financial performance of our business. We present adjusted EBITDA because we believe it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, we believe it is helpful in highlighting trends in our operating results, because it excludes, among other things, certain results of decisions that are outside the control of management, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure and capital investments.\n<\/p>\n \nWith respect to our combined 2021 financial target for adjusted EBITDA, a reconciliation of this non-GAAP measure to the corresponding GAAP measure is not available without unreasonable effort due to the variability and complexity of the reconciling items described above that we exclude this non-GAAP target measure. The variability of these items may have a significant impact on our future GAAP financial results and, as a result, we are unable to prepare the forward-looking statement of income prepared in accordance with GAAP that would be required to produce such a reconciliation.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release may contain “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed under the heading “Forward-Looking Statements” and “Risk Factors” in the Company’s SEC filings, as may be updated and amended from time to time. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.\n<\/p>\n RumbleOn, Inc.<\/b><\/p>\n Condensed Consolidated Balance Sheets<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n As of \n\u00a0\n<\/p>\n<\/td>\n As of \nASSETS\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCurrent assets:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCash\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n24,972,223\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,466,831\n<\/p>\n<\/td>\n<\/tr>\n \nRestricted cash\n<\/p>\n<\/td>\n \n3,049,056\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,049,056\n<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net\n<\/p>\n<\/td>\n \n26,955,051\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,407,960\n<\/p>\n<\/td>\n<\/tr>\n \nInventory\n<\/p>\n<\/td>\n \n19,675,990\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n21,360,441\n<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expense and other current assets\n<\/p>\n<\/td>\n \n4,058,905\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,446,225\n<\/p>\n<\/td>\n<\/tr>\n \nTotal current assets\n<\/p>\n<\/td>\n \n78,711,225\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n37,730,513\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nProperty and equipment, net\n<\/p>\n<\/td>\n \n6,295,683\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,521,446\n<\/p>\n<\/td>\n<\/tr>\n \nRight-of-use assets\n<\/p>\n<\/td>\n \n5,007,605\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,689,637\n<\/p>\n<\/td>\n<\/tr>\n \nGoodwill\n<\/p>\n<\/td>\n \n26,886,563\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,886,563\n<\/p>\n<\/td>\n<\/tr>\n \nDeferred finance charge\n<\/p>\n<\/td>\n \n10,950,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \nOther assets\n<\/p>\n<\/td>\n \n221,712\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n151,076\n<\/p>\n<\/td>\n<\/tr>\n \nTotal assets\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n128,072,788\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n76,979,235\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLIABILITIES AND STOCKHOLDERS’ EQUITY\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCurrent liabilities:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable and accrued liabilities\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,821,750\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,707,448\n<\/p>\n<\/td>\n<\/tr>\n \nAccrued interest payable\n<\/p>\n<\/td>\n \n1,606,954\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,485,854\n<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of convertible debt\n<\/p>\n<\/td>\n \n415,113\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n562,502\n<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of long-term debt\n<\/p>\n<\/td>\n \n27,251,151\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n20,688,651\n<\/p>\n<\/td>\n<\/tr>\n \nTotal current liabilities\n<\/p>\n<\/td>\n \n42,094,968\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n35,444,455\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLong-term liabilities:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNote payable\n<\/p>\n<\/td>\n \n4,691,181\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,691,181\n<\/p>\n<\/td>\n<\/tr>\n \nWarrant liability\n<\/p>\n<\/td>\n \n13,174,216\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \nConvertible debt, net\n<\/p>\n<\/td>\n \n28,079,484\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n27,166,019\n<\/p>\n<\/td>\n<\/tr>\n \nDerivative liabilities\n<\/p>\n<\/td>\n \n48,800\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16,694\n<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liabilities and other long-term liabilities\n<\/p>\n<\/td>\n \n4,022,292\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,090,221\n<\/p>\n<\/td>\n<\/tr>\n \nTotal long-term liabilities\n<\/p>\n<\/td>\n \n50,015,973\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n36,964,115\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities\n<\/p>\n<\/td>\n \n92,110,941\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n72,408,570\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCommitments and contingencies (Notes 6, 7, 8, 11, 16)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nStockholders’ equity:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nClass B Preferred stock, $0.001 par value, 10,000,000 shares authorized, 0 and 0 shares issued and outstanding as of June 30, 2021 and December 31, 2020\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \nCommon A stock, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding as of June 30, 2021 and December 31, 2020\n<\/p>\n<\/td>\n \n50\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n50\n<\/p>\n<\/td>\n<\/tr>\n \nCommon B stock, $0.001 par value, 4,950,000 shares authorized, 3,343,062 and 2,191,633 shares issued and outstanding as of June 30, 2021 and December 31, 2020\n<\/p>\n<\/td>\n \n3,343\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,192\n<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital\n<\/p>\n<\/td>\n \n148,180,750\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n108,949,204\n<\/p>\n<\/td>\n<\/tr>\n \nAccumulated deficit\n<\/p>\n<\/td>\n \n(112,222,296)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(104,380,781)\n<\/p>\n<\/td>\n<\/tr>\n \nTotal stockholders’ equity\n<\/p>\n<\/td>\n \n35,961,847\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,570,665\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities and stockholders’ equity\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n128,072,788\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n76,979,235\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n RumbleOn, Inc.