Company: ONEW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001772921-25-000040
Chunk: 184

Company: OneWater Marine Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 184
---
 June 30, 2025 compared to $27.4 million for the nine months ended June 30, 2024 which is a result of the consistent average outstanding balance under the A&R Credit Facility for the nine months ended June 30, 2025 and 2024. 

Other (Income) Expense, Net 

Other (income) expense, net remained flat at $0.9 million of expense for the nine months ended June 30, 2025 and 2024.

Income Tax (Benefit) Expense

Income tax (benefit) expense changed by $4.1 million, or 185.6%, to $1.9 million of income tax benefit for the nine months ended June 30, 2025 compared to $2.2 million of income tax expense for the nine months ended June 30, 2024. The change was primarily attributable to the 180.1% change in loss before income tax benefit for the nine months ended June 30, 2025 as compared to income before income tax expense for the nine months ended June 30, 2024. 

38

Net (Loss) Income 

Net (loss) income changed by $7.5 million to $3.3 million of net loss for the nine months ended June 30, 2025 compared to $4.2 million of net income for the nine months ended June 30, 2024. The change was primarily attributable to the $15.6 million decrease in income from operations, partially offset by the $3.8 million decrease in interest expense - floor plan and the $4.1 million change in income tax (benefit) expense for the nine months ended June 30, 2025 compared to the nine months ended June 30, 2024. 

Comparison of Non-GAAP Financial Measures

Adjusted EBITDA

We view Adjusted EBITDA as an important indicator of performance. We define Adjusted EBITDA as net income (loss) before interest expense – other, income tax (benefit) expense, depreciation and amortization and other (income) expense, further adjusted to eliminate the effects of items such as the change in fair value of contingent consideration, restructuring and impairment, stock-based compensation and transaction costs. 

Our Board, management team and lenders use Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing