RideNow Group, Inc. (RDNW) Income Statement
RDNW 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRDNW revenue and net income
Where RDNW's revenue goes
2025Each bar shows an amount and its share of revenue. RDNW kept −4.8% of revenue as net income.
RDNW profit margins
RDNW growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −10.5% | −9.5% | +21.1% | — |
| Gross profit | −8.0% | −13.2% | +55.7% | — |
| Operating income | — | −20.7% | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RDNW quarterly EPS vs estimates
RideNow beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 3, 2026.
RDNW income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.21B | $1.37B | $1.46B | $934.7M | $416.4M | $840.6M | $156.4M | $7.3M | $0 |
| Cost of revenue | $793.5M | $894.9M | $1.01B | $1.34B | $776.6M | $384.8M | $790.0M | $143.8M | $7.0M | $1,900 |
| Gross profit | $289.0M | $314.3M | $359.9M | $441.7M | $158.2M | $31.6M | $50.6M | $12.6M | $278,109 | −$1,900 |
| Research & development | $1.6M | $1.8M | $5.2M | $3.4M | $2.0M | $1.4M | $2.4M | $1.2M | $452,957 | — |
| Sales, general & admin | $254.7M | $273.6M | $342.1M | $351.2M | $162.1M | $52.2M | $84.2M | $33.9M | $7.1M | $210,701 |
| Total operating expenses | $256.3M | $329.0M | $429.4M | $701.8M | $167.0M | $55.8M | $88.4M | $36.0M | $8.3M | $212,601 |
| Operating income | $32.7M | −$14.7M | −$69.5M | $65.5M | −$12.9M | −$24.2M | −$37.8M | −$23.4M | −$8.0M | −$213,393 |
| Interest expense | $52.5M | $64.1M | $77.2M | $52.1M | $16.4M | $6.5M | $7.2M | $1.8M | $595,966 | $11,698 |
| Income before taxes | −$52.1M | −$78.8M | −$155.1M | −$305.5M | −$31.4M | −$25.0M | −$45.2M | −$25.2M | −$8.6M | −$225,091 |
| Income taxes | $300,000 | −$200,000 | $59.3M | −$72.0M | −$21.7M | $6.6M | $7.2M | — | — | −$513 |
| Net income | −$52.4M | −$78.6M | −$215.5M | −$261.5M | −$9.7M | −$25.0M | −$52.4M | −$25.2M | −$8.6M | −$224,578 |
| EBITDA | $41.7M | $38.9M | −$55.9M | $88.5M | −$8.9M | −$16.2M | −$36.2M | −$22.4M | −$7.3M | −$211,493 |
| EPS (diluted) | −$1.39 | −$2.14 | −$8.45 | $1.59 | −$1.05 | −$13.11 | −$34.40 | −$32.63 | −$16.51 | −$0.70 |
| Gross margin | 26.7% | 26.0% | 26.3% | 30.3% | 16.9% | 7.6% | 6.0% | 8.1% | 3.8% | — |
| Operating margin | 3.0% | −1.2% | −5.1% | 4.5% | −1.4% | −5.8% | −4.5% | −15.0% | −109.2% | — |
| Net margin | −4.8% | −6.5% | −15.8% | −17.9% | −1.0% | −6.0% | −6.2% | −16.1% | −117.3% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $296.8M | $260.4M | $256.9M | $281.0M | $299.9M | $244.7M | $269.6M | $295.0M | $336.8M | $307.8M | $311.1M | $338.1M |
| Cost of revenue | $212.0M | $188.8M | $188.5M | $205.0M | $216.0M | $177.5M | $202.1M | $220.7M | $246.9M | $228.7M | $244.7M | $246.2M |
| Gross profit | $84.8M | $71.6M | $68.4M | $76.0M | $83.9M | $67.2M | $67.5M | $74.3M | $89.9M | $79.1M | $66.4M | $91.9M |
| Research & development | — | $200,000 | — | $400,000 | $400,000 | $400,000 | $800,000 | $500,000 | $300,000 | $500,000 | $1.3M | $1.4M |
| Sales, general & admin | $65.0M | $61.9M | $62.5M | — | $66.7M | $60.7M | $62.4M | $65.9M | $71.1M | $73.4M | $74.4M | $85.0M |
