{"success":true,"data":{"pressRelease":{"id":"129098","rtpr_id":"nGNX6Cd6Wx","ticker":"MBUU","exchange":"NASDAQ","all_tickers":["MBUU"],"title":"Malibu Boats, Inc. Announces Fourth Quarter and Full Year Fiscal 2026 Results","author":"Globe Newswire","published_at":"2026-08-27T11:00:00.991Z","article_body":"LOUDON, Tenn., Aug. 27, 2026 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq:\nMBUU) today announced its financial results for the fourth quarter and fiscal\nyear ended June 30, 2026.\n\nFourth Quarter Fiscal 2026 Highlights Compared to Fourth Quarter Fiscal 2025\n* Net sales increased 42.7% to $295.5 million\n* Unit volume increased 19.2% to 1,456 units\n* Gross profit increased 59.4% to $52.2 million\n* General and administrative expenses increased to $31.8 million\n* GAAP net income increased 53.7% to $7.4 million\n* GAAP net income available to Class A Common Stock per share (diluted)\nincreased 54.2% to $0.37 per share\n* Adjusted EBITDA increased 72.7% to $33.9 million\n* Adjusted net income per share increased 119.0% to $0.92 per share on a\nweighted average share count of 19.7 million shares of Class A Common Stock\n* Cash flows provided by operating activities increased 28.1% to $27.0 million\n* Free cash flow increased 19.3% to $17.0 million\nFiscal Year 2026 Highlights Compared to Fiscal Year 2025\n* Net sales increased 13.3% to $914.6 million\n* Unit volume increased 0.9% to 4,944 units\n* Gross profit increased 1.7% to $146.5 million\n* General and administrative expenses increased to $105.1 million\n* GAAP net income decreased 88.8% to $1.7 million\n* GAAP net income available to Class A Common Stock per share (diluted)\ndecreased 88.2% to $0.09 per share\n* Adjusted EBITDA decreased 1.1% to $73.9 million\n* Adjusted net income per share decreased 3.8% to $1.52 on a weighted average\nshare count of 19.3 million shares of Class A Common Stock\n* Cash flows provided by operating activities increased 19.5% to $67.5 million\n* Free cash flow increased 48.3% to $43.2 million\nSteve Menneto, President and Chief Executive Officer of Malibu Boats, Inc.,\ncommented, \"Fiscal 2026 demonstrated the power of our strategic execution. We\ndelivered a strong finish to the year, driven by better than expected net\nsales, disciplined cost management, dealer network optimization, and the\nsuccessful integration of Saxdor in our first four months with the business.\nWe also invested meaningfully in innovation as our Model Year 2026 lineup\nadded eleven new models across the portfolio that brought new features as well\nas value to our product line. The Saxdor integration is progressing well, with\nthe completion of our first domestically-built Saxdor boats at our Fort\nPierce, Florida facility expected in the first half of fiscal 2027. While\nwe're seeing early signs of stabilization across the industry, we are\ncontending with macro disruptions that continue to pressure the payment buyer,\nwhich presents a near-term headwind to an inflection in the cycle. That said,\nwe like how we're positioned relative to the industry heading into fiscal 2027\nand expect to build on the momentum we established, while remaining\nintentional about our outlook until we see more durable evidence of a broader\nrecovery.\"\n\nDavid Black, Chief Financial Officer of Malibu Boats, Inc., added, \"We closed\nthe year with a strong balance sheet and began our new fiscal year with the\ncompletion of our credit agreement refinancing, which extends our maturity\nthrough 2031 and gives us added liquidity and flexibility. Our leverage\nremains well below our stated maximum target, even after financing the Saxdor\nacquisition. While we chose to pause our open market purchases during our\nlender negotiations, the Board authorized a new $70 million share repurchase\nprogram for fiscal 2027 in June, and we closed our refinancing in July,\nunderscoring our confidence in the business and our commitment to returning\ncapital to shareholders. With that flexibility now in place, we remain\nopportunistic on capital allocation and are well positioned to keep investing\nin the business as we move through fiscal 2027.\"   \n\nResults of Operations for the Fourth Quarter and Fiscal Year 2026 (Unaudited)\n\n                           Three Months Ended June 30,                           Fiscal Year Ended June 30,                      \n                                 2026                       2025                       2026                       2025           \n                                                                                                                                 \n                           (In thousands, except unit and per unit data)                                                         \n Net Sales                 $     295,537              $     207,039              $     914,590              $     807,561        \n Gross Profit              $     52,190               $     32,740               $     146,520              $     144,091        \n Gross Profit Margin             17.7     %                 15.8     %                 16.0     %                 17.8     %     \n Net Income                $     7,366                $     4,793                $     1,707                $     15,240         \n Net Income Margin               2.5      %                 2.3      %                 0.2      %                 1.9      %     \n Adjusted EBITDA           $     33,946               $     19,657               $     73,936               $     74,770         \n Adjusted EBITDA Margin          11.5     %                 9.5      %                 8.1      %                 9.3      %     \n                                                                                                                                 \n\nComparison of the Fourth Quarter Ended June 30, 2026 to the Fourth Quarter\nEnded June 30, 2025\n\nNet sales for the three months ended June 30, 2026 increased $88.5 million,\nor 42.7%, to $295.5 million, compared to the three months ended June 30,\n2025. The increase in net sales was driven primarily by $61.2 million of\nrevenue from the new Saxdor segment due to the recent acquisition, increased\nunit volumes in our Cobalt and Saltwater segments, a favorable model mix\nacross all three existing segments, and year-over-year price increases,\npartially offset by decreased unit volumes in our Malibu segment. Unit volume\nfor the three months ended June 30, 2026 increased 235 units, or 19.2%, to\n1,456 units compared to the three months ended June 30, 2025. Our unit volume\nincreased primarily due to an additional 180 units contributed by Saxdor as\nwell as increased unit volume in our Cobalt and Saltwater segments, partially\noffset by decreased unit volumes in our Malibu segment.\n\nNet sales attributable to our Malibu segment increased $2.6 million, or 3.2%,\nto $82.9 million for the three months ended June 30, 2026 compared to the\nthree months ended June 30, 2025. Unit volumes attributable to our Malibu\nsegment decreased 14 units, or 2.5%, for the three months ended June 30,\n2026 compared to the three months ended June 30, 2025, primarily due to lower\nwholesale shipments driven by lower retail activity. The increase in net sales\nwas driven by a favorable model mix and year-over-year price increases,\npartially offset by a decrease in units.\n\nNet sales attributable to our Saltwater Fishing segment increased $8.1\nmillion, or 11.1%, to $80.9 million, for the three months ended June 30,\n2026, compared to the three months ended June 30, 2025. Unit volumes\nincreased 7 units, or 2.2% for the three months ended June 30, 2026 compared\nto the three months ended June 30, 2025, primarily due to higher wholesale\nshipments as a result of firming dealer inventory levels in pockets of the\nportfolio. The increase in net sales was driven by an increase in units, a\nfavorable model mix and year-over-year price increases.\n\nNet sales attributable to our Cobalt segment increased $16.7 million, or\n31.0%, to $70.5 million for the three months ended June 30, 2026 compared to\nthe three months ended June 30, 2025. Unit volumes attributable to Cobalt\nincreased 62 units, or 18.9% for the three months ended June 30, 2026\ncompared to the three months ended June 30, 2025, primarily due to higher\nwholesale shipments as a result of firming dealer inventory levels in pockets\nof the portfolio. The increase in net sales was driven by an increase in\nunits, a favorable model mix and year-over-year price increases.\n\nNet sales attributable to our Saxdor segment were $61.2 million for the three\nmonths ended June 30, 2026. Unit volumes were 180 units for the three months\nended June 30, 2026.\n\nOverall consolidated net sales per unit increased 19.7% to $202,979 per unit\nfor the three months ended June 30, 2026 compared to the three months ended\nJune 30, 2025. Net sales per unit for our Malibu segment increased 5.8% to\n$149,110 per unit for the three months ended June 30, 2026 compared to the\nthree months ended June 30, 2025, driven by a favorable model mix and\nyear-over-year price increases. Net sales per unit for our Saltwater Fishing\nsegment increased 8.7% to $245,267 for the three months ended June 30, 2026\ncompared to the three months ended June 30, 2025, driven by a favorable model\nmix and year-over-year price increases. Net sales per unit for our Cobalt\nsegment increased 10.2% to $180,841 per unit for the three months ended\nJune 30, 2026 compared to the three months ended June 30, 2025, driven by\nfavorable model mix and year-over-year price increases. For the three months\nended June 30, 2026, net sales per unit for our Saxdor segment were $339,811.\n\nCost of sales for the three months ended June 30, 2026 increased $69.0\nmillion, or 39.6%, to $243.3 million as compared to the three months ended\nJune 30, 2025. The increase in cost of sales was primarily driven by cost of\nsales from the new Saxdor segment due to the recent acquisition, a 19.2%\nincrease in units, a more expensive model mix across all three existing\nsegments and inflationary pressures. In the Malibu, Saltwater Fishing and\nCobalt segments, per unit material and labor costs were a net increase of\n$0.1 million, $6.4 million, and $3.3 million, respectively, driven by\ninflationary pressures and an increased mix of models that corresponded with\nhigher net sales per unit.\n\nGross profit for the three months ended June 30, 2026 increased $19.5\nmillion, or 59.4%, to $52.2 million compared to the three months ended\nJune 30, 2025. The increase in gross profit was driven primarily by higher\nnet sales, partially offset by increased cost of sales for the reasons noted\nabove. Gross margin for the three months ended June 30, 2026 increased 190\nbasis points from 15.8% to 17.7%, driven by an increased mix of models that\ncarry a higher gross margin.\n\nSelling and marketing expenses for the three months ended June 30, 2026\nincreased $1.4 million, or 25.7%, to $6.8 million compared to the three months\nended June 30, 2025. The increase was driven primarily by higher\npersonnel-related expenses and an incremental increase due to the new Saxdor\nsegment. As a percentage of sales, selling and marketing expenses decreased 30\nbasis points to 2.3% for the three months ended June 30, 2026 as compared to\nthe three months ended June 30, 2025. General and administrative expenses for\nthe three months ended June 30, 2026 increased $12.9 million, or 68.8%, to\n$31.8 million as compared to the three months ended June 30, 2025. The\nincrease in general and administrative expenses was driven primarily by\nacquisition related expenses incurred due to the Saxdor acquisition, an\nincremental increase due to the new Saxdor segment and increases in incentive\npay. As a percentage of sales, general and administrative expenses increased\n170 basis points to 10.8% for the three months ended June 30, 2026 compared\nto the three months ended June 30, 2025. Amortization expense for the three\nmonths ended June 30, 2026 increased $2.6 million to $4.3 million for the\nthree months ended June 30, 2026 as compared to the three months ended\nJune 30, 2025. The increase was due to the additional intangibles acquired\nfrom the Saxdor acquisition.\n\nOperating income for the three months ended June 30, 2026 increased to $9.3\nmillion from $6.8 million for the three months ended June 30, 2025. Net\nincome for the three months ended June 30, 2026 increased 53.7% to a net\nincome of $7.4 million from $4.8 million and net income margin increased to\n2.5% from 2.3% for the three months ended June 30, 2025. Adjusted EBITDA for\nthe three months ended June 30, 2026 increased 72.7% to $33.9 million from\n$19.7 million, while Adjusted EBITDA margin increased to 11.5% from 9.5% for\nthe three months ended June 30, 2025.\n\nComparison of the Fiscal Year Ended June 30, 2026 to the Fiscal Year Ended\nJune 30, 2025\n\nNet sales for fiscal year 2026 increased $107.0 million, or 13.3%, to $914.6\nmillion, compared to fiscal year 2025. The increase in net sales was driven\nprimarily by $84.3 million of revenue from the new Saxdor segment due to the\nrecent acquisition, a favorable model mix across all three existing segments\nand year-over-year price increases, partially offset by decreased unit volumes\nacross all three existing segments resulting primarily from lower wholesale\nshipments. Unit volume for fiscal year 2026 increased 46 units, or 0.9%, to\n4,944 units compared to fiscal year 2025. Our unit volume increased primarily\ndue to an additional 246 units contributed by Saxdor, partially offset by\nlower wholesale shipments across all three existing segments driven by lower\nretail activity.\n\nNet sales attributable to our Malibu segment increased $0.2 million,\nor 0.1%, to $312.9 million for fiscal year 2026 compared to fiscal year\n2025. Unit volumes attributable to our Malibu segment decreased 73 units for\nfiscal year 2026 compared to fiscal year 2025, primarily due to lower\nwholesale shipments driven by lower retail activity during the period. The\nincrease in net sales was primarily driven by a favorable model mix and\nyear-over-year price increases, partially offset by a decrease in units.\n\nNet sales attributable to our Saltwater Fishing segment increased $4.4\nmillion, or 1.6%, to $284.0 million for fiscal year 2026 compared to fiscal\nyear 2025. Unit volumes decreased 53 units for fiscal year 2026 compared to\nfiscal year 2025, primarily due to lower wholesale shipments driven by lower\nretail activity during the period. The increase in net sales was driven by a\nfavorable model mix and year-over-year price increases, partially offset by a\ndecrease in units.\n\nNet sales attributable to our Cobalt segment increased $18.1 million, or 8.4%,\nto $233.4 million for fiscal year 2026 compared to fiscal year 2025. Unit\nvolumes attributable to Cobalt decreased 74 units for fiscal year 2026\ncompared to fiscal year 2025, primarily due to lower wholesale shipments\ndriven by lower retail activity and our dealers' desire to hold less\ninventory. The increase in net sales was driven primarily by a favorable model\nmix and year-over-year price increases, partially offset by a decrease in\nunits.\n\nSince our acquisition on March 2, 2026, net sales and unit volume attributable\nto our Saxdor segment were $84.3 million and 246 units, respectively for the\nyear ended June 30, 2026.\n\nOverall consolidated net sales per unit increased 12.2% to $184,990 per\nunit for fiscal year 2026 compared to fiscal year 2025. Net sales per unit for\nour Malibu segment increased 3.5% to $145,538 per unit for fiscal year 2026\ncompared to fiscal year 2025, driven by a favorable model mix and\nyear-over-year price increases, partially offset by increased dealer incentive\ncosts per unit. Net sales per unit for our Saltwater Fishing segment increased\n6.0% to $234,135 per unit for fiscal year 2026 compared to fiscal year 2025,\ndriven by a favorable model mix and year-over-year price increases, partially\noffset by increased dealer incentive costs per unit. Net sales per unit for\nour Cobalt segment increased 14.4% to $174,812 per unit for fiscal year 2026\ncompared to fiscal year 2025, driven by favorable model mix and year-over-year\nprice increases. Since our acquisition on March 2, 2026, net sales per unit\nfor our Saxdor segment was $342,695.\n\nCost of sales for fiscal year 2026 increased $104.6 million, or 15.8%, to\n$768.1 million compared to fiscal year 2025. The increase in cost of sales was\nprimarily driven by cost of sales from the new Saxdor segment due to the\nrecent acquisition and higher per unit material and labor costs for the\nMalibu, Saltwater Fishing, and Cobalt segments. In the Malibu segment, per\nunit material and labor costs increased by $10.9 million driven by a more\nexpensive model mix that corresponded with higher net sales per unit and\ninflationary pressures. In the Saltwater Fishing segment, per unit material\nand labor costs increased $16.9 million driven by a more expensive model mix\nthat corresponded with higher net sales per unit and inflationary pressures.\nIn the Cobalt segment, per unit material and labor costs increased\n$21.9 million driven by a more expensive model mix that corresponded with\nhigher net sales per unit and inflationary pressures.\n\nGross profit for fiscal year 2026 increased $2.4 million, or 1.7%, compared to\nfiscal year 2025. The increase in gross profit was driven primarily by higher\nnet sales, partially offset by increased cost of sales for the reasons noted\nabove. Gross margin for fiscal year 2026 decreased 180 basis points from 17.8%\nto 16.0% driven primarily by higher per unit material and labor costs.\n\nGeneral and administrative expense for fiscal year 2026 increased $12.7\nmillion, or 13.7%, to $105.1 million compared to fiscal year 2025. The\nincrease in general and administrative expenses was primarily driven by\nacquisition related expenses incurred due to the Saxdor acquisition, an\nincremental increase due to the new Saxdor segment and increases in incentive\npay and salaries, partially offset by a $3.5 million legal settlement in\nfiscal year 2025 along with decreased legal fees. As a percentage of sales,\ngeneral and administrative expenses increased 10 basis points to 11.5% for\nfiscal year 2026 compared to 11.4% for fiscal year 2025. Selling and marketing\nexpense for fiscal year 2026 increased $4.4 million, or 19.1% to $27.5 million\ncompared to fiscal year 2025. The increase was driven primarily by higher\npersonnel-related expenses and marketing events and an incremental increase\ndue to the new Saxdor segment. As a percentage of sales, selling and marketing\nexpense increased 10 basis points to 3.0% for fiscal year 2026 compared to\n2.9% for fiscal year 2025. Amortization expense for fiscal year 2026 increased\n$4.0 million to $10.8 million due to the additional intangibles acquired from\nthe Saxdor acquisition.\n\nOperating income for fiscal year 2026 decreased to $3.1 million from $21.8\nmillion for fiscal year 2025. Net income for fiscal year 2026 decreased 88.8%\nto $1.7 million from $15.2 million and net income margin decreased to 0.2% for\nfiscal year 2026 from 1.9% for fiscal year 2025. Adjusted EBITDA for fiscal\nyear 2026 decreased 1.1% to $73.9 million from $74.8 million, while Adjusted\nEBITDA margin decreased to 8.1% for fiscal year 2026 from 9.3% for fiscal year\n2025.\n\nBalance Sheet, Cash Flow and Capital Allocation\n\nAs of June 30, 2026, the Company had $74.4 million of cash and $165.0 million\nof long-term debt, providing ample flexibility to support continued investment\nand the return of capital to shareholders.\n\nAs previously announced, on July 10, 2026, the Company successfully completed\na refinancing of its credit facility extending the maturity date to July 2031\nand enhancing its financial flexibility. The new structure includes a $100.0\nmillion term loan facility alongside a $250.0 million revolving credit\nfacility, replacing the prior $350.0 million revolving facility. The\nrefinancing strengthens the Company's liquidity position and provides\ncontinued flexibility through an extended maturity to support continued\ninvestment in the business, Saxdor integration, and disciplined growth\nopportunities.\n\nWhile the Company paused its share repurchase activities during the\nrefinancing negotiations, the Board of Directors authorized a new $70 million\nshare repurchase program for Fiscal 2027 in June 2026, reflecting strong\nconfidence in the business and the Company's commitment to returning capital\nto shareholders while maintaining balance sheet strength.\n\nFor the full fiscal year ended June 30, 2026, the Company generated $67.5\nmillion of cash from operations and invested $24.7 million in capital\nexpenditures. Free cash flow was approximately $43.2 million, including\nnominal impacts from proceeds received on the sale of property, plant and\nequipment.\n\nFiscal 2027 Guidance\n\nFor the full fiscal year 2027, Malibu anticipates net sales in the range of\n$1.08 billion to $1.12 billion year-over-year, and Adjusted EBITDA ranging\nfrom $101 million to $109 million.