Filing Flows › NextBoat (NXB) › Q4 2025
NextBoat (NXB) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
NextBoat (NXB) reported revenue of $37.3M for the fourth quarter 2025 (Q4 2025), +25% from a year earlier and +55% from the quarter before. Operating margin was -4.8%, net loss $2.6M (7.1% of revenue).
NextBoat, Q4 2025: revenue $37.3M (+25% year over year), operating margin -4.8%, net loss $2.6M, operating cash flow −$33K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $37.3M | +55% | +25% |
| Operating profit | −$1.8M | -674% | — |
| Net earnings | −$2.6M | — | — |
| Operating cash flow | −$33K | — | — |
What changed
Revenue was $37.3M in Q4 2025, up 25% year over year and up 55% from the previous quarter. Pre-owned Boat Sales was the largest line at 89% of revenue.
Gross margin was 8.3%, up 2.1 points from a year earlier. Operating costs exceeded revenue by $1.8M, an operating margin of -4.8%. Operating expenses grew 175% against revenue growth of 25%. The fastest-growing cost line was Other operating costs (+262%). The quarter ended with a net loss of $2.6M, wider than the previous quarter's $67K loss.
Operating cash flow was −$33K. Non-cash charges added back $100K of depreciation and amortization. Working capital and other items added $2.5M. Capital expenditures of $375K exceeded it, leaving free cash flow of −$408K.
Questions
What was NextBoat's revenue in the fourth quarter 2025?
NextBoat (NXB) reported revenue of $37.3M for the fourth quarter 2025 (Q4 2025), +25% from a year earlier and +55% from the quarter before.
Was NextBoat profitable in the fourth quarter 2025?
Operating loss was $1.8M (-4.8% of revenue) and net loss $2.6M.
Source: NextBoat 10-K on SEC EDGAR.