Company: ONEW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001772921-25-000040
Chunk: 186

Company: OneWater Marine Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 186
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 33 Income tax expense3,507 6,344 (2,837)Depreciation and amortization6,301 5,785 516 Stock-based compensation2,459 2,256 203 Change in fair value of contingent consideration144 214 (70)Transaction costs175 242 (67)Restructuring and impairment727 — 727 Other (income) expense, net(224)(1,357)1,133 Adjusted EBITDA$32,845 $39,206 $(6,361)

Adjusted EBITDA was $32.8 million for the three months ended June 30, 2025 compared to $39.2 million for the three months ended June 30, 2024. The decrease in Adjusted EBITDA resulted primarily from the decrease in gross profit and the increase in selling, general and administrative expenses, partially offset by the decrease in interest expense - floor plan for the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

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

Nine Months Ended June 30,($ in thousands)20252024ChangeNet (loss) income$(3,272)$4,235 $(7,507)Interest expense – other27,129 27,352 (223)Income tax (benefit) expense(1,903)2,222 (4,125)Depreciation and amortization18,509 16,255 2,254 Stock-based compensation6,717 6,925 (208)Change in fair value of contingent consideration452 3,918 (3,466)Transaction costs1,111 966 145 Restructuring and impairment3,013 11,847 (8,834)Other (income) expense, net853 889 (36)Adjusted EBITDA$52,609 $74,609 $(22,000)

Adjusted EBITDA was $52.6 million for the nine months ended June 30, 2025 compared to $74.6 million for the nine months ended June 30, 2024. The decrease in Adjusted EBITDA resulted primarily from the decrease in gross profit and the increase in selling, general and administrative expenses, partially offset by the decrease in interest expense - floor plan for the