Off the Hook YS Inc (OTH) is a recreational marine company that buys, sells, and brokers new and pre-owned boats and yachts. Revenue comes from transactional boat sales, marine financing through its Azure Funding subsidiary, servicing and maintenance through OTH Yacht Services, and asset recovery and repossession services through Marine Asset Recovery. The company operates across multiple segments of the marine value chain, from retail and wholesale boat sales to in-house consumer lending targeting middle- to upper-income buyers of premium recreational vessels. As of December 31, 2025, OTH carried $25.3 million in floor plan notes payable, reflecting a heavily inventory-financed balance sheet. Working capital improved from negative $443,441 at December 31, 2024 to positive $9.4 million at December 31, 2025. The company held $12.4 million in cash as of December 31, 2025. OTH is expanding toward a target of 100 brokers and wholesalers by end of 2026 and is developing a warranty sales program as an additional revenue stream.

Revenue model

Transactional revenue from retail and wholesale boat and yacht sales, marine consumer loan origination and servicing fees through Azure Funding, fee-based marine servicing and maintenance through OTH Yacht Services, and asset recovery and repossession services through Marine Asset Recovery. A warranty sales program is in development as a future revenue stream.

Products and services

Pre-owned and new boat and yacht sales (retail and wholesale); marine consumer financing (Azure Funding); marine servicing, maintenance, detailing, and mechanical inspections (OTH Yacht Services); boat repossession and asset recovery for financial institutions (Marine Asset Recovery); warranty and after-sale services (in development).

Customers and end markets

Primary customers are middle- to upper-income individual buyers purchasing new or pre-owned recreational vessels for personal, non-commercial use. Azure Funding serves individual borrowers financing premium recreational vessels. Marine Asset Recovery serves financial institutions and lenders requiring boat repossession services.

Value-chain role

Vertically integrated marine dealer combining inventory acquisition, retail and wholesale sales, in-house consumer financing, servicing, and asset recovery. Repossessed vessels from Marine Asset Recovery feed back into OTH's resale inventory.

Geographic exposure

Operations referenced in the Southern District of Florida and Western District of Kentucky litigation disclosures. Specific store count and geographic footprint not disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-03-31

Industry: Ship & Boat Building & Repairing