v3.26.1
SEGMENT INFORMATION
 12 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

16. SEGMENT INFORMATION

Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the CODM in making decisions on how to allocate resources and assess performance. For the year ended June 30, 2026, the Company’s CODM regularly assessed the operating performance of the Company’s boat brands under three operating and reportable segments:

•
The Performance and Wake segment, consisting of our MasterCraft brand, produces boats at its Vonore, Tennessee facility. These are premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.
•
The Leisure segment, consisting of our Crest and Balise brands, produces pontoon boats at its Owosso, Michigan facility. Pontoon boats are primarily used for general recreational boating.
•
The Recreation and Sport Fishing segment, consisting of our Chaparral and Robalo brands, produces recreational and sport fishing boats at its Nashville, Georgia facility.

Each segment distributes its products through its own independent dealer network. Each segment also has its own management structure which is responsible for the operations of the segment and is directly accountable to the CODM for the operating performance of the segment, which is regularly assessed by the CODM who allocates resources based on that performance.

The Company files a consolidated income tax return and does not allocate income taxes and other corporate-level expenses, including interest, to operating segments. All material corporate costs are included in the Performance and Wake segment.

The Company incurred acquisition-related costs of $15.2 million during fiscal 2026 related to the Marine Products Transaction. These costs are included within general and administrative expenses.

The Company’s CODM is the Chief Executive Officer. The CODM uses Adjusted EBITDA, a non-GAAP measure, in the annual budget and forecasting process. Subsequent to the process, the CODM considers forecast-to-actual variances to assess the performance of and allocate resources to the Company’s segments based on Adjusted EBITDA. Adjusted EBITDA excludes depreciation and amortization, share based compensation, senior leadership transition and organizational realignment costs, and business development consulting costs.

Selected financial information for the Company’s reportable segments was as follows:

 

 

For the Year Ended

 

 

 

June 30, 2026

 

 

 

Performance and Wake

 

 

Leisure

 

 

Recreation and Sport Fishing

 

 

Consolidated

 

Net sales

 

$

271,177

 

 

$

44,400

 

 

$

33,326

 

 

$

348,903

 

Cost of sales

 

 

194,514

 

 

 

41,585

 

 

 

33,025

 

 

 

269,124

 

Operating expenses(1)

 

 

55,125

 

 

 

18,842

 

 

 

6,926

 

 

 

80,893

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

5,837

 

 

 

3,641

 

 

 

4,174

 

 

 

13,652

 

Adjustment items(2)

 

 

18,480

 

 

 

10,317

 

 

 

4,295

 

 

 

33,092

 

Adjusted EBITDA

 

 

45,855

 

 

 

(2,069

)

 

 

1,844

 

 

 

45,630

 

Less: Interest Expense

 

 

 

 

 

 

 

 

 

 

 

(215

)

Add: Interest Income

 

 

 

 

 

 

 

 

 

 

 

2,747

 

Less: Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(13,652

)

Less: Impairment

 

 

 

 

 

 

 

 

 

 

 

(10,050

)

Less: Share-based compensation

 

 

 

 

 

 

 

 

 

 

 

(4,113

)

Less: Senior leadership transition and organizational realignment costs

 

 

 

 

 

 

 

 

 

 

 

(196

)

Less: ERP implementation costs

 

 

 

 

 

 

 

 

 

 

 

(999

)

Less: Marine Products Transaction costs

 

 

 

 

 

 

 

 

 

 

 

(15,249

)

Less: Inventory step-up

 

 

 

 

 

 

 

 

 

 

 

(2,556

)

Income before taxes

 

 

 

 

 

 

 

 

 

 

 

1,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases of property, plant and equipment

 

 

6,124

 

 

 

1,164

 

 

 

836

 

 

 

8,124

 

 

 

 

For the Year Ended

 

 

 

June 30, 2025

 

 

 

Performance and Wake

 

 

Leisure

 

 

Consolidated

 

Net sales

 

$

240,763

 

 

$

43,440

 

 

$

284,203

 

Cost of sales

 

 

183,180

 

 

 

44,158

 

 

 

227,338

 

Operating expenses(1)

 

 

36,925

 

 

 

8,708

 

 

 

45,633

 

Adjustments:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

5,888

 

 

 

3,691

 

 

 

9,579

 

Adjustment items(2)

 

 

3,225

 

 

 

349

 

 

 

3,574

 

Adjusted EBITDA

 

 

29,771

 

 

 

(5,386

)

 

 

24,385

 

Less: Interest Expense

 

 

 

 

 

 

 

 

(1,169

)

Add: Interest Income

 

 

 

 

 

 

 

 

3,472

 

Less: Depreciation and amortization

 

 

 

 

 

 

 

 

(9,579

)

Less: Share-based compensation

 

 

 

 

 

 

 

 

(2,915

)

Less: Senior leadership transition and organizational realignment costs

 

 

 

 

 

 

 

 

(659

)

Income before taxes

 

 

 

 

 

 

 

 

13,535

 

 

 

 

 

 

 

 

 

 

 

Purchases of property, plant and equipment

 

 

7,219

 

 

 

1,979

 

 

 

9,198

 

 

 

 

 

For the Year Ended

 

 

 

June 30, 2024

 

 

 

Performance and Wake

 

 

Leisure

 

 

Consolidated

 

Net sales

 

$

262,736

 

 

$

59,615

 

 

$

322,351

 

Cost of sales

 

 

197,622

 

 

 

53,119

 

 

 

250,741

 

Operating expenses(1)

 

 

35,541

 

 

 

8,593

 

 

 

44,134

 

Adjustments:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

5,109

 

 

 

3,266

 

 

 

8,375

 

Adjustment items(2)

 

 

4,180

 

 

 

130

 

 

 

4,310

 

Adjusted EBITDA

 

 

38,862

 

 

 

1,299

 

 

 

40,161

 

Less: Interest Expense

 

 

 

 

 

 

 

 

(3,292

)

Add: Interest Income

 

 

 

 

 

 

 

 

5,789

 

Less: Depreciation and amortization

 

 

 

 

 

 

 

 

(8,375

)

Less: Share-based compensation

 

 

 

 

 

 

 

 

(2,602

)

Less: Senior leadership transition and organizational realignment costs

 

 

 

 

 

 

 

 

(1,708

)

Income before taxes

 

 

 

 

 

 

 

 

29,973

 

 

 

 

 

 

 

 

 

 

 

Purchases of property, plant and equipment

 

 

7,912

 

 

 

2,613

 

 

 

10,525

 
(1)
Operating expenses include selling and marketing expenses, general and administrative expenses, and amortization of other intangible assets.
(2)
Adjustment items include share-based compensation, senior leadership transition and organizational realignment costs, ERP implementation costs, impairment, Marine Products Transaction costs, and inventory step-up.

The following table presents total assets for the Company’s reportable segments as of June 30, 2026 and 2025.

 

 

June 30, 2026

 

 

June 30, 2025

 

Assets:

 

 

 

 

 

 

Performance and Wake

 

$

165,892

 

 

$

213,942

 

Leisure

 

 

32,919

 

 

 

46,006

 

Recreation and Sport Fishing

 

 

301,621

 

 

 

—

 

Total assets

 

$

500,432

 

 

$

259,948