Off The Hook Yachts | Investor Relations

Off The Hook Yachts Reports Fourth Quarter and Full-Year 2025 Financial and Operating Results

Record revenue of $119.9 million, up 21.1% YOY
Record 426 boats sold in 2025, up 33% YOY
Increased 2026 revenue guidance to $150-$155 million
Successfully completed IPO, strengthening balance sheet and liquidity

Wilmington, NC, March 30, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: “OTH”, or “Off the Hook Yachts”), a vertically integrated marine marketplace and the largest buyer and seller of used boats in the nation, today announced financial results for the year ended December 31, 2025. The Company will host a live conference call today at 4:30 P.M. EST.

“We achieved record revenue of $120 million, expanded our national broker network, and continued to build out the infrastructure that we believe positions the Company for continued double-digit growth. Our vertically integrated model-combining brokerage, wholesale inventory acquisition, financing through Azure Funding, and our growing premier brokerage division-continues to differentiate Off the Hook Yachts in the marine industry,” said Brian John, Chief Executive Officer (CEO) of Off The Hook Yachts.

“Despite a more cautious macro environment for discretionary purchases, the number of boats that we sold grew by more than 30% year-over-year and continued to strengthen our leading market position in the pre-owned segment, where we believe long-term demand remains strong. With expanded floorplan capacity, increased broker productivity, and a growing national footprint, we believe OTH is well-positioned to accelerate growth in 2026 and continue building one of the leading platforms in the recreational marine market,” added Mr. John.

2025 Fourth Quarter Highlights

  • Revenue increased 25.2% to $37.3 million, up from $29.8 million, in the same period of 2024
  • Record 117 boats sold during the quarter, up 62.5%, in the same period of 2024
  • Gross profit increased 63.2% to $3.1 million, up from $1.9 million, in the same period of 2024
  • Completed IPO in November 2025, raising approximately $13.4 million in net proceeds

2025 Full-Year Highlights

  • Record revenue of $119.9 million, up 21.1% compared to $99.0 million, in 2024
  • Record 426 total boats sold, up 32.7% year-over-year
  • Gross profit increased 30.6% to $11.5 million, up from $8.8 million, in 2024
    • Net loss of $1.47 million, compared to net income of $1.0 million, in 2024, primarily reflecting increased operating expenses associated with becoming a public company, including $1.8 million of stock-based compensation
  • Adjusted EBITDA of $0.5 million, compared to $1.2 million, in the same period of 2024
    • Working capital on December 31, 2025, improved to $9.4 million
    • Cash increased to $12.4 million on December 31, 2025, compared to $2.93 million on September 30, 2025.

2026 Full Year Guidance

For 2026, the Company expects annual revenue to be between $150 million and $155 million, an increase from the previous guidance of $140 million-$145 million.

Full-Year 2025 Financial Discussion

Revenue increased 21.1% to $119.9 million for the year ended December 31, 2025, compared to $99.0 million in 2024. The increase was primarily driven by a higher floorplan limit that allowed the Company to sustain greater utilization of the Company’s floorplan financing facility throughout the year. Average monthly utilization increased 78%, or $10 million, to $23.4 million in 2025. In addition, the launch of Autograph Yacht Group and the addition of new brokers increased the number of new and pre-owned boats sold in 2025. Pre-owned boat sales increased 20% to $101.7 million for the year ended December 31, 2025, compared to $84.8 million in 2024. The Company sold approximately 426 pre-owned boats in 2025, compared to 321 pre-owned boats in 2024. The average price per pre-owned boat sale transaction was $449,420 for the year ended December 31, 2025, and $509,694 for the year ended December 31, 2024. The Company sells a wide range of brands and sizes of pre-owned boats under different types of sales arrangements that include, trade-ins, brokerage and consignment, which often causes periodic and seasonal fluctuations in the average sales price.

New boat sales increased 32.0%, to $14.5 million in 2025, compared to $11.0 million, in 2024, reflecting increased marketing efforts and a more focused sales initiative for select new boat brands. The Company sold 21 new boats in 2025, compared to approximately 17 new boats, in the same period of 2024.

Revenue from finance-related activities through Azure Funding was $2.6 million, compared to

$3.0 million, in the same period of 2024. The decrease was primarily attributable to a higher mix of cash purchases among high-end buyers, as well as continued elevated marine loan interest rates relative to historical averages. Over 85% of these loans come from non-OTH brokers and dealers reflecting an opportunity for OTH to increase the attachment rate of Azure financing with each boat sale and thereby growing this high margin business internally.

