NXB earnings analysis
What we found in NXB's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.08
- Gross margin
- 16.1%
What they said about what is next.
Full-year 2026 revenue guidance was maintained at $165 million to $170 million; no quantitative EPS guidance was provided.
The filing reads about the same as the one before it.
What came before.
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing NXB makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever