Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Q1 2026 Earnings Presentation
20 slides from Malibu Boats's earnings presentation, Oct 30, 2025
Slide 1: Leading the Future of Marine
Leading the Future of Marine FIRST QUARTER FISCAL 2026 EARNINGS RESULTS October 30, 2025
Slide 2: Use & Definition of Non-GAAP Financial Measures
Use & Definition of Non-GAAP Financial Measures This presentations includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income per Share and Free Cash Flo
Slide 3: Use & Definition of Non-GAAP Financial Measures
Use & Definition of Non-GAAP Financial Measures We define adjusted net income per share as net loss attributable to Malibu Boats, Inc. per share, excluding income tax expense (benefit), before non-cash, non-operating expenses, or other expenses that we do not believe are indicative of our ongoing ex
Slide 4: Forward Looking Statements
Forward Looking Statements This presentation includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,”
Slide 5: Key Takeaways
• Solid start to year with positive year-over-year revenue Key Takeaways growth despite ongoing retail softness • Continuing to prioritize dealer health and maintaining healthy inventory levels • Encouraging feedback on new models heading into boat show season, reinforcing our commitment to customer
Slide 6: Fiscal Q1 2026 Highlights
Fiscal Q1 2026 Highlights Adjusted EBITDA (1) Strong execution drove outperformance in a $11.8 challenging environment $9.9 Q1 net sales of $194.7million, up 13.5% YoY Q1 FY25 Q1 FY26 Driven by increased unit volumes in the Malibu segment and a higher ASP Gross margin of 14.3%, down 210bps YoY Adjus
Slide 7: New MY26 Product Introductions
New MY26 Product Introductions Select New Product Launches Q1 2026 Select New Product Launches Q1 Fiscal Year 2026 Malibu 22LSV Axis T250 Pathfinder 2600 TRS Malibu 21LX Pursuit S388 Cobia 245 CC Cobalt R31 Axis A200 Outboard Cobia 305 CC a R31 7
Slide 8: New Opportunities to Accelerate Profitable Growth
New Opportunities to Accelerate Profitable Growth New Market Growth Share Growth Strategic M&A Geographic expansion, Innovative Next-gen Targeting strategic whitespace opportunities product series opportunities in boat and financial product building partnerships Explore adjacent Features and options
Slide 9: Building Capabilities
Building Capabilities Vertically integrated supplier of premium In-house financing partnership to drive marine components sales conversion Expands revenue beyond boat sales with Competitive financing pilot for Malibu component offerings customers and dealers Empowering dealers with integrated tools
Slide 10: Illustrative Market Environment Framework
Illustrative Market Environment Framework Mid-cycle + Mid-cycle Outperformance Baseline(1) Framework (1) Capacity Utilization ~65% ~75% Net Sales $1.3B $1.5B Adj. EBITDA Margin 17.5% 20.0% CAPEX as % of Sales ~3% ~3% Adj. FCF ~$130M ~$200M Adj. FCF Conversion ~60% ~65% * Adjusted EBITDA, Adjusted Fr
Slide 11: First Quarter Fiscal Year 2026 Comparable Results
First Quarter Fiscal Year 2026 Comparable Results Net Sales Volume $194.7 1,129 $171.6 1,024 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Net Sales Per Unit Mix Comparison Q1 FY25 Q1 FY26 $167.6 $172.5 Cobalt: Cobalt: Malibu/Axis: 29.6% Malibu/Axis: 26.6% 32.7% 40.4% Saltwater Saltwater Fishing: Fishing: 37.7% Q
Slide 12: First Quarter Fiscal Year 2026 Comparable Results
First Quarter Fiscal Year 2026 Comparable Results Gross Margin Gross Profit $28.2 $27.9 16.4% 14.3% Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Adj. EBITDA Margin (1) Adj. EBITDA (1) $11.8 6.1% $9.9 5.8% Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 1. See Appendix for a reconciliation of Non-GAAP Adjusted EBITDA to Net (Los
Slide 13: Fiscal Year 2026 Outlook
Fiscal Year 2026 Outlook Metric FY26 Net Sales Flat to down mid-single digits Adj. EBITDA Margin 8% to 9% Positioned to Outpace the Market 13
Slide 14: Appendix
Appendix — oe Y MBI
Slide 15: Reconciliation of Net Loss Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Net Loss Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin The following table sets forth a reconciliation of net loss income as determined in accordance with GAAP to Adjusted EBITDA and presentation of net loss income margin and Adjusted EBITDA Margin for the periods i
Slide 16: Adjusted EBITDA and Adjusted EBITDA Margin Footnotes
Adjusted EBITDA and Adjusted EBITDA Margin Footnotes (1) For the three months ended September 30, 2025, represents legal and advisory fees related to ongoing litigation with our insurance carriers related to the Batchelder matters and ongoing litigation with Tommy's Boats and Matthew Borisch. For th
Slide 17: Reconciliation of Net Loss Attributable to Class A Common Stock to Adjusted Net Income
Reconciliation of Net Loss Attributable to Class A Common Stock to Adjusted Net Income (Unaudited): The following table sets forth a reconciliation of net loss attributable to Malibu Boats, Inc. to Adjusted Net Income for the periods presented (dollars in thousands, except per share data): Three Mon
Slide 18: Reconciliation of Net Loss Per Share to Adjusted Net Income Per Share
Reconciliation of Net Loss Per Share Attributable to Class A Common Stock to Adjusted Net Income Per Share (Unaudited): The following table sets forth a reconciliation of net loss attributable to Malibu Boats, Inc. to Adjusted Net Income for the periods presented (dollars in thousands, except per sh
Slide 19: Adjusted Net Loss Income and Adjusted Net Loss Income Per Share Footnotes
Adjusted Net Loss Income and Adjusted Net Loss Income Per Share Footnotes (1) For the three months ended September 30, 2025, represents legal and advisory fees related to ongoing litigation with our insurance carriers related to the Batchelder matters and ongoing litigation with Tommy's Boats and Ma
Slide 20: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow (Unaudited) The following table sets forth a reconciliation of net cash provided by operating activities to free cash flow for the periods presented (dollars in thousands): Three Months Ended September 30, 2025 2024 Net ca