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$OTH Reported $29.8 Million Record Setting Q1, Increased 9.6% Year Over Year, with Boosted Annual Guidance to $160 Million
WILMINGTON, N.C. - Michimich -- One of America's Largest Buyers and Sellers of Pre-Owned Boats.
More Than $100 Million in Boats and Yachts Acquired Annually.
Well Positioned to Serve the U.S. Marine Industry Valued at $57 Billion.
AI-Assisted Valuation Tools and Data-Driven Sales Platform Bring Speed and Transparency to Transactions.
Consistently Earned Recognition on The Inc. 500, Ranked Among the Top 100 Dealers in the USA.
2026 Initial Research Report on OTH Released by Think Equity with Price Target of $10 Per Share.
Upcoming Rebrand as NextBoat Inc. and Change of Ticker Symbol from "OTH" to "NXB" on the N Y S E American, Effective About May 29, 2026.
Annual Revenue Projected Between $165 Million and $170 Million Compared to Prior Guidance of $155 Million to $160 Million.
Completed Acquisition of Apex Marine Companies, Creating Mega Service, Refurbishment & Sales Hub for Global Customers.
Expanding Into New Boat Sales with Sportsman and Phenom Brands, Powered by Unique Storage Ecosystem.
Global Broker Expansion Initiative, Introducing Scalable Five-Tier Growth Model.
Off The Hook YS Inc. (N Y S E American: OTH), Founded in 2012 by Jason Ruegg, has become one of America's largest buyers and sellers of pre-owned boats. Headquartered in Wilmington, North Carolina, with operations throughout the East Coast and South Florida, OTH acquires more than $100 million in boats and yachts annually. OTH leverages AI-assisted valuation tools and a data-driven sales platform to bring speed and transparency to yacht transactions, supported by a nationwide network of offices and marinas offering brokerage, wholesale, and performance yacht sales.
OTH has consistently earned recognition on the Inc. 500, ranked among the Top 100 Dealers in the USA.
OTH has been profiled in January, 2026 with an initial research report by Think Equity projecting a price target of $10 per share.
Read the full Think Equity report on OTH at this direct link: https://acrobat.adobe.com/id/urn:aaid:sc:VA6C2:ae67d92f-6df9-43b9-a123-98a7ff6ace22?viewer%21megaVerb=group-discover
Rebrand as NextBoat and Ticker Symbol Change to "NXB"
On May 19th OTH announced that it will officially rebrand as NextBoat Inc. and change its ticker symbol from "OTH" to "NXB" on the N Y S E American, effective on or about May 29, 2026. The rebrand reflects the Company's evolution from a traditional yacht brokerage business into an AI-powered technology platform designed to modernize and scale the global pre-owned marine marketplace.
More on Michimich.com
OTH NextBoat is far more than a marketplace. The platform enables brokers, buyers, dealers, and resellers to source inventory, access AI-driven valuations, secure financing, and complete transactions digitally within a single ecosystem. At its core, OTH NextBoat is designed to power a growing network of independent marine entrepreneurs—including brokers, wholesalers, and resellers—allowing them to operate their businesses without the traditional overhead of brickand-mortar dealerships or brokerage offices. Rather than building expensive physical locations, OTH believes technology enables a scalable, decentralized distribution network, where participants can buy and sell boats from virtually anywhere while leveraging OTH NextBoat's technology, capital, financing, and operational infrastructure.
OTH NextBoat is embedding artificial intelligence throughout the transaction process, including:
AI-Driven Valuations to improve pricing accuracy.
AI-Assisted Acquisition to identify undervalued and off-market opportunities.
AI-Driven Closings (Next Phase) designed to automate documentation and workflows to support significant transaction growth.
AI-Powered Matching to connect buyers and sellers more efficiently.
OTH NextBoat combines:
Consumer marketplace transactions.
Dealer trade-in and wholesale liquidity through Off The Hook Yachts.
Auction and liquidation channels.
Financing and insurance solutions.
Long-term ownership and marine services.
Record First Quarter 2026 Financial Results and Increased Guidance
On May 14th OTH announced financial results for the quarter ended March 31, 2026.
2026 First Quarter OTH Highlights
Revenue increased 9.6% to $29.8 million compared to $27.2 million during Q1 of 2025.
Pre-owned boat sales increased 31.8% compared to the first quarter of 2025.
Sold 127 boats during the first quarter, representing a first quarter record for the Company.
Gross profit increased 18.5% to $3.2 million compared to $2.7 million in the first quarter of 2025.
Expanded the Company's broker network by 30 brokers during the quarter.
