Off The Hook YS (OTH) Registration Filing summary

Company overview and business model

• Operates as a vertically integrated yacht and boat dealership, specializing in buying, selling, wholesaling, and financing yachts and boats through multiple business units and affiliates.

• Key business units include Off The Hook Yacht Sales NC, Azure Funding (recreational loan broker/lender), OTH Simon Marine YF (Yellowfin sales), WeBuyBoats.com (direct acquisition/resale), OTH Yacht Services (maintenance/repair), and Marine Asset Recovery (repossession/recovery).

• Proprietary AI-driven CRM system streamlines operations, automates lead matching, and enhances data-driven decision-making for brokers.

• Strategic partnership with NexGen AI to further integrate external data and predictive analytics into operations.

Financial performance and metrics

• FY 2024 revenue: $98.99M, up 7.8% from $91.84M in 2023; Q1 2025 revenue: $27.24M, up 30.8% YoY.

• FY 2024 net income: $991,684; Q1 2025 net income: $289,774.

• Gross profit for FY 2024: $8.78M (down 4% YoY); Q1 2025: $2.68M (up 27.9% YoY).

• As of March 31, 2025: cash $934K, total assets $33.8M, total liabilities $33.1M.

• Floorplan notes payable as of March 31, 2025: $24.66M.

Use of proceeds and capital allocation

• Net proceeds (~$22M at $5.00/share) to be used for: servicing floorplan ($10M), advertising/marketing ($1M), downpayments for waterfront property ($8M), repayment of $2.9M promissory note, and working capital.

• Plans to expand floorplan financing to $50M+ by 2026, reduce reliance on high-interest financing, and invest in marina acquisitions and technology.