Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 127

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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, the most directly comparable financial measures calculated and presented in accordance with GAAP.

Summary of Acquisitions

Acquisitions

The comparability of our results of operations between the periods discussed below is naturally affected by the acquisitions we have completed during such periods. We are also continuously evaluating and pursuing acquisitions on an ongoing basis, and such acquisitions, if completed, will continue to impact the comparability of our financial results. While we expect continued growth and strategic acquisitions in the future, our acquisitions may have materially different characteristics than our historical results, and such differences in economics may impact the comparability of our future results of operations to our historical results.

Fiscal 2025 Year-to-date Acquisitions

•Effective February 1, 2025, we acquired American Yacht Group, a full service marine retailer with two locations in Florida

The acquisition of American Yacht Group is partially reflected in our unaudited condensed consolidated statements of operations for the three and six months ended March 31, 2025.

Fiscal Year 2024 Acquisitions

•Effective May 1, 2024, we acquired Garden State Yacht Sales, a full service marine retailer located in New Jersey

The acquisition of Garden State Yacht Sales is not reflected in our unaudited condensed consolidated statements of operations for the three and six months ended March 31, 2024.

On October 31, 2023, we exercised our right to acquire the remaining 20% economic interest in Quality Assets and Operations, LLC. Subsequent to the acquisition, the Company now owns 100% of the economic interest in Quality Assets and Operations, LLC.

Other Factors Affecting Comparability of Our Future Results of Operations to Our Historical Results of Operations

Our historical financial results discussed below may not be comparable to our future financial results. As we further implement controls, processes and infrastructure applicable to companies with publicly traded equity securities, including the integration of acquired companies, it is likely that we will incur additional selling, general, and administrative expenses relative to historical periods. Our future results will depend on our ability to efficiently manage our combined operations and execute our business strategy.

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Results of Operations

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

For the Three Months Ended March 31, 2025For the Three Months Ended March 31, 2024$ Change % Change ($ in thousands) Amount % of Revenue Amount % of Revenue Revenues:New boat$309,500 64.