RideNow Group Reports Turnaround Progress in Q4 2025

Powersports retailer sees sharp rise in adjusted EBITDA and improved same-store metrics despite exiting transportation business

Published on Mar. 9, 2026

Got story updates? Submit your updates here. ›

RideNow Group (NASDAQ:RDNW) executives reported that the company's turnaround efforts gained traction in the fourth quarter of 2025, with a 341% jump in adjusted EBITDA and improved same-store revenue, gross profit, and unit sales, even as the company exited its transportation business, Wholesale Express.

Why it matters

RideNow's strong Q4 results demonstrate the company's ability to execute its turnaround plan and focus on its core powersports retail operations, which could position it for potential refinancing and a return to acquisition-driven growth in 2026.

The details

RideNow reported Q4 2025 revenue of $256.9 million, down from $269.6 million a year earlier due to the expected reduction in Wholesale Express. Excluding Wholesale Express, revenue was flat year-over-year. Adjusted EBITDA increased 341% to $9.7 million, up from $2.2 million in the prior-year quarter. The company sold 15,642 major units in the quarter, up 1.9% from a year earlier, with new powersports sales down 2.9% but pre-owned sales rising 5.1%. Gross margins improved in both new and pre-owned categories.

  • RideNow sold two locations in Southern California in Q4 2025.
  • In Tucson, RideNow consolidated an Indian store into a neighboring RideNow location and combined two Harley-Davidson locations 'under one roof' in Q4 2025.
  • RideNow closed stores in Sturgis, Cincinnati, and a used-only store in Houston earlier in 2025.

The players

Michael Quartieri

Chairman, CEO and President of RideNow Group.

Josh Barsetti

Chief Financial Officer of RideNow Group.

RideNow Group

A leading U.S. retailer of powersports vehicles, offering both new and pre-owned inventory to enthusiasts and recreational riders.

Wholesale Express

RideNow's transportation business that was shut down as of the end of December 2025 so the company could focus fully on the powersports segment.

Got photos? Submit your photos here. ›

What they’re saying

“We must remain laser-focused on actions within our control, including putting the right leadership in place, tightening execution in stores, and improving back-office support.”

— Michael Quartieri, Chairman, CEO and President (marketbeat.com)

“The fourth quarter marked the second consecutive quarter of same-store growth in revenue and units sold and the third consecutive quarter of same-store growth in gross profit.”

— Josh Barsetti, Chief Financial Officer (marketbeat.com)

What’s next

RideNow expects momentum to continue into the first quarter of 2026 as the macro environment improves, which could help position the company for a potential refinancing of its term loan. The company also intends to increase free cash flow and deploy capital with 'owner-oriented' discipline, and is positioned to return to acquisition-driven growth in 2026 alongside operational improvements.

The takeaway

RideNow's strong Q4 2025 results, marked by a sharp rise in adjusted EBITDA and improved same-store metrics, demonstrate the company's ability to execute its turnaround plan and focus on its core powersports retail operations, positioning it for potential refinancing and a return to growth in 2026.