Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 71

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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 compared to $18.3 million for the six months ended March 31, 2024. The decrease in interest expense – other was primarily related to the impact of our interest rate swaps for the six months ended March 31, 2025. 

Other Expense (Income), Net 

Other expense (income), net decreased by $1.2 million, or 52.0%, to $1.1 million of expense for the six months ended March 31, 2025 compared to $2.2 million of expense for the six months ended March 31, 2024. The decrease was primarily related to a decrease in expenses from weather events during the six months ended March 31, 2025.

Income Tax Benefit

Income tax benefit increased by $1.3 million, or 31.2%, to $5.4 million for the six months ended March 31, 2025 compared to $4.1 million for the six months ended March 31, 2024. The change was primarily attributable to the 16.8% increase in loss before income tax benefit for the six months ended March 31, 2025 as compared to the six months ended March 31, 2024. 

Net Loss 

Net loss increased by $1.5 million to $14.0 million for the six months ended March 31, 2025 compared to $12.5 million for the six months ended March 31, 2024. The increase was primarily attributable to the $6.0 million decrease in income from operations, partially offset by the $1.8 million decrease in interest expense - floor plan, the $1.2 million decrease in other expense (income), net and the $1.3 million increase in income tax benefit for the six months ended March 31, 2025 compared to the six months ended March 31, 2024. 

37

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