Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 60

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 60
---
846)-0.4 %1,698 -92.0 %Net loss(375)-0.1 %(4,509)-0.9 %4,134 -91.7 %Net (income) attributable to non-controlling interests — — Net loss attributable to non-controlling interests of One Water Marine Holdings, LLC7 540 Net loss attributable to OneWater Marine Inc.$(368)$(3,969)

Revenue

Overall, revenue decreased by $4.8 million, or 1.0%, to $483.5 million for the three months ended March 31, 2025 from $488.3 million for the three months ended March 31, 2024. Revenue decreased due to a decrease in unit sales for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. Overall, the revenue decrease was attributable to a $17.8 million decrease in new boat sales, partially offset by an $11.1 million increase in pre-owned boat sales and a $1.7 million increase in service, parts & other sales for the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

New Boat Sales

New boat sales decreased by $17.8 million, or 5.4%, to $309.5 million for the three months ended March 31, 2025 from $327.3 million for the three months ended March 31, 2024. The decrease was primarily attributable to the decrease in the unit sales, partially offset by an increase in average sales price.

32

Pre-owned Boat Sales

Pre-owned boat sales increased by $11.1 million, or 14.1%, to $89.7 million for the three months ended March 31, 2025 from $78.6 million for the three months ended March 31, 2024. We sell a wide range of brands and sizes of pre-owned boats under different types of sales arrangements (e.g., trade-ins, brokerage, consigned and wholesale), which causes periodic and seasonal fluctuations in the average sales price. The increase in pre-owned boat sales was primarily attributable to the increase in both units sold and average unit price. 

Finance & Insurance Income

We generate revenue from arranging finance & insurance products, including financing, insurance and extended warranty contracts, to customers through various third-party financial institutions and insurance companies.