Company: ONEW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001772921-25-000040
Chunk: 130

Company: OneWater Marine Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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ited condensed consolidated statements of operations for the nine months ended June 30, 2025.

Fiscal Year 2024 Acquisitions

•Effective May 1, 2024, we acquired Garden State Yacht Sales, a full service marine retailer located in New Jersey

The acquisition of Garden State Yacht Sales is partially reflected in our unaudited condensed consolidated statements of operations for the three and nine months ended June 30, 2024.

On October 31, 2023, we exercised our right to acquire the remaining 20% economic interest in Quality Assets and Operations, LLC. Subsequent to the acquisition, the Company now owns 100% of the economic interest in Quality Assets and Operations, LLC.

 Other Factors Affecting Comparability of Our Future Results of Operations to Our Historical Results of Operations

Our historical financial results discussed below may not be comparable to our future financial results. As we further implement controls, processes and infrastructure applicable to companies with publicly traded equity securities, including the integration of acquired companies, it is likely that we will incur additional selling, general, and administrative expenses relative to historical periods. Additionally, from time to time, we may consider expanding or cancelling certain dealer agreements which could impact our future revenues and gross profit. Our future results will depend on our ability to efficiently manage our combined operations and execute our business strategy.

32

Results of Operations

Three Months Ended June 30, 2025, Compared to Three Months Ended June 30, 2024

For the Three Months Ended June 30, 2025For the Three Months Ended June 30, 2024$ Change % Change ($ in thousands) Amount % of Revenue Amount % of Revenue Revenues:New boat$326,134 59.0 %$333,162 61.4 %$(7,028)-2.1 %Pre-owned boat125,941 22.8 %106,889 19.7 %19,052 17.8 %Finance & insurance income17,782 3.2 %17,932 3.3 %(150)-0.8 %Service, parts & other83,007 15.0 %84,458 15.6 %(1,451)-1.7 %Total revenues552,864 100.0 %542,441 100.0 %10,423 1.9 %Gross ProfitNew boat51,950 9.4