Online motorcycle retailer RumbleOn Inc. saw its stock price rise by 20 percent in after-hours trading Thursday after it reported a huge increase in second-quarter revenue.

The Charlotte-based company reported a net loss of $4.7 million, or 36 cents per share, compared to a net loss of $1.9 million, or 19 cents per share in the second quarter of 2017.

However, revenues rose to $13.9 million from $116,522 in the second quarter of 2017 as the company sold 2,013 motorcycles in the quarter, up from 878 in the quarter a year ago.

Both were below analyst estimates. Analysts were expecting a loss of 24 cents, and revenue of $15.2 million in the quarter.

“In the second quarter, we exceeded our prior unit sales guidance and continued to execute on our plan to achieve rapid unit and revenue growth,” said Chief Executive Officer Marshall Chesrown in a statement.

“A surge in demand for cash offers, combined with a reduction in average days to sale and improvements across freight and reconditioning costs, drove record volume, revenue and gross profit in the quarter.”

RumbleOn’s stock price closed Thursday at $6.07, down 5 cents. But in after-hours trading, it rose 20 percent, or $1.23, to $7.30.

The company said it is on track to achieve unit sales in excess of 12,000 for the full year, which would result in a revenue of $100 million for the year.

The average selling price in the quarter was $7,113, down 23 percent from an average selling price of $9,185 in the second quarter a year ago. Harley-Davidson models accounted for 54 percent of sales in the quarter.

The gross margin per unit for the quarter was 11.2 percent, up from 8.6 percent in the second quarter of 2017.

The company, which makes cash offers to owners, plans to offer a consumer-only listing platform later this year.