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Core Viewpoint - Malibu Boats, Inc. has appointed David S. Black as Chief Financial Officer to enhance financial performance and support future growth initiatives through acquisitions and strategic planning [1][3]. Company Leadership - David S. Black, previously Vice President of Finance and interim CFO, has over 19 years of experience in accounting and finance, including roles as Corporate Controller and Director of Internal Audit [2][3]. - The CEO, Steve Menneto, expressed confidence in Black's ability to drive the company's growth and financial strategy, emphasizing his understanding of the business and strategic vision [3]. Fiscal Guidance - For fiscal year 2026, Malibu Boats anticipates net sales to be flat to down mid-single digits percentage points year-over-year, with an Adjusted EBITDA margin ranging from 8% to 9% [4]. - The company has not provided reconciliations for the Adjusted EBITDA margin due to the unpredictability of certain costs related to vertical integration, stock-based compensation, and litigation [5]. Company Overview - Malibu Boats, Inc. is a leading designer and manufacturer of recreational powerboats, including performance sport, sterndrive, and outboard boats, with a strong market presence in various segments [6].

Core Insights - Malibu Boats, Inc. has achieved an unprecedented sixth consecutive win for its Malibu Wakesetter 23 LSV as Wakesurf and Wakeboard Boat of the Year at the WakeWorld Riders Choice Awards, highlighting its dominance in the watersports boat market [1][2] Company Overview - Malibu Boats, Inc. is a leading designer, manufacturer, and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive, and outboard boats [5] - The company is recognized as the market leader in the performance sport boat category through its Malibu and Axis brands, and holds a leading position in the 20'–40' segment of the sterndrive boat category with its Cobalt brand [5] Product Highlights - The Malibu Wakesetter 23 LSV is celebrated for its iconic design, balanced performance, and versatility, accommodating up to 16 passengers and featuring Malibu's exclusive Wake Plus™ Hull or Diamond Hull™ options [2] - Advanced technologies such as Surf Gate®, Power Wedge III, and the Malibu Command Center™ allow for customizable wake and wave settings, enhancing the user experience [2] Recognition and Awards - The recognition of Malibu's team riders at the WakeWorld Riders Choice Awards underscores the company's commitment to excellence and innovation in the watersports industry [3][4] - Notable achievements include first and second place finishes for Malibu and Axis team riders in various categories, showcasing the talent and dedication of the athletes [6]

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Financial Data and Key Metrics Changes - Net sales increased approximately 13.5% year over year to $194.7 million, driven by increased unit volumes and inflation-driven price increases [11] - Adjusted EBITDA for the quarter increased 19.1% to $11.8 million, with adjusted EBITDA margin rising to 6.1% from 5.8% in the prior year [13] - GAAP net loss decreased 86.2% to a loss of $700,000 [13] - Consolidated net sales per unit increased 2.9% to $172,500 per unit [11] Business Line Data and Key Metrics Changes - In the Malibu segment, gross profit decreased 1% to $27.9 million, with gross margin as a percentage of sales at 14.3%, down 210 basis points year over year [12] - Unit volume increased 10.3% to 1,129 units, with Malibu and Axis brands representing approximately 47.7% of unit sales [11] - Saltwater fishing represented 25.5% and Cobalt made up the remaining 26.8% of unit sales [11] Market Data and Key Metrics Changes - Retail activities remained soft, with inventories entering the quarter slightly elevated [4] - The company expects the market to decline in the range of mid to high single digits for the year, with a continuation of high single digit to low double digit decline through the second quarter [15] Company Strategy and Development Direction - The company is focused on driving growth and long-term value creation through its Build, Innovate, and Grow framework, expanding capabilities beyond boat building into parts, accessories, and marine services [5] - A new financing partnership, MBI Acceptance, was launched to support dealer retail activity [5][6] - The company aims to protect dealer health, manage production with precision, and continue pushing innovation [9] Management's Comments on Operating Environment and Future Outlook - Management remains realistic about the broader marine environment, noting no clear inflection signaling a market recovery [9] - The company is maintaining its full-year guidance, expecting sales to be flat to down mid single digit percentage points [15] - Management expressed confidence in the ability to outperform the market while building for the next up cycle [10] Other Important Information - The company generated $2.5 million of free cash flow during Q1, inclusive of $4.3 million of capital expenditures [13] - The company anticipates consolidated adjusted EBITDA margin for the full year ranging from 8% to 9% [16] Q&A Session Summary Question: Impact of interest rates on consumer behavior - Management noted that consumer sentiment has improved with recent rate cuts, but retail finance rates will take time to reflect these changes [19] Question: Higher dealer incentives for Malibu brand - Management indicated that higher dealer incentives were related to clearing inventory and expected a competitive promotional environment moving forward [20] Question: Inventory management and expectations - Management stated that dealer inventories are expected to reduce across all segments, aligning production with market expectations [21][29] Question: Insights on MBI Acceptance rollout - Initial feedback on MBI Acceptance has been positive, with strong dealer engagement and early success in the rollout [32][34] Question: Discounting levels in the market - Management acknowledged that while discounting has cooled from previous excess inventory levels, the environment remains competitive [38] Question: Consumer purchasing behavior - Management observed no significant changes in the cash buyer versus payment buyer dynamic, with MBI Acceptance expected to provide more insights over time [55]

