Massimo group reports third quarter 2024 financial results

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.
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