Forward-Looking Statements GARLAND, Texas, June 4, 2025 /PRNewswire/ -- In response to ongoing global supply chain volatility and tariff-related pressures, Massimo Group (Nasdaq: MAMO) ("Massimo" or the "Company") today announced a strategic transition to a nearshoring manufacturing model, establishing new production capabilities closer to its core North American markets. This initiative marks a pivotal evolution in Massimo's global operations. By diversifying its manufacturing footprint beyond East Asia, t ...

For the quarterly period ended March 31, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Registrant's telephone number, including area code: (877) 881-6376 (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of exchange on which reg ...

Dr. Yunhao Chen will join SEC Commissioners and other thought leaders in the annual forum focused on financial reporting and capital raising policies affecting small businesses.GARLAND, Texas, April 9, 2025 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo" or the "Company"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announces that Dr. Yunhao Chen, the Chief Financial Officer of Massimo, will participate in a panel discussion on Thursday, April 10, 2025, at the Sec ...

Exhibit 99.1 Massimo Group Reports Fiscal Year End 2024 Financial Results GARLAND, Texas, March 27, 2025 /PRNewswire/ — Massimo Group (NASDAQ: MAMO) ("Massimo" or the "Company"), a manufacturer and distributor of powersports vehicles and pontoon boats, today released its financial results for the fourth quarter and the year ended Dec. 31, 2024, noting revenue from sales of UTVs, ATVs and electric bikes increased by $4.1 million, or 4.0%, from $103.3 million in fiscal 2023 to $107.5 million in fiscal 2024. A ...

Revenue Performance - Total revenue decreased by $3.8 million, or 3.3%, from $115.0 million in fiscal 2023 to $111.2 million in fiscal 2024[244]. - Revenue from UTVs, ATVs, and e-bikes increased by $4.1 million, or 4.0%, from $103.3 million in fiscal 2023 to $107.5 million in fiscal 2024, representing 96.6% of total revenue in 2024[247]. - Revenue from sales of Pontoon Boats decreased by $7.9 million, or 68.0%, from $11.7 million in fiscal 2023 to $3.8 million in fiscal 2024, representing 3.4% of total revenue in 2024[248]. Profitability - Gross profit decreased by $1.6 million, or 4.4%, from $35.9 million in fiscal 2023 to $34.3 million in fiscal 2024, with a gross margin of 30.9% in 2024[249]. - Income from operations decreased by $6.1 million, or 47.3%, from $12.92 million in fiscal 2023 to $6.81 million in fiscal 2024[242]. - Net income decreased by $7.26 million, or 69.7%, from $10.42 million in fiscal 2023 to $3.15 million in fiscal 2024[242]. Operating Expenses - Operating expenses increased by $4.5 million, or 19.8%, from $22.99 million in fiscal 2023 to $27.53 million in fiscal 2024[242]. - General and administrative expenses increased by $3.4 million, or 25.6%, from $13.2 million in fiscal 2023 to $16.6 million in fiscal 2024, representing 14.9% of total revenue[254]. Cash Flow and Financing - Net cash provided by operating activities was approximately $6.7 million in fiscal 2024, a decrease of $4.2 million compared to fiscal 2023[265]. - Net cash provided by financing activities was approximately $3.0 million in fiscal 2024, compared to net cash used of approximately $11.0 million in fiscal 2023, primarily due to net proceeds from IPO[266]. - As of December 31, 2024, the company had cash and cash equivalents of approximately $10.2 million and positive working capital of $19.2 million[270]. Legal and Other Liabilities - The company recorded a one-time loss of approximately $3.6 million on legal judgment related to a lawsuit, bringing total accrual related to this lawsuit to approximately $6.0 million[259]. - The company recorded an additional accrual of $3,645,092 related to a lawsuit, bringing the total accrual to approximately $5,988,961 as of December 31, 2024[287]. - Warranty liabilities decreased from $619,113 in 2023 to $503,553 in 2024, with warranty expenses of $1,274,037 in 2024 compared to $1,924,203 in 2023[282]. Inventory and Provisions - Inventory provision increased slightly from $439,900 in 2023 to $469,900 in 2024, with impairment provision of $30,000 in 2024 compared to $439,900 in 2023[285]. - The allowance for credit loss was recorded at $0.5 million for 2024, down from $0.6 million in 2023[284]. - Sales return liabilities were recorded at $261,588 for 2024, down from $283,276 in 2023, with sales returns of $1,061,694 and $3,355,112 for the respective years[281]. Business Strategy and Risks - The company expanded its distribution network through large retail stores in the U.S., focusing on in-store sales to enhance market penetration[244]. - The company is facing risks from intense competition, economic changes in China, and fluctuations in raw material costs, which could adversely affect its financial condition[240][241]. - The company has initiated research and development expenses amounting to $343,493 in fiscal 2024, reflecting a focus on innovation[242]. Capital Expenditures - Capital expenditures for Fiscal 2024 amounted to approximately $387,876, a substantial increase from $134,662 in 2023, reflecting business growth[276]. - The company's lease commitments total $11,549,277, with $2,904,205 due within one year[277]. Other Income - Other income increased by $1.0 million, or 688.6%, from $0.1 million in fiscal 2023 to $1.1 million in fiscal 2024, primarily due to write-offs and additional insurance claims[261]. Debt and Loans - As of December 31, 2024, the total loan balance was $0, compared to $303,583 in 2023, indicating a significant reduction in outstanding loans[272][275]. - There were no off-balance sheet arrangements that could materially affect the financial condition or results of operations for the years ended December 31, 2024 and 2023[278].

