Off The Hook Ys Reports Record Revenue and Unit Sales in 2025

Boat dealer highlights IPO, expanded financing, and acquisition of Apex Marine Group as key milestones.

Mar. 31, 2026 at 12:06am

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A highly reflective, chrome-plated boat propeller resting on a plain white background, conveying the precision and engineering behind Off The Hook Ys' pre-owned boat business.A gleaming boat propeller symbolizes the technological sophistication and operational excellence driving Off The Hook Ys' growth in the pre-owned boat market.Today in Tampa

Off The Hook Ys, a leading pre-owned boat dealer, reported record revenue of $119.9 million and unit sales of 426 boats in fiscal year 2025, representing growth of over 21% and 32% respectively. The company highlighted its November 2025 IPO, which strengthened its balance sheet and access to capital, as well as the expansion of its inventory floor plan financing facility to $60 million. Off The Hook also announced the acquisition of Apex Marine Group, a South Florida service, storage, and sales organization, which the company says will reduce reliance on third-party providers, accelerate turnaround time, and improve cost control.

Why it matters

Off The Hook Ys' strong financial performance and strategic initiatives demonstrate the company's ability to capitalize on growth opportunities in the pre-owned boat market. The acquisition of Apex Marine Group in particular is expected to vertically integrate key services and enhance operational efficiencies. As the company continues to expand its geographic footprint and technological capabilities, it is positioning itself as a leader in the consolidating marine industry.

The details

Off The Hook Ys reported record revenue of $119.9 million in fiscal year 2025, up 21.1% from $99 million the prior year. Unit sales grew 32% to 426 boats. The company attributed the gains to improvements in broker productivity, inventory availability, and brokerage operations. Gross profit increased 30.6% to $11.5 million, with gross margin improving about 70 basis points to 9.6% due to stronger purchasing discipline and enhancements to inventory sourcing. However, the company reported a net loss of $1.5 million for the year as operating expenses rose, reflecting marketing and infrastructure investments following the IPO, as well as $1.8 million in stock-based compensation. Off The Hook ended the year with approximately $12.4 million in cash and an expanded $60 million inventory floor plan financing facility, more than double the pre-IPO level.

  • Off The Hook Ys held its IPO in November 2025.
  • The company expanded its inventory floor plan financing facility to approximately $60 million in 2025, more than double the pre-IPO level of roughly $25 million.

The players

Off The Hook Ys

A leading pre-owned boat dealer that specializes in the buying, selling, and wholesaling of yachts and boats. The company was founded in 2012 by Jason Ruegg and has grown to become one of the largest marine wholesalers in the industry.

Jason Ruegg

The founder and president of Off The Hook Ys.

Brian John

The chief executive officer of Off The Hook Ys.

Chad Corbin

The chief financial officer of Off The Hook Ys.

Apex Marine Group

A South Florida-based service, storage, and sales organization that Off The Hook Ys has agreed to acquire.

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What’s next

For 2026, management has raised revenue guidance to $150 million to $155 million. The company also plans to continue expanding its geographic footprint, with a focus on the West Coast of Florida, the Northeast, and international markets.

The takeaway

Off The Hook Ys' strong financial performance, strategic initiatives, and continued growth plans position the company as a leader in the consolidating pre-owned boat market. The acquisition of Apex Marine Group is expected to enhance operational efficiencies and reduce reliance on third-party providers, further strengthening Off The Hook's competitive advantage.