\n\nThe Company has not provided reconciliations of guidance for Adjusted EBITDA,\nin reliance on the unreasonable efforts exception provided under Item\n10(e)(1)(i)(B) of Regulation S-K. The Company is unable, without unreasonable\nefforts, to forecast certain items required to develop meaningful comparable\nGAAP financial measures. These items include costs related to the Company’s\nvertical integration initiatives, acquisition integration initiatives,\nstock-based compensation expense and litigation expenses that are difficult to\npredict in advance in order to include in a GAAP estimate.\n\nWebcast and Conference Call Information\n\nThe Company will host a webcast and conference call to discuss fourth quarter\nand fiscal year 2026 results on Thursday, August 27, 2026, at 8:30 a.m.\nEastern Time. Investors and analysts can participate on the conference call by\ndialing (844) 695-5523 or (412) 317-0699 and requesting Malibu Boats.\nAlternatively, interested parties can listen to a live webcast of the\nconference call by logging on to the Investor Relations section on the\nCompany’s website at http://investors.malibuboats.com. A replay of the\nwebcast will also be archived on the Company’s website for twelve months.\n\nAbout Malibu Boats, Inc.\n\nBased in Loudon, Tennessee, Malibu Boats, Inc. (MBUU) is a leading designer,\nmanufacturer and marketer of a diverse range of recreational powerboats,\nincluding performance sport boats, sterndrive boats, outboard boats, and\npremium adventure dayboats. Malibu Boats, Inc. is among the market leaders in\nthe performance sport boat category through its Malibu and Axis boat brands,\namong the market leaders in the 20’ - 40’ segment of the sterndrive boat\ncategory through its Cobalt brand, and among the market leaders in the\nfiberglass outboard fishing boat market with its Pursuit and Maverick Boat\nGroup brands, and among the market leaders in the premium adventure dayboat\nemerging market with its Saxdor brand. A pre-eminent innovator in the\npowerboat industry, Malibu Boats, Inc. designs products that appeal to an\nexpanding range of recreational boaters, fishermen and water sports\nenthusiasts whose passion for boating is a key component of their active\nlifestyles. For more information, visit www.malibuboats.com, www.axiswake.com,\nwww.cobaltboats.com, www.pursuitboats.com, www.maverickboatgroup.com, or\nwww.saxdoryachts.com. \n\nNon-GAAP Financial Measures\n\nThis release includes the following financial measures defined as non-GAAP\nfinancial measures by the Securities and Exchange Commission: Adjusted EBITDA,\nAdjusted EBITDA margin, adjusted net income, adjusted net income per share,\nand Free Cash Flow. These measures have limitations as analytical tools and\nshould not be considered as an alternative to, or more meaningful than, net\nincome as determined in accordance with U.S. generally accepted accounting\nprinciples (“GAAP”) or as an indicator of our liquidity. Our presentation\nof these non-GAAP financial measures should also not be construed as an\ninference that our results will be unaffected by unusual or non-recurring\nitems. Our computations of these non-GAAP financial measures may not be\ncomparable to other similarly titled measures of other companies.\n\nWe define Adjusted EBITDA as net income before interest expense, income taxes,\ndepreciation, amortization, and non-cash, non-operating expenses, or other\nexpenses that we do not believe are indicative of our ongoing expenses,\nincluding litigation settlements, acquisition and integration related\nexpenses, adjustment to earnout liability, certain professional fees, non-cash\ncompensation expense and adjustments to our tax receivable agreement\nliability. We define Adjusted EBITDA margin as Adjusted EBITDA divided by net\nsales. Adjusted EBITDA and Adjusted EBITDA margin are not measures of net\nincome as determined by GAAP. Management believes Adjusted EBITDA and Adjusted\nEBITDA margin allow investors to evaluate our operating performance and\ncompare our results of operations from period to period on a consistent basis\nby excluding items that management does not believe are indicative of our core\noperating performance. Management uses Adjusted EBITDA to assist in\nhighlighting trends in our operating results without regard to our financing\nmethods, capital structure and non-recurring or non-operating expenses. We\nexclude the items listed above from net income in arriving at Adjusted EBITDA\nbecause these amounts can vary substantially from company to company within\nour industry depending upon accounting methods and book values of assets,\ncapital structures, the methods by which assets were acquired and other\nfactors. Adjusted EBITDA has limitations as an analytical tool and should not\nbe considered as an alternative to, or more meaningful than, net income as\ndetermined in accordance with GAAP or as an indicator of our liquidity.\n\nCertain items excluded from Adjusted EBITDA are significant components in\nunderstanding and assessing a company’s financial performance, such as a\ncompany’s cost of capital and tax structure, as well as the historical costs\nof depreciable assets.\n\nAdjusted net income per share is a non-GAAP financial measure that is used and\ndisclosed by management in order to give management and its investors and\nanalysts a more accurate picture of our underlying earnings performance.\nAdjusted net income per share, excludes items that management does not believe\nare indicative of our core operating performance.\n\nWe define adjusted net income per share as net income attributable to Malibu\nBoats, Inc. per share, excluding income tax expense, and non-cash,\nnon-operating expenses, or other expenses that we do not believe are\nindicative of our ongoing expenses, litigation settlements, acquisition\nrelated amortization, acquisition and integration related expenses, adjustment\nto earnout liability, certain professional fees and non-cash compensation\nexpense, and reflecting an adjustment for income tax expense on adjusted\nincome before income taxes at our estimated effective income tax rate.\n\nWe exclude the items listed above from net income per share in arriving at\nadjusted net income per share because these amounts can vary substantially\nfrom company to company within our industry depending upon accounting methods\nand book values of assets, the methods by which assets were acquired and other\nfactors. Adjusted net income per share has limitations as an analytical tool\nand should not be considered as an alternative to, or more meaningful than,\nnet income per share as determined in accordance with GAAP or as an indicator\nof our liquidity. Certain items excluded are significant components in\nunderstanding and assessing a company’s financial performance. Our\npresentation of adjusted net income per share should not be construed as an\ninference that our results will be unaffected by unusual or non-recurring\nitems. Our computation of this measure may not be comparable to other\nsimilarly titled measures of other companies.\n\nA reconciliation of our net income as determined in accordance with GAAP to\nAdjusted EBITDA and a reconciliation of net income per share attributable to\nMalibu Boats, Inc. as determined in accordance with GAAP to adjusted net\nincome per share is provided under \"Reconciliation of Non-GAAP Financial\nMeasures\".\n\nWe define Free Cash Flow as net cash provided by operating activities, plus\ncash used for capital expenditures and plus proceeds from the sale of property\nplant and equipment.\n\nFree Cash Flow has limitations as an analytical tool and should not be\nconsidered as an alternative to, or more meaningful than, net cash provided by\noperating activities as determined in accordance with GAAP or as an indicator\nof our liquidity. Our computation of this measure may not be comparable to\nother similarly titled measures of other companies.\n\nA reconciliation of our net cash provided by operating activities as\ndetermined in accordance with GAAP to Free Cash Flow is provided under\n\"Reconciliation of Non-GAAP Financial Measures\".\n\nCautionary Statement Concerning Forward Looking Statements\n\nThis press release includes forward-looking statements (as such term is\ndefined in the Private Securities Litigation Reform Act of 1995).\nForward-looking statements can be identified by such words and phrases as\n“believes,” “anticipates,” “expects,” “intends,”\n“estimates,” “may,” “will,” “should,” “continue” and\nsimilar expressions, comparable terminology or the negative thereof, and\nincludes statements in this press release regarding our expectation that the\nfirst domestically-built Saxdor boats will be completed in our Fort Pierce,\nFlorida facility in the first half of fiscal 2027; our expectation that macro\ndisruptions will present a near-term headwind to an industry inflection; our\nexpectation of building on our fiscal 2026 momentum in fiscal 2027; our plans\nfor capital allocation, the Saxdor integration and continued investment in the\nbusiness in fiscal 2027; and our guidance for fiscal year 2027 net sales and\nAdjusted EBITDA.\n\nForward-looking statements are subject to risks and uncertainties that could\ncause actual results to differ materially from those expressed or implied in\nthe forward-looking statements, including, but not limited to: our large\nfixed-cost base; our ability to execute our manufacturing strategy or\naccurately forecast demand for our products; our third-party suppliers’\nincreased costs or inability to adjust for our required production levels; our\ndependence on a small group of suppliers for components; our ability to meet\nour manufacturing workforce needs; our dependence on key management employees;\nour ability to grow our business through acquisitions and integrate such\nacquisitions to fully realize their expected benefits, including our recent\nacquisition of Saxdor; our growth strategy which may require us to secure\nsignificant additional capital; our ability to enhance existing products and\ndevelop and market new or enhanced products; compromises to information\ntechnology systems or those of third parties with whom we work or our data;\ndifficulties presented by international economic, political, legal, and\nbusiness factors; general economic conditions; risks and requirements related\nto transacting business in foreign countries; the continued strength and\npositive perception of our brands; increased consumer preference for used\nboats, electric boats, alternative fuel-powered boats or the supply of new\nboats by competitors in excess of demand; an increase in energy and fuel\ncosts; the seasonality of our business; competition within our industry;\ninflation and heightened interest rates; our dependence on our network of\nindependent dealers and increasing competition for dealers; the financial\nhealth of our dealers and their continued access to financing; our obligation\nto repurchase inventory of certain dealers; our exposure to risks associated\nwith litigation, investigation and regulatory proceedings; an impairment in\nthe carrying value of goodwill, trade names and other long-lived assets;\nsignificant product repair and/or replacement costs due to product warranty\nclaims or product recalls; risks inherent in changes to U.S. trade policy,\ntariffs and import/export regulations; any failure to comply with laws and\nregulations including environmental, workplace safety and other regulatory\nrequirements; our dependence upon distributions from the LLC for any cash\nobligations of Malibu Boats, Inc.; covenants in our credit agreement governing\nour revolving credit facility which may limit our operating flexibility;\ninterest rate risk from our variable rate indebtedness; our obligation to make\ncertain payments under a tax receivable agreement; and other factors affecting\nus detailed from time to time in our filings with the Securities and Exchange\nCommission. Many of these risks and uncertainties are outside our control, and\nthere may be other risks and uncertainties which we do not currently\nanticipate because they relate to events and depend on circumstances that may\nor may not occur in the future. Although we believe that the expectations\nreflected in any forward-looking statements are based on reasonable\nassumptions at the time made, we can give no assurance that our expectations\nwill be achieved. Undue reliance should not be placed on these forward-looking\nstatements, which speak only as of the date hereof. We undertake no obligation\n(and we expressly disclaim any obligation) to update or supplement any\nforward-looking statements that may become untrue because of subsequent\nevents, whether because of new information, future events, changes in\nassumptions or otherwise. Comparison of results for current and prior periods\nare not intended to express any future trends or indications of future\nperformance, unless expressed as such, and should only be viewed as historical\ndata.\n\nInvestor\nContacts                                        \n\nMalibu Boats, Inc.\nDavid Black\nChief Financial Officer\n(865) 458-5478\nInvestorRelations@MalibuBoats.com\n\n                                                                                                                                                                                              \n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                                                                          \n                                                                                                                                                                                              \n Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)                                                                                                         \n (In thousands, except share and per share data)                                                                                                                                              \n                                                                                                                                                                                              \n                                                                                Three Months Ended June 30,                             Fiscal Year Ended June 30,                            \n                                                                                      2026                          2025                      2026                          2025              \n Net sales                                                                      $     295,537                 $     207,039             $     914,590                 $     807,561           \n Cost of sales                                                                        243,347                       174,299                   768,070                       663,470           \n Gross profit                                                                         52,190                        32,740                    146,520                       144,091           \n Operating expenses:                                                                                                                                                                          \n Selling and marketing                                                                6,773                         5,390                     27,480                        23,071            \n General and administrative                                                           31,772                        18,826                    105,136                       92,460            \n Amortization                                                                         4,302                         1,695                     10,805                        6,799             \n Operating income                                                                     9,343                         6,829                     3,099                         21,761            \n Other expense, net:                                                                                                                                                                          \n Other income, net                                                                    (2,299      )                 (359        )             (2,907      )                 (385        )     \n Interest expense                                                                     1,916                         377                       3,559                         1,883             \n Other expense, net                                                                   (383        )                 18                        652                           1,498             \n Income before provision for income taxes                                             9,726                         6,811                     2,447                         20,263            \n Provision for income taxes                                                           2,360                         2,018                     740                           5,023             \n Net income                                                                           7,366                         4,793                     1,707                         15,240            \n Net income attributable to non-controlling interest                                  134                           119                       54                            361               \n Net income attributable to Malibu Boats, Inc.                                  $     7,232                   $     4,674               $     1,653                   $     14,879            \n                                                                                                                                                                                              \n Comprehensive income:                                                                                                                                                                        \n Net income                                                                     $     7,366                   $     4,793               $     1,707                   $     15,240            \n Other comprehensive income:                                                                                                                                                                  \n Change in cumulative translation adjustment                                          (1,529      )                 1,156                     (5,985      )                 (448        )     \n Other comprehensive (loss) income                                                    (1,529      )                 1,156                     (5,985      )                 (448        )     \n Comprehensive income                                                                 5,837                         5,949                     (4,278      )                 14,792            \n Less: comprehensive income attributable to non-controlling interest                  106                           148                       54                            346               \n Comprehensive income attributable to Malibu Boats, Inc., net of tax            $     5,731                   $     5,801               $     (4,332      )           $     14,446            \n                                                                                                                                                                                              \n Weighted average shares outstanding used in computing net income per share:                                                                                                                  \n Basic                                                                                19,723,237                    19,326,533                19,304,771                    19,664,337        \n Diluted                                                                              19,759,525                    19,351,452                19,344,924                    19,694,677        \n Net income available to Class A Common Stock per share:                                                                                                                                      \n Basic                                                                          $     0.37                    $     0.24                $     0.09                    $     0.76              \n Diluted                                                                        $     0.37                    $     0.24                $     0.09                    $     0.76              \n                                                                                                                                                                                              \n\n\n\n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                                                                                                                                           \n                                                                                                                                                                                                                                                               \n Condensed Consolidated Balance Sheets (Unaudited)                                                                                                                                                                                                             \n (In thousands, except share and per share data)                                                                                                                                                                                                               \n                                                                                                                                                                                                                                                               \n                                                                                                                                                                                                               June 30, 2026            June 30, 2025          \n Assets                                                                                                                                                                                                                                                        \n Current assets                                                                                                                                                                                                                                                \n Cash                                                                                                                                                                                                          $      74,419            $      37,002          \n Trade receivables, net                                                                                                                                                                                               33,353                   23,034          \n Inventories, net                                                                                                                                                                                                     180,066                  142,163         \n Prepaid expenses and other current assets                                                                                                                                                                            17,634                   14,634          \n Assets held for sale                                                                                                                                                                                                 3,059                    3,059           \n Total current assets                                                                                                                                                                                                 308,531                  219,892         \n Property, plant and equipment, net                                                                                                                                                                                   249,663                  235,877         \n Goodwill                                                                                                                                                                                                             78,689                   51,306          \n Other intangible assets, net                                                                                                                                                                                         295,965                  168,634         \n Deferred tax asset                                                                                                                                                                                                   50,419                   51,601          \n Other assets                                                                                                                                                                                                         12,927                   7,268           \n Total assets                                                                                                                                                                                                  $      996,194           $      734,578         \n Liabilities                                                                                                                                                                                                                                                   \n Current liabilities                                                                                                                                                                                                                                           \n Accounts payable                                                                                                                                                                                                     46,790                   24,420          \n Accrued expenses                                                                                                                                                                                                     168,137                  109,770         \n Income taxes and distribution payable                                                                                                                                                                                392                      151             \n Payable pursuant to tax receivable agreement, current portion                                                                                                                                                        113                      271             \n Total current liabilities                                                                                                                                                                                            215,432                  134,612         \n Deferred tax liabilities                                                                                                                                                                                             15,424                   14,674          \n Other liabilities                                                                                                                                                                                                    33,353                   7,297           \n Payable pursuant to tax receivable agreement, less current portion                                                                                                                                                   38,559                   40,162          \n Long-term debt                                                                                                                                                                                                       165,000                  18,000          \n Total liabilities                                                                                                                                                                                                    467,768                  214,745         \n Stockholders' Equity                                                                                                                                                                                                                                          \n Class A Common Stock, par value $0.01 per share, 100,000,000 shares authorized; 19,667,592 shares issued and outstanding as of June 30, 2026; 19,225,848 shares issued and outstanding as of June 30, 2025           195                      190             \n Class B Common Stock, par value $0.01 per share, 25,000,000 shares authorized; 12 shares issued and outstanding as of June 30, 2026; 12 shares issued and outstanding as of June 30, 2025                            —                        —               \n Preferred Stock, par value $0.01 per share; 25,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026; no shares issued and outstanding as of June 30, 2025                                 —                        —               \n Additional paid in capital                                                                                                                                                                                           48,567                   35,253          \n Accumulated other comprehensive loss, net of tax                                                                                                                                                                     (10,631  )               (4,646   )      \n Accumulated earnings                                                                                                                                                                                                 486,317                  484,664         \n Total stockholders' equity attributable to Malibu Boats, Inc.                                                                                                                                                        524,448                  515,461         \n Non-controlling interest                                                                                                                                                                                             3,978                    4,372           \n Total stockholders’ equity                                                                                                                                                                                           528,426                  519,833         \n Total liabilities and stockholders' equity                                                                                                                                                                    $      996,194           $      734,578         \n                                                                                                                                                                                                                                                               \n\n\n\n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                   \n Consolidated Statements of Cash Flows                                                                                                 \n (In thousands)                                                                                                                        \n                                                                                                                                       \n                                                                                      Fiscal Year Ended June 30,                       \n                                                                                            2026                        2025           \n Operating activities:                                                                                                                 \n Net income                                                                           $     1,707                 $     15,240         \n Adjustments to reconcile net income to net cash provided by operating activities:                                                     \n Non-cash compensation expense                                                              5,603                       5,916          \n Non-cash compensation to directors                                                         1,041                       1,091          \n Depreciation                                                                               33,147                      31,794         \n Amortization                                                                               10,805                      6,799          \n Change in fair value of contingent consideration                                           (1,597    )                 —              \n Unrealized gain on foreign currency exchange                                               (1,053    )                 —              \n Deferred income taxes                                                                      2,004                       3,870          \n Adjustment to tax receivable agreement liability                                           (1,029    )                 (347     )     \n Other items, net                                                                           2,547                       2,394          \n Change in operating assets and liabilities, net of effect from acquisition:                                                           \n Trade receivables                                                                          (8,223    )                 106            \n Inventories                                                                                20,678                      3,373          \n Prepaid expenses and other assets                                                          4,011                       (493     )     \n Accounts payable                                                                           (4,543    )                 6,560          \n Income taxes receivable and payable                                                        (21       )                 269            \n Accrued expenses                                                                           6,749                       (17,758  )     \n Other liabilities                                                                          (3,559    )                 (2,308   )     \n Payment pursuant to tax receivable agreement                                               (758      )                 —              \n Net cash provided by operating activities                                                  67,509                      56,506         \n Investing activities:                                                                                                                 \n Purchases of property and equipment                                                        (24,663   )                 (27,917  )     \n Proceeds from sale of property and equipment                                               352                         543            \n Payment for acquisition, net of cash acquired                                              (118,305  )                 —              \n Net cash used in investing activities                                                      (142,616  )                 (27,374  )     \n Financing activities:                                                                                                                 \n Proceeds from revolving credit facility                                                    165,000                     48,000         \n Payments on revolving credit facility                                                      (18,000   )                 (30,000  )     \n Proceeds received from exercise of stock options                                           —                           233            \n Cash paid for tax withholdings                                                             (1,205    )                 (1,098   )     \n Distributions to non-controlling LLC Unit holders                                          (204      )                 —              \n Repurchase and retirement of Class A Common Stock                                          (33,910   )                 (35,955  )     \n Net cash provided by (used in) financing activities                                        111,681                     (18,820  )     \n Effect of exchange rate changes on cash                                                    843                         (255     )     \n Changes in cash                                                                            37,417                      10,057         \n Cash—Beginning of period                                                                   37,002                      26,945         \n Cash—End of period                                                                   $     74,419                $     37,002         \n Supplemental cash flow information:                                                                                                   \n Cash paid for interest                                                               $     3,015                 $     1,945          \n Cash paid (refund) for income taxes, net                                                   905                         (655     )     \n Non-cash operating, investing and financing activities:                                                                               \n Establishment of deferred tax assets from step-up in tax basis                             52                          367            \n Establishment of amounts payable under tax receivable agreements                           26                          167            \n Exchange of LLC Units for Class A Common Stock                                             95                          691            \n Tax distributions payable to non-controlling LLC Unit holders                              60                          —              \n Class A shares issued for acquisition                                                      41,706                      —              \n Contingent consideration issued for acquisition                                            32,599                      —              \n Escrow receivable through earnout holdback                                                 1,709                       —              \n Reclassification of properties to assets held for sale                                     —                           3,059          \n ROU assets obtained in exchange for lease liabilities                                      —                           1,787          \n Capital expenditures in accounts payable                                                   531                         250            \n                                                                                                                                       \n\n\n\n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                                         \n                                                                                                                                                             \n Reconciliation of Non-GAAP Financial Measures                                                                                                               \n                                                                                                                                                             \n Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin (Unaudited):                                                            \n                                                                                                                                                             \n The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA and Adjusted EBITDA Margin for the periods indicated (dollars in thousands): \n                                                                                                                                                             \n                                                           Three Months Ended June 30,                       Fiscal Year Ended June 30,                      \n                                                                 2026                       2025                   2026                       2025           \n Net income                                                $     7,366                $     4,793            $     1,707                $     15,240         \n Provision for income taxes                                      2,360                      2,018                  740                        5,023          \n Interest expense                                                1,916                      377                    3,559                      1,883          \n Depreciation                                                    8,793                      8,395                  33,147                     31,794         \n Amortization                                                    4,302                      1,695                  10,805                     6,799          \n Litigation settlement (1)                                       —                          —                      —                          3,500          \n Acquisition related step-up inventory amortization (2)          2,391                      —                      3,128                      —              \n Acquisition and integration related expenses (3)                6,698                      —                      14,773                     —              \n Adjustment to earnout liability (4)                             (2,449   )                 —                      (2,449   )                 —              \n Professional fees (5)                                           1,355                      1,112                  3,952                      4,962          \n Stock-based compensation expense (6)                            1,387                      1,619                  5,603                      5,916          \n Adjustments to tax receivable agreement liability (7)           (173     )                 (352     )             (1,029   )                 (347     )     \n Adjusted EBITDA                                           $     33,946               $     19,657           $     73,936               $     74,770         \n Net Sales                                                 $     295,537              $     207,039          $     914,590              $     807,561        \n Net Income Margin (8)                                           2.5      %                 2.3      %             0.2      %                 1.9      %     \n Adjusted EBITDA Margin (8)                                      11.5     %                 9.5      %             8.1      %                 9.3      %     \n\n\n\n (1  )  Represents the amount paid pursuant to a settlement agreement with the Chapter 11 trustee (the \"Trustee\") for Tommy's Fort Worth LLC and its affiliate debtors.           \n                                                                                                                                                                                  \n (2  )  Acquisition related step-up inventory amortization represents the amortization of the fair value step-up in Saxdor's inventories resulting from the acquisition of Saxdor, \n        which is recorded within Cost of goods sold.                                                                                                                              \n                                                                                                                                                                                  \n (3  )  Represents legal and advisory fees as well as integration costs incurred in connection with our acquisition of Saxdor on March 2, 2026.                                   \n                                                                                                                                                                                  \n (4  )  Represents the change in the contingent consideration (earnout) liability recognized in connection with the acquisition of Saxdor on March 2, 2026.                       \n                                                                                                                                                                                  \n (5  )  For fiscal year 2026 and 2025, represents legal and advisory fees, netted with insurance payments, related to ongoing litigation with our insurance carriers related to   \n        the Batchelder matters and ongoing litigation with Tommy's Boats and Matthew Borisch.                                                                                     \n                                                                                                                                                                                  \n (6  )  Represents equity-based incentives awarded to employees under our long-term incentive plans.                                                                              \n                                                                                                                                                                                  \n (7  )  For fiscal year 2026, we recognized other income from an adjustment in our tax receivable agreement liability mainly due to decreased blended federal and state tax rate  \n        used in computing our future tax obligations used as a result of tax reform changes in H.R. 1, commonly referred to as the One Big Beautiful Bill Act (\"OB3\") and in turn, \n        a $1.0 million decrease in the future benefit we expect to pay under our tax receivable agreement with pre-IPO owners. For fiscal year 2025, we recognized other income   \n        from an adjustment in our tax receivable agreement liability mainly due to a decrease in the state tax rate used in computing our future tax obligations and in turn, a   \n        decrease in the future benefit we expect to pay under our tax receivable agreement with pre-IPO owners.                                                                   \n                                                                                                                                                                                  \n (8  )  We calculate net income margin as net income divided by net sales and we define adjusted EBITDA margin as adjusted EBITDA divided by net sales.                           \n                                                                                                                                                                                  \n\n\n\n Reconciliation of Non-GAAP Adjusted Net Income (Unaudited):                                                                                                                           \n                                                                                                                                                                                       \n The following table sets forth a reconciliation of net income per share as determined in accordance with GAAP to adjusted net income per share for the periods presented (in thousands except share and per share data): \n                                                                                                                                                                                       \n                                                                             Three Months Ended June 30,                           Fiscal Year Ended June 30,                          \n                                                                                    2026                             2025                 2026                             2025        \n Reconciliation of Adjusted Net Income per Share of Class A Common Stock:                                                                                                              \n Net income attributable to Malibu Boats, Inc.                               $      7,232                     $      4,674         $      1,653                     $      14,879      \n Provision for taxes                                                                2,360                            2,018                740                              5,023       \n Litigation settlement (1)                                                          —                                —                    —                                3,500       \n Acquisition related amortization (2)                                               4,262                            1,659                10,653                           6,653       \n Acquisition related step-up inventory amortization (3)                             2,391                            —                    3,128                            —           \n Acquisition and integration related expenses (4)                                   6,698                            —                    14,773                           —           \n Adjustment to earnout liability (5)                                                (2,449      )                    —                    (2,449      )                    —           \n Professional fees (6)                                                              1,355                            1,112                3,952                            4,962       \n Stock-based compensation expense (7)                                               1,387                            1,619                5,603                            5,916       \n Adjusted income before taxes                                                       23,236                           11,082               38,053                           40,933      \n Income tax expense on adjusted income before income taxes (8)                      5,275                            2,715                8,638                            10,029      \n Adjusted net income                                                         $      17,961                    $      8,367         $      29,415                    $      30,904      \n                                                                                                                                                                                       \n Basic weighted-average shares outstanding                                          19,723,237                       19,326,533           19,304,771                       19,664,337  \n\n\n\n                                                                  Three Months Ended June 30,                 Fiscal Year Ended June 30,                \n                                                                         2026                 2025                   2026                 2025          \n Net income attributable to Malibu Boats, Inc.                    $      0.37                 $      0.24     $      0.09                 $      0.76   \n Provision for taxes                                                     0.12                        0.10            0.04                        0.26   \n Litigation settlement (1)                                               —                           —               —                           0.18   \n Acquisition related amortization (2)                                    0.22                        0.08            0.55                        0.34   \n Acquisition related step-up inventory amortization (3)                  0.12                        —               0.16                        —      \n Acquisition and integration related expenses (4)                        0.34                        —               0.77                        —      \n Adjustment to earnout liability (5)                                     (0.12  )                    —               (0.13  )                    —      \n Professional fees (6)                                                   0.07                        0.06            0.20                        0.25   \n Stock-based compensation expense (7)                                    0.07                        0.08            0.29                        0.30   \n Adjusted income before taxes                                            1.19                        0.56            1.97                        2.09   \n Income tax expense on adjusted income before income taxes (8)           0.27                        0.14            0.45                        0.51   \n Adjusted net income                                              $      0.92                 $      0.42     $      1.52                 $      1.58   \n\n\n\n (1  )  Represents the amount paid pursuant to a settlement agreement with the Chapter 11 trustee (the \"Trustee\") for Tommy's Fort Worth LLC and its affiliate debtors.                                                                                                                                                                                                                                                                                                                                                           \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (2  )  Represents amortization of intangibles acquired in connection with the acquisitions of Maverick Boat Group, Pursuit, Cobalt, and Saxdor.                                                                                                                                                                                                                                                                                                                                                                                  \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (3  )  Acquisition related step-up inventory amortization represents the amortization of the fair value step-up in Saxdor's inventories resulting from the acquisition of Saxdor, which is recorded within Cost of goods sold.                                                                                                                                                                                                                                                                                                   \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (4  )  Represents legal and advisory fees as well as integration costs incurred in connection with our acquisition of Saxdor on March 2, 2026.                                                                                                                                                                                                                                                                                                                                                                                   \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (5  )  Represents the change in the contingent consideration (earnout) liability recognized in connection with the acquisition of Saxdor on March 2, 2026.                                                                                                                                                                                                                                                                                                                                                                       \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (6  )  For fiscal year 2026 and 2025, represents legal and advisory fees, netted with insurance payments, related to ongoing litigation with our insurance carriers related to the Batchelder matters and ongoing litigation with Tommy's Boats and Matthew Borisch.                                                                                                                                                                                                                                                             \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (7  )  Represents equity-based incentives awarded to employees under our long-term incentive plans.                                                                                                                                                                                                                                                                                                                                                                                                                              \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (8  )  Reflects income tax expense at an estimated normalized annual effective income tax rate of 22.7% and 24.5% of income before taxes for fiscal year 2026 and 2025, respectively. The estimated normalized annual effective income tax rate for fiscal years 2026 and 2025 is based on the federal statutory rate plus a blended state rate adjusted for the research and development tax credit, the foreign derived intangible income deduction, and foreign income taxes attributable to our international subsidiaries.  \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n\n\n\n Reconciliation of Non-GAAP Free Cash Flow (Unaudited):                                                                                                              \n                                                                                                                                                                     \n Non-GAAP Reconciliation                                                                                                                                             \n                                                                                                                                                                     \n The following table sets forth a reconciliation of net cash provided by operating activities to free cash flow for the periods presented (dollars in thousands):    \n                                                                                                                                                                     \n                                                                  Three Months Ended June 30,                       Fiscal Year Ended June 30,                       \n                                                                        2026                       2025                   2026                        2025           \n Net cash provided by operating activities                        $     26,950               $     21,039           $     67,509                $     56,506         \n Net cash (used for) provided by:                                                                                                                                    \n Plus: Capital expenditures                                             (10,055  )                 (6,954   )             (24,663   )                 (27,917  )     \n Plus: Proceeds from the sale of property, plant and equipment          99                         155                    352                         543            \n Free cash flow                                                   $     16,994               $     14,240           $     43,198                $     29,132         \n                                                                                                                                                                     \n Net cash used in investing activities                            $     (2,307   )           $     (6,799   )       $     (142,616  )           $     (27,374  )     \n Net cash (used in) provided by financing activities              $     (552     )           $     (15,965  )       $     111,681               $     (18,820  )     \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/3681369d-b9fe-40ce-b20c-188d13faef4a)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX6Cd6Wx","title":"Malibu Boats, Inc. Announces Fourth Quarter and Full Year Fiscal 2026 Results","author":"Globe Newswire","ticker":"MBUU","created":"2026-08-27T11:00:00.991Z","tickers":["MBUU"],"exchange":"NASDAQ","article_body":"LOUDON, Tenn., Aug. 27, 2026 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq:\nMBUU) today announced its financial results for the fourth quarter and fiscal\nyear ended June 30, 2026.\n\nFourth Quarter Fiscal 2026 Highlights Compared to Fourth Quarter Fiscal 2025\n* Net sales increased 42.7% to $295.5 million\n* Unit volume increased 19.2% to 1,456 units\n* Gross profit increased 59.4% to $52.2 million\n* General and administrative expenses increased to $31.8 million\n* GAAP net income increased 53.7% to $7.4 million\n* GAAP net income available to Class A Common Stock per share (diluted)\nincreased 54.2% to $0.37 per share\n* Adjusted EBITDA increased 72.7% to $33.9 million\n* Adjusted net income per share increased 119.0% to $0.92 per share on a\nweighted average share count of 19.7 million shares of Class A Common Stock\n* Cash flows provided by operating activities increased 28.1% to $27.0 million\n* Free cash flow increased 19.3% to $17.0 million\nFiscal Year 2026 Highlights Compared to Fiscal Year 2025\n* Net sales increased 13.3% to $914.6 million\n* Unit volume increased 0.9% to 4,944 units\n* Gross profit increased 1.7% to $146.5 million\n* General and administrative expenses increased to $105.1 million\n* GAAP net income decreased 88.8% to $1.7 million\n* GAAP net income available to Class A Common Stock per share (diluted)\ndecreased 88.2% to $0.09 per share\n* Adjusted EBITDA decreased 1.1% to $73.9 million\n* Adjusted net income per share decreased 3.8% to $1.52 on a weighted average\nshare count of 19.3 million shares of Class A Common Stock\n* Cash flows provided by operating activities increased 19.5% to $67.5 million\n* Free cash flow increased 48.3% to $43.2 million\nSteve Menneto, President and Chief Executive Officer of Malibu Boats, Inc.,\ncommented, \"Fiscal 2026 demonstrated the power of our strategic execution. We\ndelivered a strong finish to the year, driven by better than expected net\nsales, disciplined cost management, dealer network optimization, and the\nsuccessful integration of Saxdor in our first four months with the business.\nWe also invested meaningfully in innovation as our Model Year 2026 lineup\nadded eleven new models across the portfolio that brought new features as well\nas value to our product line. The Saxdor integration is progressing well, with\nthe completion of our first domestically-built Saxdor boats at our Fort\nPierce, Florida facility expected in the first half of fiscal 2027. While\nwe're seeing early signs of stabilization across the industry, we are\ncontending with macro disruptions that continue to pressure the payment buyer,\nwhich presents a near-term headwind to an inflection in the cycle. That said,\nwe like how we're positioned relative to the industry heading into fiscal 2027\nand expect to build on the momentum we established, while remaining\nintentional about our outlook until we see more durable evidence of a broader\nrecovery.