Core Viewpoint - Massimo Motor is actively engaging with retail partners through participation in industry events to enhance relationships and gain insights into customer preferences and market trends [1][2][4]. Company Engagement - Massimo Motor participated in the Rural King Vendor Summit and is attending the Tractor Supply Company & PetSense ASM and Partner Trade Show, which are critical for collaboration with retail partners [1][2]. - The company emphasizes the importance of listening and learning from retail partners to refine product offerings and meet customer expectations [2][3]. Market Positioning - The shared customer base between Massimo, Rural King, and Tractor Supply focuses on practicality, value, and high-quality equipment, reinforcing Massimo's commitment to serving farmers, ranchers, and outdoor enthusiasts [3][4]. - Massimo's proactive approach to market expansion and strategic growth is highlighted by strengthening partnerships with established retail leaders, ensuring competitive and accessible products [4]. Product Focus - Massimo Motor specializes in manufacturing UTVs, ATVs, and outdoor equipment, aiming to deliver high-performance, durable, and affordable solutions tailored for rural communities and outdoor enthusiasts [5].

Company Overview - Massimo Group (NASDAQ: MAMO) is transitioning the production of its MVR Golf Cart series to its facility in Garland, Texas, to enhance quality control and strengthen its position in the U.S. market [1] - The company manufactures and distributes powersports vehicles and pontoon boats, with a focus on high-quality and innovative designs [5] Industry Context - U.S. trade regulators have taken action against unfair practices in the low-speed personal transportation vehicle market, imposing countervailing duties and antidumping tariffs ranging from 149% to 500% on certain foreign manufacturers [2] - This regulatory environment has prompted Massimo to shift production domestically, addressing trade challenges while maintaining high manufacturing standards [3] Strategic Initiatives - By relocating production to the U.S., Massimo aims to reinforce its supply chain and enhance quality assurance, positioning itself competitively in the market [4] - The company is also exploring strategic partnerships in Vietnam to diversify its supply chain and mitigate potential cost increases from tariffs affecting imports from China [3]

Company Overview - Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats, founded in 2009 and 2020 respectively [3] - The company offers a range of products including utility UTVs, recreational ATVs, and minibikes, as well as pontoon and Tritoon boats [3] - Massimo is also developing electric versions of UTVs, golf carts, and pontoon boats [3] - The company's manufacturing facility spans 376,000 square feet and is located in Garland, Texas [3] Upcoming Events - Massimo's Chief Financial Officer, Dr. Yunhao Chen, will attend The Microcap Conference 2025 from January 28-30, 2025, at Borgata Hotel Spa & Casino in Atlantic City, NJ [1][2] - Dr. Chen is scheduled to host one-on-one meetings with investors and deliver a live presentation during the event [2]

Company Overview - Massimo Group is a manufacturer and distributor of powersports vehicles and pontoon boats, consisting of two wholly-owned subsidiaries: Massimo Motor Sports and Massimo Marine [1][12] - The company is committed to innovation, customer-centric strategies, and sustainable growth to navigate the evolving market landscape [6][10] Industry Landscape and Challenges - The powersports vehicle and marine industries have faced significant challenges, including market downturns and a push toward electrification, leading to profit margins as low as 2%-3% for some competitors [2][4] - Despite these challenges, Massimo Group has demonstrated resilience and innovation, positioning itself as an industry frontrunner [3][5] Performance Highlights - Massimo Motor Sports achieved strong year-over-year sales growth that is expected to outpace the industry average, while many competitors struggled to maintain profitability [4][8] - The company’s focus on high-quality products, operational efficiency, and customer satisfaction has solidified its position as a trusted name in the industry [5][8] Future Plans - Massimo Group plans to launch new market-driven products, including all-weather vehicles in 2025, to meet the increasing demand for electrification and sustainability [9] - The company aims to enhance operational efficiency by expanding distribution centers to enable faster shipping and reduce transportation costs [9] - Plans include expanding into new markets, exploring innovative opportunities such as low-altitude flying vehicles, and establishing a dedicated R&D department to drive product innovation [9][10] Commitment to Shareholder Value - Delivering value to shareholders is a cornerstone of Massimo Group's strategy, with a focus on creating sustainable, long-term value through transparency, innovation, and strategic growth [11]

Core Insights - Massimo Group has established its sixth distribution center in Edwardsville, Illinois, aimed at enhancing its logistics network and service capabilities across the United States [1][2][3] - The new facility is expected to create logistical efficiencies, reducing fulfillment times and optimizing expenses for both the company and its partners [2][5] - The nationwide distribution network now includes six strategically located centers, which will assist in delivering products faster and more efficiently to meet growing demand [3][4] Company Overview - Massimo Group, founded in 2009, manufactures and distributes powersports vehicles and pontoon boats, with a focus on value-packed utility vehicles [6] - The company is also developing electric versions of UTVs, golf carts, and pontoon boats, showcasing its commitment to innovation [6] - Massimo's factory spans 376,000 square feet and is located in Garland, Texas, emphasizing its operational scale and capacity [6]