Malibu Boats Files 2024 10-K
Ticker: MBUU · Form: 10-K · Filed: Aug 29, 2024 · CIK: 1590976
Sentiment: neutral
Topics: 10-K, annual-report, manufacturing
TL;DR
Malibu Boats 2024 10-K is in. Check financials for FY24.
AI Summary
Malibu Boats, Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its operations in the boat building industry. The company's principal executive offices are located at 5075 Kimberly Way, Loudon, TN 37774. The filing covers the fiscal years 2024, 2023, and 2022, providing financial data and operational details for these periods.
Why It Matters
This filing provides a comprehensive overview of Malibu Boats' financial performance and business operations for the fiscal year 2024, crucial for investors and analysts assessing the company's health and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not contain immediate red flags or significant new risks.
Key Numbers
- 2024 — Fiscal Year (Reporting period for the 10-K)
- 2023 — Fiscal Year (Comparative period)
- 2022 — Fiscal Year (Comparative period)
Key Players & Entities
- MALIBU BOATS, INC. (company) — Filer
- 0001590976-24-000073 (filing_id) — Accession Number
- 20240630 (date) — Fiscal Year End
- 5075 KIMBERLY WAY, LOUDON, TN 37774 (address) — Business Address
- 865-458-5478 (phone) — Business Phone
FAQ
What were Malibu Boats' total revenues for the fiscal year ending June 30, 2024?
The filing indicates the reporting period is for the fiscal year ending June 30, 2024, but specific revenue figures are not detailed in this header information.
What is Malibu Boats' primary business activity?
Malibu Boats, Inc. is in the 'SHIP & BOAT BUILDING & REPAIRING' industry, SIC code 3730.
Where is Malibu Boats, Inc. headquartered?
Malibu Boats, Inc. is headquartered at 5075 Kimberly Way, Loudon, TN 37774.
What is the SEC file number for Malibu Boats?
The SEC file number for Malibu Boats is 001-36290.
When was the company formerly known as Malibu Boats, Inc. last known by that name?
The company's former name was Malibu Boats, Inc., and the date of name change was November 4, 2013.
Filing Stats: 4,569 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-08-29 08:56:02
Key Financial Figures
- $0.01 M — stered Class A Common Stock, par value $0.01 MBUU Nasdaq Global Select Market Indica
- $0.01 — trant's Class A common stock, par value $0.01 per share, and Class B common stock, pa
- $0 — re, and Class B common stock, par value $0.01, as of August 23, 2024 was 20,012,69
- $15.8 billion — powerboats in the United States totaled $15.8 billion. Of the recreational powerboat categori
- $12.9 billion — senting an addressable market of nearly $12.9 billion in retail sales through our Malibu, Axi
- $80 — ) Description Malibu Malibu 12 20'-26' $80-$300 Malibu targets consumers seeking a
- $300 M — scription Malibu Malibu 12 20'-26' $80-$300 Malibu targets consumers seeking a premiu
- $175 — ls in the M Series. Axis 7 20'-25' $80-$175 Axis was formed to target a younger dem
- $130 — Saltwater Fishing Pursuit 16 25'-46' $130-$1,400 Pursuit is a premium brand of sa
- $1,400 — ltwater Fishing Pursuit 16 25'-46' $130-$1,400 Pursuit is a premium brand of saltwater
- $60 — luxury entertainment. Cobia 11 21'-34' $60-$500 Cobia models consist of center con
- $500 — ry entertainment. Cobia 11 21'-34' $60-$500 Cobia models consist of center console
- $250 — and boaters. Pathfinder 8 22'-27' $60-$250 Pathfinder provides the most versatile
Filing Documents
- mbuu-20240630.htm (10-K) — 2229KB
- fy2024-exhibit41.htm (EX-4.1) — 38KB
- fy2024-exhibit1018.htm (EX-10.18) — 93KB
- fy2024-exhibit191.htm (EX-19.1) — 66KB
- fy2024-exhibit211.htm (EX-21.1) — 7KB
- fy2024-ex231auditorconsent.htm (EX-23.1) — 2KB
- fy2024-exhibit311.htm (EX-31.1) — 14KB
- fy2024-exhibit312.htm (EX-31.2) — 14KB
- fy2024-exhibit321.htm (EX-32.1) — 7KB
- fy2024-exhibit971.htm (EX-97.1) — 16KB
- mbuu-20240630_g1.jpg (GRAPHIC) — 18KB
- mbuu-20240630_g2.jpg (GRAPHIC) — 89KB
- mbuu-20240630_g3.jpg (GRAPHIC) — 38KB
- 0001590976-24-000073.txt ( ) — 11250KB
- mbuu-20240630.xsd (EX-101.SCH) — 67KB
- mbuu-20240630_cal.xml (EX-101.CAL) — 98KB
- mbuu-20240630_def.xml (EX-101.DEF) — 338KB
- mbuu-20240630_lab.xml (EX-101.LAB) — 848KB
- mbuu-20240630_pre.xml (EX-101.PRE) — 604KB
- mbuu-20240630_htm.xml (XML) — 1576KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 14 Item 1B. Unresolved Staff Comments 32 Item 1C. C ybersecu rity 32 Item 2.
