RideNow Group, Inc. (NASDAQ: RDNW) reported fourth quarter and full year 2025 financial results on March 9, 2026, revealing a complex picture of recovery and restructuring for the powersports retailer. While adjusted EBITDA increased significantly, the company continues to grapple with revenue declines and substantial net losses.
For the fourth quarter of 2025, RideNow’s powersports revenue reached $256.1 million, with same-store revenue increasing by 6.3%. Adjusted EBITDA for the quarter rose to $9.7 million, a 341% increase compared to $2.2 million in the same period of 2024. Though, the company still reported a net loss of $6.4 million for the quarter.
Full-year revenue for 2025 totaled $1,082.5 million, a decrease of 10.5% year-over-year. Despite the revenue decline, adjusted EBITDA for the full year increased by 40.4% to $46.2 million. The net loss for the year narrowed to $52.4 million, representing a 33.3% improvement over 2024. According to Chairman, Chief Executive Officer and President Michael Quartieri, the results demonstrate progress in the company’s “back to our roots” strategy.
RideNow’s financial position at the end of 2025 included $29.5 million in unrestricted cash and $207.6 million in long-term debt. The company also announced the cessation of vehicle transportation services, effective December 31, 2025. Operating cash flow fell significantly, decreasing 84% to $15.9 million in 2025, and unrestricted cash decreased by 65.4% to $29.5 million.
The earnings call, held on March 9, 2026, featured Michael Quartieri, RideNow’s Chairman, Chief Executive Officer and President, and Joshua Barsetti, the company’s Chief Financial Officer. Jerene Makia, VP of Finance, also participated in the call. The company’s Q4 and full year results are detailed in a press release, with supplemental information expected to be available in their Form 10-K filing.
RideNow’s powersports gross profit increased by 10.1% in the fourth quarter to $70.7 million. The company did not provide a specific explanation for the revenue decline during the earnings call, but highlighted the growth in same-store revenue and unit volume as positive indicators.
