revenue $296.8M, net income $6.5M. RideNow swings to operating income as impairment clears; material weaknesses expand

Filed August 11, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~2 min read

Key Changes

• high

  Operating income swung to $17.9M from a $18.8M loss, driven entirely by the absence of a $34M franchise-rights impairment charge recorded in Q2 2025. Revenue fell 1.0% to $296.8M.

  MD&A: Operating Results verify on EDGAR →
• high

  Material weaknesses expanded from one to two: management turnover and decentralized processes created deficiencies in financial-close controls (journal entries, reconciliations, revenue/AR, inventory, cost of sales).

  Controls & Procedures verify on EDGAR →
• high

  Credit Agreement requires refinancing by Nov 30, 2026, or the company must pay down debt to $150M/3.25x EBITDA or form a special committee to evaluate strategic alternatives including a sale. Failure triggers default.

  MD&A: Liquidity & Notes: Debt verify on EDGAR →