For full year 2026, OTH expects revenue between $165 million and $170 million compared to prior guidance of $155 million to $160 million.
Completed Acquisition of Apex Marine Companies, Creating Mega Service, Refurbishment & Sales Hub for Global Customers
On May 14th OTH announced that it has closed the acquisition of Apex Marine Companies, a premier South Florida marine service, storage, and sales operation. The acquisition delivers strategically located South Florida facilities, a highly skilled full-service team, and infrastructure that immediately enhances OTH operational efficiency, refurbishment capacity, and global sales reach. APEX's facilities include prime storage and service locations, haul-out capacity up to 150 metric tons and vessels up to 130 feet, and comprehensive in-house teams covering repair, refit, and refurbishment. This allows OTH to process the majority of acquired inventory internally.
More on Michimich.com
Expanding Into New Boat Sales with Sportsman and Phenom Brands, Powered by Unique Storage Ecosystem
On April 16th OTH announced a major expansion with the addition of Sportsman Boats and Phenom Yachts. These brands will be sold through Bellhart Marine, located on Market Street in Wilmington, North Carolina, a company OTH has committed to acquire.
While Bellhart Marine will serve as the Company's retail dealership hub, OTH will leverage Sloop Point Marina as a powerful supporting asset—creating a unique competitive advantage in the market. Sloop Point is not a dealership, but rather a large-scale dry stack storage facility for customers, currently operating 224 racks with approvals to expand to 450.
Global Broker Expansion Initiative, Introducing Scalable Five-Tier Growth Model
On April 9th OTH announced the launch of its global broker expansion initiative, with a newly introduced five-tier recruitment and performance structure. At the center of this expansion is a bold vision: to make boat and yacht sales one of the most rewarding, opportunity-rich careers on earth - where professionals can build meaningful income while helping people experience the freedom, joy, and lifestyle that only life on the water can deliver.
Since going public in November, OTH has nearly tripled its sales organization and its available capital resources, positioning the Company for its next phase of growth.
For more information on OTH visit: www.offthehookyachts.com and https://compasslivemedia.com/oth/
Media Contact:
Company Name: Off The Hook YS Inc. (N Y S E American: OTH)
Contact: Chad Corbin, Chief Financial Officer
Email: IR@offthehookys.com
Phone: (561) 374-0513
Country: United States
DISCLAIMER: https://corporateads.com/disclaimer/
Disclosure listed on the CorporateAds website
More Than $100 Million in Boats and Yachts Acquired Annually.
Well Positioned to Serve the U.S. Marine Industry Valued at $57 Billion.
AI-Assisted Valuation Tools and Data-Driven Sales Platform Bring Speed and Transparency to Transactions.
Consistently Earned Recognition on The Inc. 500, Ranked Among the Top 100 Dealers in the USA.
2026 Initial Research Report on OTH Released by Think Equity with Price Target of $10 Per Share.
Upcoming Rebrand as NextBoat Inc. and Change of Ticker Symbol from "OTH" to "NXB" on the N Y S E American, Effective About May 29, 2026.
Annual Revenue Projected Between $165 Million and $170 Million Compared to Prior Guidance of $155 Million to $160 Million.
Completed Acquisition of Apex Marine Companies, Creating Mega Service, Refurbishment & Sales Hub for Global Customers.
Expanding Into New Boat Sales with Sportsman and Phenom Brands, Powered by Unique Storage Ecosystem.
Global Broker Expansion Initiative, Introducing Scalable Five-Tier Growth Model.
Off The Hook YS Inc. (N Y S E American: OTH), Founded in 2012 by Jason Ruegg, has become one of America's largest buyers and sellers of pre-owned boats. Headquartered in Wilmington, North Carolina, with operations throughout the East Coast and South Florida, OTH acquires more than $100 million in boats and yachts annually. OTH leverages AI-assisted valuation tools and a data-driven sales platform to bring speed and transparency to yacht transactions, supported by a nationwide network of offices and marinas offering brokerage, wholesale, and performance yacht sales.
OTH has consistently earned recognition on the Inc. 500, ranked among the Top 100 Dealers in the USA.
OTH has been profiled in January, 2026 with an initial research report by Think Equity projecting a price target of $10 per share.
Read the full Think Equity report on OTH at this direct link: https://acrobat.adobe.com/id/urn:aaid:sc:VA6C2:ae67d92f-6df9-43b9-a123-98a7ff6ace22?viewer%21megaVerb=group-discover
Rebrand as NextBoat and Ticker Symbol Change to "NXB"
On May 19th OTH announced that it will officially rebrand as NextBoat Inc. and change its ticker symbol from "OTH" to "NXB" on the N Y S E American, effective on or about May 29, 2026. The rebrand reflects the Company's evolution from a traditional yacht brokerage business into an AI-powered technology platform designed to modernize and scale the global pre-owned marine marketplace.
