OneWater Marine yesterday announced the financial results for its fiscal year and fourth quarter.
Revenue for the year increased 6% year-over-year to $1.9 billion, and same-store sales grew 6%. Gross profit margin was 22.8%. The company reported a $146 million non-cash goodwill and intangible asset impairment charge in the fourth quarter, resulting in a GAAP net loss of $116 million. Adjusted EBIDTA for the year was $70 million.
“We delivered a solid finish to what was a challenging fiscal 2025 for our industry, outperforming the market and continuing to advance our strategic priorities,” OneWater executive chairman Austin Singleton said in a statement. “Amid heightened competition and elevated promotional activity, our teams executed with discipline, managing inventory to the cleanest levels we have seen in years. Supported by our flexible operating model, we effectively aligned costs with market demand and successfully navigated this dynamic environment.”
Fourth-quarter revenue was $460.1 million, a 21.8% increase year-over-year. New-boat revenue increased 24.6%, largely driven by an increase in units sold and average price per unit. Gross profit totaled $103.9 million, up $13.2 million from the previous year.
Net loss for the quarter totaled $113 million, compared with net loss of $10.4 million in the prior-year quarter. The net loss was driven by a $145.8 million non-cash impairment charge related to goodwill and certain intangible assets.
For fiscal 2026, OneWater anticipates industrywide unit sales to be flat year-over-year. Factoring in lost revenue from exited brands, the company expects total revenue in the range of $1.83 billion to $1.93 billion. Adjusted EBITDA is expected to be in the range of $65 million to $85 million, and adjusted diluted earnings per share is expected to be in the range of $0.25 to $0.75.