Gross profit increased 30.6% to $11.5 million, compared to $8.8 million, in 2024. The increase was primarily driven by higher overall sales volume and continued improvements in inventory sourcing and purchasing strategies, particularly within the pre-owned boat segment. Gross profit as a percentage of sales increased by approximately 70 basis points to 9.6% in 2025, compared to 8.9%, in the same period in 2024. Pre-owned boat gross profit increased 32.1% to $8.4 million, compared to $6.3 million, in the same period in 2024, while new boat gross profit increased modestly to $0.8 million from $0.7 million, in the same period in 2024. Azure Finance related gross profit was $1.5 million, compared to $1.7 million, in the same period of 2024.

Operating expenses were $10.7 million for the year ended December 31, 2025, compared to $5.8 million, in 2024. The increase was driven by increased marketing investments and infrastructure investments to support the Company’s continued growth and expansion following its initial public offering, as well as $1.8 million of stock-based compensation recognized during the year. The Company expects operating expenses as a percentage of revenue to decline over time as it continues to scale the business and realize operating leverage that comes from the addition of high-margin businesses that are growing from a small base, like the Azure Finance division.

Interest expense related to floorplan financing increased to $1.9 million, compared to $1.1 million in the same period in 2024, reflecting increased utilization of the Company’s inventory financing facilities.

Net loss for 2025 was $1.6 million, compared to net income of $1.0 million, in the same period of 2024. The change was primarily driven by higher operating expenses associated with scaling the business and expenses related to becoming a public company.

Adjusted EBITDA was $0.5 million, compared to $1.2 million, in 2024, reflecting increased operating costs associated with the Company’s growth initiatives and public company infrastructure.

As of December 31, 2025, the Company had $12.4 million in cash, compared to $2.27 million on September 30, 2025.

Working capital improved to $9.4 million on December 31, 2025, compared to negative $0.4 million on December 31, 2024. The improvement was primarily driven by the successful completion of the Company’s initial public offering in November 2025, which generated approximately $13.4 million in cash proceeds, strengthening the Company’s liquidity position and balance sheet.

Total assets were $48.4 million on December 31, 2025, compared to $31.6 million on December 31, 2024. Total liabilities were $36.2 million, consisting primarily of $25.3 million in floorplan notes payable, as well as accounts payable, customer deposits, and operating lease liabilities.

The Company believes its current cash position, combined with operating cash flow and available inventory financing facilities, provides sufficient liquidity to support planned growth investments.

Fourth Quarter Financial Discussion

Fourth quarter revenues of $37.3 million, increased 25.2%, compared to fourth quarter revenues of $29.8 million, in 2024, this revenue increase was due to the increase in floor plan and the addition of Autograph Yachts. Revenue from arranging financing products, including financing, insurance and extended warranty contracts, to customers through various fourth-party financial institutions and insurance companies, was $0.820 million as compared to $0.845 million, in the same period of 2024.

We sold 62% more boats in the fourth quarter of 2025 selling 117 in the fourth quarter of 2025 versus 72 boats in the same period of 2024. We believe sales can continue to grow at a higher rate going forward due to an increased broker pool and a larger amount of capital to grow our floor plan and increase the number of boats we can transact.

The Company plans to increase the attachment rate of Azure financing with our boat sales and thereby growing the business internally.

Gross profit was $3.1 million compared to $1.9 million in the same period of 2024. Our gross profit as a percentage of sales increased by 20 basis points. Our boat sales gross profit increased $2.7 million which we believe results from our purchasing team’s skillful buying decisions for our pre-owned boat inventory.

Operating expenses totaled $4.9 million compared to $1.8 million in the same period of 2024. The increase in SG&A primarily reflects investments in go-to-market capacity and public company infrastructure to support substantially higher expected revenue over the next several years.

Floor plan interest expense was $0.578 million compared to $0.482 million for 2024.

Conference Call and Webcast

The Company will host an earnings conference call today, March 30, 2026, at 4:30 P.M. Eastern Time. To participate in the call, please dial (800) 715-9871 (domestic), or (646) 307-1963 (international). The conference passcode is 5863262. This call is being webcast and can be accessed using the conference passcode 5863262, on the Investor Relations section of the company’s website at the earnings call link., or on the company IR page at https://investor.offthehookyachts.com/. The online replay will be available following the call.

