NextBoat Inc. provided a business update on July 16, 2026, highlighting record transaction closings and quarterly sales during the second quarter of 2026. The company reported significant progress toward profitability, driven by continued expansion of its marketplace and investment in platform automation. Based on preliminary results, NextBoat expects to be at or near profitability for the second quarter, reflecting the resilience of its operating platform and disciplined growth execution.

Strategic Partnerships and Operational Growth

The company partnered with MarineMax as its preferred wholesale partner for pre-owned boats and yachts, while establishing a preferred finance and insurance relationship with Newcoast. NextBoat tripled its transaction closing team to meet record transaction demand and support continued growth. The organization grew by approximately 42% year-over-year, based on preliminary internal data, reflecting aggressive investment in growth and market expansion.

Financial and Operational Highlights

NextBoat grew transaction volume approximately 120% year-over-year across the NextBoat platform, based on preliminary unaudited internal data. The company successfully completed the first full quarter of ownership of APEX, with the business achieving profitability following integration and operational stabilization. Bellhart continued its operational turnaround, substantially reducing legacy inventory while positioning the business for renewed growth.

Technology and Platform Development

The company continued development of proprietary closing automation designed to streamline key transaction processes, improve the customer experience, and increase throughput per closer. NextBoat launched its new automated Broker Hiring Portal, enabling brokers to recruit and manage their own sales organizations while automatically administering team commissions and override structures. The company initiated full development of a centralized Business Development Center to improve customer engagement, lead management, sales conversion, and service quality.

Second Quarter Performance Summary

NextBoat expects to report its second quarter financial results on August 14, 2026. The company believes its continued investment in automation, proprietary software, and scalable operating infrastructure will support long-term growth while improving operating leverage as transaction volumes continue to increase.

NextBoat Inc. has entered a strategic partnership with MarineMax, Inc., establishing the AI-powered marine technology company as the preferred wholesale partner for the world's largest recreational boat and yacht retailer. The agreement, announced on July 1, 2026, routes a significant share of MarineMax's trade-in and pre-owned inventory through the NextBoat AI platform for evaluation, marketing, and sale to a nationwide network of wholesale buyers. This partnership is expected to accelerate the growth of NextBoat's marketplace, data, and financing businesses by leveraging MarineMax's extensive operations, which include over 120 locations worldwide and annual revenue exceeding $2.3 billion.

Strategic Integration and Platform Capabilities

The integration aims to modernize the fragmented wholesale process by replacing manual pricing and phone calls with artificial intelligence and real-time transaction data. MarineMax becomes the first enterprise dealer group to adopt the NextBoat platform at scale. The system is designed to improve pricing transparency, increase operational efficiency, and help dealers move inventory faster.

The NextBoat AI Platform provides several key functionalities:

Revenue Opportunities and Financial Services

Beyond transaction efficiency, the partnership creates long-term revenue opportunities through financing and insurance. NextBoat will utilize Newcoast, MarineMax's finance and insurance arm, to provide solutions for transactions originating on the platform. As transaction volume rises, the companies anticipate generating recurring insurance renewal revenue and additional financing income, potentially creating an annuity-like revenue stream.

Management Commentary

Jason Ruegg, Founder and Executive Chairman of NextBoat, stated that the adoption by the largest company in the industry serves as validation of the platform's technology. He noted that the partnership marks the beginning of enterprise-scale deployment, with every transaction offering opportunities for financing and insurance that could yield recurring revenue for years.

Kyle Langbehn, Executive Vice President and President of Retail Operations at MarineMax, emphasized that the integration of NextBoat's technology is expected to improve efficiency while maintaining service levels. He added that the collaboration with Newcoast is positioned to drive meaningful finance and insurance revenue through the industry's leading products.