Financial Data and Key Metrics Changes - Revenue grew 15% to $473 million, driven by same-store sales growth of 9% and contributions from recent acquisitions [29][12] - Gross margins reached a record 35%, an increase of 540 basis points, attributed to improved margins on new and used boat sales and growth in higher-margin businesses [31][21] - Earnings per share (EPS) rose to a record $1.59, up over 50% from $1.04 a year ago [34][12] Business Line Data and Key Metrics Changes - Same-store sales growth was primarily driven by an increase in unit sales, despite industry-wide supply chain challenges [13][29] - The company reported strong performance across all brand categories and geographic regions, with customer deposits exceeding $144 million [14][15] Market Data and Key Metrics Changes - The marine industry continues to see strong consumer demand for boating, with a significant increase in customer deposits [14][56] - The supply chain environment is expected to remain challenging, but improvements were noted as the quarter progressed [16][38] Company Strategy and Development Direction - The company is focused on enhancing customer experiences through strategic growth plans, including acquisitions and expanding higher-margin businesses [19][26] - The management emphasized the importance of digital capabilities and marketing strategies to adapt to changing customer expectations [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite supply chain uncertainties, expecting mid-single-digit same-store sales growth and mid-teens total annual revenue growth [40][38] - The company anticipates modest gross margin pressure due to inflationary pressures but believes it can mitigate these effects [41][40] Other Important Information - The company has a strong balance sheet with over $216 million in cash and a current ratio of 1.57, providing a strategic advantage for future expansions [35][37] - Recent acquisitions, including Texas MasterCraft and Intrepid Powerboats, are expected to contribute positively to revenue and margins [23][63] Q&A Session Summary Question: Can you discuss the unit delivery cycle and January same-store sales? - Management indicated that while they expect positive same-store sales growth in January, supply chain challenges remain unpredictable [48] Question: Thoughts on share buybacks given current valuations? - Management acknowledged the potential for share buybacks while also considering long-term growth through acquisitions [50] Question: Insights on dealer traffic and first-time boaters? - Demand remains strong, with high levels of first-time boaters entering the market, although some hot models have long wait times [55] Question: Inventory levels and expectations for 2022? - Management expects inventory levels to remain lean, with potential increases if supply chain issues improve [62] Question: EPS guidance and contributions from recent acquisitions? - The guidance includes an estimated contribution of around $0.20 from the recent acquisitions for the full year [63] Question: Plans for monetizing waterfront real estate? - Management is exploring opportunities to leverage their real estate holdings, with a focus on acquiring properties at favorable valuations [64] Question: Confidence in consumer ability to pay higher prices? - Management noted that demand remains strong despite price increases, with high single-digit to double-digit price increases expected [77]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2021 Commission File Number 1-14173 MarineMax, Inc. (Exact Name of Registrant as Specified in Its Charter) Florida 59-3496957 (State of Incorporation) (I.R.S. Employer Identification No.) 2600 McCormick Drive Suite 200 Clearwater, Florida 33759 (727) 531-1700 (Address, including zip code, and telephone n ...

MarineMax, Inc. (NYSE:HZO) Q4 2021 Earnings Conference Call October 26, 2021 10:00 AM ET Company Participants Dawn Francfort - ICR, Investor Relations Mike McLamb - Chief Financial Officer Brett McGill - President & Chief Executive Officer Conference Call Participants Mike Swartz - Truist Eric Wold - B. Riley Scott Stember - C.L. King Sean Wagner - Wedbush Securities Joe Nolan - Longbow Research Operator Good morning and welcome to MarineMax Inc. 2021 Fiscal Fourth Quarter and Year-End Conference Call. Toda ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2021. Commission File Number. 1-14173 MARINEMAX, INC. 2600 McCormick Drive, Suite 200 Clearwater, Florida 33759 (Address of Principal Executive Offices) (ZIP Code) 727-531-1700 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: | Title of e ...

MarineMax, Inc. (NYSE:HZO) Q3 2021 Earnings Conference Call July 22, 2021 10:00 AM ET Company Participants Dawn Francfort - ICR, Investor Relations Michael McLamb - Executive Vice President, Chief Financial Officer, Secretary & Director Brett McGill - President, Chief Executive Officer & Director Conference Call Participants Joseph Altobello - Raymond James & Associates James Hardiman - Wedbush Securities Eric Wold - B. Riley Securities Joe Nolan - Longbow Research Operator Good morning, and welcome to the ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|--------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | UNITED Jy WA MARINEMAX | | | t | | | | | | | | | | al a | | | | | | | | | | | | | t 34 | | | | | | | | | | | | | | | | | | | | | | | | | | and the said in the substition productions | | | | | | 2 DISCLAIMER Information contained in this presentation, other than h ...

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited condensed consolidated financial statements for periods ended March 31, 2021, show significant growth in revenue and net income, increased assets, and a shift to positive operating cash flow [Condensed Consolidated Statements of Operations](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The statements show substantial revenue growth of **69.6%** to **$523.1 million** and net income surge of **668.7%** to **$38.9 million** for the three months ended March 31, 2021 Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended Mar 31, 2021 | Three Months Ended Mar 31, 2020 | Change (%) | Six Months Ended Mar 31, 2021 | Six Months Ended Mar 31, 2020 | Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $523,095 | $308,475 | 69.6% | $934,618 | $612,647 | 52.6% | | **Gross Profit** | $156,806 | $78,776 | 99.0% | $280,207 | $158,794 | 76.4% | | **Income from Operations** | $52,870 | $9,716 | 444.1% | $84,853 | $25,348 | 234.7% | | **Net Income** | $38,935 | $5,065 | 668.7% | $62,535 | $14,124 | 342.8% | | **Diluted EPS** | $1.69 | $0.23 | 634.8% | $2.73 | $0.64 | 326.6% | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$925.1 million** as of March 31, 2021, driven by acquisitions and operating lease assets, while short-term borrowings significantly decreased Balance Sheet Summary (in thousands) | Account | March 31, 2021 | September 30, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $515,054 | $503,327 | | **Total Assets** | $925,126 | $775,319 | | **Total Current Liabilities** | $240,176 | $272,534 | | **Total Liabilities** | $401,822 | $319,922 | | **Total Shareholders' Equity** | $523,304 | $455,397 | - Short-term borrowings decreased substantially to **$35.8 million** at March 31, 2021, from **$144.4 million** at September 30, 2020[16](index=16&type=chunk) - Goodwill and other intangible assets increased from **$84.3 million** to **$142.2 million**, largely due to the SkipperBud's acquisition[16](index=16&type=chunk)[57](index=57&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly improved to **$146.6 million** for the six months ended March 31, 2021, driven by higher net income and working capital management Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended Mar 31, 2021 | Six Months Ended Mar 31, 2020 | | :--- | :--- | :--- | | **Net cash from Operating Activities** | $146,640 | $(18,608) | | **Net cash from Investing Activities** | $(64,260) | $(5,125) | | **Net cash from Financing Activities** | $(95,094) | $49,569 | | **Net (Decrease) Increase in Cash** | $(12,605) | $25,895 | | **Cash at End of Period** | $142,888 | $64,406 | - Cash used in acquisitions was **$50.3 million** for the six months ended March 31, 2021, compared to **$1.4 million** in the prior year period[21](index=21&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail business background, accounting policies, and key financial components, including the SkipperBud's acquisition, revenue recognition, and credit facility terms - The company is the largest recreational boat and yacht retailer in the U.S., operating **77 retail locations** in **21 states** as of March 31, 2021[23](index=23&type=chunk) - In October 2020, the company acquired SkipperBud's for an aggregate purchase price of **$55 million**, plus a potential earnout of up to **$9.3 million**, adding approximately **$56.4 million** in goodwill[26](index=26&type=chunk)[52](index=52&type=chunk)[55](index=55&type=chunk) - Revenue from goods and services transferred at a point in time constituted **93.1%** of total revenue for the three months ended March 31, 2021[44](index=44&type=chunk) - The company has a **$440 million** credit facility expiring in May 2023, with **$35.8 million** outstanding and approximately **$181 million** additional availability as of March 31, 2021[60](index=60&type=chunk)[63](index=63&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong performance to robust consumer demand, leading to significant comparable-store sales growth, expanded gross margins, improved operating leverage, and strong liquidity [Consolidated Results of Operations](index=23&type=section&id=Consolidated%20Results%20of%20Operations) Revenue increased **69.6%** to **$523.1 million** for the three months ended March 31, 2021, driven by comparable-store sales and acquisitions, with gross margin improving to **30.0%** Q2 FY2021 vs Q2 FY2020 Performance (Three Months Ended March 31) | Metric | 2021 | 2020 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | $523.1M | $308.5M | +69.6% | | **Comparable-Store Sales** | - | - | +45.5% | | **Gross Profit** | $156.8M | $78.8M | +99.0% | | **Gross Margin** | 30.0% | 25.5% | +450 bps | | **SG&A as % of Revenue** | 19.9% | 22.4% | -250 bps | H1 FY2021 vs H1 FY2020 Performance (Six Months Ended March 31) | Metric | 2021 | 2020 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | $934.6M | $612.6M | +52.6% | | **Comparable-Store Sales** | - | - | +32.9% | | **Gross Profit** | $280.2M | $158.8M | +76.4% | | **Gross Margin** | 30.0% | 25.9% | +410 bps | | **SG&A as % of Revenue** | 20.9% | 21.8% | -90 bps | - The increase in gross profit margin was primarily due to demand-driven increases in new and used boat margins and growth in higher-margin businesses, including contributions from the Northrop & Johnson acquisition[98](index=98&type=chunk)[103](index=103&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position, with **$146.6 million** cash from operations and **$181 million** available under its credit facility, ensuring adequate resources for future needs - Cash provided by operating activities was **$146.6 million** for the six months ended March 31, 2021, a stark contrast to the **$18.6 million** used in the same period of 2020[110](index=110&type=chunk) - The company has a **$440 million** credit facility with leverage and current ratio covenants, and was in compliance with all covenants as of March 31, 2021[109](index=109&type=chunk)[114](index=114&type=chunk) - As of March 31, 2021, additional available borrowings under the Credit Facility were approximately **$181 million**[117](index=117&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rates and foreign currency exchange rates, with a **100 basis point** interest rate increase impacting pre-tax expense by **$0.4 million** - A hypothetical **100 basis point** increase in interest rates would raise annual pre-tax interest expense by about **$0.4 million**, based on the short-term debt balance as of March 31, 2021[122](index=122&type=chunk) - The company faces foreign currency exchange risk from products purchased from European and Chinese manufacturers, which could affect product pricing and profitability, and is not currently using hedging transactions[123](index=123&type=chunk) [Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, and the company is implementing internal controls for the newly acquired SkipperBud's subsidiary - The CEO and CFO evaluated disclosure controls and procedures and found them to be effective at a reasonable assurance level as of the end of the reporting period[126](index=126&type=chunk) - Following the acquisition of SkipperBud's on October 1, 2020, the company is implementing its standard accounting processes and internal controls over financial reporting for the new subsidiary[127](index=127&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal actions arising in the ordinary course of business, which are not expected to have a material adverse effect - The company is party to various legal actions arising in the ordinary course of business, which are not expected to have a material adverse effect[131](index=131&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) No new risk factors were disclosed in this quarterly report - No new risk factors were disclosed in this quarterly report[132](index=132&type=chunk) [Exhibits](index=28&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including executive retention agreements and CEO/CFO certifications - Exhibits filed include CEO and CFO certifications (**31.1, 31.2, 32.1, 32.2**) and Key Executive Retention Agreements[138](index=138&type=chunk)

MarineMax, Inc. (NYSE:HZO) Q2 2021 Earnings Conference Call April 22, 2021 10:00 AM ET Company Participants Dawn Francfort - ICR Michael McLamb - EVP, CFO, Secretary & Director Brett McGill - CEO, President & Director Conference Call Participants Frederick Wightman - Wolfe Research Joseph Altobello - Raymond James & Associates Michael Swartz - Truist Securities James Hardiman - Wedbush Securities Colton West - Longbow Research Operator Good morning, and welcome to the MarineMax, Inc. 2021 Fiscal Second Qua ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-----------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | UNITED Jy WA MARINEMAX | | | t | | | | | | | | | | al a | | | | | | | | | | | | | t 34 | | | | | | | | | | | | | | | | | | | | | | | | | | and the said in the state to production | | | | | | 2 DISCLAIMER Information contained in this presentation, other than histori ...