Properties
Properties 33 Item 3.
Legal Proceedings
Legal Proceedings 34 Item 4. Mine Safety Disclosures 34 PART II 35 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 35 Item 6. [RESERVED] 37 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 58 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 59 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 101 Item 9A.
Controls and Procedures
Controls and Procedures 101 Item 9B. Other Information 101 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 101 PART III 102 Item 10. Directors, Executive Officers and Corporate Governance 102 Item 11.
Executive Compensation
Executive Compensation 102 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 102 Item 13. Certain Relationships and Related Transactions, and Director Independence 102 Item 14. Principal Accountant Fees and Services 102 PART IV Item 15. Exhibits, Financial Statement Schedules 103 Item 16. Form 10-K Summary 106
SIGNATURES
SIGNATURES 107 i Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. All statements other than statements of historical facts contained in this Form 10-K are forward-looking statements, including statements regarding demand for our products and expected industry trends, our business strategy and plans, our prospective products or products under development, our vertical integration initiatives, our acquisition strategy and management's objectives for future operations. In particular, many of the statements under the headings "Item 1A. Risk Factors," "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Item 1. Business" constitute forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," the negative of these terms, or by other similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions, involving known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such factors include, but are not limited to: our ability to accurately forecast demand for our products; our large fixed-cost base; our ability to execute our manufacturing strategy; increases in the cost of, or unavailability of, raw materials, component parts and transportation costs; disruptions in our suppliers' operations; our reliance on third-party suppliers for raw materials and components; our reliance on certain suppliers for our engines and outboar
Business
Item 1. Business Unless otherwise expressly indicated or the context otherwise requires, in this Annual Report on Form 10-K: We use the terms "Malibu Boats," the "Company," "we," "us," "our" or similar references to refer (1) prior to the consummation of our initial public offering, or "IPO" on February 5, 2014, to Malibu Boats Holdings, LLC, or the LLC, and its consolidated subsidiaries and (2) after our IPO, to Malibu Boats, Inc. and its consolidated subsidiaries; We use the term "Boats, LLC" to refer to the LLC's subsidiary Malibu Boats, LLC; We refer to the owners of membership interests in the LLC immediately prior to the consummation of the IPO, collectively, as our "pre-IPO owners"; We refer to owners of membership interests in the LLC (the "LLC Units"), collectively, as our "LLC members"; References to "fiscal year" refer to the fiscal year of Malibu Boats, which ends on June 30 of each year; We refer to our Malibu branded boats as "Malibu", our Axis Wake Research branded boats as "Axis", our Pursuit branded boats as "Pursuit", our Maverick, Cobia, Pathfinder and Hewes branded boats as "Maverick Boat Group", and our Cobalt branded boats as "Cobalt"; We use the term "recreational powerboat industry" to refer to our industry group, which includes performance sport boats, sterndrive and outboard boats; We use the term "performance sport boat category" to refer to the industry category, consisting primarily of fiberglass boats equipped with inboard propulsion and ranging from 19 feet to 26 feet in length, which we believe most closely corresponds to (1) the inboard ski/wakeboard category, as defined and tracked by the National Marine Manufacturers Association, or NMMA, and (2) the inboard ski boat category, as defined and tracked by Statistical Surveys, Inc., or SSI; We use the terms "sterndrive" and "outboard" to refer to the industry category, consisting primarily of sterndrive and outboard boats ranging from 20 feet to 40 feet, which most closely co