Segment Information (Tables)

12 Months Ended

Sep. 30, 2025

Reportable segment financial information for the years ended September 30, 2025, 2024 and 2023 is as follows:


Dealerships:	For the Year Ended September 30,
	2025		2024		2023
Revenues:
New boat	$	1,158,165	$	1,118,292	$	1,223,691
Pre-owned boat	363,906		312,193		334,477
Finance & insurance income	54,959		51,494		56,325
Service, parts & other	147,951		134,591		140,734
Total revenues	1,724,981		1,616,570		1,755,227

Cost of sales:
New boat (1)	973,411		919,596		955,222
Pre-owned boat	298,361		248,068		258,524
Service, parts & other	72,924		65,479		65,927
Total cost of sales	1,344,696		1,233,143		1,279,673

Selling, general and administrative expenses (2)	283,215		276,113		286,426
Interest expense - floor plan	28,469		34,087		25,080
Segment income	$	68,601	$	73,227	$	164,048

(1) Cost of sales - new boat excludes restructuring and impairment charges.
(2) Selling, general and administrative expenses exclude equity-based compensation.


Distribution:	For the Year Ended September 30,
	2025		2024		2023
Revenues:
Service, parts & other	$	147,353	$	156,060	$	181,083
Cost of sales:
Service, parts & other (1)	96,271		98,706		118,621

Selling, general and administrative expenses	49,571		48,124		50,137
Segment income	$	1,511	$	9,230	$	12,325

(1) Cost of sales - Service, parts & other excludes depreciation and amortization and restructuring and impairment charges


	For the Year Ended September 30,
Reconciliation of segment income:	2025		2024		2023
Dealership segment income	$	68,601	$	73,227	$	164,048
Distribution segment income	1,511		9,230		12,325
Segment income	70,112		82,457		176,373
Interest expense - other	(36,183)		(37,050)		(34,557)
Restructuring and impairment	(149,678)		(15,318)		(147,400)
Change in fair value of contingent consideration	2,133		(4,248)		1,604
Equity-based compensation	(10,499)		(8,443)		(8,962)
Transaction costs	(1,547)		(1,530)		(1,839)
Depreciation and amortization	(24,440)		(22,187)		(26,789)
Other expense, net	(1,429)		(14)		(953)
Net (loss) income before income tax (benefit) expense	$	(151,531)	$	(6,333)	$	(42,523)


	For the Year Ended September 30,
Interest expense - other:	2025		2024		2023
Dealership segment	$	36,183	$	37,050	$	34,557
Distribution segment	—		—		—
Total interest expense - other	$	36,183	$	37,050	$	34,557