Core Viewpoint - Malibu Boats reported quarterly earnings of $0.15 per share, exceeding the Zacks Consensus Estimate of $0.06 per share, and showing an increase from $0.08 per share a year ago, representing an earnings surprise of +150.00% [1] Financial Performance - The company posted revenues of $194.73 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 5.19% and increasing from $171.58 million year-over-year [2] - Over the last four quarters, Malibu Boats has exceeded consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance and Outlook - Malibu Boats shares have declined approximately 13.4% since the beginning of the year, contrasting with the S&P 500's gain of 17.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.28 on revenues of $194.7 million, and for the current fiscal year, it is $1.22 on revenues of $786.83 million [7] Industry Context - The Leisure and Recreation Products industry, to which Malibu Boats belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Malibu Boats' stock performance [5]

Financial Performance - For the three months ended September 30, 2025, net sales reached $194.733 million, a 13.5% increase from $171.580 million in the same period of 2024[102][103]. - Boat and trailer sales contributed $187.781 million to net sales, up from $164.418 million year-over-year, reflecting a 14.2% growth[27]. - The company reported a net loss of $710 thousand for the three months ended September 30, 2025, significantly improved from a net loss of $5.147 million in the same period of 2024[18]. - Loss before income taxes for the three months ended September 30, 2025, was $(399) thousand, a significant improvement from a loss of $(5.997) million in the same period of 2024[102][103]. - Basic net loss per share for Q3 2025 was $(0.04), a significant improvement from $(0.25) in Q3 2024, with net loss attributable to Malibu Boats, Inc. decreasing from $(5,048) thousand to $(702) thousand[77]. Assets and Liabilities - Total current assets increased to $247,930,000 as of September 30, 2025, up from $219,892,000 on June 30, 2025, representing a growth of approximately 12.8%[14]. - Total liabilities increased to $234,987,000, up from $214,745,000, reflecting a rise of approximately 9.4%[14]. - Long-term debt increased to $23,000,000 from $18,000,000, marking a 27.8% increase[14]. - The company’s total assets reached $755,614,000, up from $734,578,000, indicating an increase of approximately 2.8%[14]. - Total inventories increased to $145.038 million as of September 30, 2025, from $142.163 million as of June 30, 2025[35]. Cash Flow and Operating Activities - Cash balance rose to $44,105,000, an increase of 19.0% from $37,002,000 as of June 30, 2025[14]. - Cash provided by operating activities was $6.535 million, compared to cash used in operating activities of $8.402 million in the prior year[18]. - The company ended the period with cash of $44.105 million, up from $27.659 million at the end of the same period in 2024[18]. Equity and Capital - Stockholders' equity attributable to Malibu Boats, Inc. rose to $516,357,000, a slight increase from $515,461,000[14]. - Additional paid-in capital increased to $36,627,000 from $35,253,000, reflecting a growth of 3.9%[14]. - The company has issued 25,712 LLC Units in connection with the issuance of Class A Common Stock for long-term incentive plans during the quarter[32]. Segment Performance - Segment Adjusted EBITDA for the Malibu segment was $10.896 million, up from $8.588 million in the prior year, reflecting a 27% increase[102][103]. - The Saltwater Fishing segment reported net sales of $64.318 million, a decrease of 0.7% compared to $64.751 million in the same quarter of 2024[102][103]. - Cobalt segment's net sales were $51.768 million, showing a slight increase from $50.810 million in the previous year, representing a 1.9% growth[102][103]. Legal and Compliance - A securities class action lawsuit has been filed against the company, with a proposed settlement amount of $7,800 thousand, subject to court approval[91]. - The company is facing multiple derivative lawsuits alleging violations of the Securities Exchange Act of 1934 and breach of fiduciary duties, but it is unable to estimate potential losses[92][93]. - The company continues to assess contingent liabilities and does not believe there are any pending claims that will materially impact its financial condition as of September 30, 2025[84]. Future Outlook - Malibu Boats continues to face risks related to supply chain disruptions and macroeconomic conditions that may impact future performance[10]. - The company plans to continue expanding its product offerings and market presence, focusing on innovative recreational powerboats[21]. - The company expects to maintain its growth trajectory and improve operational efficiency in the upcoming quarters[21].

Leading the Future of Marine FIRST QUARTER FISCAL 2026 EARNINGS RESULTS October 30, 2025 Use & Definition of Non-GAAP Financial Measures This presentations includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income per Share and Free Cash Flow. These measures have limitations as analytical tools and should not be considered as an alternative to, or more meaningfu ...