0000950170-24-012011 | 10-Q | XBRL Viewer | Mastercraft Boat Holdings INC

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EARNINGS PER SHARE AND COMMON STOCK - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2023	Oct. 01, 2023	Jan. 01, 2023	Oct. 02, 2022	Dec. 31, 2023	Jan. 01, 2023	Jul. 24, 2023	Jun. 30, 2023	Jun. 24, 2021
Class Of Stock [Line Items]
Stock repurchase program, number of shares authorized							$ 50,000		$ 50,000
Repurchase of shares in cash, including related fees and expenses					$ 10,173	$ 8,972
Stock repurchase program, remained available under the program			$ 41,500			$ 41,500
Available Program was fully utilized								$ 1,600
Stock Repurchase Program Authorized Amount Existing								$ 50,000
Common Stock
Class Of Stock [Line Items]
Number of shares repurchased	214,219	241,764	224,284	191,360	455,983	415,644
Repurchase of shares in cash, including related fees and expenses	$ 4,400		$ 4,800		$ 10,200	$ 9,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

DISCONTINUED OPERATIONS - Additional Information (Details) $ in Millions	6 Months Ended
	Dec. 31, 2023 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Non-cash pretax loss	$ 22.5

INCOME TAXES	6 Months Ended
INCOME TAXES	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	11. INCOME TAXES The Company’s consolidated interim effective tax rate is based on a current estimate of the annual effective income tax rate adjusted to reflect the impact of discrete items. The differences between the Company’s effective tax rates and the statutory federal tax rate of 21.0% primarily relate to the inclusion of the state tax rate in the overall effective rate, the benefit of federal and state credits, and a permanent add-back for Section 162(m) limitations, partially offset by a benefit associated with the foreign derived intangible income deduction. During the three months ended December 31, 2023 and January 1, 2023, the Company's effective tax rate was 21.8% and 24.4%, respectively, and for the six months ended December 31, 2023 and January 1, 2023, the Company’s effective tax rate was 21.7% and 23.4%, respectively. The Company’s effective tax rates for the three and six months ended December 31, 2023 are lower compared to the effective tax rate for the same prior-year periods, primarily due to a decrease in the effective state tax rate and an increase in the impact of federal tax credits, partially offset by an increase in the tax impact of uncertain state tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

EARNINGS PER SHARE AND COMMON STOCK - Factors Used in Earnings Per Share Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Earnings Per Share Basic [Line Items]
NET INCOME FROM CONTINUING OPERATIONS	$ 5,927	$ 19,983	$ 13,003	$ 44,618
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (Note 3)	(41)	(300)	(922)	(20,867)
Net Income	$ 5,886	$ 19,683	$ 12,081	$ 23,751
Weighted average shares — basic	17,010,116	17,669,645	17,083,204	17,807,853
Weighted average outstanding shares — diluted	17,091,633	17,774,329	17,158,124	17,903,027
Basic net income (loss) per share
Continuing operations	$ 0.35	$ 1.13	$ 0.76	$ 2.51
Discontinued operations	0	(0.02)	(0.05)	(1.18)
Net income	0.35	1.11	0.71	1.33
Diluted net income (loss) per share
Continuing operations	0.35	1.12	0.76	2.49
Discontinued operations	(0.01)	(0.01)	(0.06)	(1.16)
Net income	$ 0.34	$ 1.11	$ 0.7	$ 1.33
Stock options
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards\units	0	8,175	0	8,134
Restricted stock awards
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards\units	81,517	96,509	74,920	87,040

INVENTORIES - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 28,455	$ 40,201
Work in process	10,038	9,465
Finished goods	6,134	10,335
Obsolescence reserve	(1,571)	(1,703)
Total inventories	$ 43,056	$ 58,298

SHARE-BASED COMPENSATION

6 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

12.

SHARE-BASED COMPENSATION

The following table presents the components of share-based compensation expense by award type.


	Three Months Ended					Six Months Ended
	December 31,			January 1,		December 31,			January 1,
	2023			2023		2023			2023
Restricted stock awards	$	601		$	583	$	1,014		$	1,135
Performance stock units		(592	)		162		(66	)		730
Share-based compensation expense	$	9		$	745	$	948		$	1,865

Restricted Stock Awards

During the six months ended December 31, 2023, the Company granted 116,962 restricted stock awards (“RSAs”) to the Company’s non-executive directors, officers and certain other key employees. Generally, the shares of restricted stock granted during the six months ended December 31, 2023, vest pro-rata over three years for officers and certain other key employees and over one year for non-executive directors. The Company determined the fair value of the shares awarded by using the close price of our common stock as of the date of grant. The weighted average grant date fair value of RSAs granted in the six months ended December 31, 2023, was $21.07 per share.

