MBUU — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-27

• We are a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport boats, sterndrive boats, outboard boats, and premium adventure dayboats under nine brands—Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, Cobalt, and Saxdor. As …

• We design, manufacture and sell recreational powerboats, including performance sport boats, sterndrive boats, outboard boats, and premium adventure dayboats across nine brands: Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, Cobalt, and Saxdor. We believe that we deliver superior performa…

• MalibuMalibu1220'-26'$80-$300Malibu targets consumers seeking a premium boating experience with our latest innovations in performance, comfort and convenience. Across Malibu's three product lines, we offer a variety of products to customers from our Response Series tailored for high-performance wate…

• SaxdorSaxdor926'-47'$130-$825Saxdor is a premium adventure dayboat manufacturer available in five product lines. Saxdor's products focus on overall comfort on the water including features such as entirely open or closed cabins maximizing comfort in all types of weather.

• In addition to the standard features included on all of our boats, we offer consumers a full selection of innovative optional features designed to enhance performance, functionality and the overall boating experience. We believe our innovative features drive our high average selling prices. Among ou…

Text removed vs the prior filing · source: 10-K · 2025-08-28

• We are a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport boats, sterndrive and outboard boats under eight brands—Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes and Cobalt. As of June 30, 2025, we are among the market l…

• We design, manufacture and sell recreational powerboats, including performance sport boats, sterndrive and outboard boats across eight brands: Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt. We believe that we deliver

• superior performance for general recreational purposes with a significant focus on water sports, including wakeboarding, water skiing and wake surfing as well as general recreational boating and fishing. In addition, we also offer various accessories and aftermarket parts. The following table provid…

• MalibuMalibu1220'-26$80-$300Malibu targets consumers seeking a premium boating experience with our latest innovations in performance, comfort and convenience. Across our three product lines, we offer a variety of products to customers from our Response Series tailored for high-performance water ski …

• In addition to the standard features included on all of our boats, we offer consumers a full selection of innovative optional features designed to enhance performance, functionality and the overall boating experience. We believe our innovative features drive our high average selling prices. Among ou…

Text added vs the prior filing · source: 10-K · 2026-08-27

• We have a large fixed-cost base that will affect our profitability when demand decreases or when our costs increase at a faster rate than our revenue.

• Our ability to maintain production is dependent upon our suppliers delivering sufficient amounts of components, raw materials and parts on time to manufacture our products and meet our production schedules. Supply chain disruptions could occur for any number of factors, including facility closures d…

• Volvo as an engine supplier for any reason, it could cause a decrease in boats available for sale or an increase in our cost of sales, either of which could adversely affect our business, financial condition and results of operations. We were advised in fiscal 2025 by one of our suppliers that we wo…

• Approximately 75 employees at our Larsmo, Finland facility are covered by a collective bargaining agreement. Disputes regarding our existing collective bargaining agreement or new union organizing activities could lead to production slowdowns or stoppages. In addition, union activity and compliance …

• Significant increases in manufacturing workforce costs could materially adversely affect our business, financial condition or results of operations.

Text removed vs the prior filing · source: 10-K · 2025-08-28

• We have a large fixed-cost base that will affect our profitability when our sales decrease.

• Our ability to maintain production is dependent upon our suppliers delivering sufficient amounts of components, raw materials and parts on time to manufacture our products and meet our production schedules. Supply chain disruptions could occur for any number of factors, including facility closures d…

• assurance that alternate supply arrangements will be made on satisfactory terms. If we need to enter into supply arrangements on unsatisfactory terms, or if there are any delays to our supply arrangements, it could adversely affect our business and operating results.

• Our growth strategy includes the possible acquisition of other businesses and the potential integration of new product lines or related products to our boats, such as our initiatives to integrate the production of engines and trailers for our Malibu and Axis models, our Monsoon engines into some of …

• Further, we could choose to finance acquisitions or other strategic initiatives, in whole or in part through the issuance of our Class A Common Stock or securities convertible into or exercisable for our Class A Common Stock. If we do so, existing stockholders will experience dilution in the voting …

Text added vs the prior filing · source: 10-K · 2026-08-27

• In March 2026, we acquired Saxdor Yachts Oy ("Saxdor"). Saxdor is a leading European designer and manufacturer of premium adventure dayboats. Saxdor has a team of approximately 800 employees with three engineering and manufacturing facilities in Finland and Poland. See "Acquisition of Saxdor" below …

