NXB on NYSE

NextBoat Inc.

NextBoat Inc. is an American ship and boat building and repairing company, incorporated in Nevada.1 It is headquartered in Wilmington, North Carolina.1 Its shares trade on NYSE under the symbol NXB.1

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Last updated Oct 20, 2026.

Overview

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  • TickerNXB on NYSE1
  • IndustryShip & Boat Building & Repairing1
  • HeadquartersWilmington, North Carolina1
  • Incorporated inNV2
  • Business address1701 Jel Wade Dr, Wilmington, Nc 284012
  • Filer category, Emerging growth company2

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By leveraging data-driven insights, the Company can refine inventory management, improve customer targeting, and maximize return on investment.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

9.6%Gross margin4
0.4%Operating margin4
-1.6%Net margin4
21.1%Revenue growth, 20254
-15.8%Return on equity4
0.01×Debt to equity4
-$1.3MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Pre-owned Boat Sales brought in 79% of the revenue NextBoat Inc. broke down this way in fiscal 2025.

  1. Pre-owned Boat Sales$101.7M479%up 20% from 2024
  2. New Boats Sales$14.5M411%up 32% from 2024
  3. Trade-in Boats$9.7M47%down 8% from 2024
  4. Finance Income$2.6M42%down 13% from 2024
  5. Service, Parts & Other Sales$1.0M41%up 385% from 2024
Products and services by year
Products and services20242025
Pre-owned Boat Sales$84.8M$101.7M
New Boats Sales$11.0M$14.5M
Trade-in Boats$10.6M$9.7M
Finance Income$3.0M$2.6M
Service, Parts & Other Sales$206.5K$1.0M

Business segments

Dealerships brought in 98% of the revenue NextBoat Inc. broke down this way in fiscal 2025.

  1. Dealerships$117.3M498%up 22% from 2024
  2. Financial Services$2.6M42%down 13% from 2024
Business segments by year
Business segments20242025
Dealerships$96.0M$117.3M
Financial Services$3.0M$2.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue90¢$108.4M
  • Selling, general and admin2¢$2.4M
  • Other costs7¢$8.9M
  • Income tax0¢$132.0K

Out of $119.9M in revenue.4 The company lost money this year.

Financial statements

Revenue4$119.9M in 2025+21% since 2024
0$50.0M$100.0M$150.0M2024: $99.0M$99.0M20242025: $119.9M$119.9M2025+21%
Gross profit4$11.5M in 2025+31% since 2024
0$5.0M$10.0M$15.0M2024: $8.8M$8.8M20242025: $11.5M$11.5M2025+31%
Operating income4$462.9K in 2025−83% since 2024
0$1.0M$2.0M$3.0M2024: $2.7M$2.7M20242025: $462.9K$462.9K2025−83%
Net income4-$1.9M in 2025
-$2.0M-$1.0M0$1.0M2024: $991.7K$991.7K20242025: -$1.9M-$1.9M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenues$119.9M$99.0M
Cost of revenues$108.4M$90.2M
Gross profit$11.5M$8.8M
Depreciation and amortization$310.9K$255.2K
Selling, general and administrative$2.4M$1.8M
Advertising and marketing$1.2M$489.0K
Professional services$459.0K$433.2K
Salaries and wages$5.8M$2.7M
Rent expenses$868.2K$477.4K
Total operating expenses$11.0M$6.1M
Income from operations$462.9K$2.7M
Interest expense, net-$2.3M-$1.6M
Other income-$185.5K$22.1K
Other expense-$19.9K-$91.9K
Total other expenses-$2.5M-$1.7M
Net (loss) income before income taxes-$2.0M$991.7K
Income tax benefit-$132.0K
Net (loss) income-$1.9M$991.7K
Basic net (loss) income per common shares-$0.09$0.05
Diluted net (loss) income per common shares-$0.09$0.05
Basic weighted average common shares outstanding20.5M shares20.0M shares
Diluted weighted average common shares outstanding20.5M shares20.0M shares

