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• Used Car Sales: RideNow (RDNW) primarily engaged in the retail sale of pre-owned automobiles to individual consumers.

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There appears to be a discrepancy in the company name provided. The public company with the stock symbol RDNW is Red White & Bloom Brands Inc., which operates in the legal cannabis industry, not a company primarily associated with "rides" or transportation.

Based on the business activities of Red White & Bloom Brands Inc. (RDNW), the company primarily sells to other businesses (B2B).

Major Customers of Red White & Bloom Brands Inc. (RDNW):

• Licensed Cannabis Dispensaries: Red White & Bloom Brands Inc. is a multi-state cannabis operator that cultivates, manufactures, and distributes a wide range of cannabis products (including brands like Platinum Vape, High Times, and Pura Earth). Its primary customers are licensed cannabis dispensaries across the states in which it operates (e.g., Michigan, California, Arizona, Florida, Massachusetts). These dispensaries purchase RDNW's branded products for resale to individual consumers.

Due to the fragmented nature of the cannabis retail market and the company's widespread distribution to hundreds of individual licensed dispensaries, it is not publicly disclosed or typical to identify specific "major public company customers" of RDNW in the traditional sense. Many of these dispensaries are privately owned or are part of smaller, regional chains. While RDNW may have strategic partnerships or sell to dispensaries that are ultimately owned by larger public Multi-State Operators (MSOs), these are generally not listed as direct, major B2B customers with their symbols in the same way a traditional supplier to a major retailer would identify them.

Red White & Bloom Brands Inc. may also engage in direct-to-consumer sales through its own or partner-operated retail dispensaries, but its core business model as a "house of brands" and multi-state distributor emphasizes wholesale to the broader network of licensed retail dispensaries.

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Michael Quartieri, Chairman of the Board, Chief Executive Officer, and President

Michael Quartieri was appointed Chief Executive Officer and President on January 13, 2025, and previously served as Interim Chief Financial Officer from April 2025 to October 2025. He joined the company's Board on April 16, 2024, and became Chairman of the Board on November 19, 2024. Prior to his current role, Mr. Quartieri served as the Senior Vice President and Chief Financial Officer of Dave & Buster's Entertainment, Inc. from January 2022 to June 2024. His extensive background also includes executive positions at LiveOne, Inc., Scientific Games Corporation, and Las Vegas Sands, Corp. Mr. Quartieri holds a B.S. in Accounting and a M. Acc. from the University of Southern California and is a Certified Public Accountant.

Joshua J. Barsetti, Executive Vice President and Chief Financial Officer

Joshua J. Barsetti was appointed Executive Vice President and Chief Financial Officer on October 20, 2025. Before joining RideNow, he was the Vice President, Corporate Controller, and Principal Accounting Officer of Buyerlink Inc. from January 1, 2025, to October 17, 2025. From January 2022 to December 2024, he held the same role at AutoWeb, Inc. (Nasdaq: AUTO). Mr. Barsetti also served as Chief Audit Executive and Director of SOX and Internal Control for Zovio Inc. (Nasdaq: ZVO). His experience further includes leadership positions at Cavco Industries, Inc. (Nasdaq: CVCO), Universal Technical Institute, Inc. (NYSE: UTI), and Viad Corp (NYSE: VVI). He is a Certified Public Accountant and holds a Bachelor of Science in Accounting from Northern Arizona University.

Cameron Tkach, Executive Vice President and Chief Operating Officer

Cameron Tkach serves as the Executive Vice President and Chief Operating Officer. He possesses over 15 years of experience in the powersports industry, having grown up in a dealership environment. Mr. Tkach advanced through various operational roles at RideNow Powersports, including Sales Manager, Finance Manager, General Manager, and Operations Director. Following RumbleOn's acquisition of RideNow in 2021, he continued to hold significant leadership positions, such as Vice President of Retail Operations, where he focused on optimizing retail performance and customer experience.

Melissa Bengtson, Executive Vice President, Chief Legal Officer, and Secretary

Melissa Bengtson was appointed Executive Vice President, Chief Legal Officer, and Secretary on April 14, 2025. Prior to this role, she was the Senior Vice President, Chief of Corporate and Governance Affairs, and Secretary at Fanatics Holdings, Inc. from February 2022 to April 2025. Ms. Bengtson also served as Senior Vice President, Deputy General Counsel at Light & Wonder, Inc. (Nasdaq: LNW) from November 2017 to February 2022. Her career also includes working as a Corporate & Securities Partner at DLA Piper LLP (US) and other international law firms. She holds a J.D. from the Sandra Day O'Connor College of Law at Arizona State University, an M.B.A. from Northern Arizona University, and a B.A. in Business Management and Accounting from Alverno College.

Bill Coulter, Director

Bill Coulter is a Director and co-founded RideNow in 1989 with Mark Tkach. Together, they expanded the RideNow group to more than 40 stores across eight states, making it the largest powersports dealer group in the United States by the time RumbleOn acquired it in 2021. Mr. Coulter was responsible for overseeing RideNow's financial and growth strategies and advised the group's senior management. With over 50 years of experience in auto dealerships, he continues to own several award-winning auto dealerships in Arizona.