\"\n\nDavid Black, Chief Financial Officer of Malibu Boats, Inc., added, \"We closed\nthe year with a strong balance sheet and began our new fiscal year with the\ncompletion of our credit agreement refinancing, which extends our maturity\nthrough 2031 and gives us added liquidity and flexibility. Our leverage\nremains well below our stated maximum target, even after financing the Saxdor\nacquisition. While we chose to pause our open market purchases during our\nlender negotiations, the Board authorized a new $70 million share repurchase\nprogram for fiscal 2027 in June, and we closed our refinancing in July,\nunderscoring our confidence in the business and our commitment to returning\ncapital to shareholders. With that flexibility now in place, we remain\nopportunistic on capital allocation and are well positioned to keep investing\nin the business as we move through fiscal 2027.\"   \n\nResults of Operations for the Fourth Quarter and Fiscal Year 2026 (Unaudited)\n\n                           Three Months Ended June 30,                           Fiscal Year Ended June 30,                      \n                                 2026                       2025                       2026                       2025           \n                                                                                                                                 \n                           (In thousands, except unit and per unit data)                                                         \n Net Sales                 $     295,537              $     207,039              $     914,590              $     807,561        \n Gross Profit              $     52,190               $     32,740               $     146,520              $     144,091        \n Gross Profit Margin             17.7     %                 15.8     %                 16.0     %                 17.8     %     \n Net Income                $     7,366                $     4,793                $     1,707                $     15,240         \n Net Income Margin               2.5      %                 2.3      %                 0.2      %                 1.9      %     \n Adjusted EBITDA           $     33,946               $     19,657               $     73,936               $     74,770         \n Adjusted EBITDA Margin          11.5     %                 9.5      %                 8.1      %                 9.3      %     \n                                                                                                                                 \n\nComparison of the Fourth Quarter Ended June 30, 2026 to the Fourth Quarter\nEnded June 30, 2025\n\nNet sales for the three months ended June 30, 2026 increased $88.5 million,\nor 42.7%, to $295.5 million, compared to the three months ended June 30,\n2025. The increase in net sales was driven primarily by $61.2 million of\nrevenue from the new Saxdor segment due to the recent acquisition, increased\nunit volumes in our Cobalt and Saltwater segments, a favorable model mix\nacross all three existing segments, and year-over-year price increases,\npartially offset by decreased unit volumes in our Malibu segment. Unit volume\nfor the three months ended June 30, 2026 increased 235 units, or 19.2%, to\n1,456 units compared to the three months ended June 30, 2025. Our unit volume\nincreased primarily due to an additional 180 units contributed by Saxdor as\nwell as increased unit volume in our Cobalt and Saltwater segments, partially\noffset by decreased unit volumes in our Malibu segment.\n\nNet sales attributable to our Malibu segment increased $2.6 million, or 3.2%,\nto $82.9 million for the three months ended June 30, 2026 compared to the\nthree months ended June 30, 2025. Unit volumes attributable to our Malibu\nsegment decreased 14 units, or 2.5%, for the three months ended June 30,\n2026 compared to the three months ended June 30, 2025, primarily due to lower\nwholesale shipments driven by lower retail activity. The increase in net sales\nwas driven by a favorable model mix and year-over-year price increases,\npartially offset by a decrease in units.\n\nNet sales attributable to our Saltwater Fishing segment increased $8.1\nmillion, or 11.1%, to $80.9 million, for the three months ended June 30,\n2026, compared to the three months ended June 30, 2025. Unit volumes\nincreased 7 units, or 2.2% for the three months ended June 30, 2026 compared\nto the three months ended June 30, 2025, primarily due to higher wholesale\nshipments as a result of firming dealer inventory levels in pockets of the\nportfolio. The increase in net sales was driven by an increase in units, a\nfavorable model mix and year-over-year price increases.\n\nNet sales attributable to our Cobalt segment increased $16.7 million, or\n31.0%, to $70.5 million for the three months ended June 30, 2026 compared to\nthe three months ended June 30, 2025. Unit volumes attributable to Cobalt\nincreased 62 units, or 18.9% for the three months ended June 30, 2026\ncompared to the three months ended June 30, 2025, primarily due to higher\nwholesale shipments as a result of firming dealer inventory levels in pockets\nof the portfolio. The increase in net sales was driven by an increase in\nunits, a favorable model mix and year-over-year price increases.\n\nNet sales attributable to our Saxdor segment were $61.2 million for the three\nmonths ended June 30, 2026. Unit volumes were 180 units for the three months\nended June 30, 2026.\n\nOverall consolidated net sales per unit increased 19.7% to $202,979 per unit\nfor the three months ended June 30, 2026 compared to the three months ended\nJune 30, 2025. Net sales per unit for our Malibu segment increased 5.8% to\n$149,110 per unit for the three months ended June 30, 2026 compared to the\nthree months ended June 30, 2025, driven by a favorable model mix and\nyear-over-year price increases. Net sales per unit for our Saltwater Fishing\nsegment increased 8.7% to $245,267 for the three months ended June 30, 2026\ncompared to the three months ended June 30, 2025, driven by a favorable model\nmix and year-over-year price increases. Net sales per unit for our Cobalt\nsegment increased 10.2% to $180,841 per unit for the three months ended\nJune 30, 2026 compared to the three months ended June 30, 2025, driven by\nfavorable model mix and year-over-year price increases. For the three months\nended June 30, 2026, net sales per unit for our Saxdor segment were $339,811.\n\nCost of sales for the three months ended June 30, 2026 increased $69.0\nmillion, or 39.6%, to $243.3 million as compared to the three months ended\nJune 30, 2025. The increase in cost of sales was primarily driven by cost of\nsales from the new Saxdor segment due to the recent acquisition, a 19.2%\nincrease in units, a more expensive model mix across all three existing\nsegments and inflationary pressures. In the Malibu, Saltwater Fishing and\nCobalt segments, per unit material and labor costs were a net increase of\n$0.1 million, $6.4 million, and $3.3 million, respectively, driven by\ninflationary pressures and an increased mix of models that corresponded with\nhigher net sales per unit.\n\nGross profit for the three months ended June 30, 2026 increased $19.5\nmillion, or 59.4%, to $52.2 million compared to the three months ended\nJune 30, 2025. The increase in gross profit was driven primarily by higher\nnet sales, partially offset by increased cost of sales for the reasons noted\nabove. Gross margin for the three months ended June 30, 2026 increased 190\nbasis points from 15.8% to 17.7%, driven by an increased mix of models that\ncarry a higher gross margin.\n\nSelling and marketing expenses for the three months ended June 30, 2026\nincreased $1.4 million, or 25.7%, to $6.8 million compared to the three months\nended June 30, 2025. The increase was driven primarily by higher\npersonnel-related expenses and an incremental increase due to the new Saxdor\nsegment. As a percentage of sales, selling and marketing expenses decreased 30\nbasis points to 2.3% for the three months ended June 30, 2026 as compared to\nthe three months ended June 30, 2025. General and administrative expenses for\nthe three months ended June 30, 2026 increased $12.9 million, or 68.8%, to\n$31.8 million as compared to the three months ended June 30, 2025. The\nincrease in general and administrative expenses was driven primarily by\nacquisition related expenses incurred due to the Saxdor acquisition, an\nincremental increase due to the new Saxdor segment and increases in incentive\npay. As a percentage of sales, general and administrative expenses increased\n170 basis points to 10.8% for the three months ended June 30, 2026 compared\nto the three months ended June 30, 2025. Amortization expense for the three\nmonths ended June 30, 2026 increased $2.6 million to $4.3 million for the\nthree months ended June 30, 2026 as compared to the three months ended\nJune 30, 2025. The increase was due to the additional intangibles acquired\nfrom the Saxdor acquisition.\n\nOperating income for the three months ended June 30, 2026 increased to $9.3\nmillion from $6.8 million for the three months ended June 30, 2025. Net\nincome for the three months ended June 30, 2026 increased 53.7% to a net\nincome of $7.4 million from $4.8 million and net income margin increased to\n2.5% from 2.3% for the three months ended June 30, 2025. Adjusted EBITDA for\nthe three months ended June 30, 2026 increased 72.7% to $33.9 million from\n$19.7 million, while Adjusted EBITDA margin increased to 11.5% from 9.5% for\nthe three months ended June 30, 2025.\n\nComparison of the Fiscal Year Ended June 30, 2026 to the Fiscal Year Ended\nJune 30, 2025\n\nNet sales for fiscal year 2026 increased $107.0 million, or 13.3%, to $914.6\nmillion, compared to fiscal year 2025. The increase in net sales was driven\nprimarily by $84.3 million of revenue from the new Saxdor segment due to the\nrecent acquisition, a favorable model mix across all three existing segments\nand year-over-year price increases, partially offset by decreased unit volumes\nacross all three existing segments resulting primarily from lower wholesale\nshipments. Unit volume for fiscal year 2026 increased 46 units, or 0.9%, to\n4,944 units compared to fiscal year 2025. Our unit volume increased primarily\ndue to an additional 246 units contributed by Saxdor, partially offset by\nlower wholesale shipments across all three existing segments driven by lower\nretail activity.\n\nNet sales attributable to our Malibu segment increased $0.2 million,\nor 0.1%, to $312.9 million for fiscal year 2026 compared to fiscal year\n2025. Unit volumes attributable to our Malibu segment decreased 73 units for\nfiscal year 2026 compared to fiscal year 2025, primarily due to lower\nwholesale shipments driven by lower retail activity during the period. The\nincrease in net sales was primarily driven by a favorable model mix and\nyear-over-year price increases, partially offset by a decrease in units.\n\nNet sales attributable to our Saltwater Fishing segment increased $4.4\nmillion, or 1.6%, to $284.0 million for fiscal year 2026 compared to fiscal\nyear 2025. Unit volumes decreased 53 units for fiscal year 2026 compared to\nfiscal year 2025, primarily due to lower wholesale shipments driven by lower\nretail activity during the period. The increase in net sales was driven by a\nfavorable model mix and year-over-year price increases, partially offset by a\ndecrease in units.\n\nNet sales attributable to our Cobalt segment increased $18.1 million, or 8.4%,\nto $233.4 million for fiscal year 2026 compared to fiscal year 2025. Unit\nvolumes attributable to Cobalt decreased 74 units for fiscal year 2026\ncompared to fiscal year 2025, primarily due to lower wholesale shipments\ndriven by lower retail activity and our dealers' desire to hold less\ninventory. The increase in net sales was driven primarily by a favorable model\nmix and year-over-year price increases, partially offset by a decrease in\nunits.\n\nSince our acquisition on March 2, 2026, net sales and unit volume attributable\nto our Saxdor segment were $84.3 million and 246 units, respectively for the\nyear ended June 30, 2026.\n\nOverall consolidated net sales per unit increased 12.2% to $184,990 per\nunit for fiscal year 2026 compared to fiscal year 2025. Net sales per unit for\nour Malibu segment increased 3.5% to $145,538 per unit for fiscal year 2026\ncompared to fiscal year 2025, driven by a favorable model mix and\nyear-over-year price increases, partially offset by increased dealer incentive\ncosts per unit. Net sales per unit for our Saltwater Fishing segment increased\n6.0% to $234,135 per unit for fiscal year 2026 compared to fiscal year 2025,\ndriven by a favorable model mix and year-over-year price increases, partially\noffset by increased dealer incentive costs per unit. Net sales per unit for\nour Cobalt segment increased 14.4% to $174,812 per unit for fiscal year 2026\ncompared to fiscal year 2025, driven by favorable model mix and year-over-year\nprice increases. Since our acquisition on March 2, 2026, net sales per unit\nfor our Saxdor segment was $342,695.\n\nCost of sales for fiscal year 2026 increased $104.6 million, or 15.8%, to\n$768.1 million compared to fiscal year 2025. The increase in cost of sales was\nprimarily driven by cost of sales from the new Saxdor segment due to the\nrecent acquisition and higher per unit material and labor costs for the\nMalibu, Saltwater Fishing, and Cobalt segments. In the Malibu segment, per\nunit material and labor costs increased by $10.9 million driven by a more\nexpensive model mix that corresponded with higher net sales per unit and\ninflationary pressures. In the Saltwater Fishing segment, per unit material\nand labor costs increased $16.9 million driven by a more expensive model mix\nthat corresponded with higher net sales per unit and inflationary pressures.\nIn the Cobalt segment, per unit material and labor costs increased\n$21.9 million driven by a more expensive model mix that corresponded with\nhigher net sales per unit and inflationary pressures.\n\nGross profit for fiscal year 2026 increased $2.4 million, or 1.7%, compared to\nfiscal year 2025. The increase in gross profit was driven primarily by higher\nnet sales, partially offset by increased cost of sales for the reasons noted\nabove. Gross margin for fiscal year 2026 decreased 180 basis points from 17.8%\nto 16.0% driven primarily by higher per unit material and labor costs.\n\nGeneral and administrative expense for fiscal year 2026 increased $12.7\nmillion, or 13.7%, to $105.1 million compared to fiscal year 2025. The\nincrease in general and administrative expenses was primarily driven by\nacquisition related expenses incurred due to the Saxdor acquisition, an\nincremental increase due to the new Saxdor segment and increases in incentive\npay and salaries, partially offset by a $3.5 million legal settlement in\nfiscal year 2025 along with decreased legal fees. As a percentage of sales,\ngeneral and administrative expenses increased 10 basis points to 11.5% for\nfiscal year 2026 compared to 11.4% for fiscal year 2025. Selling and marketing\nexpense for fiscal year 2026 increased $4.4 million, or 19.1% to $27.5 million\ncompared to fiscal year 2025. The increase was driven primarily by higher\npersonnel-related expenses and marketing events and an incremental increase\ndue to the new Saxdor segment. As a percentage of sales, selling and marketing\nexpense increased 10 basis points to 3.0% for fiscal year 2026 compared to\n2.9% for fiscal year 2025. Amortization expense for fiscal year 2026 increased\n$4.0 million to $10.8 million due to the additional intangibles acquired from\nthe Saxdor acquisition.\n\nOperating income for fiscal year 2026 decreased to $3.1 million from $21.8\nmillion for fiscal year 2025. Net income for fiscal year 2026 decreased 88.8%\nto $1.7 million from $15.2 million and net income margin decreased to 0.2% for\nfiscal year 2026 from 1.9% for fiscal year 2025. Adjusted EBITDA for fiscal\nyear 2026 decreased 1.1% to $73.9 million from $74.8 million, while Adjusted\nEBITDA margin decreased to 8.1% for fiscal year 2026 from 9.3% for fiscal year\n2025.\n\nBalance Sheet, Cash Flow and Capital Allocation\n\nAs of June 30, 2026, the Company had $74.4 million of cash and $165.0 million\nof long-term debt, providing ample flexibility to support continued investment\nand the return of capital to shareholders.\n\nAs previously announced, on July 10, 2026, the Company successfully completed\na refinancing of its credit facility extending the maturity date to July 2031\nand enhancing its financial flexibility. The new structure includes a $100.0\nmillion term loan facility alongside a $250.0 million revolving credit\nfacility, replacing the prior $350.0 million revolving facility. The\nrefinancing strengthens the Company's liquidity position and provides\ncontinued flexibility through an extended maturity to support continued\ninvestment in the business, Saxdor integration, and disciplined growth\nopportunities.\n\nWhile the Company paused its share repurchase activities during the\nrefinancing negotiations, the Board of Directors authorized a new $70 million\nshare repurchase program for Fiscal 2027 in June 2026, reflecting strong\nconfidence in the business and the Company's commitment to returning capital\nto shareholders while maintaining balance sheet strength.\n\nFor the full fiscal year ended June 30, 2026, the Company generated $67.5\nmillion of cash from operations and invested $24.7 million in capital\nexpenditures. Free cash flow was approximately $43.2 million, including\nnominal impacts from proceeds received on the sale of property, plant and\nequipment.\n\nFiscal 2027 Guidance\n\nFor the full fiscal year 2027, Malibu anticipates net sales in the range of\n$1.08 billion to $1.12 billion year-over-year, and Adjusted EBITDA ranging\nfrom $101 million to $109 million.\n\nThe Company has not provided reconciliations of guidance for Adjusted EBITDA,\nin reliance on the unreasonable efforts exception provided under Item\n10(e)(1)(i)(B) of Regulation S-K. The Company is unable, without unreasonable\nefforts, to forecast certain items required to develop meaningful comparable\nGAAP financial measures. These items include costs related to the Company’s\nvertical integration initiatives, acquisition integration initiatives,\nstock-based compensation expense and litigation expenses that are difficult to\npredict in advance in order to include in a GAAP estimate.\n\nWebcast and Conference Call Information\n\nThe Company will host a webcast and conference call to discuss fourth quarter\nand fiscal year 2026 results on Thursday, August 27, 2026, at 8:30 a.m.\nEastern Time. Investors and analysts can participate on the conference call by\ndialing (844) 695-5523 or (412) 317-0699 and requesting Malibu Boats.\nAlternatively, interested parties can listen to a live webcast of the\nconference call by logging on to the Investor Relations section on the\nCompany’s website at http://investors.malibuboats.com. A replay of the\nwebcast will also be archived on the Company’s website for twelve months.\n\nAbout Malibu Boats, Inc.\n\nBased in Loudon, Tennessee, Malibu Boats, Inc. (MBUU) is a leading designer,\nmanufacturer and marketer of a diverse range of recreational powerboats,\nincluding performance sport boats, sterndrive boats, outboard boats, and\npremium adventure dayboats. Malibu Boats, Inc. is among the market leaders in\nthe performance sport boat category through its Malibu and Axis boat brands,\namong the market leaders in the 20’ - 40’ segment of the sterndrive boat\ncategory through its Cobalt brand, and among the market leaders in the\nfiberglass outboard fishing boat market with its Pursuit and Maverick Boat\nGroup brands, and among the market leaders in the premium adventure dayboat\nemerging market with its Saxdor brand. A pre-eminent innovator in the\npowerboat industry, Malibu Boats, Inc. designs products that appeal to an\nexpanding range of recreational boaters, fishermen and water sports\nenthusiasts whose passion for boating is a key component of their active\nlifestyles. For more information, visit www.malibuboats.com, www.axiswake.com,\nwww.cobaltboats.com, www.pursuitboats.com, www.maverickboatgroup.com, or\nwww.saxdoryachts.com. \n\nNon-GAAP Financial Measures\n\nThis release includes the following financial measures defined as non-GAAP\nfinancial measures by the Securities and Exchange Commission: Adjusted EBITDA,\nAdjusted EBITDA margin, adjusted net income, adjusted net income per share,\nand Free Cash Flow. These measures have limitations as analytical tools and\nshould not be considered as an alternative to, or more meaningful than, net\nincome as determined in accordance with U.S. generally accepted accounting\nprinciples (“GAAP”) or as an indicator of our liquidity. Our presentation\nof these non-GAAP financial measures should also not be construed as an\ninference that our results will be unaffected by unusual or non-recurring\nitems. Our computations of these non-GAAP financial measures may not be\ncomparable to other similarly titled measures of other companies.