The following table summarizes the status of nonvested RSAs as of December 31, 2023, and changes during the six months then ended.


				Average
	Nonvested			Grant-Date
	Restricted			Fair Value
	Shares			(per share)
Nonvested at June 30, 2023		91,907		$	23.66
Granted		116,962			21.07
Vested		(18,830	)		20.00
Forfeited		(14,801	)		23.26
Nonvested at December 31, 2023		175,238			22.36

As of December 31, 2023, there was $2.9 million of total unrecognized compensation expense related to nonvested RSAs. The Company expects this expense to be recognized over a weighted average period of 1.8 years.

Performance Stock Units

Performance stock units (“PSUs”) are a form of long-term incentive compensation awarded to executive officers and certain other key employees designed to directly align the interests of employees to the interests of the Company’s stockholders, and to create long-term stockholder value. The awards will be earned based on the Company’s achievement of certain performance criteria over a three-year performance period. The performance period for the awards commences on July 1 of the fiscal year in which they were granted and continue for a three-year period, ending on June 30 of the applicable year. The probability of achieving the performance criteria is

assessed quarterly. Following the determination of the Company’s achievement with respect to the performance criteria, the number of shares awarded is subject to further adjustment based on the application of a total shareholder return (“TSR”) modifier. The grant date fair value is determined based on both the probability assessment of the Company achieving the performance criteria and an estimate of the expected TSR modifier. The TSR modifier estimate is determined using a Monte Carlo Simulation model, which considers the likelihood of numerous possible outcomes of long-term market performance. Compensation expense related to nonvested PSUs is recognized ratably over the performance period.

The following table summarizes the status of nonvested PSUs as of December 31, 2023, and changes during the six months then ended.


				Average
	Nonvested			Grant-Date
	Performance			Fair Value
	Stock Units			(per share)
Nonvested at June 30, 2023		122,971		$	27.12
Granted		86,555			21.62
Forfeited		(21,816	)		25.80
Nonvested at December 31, 2023		187,710			24.74

As of December 31, 2023, there was $1.6 million of total unrecognized compensation expense related to nonvested PSUs. The Company expects this expense to be recognized over a weighted average period of 2.4 years.

INVENTORIES (Tables)

6 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following:


	December 31,			June 30,
	2023			2023
Raw materials and supplies	$	28,455		$	40,201
Work in process		10,038			9,465
Finished goods		6,134			10,335
Obsolescence reserve		(1,571	)		(1,703	)
Total inventories	$	43,056		$	58,298

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Long-term debt
Total debt	$ 51,443	$ 53,676
Less current portion of long-term debt	4,500	4,500
Long-term debt, net of current portion	47,075	49,295
Term Loan
Long-term debt
Term loan	51,750	54,000
Debt issuance costs on term loans	(307)	(324)
Less current portion of debt issuance costs on term loans	$ (132)	$ (119)

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Goodwill [Line Items]
Goodwill	$ 65,831	$ 65,831
Accumulated impairment losses	(37,338)	(37,338)
Goodwill, net	28,493	28,493
MasterCraft
Goodwill [Line Items]
Goodwill	28,493	28,493
Accumulated impairment losses	0	0
Goodwill, net	28,493	28,493
Crest
Goodwill [Line Items]
Goodwill	36,238	36,238
Accumulated impairment losses	(36,238)	(36,238)
Goodwill, net	0	0
Aviara
Goodwill [Line Items]
Goodwill	1,100	1,100
Accumulated impairment losses	(1,100)	(1,100)
Goodwill, net	$ 0	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

LONG-TERM DEBT - Revolving Credit Facility - Additional Information (Details) - Revolving Credit Facility $ in Millions	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Outstanding borrowings	$ 0.0
Remaining borrowing capacity	$ 100.0

