North Carolina-based Off the Hook Yachts reported full-year 2025 and fourth-quarter results this week. The company said record yearly revenue of $119.9 million was up 21.1% year-over-year. A record 426 boats were sold , up 33%. Last fall, Off the Hook completed an IPO, which it said strengthened the balance sheet and liquidity.
“We achieved record revenue of $120 million, expanded our national broker network and continued to build out the infrastructure that we believe positions the company for continued double-digit growth,” CEO Brian John said in a statement.
New-boat sales increased 32% to $14.5 million for the year, compared with $11 million in 2024, reflecting increased marketing efforts and a more focused sales initiative for select brands. The company sold 21 new boats in 2025, compared with 17 in 2024.
“Despite a more cautious macro environment for discretionary purchases, the number of boats that we sold grew by more than 30% year-over-year and continued to strengthen our leading market position in the preowned segment, where we believe long-term demand remains strong,” John said. “With expanded floorplan capacity, increased broker productivity and a growing national footprint, we believe OTH is well-positioned to accelerate growth in 2026 and continue building one of the leading platforms in the recreational marine market.”
Fourth-quarter revenue rose 25.2% to $37.3 million, compared with $29.8 million in the prior-year period. Quarterly unit sales increased 62.5% to a record 117 boats. Gross profit climbed 63.2% to $3.1 million.
Despite the top-line growth, the company reported a net loss of $1.87 million, compared with net income of $1 million in 2024, primarily reflecting increased operating expenses associated with becoming a public company, including $1.8 million of stock-based compensation.
Off the Hook said it expects 2026 revenue in the range of $150 million to $155 million as it continues to scale its vertically integrated platform.
