Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 73

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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375)$(4,509)$4,134 Interest expense – other9,100 9,192 (92)Income tax benefit(148)(1,846)1,698 Depreciation and amortization6,171 5,564 607 Stock-based compensation2,088 2,277 (189)Change in fair value of contingent consideration66 3,132 (3,066)Transaction costs377 145 232 Restructuring and impairment388 11,847 (11,459)Other expense (income), net190 2,493 (2,303)Adjusted EBITDA$17,857 $28,295 $(10,438)

Adjusted EBITDA was $17.9 million for the three months ended March 31, 2025 compared to $28.3 million for the three months ended March 31, 2024. The decrease in Adjusted EBITDA resulted primarily from the decrease in gross profit for the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

Six Months Ended March 31, 2025, Compared to Six Months Ended March 31, 2024

Six Months Ended March 31,($ in thousands)20252024ChangeNet loss$(13,987)$(12,479)$(1,508)Interest expense – other18,088 18,344 (256)Income tax benefit(5,410)(4,122)(1,288)Depreciation and amortization12,208 10,470 1,738 Stock-based compensation4,258 4,669 (411)Change in fair value of contingent consideration308 3,704 (3,396)Transaction costs936 724 212 Restructuring and impairment2,286 11,847 (9,561)Other expense (income), net1,077 2,246 (1,169)Adjusted EBITDA$19,764 $35,403 $(15,639)

Adjusted EBITDA was $19.8 million for the six months ended March 31, 2025 compared to $35.4 million for the six months ended March 31, 2024. The decrease in Adjusted EBITDA resulted primarily from the decrease in gross profit, partially offset by the decrease in interest expense - floor plan for the six months ended March 31,