- Definition

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/exampleRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation — The Company’s fiscal year begins July 1 and ends June 30, with the interim quarterly reporting periods consisting of 13 weeks. Therefore, the fiscal quarter end will not always coincide with the date of the end of a calendar month. The accompanying unaudited condensed consolidated financial statements include the accounts of MasterCraft Boat Holdings, Inc. ("Holdings") and its wholly owned subsidiaries. Holdings and its subsidiaries collectively are referred to herein as the "Company." The unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s audited consolidated financial statements for the year ended June 30, 2023, and, in the opinion of management, reflect all adjustments considered necessary to present fairly the Company’s financial position as of December 31, 2023, its results of operations for the three and six months ended December 31, 2023 and January 1, 2023, its cash flows for the six months ended December 31, 2023 and January 1, 2023, and its statements of equity for the three and six months ended December 31, 2023 and January 1, 2023. All adjustments are of a normal, recurring nature. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the SEC for financial information have been condensed or omitted pursuant to such rules and regulations. The June 30, 2023 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by U.S. GAAP for complete financial statements. However, management believes that the disclosures in these condensed consolidated financial statements are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in our 2023 Annual Report on Form 10-K. Due to the seasonality of the Company’s business, the interim results are not necessarily indicative of the results that may be expected for the remainder of the fiscal year. There were no significant changes in or changes to the application of the Company’s significant or critical accounting policies or estimation procedures for the three and six months ended December 31, 2023, as compared with those described in the Company’s audited consolidated financial statements for the fiscal year ended June 30, 2023. Investment in Sales-Type Lease — On July 1, 2023, the Company became a lessor in a sales-type lease arrangement consisting of land valued at $3.9 million. In accordance with Accounting Standards Codification (“ASC”) 842, Leases, the underlying land was derecognized as Property, plant and equipment and a sales-type lease was recognized as a net investment in a lease. The net investment balances are represented as lease receivable and unguaranteed residual asset amounts on the balance sheet within other current assets and other long-term assets. The interest earned on the net investment will be recognized as interest income. New Pronouncements Issued Income Taxes Accounting Standard Update ("ASU") No. 2023-09, Improvements to Income Tax Disclosures, requires entities to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and provide more details about the reconciling items in some categories if items meet a quantitative threshold. Entities would have to provide qualitative disclosures about the new categories. The guidance will require all entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. Entities are required to apply the guidance prospectively, with the option to apply it retrospectively. The guidance is effective for annual periods beginning after December 15, 2024, or fiscal 2026 for the Company. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures. Segment Reporting ASU No. 2023-07, Improvements to Reportable Segment Disclosures, requires incremental disclosures about an entity’s reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The new guidance requires disclosure of significant segment expenses that are (1) regularly provided to (or easily computed from information regularly provided to) the chief operating decision maker and (2) included in the reported measure of segment profit or loss. The new standard also allows companies to disclose multiple measures of segment profit or loss if those measures are used to assess performance and allocate resources. This update is effective for fiscal years beginning after December 31, 2023, or fiscal 2025 for the Company, and should be adopted retrospectively unless impracticable. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Summary of Accrued Warranty Liability Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023
Roll forward of the accrued warranty liability
Balance at the beginning of the period	$ 31,780	$ 25,824
Provisions	4,325	7,183
Payments made	(7,683)	(5,604)
Changes for pre-existing warranties	2,813	2,342
Balance at the end of the period	$ 31,235	$ 29,745

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Legal Proceedings

The Company is subject to various litigation, claims and proceedings, which have arisen in the ordinary course of business. The Company accrues for litigation, claims and proceedings when a liability is both probable and the amount can be reasonably estimated.

The Company’s accruals for litigation matters are not material. While these matters are subject to inherent uncertainties, management believes that current litigation, claims and proceedings, individually and in aggregate, and after considering expected insurance reimbursements and other contract indemnifications, are not likely to have a material adverse impact on the Company’s financial position, results of operations or cash flows.

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amount of Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	$ 19,745	$ 19,745
Amortized intangible assets, Accumulated Amortization / Impairment	(11,195)	(10,283)
Amortized intangible assets, Other intangible assets, net	8,550	9,462
Gross Amount	52,745	52,745
Accumulated Amortization / Impairment	(18,195)	(17,283)
Other intangible assets, net	34,550	35,462
Dealer network
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	19,500	19,500
Amortized intangible assets, Accumulated Amortization / Impairment	(10,950)	(10,050)
Amortized intangible assets, Other intangible assets, net	8,550	9,450
Software
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	245	245
Amortized intangible assets, Accumulated Amortization / Impairment	(245)	(233)
Amortized intangible assets, Other intangible assets, net	0	12
Trade names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Unamortized intangible assets, Gross Amount	33,000	33,000
Unamortized intangible assets, Accumulated Amortization / Impairment	(7,000)	(7,000)
Unamortized intangible assets, Other intangible assets, net	$ 26,000	$ 26,000

HELD-TO-MATURITY SECURITIES (Tables)

6 Months Ended

Dec. 31, 2023

Investments Disclosure [Abstract]

Summary of investments



	December 31, 2023
	Amortized		Gross		Gross			Estimated
	Cost / Net		Unrealized		Unrealized			Fair
	Carrying Amount		Gains		Losses			Value
Held-to-maturity securities:
Fixed income securities:
Corporate bonds	$	72,538	$	18	$	(13	)	$	72,543
Total held-to-maturity securities	$	72,538	$	18	$	(13	)	$	72,543