<\/b><\/p>\n Condensed Consolidated Statements of Operations<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Three-Months Ended June 30,<\/b><\/p>\n<\/td>\n Six-Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n \nRevenue:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPre-owned vehicle sales:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPowersports\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n27,978,693\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,382,952\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n38,833,577\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n31,812,355\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAutomotive\n<\/p>\n<\/td>\n \n127,286,568\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n68,294,841\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n211,357,422\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n181,927,108\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTransportation and vehicle logistics\n<\/p>\n<\/td>\n \n13,080,362\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,663,500\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n22,418,633\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14,751,091\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal revenue\n<\/p>\n<\/td>\n \n168,345,623\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n84,341,293\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n272,609,632\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n228,490,554\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCost of revenue\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPowersports\n<\/p>\n<\/td>\n \n21,021,492\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,528,810\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n28,897,883\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n28,085,447\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAutomotive\n<\/p>\n<\/td>\n \n117,117,721\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n62,493,015\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n194,977,530\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n170,572,680\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTransportation\n<\/p>\n<\/td>\n \n10,695,165\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,862,734\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18,044,506\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,950,792\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCost of revenue before impairment loss\n<\/p>\n<\/td>\n \n148,834,378\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n75,884,559\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n241,919,919\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n209,608,919\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nImpairment loss on automotive inventory\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,738,413\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal cost of revenue\n<\/p>\n<\/td>\n \n148,834,378\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n75,884,559\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n241,919,919\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n221,347,332\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nGross profit\n<\/p>\n<\/td>\n \n19,511,245\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,456,734\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n30,689,713\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,143,222\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative\n<\/p>\n<\/td>\n \n18,113,151\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,174,287\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31,514,495\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29,230,714\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInsurance recovery\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(5,615,268\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(5,615,268\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization\n<\/p>\n<\/td>\n \n631,828\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n508,323\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,231,066\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,031,317\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nOperating income (loss)\n<\/p>\n<\/td>\n \n766,266\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,389,392\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,055,848\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(17,503,541\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest expense\n<\/p>\n<\/td>\n \n(1,920,525\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(1,482,408\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(3,529,345\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(3,699,166\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nChange in derivative liability\n<\/p>\n<\/td>\n \n(2,235,670\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n137,488\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,256,322\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n20,673\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nGain on early extinguishment of debt\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n188,164\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLoss before provision for income taxes\n<\/p>\n<\/td>\n \n(3,389,929\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n1,044,472\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(7,841,515\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(20,993,870\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBenefit for income taxes\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(3,389,929\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,044,472\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(7,841,515\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(20,993,870\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nWeighted average number of common shares outstanding – basic and fully diluted\n<\/p>\n<\/td>\n \n3,242,616\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,214,241\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,242,616\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,130,332\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet income (loss) per share – basic and fully diluted\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(1.05\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.47\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(2.42\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(9.85\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n RumbleOn, Inc.<\/b><\/p>\n Condensed Consolidated Statements of Cash Flows<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Six-Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n \nCASH FLOWS FROM OPERATING ACTIVITIES\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet loss\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(7,841,515\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(20,993,870\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nAdjustments to reconcile net loss to net cash used in operating activities:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization\n<\/p>\n<\/td>\n \n1,231,066\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,031,317\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAmortization of debt discounts\n<\/p>\n<\/td>\n \n1,150,076\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,051,898\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nShare based compensation\n<\/p>\n<\/td>\n \n2,435,291\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,562,761\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nImpairment loss on inventory\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,738,413\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nImpairment loss on property and equipment\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n177,626\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLoss (gain) from change in value of derivatives\n<\/p>\n<\/td>\n \n2,256,322\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(27,500\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nGain