Company: ONEW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001772921-25-000040
Chunk: 135

Company: OneWater Marine Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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 the three months ended June 30, 2025 compared to $5.1 million for the three months ended June 30, 2024. The increase in depreciation and amortization expense for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was primarily attributable to an increase in intangible assets and property and equipment to support operations.

Transaction Costs 

Transaction costs remained flat at $0.2 million for the three months ended June 30, 2025 and 2024. 

Change in Fair Value of Contingent Consideration 

During the three months ended June 30, 2025, we recognized a charge of $0.1 million related to accretion of contingent consideration liabilities. During the three months ended June 30, 2024, we recognized a charge of $0.2 million related to accretion of contingent consideration liabilities.

Restructuring and Impairment 

During the three months ended June 30, 2025, we recognized a loss of $0.7 million related to various restructuring activities, of which $0.2 million was recorded in restructuring and impairment and $0.5 million was recorded in new boat cost of sales in the unaudited consolidated statement of operations. No charges related to restructuring activities were recorded during the three months ended June 30, 2024.

Income from Operations

Income from operations decreased $9.6 million, or 24.1%, to $30.4 million for the three months ended June 30, 2025 compared to $40.0 million for the three months ended June 30, 2024. The decrease was primarily attributable to the $3.9 million decrease in gross profit and $5.1 million increase in selling, general and administrative expenses for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. 

Interest Expense – Floor Plan 

Interest expense – floor plan decreased $2.0 million, or 21.0%, to $7.3 million for the three months ended June 30, 2025 compared to $9.3 million for the three months ended June 30, 2024. Floor plan related interest expense decreased primarily due to a decrease in average floor plan borrowings for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, as well as the impact of