\n\nWe define Adjusted EBITDA as net income before interest expense, income taxes,\ndepreciation, amortization, and non-cash, non-operating expenses, or other\nexpenses that we do not believe are indicative of our ongoing expenses,\nincluding litigation settlements, acquisition and integration related\nexpenses, adjustment to earnout liability, certain professional fees, non-cash\ncompensation expense and adjustments to our tax receivable agreement\nliability. We define Adjusted EBITDA margin as Adjusted EBITDA divided by net\nsales. Adjusted EBITDA and Adjusted EBITDA margin are not measures of net\nincome as determined by GAAP. Management believes Adjusted EBITDA and Adjusted\nEBITDA margin allow investors to evaluate our operating performance and\ncompare our results of operations from period to period on a consistent basis\nby excluding items that management does not believe are indicative of our core\noperating performance. Management uses Adjusted EBITDA to assist in\nhighlighting trends in our operating results without regard to our financing\nmethods, capital structure and non-recurring or non-operating expenses. We\nexclude the items listed above from net income in arriving at Adjusted EBITDA\nbecause these amounts can vary substantially from company to company within\nour industry depending upon accounting methods and book values of assets,\ncapital structures, the methods by which assets were acquired and other\nfactors. Adjusted EBITDA has limitations as an analytical tool and should not\nbe considered as an alternative to, or more meaningful than, net income as\ndetermined in accordance with GAAP or as an indicator of our liquidity.\n\nCertain items excluded from Adjusted EBITDA are significant components in\nunderstanding and assessing a company’s financial performance, such as a\ncompany’s cost of capital and tax structure, as well as the historical costs\nof depreciable assets.\n\nAdjusted net income per share is a non-GAAP financial measure that is used and\ndisclosed by management in order to give management and its investors and\nanalysts a more accurate picture of our underlying earnings performance.\nAdjusted net income per share, excludes items that management does not believe\nare indicative of our core operating performance.\n\nWe define adjusted net income per share as net income attributable to Malibu\nBoats, Inc. per share, excluding income tax expense, and non-cash,\nnon-operating expenses, or other expenses that we do not believe are\nindicative of our ongoing expenses, litigation settlements, acquisition\nrelated amortization, acquisition and integration related expenses, adjustment\nto earnout liability, certain professional fees and non-cash compensation\nexpense, and reflecting an adjustment for income tax expense on adjusted\nincome before income taxes at our estimated effective income tax rate.\n\nWe exclude the items listed above from net income per share in arriving at\nadjusted net income per share because these amounts can vary substantially\nfrom company to company within our industry depending upon accounting methods\nand book values of assets, the methods by which assets were acquired and other\nfactors. Adjusted net income per share has limitations as an analytical tool\nand should not be considered as an alternative to, or more meaningful than,\nnet income per share as determined in accordance with GAAP or as an indicator\nof our liquidity. Certain items excluded are significant components in\nunderstanding and assessing a company’s financial performance. Our\npresentation of adjusted net income per share should not be construed as an\ninference that our results will be unaffected by unusual or non-recurring\nitems. Our computation of this measure may not be comparable to other\nsimilarly titled measures of other companies.\n\nA reconciliation of our net income as determined in accordance with GAAP to\nAdjusted EBITDA and a reconciliation of net income per share attributable to\nMalibu Boats, Inc. as determined in accordance with GAAP to adjusted net\nincome per share is provided under \"Reconciliation of Non-GAAP Financial\nMeasures\".\n\nWe define Free Cash Flow as net cash provided by operating activities, plus\ncash used for capital expenditures and plus proceeds from the sale of property\nplant and equipment.\n\nFree Cash Flow has limitations as an analytical tool and should not be\nconsidered as an alternative to, or more meaningful than, net cash provided by\noperating activities as determined in accordance with GAAP or as an indicator\nof our liquidity. Our computation of this measure may not be comparable to\nother similarly titled measures of other companies.\n\nA reconciliation of our net cash provided by operating activities as\ndetermined in accordance with GAAP to Free Cash Flow is provided under\n\"Reconciliation of Non-GAAP Financial Measures\".\n\nCautionary Statement Concerning Forward Looking Statements\n\nThis press release includes forward-looking statements (as such term is\ndefined in the Private Securities Litigation Reform Act of 1995).\nForward-looking statements can be identified by such words and phrases as\n“believes,” “anticipates,” “expects,” “intends,”\n“estimates,” “may,” “will,” “should,” “continue” and\nsimilar expressions, comparable terminology or the negative thereof, and\nincludes statements in this press release regarding our expectation that the\nfirst domestically-built Saxdor boats will be completed in our Fort Pierce,\nFlorida facility in the first half of fiscal 2027; our expectation that macro\ndisruptions will present a near-term headwind to an industry inflection; our\nexpectation of building on our fiscal 2026 momentum in fiscal 2027; our plans\nfor capital allocation, the Saxdor integration and continued investment in the\nbusiness in fiscal 2027; and our guidance for fiscal year 2027 net sales and\nAdjusted EBITDA.\n\nForward-looking statements are subject to risks and uncertainties that could\ncause actual results to differ materially from those expressed or implied in\nthe forward-looking statements, including, but not limited to: our large\nfixed-cost base; our ability to execute our manufacturing strategy or\naccurately forecast demand for our products; our third-party suppliers’\nincreased costs or inability to adjust for our required production levels; our\ndependence on a small group of suppliers for components; our ability to meet\nour manufacturing workforce needs; our dependence on key management employees;\nour ability to grow our business through acquisitions and integrate such\nacquisitions to fully realize their expected benefits, including our recent\nacquisition of Saxdor; our growth strategy which may require us to secure\nsignificant additional capital; our ability to enhance existing products and\ndevelop and market new or enhanced products; compromises to information\ntechnology systems or those of third parties with whom we work or our data;\ndifficulties presented by international economic, political, legal, and\nbusiness factors; general economic conditions; risks and requirements related\nto transacting business in foreign countries; the continued strength and\npositive perception of our brands; increased consumer preference for used\nboats, electric boats, alternative fuel-powered boats or the supply of new\nboats by competitors in excess of demand; an increase in energy and fuel\ncosts; the seasonality of our business; competition within our industry;\ninflation and heightened interest rates; our dependence on our network of\nindependent dealers and increasing competition for dealers; the financial\nhealth of our dealers and their continued access to financing; our obligation\nto repurchase inventory of certain dealers; our exposure to risks associated\nwith litigation, investigation and regulatory proceedings; an impairment in\nthe carrying value of goodwill, trade names and other long-lived assets;\nsignificant product repair and/or replacement costs due to product warranty\nclaims or product recalls; risks inherent in changes to U.S. trade policy,\ntariffs and import/export regulations; any failure to comply with laws and\nregulations including environmental, workplace safety and other regulatory\nrequirements; our dependence upon distributions from the LLC for any cash\nobligations of Malibu Boats, Inc.; covenants in our credit agreement governing\nour revolving credit facility which may limit our operating flexibility;\ninterest rate risk from our variable rate indebtedness; our obligation to make\ncertain payments under a tax receivable agreement; and other factors affecting\nus detailed from time to time in our filings with the Securities and Exchange\nCommission. Many of these risks and uncertainties are outside our control, and\nthere may be other risks and uncertainties which we do not currently\nanticipate because they relate to events and depend on circumstances that may\nor may not occur in the future. Although we believe that the expectations\nreflected in any forward-looking statements are based on reasonable\nassumptions at the time made, we can give no assurance that our expectations\nwill be achieved. Undue reliance should not be placed on these forward-looking\nstatements, which speak only as of the date hereof. We undertake no obligation\n(and we expressly disclaim any obligation) to update or supplement any\nforward-looking statements that may become untrue because of subsequent\nevents, whether because of new information, future events, changes in\nassumptions or otherwise. Comparison of results for current and prior periods\nare not intended to express any future trends or indications of future\nperformance, unless expressed as such, and should only be viewed as historical\ndata.\n\nInvestor\nContacts                                        \n\nMalibu Boats, Inc.\nDavid Black\nChief Financial Officer\n(865) 458-5478\nInvestorRelations@MalibuBoats.com\n\n                                                                                                                                                                                              \n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                                                                          \n                                                                                                                                                                                              \n Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)                                                                                                         \n (In thousands, except share and per share data)                                                                                                                                              \n                                                                                                                                                                                              \n                                                                                Three Months Ended June 30,                             Fiscal Year Ended June 30,                            \n                                                                                      2026                          2025                      2026                          2025              \n Net sales                                                                      $     295,537                 $     207,039             $     914,590                 $     807,561           \n Cost of sales                                                                        243,347                       174,299                   768,070                       663,470           \n Gross profit                                                                         52,190                        32,740                    146,520                       144,091           \n Operating expenses:                                                                                                                                                                          \n Selling and marketing                                                                6,773                         5,390                     27,480                        23,071            \n General and administrative                                                           31,772                        18,826                    105,136                       92,460            \n Amortization                                                                         4,302                         1,695                     10,805                        6,799             \n Operating income                                                                     9,343                         6,829                     3,099                         21,761            \n Other expense, net:                                                                                                                                                                          \n Other income, net                                                                    (2,299      )                 (359        )             (2,907      )                 (385        )     \n Interest expense                                                                     1,916                         377                       3,559                         1,883             \n Other expense, net                                                                   (383        )                 18                        652                           1,498             \n Income before provision for income taxes                                             9,726                         6,811                     2,447                         20,263            \n Provision for income taxes                                                           2,360                         2,018                     740                           5,023             \n Net income                                                                           7,366                         4,793                     1,707                         15,240            \n Net income attributable to non-controlling interest                                  134                           119                       54                            361               \n Net income attributable to Malibu Boats, Inc.                                  $     7,232                   $     4,674               $     1,653                   $     14,879            \n                                                                                                                                                                                              \n Comprehensive income:                                                                                                                                                                        \n Net income                                                                     $     7,366                   $     4,793               $     1,707                   $     15,240            \n Other comprehensive income:                                                                                                                                                                  \n Change in cumulative translation adjustment                                          (1,529      )                 1,156                     (5,985      )                 (448        )     \n Other comprehensive (loss) income                                                    (1,529      )                 1,156                     (5,985      )                 (448        )     \n Comprehensive income                                                                 5,837                         5,949                     (4,278      )                 14,792            \n Less: comprehensive income attributable to non-controlling interest                  106                           148                       54                            346               \n Comprehensive income attributable to Malibu Boats, Inc., net of tax            $     5,731                   $     5,801               $     (4,332      )           $     14,446            \n                                                                                                                                                                                              \n Weighted average shares outstanding used in computing net income per share:                                                                                                                  \n Basic                                                                                19,723,237                    19,326,533                19,304,771                    19,664,337        \n Diluted                                                                              19,759,525                    19,351,452                19,344,924                    19,694,677        \n Net income available to Class A Common Stock per share:                                                                                                                                      \n Basic                                                                          $     0.37                    $     0.24                $     0.09                    $     0.76              \n Diluted                                                                        $     0.37                    $     0.24                $     0.09                    $     0.76              \n                                                                                                                                                                                              \n\n\n\n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                                                                                                                                           \n                                                                                                                                                                                                                                                               \n Condensed Consolidated Balance Sheets (Unaudited)                                                                                                                                                                                                             \n (In thousands, except share and per share data)                                                                                                                                                                                                               \n                                                                                                                                                                                                                                                               \n                                                                                                                                                                                                               June 30, 2026            June 30, 2025          \n Assets                                                                                                                                                                                                                                                        \n Current assets                                                                                                                                                                                                                                                \n Cash                                                                                                                                                                                                          $      74,419            $      37,002          \n Trade receivables, net                                                                                                                                                                                               33,353                   23,034          \n Inventories, net                                                                                                                                                                                                     180,066                  142,163         \n Prepaid expenses and other current assets                                                                                                                                                                            17,634                   14,634          \n Assets held for sale                                                                                                                                                                                                 3,059                    3,059           \n Total current assets                                                                                                                                                                                                 308,531                  219,892         \n Property, plant and