Online marine marketplace NextBoat, one of the largest buyers and sellers of used boats in the United States, has confirmed that its chief financial officer, Chad Corbin, has resigned.
Founded in 2012 as Off The Hook YS, NextBoat operates across boat brokerage, wholesale inventory acquisition, auctions, financing and marine services in the US. Its businesses include Off The Hook Yachts, Autograph Yacht Group and Azure Funding.
The filing states: “On 5 October 2026, Mr Chad Corbin notified Ross Tannenbaum, the chief executive officer of NextBoat Inc of his decision to resign as chief financial officer of the company. Mr Corbin will continue to serve as CFO during a transition period until a successor CFO is identified.
“Mr Corbin’s resignation did not result from any disagreement with the company on any matter relating to the company’s operations, policies or practices. Mr Corbin is departing on good terms and has expressed his wishes for the company’s continued success.”
The filing is signed by Tannenbaum, who was named as chief executive in late September 2026 as part of a “growth and profitability push”. Tannenbaum succeeds Brian John, who will remain on NextBoat’s board of directors to support the transition.
NextBoat Q2 2026 results
NextBoat reported record revenue of $59.1m for the second quarter ended 30 June 2026, up 88.4 per cent year on year. The firm sold a record 255 boats, with transaction volumes rising approximately 138 per cent. Growth was supported by its acquisitions of Apex Marine and Bellhart, increased borrowing capacity to fund boat inventory and an expanded network of 111 brokers.
Gross profit doubled to $9.5m, while the gross profit margin rose from 15.2 per cent to 16.1 per cent, helped by higher-margin service, brokerage and finance income from the acquired businesses. However, NextBoat recorded a net loss of $2.1m, compared with a $0.6m profit a year earlier, as staffing, operating and interest costs increased. Adjusted EBITDA remained broadly unchanged at $0.8m.
NextBoat maintained its full-year revenue forecast of $165m–$170m. During the quarter, it also advanced its partnership with MarineMax as the latter’s preferred wholesale and trade-in partner.
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