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Massimo (MAMO) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Massimo (MAMO) Q2 2026 earnings results →
Q2 2026 Revenue down 21% year over year to $14.9M · 10¢ of every $1 of revenue kept as net profit · operating margin 11.1%
Massimo made $14.9M in Q2 2026 (-21% Y/Y): UTVs,ATVs and e-bikes $13.7M, Pontoon Boats $1.3M. Operating margin 11.1%, net earnings $1.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $14.9M in Q2 2026, down 21% year over year and up 17% from the previous quarter. UTVs,ATVs and e-bikes was the largest line at 92% of revenue. UTVs,ATVs and e-bikes lost $3.9M year over year (down 22%), 99% of the total change.
Gross margin was 48.8%, up 12.5 points from Q2 2025. Operating profit was $1.7M, a 11.1% margin (up 10.4 points year over year). Operating expenses fell 16% while revenue fell 21%. The fastest-growing cost line was Research & development (+100%). Net earnings were $1.5M, up 1770% year over year. The effective tax rate was 16.2%.
Operating cash flow was $1.3M, 90% of net earnings. Non-cash charges added back $66K of depreciation. Working capital and other items used $211K. Capital expenditures of $406K left free cash flow of $901K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $14.9M | -21% | 11.1% | $1.5M | $1.3M |
| Q1 2026 | 10-Q | May 15, 2026 | $12.7M | -15% | -8.2% | −$1.0M | −$1.4M |
| Q4 2025 | 10-K | Mar 31, 2026 | $21.0M | +16% | 13.1% | $2.0M | $4.0M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $17.0M | -34% | 10.5% | $1.5M | $633K |
| Q2 2025 | 10-Q | Aug 14, 2025 | $18.9M | -47% | 0.8% | $78K | −$1.4M |
| Q1 2025 | 10-Q | May 20, 2025 | $14.9M | -51% | -18.2% | −$2.1M | −$3.3M |
| Q4 2024 | 10-K | Mar 26, 2025 | $18.2M | -54% | -15.4% | −$1.7M | $9.1M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Massimo
Massimo Group is a U.S.-based provider of utility-focused powersports and recreational vehicles, serving rural, agricultural, and commercial customers through a nationwide distribution and service network that enables broad market coverage, efficient product delivery, and ongoing dealer and customer support. Our product portfolio includes utility terrain vehicles (“UTVs”), all-terrain vehicles (“ATVs”), golf carts, scooters, and pontoon boats. We are focused on transitioning the traditional powersports category toward utility-driven, all-weather mobility solutions designed for year-round use across agricultural, commercial and recreational applications.
In its own words, from its 10-K, filed Mar 31, 2026.
Massimo against its Miscellaneous Transportation Equipment peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MAMO Massimo | Q2 2026 | $14.9M | -21% | 11.1% |
| PII Polaris | Q3 2026 | $2.0B | +11% | 3.6% |
Source: Massimo 10-Q on SEC EDGAR · CIK 1952853 · Miscellaneous Transportation Equipment
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results