Massimo Group

Earnings data Q4 2023

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Massimo Group is an emerging growth company, which operates as a manufacturer and distributor of powersports vehicles and recreational watercraft. It offers farm and ranch tested utility UTV’s, recreational ATV’s, and Americana style mini-bikes, and pontoon boats. The company was founded by David Shan and Rod N. Santomassino on October 10, 2022 and is headquartered in Garland, TX.

Expects to Increase Assembly Efficiency by 50%, Reducing Manual Handling, Minimizing Labor, and Enhancing Worker Safety GARLAND, Texas , Dec. 23, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the successful ramp-up of its new assembly line, featuring cutting-edge robotic technology designed to streamline production and enhance quality control. This investment reinforces Massimo's commitment to meeting the needs of both its customers and investors as the company prepares for an impactful 2025.

Massimo Motor Enhances Production Efficiency with Advanced Robotic Technology; Launches New T-Boss 560L and 760L Models with Winter-Ready Features

Fully Enclosed Cabs Equipped with Heating and Air Conditioning Ensure Usability and Protection in all Weather Conditions GARLAND, Texas , Dec. 18, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the launch of the MVR HVAC Golf Cart and MVR HVAC Utility Carts, the latest additions to the popular MVR Series of electric carts. Designed to deliver exceptional comfort and performance, these models feature fully enclosed cabs equipped with heating and air conditioning, ensuring usability and protection in all weather conditions.

Massimo Motor Introduces MVR HVAC Golf Cart and Utility Carts: Revolutionizing Comfort and Functionality in Electric Carts

Vision Marine Technologies

Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - December 3, 2024) - Investorideas.com, a go-to investing platform covering electric vehicle stocks issues a snapshot on the future of the electric boating market and some of the partnerships moving the sector forward, featuring Vision Marine Technologies Inc. (NASDAQ: VMAR), a pioneer in electric marine propulsion. Read the full article on Investorideas.com https://www.investorideas.com/News/2024/renewable-energy/12030Electric-Boat.asp According to a recent study by Future Market Insights, "The global electric boats market is on a rapid growth trajectory, expected to expand at a Compound Annual Growth Rate (CAGR) of 10.4% from 2023 to 2033.

Riding the Wave of an Electric Boat Future- Collaborations Key to Success

Fully Integrated 30-foot Electric Pontoon Platform Designed for Commercial and Recreational Markets Showcases Commitment to Innovation and Sustainability GARLAND, Texas , Dec. 2, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the Company's marine division, Massimo Marine, entered into a partnership with Vision Marine Technologies Inc (Nasdaq: VMAR) ("Vision Marine"), a pioneer in electric marine propulsion. This collaboration will produce a fully integrated 30-foot electric pontoon platform designed for commercial and recreational markets.

Massimo Marine and Vision Marine Technologies Announce Production Partnership for First Commercial Electric Pontoon Platform

Industry-Leading Features Tailored to Meet the Increasing Demand for Eco-Friendly, Versatile Solutions for Recreation and Work GARLAND, Texas ,  Nov. 25, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the launch of its new MVR Series electric carts, featuring the MVR 2X Golf Cart and the MVR Cargo Max Utility Cart. These high-performance electric vehicles are tailored to meet the increasing demand for low-speed electric vehicles (LSVs) that offer versatility for both recreational and professional use.

Massimo Launches Electric MVR Series Golf and Utility Carts: Meeting the Growing Demand for Low-Speed Electric Vehicles

Sets a New Standard in the Industry for Comfort, Functionality, and Affordability in the Six-Seater UTV market GARLAND, Texas , Nov. 21, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the launch of its latest 2025 UTV model, the Buck 550-6 Crew, specifically designed to meet the needs of families and outdoor enthusiasts, or light-duty work around a property. The newly redesigned Buck 550-6 Crew UTV sets a new standard for comfort, functionality, and affordability in the six-seater UTV market.

Massimo Launches the All-New 2025 Buck 550-6 Crew UTV: Redefining Value in the Powersports Market

Expanded Massimo Lineup of UTVs, ATVs, Go-Karts, Golf Carts and Mini Bikes to be Available Online at Rural King's Website and in Select Stores Throughout 2025 GARLAND, Texas , Nov. 18, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the expansion of its successful retail partnership with Rural King, a leading farm and home store with locations across the U.S. After an outstanding year offering Massimo Motor's selection of go-karts to Rural King customers, both companies are excited to expand this partnership in 2025. The expanded program will introduce a wider range of Massimo products available both online and in-store, including UTVs, ATVs, go-karts, golf carts, and mini bikes.