PART I. FINANCIAL INFORMATION This section provides MarineMax, Inc.'s unaudited condensed consolidated financial statements, management's discussion and analysis of operations, market risk disclosures, and internal controls evaluation for the three months ended December 31, 2020 [ITEM 1. Financial Statements (Unaudited)](index=3&type=section&id=ITEM%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements of MarineMax, Inc. for the three months ended December 31, 2020 and 2019, including statements of operations, comprehensive income, balance sheets, shareholders' equity, and cash flows, along with detailed notes explaining accounting policies, acquisitions, debt, and equity compensation [Condensed Consolidated Statements of Operations](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations Table | Metric | 3 Months Ended Dec 31, 2019 (in thousands) | 3 Months Ended Dec 31, 2020 (in thousands) | Change (%) | | :--------------------------------- | :--------------------------------------- | :--------------------------------------- | :--------- | | Revenue | $304,172 | $411,524 | 35.3% | | Cost of sales | $224,154 | $288,123 | 28.5% | | Gross profit | $80,018 | $123,401 | 54.2% | | Selling, general, and administrative expenses | $64,386 | $91,417 | 42.0% | | Income from operations | $15,632 | $31,984 | 104.6% | | Interest expense | $3,344 | $1,268 | -62.1% | | Income before income tax provision | $12,288 | $30,716 | 150.0% | | Income tax provision | $3,229 | $7,116 | 120.4% | | Net income | $9,059 | $23,600 | 160.5% | | Basic net income per common share | $0.42 | $1.07 | 154.8% | | Diluted net income per common share | $0.41 | $1.04 | 153.7% | [Condensed Consolidated Statements of Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Condensed Consolidated Statements of Comprehensive Income Table | Metric | 3 Months Ended Dec 31, 2019 (in thousands) | 3 Months Ended Dec 31, 2020 (in thousands) | Change (%) | | :---------------------------------- | :--------------------------------------- | :--------------------------------------- | :--------- | | Net income | $9,059 | $23,600 | 160.5% | | Foreign currency translation adjustments | $606 | $1,115 | 84.0% | | Interest rate swap contract | $— | $(195) | N/A | | Total other comprehensive income, net of tax | $606 | $920 | 51.8% | | Comprehensive income | $9,665 | $24,520 | 153.7% | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheets Table | Asset/Liability/Equity | Sep 30, 2020 (in thousands) | Dec 31, 2020 (in thousands) | Change (in thousands) | Change (%) | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------- | :--------- | | **ASSETS** | | | | | | Cash and cash equivalents | $155,493 | $120,939 | $(34,554) | -22.2% | | Inventories, net | $298,002 | $378,863 | $80,861 | 27.1% | | Total current assets | $503,327 | $558,386 | $55,059 | 10.9% | | Property and equipment, net | $141,934 | $149,657 | $7,723 | 5.4% | | Operating lease right-of-use assets, net | $37,991 | $105,633 | $67,642 | 178.0% | | Goodwill and other intangible assets, net | $84,293 | $143,114 | $58,821 | 69.8% | | Total assets | $775,319 | $964,888 | $189,569 | 24.4% | | **LIABILITIES** | | | | | | Short-term borrowings | $144,393 | $163,394 | $19,001 | 13.2% | | Contract liabilities (customer deposits) | $31,821 | $55,389 | $23,568 | 74.1% | | Total current liabilities | $272,534 | $321,184 | $48,650 | 17.8% | | Long-term debt, net of current maturities | $7,343 | $50,124 | $42,781 | 582.6% | | Total liabilities | $319,922 | $482,306 | $162,384 | 50.8% | | **SHAREHOLDERS' EQUITY** | | | | | | Total shareholders' equity | $455,397 | $482,582 | $27,185 | 6.0% | [Condensed Consolidated Statements of Shareholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Condensed Consolidated Statements of Shareholders' Equity Table | Metric | Sep 30, 2020 (in thousands) | Dec 31, 2020 (in thousands) | Change (in thousands) | | :--------------------------------- | :-------------------------- | :-------------------------- | :-------------------- | | Total Shareholders' Equity | $455,397 | $482,582 | $27,185 | | Net income | — | $23,600 | $23,600 | | Additional Paid-in Capital | $280,436 | $283,101 | $2,665 | | Accumulated Other Comprehensive Income | $829 | $1,749 | $920 | | Retained Earnings | $277,699 | $301,299 | $23,600 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows Table | Cash Flow Activity | 3 Months Ended Dec 31, 2019 (in thousands) | 3 Months Ended Dec 31, 2020 (in thousands) | Change (in thousands) | | :----------------------------------- | :--------------------------------------- | :--------------------------------------- | :-------------------- | | Net cash used in operating activities | $(19,298) | $(12,839) | $6,459 | | Net cash used in investing activities | $(4,398) | $(55,177) | $(50,779) | | Net cash provided by financing activities | $20,962 | $33,095 | $12,133 | | Net decrease in cash and cash equivalents | $(2,526) | $(34,554) | $(32,028) | | Cash and cash equivalents, end of period | $35,985 | $120,939 | $84,954 | - Cash used in investing activities in Q1 FY2021 included **$48.3 million** for business acquisitions, net of cash acquired, a **significant increase** from no acquisitions in the prior year period[21](index=21&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) [1. Company Background](index=8&type=section&id=1.%20COMPANY%20BACKGROUND) - MarineMax is the **largest recreational boat and yacht retailer in the U.S.