--- title: "Off The Hook YS | 8-K: FY2026 Q1 Revenue: USD 29.84 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286460889.md" datetime: "2026-05-14T20:13:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286460889.md) - [en](https://longbridge.com/en/news/286460889.md) - [zh-HK](https://longbridge.com/zh-HK/news/286460889.md) --- # Off The Hook YS | 8-K: FY2026 Q1 Revenue: USD 29.84 M Revenue: As of FY2026 Q1, the actual value is USD 29.84 M. EPS: As of FY2026 Q1, the actual value is USD -0.14. EBIT: As of FY2026 Q1, the actual value is USD -2.775 M. #### Revenue - **Total Revenue**: Off The Hook YS Inc. reported a 9.6% increase in revenue to $29.8 million for the first quarter of 2026, up from $27.2 million in the first quarter of 2025. - **New Boat Sales**: New boat sales decreased by $4.2 million, or 76.4%, to $1.3 million for the three months ended March 31, 2026, from $5.5 million for the same period in 2025. The company sold 3 new units in Q1 2026, down from approximately 7 units in Q1 2025. - **Pre-owned Boat Sales**: Pre-owned boat sales increased by $6.7 million, or 31.8%, to $27.8 million for the three months ended March 31, 2026, from $21.1 million for the same period in 2025. Pre-owned boat unit sales increased 55.0% to 124 units in Q1 2026, compared to 80 units in Q1 2025. The average price per pre-owned boat sale transaction was approximately $224,000 for Q1 2026 and $263,000 for Q1 2025. - **Finance Income (Azure)**: Revenue from arranging financing products decreased by approximately $0.3 million, or 50.0%, to $0.3 million for Q1 2026, from $0.6 million for Q1 2025. #### Gross Profit and Margin - **Total Gross Profit**: Gross profit increased by $0.5 million, or 18.3%, to $3.2 million for the three months ended March 31, 2026, compared to $2.7 million for the same period in 2025. - **Gross Margin**: The overall gross margin for Q1 2026 was 10.7%, an increase from 9.9% in Q1 2025. - **New Boat Gross Profit**: New boat gross profit decreased by $0.2 million to $0.01 million for Q1 2026, compared to $0.3 million for Q1 2025. New boat gross profit as a percentage of new boat revenue was 1.1% for Q1 2026, down from 4.5% for Q1 2025. - **Pre-owned Boat Gross Profit**: Pre-owned boat gross profit increased by $0.6 million, or 30.0%, to $2.6 million for Q1 2026, compared to $2.0 million for Q1 2025. Pre-owned boat gross margin as a percentage of pre-owned boat revenue was 9.4% for Q1 2026, compared to 9.6% for Q1 2025. - **Finance Gross Profit**: Finance gross profit decreased by $0.1 million to $0.2 million for Q1 2026, from $0.3 million for Q1 2025. #### Operating Expenses - **Selling, General and Administrative (SG&A) Expenses**: SG&A increased by $0.9 million, or 205.1%, to $1.3 million for Q1 2026, compared to $0.4 million for Q1 2025. - **Salaries and Wages**: Salaries and wages expense increased by $2.2 million, or 244.4%, to $3.1 million for Q1 2026, compared to $0.9 million for Q1 2025. This included $1.8 million in stock-based compensation for Q1 2026. - **Depreciation and amortization**: Depreciation and amortization increased to $158,688 in Q1 2026 from $36,373 in Q1 2025. - **Advertising and marketing**: Advertising and marketing expenses increased to $590,893 in Q1 2026 from $329,046 in Q1 2025. - **Professional services**: Professional services expenses increased to $586,200 in Q1 2026 from $54,287 in Q1 2025. - **Rent expenses**: Rent expenses increased to $287,855 in Q1 2026 from $157,158 in Q1 2025. - **Total Operating Expenses**: Total operating expenses increased to $6,035,773 in Q1 2026 from $1,856,006 in Q1 2025. #### Operational Metrics - **Operating Loss**: Off The Hook YS Inc. reported an operating loss of -$2,867,993 for Q1 2026, compared to an operating income of $820,623 for Q1 2025. - **Net Loss**: Net loss for Q1 2026 was -$3,467,522, compared to a net income of $289,774 for Q1 2025. - **Adjusted EBITDA (Non-GAAP)**: Adjusted EBITDA was -$1,370,597 for Q1 2026, compared to $326,147 for Q1 2025. - **Boats Sold**: Off The Hook YS Inc. sold a record 127 boats during the first quarter of 2026. - **Broker Network**: The company expanded its broker network by 30 brokers during the quarter. - **Apex Marine Acquisition**: Off The Hook YS Inc. completed the acquisition of Apex Marine on May 13, 2026, which is expected to strengthen its position in South Florida and support storage, service, brokerage, and pre-owned boat resale operations. #### Outlook / Guidance - For the full year 2026, Off The Hook YS Inc. increased its revenue guidance to between $165 million and $170 million. 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