OneWater Marine reported a gross profit of $84.1 million for the quarter ending on December 31, 2024. This figure marks a decrease from the $91.4 million recorded in the previous quarter.

The company also experienced a net loss of $13.6 million during this period, which is a significant increase from the $8 million net loss reported in the same quarter of the previous year.

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However, OneWater Marine did see a slight uptick in revenue, which amounted to $375.8 million for the quarter, representing a 3.2% increase from $364 million in the first fiscal quarter of 2024. This growth was attributed in part to a 4.2% rise in same-store sales.

Revenue from new boat sales grew by 2.9%, primarily due to an increase in the number of units sold. The pre-owned boat sector performed even better, with a 6.6% increase in revenue, driven by both higher sales volumes and an increase in the average price per unit.

CEO Austin Singleton commented on the financial results, stating, "First quarter results exceeded expectations driven by higher unit sales in both new and preowned categories. Our strategic inventory management and operational execution led to outperformance against the industry, and our team excelled in managing inventory levels."

Although these strategic efforts compressed margins for the quarter, Singleton noted that a higher penetration of finance and insurance services helped mitigate this impact, showcasing the resilience of OneWater's business model.

He continued, "We remain cautiously optimistic, bolstered by a robust inventory position that positions us well to meet customer demands. As we move forward, we anticipate additional benefits from our cost reduction strategies, which are set to further enhance our financial standing."

Despite these challenges, OneWater Marine is maintaining its financial outlook for the full fiscal year of 2025, expecting revenue to range between $1.7 billion and $1.85 billion, with dealership same-store sales projected to grow by low single digits.

OneWater Marine, known for its innovative approach in the boating industry, continues to navigate through fluctuating market conditions while maintaining a steady focus on growth and operational efficiency.