RideNow Group, Inc.

Group Incorporated Third Quarter 2025 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. And as a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Doreen Makia, VP of Finance. Please go ahead.

Thank you, Operator. Good afternoon, everyone. And thank you for joining us for Rod Now's Third Quarter 2025 Earnings Conference Call. Joining me on the call today are Michael Corteri, Rod Now's Chairman, Chief Executive Officer, and President, and Josh Borsetti, Rod Now's Chief Financial Officer. Our Q3 results are detailed in the press release issued this afternoon, and supplemental information will be available in our third quarter Form 10Q once filed. Before we begin, I would like to remind you The comments made by management during this conference call may contain forward-looking statements, including but not limited to Rod Now's market opportunities and future financial results. All forward-looking statements involve risks and uncertainties, which could affect Rod Now's actual results and cause actual results to differ materially from forward-looking statements made by or on behalf of Rod Now. and important factors that could affect our actual results can be found in our filings with the SEC, which are also available on our investor relations website and at SEC.gov. This conference call also contains time-sensitive information that is accurate only as of the date of this live broadcast, Tuesday, November 4th, 2025. Rod now assumes no obligation to revise or update any forward-looking statement, whether written or oral, to reflect events or circumstances after the date of this conference call, except as required by law. Also, the following discussion contains non-GAAP financial measures. For reconciliation of these non-GAAP financial measures, please refer to our earnings release issued earlier today. Now I'll turn the call over to Michael Korteri.

Good afternoon, everyone, and thank you for joining us for RightNow's third quarter 2025 earnings call. Before I provide an update on our key initiatives, I'd like to welcome Josh Barsetti, our new CFO, to the team. After my remarks, Josh will take you through our Q3 results in detail. At RightNow, we remain laser-focused on improving what we control, approaching our operations with fresh thinking, discipline, and a commitment to serving our customers. I remind our teams every day to stay focused on what we can control within the four walls of our business. When you get the right people in the right place at the right time taking the right actions, good things happen. And while it's still early in our turnaround, that's exactly what we are beginning to see in our results. We are confident that we are taking the right actions which allow us to harness the true earnings power of this company as the sales cycles return positive. Importantly, the momentum we saw in Q2 continued throughout Q3 and now into Q4. We increased gross profit year-over-year, despite the challenges facing our transportation services segment, and delivered improved year-over-year adjusted EBITDA results for the second consecutive quarter. Q3 marked the first quarter in our core power sports segment, where we achieved year-over-year improvement in revenue, new and pre-owned unit sales, and gross profit dollars post-COVID. This combination, coupled with maniacal focus on driving waste out of the operation, led to $12.3 million of adjusted EBITDA for Q3, which is a $5.5 million improvement year over year. As I stated during the Q2 call, we enacted a tactical plan that balanced on near-term initiatives to improve financial performance, and structural changes to reset the strategic direction of the company to drive long-term value creation for our shareholders. The near-term initiatives of getting the right leadership in place, reevaluating the cost structure, and reinstalling a disciplined approach to store performance have progressed nicely to date. By focusing on the highest and most impactful priorities in the near term, We have seen tangible benefits in our operating results as demonstrated by the year-over-year improvement in unit volumes, gross profit, and adjusted EBITDA, despite the loss of business volumes at Wholesale Express. Rest assured, these near-term initiatives are not short-lived or temporary in nature. They are the building blocks of long-term structural changes that will provide lasting benefits and will drive long-term value creation for our shareholders well into the future. Since our last earnings call, we completed our name change to RightNow Group Inc. with our new ticker symbol RDNW on the NASDAQ exchange. This was done in conjunction with the relocation of our corporate headquarters back to Chandler, Arizona, the original and true home of RightNow. We completed the amendment and extension of the term loan agreement. which extended our maturity to September 2027 and lowered our interest rate. We raised 10 million in subordinated debt from related parties. The proceeds combined with cash on hand were used to repay 20 million of outstanding principal owed on the term loan. The combination of the lower interest rate and principal pay down has lowered our annual cash interest by approximately 3.4 million. This reduction now coupled with the Fed's subsequent two interest rate cuts, will increase this annual cash savings to $4.4 million. One of our key initiatives as a new management team taking a clean sheet of paper approach to the business has centered around a 360-degree assessment of our existing store portfolio to identify areas of operational improvement, consolidation, and potential dispositions. Our primary opportunity is around exiting or consolidating consistently unprofitable or smaller locations into larger existing locations. These larger multi-brand stores are true destinations for our customers, which we refer to internally as our aircraft carriers. They are our best performing locations, and we are excited to have opened our 15th aircraft carrier in Fort Worth, Texas during the third quarter. which was the result of the consolidation of two smaller locations in the surrounding area. We've also initiated shutdown procedures of our pre-owned-only store in Houston, Texas. Our team is aligned with clear goals, performance metrics, and a culture of accountability. My conviction in our ability to execute and deliver improved results continues to grow each day. Looking forward, we are poised to deliver even more adjusted EBITDA and increase free cash flow, which we intend to deploy with a discipline of an owner-oriented company. And with that, I'll turn the call over to Josh for a more detailed discussion of the Q3 results.