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NextBoat
(NXB)
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Rating:46Neutral
Price Target:
$2.00
▼(-9.50% Downside)
Action:Reiterated
Date:08/26/26
The score is held down primarily by weak financial performance (losses, negative operating/free cash flow, and leverage). The latest earnings call provides a partial offset via strong revenue/volume growth and maintained guidance with a margin-improvement plan, while technicals and valuation are broadly neutral given negative MACD and a negative P/E.
Positive Factors
Strong revenue and volume expansion
Rapid growth in revenue, units and transaction volume indicates increasing market adoption and distribution capacity. Maintaining guidance while scaling supports a durable demand outlook, provided the company can convert expanding activity into sustainable margins.
Negative Factors
Profitability and margins remain weak
Top-line expansion has not yet produced durable profitability. Sharp margin compression and a return to net losses indicate execution risk, leaving results sensitive to product mix, pricing, acquisition integration and the company’s ability to control costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue and volume expansion
Rapid growth in revenue, units and transaction volume indicates increasing market adoption and distribution capacity. Maintaining guidance while scaling supports a durable demand outlook, provided the company can convert expanding activity into sustainable margins.
Read all positive factors
NextBoat (NXB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$55.06M
Dividend YieldN/A
Average Volume (3M)47.01K
Price to Earnings (P/E)―
Beta (1Y)2.50
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees40
SectorGeneral
Sector StrengthN/A
IndustryAuto - Dealerships
Share Statistics
EPS (TTM)-0.33
Shares Outstanding25,142,895
10 Day Avg. Volume52,600
30 Day Avg. Volume47,008
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)5.42
Price to Sales (P/S)0.54
P/FCF Ratio-44.31
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.05
Revenue Forecast (FY)$170.00M
NextBoat Business Overview & Revenue Model
Company Description
Off The Hook YS, Inc. specializes in the acquisition, resale, and wholesale distribution of yachts and boats. Its operations are divided into two primary divisions: Dealerships and Financing Services. The Dealership segment primarily handles the r...
NextBoat Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Dec 21, 2026
Earnings Call Sentiment Positive
The call reported broad and material top-line and volume strength: record revenue (+88.4% YoY), record units sold (+~138% YoY), doubling of gross profit, meaningful growth in higher-margin services, new strategic partnerships (MarineMax/Newcoast), and physical acquisitions that expand capabilities. These positives were balanced by elevated operating expenses tied to M&A integration and public-company build-out (notably higher salaries, SG&A, and marketing), increased floor-plan interest and working-capital needs, a modest decline in average pre-owned selling price, and remaining integration work. Overall, management framed the quarter as a validation of the scalable platform and focused on converting scale to margin while managing near-term expense increases.Positive Updates
Record Quarterly Revenue
Revenue of $59.1M in Q2 2026, up 88.4% year-over-year (from $31.3M in Q2 2025); company maintained full-year 2026 revenue guidance of $165M–$170M.
Negative Updates
Rising Operating Expenses and SG&A
SG&A increased 250% to $1.4M for the quarter (from $400K), driven by integration of acquired businesses, higher insurance, and marketing spend associated with public company build-out and expansion.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue
Revenue of $59.1M in Q2 2026, up 88.4% year-over-year (from $31.3M in Q2 2025); company maintained full-year 2026 revenue guidance of $165M–$170M.
Read all positive updates
Company Guidance
NextBoat reiterated full-year 2026 revenue guidance of $165–$170 million while shifting focus to margin improvement and H2 profitability; that guidance is anchored by Q2 results of $59.1 million revenue (up 88.4% YoY), record unit volume of 255 boats (≈+138% YoY) with ~230 pre-owned units, transaction volume up ~120–138% YoY, and a year-to-date brokerage run rate of $134 million in 8 months (vs. a $100M full‑year goal). Q2 detail supports the plan: $45.0M pre-owned sales, $10.9M new boat sales (+189.3%), average pre-owned transaction ~$381,566, F&I revenue $1.0M (+66.7%), service/parts $2.2M (+465.6%), gross profit $9.5M (+100.1%) with pre-owned gross margin ~15%, and inventory turns targeted at ~4–5x; management expects to lift margins through F&I, warranty (launching this month), broker growth (26 new brokers in Q2), integrations (Apex/BellHart), and operational leverage while managing higher SG&A, salaries ($6.5M), stock‑based comp ($1.7M), advertising ($0.4M) and floor‑plan interest ($0.8M).NextBoat Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
30
Negative
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 150.19M | 119.87M | 99.00M | 91.84M |
| Gross Profit | 12.18M | 5.38M | 8.78M | 9.15M |
| EBITDA | -5.00M | 568.36K | 2.87M | 3.26M |
| Net Income | -8.05M | -1.87M | 991.68K | 1.30M |
Balance Sheet | ||||
| Total Assets | 100.49M | 48.42M | 31.64M | 20.30M |
| Cash, Cash Equivalents and Short-Term Investments | 7.74M | 12.43M | 2.93M | 1.65M |
| Total Debt | 80.98M | 32.02M | 25.32M | 14.98M |
| Total Liabilities | 88.44M | 36.58M | 30.67M | 20.55M |
| Stockholders Equity | 12.26M | 11.84M | 967.39K | -249.72K |
Cash Flow | ||||
| Free Cash Flow | -19.15M | -1.45M | -7.13M | -4.47M |
| Operating Cash Flow | -18.57M | -697.39K | -7.11M | -3.94M |
| Investing Cash Flow | -4.46M | -749.89K | -25.01K | -536.40K |
| Financing Cash Flow | 27.65M | 10.95M | 8.41M | 288.99K |
NextBoat Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $3.18B | 18.59 | 56.25% | ― | 6.01% | 47.62% | |
73 Outperform | $80.84B | 24.93 | 46.57% | ― | 53.98% | 159.43% | |
69 Neutral | $626.33M | 19.83 | 7.40% | ― | 1.08% | -6.71% | |
60 Neutral | $8.70B | 37.89 | 3.67% | ― | -1.69% | -58.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | $48.68M | -0.84 | -51.30% | ― | 100.60% | 69.18% | |
46 Neutral | $55.06M | -6.64 | -94.82% | ― | ― | ― |
* General Sector Average
NXB
NextBoat
2.21
-1.59
-41.84%
KMX
CarMax
61.00
1.31
2.19%
CVNA
Carvana Co
72.18
-1.10
-1.50%
CARG
CarGurus
34.77
>-0.01
-0.03%
CARS
Cars
11.59
-1.15
-9.03%
VRM
Vroom, Inc.
