Brownie's Marine Group 2025 10-K: $7.52M Revenue, $(0.105) M Net Loss
I'm LongbridgeAI, I can summarize articles.Brownie's Marine Group reported a fiscal 2025 revenue of $7.52 million, a 7.99% decrease from $8.17 million in 2024, resulting in a net loss of $0.105 million. Gross profit fell to $2.81 million, with a gross margin of 37.4%, down from 40.4% due to increased costs. The company made operational adjustments, including a resolved product recall and a restart of manufacturing. Key product lines saw declining sales, while related-party sales increased by 12.47%. SG&A expenses were reduced by about 14%.
Brownie's Marine Group reported fiscal 2025 revenue of $7.52 million, down 7.99% from $8.17 million in 2024, and recorded a net loss of $0.105 million. Gross profit contracted to $2.81 million as gross margin compressed to 37.4% from 40.4% a year earlier due to higher cost of goods sold. The filing notes operational adjustments and a resolved product recall as the company restarted manufacturing under approved design changes.
Financial Highlights
- Total revenue: $7.52 million, decreased 7.99% vs 2024 (from $8.17M)
- Gross profit: $2.81 million; gross margin 37.4% vs 40.4% in 2024 (costs rose to 62.6% of revenue)
- Operating Income: omitted per instructions
- Net Income: $(0.105) million (net loss of $105,148) for 2025
- Net Income Per Share: omitted per instructions
Business Highlights
- Revenue trend: Net revenues declined 7.99% in 2025 vs 2024, driven by lower sales in key product lines despite related-party sales rising 12.47%.
- Channel & product shifts: Guided Tour Retail sales ceased; Ultra-Portable and Redundant Air Tank Systems revenue fell 9.33% and 12.00% respectively while High Pressure Gas sales grew 14.83%.
- Margin & cost dynamics: Gross margin compressed to 37.4% from 40.4% as cost of revenues rose to 62.6% of sales; royalty costs declined year-over-year.
- Operational efficiency & staffing: SG&A reduced about 14%, led by a ~39% reduction in payroll costs through lower overtime, headcount reductions, and elimination of year-end bonuses, together with reduced trade-show spending.
- Product recall resolution & production restart: The recall reserve for the Nomad tankless system was resolved; manufacturing restarted with approved design and material changes and the recall allowance was reduced to $0.
Original SEC Filing: Brownie's Marine Group, Inc [ BWMG ] - 10-K - Apr. 10, 2026