	June 30, 2023
	Amortized		Gross		Gross			Estimated
	Cost / Net		Unrealized		Unrealized			Fair
	Carrying Amount		Gains		Losses			Value
Held-to-maturity securities:
Fixed income securities:
Corporate bonds	$	81,743	$	1	$	(160	)	$	81,584
U.S. treasury bills		9,817		31		(1	)		9,847
Total held-to-maturity securities	$	91,560	$	32	$	(161	)	$	91,431

LONG-TERM DEBT - Senior Secured Credit Facility - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Jun. 30, 2023
Term Loan
Long-term debt
Long-term debt	$ 51,750	$ 51,750	$ 54,000
Interest rate		6.71%
Senior Secured Credit Facility
Long-term debt
Maximum borrowing capacity	$ 160,000	$ 160,000
Senior Secured Credit Facility \| Prime Rate
Long-term debt
Variable margin rate	0.25%
Senior Secured Credit Facility \| Prime Rate \| Minimum
Long-term debt
Variable margin rate		0.25%
Senior Secured Credit Facility \| Prime Rate \| Maximum
Long-term debt
Variable margin rate		1.00%
Senior Secured Credit Facility \| Term Benchmark
Long-term debt
Variable margin rate		1.25%
Senior Secured Credit Facility \| Term Benchmark \| Minimum
Long-term debt
Variable margin rate		1.25%
Senior Secured Credit Facility \| Term Benchmark \| Maximum
Long-term debt
Variable margin rate		2.00%
Senior Secured Credit Facility \| Term Loan
Long-term debt
Long-term debt	$ 60,000	$ 60,000
Senior Secured Credit Facility \| Revolving Credit Facility
Long-term debt
Maximum borrowing capacity	$ 100,000	$ 100,000
Senior Secured Credit Facility \| Revolving Credit Facility \| Minimum
Long-term debt
Commitment fee percentage		0.15%
Senior Secured Credit Facility \| Revolving Credit Facility \| Maximum
Long-term debt
Commitment fee percentage		0.30%

GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table presents the carrying amounts of goodwill as of December 31, 2023 and June 30, 2023 for each of the Company's reportable segments.


	Gross Amount		Accumulated Impairment Losses			Total
MasterCraft	$	28,493	$	—		$	28,493
Crest		36,238		(36,238	)		—
Aviara		1,100		(1,100	)		—
Total	$	65,831	$	(37,338	)	$	28,493

The following table presents the carrying amounts of Other intangible assets, net:


	December 31,							June 30,
	2023							2023
	Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net		Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net
Amortized intangible assets
Dealer networks	$	19,500	$	(10,950	)	$	8,550	$	19,500	$	(10,050	)	$	9,450
Software		245		(245	)		—		245		(233	)		12
		19,745		(11,195	)		8,550		19,745		(10,283	)		9,462

Unamortized intangible assets
Trade names		33,000		(7,000	)		26,000		33,000		(7,000	)		26,000
Total other intangible assets	$	52,745	$	(18,195	)	$	34,550	$	52,745	$	(17,283	)	$	35,462

Amortization expense related to Other intangible assets, net for each of the three months and each of the six months ended December 31, 2023 and January 1, 2023, was $0.5 million and $1.0 million, respectively. Estimated amortization expense for the fiscal year ending June 30, 2024 is $1.8 million.

LONG-TERM DEBT

6 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

LONG-TERM DEBT

10.

LONG-TERM DEBT

Long-term debt is as follows:


	December 31,			June 30,
	2023			2023
Term loan	$	51,750		$	54,000
Debt issuance costs on term loan		(307	)		(324	)
Total debt		51,443			53,676
Less current portion of long-term debt		4,500			4,500
Less current portion of debt issuance costs on term loan		(132	)		(119	)
Long-term debt, net of current portion	$	47,075		$	49,295

The Company has a credit agreement with a syndicate of certain financial institutions (the "Credit Agreement") that provides the Company with a $160.0 million senior secured credit facility, consisting of a $60.0 million term loan (the "Term Loan") and a $100.0 million revolving credit facility (the "Revolving Credit Facility"). The Credit Agreement is secured by a first priority security interest in substantially all of the Company's assets.

The Credit Agreement contains a number of covenants that, among other things, restrict the Company’s ability to, subject to specified exceptions, incur additional debt; incur additional liens and contingent liabilities; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve; engage in businesses that are not in a related line of business; make loans, advances or guarantees; pay dividends or make other distributions; engage in transactions with affiliates; and make investments. The Company is also required to maintain a minimum fixed charge coverage ratio and a maximum net leverage ratio.

