Revenue Growth
Revenues increased to $4.8 million, representing a 9.9% year-over-year growth and a 32% increase over the first quarter of 2025.
Gross Margin Improvement
Gross margin expanded by 910 basis points to 13.8% in the second quarter, driven by production efficiencies and better alignment between supply and demand.
Bahama Boat Works Acquisition
Completion of the acquisition of Bahama Boat Works, expanding the company's product portfolio and market presence.
Launch of New Products
Introduction of new 22' BayCat and expansion of Bahama Boat Works model lineup with new center console models.
Dealer Network Expansion
Addition of 10 new dealers, broadening geographic reach and strengthening retail coverage.
Cost Reduction
Operating expenses decreased by 52% to $2.3 million, demonstrating disciplined expense control.
Cash Position
Cash, cash equivalents, and restricted cash increased to $6.2 million, reflecting disciplined cash management.