9.30
-18.85
-66.96%
NextBoat Corporate Events
Business Operations and StrategyPrivate Placements and Financing
NextBoat Secures Convertible Financing and Issues Equity Warrants
Neutral
Aug 18, 2026
On August 14, 2026, NextBoat Inc. entered into a $510,000 loan agreement with Greentree Financial Group Inc., issuing a 10% convertible promissory note with a 10% original issue discount that yielded roughly $459,000 in net proceeds. The note, mat...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
NextBoat Reports Soaring Q2 Revenue Amid Strategic Expansion
Positive
Aug 13, 2026
On August 13, 2026, NextBoat Inc. reported fiscal second-quarter 2026 results showing revenue surged 88.4% year over year to a record $59.1 million, driven by a 104.4% rise in pre-owned boat sales and a record 255 boats sold, while gross profit do...
Business Operations and StrategyFinancial Disclosures
NextBoat to Report Q2 2026 Results August 13
Neutral
Aug 4, 2026
On August 4, 2026, NextBoat Inc. announced plans to release its second-quarter 2026 financial and operating results on Thursday, August 13, 2026, after the market close. The disclosure will be accompanied by an earnings conference call at 4:30 p.m...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
NextBoat rebrands as AI-driven marine marketplace platform
Positive
Jul 27, 2026
On May 28, 2026, NextBoat Inc., formerly Off The Hook YS Inc., completed a legal name change through a Certificate of Amendment filed with the Nevada Secretary of State, with no stockholder vote required because the change was limited to its corpo...
Executive/Board Changes
NextBoat Appoints Zebulon Hadley to Board, Committees
Positive
Jul 23, 2026
On July 17, 2026, NextBoat Inc. announced that director Michael Kosloske resigned from the Board effective 5:00 p.m. Eastern Time that day, with the company stating his departure was not due to any disagreement over operations, policies, or practi...
Business Operations and StrategyFinancial Disclosures
NextBoat nears profitability amid record Q2 growth
Positive
Jul 17, 2026
On July 16, 2026, NextBoat reported preliminary second-quarter 2026 results showing record transaction closings and quarterly sales, with the company expecting to be at or near profitability after a loss in the first quarter tied to public-company...
Business Operations and StrategyPrivate Placements and Financing
NextBoat Forms Strategic Partnership with MarineMax for Growth
Positive
Jul 1, 2026
On June 25, 2026, NextBoat Inc. signed a five-year Strategic Partnership and Revenue Sharing Agreement with MarineMax Inc., making NextBoat the preferred wholesale and trade-in partner for the world’s largest recreational boat and yacht reta...
Business Operations and StrategyFinancial Disclosures
NextBoat Marks Record Superyacht Sale, Elevating Brokerage Status
Positive
Jun 29, 2026
On June 29, 2026, NextBoat Inc. announced that its Autograph Yacht Group division completed the sale of a 2009 Abeking Rasmussen 60-meter superyacht, last listed at $45 million, marking the largest brokerage transaction in the company’s his...
Business Operations and StrategyPrivate Placements and Financing
NextBoat Secures New Related-Party Inventory Loan Facility
Neutral
Jun 26, 2026
On June 22, 2026, NextBoat Inc. and its subsidiary Off The Hook Yacht Sales NC, LLC entered into a Master Loan Agreement with RLLT Capital, LLC to obtain discretionary loans for financing pre-owned boat inventory, with an initial $2.0 million loan...
Executive/Board ChangesShareholder Meetings
NextBoat Shareholders Approve Directors and Equity Incentive Plan
Positive
Jun 25, 2026
At its annual meeting of stockholders held on June 24, 2026, NextBoat Inc. reported that 17,799,178 shares were represented virtually or by proxy, constituting a quorum for conducting business. Stockholders elected seven director nominees, includi...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
NextBoat advances Apex Marine integration and facility consolidation
Positive
Jun 24, 2026
NextBoat Inc. reported on June 24, 2026 that it has made substantial headway in integrating Apex Marine Companies within the first 60 days following the acquisition completed on May 1, 2026, marking a significant step in its strategy to build a sc...
Business Operations and StrategyFinancial Disclosures
NextBoat’s Autograph Division Delivers Strong Q2 Growth
Positive
Jun 16, 2026
On June 16, 2026, NextBoat Inc. reported strong second-quarter performance from its Autograph yacht brokerage division, highlighting robust growth in transaction volume, gross sales, new listings, and team expansion since the unit’s launch i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.