Aug 13, 2026 earnings call — Record growth, partnerships, and acquisitions
Reported record revenue of $59.1 million in second quarter, up 88.4% year-over-year.
Next-quarter revenue outlook $0.2B–$0.2B
Key quotes
"Transaction volume up approximately 138% year-over-year. Our transaction-closing team tripled to keep pace while we continue to model our AI to work alongside them."
"We're bringing that capability to market as its own offering, Match, powered by NextBoat. It's the connective tissue of this entire platform, and we believe it's one of the most valuable and most exciting pieces of what we've built."
"In the Mid-Atlantic, we acquired a property in Maryland, capable of supporting nearly 200 boats from reconditioning to sales."
Analyst Q&A 2
MarineMax partnership and acquisitions integration
Q (Mark Smith · Lake Street): He asked if the MarineMax deal threatens current partnerships and if it creates new opportunities. He also asked how integration of Apex and BellHart is going and how active M&A will be for the rest of the year.
A: Management said they are excited about the MarineMax partnership and see it as validation of their technology and team, and noted growing institutional capital in the marine industry. They said Apex has already been turned around from losses to a positive result and is operating while they finish accounting and systems work. They described Apex as a hub where boats are acquired, reconditioned, and retailed, and said it is highly complementary to their mission.
"Apex is our company in the most living breathing form where boats are acquired into, reconditioned, and retailed." — Blake Phillips (COO)
Inventory turns and working capital needs
Q (Michael Albanese · Benchmark Company): He asked what the current inventory turns are and where they might go as acquisitions integrate. He also asked how much working capital the business needs as it grows and uses the platform.
A: They said inventory turns are currently in the 4x to 5x a year range and they expect them to stay there, though turns may come down as volume increases. Management said they will focus on improving turns using two refurbishment centers to get boats ready to sell faster. On working capital, they said more floor plan use requires more capital, they will focus on boats in their $200,000 to say, $600,000 sweet spot with lower carrying costs, and quicker turns let them recycle capital back into the floor plan.
"We're still in the 4x to 5x a year range." — Brian John (CEO)