Massimo Group to Host Investor and Analyst Tours at its Manufacturing Facility in Garland, Texas Throughout June and July 2024

Rhea-AI Summary

Massimo Group (NASDAQ: MAMO), a manufacturer of powersports vehicles and pontoon boats, announced investor and analyst tours at its 376,000 sq. ft. manufacturing facility in Garland, Texas, throughout June and July 2024. CEO David Shan and CFO Yunhao Chen will discuss the company's new distribution partnerships and Q1 2024 financials, highlighting a 60% YoY revenue increase to $30.2 million, an 86% gross profit increase to $10.5 million, a gross margin rise to 34.7%, and a 480% net income spike to $3.2 million. The facility has expanded by 90,000 sq. ft. to support increased Motor and Marine production, with 70% dedicated to Motor Sports and 30% to Marine. Most inventory is imported, assembled, and inspected on-site before shipment.

Positive

• Q1 2024 revenue increased 60% YoY to $30.2 million.
• Gross profit rose by 86% to $10.5 million in Q1 2024.
• Gross margin improved by 500 basis points to 34.7%.
• Net income surged by 480% to $3.2 million.
• Expansion of the manufacturing facility by 90,000 sq. ft.
• New distribution partnerships announced.
• Facility can ship most orders within three days.

Negative

• High reliance on imported inventory for assembly and shipment.
• Potential logistical challenges due to increased production demands.
• Costs associated with facility expansion and operational scaling.

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 Founder, Chairman & CEO David Shan and CFO Yunhao Chen will discuss the Company's recently announced distribution partnerships and First Quarter 2024 Financial Results that saw Q1 2024 year-over-year Revenue increase 60% to $30.2 million, Gross Profit increase 86% to $10.5 million, Gross Margin increase 500 basis points to 34.7%, and Net Income increase 480% to $3.2 million.

Mr. Shan and Dr. Chen will also be joined by other senior management team members for a tour of the company's 376,000 sq. ft. manufacturing facility Including the recent expansion to support increased production across its Motor and Marine product verticals.

The expansion added 90,000 sq. ft. to the existing facility. The Garland location will continue to manufacture its Pontoon Boats in its facility, of which about 70% is dedicated to Massimo Motor Sports and 30% to Massimo Marine. The facility expansion is the first in a series of expansion projects to accommodate the Company's growth initiatives.

In addition to serving as the manufacturing hub for Massimo's Pontoon Boats, the facility is outfitted to efficiently palletize and shrink-wrap ATVs and UTVs, enabling the shipment of most orders to stores or distributors within three days. The majority of the Company's inventory is directly imported from its manufacturer network to its Garland facility where they undergo assembly, accessorization, and inspection before shipment to a distributor or directly to the customer, except for its pontoon boats, which are wholly manufactured at the Garland facility.

The facility is featured in the Massimo overview video linked here.

Space is limited, and registration is required. Investors and analysts should contact MAMO@mzgroup.us or call Chris Tyson at (949) 491-8235 for more details and to register for the event.

Date & Time		Agenda
June & July, 2024		9:00 AM	Arrival & Coffee
9:00 a.m. CDT to 1:00 p.m. CDT		9:30 AM	Management Presentation and Q&A
		10:45 AM	Facility Tour
Location		12:15 PM	Lunch & Investor 1x1's
3101 W Miller Road		1:00 PM	Day Concludes
Garland, TX 75041

Massimo is conveniently located 30 minutes from Dallas Fort Worth International Airport (DFW).

About Massimo Group

Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009, Massimo Motor believes it offers some of the most value packed UTV's, off-road, and on-road vehicles in the industry. The company's product lines include a wide selection of farm and ranch tested utility UTVs, recreational ATVs, and Americana style mini-bikes. Massimo Marine manufacturers and sells Pontoon and Tritoon boats with a dedication to innovative design, quality craftsmanship, and great customer service. Massimo is also developing electric versions of UTVs, golf-carts and pontoon boats. The company's 376,000 square foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland.

For more information, visit massimomotor.com, massimomarine.com, and massimoelectric.com.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the use of proceeds thereof. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "seek," "will," "would," "could," "should," "continue," "contemplate," "plan," and other words and terms of similar meaning. These forward-looking statements include information concerning statements regarding future cash needs, future operations, business plans and future financial results; and any other statements that are not historical facts. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Massimo, including those set forth in the "Risk Factors" section of Massimo's Annual Report on Form 10-K filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company
Dr. Yunhao Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com

Investor Relations
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
MAMO@mzgroup.us

 

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/massimo-group-to-host-investor-and-analyst-tours-at-its-manufacturing-facility-in-garland-texas-throughout-june-and-july-2024-302173406.html

SOURCE Massimo Group

FAQ

What are the dates for the Massimo Group investor and analyst tours in 2024?

The tours will be held throughout June and July 2024.

Where is Massimo Group's manufacturing facility located?

The facility is located in Garland, Texas.

What is the size of Massimo Group's manufacturing facility?

The facility is 376,000 sq. ft. with a recent 90,000 sq. ft. expansion.

How much did Massimo Group's revenue increase in Q1 2024?

Revenue increased by 60% year-over-year to $30.2 million.

What is the stock symbol for Massimo Group?

The stock symbol is MAMO.

What was Massimo Group's net income for Q1 2024?

Net income increased by 480% to $3.2 million.

How does Massimo Group handle inventory and shipments?

Most inventory is imported, assembled, accessorized, and inspected at the Garland facility before shipment.