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Massimo Group Reports Fiscal Year End 2024 Financial Results
Massimo Group (NASDAQ: MAMO) ("Massimo" or the "Company"), a manufacturer and distributor of powersports vehicles and pontoon boats, today released its financial results for the fourth quarter and the year ended Dec. 31, 2024, noting revenue from sales of UTVs, ATVs and electric bikes increased by $4.1 million, or 4.0%, from $103.3 million in fiscal 2023 to $107.5 million in fiscal 2024. As of Dec. 31, 2024, Massimo reported a positive working capital of $19.2 million, with an increase in net ca
About this update from Massimo Group
[{"type":"text","content":"GARLAND, Texas, March 27, 2025 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo" or the "Company"), a manufacturer and distributor of powersports vehicles and pontoon boats, today released its financial results for the fourth quarter and the year ended Dec. 31, 2024, noting revenue from sales of UTVs, ATVs and electric bikes increased by $4.1 million, or 4.0%, from $103.3 million in fiscal 2023 to $107.5 million in fiscal 2024. As of Dec. 31, 2024, Massimo reported a positive working capital of $19.2 million, with an increase in net cash and cash equivalents of $9.4 million for the year ended Dec. 31, 2024.","length":645,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Massimo Group)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Massimo Group)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":118,"url":"https://media.zenfs.com/en/prnewswire.com/cfa51a15a46b37d02b91b96ed5c3ccd6"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/VTuLZkp082g8pmoETDp1wA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIwODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/cfa51a15a46b37d02b91b96ed5c3ccd6","width":400,"height":118}},"href":"https://mma.prnewswire.com/media/2376863/Massimo_Group_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The increase in revenue was primarily attributed to Massimo's expansion of product sales into large retail stores in the U.S., along with a shift in the Company's sales strategy.","length":186,"tagName":"p"},{"type":"text","content":"Massimo Group, through its subsidiaries Massimo Motor Sports and Massimo Marine LLC, manufactures, imports and distributes a diversified and competitive portfolio of products including UTVs, ATVs, motorcycles, scooters, golf carts, tractors and recreational pontoon boats among other product lines designed for outdoor enthusiasts.","length":331,"tagName":"p"},{"type":"text","content":"David Shan, CEO of Massimo Group, emphasized operational highlights including the below.","length":88,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Relocation of its MVR Golf Cart series production to its state of the art facility located in Garland, Texas.","length":114,"tagName":"p"}]},{"val":[{"type":"text","content":"A new robotic assembly line, which increases effi...