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OTH NextBoat is far more than a marketplace. The platform enables brokers, buyers, dealers, and resellers to source inventory, access AI-driven valuations, secure financing, and complete transactions digitally within a single ecosystem. At its core, OTH NextBoat is designed to power a growing network of independent marine entrepreneurs—including brokers, wholesalers, and resellers—allowing them to operate their businesses without the traditional overhead of brickand-mortar dealerships or brokerage offices. Rather than building expensive physical locations, OTH believes technology enables a scalable, decentralized distribution network, where participants can buy and sell boats from virtually anywhere while leveraging OTH NextBoat's technology, capital, financing, and operational infrastructure.
OTH NextBoat is embedding artificial intelligence throughout the transaction process, including:
AI-Driven Valuations to improve pricing accuracy.
AI-Assisted Acquisition to identify undervalued and off-market opportunities.
AI-Driven Closings (Next Phase) designed to automate documentation and workflows to support significant transaction growth.
AI-Powered Matching to connect buyers and sellers more efficiently.
OTH NextBoat combines:
Consumer marketplace transactions.
Dealer trade-in and wholesale liquidity through Off The Hook Yachts.
Auction and liquidation channels.
Financing and insurance solutions.
Long-term ownership and marine services.
Record First Quarter 2026 Financial Results and Increased Guidance
On May 14th OTH announced financial results for the quarter ended March 31, 2026.
2026 First Quarter OTH Highlights
Revenue increased 9.6% to $29.8 million compared to $27.2 million during Q1 of 2025.
Pre-owned boat sales increased 31.8% compared to the first quarter of 2025.
Sold 127 boats during the first quarter, representing a first quarter record for the Company.
Gross profit increased 18.5% to $3.2 million compared to $2.7 million in the first quarter of 2025.
Expanded the Company's broker network by 30 brokers during the quarter.
For full year 2026, OTH expects revenue between $165 million and $170 million compared to prior guidance of $155 million to $160 million.
Completed Acquisition of Apex Marine Companies, Creating Mega Service, Refurbishment & Sales Hub for Global Customers
On May 14th OTH announced that it has closed the acquisition of Apex Marine Companies, a premier South Florida marine service, storage, and sales operation. The acquisition delivers strategically located South Florida facilities, a highly skilled full-service team, and infrastructure that immediately enhances OTH operational efficiency, refurbishment capacity, and global sales reach. APEX's facilities include prime storage and service locations, haul-out capacity up to 150 metric tons and vessels up to 130 feet, and comprehensive in-house teams covering repair, refit, and refurbishment. This allows OTH to process the majority of acquired inventory internally.
More on Michimich.com
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Expanding Into New Boat Sales with Sportsman and Phenom Brands, Powered by Unique Storage Ecosystem
On April 16th OTH announced a major expansion with the addition of Sportsman Boats and Phenom Yachts. These brands will be sold through Bellhart Marine, located on Market Street in Wilmington, North Carolina, a company OTH has committed to acquire.
While Bellhart Marine will serve as the Company's retail dealership hub, OTH will leverage Sloop Point Marina as a powerful supporting asset—creating a unique competitive advantage in the market. Sloop Point is not a dealership, but rather a large-scale dry stack storage facility for customers, currently operating 224 racks with approvals to expand to 450.
Global Broker Expansion Initiative, Introducing Scalable Five-Tier Growth Model
On April 9th OTH announced the launch of its global broker expansion initiative, with a newly introduced five-tier recruitment and performance structure. At the center of this expansion is a bold vision: to make boat and yacht sales one of the most rewarding, opportunity-rich careers on earth - where professionals can build meaningful income while helping people experience the freedom, joy, and lifestyle that only life on the water can deliver.
Since going public in November, OTH has nearly tripled its sales organization and its available capital resources, positioning the Company for its next phase of growth.
For more information on OTH visit: www.offthehookyachts.com and https://compasslivemedia.com/oth/
Media Contact:
Company Name: Off The Hook YS Inc. (N Y S E American: OTH)
Contact: Chad Corbin, Chief Financial Officer
Email: IR@offthehookys.com
Phone: (561) 374-0513
Country: United States
DISCLAIMER: https://corporateads.com/disclaimer/
Disclosure listed on the CorporateAds website
Source: CorporateAds
Filed Under: Business
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