Massimo group reports first quarter 2024 financial results

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.
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