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REVENUE AND CONCENTRATIONS
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE AND CONCENTRATIONS REVENUE AND CONCENTRATIONS
Revenue Recognition
Revenue from the sale of vehicle contracts is recognized at a point in time on delivery, transfer of title, and completion of financing arrangements.

Revenue from the sale of parts, accessories, and related service is recognized as services and parts are delivered or as a customer approves elements of the completion of service.

We receive commissions from the sale of insurance and vehicle service contracts to customers. In addition, we arrange financing for customers through various financial institutions and receive commissions. We may be charged back (“charge-backs”) for financing fees, insurance, or vehicle service contract commissions in the event of early termination of the contracts by our customers. Revenue from financing fees and commissions are recorded at the time of the sale of the vehicle and an allowance for future charge-backs is established based on historical operating results and the termination provision of the applicable contracts. The estimates for future chargebacks require judgment by management, and as a result, there is an element of risk associated with these revenue streams.

We have an accrual for charge-backs which totaled $9.0 million and $8.7 million at March 31, 2025 and December 31, 2024, respectively, and is included in accrued expenses and other current liabilities in the accompanying balance sheets.

Revenue by State
Revenue for each state that generated 10% or more of our total revenue was as follows (unaudited):
Three Months Ended March 31,
20252024
Florida48 %44 %
Tennessee11 %10 %
Arizona13 %
<10%

These geographic concentrations increase the exposure to adverse developments related to competition, as well as economic, demographic, weather conditions and natural disasters.
Supplier Concentrations
Suppliers representing 10% or more of our total RV and replacement parts purchases were as follows:

Three Months Ended March 31, 2025
20252024
Thor Industries, Inc.56 %40 %
Winnebago Industries, Inc.19 %29 %
Forest River, Inc.22 %24 %

We are subject to dealer agreements with each manufacturer. The manufacturer is entitled to terminate the dealer agreement if we are in material breach of the agreement’s terms.