• We currently sell our boats under nine brands as shown in the table below, and we report our results of operations under four reportable segments, Malibu, Saltwater Fishing, Cobalt, and Saxdor. In connection with our acquisition of Saxdor we revised our segment reporting during the quarter ended Mar…

• Our Malibu segment participates in the manufacturing, distribution, marketing and sale throughout the world of Malibu and Axis performance sports boats. Our flagship Malibu boats offer our latest innovations in performance, comfort and convenience, and are designed for consumers seeking a premium pe…

• are among the market leaders in the United States in the performance sport boat category through our Malibu and Axis brands. Our Axis boats appeal to consumers who desire a more affordable performance sport boat product but still demand high performance, functional simplicity and the option to upgra…

• Our Saltwater Fishing segment participates in the manufacturing, distribution, marketing and sale throughout the world of Pursuit boats and the Maverick Boat Group family of boats (Maverick, Cobia, Pathfinder and Hewes). Our Pursuit boats include center console, dual console and offshore models. Our…

Text removed vs the prior filing · source: 10-K · 2025-08-28

• We currently sell our boats under eight brands as shown in the table below, and we report our results of operations under three reportable segments, Malibu, Saltwater Fishing and Cobalt.

• Our Malibu segment participates in the manufacturing, distribution, marketing and sale throughout the world of Malibu and Axis performance sports boats. Our flagship Malibu boats offer our latest innovations in performance, comfort and convenience, and are designed for consumers seeking a premium pe…

• Our Saltwater Fishing segment participates in the manufacturing, distribution, marketing and sale throughout the world of Pursuit boats and the Maverick Boat Group family of boats (Maverick, Cobia, Pathfinder and Hewes). Our Pursuit boats include center console, dual console and offshore models. Our…

• market leaders in the fiberglass outboard fishing boat category with the brands in our Saltwater Fishing segment. Retail prices for our Saltwater Fishing boats typically range from $45,000 to $1,400,000.

• Our Cobalt segment participates in the manufacturing, distribution, marketing and sale throughout the world of Cobalt boats. Our Cobalt boats consist of mid to large-sized luxury cruisers and bowriders that we believe offer the ultimate experience in comfort, performance and quality. As of June 30, …

Text added vs the prior filing · source: 10-K · 2026-08-27

• We have operations within the United States, Australia, and Europe, and we are exposed to market risks in the ordinary course of our business. These risks primarily include foreign exchange rate and inflation risks. Our Australian operations purchase key components from our U.S. operations, as well …

• We are also subject to risks relating to changes in the general economic conditions in the countries where we conduct business. To reduce certain of these risks to our Australian and European operations, we monitor, on a regular basis, the financial condition and position of our subsidiaries who con…

• Additionally, the assets and liabilities of our Australian and European subsidiaries are translated at the foreign exchange rate in effect at the balance sheet date. Translation gains and losses are reflected as a component of accumulated other comprehensive loss in the stockholders’ equity section …

• We are subject to interest rate risk in connection with borrowings under our revolving credit facility, which bear interest at variable rates. At June 30, 2026, we had $165.0 million outstanding debt under our revolving credit facility. As of June 30, 2026, the undrawn borrowing amount under our rev…

• At June 30, 2026, the weighted average interest rate on our revolving credit facility was 4.92% under the terms of the Third A&R Credit Agreement. Based on a sensitivity analysis at June 30, 2026, a 100 basis point increase in interest rates would increase our annual interest expense by approximatel…

Text removed vs the prior filing · source: 10-K · 2025-08-28

• We have operations both within the United States and Australia, and we are exposed to market risks in the ordinary course of our business. These risks primarily include foreign exchange rate and inflation risks. Our Australian operations purchase key components from our U.S. operations, as well as o…

• Additionally, the assets and liabilities of our Australian subsidiary are translated at the foreign exchange rate in effect at the balance sheet date. Translation gains and losses are reflected as a component of accumulated other comprehensive loss in the stockholders’ equity section of the accompan…

• We are subject to interest rate risk in connection with borrowings under our revolving credit facility, which bear interest at variable rates. At June 30, 2025, we had $18.0 million outstanding debt under our revolving credit facility. As of June 30, 2025, the undrawn borrowing amount under our revo…

• At June 30, 2025, the interest rate on our revolving credit facility was 7.75% under the terms of the Credit Agreement. Based on a sensitivity analysis at June 30, 2025, a 100 basis point increase in interest rates would increase our annual interest expense by approximately $0.2 million.