BUSINESS SEGMENT

3 Months Ended

Mar. 31, 2026

BUSINESS SEGMENT

BUSINESS SEGMENT

8.    BUSINESS SEGMENT

MPC has one reportable segment — its Powerboat Manufacturing business. The Chief Operating Decision Maker (CODM) makes resource allocation and performance assessment decisions based on this segment as a whole. MPC's CODM is the Chief Executive Officer. In addition, the Company’s results of operations and its financial condition are not significantly reliant upon any single customer or product model.

Significant segment expenses for the three months ended March 31, 2026 and 2025 are shown in the following table:

	Three months ended
	March 31,
(in thousands)	2026		2025
Materials	$	35,726	$	31,129
Overhead		6,961		5,697
Labor costs		7,439		6,387
Other cost of goods sold (1)		5,336		4,836
Cost of goods sold	$	55,462	$	48,049
Employment costs	$	4,632	$	3,806
Warranty expense		1,070		927
Other selling, general and administrative expenses (2)		3,122		3,607
Selling, general and administrative expenses	$	8,824	$	8,340
Merger related costs	$	4,966	$	-

(1) Comprised primarily of accessories cost.

(2) Includes professional fees, insurance, advertising and promotions, research and development and other costs.