RideNow Group Q4 Revenue Drops 4.7% as Adjusted EBITDA Rises 341%
RideNow Group’s Q4 2025 revenue dropped to $256.9 million from $269.6 million a year earlier as Wholesale Express wind-down weighed on sales. Adjusted EBITDA soared 341% to $9.7 million, new unit gross margins climbed to 13.2% from 10.8%, while operating cash flow fell to $15.9 million.
1. Q4 Financial Results
RideNow Group reported Q4 2025 revenue of $256.9 million, down from $269.6 million a year earlier, primarily due to the wind-down of Wholesale Express. Adjusted EBITDA increased 341% to $9.7 million, while new unit gross margins rose to 13.2% from 10.8%.
2. Cash Flow and Store Closures
Operating cash inflows dropped to $15.9 million for the year ended December 31, 2025, compared to $99.4 million in 2024. The company closed three stores, including two in Southern California and a used-only location in Houston, aiming to improve profitability and streamline operations.
3. Refinancing Outlook and Inventory
Improved macroeconomic conditions and operational momentum position RideNow to pursue term loan refinancing on favorable terms. Inventory levels remain healthy, with most units turning in under four months, reducing the need for aggressive discounting.