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.

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.

Massimo Group Secures New Distribution Partnership with Fleet Farm, the Midwest's Premier Outdoor Retailer

Mini Tractor and Mini 125 Go Kart to be Eligible for Sale in a Major U.S. Retailer in its 1,300 Stores Across 13 States GARLAND, Texas , April 24, 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 national agreement with a global omnichannel retailer for its youth series Mini Tractor and Mini 125 Go Kart to be sold in stores. The retailer's online marketplace currently features over 100 Massimo products including the Mini Tractor and Mini 125 Go Kart in addition to those from Massimo's other product lines.

Massimo Group Expands Partnership with Global Omnichannel Retailer for Youth Series Vehicles

ATIF Holdings Ltd

IRVINE, Calif. , April 17, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO), a company coached by ATIF Holdings Limited (NASDAQ: ATIF, hereinafter referred to as "ATIF"), announces its fiscal year 2023 financial results following a $5.85 million initial public offering.

Massimo Reported 2023 Financial Results

FY 2023 Revenues up 32.9% to $115.0 Million on Strong Sales of Powersports Vehicles and Pontoon Boats FY 2023 Gross Margin Grew 550 basis points to 31.2% FY 2023 Net Income up 150% to $10.4 Million Closed $5.85 Million Initial Public Offering, Began Trading on Nasdaq Under Ticker Symbol "MAMO" GARLAND, Texas , April 16, 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 fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter and 2024 Operational Highlights Closed $5.85 million IPO listing on Nasdaq Capital Market under the ticker symbol "MAMO.

Massimo Group Reports Fiscal Year 2023 Financial Results

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Three IPOs priced in the first week of April, led by a sizable biotech. Two sizable listings are currently scheduled for the week ahead, although smaller issuers may join the calendar throughout the week.

U.S. IPO Weekly Recap: April IPO Market Gets A Boost From Large Launches And New Filings

GARLAND, Texas , April 4, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the closing of its initial public offering of 1,300,000 shares of its common stock at an initial public offering price of $4.50 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Massimo, were approximately $5.85 million.

Massimo Group Announces Closing of Initial Public Offering and Nasdaq Listing

Massimo Group is a profitable micro-IPO listing on NASDAQ with accelerated revenue growth and profitability. The company manufactures power sports vehicles and boats, and its CEO owns 34 million of the 41.3 million outstanding shares. Outstanding financial performance in Q3 and Q4 has likely been overlooked, leading to an opportunity for stealth buyers. EPS was $0.10 each in Q3 and Q4.

Massimo Group: A Profitable Micro IPO That's A Lottery Ticket With Odds In Your Favor

IRVINE, Calif. , April 2, 2024 /PRNewswire/ -- MASSIMO GROUP (NASDAQ: MAMO), hereinafter referred to as "MASSIMO", consulted by ATIF Holdings Limited (NASDAQ: ATIF, hereinafter referred to as "ATIF") made its initial public offering on the NASDAQ Exchange under the ticker symbol MAMO.

MASSIMO, consulted by ATIF, successfully listed on Nasdaq

GARLAND, Texas , April 2, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the pricing of its initial public offering of 1,300,000 shares of its common stock at a price of $4.50 per share. The gross proceeds to Massimo from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be $5.85 million.

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