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Earnings analysis · 10-Q

NXB earnings analysis

Filed August 13, 2026 · Our reading of the company's report

The latest report

NextBoat delivered strong Q2 growth, with revenue of $59.1 million up 88.4% year over year and gross margin of 16.1%, but diluted EPS was negative $0.08 and the company reported a $1.9 million net loss attributable to…

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NextBoat delivered strong Q2 growth, with revenue of $59.1 million up 88.4% year over year and gross margin of 16.1%, but diluted EPS was negative $0.08 and the company reported a $1.9 million net loss attributable to NextBoat versus $553,841 of prior-year net income. Full-year 2026 revenue guidance remained $165 million to $170 million. The filing also highlights material execution and governance concerns, including ineffective disclosure controls as of June 30, 2026, acquisition integration risk, and potentially dilutive convertible financing.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

16% Gross margin Operating margin Dec 2025 Aug 2026

One point per quarterly or annual filing. Both margins are shares of that report's revenue.

How we read each report

Our analysis across the last few reports.

Read as bullish Read as bearish Dec 2025 Aug 2026

Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.

Reported figures

Earnings per share
$-0.08
Gross margin
16.1%

What stood out

  • Revenue grew 88.4% year over year

    Q2 revenue was $59.1 million, an 88.4% increase year over year, while diluted EPS was negative $0.08.

  • Margin and adjusted EBITDA improved

    Gross margin improved to 16.1%, and adjusted EBITDA was $829,805.

  • Full-year revenue outlook maintained

    Full-year 2026 revenue guidance was maintained at $165 million to $170 million.

What to watch

  • Disclosure controls remain ineffective

    Disclosure controls were deemed ineffective as of June 30, 2026 because the company’s control framework remains insufficiently formalized and documented.

  • Integration risk from acquisitions

    The company completed acquisitions of Apex Marine Sales for approximately $6.1 million on May 1, 2026 and Bellhart Marine Group for approximately $0.9 million on May 22, 2026, creating integration, execution, and potential impairment risks.

  • Convertible debt may cause dilution

    The August 5, 2026 Greentree financing includes a 10% convertible note with $510,000 principal, conversion at $1.785 per share subject to downward resets, and a warrant for up to 100,000 shares, creating dilution and financing-flexibility risks.

Management's outlook

Full-year 2026 revenue guidance was maintained at $165 million to $170 million; no quantitative EPS guidance was provided.

Earlier filings 2

10-K · March 31, 2026

Off The Hook YS Inc. reported a significant year over year revenue increase of 21.1% to $119.9 million for FY 2025, supported by a higher floor plan limit and strategic broker hires. Despite growth, the company incurred…

10-Q · December 15, 2025

NXB reported a decrease in revenue of $1.86 million (7.19%) to $24.01 million for Q3 2025 due to delayed deals, despite selling 38 more boats than in Q3 2024. Gross profit increased by $127,824, and SG&A expenses rose…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.