**, with **77 retail locations in 21 states** and international operations (Fraser Yachts Group, Northrop & Johnson)[23](index=23&type=chunk) - The company completed the acquisition of SkipperBud's in **October 2020**, **significantly increasing its presence** in the Great Lakes region and West Coast[26](index=26&type=chunk) 1. Company Background Table | Manufacturer | % of Revenue (Fiscal 2020) | Exclusivity | | :----------- | :------------------------- | :---------- | | Brunswick (total) | ~33% | N/A | | Sea Ray (Brunswick) | ~15% | Exclusive in geographic markets | | Boston Whaler (Brunswick) | ~16% | Exclusive in geographic markets | | Azimut Yachts (Azimut-Benetti Group) | ~9% | Exclusive for entire U.S. | [2. Basis of Presentation](index=9&type=section&id=2.%20BASIS%20OF%20PRESENTATION) - Financial statements are **unaudited** and prepared under GAAP for interim reporting, with **all significant intercompany transactions eliminated**[32](index=32&type=chunk)[35](index=35&type=chunk) - Significant estimates include **valuation allowances, goodwill and intangible assets, long-lived assets, and accruals**, which could differ from actual results[33](index=33&type=chunk) [3. New Accounting Pronouncements](index=10&type=section&id=3.%20NEW%20ACCOUNTING%20PRONOUNCEMENTS) - Adopted **ASU 2018-15** (Cloud Computing Arrangement Costs) and **ASU 2016-13** (Financial Instruments — Credit Losses) effective **October 1, 2020**[37](index=37&type=chunk)[38](index=38&type=chunk) - The adoption of these new accounting standards had **no impact** on the consolidated financial statements[37](index=37&type=chunk)[38](index=38&type=chunk) [4. Revenue Recognition](index=10&type=section&id=4.%20REVENUE%20RECOGNITION) - Revenue from boat, motor, and trailer sales, and brokerage commissions, is recognized at a **point in time** upon customer acceptance or delivery[39](index=39&type=chunk) - Revenue from parts and service operations, slip and storage, and yacht chartering is recognized **over time** as services are performed or over the contract term[41](index=41&type=chunk)[43](index=43&type=chunk) 4. Revenue Recognition Table | Timing of Revenue Recognition | 3 Months Ended Dec 31, 2019 | 3 Months Ended Dec 31, 2020 | | :-------------------------------- | :-------------------------- | :-------------------------- | | Goods and services transferred at a point in time | 90.8% | 90.5% | | Goods and services transferred over time | 9.2% | 9.5% | [5. Leases](index=11&type=section&id=5.%20LEASES) - Majority of leases are real estate leases for showrooms, marinas, service facilities, and corporate headquarters, **all classified as operating leases**[45](index=45&type=chunk) 5. Leases Table | Metric | 3 Months Ended Dec 31, 2019 (in thousands) | 3 Months Ended Dec 31, 2020 (in thousands) | Change (in thousands) | Change (%) | | :------------------------------------------------ | :--------------------------------------- | :--------------------------------------- | :-------------------- | :--------- | | Operating lease expenses | $3,300 | $5,800 | $2,500 | 75.8% | | Operating cash flows from operating leases | $2,588 | $4,296 | $1,708 | 66.0% | | Right-of-use assets obtained in exchange for lease obligations | $560 | $70,275 | $69,715 | 12449.1% | - **Weighted-average remaining lease term is approximately 13 years**, and the **weighted-average discount rate used for lease liabilities as of December 31, 2020, was approximately 5.7%**[45](index=45&type=chunk)[48](index=48&type=chunk) [6. Inventories](index=12&type=section&id=6.%20INVENTORIES) - New and used boat, motor, and trailer inventories are valued at the **lower of cost (specific-identification) or net realizable value**[50](index=50&type=chunk) 6. Inventories Table | Inventory Valuation Allowance | Sep 30, 2020 (in millions) | Dec 31, 2020 (in millions) | | :---------------------------- | :------------------------- | :------------------------- | | New and used boat, motor, and trailer inventories | $2.4 | $2.3 | [7. Impairment of Long-Lived Assets](index=12&type=section&id=7.%20IMPAIRMENT%20OF%20LONG-LIVED%20ASSETS) - Long-lived assets are reviewed for impairment based on undiscounted future net cash flows[51](index=51&type=chunk) - **No impairment of long-lived assets was believed to exist** as of December 31, 2020[51](index=51&type=chunk) [8. Goodwill](index=12&type=section&id=8.%20GOODWILL) - Goodwill **increased significantly** due to the acquisition of SkipperBud's in **October 2020** for **$55 million**, including a contingent consideration arrangement of **$8.2 million**[52](index=52&type=chunk)[53](index=53&type=chunk)[55](index=55&type=chunk) 8. Goodwill Table | Metric | Sep 30, 2020 (in millions) | Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :-------------------------------- | :------------------------- | :------------------------- | :------------------- | :--------- | | Goodwill and other intangible assets, net | $84.3 | $143.1 | $58.8 | 69.8% | - The SkipperBud's acquisition added approximately **$56.4 million** in goodwill and **$2.0 million** in other identifiable intangibles (trade name and customer relationships)[55](index=55&type=chunk) - Goodwill is tested for impairment at least **annually**; a qualitative assessment as of **December 31, 2020**, indicated **no impairment was likely**[57](index=57&type=chunk) [9. Income Taxes](index=13&type=section&id=9.