v3.26.1
Segment Information
 9 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We report our operations through two reportable segments: (1) Dealership and (2) Distribution. See Note 2 for more information about our segments. The Company evaluates performance and allocates resources for all of its reportable segments based on metrics such as segment revenues and segment income. These segment profit metrics are consistent across all segments. The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
Reportable segment financial information for the three and nine months ended June 30, 2026 and 2025 is as follows:
Dealership:Three Months Ended
June 30,
20262025
Revenues:
New boat$319,960 $326,134 
Pre-owned boat121,058 125,941 
Finance & insurance income17,293 17,782 
Service, parts & other43,061 42,904 
Total revenues501,372 512,761 
Cost of sales:
New boat (1)262,826 273,691 
Pre-owned boat96,559 103,406 
Service, parts & other23,613 21,234 
Total cost of sales382,998 398,331 
Selling, general and administrative expenses (2)75,427 76,454 
Interest expense - floor plan6,763 7,340 
Segment income$36,184 $30,636 
(1) Cost of sales - new boat excludes restructuring impairment charges.
(2) Selling, general and administrative expenses exclude equity-based compensation.
Distribution:Three Months Ended
June 30,
20262025
Revenues:
Service, parts & other29,339 40,103 
Cost of sales:
Service, parts & other (1)19,955 24,669 
Selling, general and administrative expenses7,810 13,225 
Segment income1,574 2,209 
(1) Cost of sales - Service, parts & other excludes depreciation and amortization
Three Months Ended
June 30,
Reconciliation of segment income:20262025
Dealership segment income36,184 30,636 
Distribution segment income1,574 2,209 
Segment income37,758 32,845 
Interest expense - other(7,070)(9,041)
Restructuring and impairment(304)(727)
Change in fair value of contingent consideration— (144)
Equity-based compensation(4,006)(2,459)
Transaction costs(210)(175)
Depreciation and amortization(4,352)(6,301)
Other income, net150 224 
Net income before income tax expense21,966 14,222 
Three Months Ended
June 30,
Interest expense - other:20262025
Dealership segment7,070 9,041 
Distribution segment— — 
Total interest expense - other7,070 9,041 
Dealership:Nine Months Ended
June 30,
20262025
Revenues:
New boat825,267 883,631 
Pre-owned boat285,840 272,467 
Finance & insurance income40,206 42,185 
Service, parts & other109,748 108,393 
Total revenues1,261,061 1,306,676 
Cost of sales:
New boat (1)681,366 742,982 
Pre-owned boat229,022 222,865 
Service, parts & other56,131 52,145 
Total cost of sales966,519 1,017,992 
Selling, general and administrative expenses (2)217,988 216,208 
Interest expense - floor plan20,530 21,870 
Segment income56,024 50,606 
(1) Cost of sales - new boat excludes restructuring impairment charges.
(2) Selling, general and administrative expenses exclude equity-based compensation.
Distribution:Nine Months Ended
June 30,
20262025
Revenues:
Service, parts & other92,504 105,523 
Cost of sales:
Service, parts & other (1)63,506 67,456 
Selling, general and administrative expenses27,319 36,064 
Segment income1,679 2,003 
(1) Cost of sales - Service, parts & other excludes depreciation and amortization