On August 31, 2022, the Company entered into the Second Amendment to the Credit Agreement to obtain the necessary consents and waivers related to the sale of the NauticStar segment on September 2, 2022, as discussed in Note 3.

On October 4, 2023, the Company entered into the Third Amendment to the Credit Agreement to exclude certain amounts of stock repurchases during the fiscal year ending June 30, 2024 from the calculation of the minimum required fixed charge coverage ratio.

The Credit Agreement, as amended, bears interest, at the Company’s option, at either the prime rate plus an applicable margin ranging from 0.25% to 1.00% or at an adjusted term benchmark rate plus an applicable margin ranging from 1.25% to 2.00%, in each case based on the Company’s net leverage ratio. The Company is also required to pay a commitment fee for any unused portion of the revolving credit facility ranging from 0.15% to 0.30% based on the Company’s net leverage ratio. Effective during both the three and six months ended December 31, 2023, the applicable margin for loans accruing at the prime rate was 0.25% and the applicable margin for loans accruing interest at the benchmark rate was 1.25%. As of December 31, 2023, the interest rate on the Company’s term loan was 6.71%.

The Credit Agreement will mature and all remaining amounts outstanding thereunder will be due and payable on June 28, 2026. As of December 31, 2023, the Company was in compliance with its financial covenants under the Credit Agreement.

Revolving Credit Facility

As of December 31, 2023, the Company had no amounts outstanding on its Revolving Credit Facility and had remaining availability of $100.0 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

PROPERTY, PLANT, AND EQUIPMENT - Summary of Property, plant, and equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 115,841	$ 113,311
Less accumulated depreciation	(38,095)	(35,390)
Property, Plant and Equipment, Net	77,746	77,921
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	7,587	10,456
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	48,618	46,759
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	42,238	40,632
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,597	5,284
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 11,801	$ 10,180

REVENUE RECOGNITION - Summary of Revenues From Contracts with Customers by Major Product Category and Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Revenue by Categories
Revenue	$ 99,481	$ 159,188	$ 203,698	$ 328,704
MasterCraft
Revenue by Categories
Revenue	72,699	108,665	148,535	221,685
Crest
Revenue by Categories
Revenue	17,051	36,665	35,520	80,226
Aviara
Revenue by Categories
Revenue	9,731	13,858	19,643	26,793
Boats and trailers
Revenue by Categories
Revenue	96,803	155,758	194,657	320,040
Boats and trailers \| MasterCraft
Revenue by Categories
Revenue	70,374	105,536	140,198	213,740
Boats and trailers \| Crest
Revenue by Categories
Revenue	16,698	36,364	34,816	79,507
Boats and trailers \| Aviara
Revenue by Categories
Revenue	9,731	13,858	19,643	26,793
Parts
Revenue by Categories
Revenue	2,163	2,791	7,607	7,281
Parts \| MasterCraft
Revenue by Categories
Revenue	1,939	2,658	7,130	6,895
Parts \| Crest
Revenue by Categories
Revenue	224	133	477	386
Other
Revenue by Categories
Revenue	515	639	1,434	1,383
Other \| MasterCraft
Revenue by Categories
Revenue	386	471	1,207	1,050
Other \| Crest
Revenue by Categories
Revenue	$ 129	$ 168	$ 227	$ 333

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 280
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+ Details

EARNINGS PER SHARE AND COMMON STOCK

6 Months Ended

Dec. 31, 2023

Equity [Abstract]

EARNINGS PER SHARE AND COMMON STOCK

13.

EARNINGS PER SHARE AND COMMON STOCK

The following table sets forth the computation of the Company’s net income per share:


	Three Months Ended						Six Months Ended
	December 31,			January 1,			December 31,			January 1,
	2023			2023			2023			2023
Net income from continuing operations	$	5,927		$	19,983		$	13,003		$	44,618
Loss from discontinued operations, net of tax		(41	)		(300	)		(922	)		(20,867	)
Net income	$	5,886		$	19,683		$	12,081		$	23,751

Weighted average shares — basic		17,010,116			17,669,645			17,083,204			17,807,853
Dilutive effect of assumed exercises of stock options		—			8,175			—			8,134
Dilutive effect of assumed restricted share awards/units		81,517			96,509			74,920			87,040
Weighted average outstanding shares — diluted		17,091,633			17,774,329			17,158,124			17,903,027
Basic net income (loss) per share
Continuing operations	$	0.35		$	1.13		$	0.76		$	2.51
Discontinued operations	$	—		$	(0.02	)		(0.05	)		(1.18	)
Net income	$	0.35		$	1.11		$	0.71		$	1.33
Diluted net income (loss) per share
Continuing operations	$	0.35		$	1.12		$	0.76		$	2.49
Discontinued operations	$	(0.01	)	$	(0.01	)		(0.06	)		(1.16	)
Net income	$	0.34		$	1.11		$	0.70		$	1.33

For the three and six months ended December 31, 2023 and January 1, 2023, an immaterial number of shares were excluded from the computation of diluted earnings per share as the effect would have been anti-dilutive.

