RideNow Group, Inc.RDNW
RideNow Group, Inc. Segments Disclosure
SEGMENT REPORTING
Business segments are components of an enterprise about which discrete financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) to assess operating performance and allocate resources. Our CODM is our Chairman and CEO. Our operations are organized by management into operating segments by line of business. The CODM evaluates performance and allocates resources based on the segment operating income (loss) of the reportable segment, which excludes impairment charges, loss (gain) on the sale of assets, and amortization and depreciation that are included in operating income (loss) on the consolidated statement of operations and includes floor plan interest expense, which is not included in operating income (loss) on the consolidated statements of operations. Accordingly, the segment operating income is shown below with a reconciliation to operating loss as reported on the consolidated statements of operations. The CODM uses segment operating income in the annual budget and forecasting process and considers budget-to-actual variances on a periodic basis.
We had two reportable segments for 2025 and 2024: (1) powersports dealership group and (2) vehicle transportation services. The powersports dealership group segment is primarily comprised of powersports dealerships that sell new and pre-owned powersports vehicles; parts, service and accessories; and finance and inventory products for powersports vehicles sold. The vehicle transportation services segment, which ceased operations at the end of 2025, provided nationwide transportation brokerage services between dealerships and auctions.
The powersports dealership group segment is significantly larger and requires more investment than our vehicle transportation services segment required. The operating income for the powersports segment includes operating overhead and corporate costs. The most significant costs for both segments are their cost of revenue and compensation-related costs. Assets are not used for purposes of assessing performance or allocating resources and, as a result, such information has not been presented.
| ($ in millions) | Powersports Dealership Group | Vehicle Transportation Services | Unallocated, Eliminations and Adjustments | Total | |||||||||||||||||||
| 2025 | |||||||||||||||||||||||
| Revenue from external customers: | |||||||||||||||||||||||
| Powersports vehicles | $ | 778.8 | $ | — | $ | — | $ | 778.8 | |||||||||||||||
| Parts, service and accessories | 197.8 | — | — | 197.8 | |||||||||||||||||||
| Finance and insurance, net | 97.3 | — | — | 97.3 | |||||||||||||||||||
| Vehicle transportation services | — | 8.6 | — | 8.6 | |||||||||||||||||||
| Total revenue | 1,073.9 | 8.6 | — | 1,082.5 | |||||||||||||||||||
| Cost of revenue: | |||||||||||||||||||||||
| Powersports vehicles | 672.2 | — | — | 672.2 | |||||||||||||||||||
| Parts, service and accessories | 105.5 | — | — | 105.5 | |||||||||||||||||||
| Vehicle transportation services | — | 6.8 | — | 6.8 | |||||||||||||||||||
| Total cost of revenue | 777.7 | 6.8 | — | 784.5 | |||||||||||||||||||
| Gross profit | 296.2 | 1.8 | — | 298.0 | |||||||||||||||||||
| Compensation and related costs | 145.4 | 1.6 | — | 147.0 | |||||||||||||||||||
| Facilities | 45.5 | 0.2 | — | 45.7 | |||||||||||||||||||
Other operating expenses(1) | 62.8 | 0.8 | — | 63.6 | |||||||||||||||||||
| Impairment of intangible assets | — | — | 34.8 | 34.8 | |||||||||||||||||||
| Depreciation and amortization | — | — | 9.0 | 9.0 | |||||||||||||||||||
| Gain on sale of assets | — | — | (1.9) | (1.9) | |||||||||||||||||||
| Floor plan interest expense | 11.0 | — | (11.0) | — | |||||||||||||||||||
| Operating income (loss) | $ | 31.5 | $ | (0.8) | $ | (30.9) | $ | (0.2) | |||||||||||||||
| Floor plan interest expense | 11.0 | ||||||||||||||||||||||
| Other interest expense | 41.5 | ||||||||||||||||||||||
| Other income | (0.6) | ||||||||||||||||||||||
| Loss before income taxes | $ | (52.1) | |||||||||||||||||||||
(1) Other operating expenses represent general and administrative expenses, advertising, professional fees, and stock-based compensation expenses. The detail for such expenses on a consolidated basis is included in Note 11 and is attributable to the Powersports Dealership Group except for $0.8 million that was in Vehicle Transportation Services.
| ($ in millions) | Powersports Dealership Group | Vehicle Transportation Services | Unallocated, Eliminations and Adjustments | Total | |||||||||||||||||||
| 2024 | |||||||||||||||||||||||
| Revenue from external customers: | |||||||||||||||||||||||
| Powersports vehicles | $ | 842.6 | $ | — | $ | — | $ | 842.6 | |||||||||||||||
| Parts, service and accessories | 206.2 | — | — | 206.2 | |||||||||||||||||||
| Finance and insurance, net | 102.4 | — | — | 102.4 | |||||||||||||||||||
| Vehicle transportation services | — | 58.0 | 58.0 | ||||||||||||||||||||
| Total revenue | 1,151.2 | 58.0 | — | 1,209.2 | |||||||||||||||||||
| Cost of revenue: | |||||||||||||||||||||||
| Powersports vehicles | 738.6 | — | — | 738.6 | |||||||||||||||||||
| Parts, service and accessories | 111.7 | — | — | 111.7 | |||||||||||||||||||
| Vehicle transportation services | — | 44.6 | — | 44.6 | |||||||||||||||||||
| Total cost of revenue | 850.3 | 44.6 | — | 894.9 | |||||||||||||||||||
| Gross profit | 300.9 | 13.4 | — | 314.3 | |||||||||||||||||||
| Compensation and related costs | 152.4 | 7.0 | — | 159.4 | |||||||||||||||||||
| Facilities | 45.0 | 0.2 | — | 45.2 | |||||||||||||||||||
Other operating expenses(1) | 70.1 | 0.7 | — | 70.8 | |||||||||||||||||||
| Impairment of franchise rights | — | — | 39.3 | 39.3 | |||||||||||||||||||
| Depreciation and amortization | — | — | 14.3 | 14.3 | |||||||||||||||||||
| Loss on sale of assets | — | — | 0.5 | 0.5 | |||||||||||||||||||
| Floor plan interest expense | 16.0 | — | (16.0) | — | |||||||||||||||||||
| Operating income (loss) | $ | 17.4 | $ | 5.5 | $ | (38.1) | $ | (15.2) | |||||||||||||||
| Floor plan interest expense | 16.0 | ||||||||||||||||||||||
| Other interest expense | 48.1 | ||||||||||||||||||||||
| Other income | (0.5) | ||||||||||||||||||||||
| Loss before income taxes | $ | (78.8) | |||||||||||||||||||||
(1) Other operating expenses represent general and administrative expenses, advertising, professional fees, and stock-based compensation expenses. The detail for such expenses on a consolidated basis is included in Note 11 and is attributable to the Powersports Dealership Group except for $0.7 million that was in Vehicle Transportation Services.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 14, 2025 | |
| 2023 | Mar 28, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Apr 8, 2022 | |
| 2020 | Mar 31, 2021 | |
| 2019 | May 29, 2020 | |
| 2018 | Apr 1, 2019 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.