OneWater(US:ONEW)2025-01-30 12:05Revenue Performance - Fiscal first quarter 2025 revenue was $375.8 million, a 3.2% increase from $364.0 million in the same quarter of 2024[4] - New boat revenue increased by 2.9% to $248.0 million, while pre-owned boat revenue rose by 6.6% to $56.8 million[4] - Finance and insurance income grew by 27.7% to $9.4 million, contributing positively to overall revenue[3] - The company maintains its fiscal year 2025 revenue guidance of $1.7 billion to $1.85 billion, with same-store sales expected to increase in low single digits[9] Profitability and Expenses - Gross profit for the quarter was $84.1 million, down from $91.4 million, resulting in a gross profit margin of 22.4%, a decrease of 270 basis points year-over-year[5] - Selling, general and administrative expenses were $79.1 million, representing 21.0% of revenue, down from 21.9% in the prior year[6] - The net loss for the quarter was $(13.6) million, compared to a net loss of $(8.0) million in the same quarter of 2024, with a diluted loss per share of $(0.81)[7] - Adjusted EBITDA decreased to $1.9 million from $7.1 million in the prior year quarter[8] Inventory Management - Total inventory decreased by 9.9% to $636.7 million, down from $706.8 million a year earlier, due to effective inventory management[8] Debt and Financial Leverage - As of December 31, 2024, total long-term debt was $428.3 million, with an adjusted long-term net debt leverage ratio of 5.2 times trailing twelve-month Adjusted EBITDA[9] - Adjusted Long-Term Net Debt is defined as long-term debt minus cash, which is used to assess financial leverage[27] Operational Insights - OneWater Marine Inc. operates 96 retail locations and 10 distribution centers across 19 states, focusing on premium marine retail[21] - The company utilizes Adjusted EBITDA as a key performance indicator, which excludes interest, taxes, depreciation, and other non-operational expenses[22][23] - Adjusted Net Income attributable to OneWater Marine Inc. is calculated by excluding transaction costs and other unusual expenses, providing a clearer view of operational performance[25][26] - Same-store sales are used to measure organic growth, excluding new and acquired stores until they have been operational for 13 months[28] Future Outlook and Risks - Forward-looking statements indicate management's expectations regarding future revenue and operating income, but these are subject to uncertainties and risks[29][30] - Key risks include demand fluctuations, supply chain challenges, and the impact of global events on business operations[31] - Management's strategy includes potential acquisitions and market expansion, although integration risks are acknowledged[31] Revenue Diversification - The company has a diversified revenue stream, including sales of new and pre-owned boats, financing, and maintenance services[21] - The company emphasizes the importance of non-GAAP measures for investors to assess financial performance across reporting periods[24][26]