Share Repurchase Program

On June 24, 2021, the board of directors of the Company authorized a share repurchase program that allowed for the repurchase of up to $50.0 million of the Company’s common stock during the three-year period ending June 24, 2024. While having $1.6 million of availability as of June 30, 2023, this program was fully utilized during the first quarter ended October 1, 2023.

On July 24, 2023, the board of directors of the Company authorized a new share repurchase program under which the Company may repurchase up to $50.0 million of its outstanding shares of common stock. The new authorization became effective upon the completion of the Company's existing $50.0 million stock repurchase authorization.

During the three months ended December 31, 2023 and January 1, 2023, the Company repurchased 214,219 shares and 224,284 shares of common stock for $4.4 million and $4.8 million, respectively, in cash, excluding related fees and expenses. During the six months ended December 31, 2023 and January 1, 2023, the Company repurchased 455,983 shares and 415,644 shares of common stock for $10.2 million and $9.0 million, respectively, in cash, excluding related fees and expenses. As of December 31, 2023, $41.5 million remained available under the program.

DISCONTINUED OPERATIONS

6 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

On September 2, 2022, the Company sold its NauticStar business to certain affiliates of Iconic Marine Group, LLC ("Purchaser"). Pursuant to the terms of the purchase agreement, substantially all of the assets of NauticStar were sold, including, among other things, all of the issued and outstanding membership interests in its wholly-owned subsidiary NS Transport, LLC, all owned real property, equipment, inventory, intellectual property and accounts receivable, and the Purchaser assumed substantially all of the liabilities of NauticStar, including, among other things, product liability and warranty claims.

During the six months ended January 1, 2023, the Company recognized a $22.5 million loss on sale. The final settlement of the purchase price was subject to customary working capital adjustments that had been in arbitration, but were settled in October 2023 without a significant impact to the loss on sale previously recorded. The value of the assets and liabilities that were retained at the time of sale, which are primarily related to certain claims, are subject to change. Certain of these claims have been settled or are expected to settle for higher amounts than previously estimated, with the related activity being recorded as discontinued operations.

The following table summarizes the operating results of discontinued operations for the following periods:


	Six Months Ended
	December 31,			January 1,
	2023			2023
NET SALES	$	37		$	7,780
COST OF SALES		260			9,412
GROSS PROFIT (LOSS)		(223	)		(1,632	)
OPERATING EXPENSES:
Selling, general and administrative		1,132			2,522
Total operating expenses		1,132			2,522
OPERATING LOSS		(1,355	)		(4,154	)
Loss on sale of discontinued operations		157			(22,487	)
LOSS BEFORE INCOME TAX BENEFIT		(1,198	)		(26,641	)
INCOME TAX BENEFIT		276			5,774
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX	$	(922	)	$	(20,867	)

The operating results, and components thereof, of discontinued operations for the three months ended December 31, 2023 and January 1, 2023 were not significant.

DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Operating Results and Balance Sheet Data for Discontinued Operations and Disposals

The following table summarizes the operating results of discontinued operations for the following periods:


	Six Months Ended
	December 31,			January 1,
	2023			2023
NET SALES	$	37		$	7,780
COST OF SALES		260			9,412
GROSS PROFIT (LOSS)		(223	)		(1,632	)
OPERATING EXPENSES:
Selling, general and administrative		1,132			2,522
Total operating expenses		1,132			2,522
OPERATING LOSS		(1,355	)		(4,154	)
Loss on sale of discontinued operations		157			(22,487	)
LOSS BEFORE INCOME TAX BENEFIT		(1,198	)		(26,641	)
INCOME TAX BENEFIT		276			5,774
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX	$	(922	)	$	(20,867	)

The operating results, and components thereof, of discontinued operations for the three months ended December 31, 2023 and January 1, 2023 were not significant.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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-Name Accounting Standards Codification
-Section 50
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+ Details

HELD-TO-MATURITY SECURITIES

6 Months Ended

Dec. 31, 2023

Investments Disclosure [Abstract]

