# EDGAR Filing Document

**Accession Number:** 0001057060
**File Stem:** 0001193125-26-028226
**Filing Date:** 2026-1
**Character Count:** 26101
**Document Hash:** c9985dcaa0b33d4910d6cad7165e23ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-028226.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0001193125-26-028226

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260129

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MARINEMAX INC
- **CENTRAL INDEX KEY:** 0001057060
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO & HOME SUPPLY STORES [5531]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 593496957
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14173
- **FILM NUMBER:** 26574868

**BUSINESS ADDRESS:**
- **STREET 1:** 2600 MCCORMICK DRIVE
- **STREET 2:** SUITE200
- **CITY:** CLEARWATER
- **STATE:** FL
- **ZIP:** 33759
- **BUSINESS PHONE:** 8135318150

**MAIL ADDRESS:**
- **STREET 1:** 2600 MCCORMICK DRIVE
- **STREET 2:** SUITE200
- **CITY:** CLEARWATER
- **STATE:** FL
- **ZIP:** 33759

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** January 29, 2026<br>

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MarineMax, Inc.

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Florida | 1-14173 | 59-3496957 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 501 Brooker Creek Boulevard |  |  |
| Oldsmar**,** Florida |  | 34677 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** 727 531-1700<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Stock, par value $.001 per share | HZO | The New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On January 29, 2026, MarineMax, Inc. issued a press release announcing its results of operations for its first fiscal quarter ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information in this Report of Form 8-K (including the exhibit) is furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this Current Report, regardless of any general incorporation language in the filing.

**Item 9.01 Financial Statements and Exhibits.**

Press release of MarineMax, Inc. dated January 29, 2026, reporting the financial results for its first fiscal quarter ended December 31, 2025.

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Exhibit Index

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [<u>Press release of MarineMax, Inc. dated January 29, 2026, reporting the financial results for its first fiscal quarter ended December 31, 2025.</u>](hzo-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | MarineMax, Inc. |
| Date: | *January 29, 2026* | By:  | */s/ Michael H. McLamb* |
|  |  |  | *Name: Michael H. McLamb<br>Title: Executive Vice President, Chief Financial Officer and Secretary*<br>|

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## Exhibit 99.1

![img220093352_0.gif](img220093352_0.gif)

Exhibit 99.1

**MarineMax Reports Fiscal 2026 First Quarter Results** 

~ Achieved First Quarter Revenue of $505.2 Million ~

~ Gross Margin of 31.8% Supported by Contributions from Strategic Expansion into Higher-Margin Businesses ~

~ Quarterly Same-Store Sales Grow More Than 10% Despite Challenging Retail Environment ~

~ Significant Inventory Reduction Strengthens Liquidity and Balance Sheet ~

~ Company Reaffirms Full-Year Fiscal 2026 Guidance ~

~ Earnings Conference Call at 10:00 a.m. ET Today ~

**OLDSMAR, Florida, January 29, 2026** – MarineMax, Inc. (NYSE: HZO) ("MarineMax" or the "Company"), the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, today announced results for its fiscal 2026 first quarter ended December 31, 2025.

**Fiscal 2026 First Quarter Summary**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Revenue of $505.2 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Same-store sales increased over 10%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Gross profit margin of 31.8%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Inventories at quarter end decreased $167.3 million from the prior year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Reported net loss of $7.9 million, or $0.36 per share; adjusted net loss<sup>1</sup> of $4.6 million, or $0.21 per share

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted EBITDA<sup>1</sup>of $15.5 million

**CEO & President Commentary**

"As anticipated, retail margin pressure persisted across the recreational boating industry in the December quarter, reflecting continued uncertainty and competitive dynamics, including elevated promotional activity, as the industry continues to right-size inventory," said Brett McGill, CEO and President of MarineMax. "While these conditions kept new and used boat margins well below historical levels, we were encouraged by the solid same-store sales growth achieved during the period. With industry inventory levels anticipated to normalize through the second half of the fiscal year, we believe our positioning at the premium end of the market will support a gradual improvement in margin performance.

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"Our ability to consistently generate gross margins above 30% in one of the industry's more challenging markets underscores the benefits of our strategy of adding higher-margin, complementary and less cyclical businesses. Over the past several years, we have diversified beyond traditional boat sales into marinas, storage operations, superyacht services, and financing and insurance. These businesses provide higher-margin, recurring-revenue streams that enhance resilience and reduce the volatility inherent in the boating industry cycles. As these businesses continue to scale, they are becoming an increasingly important driver of long-term performance.

