Company: ONEW
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001772921-25-000013
Chunk: 120

Company: OneWater Marine Inc.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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 per share of Class A common stock - diluted$(0.81)$(0.49)$(0.32)Transaction costs0.04 0.04 — Intangible amortization0.14 0.11 0.03 Change in fair value of contingent consideration0.02 0.04 (0.02)Restructuring and impairment0.13 — 0.13 Other expense (income), net0.06 (0.02)0.08 Net loss attributable to non-controlling interests of One Water Marine Holdings, LLC (1)(0.04)(0.02)(0.02)Adjustments to income tax benefit (2)(0.08)(0.04)(0.04)Adjusted loss per share of Class A common stock - diluted$(0.54)$(0.38)$(0.16)(1) Represents an allocation of the impact of reconciling items to our non-controlling interest.(2) Represents an adjustment of all reconciling items at an estimated effective tax rate.

Adjusted Net Loss Attributable to OneWater Marine Inc. and Adjusted Diluted Loss Per Share were $8.0 million and $0.54, respectively, for the three months ended December 31, 2024 compared to Adjusted Net Loss Attributable to OneWater Marine Inc. and Adjusted Diluted Loss Per Share of $5.4 million and $0.38, respectively, for the three months ended December 31, 2023. The decrease in Adjusted Net Income (Loss) Attributable to OneWater Marine Inc. resulted from the decrease in gross profit, partially offset by the decreases in selling, general and administrative expenses and interest expense - floor plan for the three months ended December 31, 2024, each as compared to the three months ended December 31, 2023. The decrease in Adjusted Diluted Earnings (Loss) Per Share resulted from the decrease in Adjusted Net Income (Loss) Attributable to OneWater Marine Inc.

34

Seasonality 

Our business, along with the entire boating industry, is highly seasonal, and such seasonality varies by geographic market. With the exception of Florida, we generally realize significantly lower sales and higher levels of inventories, and related floor plan borrowings, in the quarterly periods ending December 31 and March 31. Revenue generated from our dealerships in Florida serves to offset generally lower winter revenue in our other states and