v3.26.3
Segment Reporting (Tables)
 3 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following table presents financial information for the Company’s reportable segments for the three months ended September 30, 2026 and 2025.
Three Months Ended September 30, 2026
MalibuSaltwater FishingCobalt
Saxdor 4
Total
Net sales$71,459 $68,854 $61,519 $51,109 $252,941 
Cost of sales (excluding depreciation)58,148 57,624 51,548 40,138 207,458 
Sales and marketing expense2,849 2,647 1,121 1,716 8,333 
General and administrative expense (excluding depreciation) 1
4,631 4,632 3,473 3,510 16,246 
Other segment items 2
— — — 1,660 1,660 
Segment Adjusted EBITDA5,831 3,951 5,377 4,085 19,244 
Reconciliation of segment adjusted EBITDA to income before income taxes:
Corporate expenses and other 3
(1,992)
Depreciation8,214 
Amortization4,707 
Income before income taxes
$8,315 
Three Months Ended September 30, 2025
MalibuSaltwater FishingCobaltTotal
Net sales$78,647 $64,318 $51,768 $194,733 
Cost of sales (excluding depreciation)60,492 54,631 44,069 159,192 
Sales and marketing expense2,798 2,281 1,214 6,293 
General and administrative expense (excluding depreciation) 1
4,471 4,425 3,441 12,337 
Other segment items 2
(10)— — (10)
Segment Adjusted EBITDA10,896 2,981 3,044 16,921 
Reconciliation of segment adjusted EBITDA to loss before income taxes:
Corporate expenses and other 3
7,469 
Depreciation8,138 
Amortization1,713 
Loss before income taxes
$(399)
1 The primary difference between this significant segment expense and “general and administrative expense” within the Company’s Condensed Consolidated Statements of Operations relates to stock-based compensation, professional fees and litigation settlements which all fall under the "corporate expenses and other" category discussed below.
2 Other segment items includes other expense (income) including items such as sublease income and currency translation.
3 Corporate expenses and other represents costs incurred at the corporate level that are not allocated to the operating segments, specifically relating to certain executive compensation including stock-based compensation, corporate professional fees, litigation settlements, acquisition and integration related expenses, interest expense, adjustments to tax receivable agreement, other corporate costs, and unallocated shared service function expenses. The amount is also net of a $15.0 million reduction of general and administrative expense from insurance proceeds received in July 2023 from Starr that are no longer subject to a
reservation of rights. “Corporate expenses and other” is included in the table above to reconcile the total of Segment adjusted EBITDA to the Company’s consolidated net income (loss) before income taxes.
4 Saxdor was acquired on March 2, 2026. Given the recent nature of the acquisition, the Company has not yet allocated corporate costs to this segment.