NextBoat Inc. Announces Fiscal Second Quarter 2026 Results
Rhea-AI Summary
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.
Positive
- Revenue +88.4% YoY to $59.1 million in Q2 2026
- Gross profit +100.1% YoY to $9.5 million; margin 16.1% vs. 15.2%
- Record quarterly unit volume with 255 boats sold
- Adjusted EBITDA positive at $0.83 million, slightly above prior year
- Maintained full-year 2026 revenue guidance at $165–$170 million
- Total assets more than doubled to $100.5 million from $48.4 million
Negative
- Q2 swung to a $2.07 million net loss from $0.55 million income
- Six-month net loss $5.54 million vs. $0.84 million income prior year
- Q2 operating expenses up to $10.6 million from $3.7 million
- Q2 interest expense +109.6% YoY to $1.20 million
- Floor plan notes payable rose to $51.6 million from $25.3 million
- Cash balance declined to $7.7 million from $12.4 million year-end
News Explained
June 30 cash was $7,737,601 versus $12,428,774 at year-end, while the higher share count mechanically lowers existing holders’ ownership percentages.
The fiscal second-quarter results release reports the period ended
The supplied dilution definition describes this as a mechanical reduction in an existing holder’s ownership percentage when additional shares increase the total share count; the release does not quantify any holder-specific change.
The balance sheet reports cash and equivalents of
The latest supplied Q1 fundamentals show
The six-month adjusted EBITDA measure was a loss of
Sources and calculations
- NextBoat fiscal second-quarter 2026 results release (2026-08-13)
- Dilution definition (undated)
- NextBoat Q1 2026 fundamentals (2026Q1)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $5,330,457 / ($20,867,206 / 90) = [object Object]
Market reaction after 2Q26 earnings report: NXB -4.29% in the Aug 14 session
In the Aug 14 session, NXB declined 4.29%, reflecting a moderate negative market reaction. Argus tracked a trough of -9.7% from its starting point during tracking. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. Trading volume was exceptionally heavy at 18.7x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 04 | Earnings date notice | Neutral | +5.2% | Company scheduled Q2 results and conference call after market close |
| Jul 16 | Operating update | Positive | -3.7% | Preliminary record transaction activity and progress toward profitability |
| Jul 08 | Strategic partnership | Positive | +2.7% | MarineMax partnership expanded financing and insurance distribution opportunities |
| Jul 01 | Strategic partnership | Positive | -6.1% | MarineMax became preferred wholesale and trade-in partner |
| Jun 29 | Superyacht transaction | Positive | +2.0% | Autograph completed company-record superyacht brokerage transaction |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Positive or record-oriented announcements produced mixed outcomes, with both aligned and divergent reactions in the selected history.
Key Terms
adjusted ebitda financial
floor plan financing financial
non-gaap financial measures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second quarter 2026 revenue increased
Record number of units transacted,
WILMINGTON, NC / ACCESS Newswire / August 13, 2026 / NextBoat Inc. (NYSE American:NXB) ("NextBoat" or the "Company"), a vertically integrated, technology-driven marine marketplace and one of the largest buyers and sellers of used boats in the United States, today announced financial results for its second quarter ended June 30, 2026.
2026 Second Quarter Highlights
Revenue increased
88.4% to$59.1 million compared to$31.3 million in the second quarter of 2025Pre-owned boat sales increased
104.4% compared to the second quarter of 2025Sold 255 boats during the second quarter, a Company record
Gross profit increased
100.1% to$9.5 million compared to$4.8 million in the second quarter of 2025Expanded the Company's broker network to 111 brokers
Advanced strategic partnership with MarineMax, Inc. as NextBoat's preferred wholesale and trade-in partner
Executed 2 strategic acquisitions
Adjusted EBITDA1 of
$0.8 million
"We achieved record revenue of
"Transaction volume was up approximately
Second Quarter 2026 Results
Overall, revenue increased by
Gross profit increased by
Selling, general, and administrative expenses consist primarily of insurance, utilities, and other customary operating expenses. SG&A increased
Salaries and wages expense increased
Interest expense, net increased
The Company recorded a net loss of
Adjusted EBITDA1 was an income of
Fiscal 2026 Guidance
For full year 2026, the Company maintains its revenue guidance in a range of
Conference Call and Webcast
The Company will host an earnings conference call today, August 13, 2026, at 4:30 p.m. Eastern Time. To participate by telephone, please dial (833) 461-5787 (domestic), or (585) 542-9983 (international). The conference passcode is 366 467 666.
A live webcast of the conference call will be available in the Investor Relations section of the Company's website at https://investor.nextboat.com using the conference passcode 366 467 666. An online replay of the webcast will be available for a limited time immediately following the call.
About NextBoat Inc.
