Off The Hook Ys Q2 Earnings Call Highlights

Record second-quarter performance: Revenue rose 88.4% year over year to $59.1 million, while unit sales increased more than 138% to 255 boats. Gross profit doubled to $9.5 million, with pre-owned boat margins improving to 15.0%. Expansion and new revenue opportunities: The five-year MarineMax partnership will connect trade-ins with Off The Hook Ys’ valuation, wholesale, financing and insurance platforms. The company also added brokers, expanded facilities through acquisitions and plans to launch a high-margin warranty business. 2026 outlook remains unchanged: Management maintained full-year revenue guidance of $165 million to $170 million and said it returned to adjusted EBITDA profitability in the second quarter. Executives are focused on improving margins and operating leverage while managing higher labor, marketing, inventory and integration costs.

Off The Hook Ys NYSEAMERICAN: NXB reported record second-quarter revenue and unit sales as the pre-owned boat platform expanded its broker network, added marine-service facilities and signed a five-year strategic partnership with MarineMax. For the quarter ended June 30, 2026, revenue rose 88.4% to $59.1 million from $31.3 million a year earlier, Chief Financial Officer Chad Corbin said. The company sold 255 boats during the quarter, an increase of more than 138% year over year, according to Chief Executive Officer Brian John.

Management maintained full-year 2026 revenue guidance of $165 million to $170 million while emphasizing margin improvement and profitability during the second half of the year.

Pre-owned boat sales increased 69.5% to $45 million in the second quarter, while new-boat sales rose 189.3% to $10.9 million. Corbin attributed the increase in new-boat sales primarily to boat lines obtained through the acquisitions of Apex Marine and BellHart. The company sold about 230 pre-owned units during the quarter, compared with about 112 in the prior-year period. Average revenue per pre-owned inventory boat sale was approximately $381,566, down from approximately $400,302 a year earlier. Corbin said the company sells a broad mix of boat brands, sizes and transaction types, which can result in periodic and seasonal changes in average sales prices.

Gross profit doubled to $9.5 million from $4.8 million. Pre-owned boat gross profit increased 81.1% to $6.7 million, and the associated gross margin improved to 15.0% from 13.9%. Corbin cited greater transaction volume, growth in service and financial-product businesses, and purchasing decisions involving used inventory as contributors to the margin improvement. Revenue from financing products, including financing, insurance and extended warranty contracts arranged through third parties, increased 66.7% to $1 million. Service, parts and other sales rose 465.6% to $2.2 million, reflecting the Apex Marine and BellHart acquisitions.

John highlighted a five-year strategic agreement with MarineMax, signed June 25, that connects MarineMax’s retail trade-in pipeline with the company’s valuation, wholesale and transaction platform. Management said the relationship creates opportunities to earn revenue from boat transactions as well as financing and insurance arrangements. Under the arrangement, Azure Finance will pursue financing opportunities for transactions involving company-owned inventory, while other qualifying transactions will be referred to Newcoast, MarineMax’s finance and insurance operation. Chief Operating Officer Blake Phillips said MarineMax is the company’s preferred wholesale partner for pre-owned boats and yachts, while Newcoast is its preferred finance a...