Company: ONEW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001772921-25-000040
Chunk: 175

Company: OneWater Marine Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 175
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 30, 2025 from $56.7 million for the three months ended June 30, 2024. This decrease was due to the decrease in new boat revenues and gross profit margins. New boat gross profit margin was 15.9% for the three months ended June 30, 2025 as compared to 17.0% in the three months ended June 30, 2024. The decrease was primarily due to new boat pricing, including the impact of select brands the Company is exiting.

Pre-owned Boat Gross Profit

Pre-owned boat gross profit increased by $0.3 million, or 1.2%, to $22.5 million for the three months ended June 30, 2025 from $22.3 million for the three months ended June 30, 2024. Pre-owned boat gross profit margin was 17.9% and 20.8% for the three months ended June 30, 2025 and 2024, respectively. The decrease in gross profit margin was primarily due to strategic pricing to drive sales growth and maintain a healthy level of inventory. The decrease in pre-owned boat gross profit margin was offset by the increase in pre-owned boat units sold and average unit price. 

Finance & Insurance Gross Profit 

Finance & insurance gross profit remained relatively flat at $17.8 million for the three months ended June 30, 2025 compared to $17.9 million for the three months ended June 30, 2024. Finance & insurance income is fee-based revenue for which we do not recognize incremental cost of sales.

Service, Parts & Other Gross Profit 

Service, parts & other gross profit increased by $0.7 million, or 2.0%, to $36.4 million for the three months ended June 30, 2025 from $35.7 million for the three months ended June 30, 2024. The increase in gross profit was primarily the result of the increase in service, parts & other gross profit margin. Service, parts & other gross profit margin was 43.8% and 42.3% for the three months ended June 30, 2025 and 2024, respectively. The increase in gross profit margin was primarily due to a shift in mix towards service which has a higher margin profile.

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Selling, General and Administrative Expenses 

Selling, general and administrative expenses increased by $5.1 million, or 5.8%, to $92.1