MARINEMAX INC

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Nov 14, 2024

HZO$52.77+0.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEM ENTS OF CASH FLOWS

(Amounts in thousands)

	For the Year Ended September 30,
	2022	2023	2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$197,989	$109,478	$38,738
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	19,418	41,032	44,487
Deferred income tax provision, net of effects of acquisitions	2,149	23,059	3,390
Loss (gain) from hurricane	4,800	(933)	4,850
(Loss) Gain on sale of property and equipment	(108)	(354)	432
Gain on previously held equity investment upon acquisition of the entire business	—	(5,129)	—
Stock-based compensation expense	16,013	21,657	23,961
(Increase) decrease in, net of effects of acquisitions —
Accounts receivable, net	(563)	(30,977)	(20,427)
Inventories	(198,018)	(351,753)	(90,966)
Prepaid expenses and other assets	(4,259)	254	(1,465)
(Decrease) increase in, net of effects of acquisitions —
Accounts payable	7,358	24,043	(17,595)
Contract liabilities (customer deposits)	26,273	(65,617)	(16,885)
Accrued expenses and other liabilities	5,543	13,005	5,820
Net cash provided by (used in) operating activities	76,595	(222,235)	(25,660)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(58,456)	(65,408)	(60,423)
Proceeds from insurance settlements	—	3,440	581
Cash used in acquisition of businesses, net of cash acquired	(83,198)	(516,794)	(21,955)
Proceeds from investments	2,250	2,143	—
Purchases of investments	(1,750)	(2,486)	—
Proceeds from sale of property and equipment and assets held for sale	703	2,740	450
Net cash used in investing activities	(140,451)	(576,365)	(81,347)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings (payments) on short-term borrowings (Floor Plan)	107,798	404,708	170,000
Proceeds from long-term debt	—	400,000	—
Payments for long-term debt	(2,902)	(25,272)	(33,766)
Payments for debt issuance costs	(3,145)	—	—
Net proceeds from issuance of common stock under incentive compensation, and employee purchase plans	2,199	2,353	2,641
Contingent acquisition consideration payments	(4,950)	(8,340)	(3,032)
Payments on tax withholdings for equity awards	(4,644)	(3,045)	(5,193)
Purchase of treasury stock	(21,292)	—	(2,141)
Net cash provided by financing activities	73,064	770,404	128,509
Effect of exchange rate changes on cash	(3,126)	1,378	1,368
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:	6,082	(26,818)	22,870
CASH AND CASH EQUIVALENTS, beginning of year	222,192	228,274	201,456
CASH AND CASH EQUIVALENTS, end of year	$228,274	$201,456	$224,326
Supplemental disclosures of cash flow information:
Cash paid for:
Interest	$2,592	$51,974	$79,308
Income taxes	64,843	30,034	9,827
Non-cash items:
Accrued tax withholdings upon vesting of equity awards	1,903	3,082	3,797
Contingent consideration liabilities from acquisitions	7,350	77,380	1,313
Other current assets held for sale previously classified as property and equipment	—	—	11,964

See accompanying notes to consolidated financial statements

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.