equipment, net                                                                                                                                                                                   249,663                  235,877         \n Goodwill                                                                                                                                                                                                             78,689                   51,306          \n Other intangible assets, net                                                                                                                                                                                         295,965                  168,634         \n Deferred tax asset                                                                                                                                                                                                   50,419                   51,601          \n Other assets                                                                                                                                                                                                         12,927                   7,268           \n Total assets                                                                                                                                                                                                  $      996,194           $      734,578         \n Liabilities                                                                                                                                                                                                                                                   \n Current liabilities                                                                                                                                                                                                                                           \n Accounts payable                                                                                                                                                                                                     46,790                   24,420          \n Accrued expenses                                                                                                                                                                                                     168,137                  109,770         \n Income taxes and distribution payable                                                                                                                                                                                392                      151             \n Payable pursuant to tax receivable agreement, current portion                                                                                                                                                        113                      271             \n Total current liabilities                                                                                                                                                                                            215,432                  134,612         \n Deferred tax liabilities                                                                                                                                                                                             15,424                   14,674          \n Other liabilities                                                                                                                                                                                                    33,353                   7,297           \n Payable pursuant to tax receivable agreement, less current portion                                                                                                                                                   38,559                   40,162          \n Long-term debt                                                                                                                                                                                                       165,000                  18,000          \n Total liabilities                                                                                                                                                                                                    467,768                  214,745         \n Stockholders' Equity                                                                                                                                                                                                                                          \n Class A Common Stock, par value $0.01 per share, 100,000,000 shares authorized; 19,667,592 shares issued and outstanding as of June 30, 2026; 19,225,848 shares issued and outstanding as of June 30, 2025           195                      190             \n Class B Common Stock, par value $0.01 per share, 25,000,000 shares authorized; 12 shares issued and outstanding as of June 30, 2026; 12 shares issued and outstanding as of June 30, 2025                            —                        —               \n Preferred Stock, par value $0.01 per share; 25,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026; no shares issued and outstanding as of June 30, 2025                                 —                        —               \n Additional paid in capital                                                                                                                                                                                           48,567                   35,253          \n Accumulated other comprehensive loss, net of tax                                                                                                                                                                     (10,631  )               (4,646   )      \n Accumulated earnings                                                                                                                                                                                                 486,317                  484,664         \n Total stockholders' equity attributable to Malibu Boats, Inc.                                                                                                                                                        524,448                  515,461         \n Non-controlling interest                                                                                                                                                                                             3,978                    4,372           \n Total stockholders’ equity                                                                                                                                                                                           528,426                  519,833         \n Total liabilities and stockholders' equity                                                                                                                                                                    $      996,194           $      734,578         \n                                                                                                                                                                                                                                                               \n\n\n\n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                   \n Consolidated Statements of Cash Flows                                                                                                 \n (In thousands)                                                                                                                        \n                                                                                                                                       \n                                                                                      Fiscal Year Ended June 30,                       \n                                                                                            2026                        2025           \n Operating activities:                                                                                                                 \n Net income                                                                           $     1,707                 $     15,240         \n Adjustments to reconcile net income to net cash provided by operating activities:                                                     \n Non-cash compensation expense                                                              5,603                       5,916          \n Non-cash compensation to directors                                                         1,041                       1,091          \n Depreciation                                                                               33,147                      31,794         \n Amortization                                                                               10,805                      6,799          \n Change in fair value of contingent consideration                                           (1,597    )                 —              \n Unrealized gain on foreign currency exchange                                               (1,053    )                 —              \n Deferred income taxes                                                                      2,004                       3,870          \n Adjustment to tax receivable agreement liability                                           (1,029    )                 (347     )     \n Other items, net                                                                           2,547                       2,394          \n Change in operating assets and liabilities, net of effect from acquisition:                                                           \n Trade receivables                                                                          (8,223    )                 106            \n Inventories                                                                                20,678                      3,373          \n Prepaid expenses and other assets                                                          4,011                       (493     )     \n Accounts payable                                                                           (4,543    )                 6,560          \n Income taxes receivable and payable                                                        (21       )                 269            \n Accrued expenses                                                                           6,749                       (17,758  )     \n Other liabilities                                                                          (3,559    )                 (2,308   )     \n Payment pursuant to tax receivable agreement                                               (758      )                 —              \n Net cash provided by operating activities                                                  67,509                      56,506         \n Investing activities:                                                                                                                 \n Purchases of property and equipment                                                        (24,663   )                 (27,917  )     \n Proceeds from sale of property and equipment                                               352                         543            \n Payment for acquisition, net of cash acquired                                              (118,305  )                 —              \n Net cash used in investing activities                                                      (142,616  )                 (27,374  )     \n Financing activities:                                                                                                                 \n Proceeds from revolving credit facility                                                    165,000                     48,000         \n Payments on revolving credit facility                                                      (18,000   )                 (30,000  )     \n Proceeds received from exercise of stock options                                           —                           233            \n Cash paid for tax withholdings                                                             (1,205    )                 (1,098   )     \n Distributions to non-controlling LLC Unit holders                                          (204      )                 —              \n Repurchase and retirement of Class A Common Stock                                          (33,910   )                 (35,955  )     \n Net cash provided by (used in) financing activities                                        111,681                     (18,820  )     \n Effect of exchange rate changes on cash                                                    843                         (255     )     \n Changes in cash                                                                            37,417                      10,057         \n Cash—Beginning of period                                                                   37,002                      26,945         \n Cash—End of period                                                                   $     74,419                $     37,002         \n Supplemental cash flow information:                                                                                                   \n Cash paid for interest                                                               $     3,015                 $     1,945          \n Cash paid (refund) for income taxes, net                                                   905                         (655     )     \n Non-cash operating, investing and financing activities:                                                                               \n Establishment of deferred tax assets from step-up in tax basis                             52                          367            \n Establishment of amounts payable under tax receivable agreements                           26                          167            \n Exchange of LLC Units for Class A Common Stock                                             95                          691            \n Tax distributions payable to non-controlling LLC Unit holders                              60                          —              \n Class A shares issued for acquisition                                                      41,706                      —              \n Contingent consideration issued for acquisition                                            32,599                      —              \n Escrow receivable through earnout holdback                                                 1,709                       —              \n Reclassification of properties to assets held for sale                                     —                           3,059          \n ROU assets obtained in exchange for lease liabilities                                      —                           1,787          \n Capital expenditures in accounts payable                                                   531                         250            \n                                                                                                                                       \n\n\n\n MALIBU BOATS, INC. AND SUBSIDIARIES                                                                                                                         \n                                                                                                                                                             \n Reconciliation of Non-GAAP Financial Measures                                                                                                               \n                                                                                                                                                             \n Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin (Unaudited):                                                            \n                                                                                                                                                             \n The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA and Adjusted EBITDA Margin for the periods indicated (dollars in thousands): \n                                                                                                                                                             \n                                                           Three Months Ended June 30,                       Fiscal Year Ended June 30,                      \n                                                                 2026                       2025                   2026                       2025           \n Net income                                                $     7,366                $     4,793            $     1,707                $     15,240         \n Provision for income taxes                                      2,360                      2,018                  740                        5,023          \n Interest expense                                                1,916                      377                    3,559                      1,883          \n Depreciation                                                    8,793                      8,395                  33,147                     31,794         \n Amortization                                                    4,302                      1,695                  10,805                     6,799          \n Litigation settlement (1)                                       —                          —                      —                          3,500          \n Acquisition related step-up inventory amortization (2)          2,391                      —                      3,128                      —              \n Acquisition and integration related expenses (3)                6,698                      —                      14,773                     —              \n Adjustment to earnout liability (4)                             (2,449   )                 —                      (2,449   )                 —              \n Professional fees (5)                                           1,355                      1,112                  3,952                      4,962          \n Stock-based compensation expense (6)                            1,387                      1,619                  5,603                      5,916          \n Adjustments to tax receivable agreement liability (7)           (173     )                 (352     )             (1,029   )                 (347     )     \n Adjusted EBITDA                                           $     33,946               $     19,657           $     73,936               $     74,770         \n Net Sales                                                 $     295,537              $     207,039          $     914,590              $     807,561        \n Net Income Margin (8)                                           2.5      %                 2.3      %             0.2      %                 1.9      %     \n Adjusted EBITDA Margin (8)                                      11.5     %                 9.5      %             8.1      %                 9.3      %     \n\n\n\n (1  )  Represents the amount paid pursuant to a settlement agreement with the Chapter 11 trustee (the \"Trustee\") for Tommy's Fort Worth LLC and its affiliate debtors.           \n                                                                                                                                                                                  \n (2  )  Acquisition related step-up inventory amortization represents the amortization of the fair value step-up in Saxdor's inventories resulting from the acquisition of Saxdor, \n        which is recorded within Cost of goods sold.                                                                                                                              \n                                                                                                                                                                                  \n (3  )  Represents legal and advisory fees as well as integration costs incurred in connection with our acquisition of Saxdor on March 2, 2026.                                   \n                                                                                                                                                                                  \n (4  )  Represents the change in the contingent consideration (earnout) liability recognized in connection with the acquisition of Saxdor on March 2, 2026.                       \n                                                                                                                                                                                  \n (5  )  For fiscal year 2026 and 2025, represents legal and advisory fees, netted with insurance payments, related to ongoing litigation with our insurance carriers related to   \n        the Batchelder matters and ongoing litigation with Tommy's Boats and Matthew Borisch.                                                                                     \n                                                                                                                                                                                  \n (6  )  Represents equity-based incentives awarded to employees under our long-term incentive plans.                                                                              \n                                                                                                                                                                                  \n (7  )  For fiscal year 2026, we recognized other income from an adjustment in our tax receivable agreement liability mainly due to decreased blended federal and state tax rate  \n        used in computing our future tax obligations used as a result of tax reform changes in H.R. 1, commonly referred to as the One Big Beautiful Bill Act (\"OB3\") and in turn, \n        a $1.0 million decrease in the future benefit we expect to pay under our tax receivable agreement with pre-IPO owners. For fiscal year 2025, we recognized other income   \n        from an adjustment in our tax receivable agreement liability mainly due to a decrease in the state tax rate used in computing our future tax obligations and in turn, a   \n        decrease in the future benefit we expect to pay under our tax receivable agreement with pre-IPO owners.                                                                   \n                                                                                                                                                                                  \n (8  )  We calculate net income margin as net income divided by net sales and we define adjusted EBITDA margin as adjusted EBITDA divided by net sales.                           \n                                                                                                                                                                                  \n\n\n\n Reconciliation of Non-GAAP Adjusted Net Income (Unaudited):                                                                                                                           \n                                                                                                                                                                                       \n The following table sets forth a reconciliation of net income per share as determined in accordance with GAAP to adjusted net income per share for the periods presented (in thousands except share and per share data): \n                                                                                                                                                                                       \n                                                                             Three Months Ended June 30,                           Fiscal Year Ended June 30,                          \n                                                                                    2026                             2025                 2026                             2025        \n Reconciliation of Adjusted Net Income per Share of Class A Common Stock:                                                                                                              \n Net income attributable to Malibu Boats, Inc.                               $      7,232                     $      4,674         $      1,653                     $      14,879      \n Provision for taxes                                                                2,360                            2,018                740                              5,023       \n Litigation settlement (1)                                                          —                                —                    —                                3,500       \n Acquisition related amortization (2)                                               4,262                            1,659                10,653                           6,653       \n Acquisition related step-up inventory amortization (3)                             2,391                            —                    3,128                            —           \n Acquisition and integration related expenses (4)                                   6,698                            —                    14,773                           —           \n Adjustment to earnout liability (5)                                                (2,449      )                    —                    (2,449      )                    —           \n Professional fees (6)                                                              1,355                            1,112                3,952                            4,962       \n Stock-based compensation expense (7)                                               1,387                            1,619                5,603                            5,916       \n Adjusted income before taxes                                                       23,236                           11,082               38,053                           40,933      \n Income tax expense on adjusted income before income taxes (8)                      5,275                            2,715                8,638                            10,029      \n Adjusted net income                                                         $      17,961                    $      8,367         $      29,415                    $      30,904      \n                                                                                                                                                                                       \n Basic weighted-average shares outstanding                                          19,723,237                       19,326,533           19,304,771                       19,664,337  \n\n\n\n                                                                  Three Months Ended June 30,                 Fiscal Year Ended June 30,                \n                                                                         2026                 2025                   2026                 2025          \n Net income attributable to Malibu Boats, Inc.                    $      0.37                 $      0.24     $      0.09                 $      0.76   \n Provision for taxes                                                     0.12                        0.10            0.04                        0.26   \n Litigation settlement (1)                                               —                           —               —                           0.18   \n Acquisition related amortization (2)                                    0.22                        0.08            0.55                        0.34   \n Acquisition related step-up inventory amortization (3)                  0.12                        —               0.16                        —      \n Acquisition and integration related expenses (4)                        0.34                        —               0.77                        —      \n Adjustment to earnout liability (5)                                     (0.12  )                    —               (0.13  )                    —      \n Professional fees (6)                                                   0.07                        0.06            0.20                        0.25   \n Stock-based compensation expense (7)                                    0.07                        0.08            0.29                        0.30   \n Adjusted income before taxes                                            1.19                        0.56            1.97                        2.09   \n Income tax expense on adjusted income before income taxes (8)           0.27                        0.14            0.45                        0.51   \n Adjusted net income                                              $      0.92                 $      0.42     $      1.52                 $      1.58   \n\n\n\n (1  )  Represents the amount paid pursuant to a settlement agreement with the Chapter 11 trustee (the \"Trustee\") for Tommy's Fort Worth LLC and its affiliate debtors.                                                                                                                                                                                                                                                                                                                                                           \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (2  )  Represents amortization of intangibles acquired in connection with the acquisitions of Maverick Boat Group, Pursuit, Cobalt, and Saxdor.                                                                                                                                                                                                                                                                                                                                                                                  \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (3  )  Acquisition related step-up inventory amortization represents the amortization of the fair value step-up in Saxdor's inventories resulting from the acquisition of Saxdor, which is recorded within Cost of goods sold.                                                                                                                                                                                                                                                                                                   \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (4  )  Represents legal and advisory fees as well as integration costs incurred in connection with our acquisition of Saxdor on March 2, 2026.                                                                                                                                                                                                                                                                                                                                                                                   \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (5  )  Represents the change in the contingent consideration (earnout) liability recognized in connection with the acquisition of Saxdor on March 2, 2026.                                                                                                                                                                                                                                                                                                                                                                       \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (6  )  For fiscal year 2026 and 2025, represents legal and advisory fees, netted with insurance payments, related to ongoing litigation with our insurance carriers related to the Batchelder matters and ongoing litigation with Tommy's Boats and Matthew Borisch.                                                                                                                                                                                                                                                             \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (7  )  Represents equity-based incentives awarded to employees under our long-term incentive plans.                                                                                                                                                                                                                                                                                                                                                                                                                              \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n (8  )  Reflects income tax expense at an estimated normalized annual effective income tax rate of 22.7% and 24.5% of income before taxes for fiscal year 2026 and 2025, respectively. The estimated normalized annual effective income tax rate for fiscal years 2026 and 2025 is based on the federal statutory rate plus a blended state rate adjusted for the research and development tax credit, the foreign derived intangible income deduction, and foreign income taxes attributable to our international subsidiaries.  \n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  \n\n\n\n Reconciliation of Non-GAAP Free Cash Flow (Unaudited):                                                                                                              \n                                                                                                                                                                     \n Non-GAAP Reconciliation                                                                                                                                             \n                                                                                                                                                                     \n The following table sets forth a reconciliation of net cash provided by operating activities to free cash flow for the periods presented (dollars in thousands):    \n                                                                                                                                                                     \n                                                                  Three Months Ended June 30,                       Fiscal Year Ended June 30,                       \n                                                                        2026                       2025                   2026                        2025           \n Net cash provided by operating activities                        $     26,950               $     21,039           $     67,509                $     56,506         \n Net cash (used for) provided by:                                                                                                                                    \n Plus: Capital expenditures                                             (10,055  )                 (6,954   )             (24,663   )                 (27,917  )     \n Plus: Proceeds from the sale of property, plant and equipment          99                         155                    352                         543            \n Free cash flow                                                   $     16,994               $     14,240           $     43,198                $     29,132         \n                                                                                                                                                                     \n Net cash used in investing activities                            $     (2,307   )           $     (6,799   )       $     (142,616  )           $     (27,374  )     \n Net cash (used in) provided by financing activities              $     (552     )           $     (15,965  )       $     111,681               $     (18,820  )     \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/3681369d-b9fe-40ce-b20c-188d13faef4a)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-27T11:00:01.055124494Z","server_sent_at_ms":1787828401055},"received_at":"2026-08-27T11:00:01.114Z","source_url":"https://www.globenewswire.com/news-release/2026/08/27/3351893/29346/en/malibu-boats-inc-announces-fourth-quarter-and-full-year-fiscal-2026-results.html"},"analysis":{"id":"118012","press_release_id":"129098","analysis_json":{"industry":{"label":"Leisure Products","sector":"Consumer Discretionary"},"redFlags":["Full year GAAP net income decreased 88.8% to $1.7 million","General and administrative expenses increased significantly due to acquisition costs"],"eventType":"earnings","narrative":"Malibu Boats reported strong fiscal Q4 results with net sales jumping 42.7% year-over-year to $295.5 million and adjusted EBITDA surging 72.7% to $33.9 million, driven by the Saxdor acquisition and favorable model mix.\n\nFor the full fiscal year, net sales increased 13.3% to $914.6 million while free cash flow grew 48.3% to $43.2 million, though GAAP net income fell 88.8% due to acquisition integration costs.\n\nManagement issued fiscal 2027 guidance for net sales of $1.08 billion to $1.12 billion and adjusted EBITDA of $101 million to $109 million, alongside a newly authorized $70 million share repurchase program following a credit facility refinancing.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Malibu Boats powers into FY27 with 43% Q4 sales growth, strong FCF, and a new $70M buyback."},"keyFigures":{"eps":0.37,"revenue":295500000,"guidance":"Fiscal 2027 Net Sales $1.08B - $1.12B; Adjusted EBITDA $101M - $109M","revenueYoy":"42.7%","customDimensions":{"fcf":17000000,"fy_revenue":914600000,"fy_net_income":1700000,"adjusted_ebitda":33900000,"buyback_authorization":70000000}},"quotedText":"Fiscal 2026 demonstrated the power of our strategic execution. We delivered a strong finish to the year, driven by better than expected net sales, disciplined cost management, dealer network optimization, and the successful integration of Saxdor in our first four months with the business.","namedEntities":{"people":[{"name":"Steve Menneto","role":"President and Chief Executive Officer"},{"name":"David Black","role":"Chief Financial Officer"}],"products":["Malibu","Axis","Cobalt","Pursuit","Maverick Boat Group","Saxdor"],"companies":[{"name":"Malibu Boats, Inc.","ticker":"MBUU"},{"name":"Saxdor","relationship":"acquired brand"}],"dollarAmounts":[{"amount":"$295.5 million","context":"Q4 fiscal 2026 net sales"},{"amount":"$914.6 million","context":"Fiscal 2026 net sales"},{"amount":"$7.4 million","context":"Q4 fiscal 2026 GAAP net income"},{"amount":"$33.9 million","context":"Q4 fiscal 2026 Adjusted EBITDA"},{"amount":"$17.0 million","context":"Q4 fiscal 2026 Free cash flow"},{"amount":"$70 million","context":"Fiscal 2027 share repurchase program"},{"amount":"$1.08 billion to $1.12 billion","context":"Fiscal 2027 Net Sales guidance"}]},"materialImpact":{"score":4,"reasoning":"Q4 results showed significant growth with net sales up 42.7% and Adjusted EBITDA up 72.7% year-over-year, driven by the Saxdor acquisition and pricing. Full-year Free Cash Flow increased 48.3%. The company also issued strong FY27 guidance and authorized a new $70M buyback, signaling confidence despite full-year GAAP net income pressure from integration costs."},"tickerRelevance":{"others":[],"primary":"MBUU"},"globalImportance":35,"audienceRelevance":25,"eventTypeSecondary":["guidance_update","buyback"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"strong Q4 beat / positive guidance","sectorWeight":"consumer_discretionary"}},"event_type":"earnings","event_type_secondary":["guidance_update","buyback"],"sentiment":"bullish","material_impact_score":4,"narrative":"Malibu Boats reported strong fiscal Q4 results with net sales jumping 42.7% year-over-year to $295.5 million and adjusted EBITDA surging 72.7% to $33.9 million, driven by the Saxdor acquisition and favorable model mix.\n\nFor the full fiscal year, net sales increased 13.3% to $914.6 million while free cash flow grew 48.3% to $43.2 million, though GAAP net income fell 88.8% due to acquisition integration costs.\n\nManagement issued fiscal 2027 guidance for net sales of $1.08 billion to $1.12 billion and adjusted EBITDA of $101 million to $109 million, alongside a newly authorized $70 million share repurchase program following a credit facility refinancing.","key_figures":{"eps":0.37,"revenue":295500000,"guidance":"Fiscal 2027 Net Sales $1.08B - $1.12B; Adjusted EBITDA $101M - $109M","revenueYoy":"42.7%","customDimensions":{"fcf":17000000,"fy_revenue":914600000,"fy_net_income":1700000,"adjusted_ebitda":33900000,"buyback_authorization":70000000}},"named_entities":{"people":[{"name":"Steve Menneto","role":"President and Chief Executive Officer"},{"name":"David Black","role":"Chief Financial Officer"}],"products":["Malibu","Axis","Cobalt","Pursuit","Maverick Boat Group","Saxdor"],"companies":[{"name":"Malibu Boats, Inc.","ticker":"MBUU"},{"name":"Saxdor","relationship":"acquired brand"}],"dollarAmounts":[{"amount":"$295.5 million","context":"Q4 fiscal 2026 net sales"},{"amount":"$914.6 million","context":"Fiscal 2026 net sales"},{"amount":"$7.4 million","context":"Q4 fiscal 2026 GAAP net income"},{"amount":"$33.9 million","context":"Q4 fiscal 2026 Adjusted EBITDA"},{"amount":"$17.0 million","context":"Q4 fiscal 2026 Free cash flow"},{"amount":"$70 million","context":"Fiscal 2027 share repurchase program"},{"amount":"$1.08 billion to $1.12 billion","context":"Fiscal 2027 Net Sales guidance"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-27T11:09:11.252Z","global_importance":35,"audience_relevance":25,"importance_components":{"tickerTier":"mid-cap","eventGravity":"strong Q4 beat / positive guidance","sectorWeight":"consumer_discretionary"}},"durationMs":101308,"modelName":"glm-4.7"}}