NextBoat Inc. — Form 8-K
Filed August 13, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 62/100
What the filing says
NextBoat reported Q2 2026 revenue of $59.1M (up 88.4% YoY from $31.3M), with 255 boats sold (company record) and gross profit of $9.5M (up 100.1%). However, the company posted a net loss of $1.9M (vs. $0.6M net income in Q2 2025), driven by operating expense growth: salaries rose $3.6M (+127.8%), SG&A rose $1.0M (+259.7%), and interest expense rose $0.6M (+109.6%), largely from two acquisitions (Apex Marine and Bellhart) completed in the quarter and increased debt/floor plan financing. Adjusted EBITDA remained flat at $0.8M. For full-year 2026, the company maintains revenue guidance of $165M–$170M.
Why this rating
Strong revenue growth and volume momentum offset by swing to net loss and rising leverage relative to ~$64.5M asset base. Acquisitions and debt expansion are material but company remains pre-profitability at GAAP level.
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