Malibu Boats net sales increased 13.5% in the quarter ended September 30 2025, with unit volume increasing more than 10% by 105 units to 1,129 units compared to the same quarter in 2024.
Net sales totalled $194.7 million, and the company’s net loss decreased 86.2% from a net loss of $5.1 million to a net loss of $0.7 million.
Gross profit decreased 1% to $27.9 million and adjusted EBITDA increased 19.1% to $11.8 million.
Adjusted EBITDA in the quarter increased 19.1% to $11.8 million from $9.9 million, while EBITDA margin increased to 6.1% from 5.8% compared to the same period in 2024.
“We delivered strong results in the first quarter in what continues to be a challenging market environment,” explained Steve Menneto, president and chief executive officer of Malibu Boats.
We delivered strong results in the first quarter in what continues to be a challenging market environment.
Steve Menneto
“Prioritising dealer health remains central to our strategy, and our team executed with discipline to keep channel inventories aligned.”
The increase in net sales was driven primarily by increased unit volumes in the Malibu segment.
In addition, Malibu says a favourable model mix in its Cobalt segment and inflation-driven year-over-year price increases, contributed to the sales increase.
This was partially offset by decreased unit volumes in the Cobalt and Saltwater Fishing segments and an unfavourable segment mix.
Higher wholesale shipments
The unit volume increased primarily due to higher wholesale shipments across the Malibu segment, partially offset by lower wholesale shipments in the Cobalt and Saltwater Fishing segments.
“Our first-quarter results modestly exceeded our expectations, underscoring solid execution and operational discipline,” explained Bruce Beckman, chief financial officer of Malibu Boats.
“We continue to focus on efficiency, cost management, and maintaining balance sheet strength which provides flexibility to navigate near-term conditions and capture opportunity as the market improves.”
For the full financial year, the company expects net sales to be flat or even down to mid-single digits year-over-year, with an EBITDA margin ranging from 8%-9%.
