Filing Flows › OneWater Marine (ONEW) › Q2 FY26 › vs Q1 FY26
OneWater Marine (ONEW) Q2 FY26 vs Q1 FY26 (quarter over quarter)
OneWater Marine's revenue rose $61.7M (+16%) from $381M in Q1 FY26 to $442M in Q2 FY26. The biggest changes: New boat +$38.8M (+17%); Pre-owned boat +$24.0M (+34%); Service, parts & other −$6.1M (-9%).
OneWater Marine, Q2 FY26: revenue $442M (-8% year over year), operating margin 1.7%, net loss $12.9M, operating cash flow $52.4M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Free cash flow margin | 11.3% | -20.6% | +31.9 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| New boat | $272M | $233M | $38.8M | +17% |
| Pre-owned boat | $94.4M | $70.4M | $24.0M | +34% |
| Service, parts & other | $61.9M | $68.0M | −$6.1M | -9% |
| Finance & insurance income | $14.0M | $8.9M | $5.1M | +58% |
| Revenue | $442M | $381M | $61.7M | +16% |
| Net loss | $12.9M | $7.7M | $5.2M | +67% |
| Costs & expenses | $455M | $402M | $53.5M | +13% |
| Operating costs | $435M | $386M | $48.9M | +13% |
| Interest & other, net | $15.0M | $15.9M | −$905K | -6% |
| Income tax | $5.5M | −$13.4M | $18.9M | — |
| Cost of revenue | $337M | $291M | $45.6M | +16% |
| SG&A | $85.7M | $81.3M | $4.3M | +5% |
| Other operating costs | $12.2M | $13.2M | −$985K | -7% |
| Operating cash sources | $65.3M | −$68.6M | $134M | — |
| Depreciation & amortization | $4.5M | $5.0M | −$537K | -11% |
| Share-based compensation | $2.8M | $2.1M | $669K | +31% |
| Working capital & other | $58.1M | −$75.7M | $134M | — |
| Net loss absorbed | $12.9M | $7.7M | $5.2M | +67% |
| Operating cash flow | $52.4M | −$76.3M | $129M | — |
| Free cash flow (OCF − capex) | $50.2M | −$78.2M | $128M | — |
| Capital expenditures | $2.3M | $1.9M | $323K | +17% |
Questions
How much did OneWater Marine's revenue grow quarter over quarter in Q2 FY26?
OneWater Marine's revenue rose $61.7M (+16%) from $381M in Q1 FY26 to $442M in Q2 FY26.
What drove OneWater Marine's revenue change in Q2 FY26?
New boat +$38.8M (+17%); Pre-owned boat +$24.0M (+34%); Service, parts & other −$6.1M (-9%).