Founded in 2012, NextBoat Inc., previously known as Off The Hook YS Inc., is a vertically integrated, technology-driven marine marketplace transforming how boats are bought, sold, financed, and serviced across the United States. Through proprietary technology, transaction data, financing capabilities, and a growing national acquisition network, the Company operates across boat brokerage, wholesale inventory acquisition, auctions, financing, and marine services. NextBoat's ecosystem includes Off The Hook Yachts, Autograph Yacht Group, Azure Funding, and proprietary lead-generation platforms. Headquartered in Wilmington, North Carolina, NextBoat is rapidly expanding its national footprint and market share within the
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding NextBoat Inc. ("Company"), including, without limitation, statements regarding the Company's business strategy, technology platform, market opportunity, planned operations, and expected results and benefits. You can generally identify forward-looking statements by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "explore," "evaluate," "intend," "may," "might," "plan," "potential," "predict," "project," "seek," "should," or "will," or the negative of such terms thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on the Company's current plans, objectives, estimates, expectations, and intentions and inherently involve significant risks and uncertainties, many of which are beyond our control. Actual results, performance or achievements, including the timing of events, may differ materially from those expressed or implied by the forward-looking statements as a result of various risks and uncertainties, including those described under the heading "Risk Factors" in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other subsequent filings with the SEC. Copies of these filings are available on the SEC's website at www.sec.gov. Investors are cautioned that forward-looking statements are not guarantees of future performance, and are cautioned not to place undue reliance on any such forward-looking statements. The forward-looking statements made in this press release are made only as of the date hereof or as of the dates indicated in the forward-looking statements and reflect the views stated therein with respect to future events at such dates, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update, revise or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances occurring after the date such statements were made, except as required by applicable law.
Contact
Chad Corbin
Chief Financial Officer
chadcorbin@nextboat.com
Investor Relations
NEXTBOAT INC.
Condensed Consolidated Statements of Operations
(Unaudited)
For the Three and Six Months Ended June 30, 2026 and 2025
For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Revenues | $ | 59,063,204 | $ | 31,348,061 | $ | 88,906,943 | $ | 58,586,843 | ||||||||
Cost of revenues | 49,527,606 | 26,581,626 | 75,009,541 | 50,296,398 | ||||||||||||
Gross profit | 9,535,598 | 4,766,435 | 13,897,402 | 8,290,445 | ||||||||||||
Operating expenses: | ||||||||||||||||
Depreciation and amortization | 163,150 | 86,837 | 321,838 | 123,210 | ||||||||||||
Selling, general and administrative | 1,438,694 | 399,992 | 2,732,469 | 823,852 | ||||||||||||
Advertising and marketing | 349,410 | 47,609 | 940,303 | 376,655 | ||||||||||||
Professional services | 1,422,174 | 47,193 | 2,008,374 | 101,480 | ||||||||||||
Salaries and wages | 6,480,556 | 2,844,934 | 10,792,942 | 4,547,597 | ||||||||||||
Rent expenses | 715,563 | 227,403 | 1,003,418 | 384,561 | ||||||||||||
Total operating expenses | 10,569,547 | 3,653,968 | 17,799,344 | 6,357,355 | ||||||||||||
(Loss) Income from operations | (1,033,949 | ) | 1,112,467 | (3,901,942 | ) | 1,933,090 | ||||||||||
Other income (expenses): | ||||||||||||||||
Interest expense, net | (1,197,101 | ) | (571,214 | ) | (1,726,231 | ) | (1,116,512 | ) | ||||||||
Other income, net | (507 | ) | 12,588 | 92,126 | 27,037 | |||||||||||
Total other expenses | (1,197,608 | ) | (558,626 | ) | (1,634,105 | ) | (1,089,475 | ) | ||||||||
(Loss) profit before income taxes | (2,231,557 | ) | 553,841 | (5,536,047 | ) | 843,615 | ||||||||||
Income tax (benefit) expenses | (161,882 | ) | - | 1,150 | - | |||||||||||
Net (Loss) Income | (2,069,675 | ) | 553,841 | (5,537,197 | ) | 843,615 | ||||||||||
Net Loss attributed to non-controlling interest | (200,607 | ) | - | (200,607 | ) | - | ||||||||||
Net (Loss) Income attributed to Nextboat Inc. | (1,869,068 | ) | 553,841 | (5,336,590 | ) | 843,615 | ||||||||||
Basic and diluted net (loss) income per common share | (0.08 | ) | 0.03 | (0.22 | ) | 0.04 | ||||||||||
Basic and diluted weighted average common shares outstanding | 24,791,031 | 20,000,000 | 24,552,176 | 20,000,000 | ||||||||||||
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements
NEXTBOAT INC.
