Segment Reporting (Tables)

12 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment

The following table presents financial information for the Company’s reportable segments for the fiscal years ended June 30, 2025, 2024, and 2023.


Fiscal Year Ended June 30, 2025
	Malibu		Saltwater Fishing		Cobalt		Total
Net sales	$	312,698	$	279,635	$	215,228	$	807,561
Cost of sales (excluding depreciation)	226,956		226,544		180,141		633,641
Sales and marketing expense	9,693		8,834		4,544		23,071
General and administrative expense (excluding depreciation) 1	15,476		17,585		12,687		45,748
Other segment items 2	(38)		—		—		(38)
Segment Adjusted EBITDA	60,611		26,672		17,856		105,139
Reconciliation of segment adjusted EBITDA to income before income taxes:
Corporate expenses and other 3							46,283
Depreciation							31,794
Amortization							6,799


Income before income taxes							$	20,263








Fiscal Year Ended June 30, 2024
	Malibu		Saltwater Fishing		Cobalt		Total
Net sales	$	279,131	$	327,542	$	222,362	$	829,035
Cost of sales (excluding depreciation)	211,443		264,707		181,659		657,809
Sales and marketing expense	9,094		8,835		4,855		22,784
General and administrative expense (excluding depreciation) 1	16,056		18,477		13,177		47,710
Other segment items 2	(41)						(41)
Segment Adjusted EBITDA	42,579		35,523		22,671		100,773
Reconciliation of segment adjusted EBITDA to income before income taxes:
Corporate expenses and other 3							28,445


Depreciation							26,178
Amortization							6,811
Goodwill and other intangible asset impairment							88,389
Abandonment of construction in process							8,735
Loss before income taxes							$	(57,785)






Fiscal Year Ended June 30, 2023
	Malibu		Saltwater Fishing		Cobalt		Total
Net sales	$	636,247	$	449,156	$	302,962	$	1,388,365
Cost of sales (excluding depreciation)	422,706		357,208		237,145		1,017,059
Sales and marketing expense	10,728		8,074		5,207		24,009
General and administrative expense (excluding depreciation) 1	16,078		16,732		11,131		43,941
Other segment items 2	(138)						(138)
Segment Adjusted EBITDA	186,873		67,142		49,479		303,494
Reconciliation of segment adjusted EBITDA to income before income taxes:
Corporate expenses and other 3							133,283
Depreciation							21,912
Amortization							6,808


Income before income taxes							$	141,491

1 The primary difference between this significant segment expense and “G&A (excluding depreciation)” within the Company’s Consolidated Statements of Operations relates to stock-based compensation, professional fees and litigation settlements which all fall under the "corporate expenses and other" category discussed below.

2 Other segment items include other income.

3 Corporate expenses and other represents costs incurred at the corporate level that are not allocated to the operating segments, specifically relating to certain executive compensation including stock-based compensation, corporate professional fees, litigation settlements, interest expense, adjustments to tax receivable agreement, other corporate costs, and unallocated shared service function expenses. “Corporate expenses and other” is included in the table above to reconcile the total of Segment Adjusted EBITDA to the Company’s consolidated income (loss) before income taxes.