MARINEMAX INC

For the period ended Sep 30, 2025. Filed Nov 17, 2025.

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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.

FY2025 · Filed Nov 17, 2025

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,
	2025	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$(30,766)	$38,738	$109,478
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	49,320	44,487	41,032
Deferred income tax (benefit) provision, net of effects of acquisitions	(12,870)	3,390	23,059
Goodwill impairment	69,055	—	—
Loss (gain) from hurricane	4,433	4,850	(933)
Change in fair value of contingent consideration	(28,126)	(3,030)	2,372
Loss (gain) on sale of property and equipment and assets held for sale	(205)	432	(354)
Gain on previously held equity investment upon acquisition of the entire business	—	—	(5,129)
Proceeds from insurance settlements	118	—	—
Stock-based compensation expense	19,353	23,961	21,657
(Increase) decrease in, net of effects of acquisitions —
Accounts receivable, net	(3,646)	(20,427)	(30,977)
Inventories	35,489	(90,966)	(351,753)
Prepaid expenses and other assets	(3,554)	(1,465)	254
(Decrease) increase in, net of effects of acquisitions —
Accounts payable	1,714	(17,595)	24,043
Contract liabilities (customer deposits)	(18,674)	(16,885)	(65,617)
Accrued expenses and other liabilities	(8,835)	8,850	10,633
Net cash provided by (used in) operating activities	72,806	(25,660)	(222,235)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(60,864)	(60,423)	(65,408)
Proceeds from insurance settlements	2,028	581	3,440
Issuance of notes receivable	(2,811)	—	—
Cash used in acquisition of businesses, net of cash acquired	(10,482)	(21,955)	(516,794)
Proceeds from investments	—	—	2,143
Purchases of investments	(493)	—	(2,486)
Proceeds from trade name and warranties assumed in asset exchange agreement	6,170	—	—
Proceeds from sale of property and equipment and assets held for sale	10,828	450	2,740
Net cash used in investing activities	(55,624)	(81,347)	(576,365)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings on short-term borrowings (Floor Plan)	6,685	170,000	404,708
Proceeds from long-term debt	36,540	—	400,000
Payments for long-term debt	(34,223)	(33,766)	(25,272)
Net proceeds from issuance of common stock under incentive compensation, and employee purchase plans	2,591	2,641	2,353
Contingent acquisition consideration payments	(51,510)	(3,032)	(8,340)
Payments on tax withholdings for equity awards	(4,585)	(5,193)	(3,045)
Purchase of treasury stock	(27,480)	(2,141)	—
Net cash (used in) provided by financing activities	(71,982)	128,509	770,404
Effect of exchange rate changes on cash	825	1,368	1,378
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:	(53,975)	22,870	(26,818)
CASH AND CASH EQUIVALENTS, beginning of year	224,326	201,456	228,274
CASH AND CASH EQUIVALENTS, end of year	$170,351	$224,326	$201,456

See accompanying notes to consolidated financial statements

	For the Year Ended September 30,
	2025	2024	2023
Supplemental disclosures of cash flow information:
Cash paid for:
Interest	$77,415	$79,308	$51,974
Income taxes	9,199	9,827	30,034
Non-cash items:
Accrued tax withholdings upon vesting of equity awards	4,249	3,797	3,082
Contingent consideration liabilities from acquisitions	—	1,313	77,380
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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