NextBoat (NYSE American: NXB) appointed Ross Tannenbaum as Chief Executive Officer, effective immediately, succeeding Brian John, who remains on the board.
Tannenbaum previously led Dreams and held senior executive roles at Fanatics. NextBoat plans to focus on profitability, national expansion and scaling its technology platform.
The Compensation Committee approved options to purchase up to 2,500,000 common shares as an employment inducement outside the 2025 Equity Incentive Plan. The grant becomes effective upon NYSE American approval of the underlying shares' listing. The exercise price equals the stock's closing price on the grant date. The awards combine time-based vesting, Adjusted EBITDA milestones and a stock-price condition. Each option has a ten-year term, with vesting subject to continued employment and acceleration in specified circumstances.
NextBoat (NXB) appointed Zebulon Hadley to its Board of Directors as an independent director and chair of the Compensation Committee, and named Todd Bates as Vice President of Finance & Insurance (F&I), effective with the company’s ongoing transition into a more mature public company.
Hadley is President and CEO of National Coatings, which he acquired in 2016 and has grown to roughly $39 million in annual revenue, and has founded, acquired, and scaled several businesses over a 20‑year entrepreneurial career. As Compensation Committee chair, he aims to reinforce accountability, governance, execution, and incentive structures aligned with long-term objectives.
Bates brings more than a decade of F&I leadership at a large marine retail group. As Corporate Director of Finance, he previously increased F&I revenue by over $5 million on flat sales across 80 locations, after earlier growing a single dealership’s F&I revenue from $600,000 to $2.4 million. The company states these appointments support its next phase of growth as it seeks to redefine how boats are bought, sold, and financed nationwide.
NextBoat (NYSE American:NXB) reported fiscal Q2 2026 revenue of $59.1 million, up 88.4% year-over-year, driven by contributions from the Apex Marine and Bellhart acquisitions, higher floor plan capacity, and expansion of its Off The Hook and Autograph Yacht Group broker networks. The company sold a record 255 boats, with pre-owned boat sales up 104.4% and transaction volume up about 138%.
Q2 gross profit rose 100.1% to $9.5 million, with margin improving to 16.1% from 15.2%. However, higher operating costs and interest led to a net loss of $2.1 million versus prior-year net income of $0.6 million. Adjusted EBITDA was $0.8 million, roughly flat year-over-year. For full-year 2026, NextBoat maintained revenue guidance of $165–$170 million. Total assets increased to $100.5 million, while total liabilities rose to $88.4 million, including floor plan notes payable of $51.6 million.
NextBoat (NYSE American:NXB) will release its second quarter 2026 financial and operating results on Thursday, August 13, 2026, after the market close, followed by an earnings conference call at 4:30 p.m. Eastern time. Investors can join via domestic dial-in (833) 461-5787, international (585) 542-9983, using passcode 366 467 666, or through a live webcast on the Investor Relations section of the company’s website, where a limited-time replay will also be available.
NextBoat, founded in 2012 and headquartered in Wilmington, North Carolina, operates a vertically integrated, technology-driven marine marketplace involved in boat brokerage, wholesale inventory acquisition, auctions, financing, and marine services across the U.S.
NextBoat (NYSE American:NXB) reported preliminary record performance for the second quarter of 2026, including a record number of transaction closings and record quarterly sales, and indicated it expects to be at or near profitability for the period.
Key developments included approximately 120% year-over-year growth in transaction volume, a preferred wholesale partnership with MarineMax for pre-owned boats and yachts, a preferred finance and insurance relationship with Newcoast, and successful integration of APEX, which achieved profitability in its first full quarter under NextBoat ownership. The company tripled its transaction closing team, expanded headcount about 42% year-over-year, advanced proprietary closing automation, launched an automated Broker Hiring Portal, and continued Bellhart’s operational turnaround. NextBoat plans to report full Q2 financials on August 14, 2026.
MarineMax (NYSE:HZO) announced a strategic partnership with NextBoat (NYSE American:NXB), an AI-powered marine technology company, dated July 8, 2026. The collaboration is expected to broaden distribution for Newcoast Financial Services by connecting its financing, insurance and F&I products to more pre-owned boat buyers and transactions via NextBoat’s AI-enabled marketplace platform.
According to MarineMax, the relationship supports its objective to grow higher-margin financing and insurance offerings and complements existing retail and financial services capabilities.
NextBoat (NYSE American:NXB) announced a strategic partnership with MarineMax (NYSE:HZO), the world's largest recreational boat and yacht retailer. MarineMax becomes NextBoat's preferred wholesale and trade-in partner, routing a significant share of pre-owned inventory through the NextBoat AI platform.
The platform provides AI-powered vessel valuations, rapid wholesale bidding, real-time transaction management, workflow tools, analytics, and integrated financing and insurance via MarineMax's Newcoast arm. MarineMax, with over $2.3 billion in annual revenue across 120 locations, is expected to increase platform volume and support expansion to additional marine industry participants.
NextBoat (NYSE American:NXB) reported that its Autograph Yacht Group division completed the sale of a 2009 Abeking & Rasmussen 60-meter superyacht, last asking $45,000,000. This is described as the largest brokerage transaction in company history and expands its reach into ultra-high-net-worth clients.
NextBoat (NYSE American:NXB) reported integration milestones within 60 days of acquiring APEX Marine Companies. APEX’s entire boat inventory is now on the NextBoat platform, with most pre-owned vessels centralized in Miami to improve inventory management and sales visibility.
APEX’s sales team has sold 15 vessels since May 1, 2026, and additional sales are in progress. The service department stores eight boats and is expanding yard space by late June. NextBoat closed its Haulover location and has identified about $90,000 in monthly SG&A reductions, supporting its goal of greater efficiency and long-term shareholder value.
NextBoat (NYSE America:NXB) reports strong second-quarter growth at its Autograph yacht brokerage division, led by higher transaction volume and listings.
Autograph completed 31 yacht deals versus 22 in Q1, nearly doubled total transaction volume, surpassed its first-year $100 million target, and expanded listing inventory and broker headcount.