Massimo Announces Expansion of Successful Partnership with Rural King for 2025

Year-to-Date 2024 Revenue Increases 20.8% YoY to $91.2 Million New Production, Product and Sales Initiatives Driving Motor Vehicle Growth GARLAND, Texas , Nov. 15, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, has reported its financial and operational results for the third quarter ended September 30, 2024. Key Financial Q3 2024 and Subsequent Operational Highlights and Business Updates ($ millions) Nine Month Comparison Q3 Comparison 9M 2024 9M 2023 $ ChangeYoY % ChangeYoY Q3 2024 Q3 2023 $ ChangeYoY % ChangeYoY Revenue $91.2 $75.5 $15.7 20.8 % $25.6 $29.9 ($4.3) (14.4 %) Gross Profit $28.9 $23.8 $5.1 21.6 % $7.0 $10.1 ($3.1) (30.9 %) Gross Margin 31.7 % 31.5 % 21 bps 27.2 % 33.6 %  (647) bps Net Income $3.5 $6.6 ($3.1) (46.9 %) ($2.5) $4.0 ($6.5) (163.2 %) 9M 2024 revenue increased 20.8% to $91.2 million compared to $75.5 million in 9M 2023.

Massimo Group Reports Third Quarter 2024 Financial Results

MAMO sees a 30.7% increase in non-GAAP operating income in Q3 2024. Healthcare segment revenues increase 11.5%, driving overall growth amid strategic shifts.

Masimo's Q3 Earnings Rise Y/Y, Healthcare Demand Drives Growth

Explore why Zacks has given Massimo a "Neutral" rating, being the first on Wall Street to initiate coverage on the stock. Uncover insights into Massimo's product launches, automation upgrades, and retail partnerships, as well as challenges it faces from supply chain risks and competitive pressures.

Zacks Initiates Coverage of Massimo With Neutral Recommendation

Strong Interest in Motor Sports Vehicles at Expo Highlights Strategic Business Expansion and Growth Opportunities in 2025 GARLAND, Texas , Oct. 24, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, made a notable impact at this year's Equip Exposition, the largest annual gathering for professionals in landscaping, hardscaping, and contracting, showcasing Massimo Motor's lineup of rugged, versatile vehicles. Every October, landscapers, hardscapers, manufacturers, contractors, and dealers travel to Louisville, Kentucky, to network with other professionals and to test-drive the latest products.

Massimo Demonstrates Innovation and Growth Potential at the 2024 Equip Expo in Louisville, KY

Fully Enclosed Cabin Provides All-Weather Protection for Work and Play GARLAND, Texas, Oct. 10, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the launch of a new T-Boss UTV series with Cab Enclosure, the best equipped and most value-packed UTVs in their class. The Massimo Motor T-Boss Series of UTVs is one of the most versatile on the market.

Massimo Launches New T-Boss UTV Series for the Winter Season

Customers Can Now Work and Play with the Company's Most Powerful and Versatile UTV GARLAND, Texas , Sept. 11, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the launch of the new T-Boss 1000 UTV, the best equipped and most value-packed UTV in its class.

Massimo Releases Feature-Rich T-Boss 1000 UTV

Rugged Two-Seater Go-Kart Attracted Strong Interest from North American Premier Retailers in the Farm Store Industry GARLAND, Texas , Sept. 5, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, showcased its new GKD 350 All-Terrain Go Kart at the recent Mid-States Fall Rendezvous 2024 for Mid-States Distributing Company, Inc. ("Mid-States"), held August 20-22 at the Phoenix Convention Center in Phoenix, Arizona.

Massimo Showcases Newly Introduced GKD 350 All-Terrain Go Kart at Mid-States Fall Rendezvous 2024

Q2 2024 Revenue Increases 32% YoY to $35.4 Million Q2 2024 Net Income Increases 36% YoY to $2.8 Million New Production, Distribution and Product Initiatives Fueling Rapid Growth GARLAND, Texas , Aug. 12, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, has reported its financial and operational results for the second quarter ended June 30, 2024. Key Financial Q2 2024 and Subsequent Operational Highlights and Business Updates ($ millions) Q2 Comparison Q2 2024 Q2 2023 $ Change YoY % Change YoY Revenue $35.4 $26.7 $8.7 32 % Gross Profit $11.5 $8.1 $3.4 42 % Gross Margin 32.5 % 30.3 % -- 217 bps Net Income $2.8 $2.1 $0.7 36 % Revenue increased 32% to $35.4 million in Q2 2024 compared to $26.7 million in Q2 2023.

Massimo Group Reports Second Quarter 2024 Financial Results

Rugged Two-Seater Vehicle Asked for from Big Retail Partners GARLAND, Texas , July 25, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the launch of its new GKD 350 All-Terrain Go Kart, combining iconic styling with powerful performance. This rugged two-seater go-kart is perfect for conquering any terrain.

