Company: MCFT
Filing Date: 2025-08-27
Form Type: 10-K
Source: 0000950170-25-111682
Chunk: 14

Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-08-27
Form: 10-K
Item: Item 6
Chunk 14
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   Net sales decreased 8.4 percent during fiscal 2025, when compared to fiscal 2024. The decrease was primarily driven by lower unit volumes and changes in price, partially offset by favorable model mix, decreased dealer incentives, and favorable option sales.Operating income decreased 30.1 percent during fiscal 2025, when compared to the same prior year period. The overall decrease was driven by decreased net sales, as discussed above, increased materials and overhead inflation, and increased variable compensation costs.Pontoon SegmentThe following table sets forth Pontoon segment results for the fiscal years ended:

     (Dollar amounts in thousands)
      
     2025

     2024

     Change

     % Change

     Net sales
      
     $
     43,440

     $
     59,615

     $
     (16,175
     )

     (27.1
     %)

     Operating loss

     (9,426
     )

     (2,097
     )

     (7,329
     )

     349.5
     %

     Purchases of property, plant and equipment

     1,979

     2,613

     (634
     )

     (24.3
     %)

     Unit sales volume

     745

     1,241

     (496
     )

     (40.0
     %)

     Net sales per unit
      
     $
     58

     $
     48

     $
     10

     20.8
     %
    
   Net sales decreased 27.1 percent during fiscal 2025, when compared to fiscal 2024, as a result of decreased unit volume and increased dealer incentives, partially offset by favorable model mix and favorable option sales.Operating loss was $9.4 million during fiscal 2025, compared to $2.1 million in fiscal 2024. The change was primarily due to decreased net sales, as discussed above, and increased labor and materials cost.

25

Non-GAAP MeasuresEBITDA, Adjusted EBITDA, EBITDA Margin, and Adjusted EBITDA MarginWe define EBITDA as income from continuing operations, before interest, income taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA further adjusted to eliminate certain non-cash charges or other items that we do not consider to be indicative of our core and/or ongoing operations. For the periods