Quarterly ResultAug 13, 2026, 04:45 PM
NextBoat Rebrands, Acquires Apex & Bellhart; Q2 Net Loss $1.87M
AI Summary
NextBoat Inc., formerly Off The Hook YS Inc., reported significant strategic developments and financial results for Q2 and H1 2026. The company completed the rebranding to NextBoat and acquired Apex Marine for $6.15 million and Bellhart Marine Group for $920,000. While revenue saw substantial growth, the company recorded a net loss for both the quarter and the six-month period, primarily due to increased operating expenses and interest expenses.
Key Highlights
- Company rebranded from Off The Hook YS Inc. to NextBoat Inc. and changed its ticker symbol to NXB.
- Acquired Apex Marine for approximately $6.15 million, including $1.2 million cash and 679,008 shares.
- Acquired Bellhart Marine Group for $920,000, consisting of $750,000 cash and $170,000 assumed liabilities.
- Q2 2026 revenue increased to $59.06 million from $31.35 million in Q2 2025.
- Q2 2026 net loss was $(1.87) million, compared to net income of $0.55 million in Q2 2025.
- H1 2026 revenue increased to $88.91 million from $58.59 million in H1 2025.
- H1 2026 net loss was $(5.34) million, compared to net income of $0.84 million in H1 2025.
- Total assets grew to $100.49 million as of June 30, 2026, from $48.42 million at December 31, 2025.
Price Impact
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