%20INCOME%20TAXES) - Deferred tax assets and liabilities are recognized for **future tax consequences of temporary differences**[58](index=58&type=chunk) 9. Income Taxes Table | Metric | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :-------------------- | :--------------------------------------- | :--------------------------------------- | :------------------- | :--------- | | Income tax provision | $3.2 | $7.1 | $3.9 | 121.9% | | Effective income tax rate | 26.3% | 23.2% | -3.1% | -11.8% | - The decrease in the effective income tax rate was **primarily attributed to excess equity compensation for tax purposes**[117](index=117&type=chunk) [10. Short-Term Borrowings and Long-Term Debt](index=14&type=section&id=10.%20SHORT-TERM%20BORROWINGS%20AND%20LONG-TERM%20DEBT) - The company has a **$440 million Credit Facility** for working capital and inventory financing, expiring in **May 2023**, with **$133.4 million additional available borrowings** as of **December 31, 2020**[60](index=60&type=chunk)[63](index=63&type=chunk) 10. Short-Term Borrowings and Long-Term Debt Table | Metric | Dec 31, 2019 (in thousands) | Dec 31, 2020 (in thousands) | Change (in thousands) | Change (%) | | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------- | :--------- | | Short-term borrowings | N/A | $163,394 | N/A | N/A | | Interest rate on short-term borrowings | 5.6% | 4.2% | -1.4% | -25.0% | | Long-term debt, net of current maturities | N/A | $50,124 | N/A | N/A | - The company was in **compliance with all Credit Facility covenants** (leverage ratio not exceeding **2.75 to 1.0**, current ratio greater than **1.2 to 1.0**) as of **December 31, 2020**[61](index=61&type=chunk) [11. Stock-Based Compensation](index=15&type=section&id=11.%20STOCK-BASED%20COMPENSATION) 11. Stock-Based Compensation Table | Metric | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :----------------------------- | :--------------------------------------- | :--------------------------------------- | :------------------- | :--------- | | Stock-based compensation expense | $1.5 | $2.0 | $0.5 | 33.3% | | Cash received from option exercises | $0.6 | $1.5 | $0.9 | 150.0% | - Compensation for options is valued using the **Black-Scholes model**, while restricted stock awards and units are measured at **fair value on the grant date**[68](index=68&type=chunk) [12. The Incentive Stock Plans](index=15&type=section&id=12.%20THE%20INCENTIVE%20STOCK%20PLANS) - The **2011 Stock-Based Compensation Plan** was amended in **February 2020** to increase authorized shares to **4,200,456** and extended to **February 2030**[71](index=71&type=chunk) 12. The Incentive Stock Plans Table | Metric | Sep 30, 2020 | Dec 31, 2020 | Change | | :-------------------------------- | :----------- | :----------- | :------- | | Shares Available for Grant | 1,275,415 | 950,547 | -324,868 | | Options Outstanding | 196,329 | 129,583 | -66,746 | | Aggregate Intrinsic Value (in thousands) | $2,636 | $3,116 | $480 | | Weighted Average Exercise Price | $12.12 | $11.71 | -$0.41 | - Total intrinsic value of options exercised **increased from $0.1 million in Q1 FY2020 to $1.1 million in Q1 FY2021**[73](index=73&type=chunk) [13. Employee Stock Purchase Plan](index=16&type=section&id=13.%20EMPLOYEE%20STOCK%20PURCHASE%20PLAN) - The **Employee Stock Purchase Plan** was amended in **February 2019**, increasing available shares to **1,500,000**[75](index=75&type=chunk) - Employees can purchase common stock at **85% of the closing price** on the first or last day of the offering, whichever is lower[75](index=75&type=chunk) 13. Employee Stock Purchase Plan Table | Black-Scholes Assumption | 3 Months Ended Dec 31, 2019 | 3 Months Ended Dec 31, 2020 | Change | | :----------------------- | :-------------------------- | :-------------------------- | :----- | | Risk-free interest rate | 1.8% | 0.1% | -1.7% | | Volatility | 52.4% | 70.2% | 17.8% | [14. Restricted Stock Awards](index=17&type=section&id=14.%20RESTRICTED%20STOCK%20AWARDS) - Restricted stock awards and RSUs generally vest over **two to four years**, with performance-based awards for officers ranging from **0% to 175% of target shares**[79](index=79&type=chunk) 14. Restricted Stock Awards Table | Metric | Sep 30, 2020 | Dec 31, 2020 | | :-------------------------------- | :----------- | :----------- | | Non-vested balance (Shares/Units) | 902,631 | 1,083,097 | | Awards granted (Shares/Units) | N/A | 336,091 | | Awards vested (Shares/Units) | N/A | (152,625) | | Unrecognized compensation cost (in millions) | N/A | $16.3 | | Weighted average recognition period | N/A | 2.6 years | [15. Net Income Per Share](index=17&type=section&id=15.%20NET%20INCOME%20PER%20SHARE) 15. Net Income Per Share Table | Metric | 3 Months Ended Dec 31, 2019 | 3 Months Ended Dec 31, 2020 | Change | | :---------------------------------------------------- | :-------------------------- | :-------------------------- | :----- | | Weighted average common shares outstanding (basic) | 21,453,914 | 22,025,898 | 571,984 | | Effect of dilutive options and non-vested restricted stock awards | 436,151 | 719,227 | 283,076 | | Weighted average common and common equivalent shares (diluted) | 21,890,065 | 22,745,125 | 855,060 | - Approximately **30,807 weighted average options** were anti-dilutive and excluded from diluted EPS calculation in **Q1 FY2021**[81](index=81&type=chunk) [16. Commitments and Contingencies](index=17&type=section&id=16.