MasterCraft Boat Holdings, Inc. Segments Disclosure
14. SEGMENT INFORMATION
Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the CODM in making decisions on how to allocate resources and assess performance. For the year ended June 30, 2025, the Company’s CODM regularly assessed the operating performance of the Company’s boat brands under two operating and reportable segments:
Each segment distributes its products through its own independent dealer network. Each segment also has its own management structure which is responsible for the operations of the segment and is directly accountable to the CODM for the operating performance of the segment, which is regularly assessed by the CODM who allocates resources based on that performance.
The Company files a consolidated income tax return and does not allocate income taxes and other corporate-level expenses, including interest, to operating segments. All material corporate costs are included in the MasterCraft segment.
The Company’s CODM is the Chief Executive Officer. The CODM uses Adjusted EBITDA, a non-GAAP measure, in the annual budget and forecasting process. Subsequent to the process, the CODM considers forecast-to-actual variances to assess the performance of and allocate resources to the Company’s segments based on Adjusted EBITDA. Adjusted EBITDA excludes depreciation and amortization, share based compensation, senior leadership transition and organizational realignment costs, and business development consulting costs.
Selected financial information for the Company’s reportable segments was as follows:
|
|
For the Year Ended June 30, 2025 |
|
|||||||||
|
|
MasterCraft |
|
|
Pontoon |
|
|
Consolidated |
|
|||
Net sales |
|
$ |
240,763 |
|
|
$ |
43,440 |
|
|
$ |
284,203 |
|
Cost of sales |
|
|
183,180 |
|
|
|
44,158 |
|
|
|
227,338 |
|
Operating expenses(1) |
|
|
36,925 |
|
|
|
8,708 |
|
|
|
45,633 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|||
Depreciation and amortization |
|
|
5,888 |
|
|
|
3,691 |
|
|
|
9,579 |
|
Adjustment items(2) |
|
|
3,225 |
|
|
|
349 |
|
|
|
3,574 |
|
Adjusted EBITDA |
|
|
29,771 |
|
|
|
(5,386 |
) |
|
|
24,385 |
|
Less: Interest Expense |
|
|
|
|
|
|
|
|
(1,169 |
) |
||
Add: Interest Income |
|
|
|
|
|
|
|
|
3,472 |
|
||
Less: Depreciation and amortization |
|
|
|
|
|
|
|
|
(9,579 |
) |
||
Less: Share-based compensation |
|
|
|
|
|
|
|
|
(2,915 |
) |
||
Less: Senior leadership transition and organizational realignment costs |
|
|
|
|
|
|
|
|
(659 |
) |
||
Income before taxes |
|
|
|
|
|
|
|
|
13,535 |
|
||
|
|
|
|
|
|
|
|
|
|
|||
Purchases of property, plant and equipment |
|
|
7,219 |
|
|
|
1,979 |
|
|
|
9,198 |
|
|
|
For the Year Ended June 30, 2024 |
|
|||||||||
|
|
MasterCraft |
|
|
Pontoon |
|
|
Consolidated |
|
|||
Net sales |
|
$ |
262,736 |
|
|
$ |
59,615 |
|
|
$ |
322,351 |
|
Cost of sales |
|
|
197,622 |
|
|
|
53,119 |
|
|
|
250,741 |
|
Operating expenses(1) |
|
|
35,541 |
|
|
|
8,593 |
|
|
|
44,134 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|||
Depreciation and amortization |
|
|
5,109 |
|
|
|
3,266 |
|
|
|
8,375 |
|
Adjustment items(2) |
|
|
4,180 |
|
|
|
130 |
|
|
|
4,310 |
|
Adjusted EBITDA |
|
|
38,862 |
|
|
|
1,299 |
|
|
|
40,161 |
|
Less: Interest Expense |
|
|
|
|
|
|
|
|
(3,292 |
) |
||
Add: Interest Income |
|
|
|
|
|
|
|
|
5,789 |
|
||
Less: Depreciation and amortization |
|
|
|
|
|
|
|
|
(8,375 |
) |
||
Less: Share-based compensation |
|
|
|
|
|
|
|
|
(2,602 |
) |
||
Less: Senior leadership transition and organizational realignment costs |
|
|
|
|
|
|
|
|
(1,708 |
) |
||
Income before taxes |
|
|
|
|
|
|
|
|
29,973 |
|
||
|
|
|
|
|
|
|
|
|
|
|||
Purchases of property, plant and equipment |
|
|
7,912 |
|
|
|
2,613 |
|
|
|
10,525 |
|
|
|
For the Year Ended June 30, 2023 |
|
|||||||||
|
|
MasterCraft |
|
|
Pontoon |
|
|
Consolidated |
|
|||
Net sales |
|
$ |
468,656 |
|
|
$ |
141,247 |
|
|
$ |
609,903 |
|
Cost of sales |
|
|
328,547 |
|
|
|
112,617 |
|
|
|
441,164 |
|
Operating expenses(1) |
|
|
38,784 |
|
|
|
8,526 |
|
|
|
47,310 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|||
Depreciation and amortization |
|
|
5,555 |
|
|
|
2,841 |
|
|
|
8,396 |
|
Adjustment items(2) |
|
|
3,412 |
|
|
|
362 |
|
|
|
3,774 |
|
Adjusted EBITDA |
|
|
110,292 |
|
|
|
23,307 |
|
|
|
133,599 |
|
Less: Interest Expense |
|
|
|
|
|
|
|
|
(2,679 |
) |
||
Add: Interest Income |
|
|
|
|
|
|
|
|
3,351 |
|
||
Less: Depreciation and amortization |
|
|
|
|
|
|
|
|
(8,396 |
) |
||
Less: Share-based compensation |
|
|
|
|
|
|
|
|
(3,462 |
) |
||
Less: Business development consulting costs |
|
|
|
|
|
|
|
|
(312 |
) |
||
Income before taxes |
|
|
|
|
|
|
|
|
122,101 |
|
||
|
|
|
|
|
|
|
|
|
|
|||
Purchases of property, plant and equipment |
|
|
17,414 |
|
|
|
7,149 |
|
|
|
24,563 |
|
The following table presents total assets for the Company’s reportable segments as of June 30, 2025 and 2024.
|
|
June 30, 2025 |
|
|
June 30, 2024 |
|
||
Assets: |
|
|
|
|
|
|
||
MasterCraft |
|
$ |
213,942 |
|
|
$ |
233,088 |
|
Pontoon |
|
|
46,006 |
|
|
|
51,994 |
|
Assets associated with discontinued operations |
|
|
— |
|
|
|
32,902 |
|
Total assets |
|
$ |
259,948 |
|
|
$ |
317,984 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 27, 2025 | Showing above |
| 2024 | Aug 30, 2024 | |
| 2023 | Aug 30, 2023 | |
| 2022 | Sep 9, 2022 | |
| 2021 | Sep 2, 2021 | |
| 2020 | Sep 11, 2020 | |
| 2019 | Sep 13, 2019 | |
| 2018 | Sep 7, 2018 | |
| 2017 | Sep 8, 2017 | |
| 2016 | Sep 9, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.