"During the quarter, we also achieved substantial reductions in inventory and floor plan financing, reflecting disciplined operational execution and improved alignment between supply and demand. Customer deposits remained steady year-over-year, providing a foundation for greater stability as we progress through the year. Combined with increased liquidity, improved inventory positioning and a strengthening balance sheet, we are entering the next phase of the industry recovery from a position of financial strength.**"**

**Fiscal 2026 First Quarter Results**

Revenue in the fiscal 2026 first quarter increased 7.8% to $505.2 million from $468.5 million in the prior-year period, which was adversely impacted by Hurricanes Helene and Milton. On a comparable store basis, revenue increased by more than 10% year-over-year, compared with an 11% decline in the first quarter of fiscal 2025 versus the same period in fiscal 2024.

Gross profit was $160.5 million, or 31.8% of revenue, in the first quarter of fiscal 2026, compared with$169.7 million, or 36.2% of revenue, in the prior-year period. The decrease in gross margin percentage was primarily driven by the current retail promotional environment and sales mix, partly offset by contributions from the Company's higher-margin businesses.

Selling, general, and administrative (SG&A) expenses totaled $155.6 million, or 30.8% of revenue, in the first quarter of fiscal 2026, compared with $130.7 million, or 27.9% of revenue, in the prior-year period. Included in the prior-year period is a gain of $25.8 million for an adjustment to the fair value of contingent consideration. Excluding change in fair value of contingent consideration, hurricane and tornado (weather) expenses, intangible amortization, restructuring charges, and transaction and other costs, Adjusted SG&A<sup>1</sup> increased $1.6 million, or 1.1%, to $151.0 million from $149.4 million in the first quarter of fiscal 2025.

Interest expense was $15.9 million, or 3.1% of revenue, in the first quarter of fiscal 2026, compared with $18.7 million, or 4.0% of revenue, in the prior-year period. The decrease primarily reflected lower inventory levels relative to the first quarter of fiscal 2025, as well as reduced financing costs.

Net loss for the first quarter of fiscal 2026 was $7.9 million, or $0.36 per share, compared with net income of $18.1 million, or $0.77 per diluted share, in the prior-year period. Adjusted net loss<sup>1</sup> was $4.6 million, or $0.21 per share, compared with adjusted net income of $4.1 million, or $0.17 per diluted share, in the first quarter of fiscal 2025. Adjusted EBITDA<sup>1</sup> totaled $15.5 million, compared with $26.1 million in the prior-year period.

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**Reaffirms Fiscal 2026 Guidance**

Based on current business conditions, retail marine industry trends, and other relevant factors, the Company continues to expect fiscal 2026 Adjusted EBITDA<sup>1, 2</sup>to be in the range of $110 million to $125 million, with adjusted net income<sup>1, 2</sup> in the range of $0.40 to $0.95 per diluted share. These projections exclude the potential impact of material acquisitions or other unforeseen developments, including changes in tariffs and broader global economic conditions.

McGill concluded, "Although conditions across the recreational marine industry remain challenging, we expect activity to gradually improve as we move into the spring selling season. Early indications from this year's retail boat shows have been encouraging, and our positioning in the premium segment should enable us to outperform the broader market as conditions improve."

**Conference Call Information**

MarineMax will discuss its fiscal 2026 first quarter financial results on a conference call starting at 10:00 a.m. ET today. The conference call can be accessed via the "Investors" section of the Company's website: <u>www.marinemax.com</u>, or by dialing 877-407-0789 (U.S. and Canada) or 201-689-8562 (International). An online replay will be available within one hour of the conclusion of the call and will be archived on the website for one year.

**About MarineMax** 

As the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, MarineMax (NYSE: HZO) is United by Water. We have over 120 locations worldwide, including over 70 dealerships and over 65 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world's premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth's surface. We're focused on the other 71%. Learn more at <u>www.marinemax.com</u>.