HELD-TO-MATURITY SECURITIES

The amortized cost and net carrying amount, gross unrealized gains and losses, and estimated fair value of our investments classified as held-to-maturity at December 31, 2023 and June 30, 2023 are summarized as follows:



	December 31, 2023
	Amortized		Gross		Gross			Estimated
	Cost / Net		Unrealized		Unrealized			Fair
	Carrying Amount		Gains		Losses			Value
Held-to-maturity securities:
Fixed income securities:
Corporate bonds	$	72,538	$	18	$	(13	)	$	72,543
Total held-to-maturity securities	$	72,538	$	18	$	(13	)	$	72,543



	June 30, 2023
	Amortized		Gross		Gross			Estimated
	Cost / Net		Unrealized		Unrealized			Fair
	Carrying Amount		Gains		Losses			Value
Held-to-maturity securities:
Fixed income securities:
Corporate bonds	$	81,743	$	1	$	(160	)	$	81,584
U.S. treasury bills		9,817		31		(1	)		9,847
Total held-to-maturity securities	$	91,560	$	32	$	(161	)	$	91,431

REVENUE RECOGNITION (Tables)

6 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Revenues from Contracts with Customers by Major Product Category and Reportable Segment

The following tables present the Company's revenue by major product category for each reportable segment:


	Three Months Ended December 31, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	70,374	$	16,698	$	9,731	$	96,803
Parts		1,939		224		—		2,163
Other revenue		386		129		—		515
Total	$	72,699	$	17,051	$	9,731	$	99,481


	Six Months Ended December 31, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	140,198	$	34,816	$	19,643	$	194,657
Parts		7,130		477		—		7,607
Other revenue		1,207		227		—		1,434
Total	$	148,535	$	35,520	$	19,643	$	203,698


	Three Months Ended January 1, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	105,536	$	36,364	$	13,858	$	155,758
Parts		2,658		133		—		2,791
Other revenue		471		168		—		639
Total	$	108,665	$	36,665	$	13,858	$	159,188


	Six Months Ended January 1, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	213,740	$	79,507	$	26,793	$	320,040
Parts		6,895		386		—		7,281
Other revenue		1,050		333		—		1,383
Total	$	221,685	$	80,226	$	26,793	$	328,704

EARNINGS PER SHARE AND COMMON STOCK (Tables)

6 Months Ended

Dec. 31, 2023

Equity [Abstract]

Factors Used in Net Income Per Share Computation

The following table sets forth the computation of the Company’s net income per share:


	Three Months Ended						Six Months Ended
	December 31,			January 1,			December 31,			January 1,
	2023			2023			2023			2023
Net income from continuing operations	$	5,927		$	19,983		$	13,003		$	44,618
Loss from discontinued operations, net of tax		(41	)		(300	)		(922	)		(20,867	)
Net income	$	5,886		$	19,683		$	12,081		$	23,751

Weighted average shares — basic		17,010,116			17,669,645			17,083,204			17,807,853
Dilutive effect of assumed exercises of stock options		—			8,175			—			8,134
Dilutive effect of assumed restricted share awards/units		81,517			96,509			74,920			87,040
Weighted average outstanding shares — diluted		17,091,633			17,774,329			17,158,124			17,903,027
Basic net income (loss) per share
Continuing operations	$	0.35		$	1.13		$	0.76		$	2.51
Discontinued operations	$	—		$	(0.02	)		(0.05	)		(1.18	)
Net income	$	0.35		$	1.11		$	0.71		$	1.33
Diluted net income (loss) per share
Continuing operations	$	0.35		$	1.12		$	0.76		$	2.49
Discontinued operations	$	(0.01	)	$	(0.01	)		(0.06	)		(1.16	)
Net income	$	0.34		$	1.11		$	0.70		$	1.33

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

6 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amounts of Goodwill

The following table presents the carrying amounts of goodwill as of December 31, 2023 and June 30, 2023 for each of the Company's reportable segments.


	Gross Amount		Accumulated Impairment Losses			Total
MasterCraft	$	28,493	$	—		$	28,493
Crest		36,238		(36,238	)		—
Aviara		1,100		(1,100	)		—
Total	$	65,831	$	(37,338	)	$	28,493

Schedule of Carrying Amount of Other Intangible Assets, Net

The following table presents the carrying amounts of Other intangible assets, net:


	December 31,							June 30,
	2023							2023
	Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net		Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net
Amortized intangible assets
Dealer networks	$	19,500	$	(10,950	)	$	8,550	$	19,500	$	(10,050	)	$	9,450
Software		245		(245	)		—		245		(233	)		12
		19,745		(11,195	)		8,550		19,745		(10,283	)		9,462

