revenue $260.4M, net income -$4.3M. RideNow revenue up 6.4% on higher unit sales; material weaknesses expand, SEC probe closed

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  Material weaknesses expanded from IT access issues to include financial close, revenue, inventory, and transaction accounting deficiencies driven by management turnover in accounting and finance departments.

  Controls & Procedures verify on EDGAR →
• high

  SEC investigation into related party transactions and former CEO resource usage closed with no enforcement action recommended, removing regulatory overhang.

  Legal Proceedings verify on EDGAR →
• high

  New tariff regimes and elevated interest rates pose material risks: sustained tariff increases could compress margins or reduce demand, while higher rates shift product mix toward lower-priced units and increase floorplan costs.

  MD&A: Risk Factors verify on EDGAR →