Revenue RecognitionThe following table disaggregates the Company's revenue by major product type and geography:
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| Fiscal Year Ended June 30, 2025 |
| Malibu | | Saltwater Fishing | | Cobalt | | Consolidated |
| Revenue by product: | | | | | | | |
| Boat and trailer sales | $ | 296,980 | | | $ | 277,218 | | | $ | 212,128 | | | $ | 786,326 | |
| Part and other sales | 15,718 | | | 2,417 | | | 3,100 | | | 21,235 | |
| Net sales | $ | 312,698 | | | $ | 279,635 | | | $ | 215,228 | | | $ | 807,561 | |
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| Revenue by geography: | | | | | | | |
| North America | $ | 285,820 | | | $ | 265,250 | | | $ | 207,588 | | | $ | 758,658 | |
| International | 26,878 | | | 14,385 | | | 7,640 | | | 48,903 | |
| Net sales | $ | 312,698 | | | $ | 279,635 | | | $ | 215,228 | | | $ | 807,561 | |
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| Fiscal Year Ended June 30, 2024 |
| Malibu | | Saltwater Fishing | | Cobalt | | Consolidated |
| Revenue by product: | | | | | | | |
| Boat and trailer sales | $ | 264,811 | | | $ | 325,993 | | | $ | 219,188 | | | $ | 809,992 | |
| Part and other sales | 14,320 | | | 1,549 | | | 3,174 | | | 19,043 | |
| Net sales | $ | 279,131 | | | $ | 327,542 | | | $ | 222,362 | | | $ | 829,035 | |
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| Revenue by geography: | | | | | | | |
| North America | $ | 249,841 | | | $ | 314,014 | | | $ | 215,255 | | | $ | 779,110 | |
| International | 29,290 | | | 13,528 | | | 7,107 | | | 49,925 | |
| Net sales | $ | 279,131 | | | $ | 327,542 | | | $ | 222,362 | | | $ | 829,035 | |
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| Fiscal Year Ended June 30, 2023 |
| Malibu | | Saltwater Fishing | | Cobalt | | Consolidated |
| Revenue by product: | | | | | | | |
| Boat and trailer sales | $ | 618,001 | | | $ | 447,587 | | | $ | 299,028 | | | $ | 1,364,616 | |
| Part and other sales | 18,246 | | | 1,569 | | | 3,934 | | | 23,749 | |
| Net sales | $ | 636,247 | | | $ | 449,156 | | | $ | 302,962 | | | $ | 1,388,365 | |
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| Revenue by geography: | | | | | | | |
| North America | $ | 582,092 | | | $ | 440,449 | | | $ | 292,335 | | | $ | 1,314,876 | |
| International | 54,155 | | | 8,707 | | | 10,627 | | | 73,489 | |
| Net sales | $ | 636,247 | | | $ | 449,156 | | | $ | 302,962 | | | $ | 1,388,365 | |
Boat and Trailer Sales
Consists of sales of boats and trailers to the Company's dealer network, net of sales returns, discounts, rebates and free flooring incentives. Boat and trailer sales also includes optional boat features. Sales returns consist of boats returned by dealers under the Company's warranty program. Rebates, free flooring and discounts are incentives that the Company provides to its dealers based on sales of eligible products.
Part and Other Sales
Consists primarily of parts and accessories sales, royalty income and clothing sales. Parts and accessories sales include replacement and aftermarket boat parts and accessories sold to the Company's dealer network. Royalty income is earned from license agreements with various boat manufacturers, including Nautique, Chaparral, MasterCraft, and Tige related to the use of the Company's intellectual property.
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.