{"id":35088,"date":"2025-03-27T12:30:00","date_gmt":"2025-03-27T12:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4651216_CN51216_0"},"modified":"2025-03-27T12:30:00","modified_gmt":"2025-03-27T12:30:00","slug":"massimo-group-reports-fiscal-year-end-2024-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=35088","title":{"rendered":"Massimo Group Reports Fiscal Year End 2024 Financial Results"},"content":{"rendered":"\n\n\n
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GARLAND, Texas<\/span><\/span>, March 27, 2025<\/span><\/span> \/PRNewswire\/ — Massimo Group<\/b> (NASDAQ: MAMO)<\/a> (“Massimo” or the “Company”), a manufacturer and distributor of powersports vehicles and pontoon boats, today released its financial results for the fourth quarter and the year ended Dec. 31, 2024<\/span>, noting revenue from sales of UTVs, ATVs and electric bikes increased by $4.1 million<\/span>, or 4.0%, from $103.3 million<\/span> in fiscal 2023 to $107.5 million<\/span> in fiscal 2024. As of Dec. 31, 2024<\/span>, Massimo reported a positive working capital of $19.2 million<\/span>, with an increase in net cash and cash equivalents of $9.4 million<\/span> for the year ended Dec. 31, 2024<\/span>.<\/p>\n

The increase in revenue was primarily attributed to Massimo’s expansion of product sales into large retail stores in the U.S., along with a shift in the Company’s sales strategy.<\/p>\n

Massimo Group, through its subsidiaries Massimo Motor Sports and Massimo Marine LLC, manufactures, imports and distributes a diversified and competitive portfolio of products including UTVs, ATVs, motorcycles, scooters, golf carts, tractors and recreational pontoon boats among other product lines designed for outdoor enthusiasts.<\/p>\n

David Shan<\/span>, CEO of Massimo Group, emphasized operational highlights including the below.<\/p>\n