RideNow Group (RDNW) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 13.1% YoY to $244.3M, gross profit fell 13.8% to $65.5M, net loss widened to $13.9M from $4.1M, and Adjusted EBITDA declined to $5.3M from $12.3M.

• Clear Price’s August rollout and cautious discretionary spending pressured retail volume; management cited Clear Price for ~$4M of the $7M YoY Adjusted EBITDA decline.

• Management reported a Q4 rebound and expects Q4 Adjusted EBITDA to exceed Q3, despite typical seasonality.

Financial highlights

• Q3 operating income fell to $4.2M from $9.4M; diluted loss per share was $0.36 versus $0.11.

• Nine-month revenue was $801.5M versus $825.6M; net loss narrowed to $11.7M from $46.0M, including a prior-year $34.0M franchise-rights impairment.

• Nine-month operating income was $29.7M versus an operating loss of $5.6M; diluted loss per share was $0.30 versus $1.21.

• Q3 SG&A declined $4.8M to $59.6M; Adjusted SG&A was $57.7M, down $3.8M YoY.

• Inventory was $329.2M at Sept. 30, 2026, versus $257.4M at Dec. 31, 2025.

Outlook and guidance

• Q4 Adjusted EBITDA is expected to exceed Q3 as retail activity rebounds and customer awareness of Clear Price grows.

• Cost reductions delivered $4.6M in annualized savings during Q3; targeted incremental permanent savings are $10M run rate exiting 2027.

• Current cash and expected operating cash generation are assessed as sufficient for ordinary needs for at least 12 months, though additional financing may be needed.