**Forward-Looking Statement**

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, those relating to industry inventory levels, improved margin performance, the resilience of our financial model, the increasing importance of our marinas, storage operations, superyacht services, and financing and insurance businesses, the next phase of the industry recovery and our position of financial strength, our fiscal 2026 financial guidance, the expected improvement in the recreational marine industry and our

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expected ability to outperform the broader market as conditions improve. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, uncertainties, and assumptions include the timing of and potential outcome of the Company's long-term improvement plan, the estimated impact resulting from the Company's cost-reduction initiatives, the Company's abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company's manufacturing partners, the performance and integration of the recently acquired businesses, general economic conditions, as well as those within the Company's industry, the liquidity and strength of our bank group partners, the level of consumer spending, and numerous other factors identified in the Company's Form 10-K for the fiscal year ended September 30, 2025 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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| | |
|:---|:---|
| &nbsp;&nbsp;**Contacts** |  |
| &nbsp;&nbsp;**Investors:**  | &nbsp;&nbsp;Mike McLamb |
|  | &nbsp;&nbsp;Chief Financial Officer |
|  | &nbsp;&nbsp;MarineMax, Inc. |
|  | &nbsp;&nbsp;727-531-1700 |
|  | &nbsp;&nbsp;Scott Solomon |
|  | &nbsp;&nbsp;Sharon Merrill Advisors |
|  | &nbsp;&nbsp;857-383-2409 |
|  | &nbsp;&nbsp;HZO@investorrelations.com |

---

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**MarineMax, Inc. and Subsidiaries**

 **Condensed Consolidated Statements of Operations**

(Amounts in thousands, except share and per share data)

(Unaudited)

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Revenue | $505178 | $468461 |
| Cost of sales | 344708 | 298807 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 160470 | 169654 |
| Selling, general, and administrative expenses | 155550 | 130682 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from operations | 4920 | 38972 |
| Interest expense | 15856 | 18745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Loss) income before income tax (benefit) provision | (10936) | 20227 |
| Income tax (benefit) provision | (2841) | 2103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (loss) income | (8095) | 18124 |
| Less: Net (loss) income attributable to non-controlling interests | (169) | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (loss) income attributable to MarineMax, Inc. | $(7926) | $18066 |
| Basic net (loss) income per common share | $(0.36) | $0.80 |
| Diluted net (loss) income per common share | $(0.36) | $0.77 |
| Weighted average number of common shares used in computing<br> net (loss) income per common share: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 21942854 | 22615629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 21942854 | 23385374 |

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**MarineMax, Inc. and Subsidiaries**

 **Condensed Consolidated Balance Sheets**

(Amounts in thousands)

(Unaudited)

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| | | | |
|:---|:---|:---|:---|
|  | **December 31,** | **September 30,** | **December 31,** |
|  | **2025** | **2025** | **2024** |
| **ASSETS** |  |  |  |
| CURRENT ASSETS: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $164603 | $170351 | $145010 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 85876 | 108288 | 83272 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 867896 | 867328 | 1035183 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 26123 | 34912 | 34958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1144498 | 1180879 | 1298423 |
| Property and equipment, net | 548635 | 552546 | 535903 |
| Operating lease right-of-use assets, net | 137387 | 137915 | 142741 |
| Goodwill | 526968 | 526931 | 587967 |
| Other intangible assets, net | 34945 | 35416 | 38493 |
| Other long-term assets | 35886 | 36751 | 30818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $2428319 | $2470438 | $2634345 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |
| CURRENT LIABILITIES: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $52577 | $56378 | $35532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Contract liabilities (customer deposits) | 52643 | 45699 | 52504 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 107049 | 121042 | 164145 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings (Floor Plan) | 702719 | 715679 | 795170 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current maturities on long-term debt | 35593 | 35593 | 33766 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current operating lease liabilities | 10760 | 10489 | 10330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 961341 | 984880 | 1091447 |
| Long-term debt, net of current maturities | 347490 | 356235 | 347294 |
| Noncurrent operating lease liabilities | 127818 | 127969 | 130489 |
| Deferred tax liabilities, net | 42592 | 47447 | 54364 |
| Other long-term liabilities | 4758 | 5154 | 7550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1483999 | 1521685 | 1631144 |
| SHAREHOLDERS' EQUITY: |  |  |  |
| Preferred stock |  |  |  |
| Common stock | 31 | 31 | 30 |
| Additional paid-in capital | 364432 | 360818 | 350138 |
| Accumulated other comprehensive income (loss) | 8171 | 8234 | (1993) |
| Retained earnings | 738458 | 746384 | 796081 |
| Treasury stock | (178277) | (178277) | (150797) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity attributable to MarineMax, Inc. | 932815 | 937190 | 993459 |
| Non-controlling interests | 11505 | 11563 | 9742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 944320 | 948753 | 1003201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $2428319 | $2470438 | $2634345 |