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What it owns

What NextBoat Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$837.9K4 Dec 31, 2025$621.9K4 Dec 31, 2024+34.7%
Property and equipment, net$823.2K4 Dec 31, 2025$461.7K4 Dec 31, 2024+78.3%
Operating-lease assets (leased space)$6.5M4 Dec 31, 2025$1.5M4 Dec 31, 2024+332.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$12.4M4 Dec 31, 2025$2.9M4 Dec 31, 2024+324.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$570.0K4 Dec 31, 2025$570.0K4 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$560.4K4 Dec 31, 2025
Accumulated amortization$94.9K4 Dec 31, 2025
Finite-lived intangibles, net$560.4K4 Dec 31, 2025

Inventory

ItemLatestA year beforeChange
Inventory, total$26.0M4 Dec 31, 2025$22.6M4 Dec 31, 2024+15.2%

Properties, in its own words

Our corporate headquarters are located at 1701 Jel Wade Dr, Wilmington NC, 28401. The Company leases the following locations:

Location · Purpose · Floor Space · Expiration Date

The rest of Item 2

Wilmington, North Carolina (Corporate Office) · Offices and Storage · 7,000 square feet · March 31, 2030

Fort Lauderdale, Florida · Offices · 1,125 square feet · October 31, 2035

Tampa, Florida · Offices · 1,500 square feet · March 31, 2027

Wilmington, North Carolina · Boat Storage · 11 Acres · August 31, 2029

Jupiter, Florida · 5,768 square feet · June 30, 2032

Stevensville, Maryland · Offices · 933 square feet · October 31, 2026

Stevensville, Maryland · Boat Repair Facility · March 31, 2027

Kent Island, Maryland · Boat Storage · 1.46 Acres · December 31, 2030

Wilmington, North Carolina · Boat Storage · 4.2 Acres · June 30, 2030

We believe that our facilities are adequate for our current operations.

Item 2 of the 10-K filed Mar 31, 2026.3

Leadership

Who has led NextBoat Inc., and when. Pick a name to see everywhere that person has worked.

Chair

  1. Jason Daniel Ruegg2025–now

President

  1. Jason Daniel Ruegg2025–now

Chief financial officer

  1. Chad Gregory Corbin2025–now

Chief operating officer

  1. Blake Randall Phillips2025–now
Board members and other officers (8)

Former names

  • OFF THE HOOK YS INC.May 15, 2025 to May 19, 20262

Timeline

  1. Oct 9, 20268-K Executive or director change17
  2. Sep 29, 20268-K Executive or director change; Regulation FD disclosure18
  3. Sep 4, 20268-K Regulation FD disclosure19
  4. Aug 28, 20268-K Executive or director change20
  5. Aug 18, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares21
  6. Aug 13, 20268-K Regulation FD disclosure22
  7. Aug 4, 20268-K Regulation FD disclosure23
  8. Jul 27, 20268-K Bylaws or fiscal year changed; Regulation FD disclosure24
  9. Jul 23, 20268-K Executive or director change25
  10. Jul 16, 20268-K Regulation FD disclosure26
  11. Jul 1, 20268-K Entered a material agreement; Regulation FD disclosure27
  12. Jun 29, 20268-K Regulation FD disclosure28

Calendar

When it reported results

  1. May 14, 2026Reported quarterly or annual results29
  2. Dec 15, 2025Reported quarterly or annual results30

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

115 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 44 major events, 40 insider forms, 27 other. The latest 20:

  1. Oct 9, 20268-K EDGAR
  2. Oct 8, 20263 EDGAR
  3. Sep 29, 20268-K EDGAR
  4. Sep 4, 20268-K EDGAR
  5. Aug 31, 2026DEF 14C EDGAR
  6. Aug 28, 2026S-1 EDGAR
  7. Aug 28, 20268-K EDGAR
  8. Aug 21, 2026PRE 14C EDGAR
  9. Aug 18, 20268-K EDGAR
  10. Aug 13, 202610-Q EDGAR
  11. Aug 13, 20268-K EDGAR
  12. Aug 4, 20268-K EDGAR
  13. Jul 27, 20268-K EDGAR
  14. Jul 23, 20263 EDGAR
  15. Jul 23, 20268-K EDGAR
  16. Jul 16, 20268-K EDGAR
  17. Jul 1, 20268-K EDGAR
  18. Jun 29, 20268-K/A EDGAR
  19. Jun 29, 20268-K EDGAR
  20. Jun 26, 20268-K EDGAR

