Massimo Q2 2024: Revenue $35.4M (+32%), Net income $2.8M (+36%)

Massimo Group

2024-Q2 EPS reported $0.15 revenue$65,554,330

Revenue $35.4M (+32% YoY); net income $2.8M, EPS $0.07 vs $0.05 YoY.
Gross profit $11.5M (+42%), margin 32.5% (+217 bps).
UTV/ATV/e-bike revenue up 53% to $34.2M; pontoon boat revenue down 73% to $1.2M.
Expanding capacity: 90k sq ft facility expansion, new automated robot assembly line; partnerships with Armlogi, Fleet Farm, and global retailer.
Closed $5.85M IPO in April 2024; net cash used in operations $7.1M in H1 2024 for working capital.

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