Massimo Launches New GKD 350 All-Terrain Go Kart

Automation Expected to Improve Efficiency by 50% and Enhance Safety for Production of ATV and UTV Vehicles Lines GARLAND, Texas , July 17, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the adoption of a new automated vehicle assembly robot line. The robot line is expected to be installed in the coming weeks at its 376,000 square foot factory in Garland, Texas to support production of its ATV and UTV vehicles lines.

Massimo to Launch New Automated Vehicle Assembly Robot Line at Texas Factory

GARLAND, Texas , June 28, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the Company will ring the closing bell at the Nasdaq MarketSite in Times Square, New York on Monday, July 15, 2024. "We are excited and honored to ring the bell to commemorate our recent listing," said David Shan, Founder, Chairman & CEO of Massimo.

Massimo Group to Ring the Nasdaq Closing Bell on Monday, July 15, 2024

GARLAND, Texas , June 25, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, exhibited its Massimo Motor vehicles at the recent Outdoor Power Equipment Hoedown for Mid-States Distributing Company, Inc. ("Mid-States"), held at the Gaylord Opryland in Nashville, TN. Established in 1954, Mid-States Distributing Company is the leading Farm, Ranch and Home Retail Cooperative.

Massimo Showcases Motor Sports Vehicles at the Outdoor Power Equipment Hoedown at Gaylord Opryland

Management to Showcase its 376,000 sq. ft. Facility that Supports the Manufacture of its Motor and Marine Product Verticals GARLAND, Texas , June 18, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced will host an investor and analyst tours at its manufacturing facility and headquarters in Garland, Texas throughout June and July 2024.

Massimo Group to Host Investor and Analyst Tours at its Manufacturing Facility in Garland, Texas Throughout June and July 2024

Armlogi Holding Corp

Partnership Enhances Operational Capabilities and Efficiencies by Locating Delivery of Vehicle Components, Assembly and Shipping Closer to Order Destinations, and Complements Garland, TX Warehouse Expansion GARLAND, Texas , June 11, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced a strategic partnership agreement with Armlogi Holding Corp (NASDAQ: BTOC) ("Armalogi"), a U.S.-based warehousing and logistics service provider, to provide access to Armlogi warehousing facilities and tailored logistics services for fast order fulfillment of UTVS, ATVs, Go-Karts and Golf Carts. Armlogi is a fast-growing U.S.-based warehousing and logistics service provider that offers a comprehensive package of supply-chain solutions relating to warehouse management and order fulfillment.

Massimo Group Partners with Armlogi for Vehicle Assembly Locations and Delivery in Key Markets

Program to Test In-Store Pontoon Placement in Select Tractor Supply Locations Across the Northern Texas Region GARLAND, Texas , June 6, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced it has launched a Pontoon Boat Pilot Program with Tractor Supply Company, the largest rural lifestyle retailer in the United States, for in-store product placement in select Texas store locations. For more than 85 years, Tractor Supply Company has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts and all those who enjoy living Life Out Here.

Massimo Group Launches Pontoon Boat Pilot Program with Tractor Supply Company in Select Texas Store Locations

90,000 sq. ft. Warehouse Facility Expansion to Support Rapid Growth of Motor and Marine Product Verticals GARLAND, Texas , May 21, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced an expansion of its manufacturing facility in Garland, Texas, to support increased production across its motor and marine product verticals.

Massimo Group Announces Expansion of its Manufacturing Facility in Garland, Texas

Q1 2024 Revenue Increases 60% YoY to $30.2 Million Q1 2024 Net Income Increases 480% YoY to $3.2 Million New In-Store Agreements with Leading Global Retailers for Motor Vehicles Increased Massimo Motor Production Capacity to 3,000+ Vehicles a Month GARLAND, Texas , May 14, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, has reported its financial and operational results for the first quarter ended March 31, 2024. Key Financial Q1 2024 and Subsequent Operational Highlights and Business Updates ($ millions) Q1 Comparison Q1 2024 Q1 2023 $ Change YoY % Change YoY Revenue $30.2 $18.8 $11.3 60 % Gross Profit $10.5 $5.6 $4.8 86 % Gross Margin 34.7 % 29.8 % -- 500 bps Net Income $3.2 $0.5 $2.6 480 % Closed $5.85 million IPO listing on Nasdaq Capital Market under the ticker symbol "MAMO" on April 4, 2024.

Massimo Group Reports First Quarter 2024 Financial Results

Midwestern Retail to Feature Massimo UTV and ATV Products Online and In-Store GARLAND, Texas , April 30, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced it has entered into an ongoing agreement with Fleet Farm, a retailer serving active, outdoor, suburban and farm communities in the Midwest U.S., for its UTV, ATV, and youth series product lines to be sold in stores. With more than 65 years in business, Fleet Farm has become the Midwest's most trusted name in retail, with 49 locations across Iowa, Minnesota, North Dakota, South Dakota, and Wisconsin.

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