RumbleOn Inc. (RMBL) Issues Update on CDK Global Cybersecurity Accident

RumbleOn Inc. (NASDAQ: RMBL) uses certain systems hosted by CDK Global (“CDK”), including eLead, a customer relationship management system (“CRM”) and CVR, a system that processes temporary licenses in Florida. CDK has acknowledged that it was impacted by a cyber event on June 19, 2024. The Company has not experienced disruptions to its dealer management system for the powersports segment, which supports critical dealership operations including those supporting sales, inventory and accounting functions. All of the Company’s powersports dealerships are open and operating utilizing, to the extent required, workaround solutions to minimize any disruptions caused by the suspension of certain systems by CDK, including the CRM. In addition, the Company’s vehicle transportation services segment provides brokerage services facilitating automobile transportation primarily between and among dealers, some of which have been impacted by CDK’s suspension of certain systems.

While this incident has had, and is likely to continue to have, a negative impact on the Company’s business operations until the relevant systems are fully restored, the Company does not believe at this time that it is reasonably likely to have a material impact on the Company, including its financial condition or results of operations.

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