%20COMMITMENTS%20AND%20CONTINGENCIES) - The company is party to various legal actions arising in the **ordinary course of business**[82](index=82&type=chunk) - These legal matters are **not expected to have a material adverse effect** on the company's financial condition, results of operations, or cash flows as of **December 31, 2020**[82](index=82&type=chunk) [ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) This section provides management's perspective on MarineMax's financial condition and results of operations, highlighting the impact of COVID-19, strategic acquisitions, critical accounting policies, and a detailed comparison of financial performance for the three months ended December 31, 2020, versus 2019. It also discusses liquidity, capital resources, and the effects of seasonality and weather [General](index=18&type=section&id=General) - **COVID-19 impacts remain unpredictable**, but the company is **operating safely**, offering virtual appointments, and **leveraging its digital platform**[84](index=84&type=chunk) - MarineMax is the **largest recreational boat and yacht retailer in the U.S.**, with **fiscal 2020 revenue over $1.5 billion**, **operating 77 retail locations in 21 states**[85](index=85&type=chunk) - **Acquisitions, including SkipperBud's in October 2020 and Northrop & Johnson in July 2020, remain a key growth strategy**[85](index=85&type=chunk)[86](index=86&type=chunk)[90](index=90&type=chunk) - The business is **susceptible to general economic conditions**, consumer discretionary spending on luxury goods, and local influences (e.g., weather), particularly in Florida, which accounts for approximately **54% of revenue**[87](index=87&type=chunk)[88](index=88&type=chunk) [Application of Critical Accounting Policies](index=19&type=section&id=Application%20of%20Critical%20Accounting%20Policies) - Management makes **significant estimates and assumptions** for financial reporting, particularly for valuation allowances, goodwill, intangible assets, long-lived assets, and accruals[92](index=92&type=chunk) - Actual results could differ significantly from these estimates under different assumptions and conditions[92](index=92&type=chunk) [Revenue Recognition](index=19&type=section&id=Revenue%20Recognition_Critical_Policy) - Revenue from boat, motor, and trailer sales is recognized at a **point in time** upon customer acceptance or delivery[93](index=93&type=chunk) - Commissions from third-party financing and extended warranty contracts are recognized when related boat sales occur or terms are accepted[94](index=94&type=chunk) - Revenue from parts and service operations, slip and storage, and yacht chartering is recognized **over time**[95](index=95&type=chunk)[97](index=97&type=chunk) [Vendor Consideration Received](index=20&type=section&id=Vendor%20Consideration%20Received) - Interest assistance from manufacturers is classified as a reduction of inventory cost and related cost of sales[98](index=98&type=chunk) - Co-op assistance programs from manufacturers are netted against related advertising expenses[98](index=98&type=chunk) [Inventories](index=20&type=section&id=Inventories_Critical_Policy) - New and used boat, motor, and trailer inventories are stated at the **lower of cost (specific-identification) or net realizable value**[99](index=99&type=chunk) Inventories Table | Inventory Valuation Allowance | Sep 30, 2020 (in millions) | Dec 31, 2020 (in millions) | | :---------------------------- | :------------------------- | :------------------------- | | New and used boat, motor, and trailer inventories | $2.4 | $2.3 | [Goodwill](index=20&type=section&id=Goodwill_Critical_Policy) - **Goodwill and other intangible assets increased from $84.3 million (Sep 30, 2020) to $143.1 million (Dec 31, 2020) due to acquisitions**, including SkipperBud's, Northrop & Johnson, and Boatyard[100](index=100&type=chunk) - Goodwill is reviewed for impairment at least **annually**; a qualitative assessment as of **December 31, 2020**, determined **no impairment was likely**[100](index=100&type=chunk)[101](index=101&type=chunk) [Impairment of Long-Lived Assets](index=22&type=section&id=Impairment%20of%20Long-Lived%20Assets_Critical_Policy) - Long-lived assets are reviewed for impairment when events indicate the carrying amount may not be recoverable, measured by comparing to undiscounted future net cash flows[102](index=102&type=chunk) - **No impairment of long-lived assets was believed to exist** as of December 31, 2020[102](index=102&type=chunk) [Stock-Based Compensation](index=22&type=section&id=Stock-Based%20Compensation_Critical_Policy) - Stock-based compensation is accounted for under ASC 718, using the **Black-Scholes model** for options and **fair value** for restricted stock awards/units[103](index=103&type=chunk) - Valuation models require judgments on stock price volatility, dividend yield, employee turnover, and exercise behaviors[103](index=103&type=chunk) [Income Taxes](index=22&type=section&id=Income%20Taxes_Critical_Policy) - Deferred tax assets and liabilities are recognized for temporary differences, with valuation allowances recorded as needed[104](index=104&type=chunk) - The CARES Act, which allows NOL carrybacks and increased interest deduction limits, did not result in material adjustments to the income tax provision or net deferred tax assets for the three months ended December 31, 2020[107](index=107&type=chunk)[108](index=108&type=chunk) [Recent Accounting Pronouncements](index=23&type=section&id=Recent%20Accounting%20Pronouncements) - **Refer to Note 3 for details on new accounting pronouncements**[110](index=110&type=chunk) [Consolidated Results of Operations](index=23&type=section&id=Consolidated%20Results%20of%20Operations) - The discussion compares financial results for the three months ended December 31, 2020, with the same period in 2019[111](index=111&type=chunk) [Three Months Ended December 31, 2020 Compared with Three Months Ended December 31, 