Quarterly ResultMay 14, 2026, 04:13 PM
Off The Hook Q1 Revenue +9.6% to $29.8M; Net Loss $3.47M; Raises FY26 Guidance
AI Summary
Off The Hook YS Inc. reported Q1 2026 financial results, with revenue increasing 9.6% to $29.8 million and gross profit rising 18.5% to $3.2 million. Despite this growth, the company posted a net loss of $3.47 million, a significant decline from the prior year's net income. Concurrently, Off The Hook completed the acquisition of Apex Marine, strengthening its South Florida presence and operational infrastructure, and raised its full-year 2026 revenue guidance to $165-$170 million.
Key Highlights
- Completed Apex Marine acquisition, expanding South Florida infrastructure.
- Q1 2026 revenue increased 9.6% to $29.8 million.
- Q1 2026 gross profit increased 18.5% to $3.2 million.
- Reported a Q1 2026 net loss of $3.47 million, compared to $0.29 million net income in Q1 2025.
- Basic and diluted net loss per common share was $0.14 for Q1 2026.
- Raised full-year 2026 revenue guidance to $165-$170 million from $155-$160 million.
- Pre-owned boat sales increased 31.8% to $27.8 million, with 124 units sold.
- Expanded broker network by 30 brokers during the quarter.