The 115 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

18 open-market trades by officers, directors and large owners since October 2021: 15 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 15, 2026John BrianCEO and DirectorSale120,000$2.41$289.2KForm 4
May 15, 2026Ruegg Jason DanielPresident and ChairmanSale480,000$2.01$963.2KForm 4
May 15, 2026John BrianCEO and DirectorSale120,000$2.41$289.2KForm 4
Mar 31, 2026Ruegg Jason DanielPresident and ChairmanBuy10,000$2.03$20.3KForm 4
Mar 31, 2026SIMMONS ANDREW JAMESVice President and DirectorBuy10,000$2.01$20.1KForm 4
Mar 31, 2026John BrianCEO and DirectorBuy53,350$2.06$109.9KForm 4
Jan 16, 2026Gonnelli Robert RosarioDirectorBuy5,000$2.60$13.0KForm 4
Dec 12, 2025Gonnelli Robert RosarioDirectorBuy6,029$2.95$17.8KForm 4
Dec 11, 2025Gonnelli Robert RosarioDirectorBuy971$2.95$2.9KForm 4
Dec 10, 2025Gonnelli Robert RosarioDirectorBuy5,000$3.05$15.2KForm 4
Dec 10, 2025Gonnelli Robert RosarioDirectorBuy5,000$3.05$15.2KForm 4
Nov 28, 2025Gonnelli Robert RosarioDirectorBuy5,000$3.50$17.5KForm 4
Nov 26, 2025Gonnelli Robert RosarioDirectorBuy5,000$3.50$17.5KForm 4
Nov 21, 2025John BrianCEO and DirectorBuy10,000$3.14$31.4KForm 4
Nov 21, 2025SIMMONS ANDREW JAMESVice President and DirectorBuy15,873$3.19$50.6KForm 4
Nov 15, 2025Gonnelli Robert RosarioDirectorBuy10,000$3.40$34.0KForm 4
Nov 14, 2025Gonnelli Robert RosarioDirectorBuy125,000$4.00$500.0KForm 4
Nov 14, 2025John BrianCEO and DirectorBuy25,000$4.00$100.0KForm 4

From Forms 4 filed with the SEC.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Blake Phillips39$362.3K$1.3M31
2025Chad Corbin47$199.4K$717.9K31
2025Jason Ruegg36$300.0K$325.4K31
2025Brian S. John56$24.2K$40.2K31
2024Chief Operating Officer$300.0K31
2024FounderPresident and Chairman of the Board$300.0K31
2024Chief Financial Officer$175.0K31

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC86,059$197.9K0.0%+28,029
Geode Capital Management, LLC35,023$80.6K0.0%+6,071
UBS Group AG25,790$59.3K0.0%+9,590
Vanguard Fiduciary Trust Co19,601$45.1K0.0%No change
BlackRock, Inc.16,819$38.7K0.0%+8,946
Certuity, LLC11,060$25.4K0.0%No change
Northern Trust Corp10,532$24.2K0.0%New
Armstrong Advisory Group, Inc10,000$23.0K0.0%No change
Daytona Street Capital LLC3,960$8.3K0.0%−4,500
Osaic Holdings, Inc.1,300$3.0K0.0%New
Hrt Financial LP17,737$400.0%+5,200

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How NextBoat Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNextBoat Inc.1
  • CIK0002067767
  • Employer ID (EIN)33-26369923
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inNevada3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3730 Ship & Boat Building & Repairing1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address1701 Jel Wade Dr, Wilmington, NC 284011
  • Phone(910) 772 92771
  • Shares outstanding25,142,895 as of Aug 13, 20266
  • Public float$0 as of Jun 30, 20254
  • AuditorM&K CPAS, PLLC, The Woodlands, TX PCAOB ID 2738; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMay 15, 20251
  • Filings115 in all: 8-K (43), 4 (26), 3 (12), S-1/A (6), CORRESP (5), UPLOAD (5), 10-Q (3), 4/A (2)1
    All 19 form types

