OneWater Marine Inc. Annual Report - How They Did This Year

Hey there! Let's dive into how OneWater Marine Inc. performed this year. We'll break down the key highlights in an easy-to-understand way.

Business Expansion and Changes

OneWater Marine has been busy expanding its footprint and making strategic adjustments to its business portfolio.

• New Additions: The company acquired several businesses to grow its operations. In May 2024, they brought Garden State Yacht Sales into the family. Looking back to the previous fiscal year (which ended in September 2024), they also acquired Quality Assets and Operations LLC in October 2023, Harbor Pointe Marina in September 2023, and Harbor View Marine also in September 2023. These moves suggest a focus on expanding their dealership network and service offerings.
• Streamlining Operations: To optimize their business, OneWater Marine also made some divestitures. In September 2023, they sold off Roscioli Yachting Center and Lookout Marine. This indicates a strategy of refining their portfolio, possibly by shedding less strategic or underperforming assets.

Financial Health Notes

The company recognized impairment charges in both the current fiscal year (ending September 2025) and the fiscal year ending September 2023. These charges were related to their Dealerships and Distribution segments. An impairment charge means that the value of some assets on their books was reduced because they were deemed to be worth less than previously recorded. This can sometimes signal challenges in certain parts of the business or a re-evaluation of asset values.

Key Takeaways

• OneWater Marine expanded its dealership network and service offerings through acquisitions, including Garden State Yacht Sales in May 2024, and Quality Assets and Operations LLC, Harbor Pointe Marina, and Harbor View Marine in late 2023.
• The company refined its business portfolio by divesting Roscioli Yachting Center and Lookout Marine in September 2023.
• Impairment charges were recognized in the Dealerships and Distribution segments during both the fiscal year ending September 2023 and the current fiscal year ending September 2025.