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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 337M | 9.4% |
| Gross Profit | 90M | 8.8% |
| Cost of Revenue | 247M | 9.6% |
| Operating expense | 71M | 7.8% |
| Net Income | -700,000 | 93.2% |
| EBITDA | 3M | 66.7% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 896M | 0.3% |
| Total Liabilities | 803M | 0.4% |
| Total Equity | 93M | 0.8% |
| Shares Outstanding | 35M | 0.2% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 3.8M | 26.7% |
| Cash from investing | -300,000 | 72.7% |
| Cash from financing | -18M | 17.4% |
EPS
Financial Highlights for RumbleON in Q2 '24
RumbleON reported a revenue of 337M, which is a 9.4% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 90M, marking a 8.8% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 247M, a 9.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 71M, showing a -7.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -700,000, showing a 93.2% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 3M, showing a -66.7% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for RumbleON with growth in revenue, gross profit, and net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures. A decline in EBITDA signals potential operational challenges or increased costs.