2019](index=23&type=section&id=Three%20Months%20Ended%20December%2031,%202020%20Compared%20with%20Three%20Months%20Ended%20December%2031,%202019) [Revenue](index=23&type=section&id=Revenue_Results) Revenue Table | Metric | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :----- | :--------------------------------------- | :--------------------------------------- | :------------------- | :--------- | | Revenue | $304.2 | $411.5 | $107.3 | 35.3% | - Revenue increase was due to a **20.2% rise in comparable-store sales** and **$45.8 million from new stores and acquisitions**[112](index=112&type=chunk) [Gross Profit](index=23&type=section&id=Gross%20Profit_Results) Gross Profit Table | Metric | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :--------- | :--------------------------------------- | :--------------------------------------- | :------------------- | :--------- | | Gross profit | $80.0 | $123.4 | $43.4 | 54.2% | | Gross profit as % of revenue | 26.3% | 30.0% | 3.7% | 14.1% | - Margin expansion was driven by **demand-driven increases in new and used boat margins** and **higher-margin businesses**, including Northrop & Johnson[113](index=113&type=chunk) [Selling, General, and Administrative Expenses](index=23&type=section&id=Selling,%20General,%20and%20Administrative%20Expenses_Results) Selling, General, and Administrative Expenses Table | Metric | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :------------------------------------ | :--------------------------------------- | :--------------------------------------- | :------------------- | :--------- | | Selling, General, and Administrative Expenses | $64.4 | $91.4 | $27.0 | 42.0% | - Increase in SG&A was driven by **higher revenue from comparable-store sales and acquisitions**[114](index=114&type=chunk) [Interest Expense](index=23&type=section&id=Interest%20Expense_Results) Interest Expense Table | Metric | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :------------- | :--------------------------------------- | :--------------------------------------- | :------------------- | :--------- | | Interest expense | $3.3 | $1.3 | $(2.0) | -60.6% | | Interest expense as % of revenue | 1.1% | 0.3% | -0.8% | -72.7% | - Decrease in interest expense was **primarily due to decreased interest rates and lower borrowings**[115](index=115&type=chunk) [Income Taxes](index=23&type=section&id=Income%20Taxes_Results) Income Taxes Table | Metric | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | Change (%) | | :-------------------- | :--------------------------------------- | :--------------------------------------- | :------------------- | :--------- | | Income tax expense | $3.2 | $7.1 | $3.9 | 121.9% | | Effective income tax rate | 26.3% | 23.2% | -3.1% | -11.8% | - The decrease in the effective income tax rate was **primarily attributed to excess equity compensation for tax purposes**[117](index=117&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) - Cash needs are primarily for **working capital, inventory, and growth through acquisitions**, financed by cash from operations and the Credit Facility[118](index=118&type=chunk)[119](index=119&type=chunk) Liquidity and Capital Resources Table | Cash Flow Activity | 3 Months Ended Dec 31, 2019 (in millions) | 3 Months Ended Dec 31, 2020 (in millions) | Change (in millions) | | :----------------------------------- | :--------------------------------------- | :--------------------------------------- | :------------------- | | Net cash used in operating activities | $(19.3) | $(12.8) | $6.5 | | Net cash used in investing activities | $(4.4) | $(55.2) | $(50.8) | | Net cash provided by financing activities | $21.0 | $33.1 | $12.1 | - As of **December 31, 2020**, the company had **$163.4 million in short-term borrowings** and **$50.1 million in long-term debt**, with **$133.4 million available** under its Credit Facility[127](index=127&type=chunk)[128](index=128&type=chunk) - Management believes existing capital resources will be **adequate for the next 12 months**, excluding possible significant acquisitions[129](index=129&type=chunk) [Impact of Seasonality and Weather on Operations](index=25&type=section&id=Impact%20of%20Seasonality%20and%20Weather%20on%20Operations) - The recreational boating industry is **highly seasonal**, with **lower sales and higher inventories** typically in the December and March quarters, except in Florida[130](index=130&type=chunk) - Business is subject to **adverse weather patterns** (e.g., prolonged winters, droughts, excessive rain, hurricanes) which can curtail customer demand and disrupt operations[131](index=131&type=chunk) [ITEM 3. Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section outlines MarineMax's exposure to market risks, specifically interest rate risk due to variable-rate short-term debt and foreign currency exchange rate risk from international purchases and operations, and the potential impact of these risks on financial performance [Interest Rate Risk](index=25&type=section&id=Interest%20Rate%20Risk) - All short-term debt bears **variable interest tied to LIBOR**, exposing the company to **interest rate risk**[132](index=132&type=chunk) - A hypothetical **100 basis point increase** in interest rates would result in an approximate **$1.6 million increase** in annual pre-tax interest expense[132](index=132&type=chunk) [Foreign Currency Exchange Rate Risk](index=25&type=section&id=Foreign%20Currency%20Exchange%20Rate%20Risk) - Fluctuations in the **U.S. dollar exchange rate** can impact the retail price and profitability of foreign products purchased from European and Chinese manufacturers[133](index=133&type=chunk) - Fraser Yachts Group and Northrop & Johnson have transactions in non-U.S. dollar currencies, but these revenues were **less than 2% of total revenues** in **fiscal 2020**[134](index=134&type=chunk) - The company is **not currently engaged in foreign currency exchange hedging transactions**[133](index=133&type=chunk) [ITEM 4. Controls and Procedures](index=26&type=section&id=ITEM%204.