    DRS (2), S-1 (2), 10-K (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERT (1), DEF 14A (1), DEF 14C (1), FWP (1), PRE 14C (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) May 15, 2026
    Latest 8-K (8-K) Oct 9, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareOTHNYSE

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks NextBoat Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 32 risks under these headings, as written.3

  • 1. Risks Relating to Our Business
  • 2. Risks Related to the Industry and Competition
  • 3. Risks Related to Regulatory and Compliance Challenges
  • 4. Risks Related to Intellectual Property
  • Fluctuating interest rates may adversely impact OTH’s ability to procure financing.
  • Improper handling of inventory could cause overstocking or inventory shortages.
  • Our success depends to a significant extent on our manufacturers, and the loss of certain manufacturers could have an adverse effect on our business, financial condition, and results of operations.
  • Boat manufacturers exercise control over our business.
  • The failure to receive rebates and other manufacturer incentives on inventory purchases or retail sales could substantially reduce our margins.
  • We depend on our ability to attract and retain customers.
  • We depend on income from financing, insurance and extended service contracts.
  • Our operations are dependent upon key personnel and team members.
The other 22 risks
  • Customer trust and reputation are crucial in the yacht sales industry.
  • If we cannot dispose of pre-owned boats acquired through our trade-in or direct purchase processes at prices that allow us to recover its costs, our profitability will be adversely affected.
  • We rely on Floorplan Financing
  • The yacht and boat sales industry is highly sensitive to macroeconomic conditions and may experience severe fluctuations.
  • Our business, as well as the entire retail marine industry, is highly seasonal, with seasonality varying in different geographic markets.
  • We face intense competition.
  • Failure to implement strategies to enhance our performance could have a material adverse effect on our business and financial condition.
  • Demand in the powerboat industry is highly volatile.
  • General economic conditions, particularly in the U.S., affect our industry, demand for our products and our business, and results of operations.
  • Other recreational activities, poor industry perception, real or perceived human health or safety risks, changing consumer attitudes and environmental conditions can adversely affect the levels of boat purchases.
  • Policy changes affecting international trade could adversely impact the demand for our products and our competitive position.
  • We face substantial supplier and inventory acquisition risks.
  • We face marine asset and repossession risks
  • Manufacturer recall campaigns could adversely affect our business.
  • Climatic events may adversely impact our operations, disrupt the business of our third party vendors on whom we rely upon for products and services, and may not be adequately covered by our insurance.
  • Increases in fuel prices may adversely affect our business.
  • The availability of boat insurance is critical to our success.
  • We face expansion and acquisition risks
  • Risks Related to Regulatory & Compliance Challenges
  • Environmental and other regulatory issues impact our operations from time to time.
  • We have established online marketplaces and a failure in such online operations, security breaches and cybersecurity risks could disrupt our business and lead to reduced sales and growth prospects and reputational damage.
  • We may be exposed to lawsuits from time to time, which could affect us adversely.
  • A significant portion of our intellectual property is not protected through patents or formal copyright registration. As a result, we do not have the full benefit of patent or copyright laws to prevent others from replicating our products, product candidates, and brands.
  • Confidentiality agreements with employees and others may not adequately prevent disclosure of trade secrets and other proprietary information.
  • We may need to defend ourselves against patent, copyright or trademark infringement claims, which may be time-consuming and would cause us to incur substantial costs.
  • We may be unable to adequately maintain, enforce, and protect our intellectual property rights and we may be accused of infringing the intellectual property rights of third parties, which could have a material adverse effect on our business, financial condition, and operations.

Legal proceedings

We are involved in various legal proceedings and such legal proceedings involve inherent uncertainties including, but not limited to, court rulings, negotiations between the affected parties and other actions. Management performs an analysis of the probability and potential size of the loss and accrues a liability and/or discloses the necessary information as appropriate. Management does not believe that it is reasonably probable that the pending litigation, disputes or claims will have a material adverse effect on its financial condition, results of operations or cash flows. The outcome of any matter cannot be predicted with certainty, and an unfavorable resolution of one or more matters presently known or arising in the future could have a material adverse effect on the Company’s financial condition, liquidity or results of operations.

The opening of Item 3, Legal Proceedings.3

Sources

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