v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Business segments are components of an enterprise about which discrete financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) to assess operating performance and allocate resources. The Company’s CODM is its Chairman, Chief Executive Officer and President.
Through December 31, 2025, the Company’s operations were organized into two reportable segments: (1) a powersports dealership group and (2) vehicle transportation services. The Company ceased its vehicle transportation operations at the end of 2025, which was not considered a discontinued operation. As a result, effective January 1, 2026, the Company began operating as a single operating and reportable segment.
The CODM manages the powersports segment on a consolidated basis and evaluates performance and allocates resources based on consolidated net income (loss) as reported on the Unaudited Condensed Consolidated Statements of Operations. Accordingly, the CODM uses consolidated net income (loss) in the annual budget and forecasting process and considers budget-to-actual variances on a periodic basis.
($ in millions)Powersports Dealership Group
Three Months Ended June 30, 2026
Revenue$296.8 
Cost of revenue212.0 
Compensation and related costs38.7 
Facilities10.8 
Other operating expenses(1)
15.5 
Depreciation and amortization1.9 
Floor plan interest expense2.3 
Other interest expense9.0 
Income tax expense0.1 
Net income$6.5 
(1) Other operating expenses represent general and administrative expenses, advertising, professional fees and stock-based compensation expenses. The detail for these expenses on a consolidated basis is in Note 7 and is attributable to the Powersports Dealership Group.
($ in millions)Powersports Dealership GroupVehicle Transportation ServicesUnallocated and AdjustmentsTotal
Three Months Ended June 30, 2025
Revenue:
Powersports vehicles$219.0 $— $— $219.0 
Parts, service and accessories52.4 — — 52.4 
Finance and insurance, net27.2 — — 27.2 
Vehicle transportation services— 1.3 — 1.3 
Total revenue298.6 1.3 — 299.9 
Cost of revenue:
Powersports vehicles187.4 — — 187.4 
Parts, service and accessories27.5 — — 27.5 
Vehicle transportation services— 1.1 — 1.1 
Total cost of revenue214.9 1.1 — 216.0 
Gross profit83.7 0.2 — 83.9 
Compensation and related costs38.7 0.4 — 39.1 
Facilities11.3 — — 11.3 
Other operating expenses(1)
16.1 0.2 — 16.3 
Impairment of franchise rights— — 34.0 34.0 
Depreciation and amortization— — 2.0 2.0 
Floor plan interest expense2.6 — (2.6)— 
Operating income (loss)15.0 (0.4)(33.4)(18.8)
Floor plan interest expense2.6 
Other interest expense10.9 
Other expense(0.2)
Loss before income taxes$(32.1)
(1) Other operating expenses represent general and administrative expenses, advertising, professional fees and stock-based compensation expenses. The detail for these expenses on a consolidated basis is in Note 7 and is attributable to the Powersports Dealership Group.
($ in millions)Powersports Dealership Group
Six Months Ended June 30, 2026
Revenue$557.2 
Cost of revenue400.8 
Compensation and related costs75.8 
Facilities21.0 
Other operating expenses(1)
30.3 
Depreciation and amortization3.8 
Floor plan interest expense4.7 
Other interest expense18.4 
Other income (expense)0.1 
Income tax expense0.1 
Net income$2.2 
(1) Other operating expenses represent general and administrative expenses, advertising, professional fees and stock-based compensation expenses. The detail for these expenses on a consolidated basis is in Note 7 and is attributable to the Powersports Dealership Group.
($ in millions)Powersports Dealership GroupVehicle Transportation ServicesUnallocated and AdjustmentsTotal
Six Months Ended June 30, 2025
Revenue:
Powersports vehicles$391.0 $— $— $391.0 
Parts, service and accessories98.5 — — 98.5 
Finance and insurance, net48.3 — — 48.3 
Vehicle transportation services— 6.8 — 6.8 
Total revenue537.8 6.8 — 544.6 
Cost of revenue:
Powersports vehicles335.2 — — 335.2 
Parts, service and accessories52.8 — — 52.8 
Vehicle transportation services— 5.5 — 5.5 
Total cost of revenue388.0 5.5 — 393.5 
Gross profit149.8 1.3 — 151.1 
Compensation and related costs71.9 1.2 — 73.1 
Facilities22.4 0.1 — 22.5 
Other operating expenses(1)
31.9 0.3 — 32.2 
Impairment of franchise rights— — 34.0 34.0 
Depreciation and amortization— — 4.3 4.3 
Floor plan interest expense5.4 — (5.4)— 
Operating income (loss)18.2 (0.3)(32.9)(15.0)
Floor plan interest expense5.4 
Other interest expense21.7 
Other expense(0.4)
Loss before income taxes$(41.7)
(1) Other operating expenses represent general and administrative expenses, advertising, professional fees and stock-based compensation expenses. The detail for these expenses on a consolidated basis is in Note 7 and is attributable to the Powersports Dealership Group.