Core Insights - Off The Hook YS Inc. achieved record revenue of $119.9 million in 2025, representing a 21.1% increase year-over-year [1][6] - The company sold a record 426 boats in 2025, up 33% from the previous year [1][3] - Revenue guidance for 2026 has been increased to between $150 million and $155 million [5] Financial Performance - Revenue for 2025 increased to $119.9 million from $99.0 million in 2024, driven by higher floorplan limits and increased sales [6][7] - Pre-owned boat sales rose by 20% to $101.7 million, while new boat sales increased by 32% to $14.5 million [6][9] - Gross profit for 2025 was $11.5 million, a 30.6% increase from $8.8 million in 2024 [7][10] Operational Highlights - The average monthly utilization of the company's floorplan financing increased by 78% to $23.4 million in 2025 [6] - The company expanded its national broker network and infrastructure, positioning itself for continued double-digit growth [2][3] - Operating expenses for 2025 were $10.7 million, up from $5.8 million in 2024, primarily due to increased marketing and public company-related costs [11][12] Market Position - Off The Hook Yachts is the largest buyer and seller of used boats in the U.S. and is focused on the pre-owned segment where long-term demand remains strong [1][3] - The company believes it is well-positioned to accelerate growth in 2026, supported by expanded floorplan capacity and increased broker productivity [3][17] Liquidity and Capital Structure - The company completed its IPO in November 2025, raising approximately $13.4 million in net proceeds, which strengthened its balance sheet [7][14] - As of December 31, 2025, cash increased to $12.4 million from $2.93 million on September 30, 2025 [13][14] - Working capital improved to $9.4 million, compared to negative $0.4 million in the previous year [14]