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Massimo (MAMO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Massimo (MAMO) reported revenue of $12.7M for the first quarter 2026 (Q1 2026), -15% from a year earlier and -40% from the quarter before. Operating margin was -8.2%, net loss $1.0M (7.9% of revenue).
Massimo, Q1 2026: revenue $12.7M (-15% year over year), operating margin -8.2%, net loss $1.0M, operating cash flow −$1.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.7M | -40% | -15% |
| Operating profit | −$1.0M | -138% | — |
| Net earnings | −$1.0M | -151% | — |
| Operating cash flow | −$1.4M | -134% | — |
What changed
Revenue was $12.7M in Q1 2026, down 15% year over year and down 40% from the previous quarter. UTVs, ATVs and e-bikes was the largest line at 97% of revenue. UTVs, ATVs and e-bikes lost $3.1M year over year (down 20%), 141% of the total change.
Gross margin was 39.9%, up 11.6 points from Q1 2025. Operating costs exceeded revenue by $1.0M, an operating margin of -8.2%. Operating expenses fell 12% while revenue fell 15%. The quarter ended with a net loss of $1.0M, after a profit of $2.0M the previous quarter.
Operating cash flow was −$1.4M. Non-cash charges added back $39K of depreciation. Working capital and other items used $408K. Capital expenditures of $262K exceeded it, leaving free cash flow of −$1.6M.
Questions
What was Massimo's revenue in the first quarter 2026?
Massimo (MAMO) reported revenue of $12.7M for the first quarter 2026 (Q1 2026), -15% from a year earlier and -40% from the quarter before.
Was Massimo profitable in the first quarter 2026?
Operating loss was $1.0M (-8.2% of revenue) and net loss $1.0M.
Source: Massimo 10-Q on SEC EDGAR.