Massimo Group reports Q1 2024 revenue of $30.2M, up 60% YoY; net income $3.2M, up 480%

Massimo Group

2024-Q1 EPS reported $0.08 revenue$30,151,677

Revenue $30.2M (+60% YoY), net income $3.2M ($0.08 EPS) vs $0.5M ($0.01) in Q1 2023.
Gross margin expanded 500 bps to 34.7% due to lower freight costs and reduced returns.
UTV/ATV/e-bike segment revenue $28.7M (+74.1%); pontoon boat revenue fell 38.2% to $1.5M.
New in-store agreements with a global omnichannel retailer (1,300+ stores) and Fleet Farm; production capacity 3,000+ vehicles/month.
Closed $5.85M IPO on Nasdaq on April 4, 2024; cash was $0.2M at quarter end (pre-IPO).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Massimo Group reported first quarter ended March 31, 2024 results: revenue $30.2 million, net income $3.2 million, EPS $0.08 per basic and diluted share.

Period: first quarter ended March 31, 2024
Revenue: $30.2 million
Net income: $3.2 million
EPS: $0.08 per basic and diluted share
Result: reported results

Exact text from the filing

Massimo Group Reports First Quarter 2024 Financial Results Q1 2024 Revenue Increases 60% YoY to $30.2 Million Q1 2024 Net Income Increases 480% YoY to $3.2 Million

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Source: SEC EDGAR

accession 0001493152-24-019094

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