| Total operating expenses | $65.0M | $62.1M | $64.1M | $66.6M | $102.7M | $63.4M | $108.1M | $69.0M | $74.5M | $73.9M | $75.7M | $85.0M |
| Operating income | $17.9M | $7.6M | $4.3M | $9.4M | −$18.8M | $3.8M | −$40.6M | $5.3M | $15.4M | $5.2M | −$9.3M | −$287,000 |
| Interest income | — | — | — | — | — | $100,000 | — | $400,000 | — | — | — | — |
| Interest expense | $2.3M | $11.7M | $11.9M | $3.1M | $13.5M | $13.7M | $15.7M | $17.0M | $16.2M | $16.1M | $21.4M | $19.8M |
| Income before taxes | $6.6M | −$4.2M | −$6.4M | −$4.0M | −$32.1M | −$9.6M | −$56.2M | −$11.2M | −$800,000 | −$10.6M | −$99.4M | −$20.0M |
| Income taxes | $100,000 | $100,000 | — | $100,000 | $100,000 | $100,000 | $200,000 | — | −$100,000 | −$300,000 | $69.0M | −$3.6M |
| Net income | $6.5M | −$4.3M | −$6.4M | −$4.1M | −$32.2M | −$9.7M | −$56.4M | −$11.2M | −$700,000 | −$10.3M | −$168.5M | −$16.5M |
| EBITDA | $6.2M | $9.5M | $6.8M | $1.3M | −$16.6M | $6.3M | $2.8M | $8.9M | $18.5M | $8.7M | −$73.2M | $7.1M |
| EPS (diluted) | $0.16 | −$0.11 | −$0.17 | −$0.11 | −$0.85 | −$0.26 | −$1.58 | −$0.27 | −$0.03 | −$0.26 | −$7.81 | −$0.71 |
| Gross margin | 28.6% | 27.5% | 26.6% | 27.0% | 28.0% | 27.5% | 25.0% | 25.2% | 26.7% | 25.7% | 21.3% | 27.2% |
| Operating margin | 6.0% | 2.9% | 1.7% | 3.3% | −6.3% | 1.6% | −15.1% | 1.8% | 4.6% | 1.7% | −3.0% | −0.1% |
| Net margin | 2.2% | −1.7% | −2.5% | −1.5% | −10.7% | −4.0% | −20.9% | −3.8% | −0.2% | −3.3% | −54.2% | −4.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RDNW's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RDNW financial results
In fiscal year 2025 (ended December 31, 2025), RideNow reported revenue of $1.1 billion, down 10.5% from the year before. It had a net loss of $52.4 million, a net profit margin of −4.8%. Diluted earnings per share came to −$1.39. Over five years revenue grew at an average rate of 21.1% a year.
See the RDNW stock overview for the latest quote and news, or the RDNW chart for price history and technical indicators.
RDNW income statement FAQ
What is RideNow's annual revenue?
RideNow reported total revenue of $1.1 billion for fiscal year 2025, which ended on December 31, 2025. That was down 10.5% from $1.2 billion the previous year.
Is RideNow profitable?
No. RideNow reported a net loss of $52.4 million in fiscal 2025, a net profit margin of −4.8%; its operating margin was 3.0%.
What is RideNow's gross margin?
RideNow's gross margin was 26.7% in fiscal 2025: for every $100 of revenue, RideNow kept $27 after the direct cost of its products and services.
How much does RideNow spend on research and development?
RideNow spent $1.6 million on research and development in fiscal 2025, 0.1% of revenue.
How fast is RideNow growing?
Revenue grew 21.1% a year on average over the last five fiscal years, from $416.4 million to $1.1 billion.
What are RideNow's earnings per share?
RideNow earned $-1.39 per diluted share in fiscal 2025, compared with $-2.14 a year earlier.
When will RideNow report its next earnings?
RideNow is expected to report results for the quarter ending September 30, 2026 on November 3, 2026.
When does RideNow's fiscal year end?
RideNow's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.