Massimo Group (MAMO) investor relations material

Executive summary

• Revenue for the nine months ended September 30, 2025, declined 44.3% year-over-year to $50.8 million, primarily due to reduced consumer spending, high inflation, and significant tariff-related disruptions impacting big-box customer orders.

• Net loss for the nine months was $0.48 million, compared to net income of $3.5 million in the prior year period, reflecting lower sales and gross profit despite cost controls.

• Gross profit margin improved to 35.9% from 31.7% year-over-year, driven by higher sales prices and cost control, even as gross profit dollars fell 36.9%.

• The company achieved a net profit of $1.5 million in Q3 2025, reversing a $2.5 million loss in Q3 2024, as operating expenses declined and gross margin improved.

Financial highlights

• Q3 2025 revenue was $17.0 million, down 30.7% from Q3 2024; gross profit was $7.1 million, up 2.6% year-over-year, with gross margin rising to 42.0%.

• Selling expenses fell 55.8% to $1.2 million in Q3 2025, and general and administrative expenses decreased 12.8% to $3.4 million.

• For the nine months, selling expenses dropped 34.6% to $5.2 million, and G&A expenses were flat at $12.0 million.

• Cash and cash equivalents at September 30, 2025, were $2.6 million, with positive working capital of $17.8 million.

• Net cash used in operating activities was $4.1 million for the nine months, up from $2.4 million in the prior year.

Outlook and guidance

• Management expects continued challenges from inflation, high interest rates, and tariff uncertainty, but is confident in meeting operational needs through internal cash flows.

• Strategic partnership with a Vietnamese supplier was announced to diversify production and support electric vehicle growth.

• The board approved Bitcoin as part of the long-term treasury reserve strategy, to be funded from operating cash flow.