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1. High Debt and Liquidity Concerns: RideNow carries a significant debt burden, largely stemming from its 2021 acquisition of RumbleOn, with total debt remaining high at $458.6 million as of June 30, 2025. The company's cash reserves fell sharply, and liquidity and leverage are primary concerns. While some debt maturities have been extended, the high debt level continues to pose a substantial risk to the business.
2. Declining Sales and Macroeconomic Headwinds: The company has experienced a decline in new vehicle sales, leading to shrinking total revenue and negative earnings per share. Macroeconomic factors, including high interest rates, are explicitly identified as threats to sales and overall profitability. This recurring weakness in new vehicle sales is a major obstacle to increasing the company's revenues.
3. Material Weaknesses in Internal Controls and Legal/Regulatory Issues: RideNow has identified and disclosed material weaknesses in its internal controls over financial reporting (ICOFR) for recent periods, including the year ended December 31, 2023. Furthermore, the company faces an ongoing SEC inquiry and active litigation, which could result in reputational damage, disclosure challenges, and remediation costs.

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The primary business segment for RideNow Group, Inc. is its Powersports segment, which includes the sale of new and pre-owned powersports vehicles (such as motorcycles, ATVs, UTVs, personal watercraft, and snowmobiles), along with parts, apparel, accessories, finance and insurance products, and repair and maintenance services.

The total addressable market for the powersports industry in the United States is estimated to be in excess of $100 billion. This figure includes the significant peer-to-peer market for used powersports vehicles, which RumbleOn (the company formerly known as RideNow Group, Inc.) believed represented up to 70% of used powersports transactions.

Globally, the powersports sector was valued at $38 billion as of August 2025, with projections to reach $69 billion by 2034. The North American market, where RideNow operates, accounts for nearly half of this global value.

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RideNow Group (NASDAQ: RDNW) anticipates future revenue growth over the next 2-3 years to be driven by several key factors:

1. Sustained Growth in Powersports Unit Sales and Enhanced Gross Margins: The company has demonstrated a return to year-over-year growth in its powersports segment, including increased major unit sales and improved gross margins for both new and pre-owned vehicles. This trend is expected to continue contributing to overall revenue expansion. For example, the powersports group's revenue saw a slight increase in Q3 2025, marking the first year-over-year improvement since Q2 2023, with total major unit sales up 3.9% and gross margins improving for both new and pre-owned units.
2. Expansion of High-Margin Fixed Operations and Finance & Insurance (F&I) Offerings: RideNow emphasizes its integrated offerings in parts, apparel, accessories, and aftermarket products, as well as finance and insurance services, as crucial for driving recurring revenue and customer loyalty. These segments consistently contribute significant revenue and enhance overall profitability. In Q3 2025, fixed operations generated $50.8 million in revenue, while finance and insurance teams delivered $24.9 million in revenue.
3. Strategic Expansion and Optimization of the Dealership Network: The company is focused on optimizing its physical footprint, including the development of larger, multi-brand "aircraft carrier" locations and the rationalization of underperforming stores. This strategic approach aims to leverage scale and deep manufacturer relationships to command market leadership and drive sales growth. RideNow reported opening its 15th 'aircraft carrier' location in Fort Worth, Texas, in Q3 2025.
4. Leveraging Proprietary Technology for Pre-Owned Vehicle Sourcing: RideNow utilizes its "RideNow Cash Offer" technology to efficiently source high-quality pre-owned powersports vehicles directly from consumers. This proprietary technology is vital for maintaining a robust inventory of profitable pre-owned units, which is a significant component of their powersports sales.

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Share Repurchases

• RideNow Group's 6-Month Share Buyback Ratio was -0.71%, suggesting no significant share repurchases over that period.

Share Issuance

• The number of shares outstanding for RideNow Group increased by 17.61% in one year.
• Class B Common Stock outstanding increased from approximately 16.14 million shares on November 8, 2022, to about 35.27 million shares on July 30, 2024.

Inbound Investments

• On August 25, 2025, RideNow Group, Inc. issued unsecured subordinated promissory notes totaling approximately $10.0 million to three lenders to prepay outstanding principal under its senior term loan.

Outbound Investments

• Cash acquisitions by the company totaled approximately $371.31 million in Fiscal Year 2021, $69.6 million in Fiscal Year 2022, $3.3 million in Fiscal Year 2023, and $0.7 million in Fiscal Year 2024.
• Net cash used in investing activities in the first half of 2024 was lower primarily due to fewer purchases of property and equipment and because a powersports dealership in Florida was purchased in the prior year (2023).

Capital Expenditures

• Capital expenditures were approximately -$5.4 million in the last 12 months ending September 2025, -$2 million in Fiscal Year 2024, and -$13.7 million in Fiscal Year 2023.
• For the six months ended June 30, 2024, capital expenditures included $1.0 million for the purchase of property and equipment and $0.4 million for technology development.
• The company's investing activities, including capital expenditures, are primarily to support and expand its operations.