Why RumbleON (RMBL) Shares Are Jumping Today - RumbleON (NASDAQ:RMBL)

RumbleON Inc RMBL reported second-quarter FY22 sales growth of 224% year-on-year, to $546.10 million, beating the consensus of $513.59 million.
Total revenue grew 18.7% Q/Q, driven primarily by strength across the powersports segment.
The gross profit rose 31% to $138 million, and the profit margin expanded 240 basis points to 25.3%, both sequentially. Gross profit jumped 608% Y/Y, and the margin expanded by 1,370 bps.
Total unit sales were 23,330 versus 5,711 last year.
The company held $77.7 million in cash and equivalents as of June 30, 2022.
Adjusted EBITDA for the quarter was $44.3 million, and the adjusted EBITDA margin was 8.1%.
Adjusted EPS of $1.20 beat the analyst consensus of $0.90.
Outlook: RumbleON reiterated its FY22 sales outlook of $1.9 billion - $2 billion (consensus $1.93 billion).
It sees FY22 adjusted EBITDA of at least $145 million.
Price Action: RMBL shares are trading higher by 20.55% at $24.64 on the last check Tuesday.

RumbleON Shares Soar On Q2 Earnings Beat