Massimo Group (MAMO) investor relations material

Executive summary

• Revenue for Q1 2026 was $12.7 million, down 14.7% year-over-year, mainly due to lower UTV, ATV, and e-bike sales and continued softness in Pontoon Boats, partially offset by the absence of a $1.0 million litigation-related sales reduction from Q1 2025.

• Net loss narrowed to $1.0 million from $2.1 million in Q1 2025, driven by improved gross margin and reduced operating expenses.

• Gross margin improved to 39.9% from 28.4% year-over-year, reflecting a favorable product mix, cost controls, and absence of litigation-related inventory repurchase costs.

Financial highlights

• Gross profit increased by $0.9 million to $5.1 million, despite lower sales volume.

• Selling expenses decreased by 32.4% to $1.3 million, mainly due to lower shipping and handling costs.

• General and administrative expenses remained stable at $4.2 million.

• Research and development expenses decreased by 25.3% to $0.6 million.

• Net cash used in operating activities was $1.4 million, with a $0.3 million outflow for investing and minimal financing outflows.

• Cash and cash equivalents at quarter-end were $4.1 million.

Outlook and guidance

• Management expects to continue supporting operational needs through organic cash flows for the next 12 months, while considering future capital raises.

• Focus remains on disciplined inventory management, cost control, and expansion of higher-margin sales channels.