About Off The Hook Yachts Inc.

Founded in 2012, Off The Hook YS Inc. is a vertically integrated, marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generating platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section entitled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.

Contacts:

Company

Chad Corbin

Chief Financial Officer (CFO)

chadcorbin@offthehookys.com

Investor Relations

John Evans

Investor Relations

john@offthehookys.com

OFF THE HOOK YS INC.
Consolidated Balance Sheets as of December 31, 2025 and 2024

December 31, 2025 December 31, 2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 12,428,774 $ 2,927,126
Accounts receivable, net 269,938 104,317
Inventory 26,035,844 22,593,422
Prepaid expense 706,256 2,388,782
Private label receivable – 4,942
Other current assets 434,584 840,401
TOTAL CURRENT ASSETS 39,875,396 28,858,990
NON-CURRENT ASSETS
Property, plant and equipment, net 823,231 461,709
Other receivable 27,486 42,192
Private label receivable – 185,550
Due from related party 44,623 11,313
Right-of-use assets 6,516,415 1,505,986
Goodwill 570,000 570,000
Intangible assets, net 560,406 –
TOTAL NON-CURRENT ASSETS 8,542,161 2,776,750
TOTAL ASSETS $ 48,417,557 $ 31,635,740
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable $ 1,471,198 $ 962,725
Accrued liabilities 390,804 507,284
Lease liabilities, current 963,731 382,731
Line of credit – 2,833,400
Current portion of long-term debt 32,453 137,468
Due to related party 315,088 1,422,540
Customer deposits 1,210,447 2,350,219
Floor plan notes payable 25,312,694 20,595,517
Other current liabilities 773,821 110,547
TOTAL CURRENT LIABILITIES 30,470,236 29,302,431
LONG-TERM LIABILITIES
Long-term debt, noncurrent 62,003 229,295
Lease liabilities, noncurrent 5,650,165 1,136,624
TOTAL LONG-TERM LIABILITIES 5,712,168 1,365,919
TOTAL LIABILITIES 36,182,404 30,668,350
STOCKHOLDERS’ EQUITY
Common stock, with $0.001 par value, 100,000,000 number of common stock authorized, 24,020,000 and 20,000,000 shares of common stock issued and outstanding as of December 31, 2025 and 2024*, respectively 24,020 20,000
Additional paid-in capital 17,964,567 2,774,944
Common stock payable 350,000 –
Accumulated loss (6,103,434 ) (1,827,554 )
TOTAL STOCKHOLDERS’ EQUITY 12,235,153 967,390
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 48,417,557 $ 31,635,740


OFF THE HOOK YS INC.
Consolidated Statements of Operations for the Years Ended December 31, 2025, and 2024

For the years ended December 31,
2025 2024
Revenues $ 119,866,298 $ 98,995,562
Cost of revenues 108,400,082 90,214,652
Gross profit 11,466,216 8,780,910
Operating expenses:
Depreciation and amortization 310,871 255,240
Selling, general and administrative 2,427,881 1,752,325
Advertising and marketing 1,162,037 489,008
Professional services 459,010 433,207
Salaries and wages 5,775,259 2,689,843
Rent expenses 868,246 477,364
Total operating expenses 11,003,304 6,096,987
Income from operations 462,912 2,683,923
Other income (expenses):
Interest expense, net (2,261,241 ) (1,622,461 )
Other income 214,499 22,107
Other expense (19,922 ) (91,885 )
Total other expenses (2,066,664 ) (1,692,239 )
Net (loss) income before income taxes (1,603,752 ) 991,684
Income tax benefit (131,955 ) –
Net (loss) income $ (1,471,797 ) $ 991,684
Basic and diluted net (loss) income per common share $ (0.07 ) $ 0.05
Basic and diluted weighted average common share outstanding $ 20,509,356 $ 20,000,000


OFF THE HOOK YS INC.
Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, and 2024

For the years ended December 31,
2025 2024
Cash flows from operating activities:
Net (loss) income $ (1,471,797 ) $ 991,684
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization 310,871 255,240
Imputed interest – 40,746
Non-cash lease expense 84,112 8,302
Stock-based compensation 1,800,899 –
Non-cash income tax benefit
Changes in operating assets and liabilities:		 (132,911 )
Accounts receivable (165,621 ) 74,804
Private label receivable 190,492 1,412,228
Other receivable 14,706 90,034
Inventory (3,442,422 ) (10,036,610 )
Prepaid expense 1,682,526 4,755
Other current assets 405,817 (568,275 )
Due from related parties (33,310 ) (11,313 )
Accounts payable 508,473 740,541
Accrued liabilities 27,269 204,722
Customer deposits (1,139,772 ) (326,216 )
Other current liabilities 663,274 11,125
Net cash used in operating activities (697,394 ) (7,108,233 )
Cash flows from investing activities:
Capital expenditure of fixed assets (577,456 ) (25,012 )
Acquisition of intangible assets (172,432 ) –
Net cash used in investing activities (749,888 ) (25,012 )
Cash flows from financing activities:
Proceeds from line of credit 1,308,793 1,318,170
Payment to line of credit (4,142,193 ) (898,998 )
Member distribution (2,804,083 ) (736,289 )
Member contribution 2,644 920,969
Proceed from short-term loan payable – 22,188
Payment to short-term loan payable – (1,070,000 )
Proceed from floorplan notes payables 77,338,112 51,736,268
Payment to floor plan notes payable (72,620,935 ) (41,935,039 )
Proceed from long-term debt 59,429 2,820
Payment to long-term debt (331,736 ) (232,568 )
Proceed from related-party debt 2,917 1,346,771
Payment to related party debt (1,254,118 ) (2,068,552 )
Proceeds from issuance of common stock upon initial public offering 13,390,100
Net cash provided by financing activities 10,948,930 8,405,740
Net change in cash 9,501,648 1,272,495
Cash and cash equivalents, beginning of period 2,927,126 1,654,631


Non-GAAP Financial Information

To supplement OTH’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, OTH presents certain financial measures that are not prepared in accordance with GAAP, including adjusted EBITDA. These non-GAAP financial measures, which are defined below, should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similarly titled measures presented by other companies.

OTH is presenting these non-GAAP financial measures to assist investors in seeing OTH’s operating results through the eyes of management and because OTH believes that these measures provide a useful tool for investors to use in assessing OTH’s operating performance against prior period operating results and against business objectives. OTH uses non-GAAP financial measures to evaluate its operating results and for financial and operational decision-making.

The accompanying tables provide more detail on the GAAP financial measures that are most directly comparable to the non-GAAP financial measures described above and the related reconciliations between these financial measures.

Adjusted EBITDA

We define and calculate adjusted EBITDA as GAAP net income (loss) before interest income or expense, income tax (benefit) expense, depreciation and amortization, and further adjusted for the items as described in the reconciliation below.

These include, but are not limited to the following:

  • non-cash expenses, such as depreciation and amortization and stock-based compensation
  • interest expense and income tax expense or benefit

The following tables present a reconciliation of adjusted EBITDA to our net (loss) income, which is the most directly comparable GAAP measure for the periods presented. We believe this information will be useful for investors to facilitate comparisons of our operating performance and identify trends in our business.

Years Ended December 31,
Description 2025 2024 Change
Net (loss) income $ (1,471,797 ) $ 991,684 $ (2,463,481 )
Interest expense – other 21,570 – 21,570
Income tax benefit (131,955 ) – (131,955 )
Depreciation and amortization 310,871 255,240 55,631
Stock-based compensation 1,800,899 – 1,800,899
Adjusted EBITDA $ 529,588 $ 1,246,924 $ 717,336


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George Jousma

Independent Director

George Jousma, age 66, brings more than 45 years of executive experience representing the Italian yachting sector in the Americas. In 1994, Mr. Jousma became President of Allied Marine/Richard Bertram Yachts, where he expanded the business from a single yacht product line generating under $20 million in sales to a company of over 200 employees across nine locations, with revenues exceeding $200 million. 

During his 14-year tenure, Allied became one of the largest distributors of Azimut, Benetti, and Ferretti yachts in the Americas, ultimately leading to its acquisition by the Ferretti Group in 2008. That same year, Mr. Jousma founded Sanlorenzo of the Americas, serving as President and Chief Executive Officer for ten years and establishing Sanlorenzo as one of the leading motor yacht brands in the region.

