Financial Performance - Revenue decreased to $657.2 million in Q3 FY 2025 from $757.7 million in Q3 FY 2024[44] - Comparable-store sales declined by 9% year-over-year, primarily due to lower new boat sales[43] - Gross margin decreased by 160 basis points from 32% in Q3 FY 2024 to 30.4% in Q3 FY 2025, mainly due to lower boat margins[43, 44] - Net loss attributable to MarineMax was $52.1 million in Q3 FY 2025, compared to a net income of $31.6 million in Q3 FY 2024[44] - Adjusted EBITDA decreased to $35.5 million in Q3 FY 2025 from $70.4 million in Q3 FY 2024[44] - Adjusted diluted loss per share was $2.42 in Q3 FY 2025, compared to adjusted diluted earnings per share of $1.37 in Q3 FY 2024[44] - A non-cash goodwill impairment charge of $69.1 million was recorded in Q3 FY 2025, associated with the manufacturing segment[42, 43] Balance Sheet - Cash and cash equivalents were $151.0 million[47] - Inventories increased to $906.2 million[49] - Shareholders' equity was $951.3 million[50] Strategy and Outlook - FY 2025 adjusted EBITDA guidance is in the range of $105 million to $120 million[42] - FY 2025 adjusted EPS guidance is in the range of $0.45 to $0.95 per diluted share[42] - The company has completed over 20 acquisitions since 2019, generating over $700 million in combined revenue[12, 39]