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NXB News
NXB Events
NextBoat Secures Up to $7.2M in Debt Financing
NextBoat has secured up to $7.2M in debt financing to support its growth and investment in pre-owned boat inventory. The financing consists of a $5M revolving line of credit and up to $2.2M in bridge financing. NextBoat intends to deploy the capital primarily to acquire pre-owned boats, support wholesale transactions and provide additional flexibility as the Company executes its strategy.
NextBoat Appoints Ross Tannenbaum as CEO
NextBoat announced the appointment of Ross Tannenbaum as CEO, effective immediately. Tannenbaum succeeds Brian John, who will remain on the board to support a smooth transition. His appointment marks the beginning of an ambitious new chapter for NextBoat as thecompany moves from building its public-company foundation to driving toward profitability, expanding its national reach, and scaling a technology platform designed to transform the marine industry. Tannenbaum served as president and CEO of Dreams, a publicly traded sports licensed products and memorabilia company, and joined Fanatics following its acquisition of Dreams in 2012.
NextBoat Adds Two Strategic Leadership Members
NextBoat announced two strategic leadership additions: Zebulon Hadley joined the Board of Directors as an independent director, and Todd Bates joins the leadership team as VP of Finance & Insurance. Hadley joined the Board as an independent director and will chair its Compensation Committee. He is President and CEO of National Coatings. Most recently Bates served as Corporate Director of Finance
ThinkEquity to Manage Issuance of 3.4M Shares by Company
3.4M shares to be issued and sold by the company and 600,000 shares to be offered by existing selling stockholders. ThinkEquity is acting as manager.
NextBoat Reports Record Sales in Q2, Approaching Profitability
NextBoat provided a business update highlighting record closings and quarterly sales during the second quarter of 2026, continued expansion of its marketplace, and significant progress toward profitability, alongside continued investment in the platform and automation. "The first quarter of 2026, our first full quarter as a public company, included public-company transition costs, resulting in a loss for the quarter," said Jason Ruegg, Founder and Executive Chairman. "Based on preliminary results, we expect to be at or near profitability for the second quarter, which we believe reflects the resilience of our operating platform and our disciplined growth and execution." Second Quarter Highlights: Achieved a record number of transaction closings during the quarter; Partnered with MarineMax; Tripled the Company's transaction closing team; Grew transaction volume approximately 120% year-over-year; Successfully completed the first full quarter of ownership of APEX; Launched the Company's new automated Broker Hiring Portal; NextBoat has grown its organization by approximately 42% year-over-year
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