NextBoat (NXB) investor relations material

Market opportunity and business model

• U.S. marine market totals $58B annually, with $13B in used-boat sales and 78% of all boat sales being used boats.

• Used-boat transactions are faster, more profitable, and scalable, with no OEM constraints and higher margins.

• The digital marketplace model integrates direct purchases, auctions, AI-driven valuations, and online financing, similar to Carvana for autos.

• Proprietary data engine enables real-time valuations, monetization through financing, insurance, and data licensing.

• One connected ecosystem includes dealership, brokerage, financing, service, and refurbishment hubs.

Growth strategy and platform development

• Launched NextBoat MLS to control listings, sales, and data, with a growing broker network and significant owned inventory.

• Plans include a dealer auction engine, more marina ownership, AI-driven cost reduction, and direct-to-consumer reach.

• Growth drivers: more inventory, AI-driven matching, upselling of financing and services, and capital-efficient expansion.

• Acquisitions of Apex and Bellhart expand service and sales footprint, integrating assets and reducing third-party costs.

• Revenue scales faster than costs due to commission-only brokers, automation, and recurring high-margin add-ons.

Financial performance and outlook

• Q2 2026 revenue reached $59.1M, up 88.4% year over year, with gross profit up 100.1% to $9.5M.

• Full-year 2026 revenue guidance is $165–$170M.

• Floorplan capacity increased to $60M, with 100+ brokers and expansion into new regions.

• Q2 2026 saw 255 boats sold, a company record, and operating expenses included $1.7M in non-cash stock-based compensation.

• Balance sheet as of March 31, 2026: $5.3M cash, $46.4M inventory, $64.5M total assets, $54M total liabilities.