 Mr. Jousma also served on the Board of Directors and as a two-term President of the International Yacht Brokers Association (IYBA), the largest professional association of its kind globally. He has been an active participant in the Marine Industries Association of South Florida (MIASF) and is a lifelong boater originally from the Midwestern United States.

Mary Reynolds

Independent Director

Mary Reynolds, age 41, has over 15 years of leadership experience in retail and commercial finance, with a focus on business development, process optimization, and strategic growth. Mrs. Reynolds currently serves as Digital Innovation Director at a Connecticut-based bank, where she leads cross-functional teams in delivering technology-driven financial solutions. 

Previously, Mrs. Reynolds led marine operations at a top-performing national bank, supporting over $500 million in loan originations in under two years while managing federal and state regulatory audits. 

From November 2024 to May 2025, she served as Vice President of Consumer Lending at The Washington Trust Company. From July 2020 to August 2023, Mrs. Reynolds served as Chief Operating Officer of LV/Bank of Clark and later as Senior Vice President, Head of Operations at LV/Axos Bank of LaVictoire Finance.

Jim Seagrave

Independent Director

Jim Segrave, age 54, is the Founder, Chairman, and Chief Executive Officer of flyExclusive, one of North America’s largest and most innovative private jet operators. Founded in 2015, flyExclusive operates a fleet of over 90 light, mid, and super-midsize jets, employs nearly 800 professionals, and generated estimated annual revenues exceeding $350 million in 2024.

 In December 2023, flyExclusive (NYSE: FLYX) completed its public listing on the New York Stock Exchange. Mr. Segrave previously founded Segrave Aviation, Inc., a successful aircraft charter company sold to Delta Air Lines in 2010, which became Delta Private Jets. He also founded LGM Ventures, LLC, which operates fixed-base operations (FBOs) at Eastern North Carolina airports, the largest daycare center in Kinston, and a restaurant and bar in Atlantic Beach. Mr. Segrave has been named to the North Carolina Power List of Most Influential Leaders for the past three years.

 In 2024, he received the Boy Scouts Distinguished Citizen Award and was awarded the Key to the City by the Mayor. He currently serves on the Board of Directors of Quality Equipment, which owns and operates 38 John Deere dealerships, and as Vice Chairman of the Board of Directors of L. Harvey & Son, one of North Carolina’s oldest privately held businesses, founded in 1871. Mr. Segrave is also a member of the Board of Trustees at East Carolina University, the Embry-Riddle Aeronautical University Industrial Advisory Board, and the National Business Aviation Association (NBAA) Leadership Council.

Mike Kosloske

Independent Director

Mike Kosloske, age 61, is a third-generation insurance industry professional with a long-standing track record in executive leadership and public company governance.

 He is the founder of Health Insurance Innovations, Inc. (HIIQ), a health insurance technology company that completed its initial public offering on Nasdaq in February 2013. Mr. Kosloske served as Chief Executive Officer of HIIQ, which was recognized as the #1 Growth Company on Nasdaq in 2016, 2017, and 2018. In 2013, he was a finalist for the Ernst & Young Entrepreneur of the Year award. HIIQ was acquired by Madison Dearborn Partners in 2019. Mr. Kosloske previously served on the Board of Directors for St. Joseph’s Hospitals Foundation (2016 – 2025) and currently serves on the Board of Directors for Seminole Boosters (2019 – Present). 

He is also Managing Partner of Future Labs Capital, a firm focused on funding and consulting for MIT-affiliated companies in artificial intelligence, machine learning, and quantum computing (2024 – Present).

Andrew Simmons

Executive Vice President

Andrew Simmons, age 37, combines over 19 years of experience in senior sales and marketing leadership across the marine and automotive industries. Previously, he had been involved in multiple ventures within these sectors, holding positions including Founder, Partner, and President of Sales. Mr. Simmons was the Founder and Partner of American Yacht Group, one of the United States’ largest new yacht dealerships, generating over $100 million in annual sales since its inception in 2019. 

His success at American Yacht Group contributed to over 50% growth in annual sales for HCB Yachts. Most recently, Mr. Simmons was promoted to President of Sales for HCB Yachts globally. Mr. Simmons has demonstrated a consistent ability to drive growth in competitive markets through innovative sales strategies and strong leadership. 

His experience in scaling businesses provides a valuable commercial perspective that supports the Company’s expansion and revenue growth initiatives.