Condensed Consolidated Balance Sheets
As of June 30, 2026 and December 31, 2025
June 30, 2026 | December 31, 2025 | |||||||
(Unaudited) | (Audited) | |||||||
Assets | ||||||||
Current Assets | ||||||||
Cash and cash equivalents | $ | 7,737,601 | $ | 12,428,774 | ||||
Accounts receivable, net | 1,333,402 | 269,938 | ||||||
Inventory | 60,393,869 | 26,035,844 | ||||||
Prepaid expense | 1,397,605 | 706,256 | ||||||
Other current assets | 569,048 | 434,584 | ||||||
Total Current Assets | 71,431,525 | 39,875,396 | ||||||
Non-Current Assets | ||||||||
Property, plant and equipment, net | 3,998,268 | 823,231 | ||||||
Other receivable | - | 27,486 | ||||||
Due from related party | 69,912 | 44,623 | ||||||
Right-of-use assets | 18,920,775 | 6,516,415 | ||||||
Goodwill | 5,499,795 | 570,000 | ||||||
Intangible assets, net | 572,829 | 560,406 | ||||||
Total Non-Current Assets | 29,061,579 | 8,542,161 | ||||||
Total Assets | $ | 100,493,104 | $ | 48,417,557 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current Liabilities | ||||||||
Accounts payable | $ | 2,318,679 | $ | 1,471,198 | ||||
Accrued liabilities | 1,699,465 | 790,804 | ||||||
Lease liabilities, current | 2,550,653 | 963,731 | ||||||
Current portion of long-term debt | 1,969,226 | 32,453 | ||||||
Due to related party | 2,776,442 | 315,088 | ||||||
Customer deposits | 2,857,835 | 1,210,447 | ||||||
Short-term debt | 2,170,000 | - | ||||||
Floor plan notes payable | 51,561,686 | 25,312,694 | ||||||
Other current liabilities | 576,934 | 773,821 | ||||||
Total Current Liabilities | 68,480,920 | 30,870,236 | ||||||
Long-Term Liabilities | ||||||||
Long-term debt, noncurrent | 3,263,451 | 62,003 | ||||||
Lease liabilities, noncurrent | 16,690,631 | 5,650,165 | ||||||
Total Long-Term Liabilities | 19,954,082 | 5,712,168 | ||||||
Total Liabilities | 88,435,002 | 36,582,404 | ||||||
Stockholders' Equity | ||||||||
Common stock, | 25,084 | 24,020 | ||||||
Additional paid-in capital | 23,723,649 | 17,964,567 | ||||||
Common stock payable | 350,000 | 350,000 | ||||||
Non-controlling interest | (200,607 | ) | - | |||||
Accumulated deficit | (11,840,024 | ) | (6,503,434 | ) | ||||
Total Stockholders' Equity | 12,058,102 | 11,835,153 | ||||||
Total Liabilities and Stockholders' Equity | $ | 100,493,104 | $ | 48,417,557 | ||||
Non-GAAP Financial Information
To supplement NextBoat's financial information presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"), NextBoat presents certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA1. These non-GAAP financial measures, which are defined below, should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similarly titled measures presented by other companies.
NextBoat is presenting these non-GAAP financial measures to assist investors in seeing NextBoat's operating results through the eyes of management and because NextBoat believes that these measures provide a useful tool for investors to use in assessing NextBoat's operating performance against prior period operating results and against business objectives. NextBoat uses non-GAAP financial measures to evaluate its operating results and for financial and operational decision-making. Reconciliations of the non-GAAP financial measures presented to the most directly comparable GAAP financial measures are included in the tables below.
1Adjusted EBITDA
The Company defines Adjusted EBITDA as GAAP net income (loss) before interest expense, income taxes, depreciation and amortization, and certain additional adjustments, including stock-based compensation and other non-cash items or other items that management does not consider indicative of ongoing operating performance.
The Three Months Ended June 30, 2026, Compared to The Three Months Ended June 30, 2025
June 30, 2026 | June 30, 2025 | $ Change | ||||||||||
Net (loss) income | $ | (2,069,675 | ) | $ | 553,841 | $ | (2,623,516 | ) | ||||
Interest expense - other | 507,893 | 172,561 | 335,332 | |||||||||
Income tax expenses | (161,882 | ) | - | (161,882 | ) | |||||||
Depreciation and amortization | 163,150 | 86,837 | 76,313 | |||||||||
Stock-based compensation | 1,689,311 | - | 1,689,311 | |||||||||
Non-recurring expense | 701,008 | - | 701,008 | |||||||||
Adjusted EBITDA | $ | 829,805 | $ | 813,239 | $ | 16,566 | ||||||
The Six Months Ended June 30, 2026, Compared to The Six Months Ended June 30, 2025
June 30, 2026 | June 30, 2025 | $ Change | ||||||||||
Net (loss) income | $ | (5,537,197 | ) | $ | 843,615 | $ | (6,380,812 | ) | ||||
Interest expense - other | 521,484 | 172,561 | 348,923 | |||||||||
Income tax expenses | 1,150 | - | 1,150 | |||||||||
Depreciation and amortization | 321,838 | 123,210 | 198,628 | |||||||||
Stock-based compensation | 3,450,924 | - | 3,450,924 | |||||||||
Non-recurring expense | 701,008 | - | 701,008 | |||||||||
Adjusted EBITDA | $ | (540,793 | ) | $ | 1,139,386 | $ | (1,680,179 | ) | ||||
SOURCE: NextBoat Inc.
View the original press release on ACCESS Newswire