| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 29.84 | 9.5% |
| Total Income | 29.84 | 9.5% |
| Expenditure | 32.71 | 23.8% |
| PBT | -3.30 | 1237.9% |
| Net Profit | -3.47 | 1296.5% |
| OPM | -9.61% | 12.62pp |
| NPM | -11.62% | 12.68pp |
| EPS | -0.14 | 1500.0% |
Off The Hook YS Inc. Reports Q1 2026 Revenue Up 9.6% to $29.8 Million
15 May 2026 · 15 May, 1:43 am
Summary
Off The Hook YS Inc. reported a 9.6% increase in revenue for the first quarter of 2026, reaching $29.8 million compared to $27.2 million in the same period of 2025. The increase was primarily driven by increased inventory availability and sales activity, supported by an expansion of the Company’s floorplan financing facility. Pre-owned boat sales increased by 31.8%. The company is raising its full year 2026 revenue guidance to $165 million to $170 million. The company also completed the Apex Marine acquisition which strengthens their position in South Florida.
Key Highlights
- 1
First quarter 2026 revenue increased 9.6% year over year to $29.8 million.
- 2
Pre-owned boat sales increased 31.8% compared to the first quarter of 2025.
- 3
The company sold 127 boats during the first quarter, representing a first quarter record.
- 4
Gross profit increased 18.5% to $3.2 million compared to $2.7 million in the first quarter of 2025.
- 5
The company expanded its broker network by 30 brokers during the quarter.
- 6
Full year 2026 revenue guidance was increased to $165–$170 million.
Management Comments
Brian John
We achieved record revenue of $29.8 million, expanded our national broker network, and continued to build out the infrastructure that we believe positions the Company for continued double-digit growth. Our vertically integrated model—combining brokerage, wholesale inventory acquisition, financing through Azure Funding, and our growing premier brokerage division—continues to differentiate Off the Hook Yachts in the marine industry. Despite what is normally a seasonably slow first quarter, we achieved record results, growing monthly revenue that has continued into the second quarter. We believe Off the Hook is well-positioned to continue accelerating growth in 2026. Early second quarter trends have been encouraging and based on current expectations we are raising our guidance for the full year. We will also continue our focus on building one of the leading platforms in the recreational marine market This morning we announced the completion of the Apex Marine acquisition which strengthens our position in South Florida and adds important operating infrastructure to support our storage, service, and resale strategy. Apex gives us a physical hub in one of our most active markets, with the potential to reduce outsourced service costs, improve turn times and support higher transaction volumes as we continue scaling the platform. We believe the future of this industry requires both technology and infrastructure, and Apex is an important investment in that combined model
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