Malibu Boats(US:MBUU)2026-02-05 14:10Financial Performance - The company reported a net loss of $2,462,000 for the quarter ending December 31, 2025[18]. - For the six months ended December 31, 2025, Malibu Boats reported a net loss of $3,221,000 compared to a net loss of $2,726,000 for the same period in 2024, indicating a year-over-year increase in losses of approximately 18.2%[22]. - Basic net loss attributable to Malibu Boats, Inc. for the three months ended December 31, 2025, was $(2,462) thousand, compared to a profit of $2,363 thousand in 2024[87]. - Loss before income taxes was reported at $4.210 million for the six months ended December 31, 2025, compared to an income before income taxes of $2.600 million in the same period of 2024[114]. Revenue and Sales - Revenue for the three months ended December 31, 2025, was $70.633 million, a decrease from $74.099 million in the same period of 2024, representing a decline of 6.3%[32]. - For the three months ended December 31, 2025, total net sales reached $188.622 million, a decrease from $200.280 million in the same period of 2024, representing a decline of approximately 5.8%[111][112]. - For the six months ended December 31, 2025, total net sales were $383.355 million, compared to $383.355 million in the same period of 2024, indicating no growth year-over-year[114]. Assets and Liabilities - Total current assets decreased from $219,892,000 as of June 30, 2025, to $214,706,000 as of December 31, 2025, a decline of approximately 2.0%[15]. - Total liabilities increased from $214,745,000 to $216,437,000, an increase of about 0.8%[15]. - The company’s total assets decreased from $734,578,000 to $715,705,000, a decline of approximately 2.6%[15]. - Stockholders' equity attributable to Malibu Boats, Inc. decreased from $515,461,000 to $495,043,000, a decline of approximately 3.9%[15]. Cash Flow and Reserves - Cash reserves decreased from $37,002,000 to $28,209,000, representing a decrease of about 23.6%[15]. - Net cash provided by operating activities for the six months ended December 31, 2025, was $19,182,000, slightly down from $20,005,000 in 2024, a decrease of about 4.1%[22]. - Cash at the end of the period decreased to $28,209,000 in 2025 from $37,002,000 at the beginning of the period, a decline of approximately 23.8%[22]. Inventory Management - Inventories increased from $142,163,000 to $146,851,000, an increase of about 3.8%[15]. - Inventories decreased by $4,647,000 in 2025, contrasting with an increase of $178,000 in 2024, showing a significant shift in inventory management[22]. - Total inventories as of December 31, 2025, amounted to $146.851 million, an increase from $142.163 million as of June 30, 2025, reflecting a rise of 3.9%[39]. Debt and Financing - The company’s long-term debt increased from $18,000,000 to $20,000,000, an increase of approximately 11.1%[15]. - Outstanding debt as of December 31, 2025, was $20,000, an increase from $18,000 as of June 30, 2025[51]. - The total amount financed under floor financing programs with repurchase obligations was $415,211 thousand as of December 31, 2025, an increase from $364,085 thousand as of June 30, 2025[88]. Tax and Legal Matters - The Company's effective tax rate for the three months ended December 31, 2025, is 34.1%, significantly higher than 6.9% for the same period in 2024[72]. - A securities class action lawsuit was filed against the company on April 29, 2024, alleging violations of the Securities Exchange Act, with a proposed settlement amount of $7.8 million pending court approval[101]. - The company intends to vigorously defend itself against various lawsuits, including customer class action and derivative actions, but is unable to provide reasonable estimates of potential losses[103][102]. Stock and Compensation - The 2024 Performance Incentive Plan allows for the issuance of up to 1,020,000 shares, with 605,741 shares remaining available for future issuance as of December 31, 2025[74]. - Stock-based compensation expense for the three months ended December 31, 2025, was $1,221, down from $2,133 in the same period of 2024, representing a decrease of 43%[82]. - Stock-based compensation expense for restricted service-based stock units granted on November 21, 2025, is valued at $3,138 based on a stock price of $26.59[77].