%20Controls%20and%20Procedures) This section details the evaluation of MarineMax's disclosure controls and procedures, noting their effectiveness as of December 31, 2020, and the ongoing integration of controls for the newly acquired SkipperBud's. It also acknowledges the inherent limitations of any control system [Evaluation of Disclosure Controls and Procedures](index=26&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) - CEO and CFO concluded that disclosure controls and procedures were **effective at the reasonable assurance level** as of **December 31, 2020**[136](index=136&type=chunk) [Changes in Internal Controls](index=26&type=section&id=Changes%20in%20Internal%20Controls) - **No material changes** in internal control over financial reporting occurred, except for the implementation of controls for the acquired SkipperBud's subsidiary[137](index=137&type=chunk) [Limitations on the Effectiveness of Controls](index=26&type=section&id=Limitations%20on%20the%20Effectiveness%20of%20Controls) - Control systems provide only **reasonable, not absolute, assurance** due to inherent limitations such as faulty judgments, simple errors, collusion, or management override[138](index=138&type=chunk) [CEO and CFO Certifications](index=26&type=section&id=CEO%20and%20CFO%20Certifications) - **CEO and CFO Certifications (Exhibits 31.1 and 31.2)** are provided in accordance with **Section 302 of the Sarbanes-Oxley Act of 2002**[139](index=139&type=chunk) PART II. OTHER INFORMATION This section covers legal proceedings, risk factors, equity security sales, defaults on senior securities, mine safety disclosures, other information, and a list of exhibits filed with the report [ITEM 1. Legal Proceedings](index=26&type=section&id=ITEM%201.%20Legal%20Proceedings) MarineMax is involved in routine legal actions but does not anticipate any material adverse effect on its financial condition, results of operations, or cash flows as of December 31, 2020 - The company is party to various legal actions arising in the **ordinary course of business**[141](index=141&type=chunk) - These matters are **not expected to have a material adverse effect** on the company's financial condition, results of operations, or cash flows[141](index=141&type=chunk) [ITEM 1A. Risk Factors](index=26&type=section&id=ITEM%201A.%20Risk%20Factors) This section states that no new material risk factors have been identified since the last annual report - **No new material risk factors** were reported in this quarterly filing[142](index=142&type=chunk) [ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During November 2020, MarineMax repurchased 27,822 shares of common stock at an average price of $31.30 per share, primarily for tax withholdings related to equity awards. The company has authorization to purchase up to 9,919,764 additional shares through March 2022 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds Table | Period | Total Shares Purchased | Average Price Paid per Share | Maximum Shares Available Under Plans | | :--------------------------------- | :--------------------- | :--------------------------- | :----------------------------------- | | October 1, 2020 - October 31, 2020 | - | - | 9,919,764 | | November 1, 2020 - November 30, 2020 | 27,822 | $31.30 | 9,919,764 | | December 1, 2020 - December 31, 2020 | - | - | 9,919,764 | | Total | 27,822 | $31.30 | 9,919,764 | - The **27,822 shares** repurchased in **November 2020** were attributable to shares tendered by employees for tax withholdings on equity awards[145](index=145&type=chunk) [ITEM 3. Defaults Upon Senior Securities](index=27&type=section&id=ITEM%203.%20Defaults%20Upon%20Senior%20Securities) This section states that there were no defaults upon senior securities during the reporting period - **No defaults upon senior securities** were reported[146](index=146&type=chunk) [ITEM 4. Mine Safety Disclosures](index=27&type=section&id=ITEM%204.%20Mine%20Safety%20Disclosures) This section states that mine safety disclosures are not applicable to the company - Mine Safety Disclosures are **not applicable to the company**[147](index=147&type=chunk) [ITEM 5. Other Information](index=27&type=section&id=ITEM%205.%20Other%20Information) This section states that no other information is required to be reported - **No other information** was reported[148](index=148&type=chunk) [ITEM 6. Exhibits](index=28&type=section&id=ITEM%206.%20Exhibits) This section lists all exhibits filed as part of the Form 10-Q, including corporate documents, sales agreements, acquisition agreements, and certifications - The report includes **various exhibits** such as Articles of Incorporation, Bylaws, Sales and Service Agreements (Boston Whaler, Sea Ray), Equity Purchase Agreement (Skipper Marine Holdings), and **CEO/CFO Certifications**[151](index=151&type=chunk) SIGNATURES This section confirms the official signing of the report by MarineMax, Inc.'s Executive Vice President, Chief Financial Officer, Secretary, and Director on February 2, 2021 - The report was **signed by Michael H. McLamb, Executive Vice President, Chief Financial Officer, Secretary, and Director, on February 2, 2021**[155](index=155&type=chunk)