on early extinguishment of debt\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(188,164\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nChanges in operating assets and liabilities:\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(Increase) decrease in prepaid expenses and other current assets\n<\/p>\n<\/td>\n \n(612,680\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n79,154\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nIncrease in inventory\n<\/p>\n<\/td>\n \n1,684,451\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14,154,657\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(Increase) in accounts receivable\n<\/p>\n<\/td>\n \n(17,547,091\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(6,313,321\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n(Increase) decrease in other assets\n<\/p>\n<\/td>\n \n(80,550\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n167,186\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDecrease in accounts payable and accrued liabilities\n<\/p>\n<\/td>\n \n(44,429\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(2,732,098\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nDecrease in other liabilities\n<\/p>\n<\/td>\n \n(217,250\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nIncrease in accrued interest payable\n<\/p>\n<\/td>\n \n121,100\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n869,800\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet cash (used in) provided by operating activities\n<\/p>\n<\/td>\n \n(17,465,209\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n577,859\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCASH FLOWS FROM INVESTING ACTIVITIES\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPurchase of property and equipment\n<\/p>\n<\/td>\n \n(100,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(174,786\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nTechnology development\n<\/p>\n<\/td>\n \n(905,305\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(614,113\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nNet cash used in investing activities\n<\/p>\n<\/td>\n \n(1,005,305\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(788,899\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCASH FLOWS FROM FINANCING ACTIVITIES\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nProceeds from notes payable\n<\/p>\n<\/td>\n \n2,500,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,272,375\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nPayments on notes payable\n<\/p>\n<\/td>\n \n521,744\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet proceeds (payments) from lines of credit\n<\/p>\n<\/td>\n \n3,156,756\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(20,627,794\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nNet Proceeds from sale of common stock\n<\/p>\n<\/td>\n \n36,797,406\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,780,080\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet cash provided by financing activities\n<\/p>\n<\/td>\n \n42,975,906\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,079,681\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNET CHANGE IN CASH\n<\/p>\n<\/td>\n \n24,505,392\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,868,641\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCASH AND RESTRICTED CASH AT BEGINNING OF PERIOD\n<\/p>\n<\/td>\n \n3,515,887\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,726,282\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCASH AND RESTRICTED CASH AT END OF PERIOD\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n28,021,279\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n8,594,923\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n RumbleOn, Inc.<\/b><\/p>\n Reconciliation of Net Income (Loss) to Adjusted EBITDA<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Three-Months Ended Three-Months Ended \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n<\/tr>\n Net income (loss)<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(3,389,929\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1,044,472\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(4,451,586\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n Add back:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest expense (including debt extinguishment)\n<\/p>\n<\/td>\n \n1,920,525\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,482,408\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,608,820\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization\n<\/p>\n<\/td>\n \n631,828\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n508,322\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n599,240\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nIncrease in derivative liability\n<\/p>\n<\/td>\n \n2,235,670\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(137,488\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n20,652\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n EBITDA<\/b><\/p>\n<\/td>\n \n1,398,094\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,897,714\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,222,874\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n Adjustments:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInsurance recovery\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(5,615,268\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNon-cash-stock-based compensation\n<\/p>\n<\/td>\n \n701,275\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n716,391\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,026,216\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAcquisition costs associated with the RideNow Agreement\n<\/p>\n<\/td>\n \n860,048\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,096,653\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nLitigation expenses\n<\/p>\n<\/td>\n \n81,389\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n607,387\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n88,258\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nOther non-reoccurring costs\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n51,387\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n32,985\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n3,040,806\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(1,342,389\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n21,239\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210802005271\/en\/<\/a><\/span><\/p>\n Investor Relations: KEYWORDS:<\/b> United States North America Texas<\/p>\n INDUSTRY KEYWORDS:<\/b> Online Retail Aftermarket Retail Automotive General Automotive Technology Internet<\/p>\n\n
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June 30, 2021<\/b><\/p>\n<\/td>\n\n \n
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December 31, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
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June 30,<\/b><\/p>\n<\/td>\n\u00a0<\/td>\n \n
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March 31<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n <\/p>\n
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The Blueshirt Group
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Hilary Sumnicht
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investors@rumbleon.com
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Source: RumbleOn, Inc\n<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20210802005271\/en\/895496\/3\/2020_Rumble_On_Wordmark.jpg\")
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