Chad Corbin

Chief Financial Officer

Chad Corbin, age 47, combines over 22 years of experience in financial and operational senior management following a career that began at Ferguson Enterprises. Previously, he had been involved in multiple companies within the financial and manufacturing industries, holding positions including Chief Financial Officer, Controller, General Manager, and Operations Manager.

 From 2000 through 2008, Mr. Corbin was the Credit Manager and later the Operations Manager for Ferguson Enterprises’ Jacksonville, FL branch. From 2008 to 2017, he served as Controller and subsequently as Chief Financial Officer and General Manager of Filmwerks International, a company specializing in event production and technical solutions. During his nine-year tenure, he was responsible for overseeing financial operations, maintaining the company’s banking relationships, overseeing two large competitor acquisitions. Following Filmwerks, from 2017 to 2024, Mr. Corbin worked as a Financial/ Operational consultant for several small companies. 

Two of his larger contracts were with Audioengine and Manufacturing Methods. Audioengine, a leading innovator in high-end audio equipment, he managed accounting, fulfilment, production, and sales support functions. Manufacturing Methods, he served has their CFO, where he was responsible for financial and human resources decisions across three companies, maintaining compliance with GAAP standards. Mr. Corbin is also currently the Chief Financial Officer of the Company.

BLake R. Phillips

Chief Operating Officer

Blake R. Phillips, age 39, combines over 17 years of experience in the recreational marine industry’s senior management.

 Previously, he had been involved in three major companies in the boating industry, holding positions including senior sales executive and Chief Operating Officer. From 2013 through 2022, Mr. Phillips held leadership roles with White River Marine Group, the world’s largest builder of fishing and recreational boats by volume, and MarineMax, the world’s largest retailer of recreational boats and yachts. 

In October 2022, he joined Off The Hook YS Inc. as Chief Operating Officer to lead the Company’s expansion of its consumer base, supplier network, stores, and operational systems. Mr. Phillips has recruited, built, and led teams of over 100, earned top sales accolades for brands such as Boston Whaler and Azimut Yachts, consulted on new vessel manufacturing, opened retail locations, and designed and managed major boat show displays.

Brian S. John

Chief Executive Officer

Brian S. John, age 56, combines over 25 years of experience in financial consulting, capital markets, and senior executive leadership, following a career as an investor and advisor to global emerging growth companies. Previously, he had been involved in numerous companies in the financial consulting and consumer products industries, holding positions including Chief Executive Officer, Chairman, and board member. 

From 2018 through 2023, Mr. John was the Chief Executive Officer of Jupiter Wellness, Inc., a consumer health and wellness company that he took public on NASDAQ in November 2020. In 2021, as CEO of Jupiter Wellness, he acquired SRM Entertainment, which began trading on NASDAQ in August 2023. From 2021 to 2023, he also served as CEO of Jupiter Wellness Acquisition Corp (NASDAQ: JWAC), now known as CJET. Mr. John is the founder of Caro Partners, LLC, a financial consulting firm specializing in advising emerging growth companies, and has worked with hundreds of companies across dozens of countries. 

He is also currently the Chairman of the Board for Caring Brands, Inc., a consumer brand development company. Mr. John served on the board of directors of The Learning Center at the Els Center of Excellence, a school for children with autism in Jupiter, Florida, from 2015 through 2023.

Jason Ruegg

Founder, President and Chairman of the Board

Jason Ruegg, age 36, combines over 12 years of experience in senior management within the marine industry following an entrepreneurial career that began during college. Previously, he had been involved in multiple ventures within the recreational boating sector, holding positions including Founder, President, and Chairman. Since 2012, Mr. Ruegg has served as Founder and President of Off the Hook Yachts, a national leader in the wholesale and retail pre-owned yacht market. 

Under his leadership, the company has completed nearly 10,000 transactions and acquired close to $1 billion in used boats and yachts. Off the Hook Yachts has been repeatedly recognized, including being named to the Inc. 500 list of America’s Fastest-Growing Companies, consistently ranked among Boating Industry’s Top 100 Dealers, and has completed over 5,000 transactions. In addition to leading core operations, Mr. Ruegg founded Azure Funding, a marine finance company, which has grown to over $100 million in annual loans, and has acquired multiple marinas, shipyards, and dry-stack facilities. 

Mr. Ruegg is also currently a director of Off the Hook YS Inc., a vertically integrated marine retail and finance platform.