Off The Hook Yachts Achieves Remarkable Third Quarter Results
Third Quarter Revenues of $24.0 million
Record Nine Month Revenues of $82.6 million, up 19.3% YOY
Third Quarter Number of Boats sold totaled 112 units, up 51% YOY
Issues 2026 Full Year Revenue Guidance
Wilmington, NC — Off The Hook YS Inc. (NYSE: OTH), one of the largest buyers and sellers of pre-owned boats in America, has announced impressive financial results for the third quarter that ended on September 30. The company is excited to share this with its stakeholders.
Celebrating Key Milestones
Brian John, the Chief Executive Officer of Off The Hook Yachts, expressed pride in the team for their outstanding performance amid the backdrop of an initial public offering that successfully raised $15 million. He highlighted the recent launch of Autograph Yacht Group, situated in Jupiter, Florida, and the expansion of their broker network across the United States. This strategic growth underscores their commitment to delivering exceptional service.
Impressive Revenue and Sale Numbers
The third quarter highlighted revenue of $24.0 million, slightly down from $25.8 million in the previous year. However, a remarkable 51.1% increase in the number of boats sold showcased the company's strength, with a total of 112 boats sold against 74 in the same quarter last year. Notably, this marks the second highest quarterly boat sales in the company's history, trailing only the record 117 units sold in the previous quarter.
Overall Performance and Future Guidance
For the first nine months of 2025, Off The Hook YS Inc. achieved record revenue of $82.6 million, reflecting a 19.3% year-over-year increase. The number of boats sold during this period also set new records, growing by 24.4% to 310 units sold. Forecasts for 2026 are promising, with the company anticipating annual revenues between $140 million and $145 million.
Financial Analysis
Despite the modest dip in third-quarter revenue, Gross profit stood strong at $3.0 million, surpassing $2.9 million in 2024. The strategic decisions made by the purchasing team were pivotal in achieving this growth, particularly within the pre-owned segment, which saw a 29.3% uptick in gross profit.
Operational Expenses and Adjusted EBITDA
Operating expenses increased to $2.7 million compared to $1.6 million from last year, mainly due to the necessary enhancements in marketing and public company capabilities. Adjusted EBITDA for the third quarter was reported at $0.5 million, with a net loss of $0.07 million.
Employee and Product Expansion
In the third quarter, Off The Hook Yachts welcomed ten new brokers to its expanding team, which is crucial in supporting the company’s operational growth. This impressive increase in the brokerage network positions the company to capitalize on emerging boating trends, regardless of market fluctuations in pre-owned boat prices.
Contact Information
For further inquiries, please reach out to:
Chad Corbin
Chief Financial Officer
Ccorbin@offthehookys.com
Frequently Asked Questions
1. What were Off The Hook Yachts' revenue figures for the third quarter?
Off The Hook Yachts reported revenue of $24.0 million for the third quarter.
2. How many boats were sold in the recent quarter?
The company sold 112 boats in the third quarter, marking a 51.1% increase compared to the previous year.
3. What is the full-year revenue guidance for 2026?
Off The Hook Yachts anticipates annual revenue between $140 million and $145 million for 2026.
4. How does Off The Hook Yachts plan to sustain its growth?
The company plans to leverage its expanding network of brokers and increased capital investments to enhance its operations and sales capabilities.
5. What's the company's approach to managing operational costs?
Off The Hook Yachts is focusing on increased efficiency and strategic investments in market capacity to ensure a sustainable growth trajectory.
