Off The Hook Yachts (NYSE: OTH) Announces Share Buyback Plan
Wilmington, NC - January 08, 2026 (GLOBE NEWSWIRE) -- Off The Hook Yachts, a leader in the pre-owned boat market, has revealed a new share repurchase program aimed at enhancing shareholder value.
Overview of the Share Repurchase Program
Off The Hook Yachts (NYSE: OTH) has authorized a share repurchase initiative that allows the Company to buy back up to $1.0 million of its outstanding common stock. The timing and volume of repurchases will be autonomously determined by the management team and may be halted or terminated at any point.
CEO's Insights on Market Value
Brian John, Chief Executive Officer of Off The Hook Yachts, expressed that the current stock price does not accurately reflect the Company's true value. “Today’s stock price and market capitalization do not, in management’s view, fully reflect the underlying value of our business, our cash-generation potential, or the long-term opportunity we see ahead,” said John. He emphasized that the share repurchase plan demonstrates the Company’s confidence in its strategic direction and capital allocation commitment to shareholders.
Funding and Future Growth Initiatives
The capital for the share repurchases is anticipated to come from existing cash reserves and forthcoming cash flows. Off The Hook Yachts intends to prioritize investments that foster profitable growth, which includes:
- Expansion of inventory
- Technological advancements
- Strategic real estate developments
- Operational enhancements
About Off The Hook Yachts
Founded in 2012, Off The Hook Yachts is the largest buyer and seller of pre-owned boats in the United States. The Company's innovative, vertically integrated platform revolutionizes the buying, selling, and financing process for approximately 1 million used boats and yachts annually in the U.S. With proprietary AI-driven systems and a robust acquisition model, Off The Hook maintains a competitive edge in the $57 billion marine market.
The Company boasts impressive metrics, having executed over 3,500 transactions and acquiring more than $100 million in boats annually, all while achieving a 5X inventory turnover.
Off The Hook's diversified business structure encompasses brands such as Autograph Yacht Group, Azure Funding, Boats & Buyers, and We Buy Boats.
Contact Information
For further inquiries, please contact:
Chad Corbin, Chief Financial Officer
Email: chadcorbin@offthehookys.com
Investor Relations: ir@offthehookys.com
Forward-Looking Statements
This press release includes “forward-looking statements” as defined under relevant securities laws. These statements may involve risks and uncertainties that could affect Off The Hook Yachts’ actual outcomes. The Company is not obligated to update or revise these forward-looking statements, except as required by law.