MALIBU BOATS INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2023-12-31; filed 2024-01-30.
0001590976-24-000012
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2024-03-31; filed 2024-05-02.
0001590976-24-000036
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 2 previous paragraphs and 5 current paragraphs.
1 unchanged; 1 reworded; 3 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (3)
Current report
We have ended our dealership arrangements with a significant dealer, Tommy’s Boats. It may require time for us to enter into arrangements with new dealers in markets previously served by Tommy’s, which could adversely impact our sales and business and may result in a loss of market share.
Current report
We have ended our dealership arrangements with Tommy’s Boats. Sales to locations under common control of Tommy's Boats represented approximately 9.4%,10.7% and 3.0% of our consolidated net sales for fiscal year 2022, fiscal year 2023 and the first nine months of fiscal year 2024, respectively, including approximately 23.3% and 8.3% of consolidated sales in fiscal year 2023 and the first nine months of fiscal year 2024, respectively, for our Malibu segment.
Current report
We depend on our network of dealers to support, market and service our products. It may require time for us to enter into arrangements with new dealers in markets previously served by Tommy’s, which could adversely impact our sales and business. We must compete with other recreational powerboat manufacturers to attract new dealers and we must identify dealers that have the financial and other resources to market and service our products. Further, we may be asked to enter into repurchase agreements with the financing companies that provide lending arrangements to any new dealers. In addition, Tommy’s Boats has also filed a complaint against us that alleges we breached obligations under dealership agreements with them, among other things. The lawsuit could adversely affect our brand, image or reputation and could impact our ability to attract and retain dealers. If it requires an extended period of time for us to enter into arrangements with new dealers, it may also result in our loss of market share.
Reworded paragraphs (1)
Previous wording
During the quarter ended December 31, 2023, there were no material changes to the risk factors discussed in Part I, Item 1A. "Risk Factors” of our Annual Report on Form 10-K for the year ended June 30, 2023.
Current wording
During the quarter ended March 31, 2024, other than as described below, there were no material changes to the risk factors discussed in Part I, Item 1A. "Risk Factors” of our Annual Report on Form 10-K for the year ended June 30, 2023.