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**MarineMax, Inc. and Subsidiaries**

 **Segment Financial Information**

(Amounts in thousands)

(Unaudited)

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Operations | $504413 | $468349 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product Manufacturing | 21622 | 37938 |
| &nbsp;&nbsp;&nbsp;&nbsp;Elimination of intersegment revenue | (20857) | (37826) |
| Revenue | $505178 | $468461 |
| Income (loss) from operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Operations | $7165 | $41250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product Manufacturing | (6125) | 223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intersegment adjustments | 3880 | (2501) |
| Income from operations | $4920 | $38972 |

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**MarineMax, Inc. and Subsidiaries**

**Supplemental Financial Information**

(Amounts in thousands, except share and per share data)

(Unaudited)

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Net (loss) income attributable to MarineMax, Inc. | $(7926) | $18066 |
| Transaction and other costs (1) | 2975 | 221 |
| Intangible amortization (2) | 960 | 1428 |
| Change in fair value of contingent consideration (3) | 414 | (25817) |
| Weather expenses | 9 | 4968 |
| Restructuring expense (4) | 147 | 503 |
| Tax adjustments for items noted above (5) | (1131) | 4693 |
| Adjusted net (loss) income attributable to MarineMax, Inc. | $(4552) | $4062 |
| Diluted net (loss) income per common share | $(0.36) | $0.77 |
| Transaction and other costs (1) | 0.13 | 0.01 |
| Intangible amortization (2) | 0.04 | 0.06 |
| Change in fair value of contingent consideration (3) | 0.02 | (1.10) |
| Weather expenses |  | 0.21 |
| Restructuring expense (4) | 0.01 | 0.02 |
| Tax adjustments for items noted above (5) | (0.05) | 0.20 |
| Adjusted diluted net (loss) income per common share | $(0.21) | $0.17 |

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(1) Transaction and other costs relate to acquisition transaction, integration, and other costs in the period.

(2) Represents amortization expense for acquisition-related intangible assets.

(3) Represents (gains) expenses to record contingent consideration liabilities at fair value.

(4) Represents expenses incurred as a result of restructuring and store closings.

(5) Adjustments for taxes for items are calculated based on an estimated effective tax rate.

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Net (loss) income attributable to MarineMax, Inc. | $(7926) | $18066 |
| Interest expense (excluding floor plan) | 7355 | 8401 |
| Income tax (benefit) provision | (2841) | 2103 |
| Depreciation and amortization | 12582 | 11597 |
| Stock-based compensation expense | 2645 | 5473 |
| Transaction and other costs | 2975 | 221 |
| Change in fair value of contingent consideration | 414 | (25817) |
| Restructuring expense | 147 | 503 |
| Weather expenses | 9 | 4968 |
| Foreign currency | 184 | 542 |
| Adjusted EBITDA | $15544 | $26057 |

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<sup>1, 2</sup>**Non-GAAP Financial Measures**

This press release, along with the above Supplemental Financial Information table, contains "Adjusted net (loss) income attributable to MarineMax, Inc.," "Adjusted diluted net (loss) income per common share," "Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization" ("Adjusted EBITDA"), and "Adjusted selling, general and administrative expenses" ("Adjusted SG&A"), which are non-GAAP financial measures as defined under applicable securities legislation. Adjusted SG&A expenses represent SG&A expenses adjusted for transaction and other costs, intangible amortization, change in fair value of contingent consideration, weather expenses, and restructuring expense. See the tables labeled, "Supplemental Financial Information" for the excluded amounts for both periods for Adjusted SG&A.

In determining these measures, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures. The Company believes these non-GAAP financial measures are key performance indicators that improve the period-to-period comparability of the Company's results and provide investors with more insight into, and an additional tool to understand and assess, the performance of the Company's ongoing core business operations. Investors and other readers are encouraged to review the related GAAP financial measures and the above reconciliation and should consider these non-GAAP financial measures as a supplement to, and not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP.

In addition, we have not reconciled our fiscal year 2026 Adjusted net income and Adjusted EBITDA guidance to net income (the corresponding GAAP measure for each), which is not accessible on a forward-looking basis due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to acquisition contingent consideration, acquisition costs, and other costs. Acquisition contingent consideration and transaction costs, which are likely to be significant to the calculation of net income, are affected by the integration and post-acquisition performance of our acquirees, which is difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted net income and Adjusted EBITDA are not available without unreasonable effort.

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