Unamortized intangible assets
Trade names		33,000		(7,000	)		26,000		33,000		(7,000	)		26,000
Total other intangible assets	$	52,745	$	(18,195	)	$	34,550	$	52,745	$	(17,283	)	$	35,462

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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+ Details

PROPERTY, PLANT, AND EQUIPMENT (Tables)

6 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, net consisted of the following:


	December 31,			June 30,
	2023			2023
Land and improvements	$	7,587		$	10,456
Buildings and improvements		48,618			46,759
Machinery and equipment		42,238			40,632
Furniture and fixtures		5,597			5,284
Construction in progress		11,801			10,180
Total property, plant, and equipment		115,841			113,311
Less accumulated depreciation		(38,095	)		(35,390	)
Property, plant, and equipment — net	$	77,746		$	77,921

SHARE-BASED COMPENSATION - Performance Stock Units - Additional Information (Details) - Performance stock units $ in Millions	6 Months Ended
	Dec. 31, 2023 USD ($)
Stock-Based Compensation
Unrecognized compensation expense	$ 1.6
Weighted average period	2 years 4 months 24 days
Executive officers and certain other key employees
Stock-Based Compensation
Vesting period (in years)	3 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

SHARE-BASED COMPENSATION - Components of Share-based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Stock-Based Compensation
Share-based compensation expense	$ 9	$ 745	$ 948	$ 1,865
Restricted stock awards
Stock-Based Compensation
Share-based compensation expense	(601)	583	(1,014)	1,135
Performance stock units
Stock-Based Compensation
Share-based compensation expense	$ 592	$ 162	$ 66	$ 730

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INVENTORIES

6 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consisted of the following:


	December 31,			June 30,
	2023			2023
Raw materials and supplies	$	28,455		$	40,201
Work in process		10,038			9,465
Finished goods		6,134			10,335
Obsolescence reserve		(1,571	)		(1,703	)
Total inventories	$	43,056		$	58,298

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Dec. 31, 2023	Feb. 02, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Registrant Name	MASTERCRAFT BOAT HOLDINGS, INC.
Entity Central Index Key	0001638290
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		17,033,805
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	MCFT
Security Exchange Name	NASDAQ
Entity File Number	001-37502
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1571747
Entity Address, Address Line One	100 Cherokee Cove Drive
Entity Address, City or Town	Vonore
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37885
City Area Code	423
Local Phone Number	884-2221
Document Quarterly Report	true
Document Transition Report	false

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 12,081	$ 23,751
Loss from discontinued operations, net of tax	922	(20,867)
Net income from continuing operations	13,003	44,618
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	5,484	5,211
Share-based compensation	948	1,865
Unrecognized tax benefits	586	(370)
Deferred income taxes	(341)	4,634
Amortization of debt issuance costs	124	115
Changes in certain operating assets and liabilities	(89)	22,705
Other, net	(513)	985
Net cash provided by operating activities of continuing operations	19,202	79,763
Net cash used in operating activities of discontinued operations	(509)	(1,865)
Net cash provided by operating activities	18,693	77,898
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(8,118)	(11,915)
Purchases of investments	(67,237)	(59,687)
Maturities of investments	87,195	0
Other, net	5	0
Net cash provided by (used in) investing activities of continuing operations	11,845	(71,602)
Net cash used in investing activities of discontinued operations	0	(501)
Net cash provided by (used in) investing activities	11,845	(72,103)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on long-term debt	(2,250)	(1,500)
Repurchase and retirement of common stock	(10,173)	(8,972)
Other, net	(1,686)	(465)
Net cash used in financing activities of continuing operations	(14,109)	(10,937)
NET CHANGE IN CASH AND CASH EQUIVALENTS	16,429	(5,142)
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD	19,817	34,203
CASH AND CASH EQUIVALENTS — END OF PERIOD	36,246	29,061
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash payments for interest	1,580	1,125
Cash payments for income taxes	8,116	5,845
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Activity related to sales-type lease	3,898	0
Capital expenditures in accounts payable and accrued expenses	$ 1,171	$ 1,130

PROPERTY, PLANT, AND EQUIPMENT

6 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment, net consisted of the following:


	December 31,			June 30,
	2023			2023
Land and improvements	$	7,587		$	10,456
Buildings and improvements		48,618			46,759
Machinery and equipment		42,238			40,632
Furniture and fixtures		5,597			5,284
Construction in progress		11,801			10,180
Total property, plant, and equipment		115,841			113,311
Less accumulated depreciation		(38,095	)		(35,390	)
Property, plant, and equipment — net	$	77,746		$	77,921

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 38	$ 122
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	17,033,805	17,312,850
Common stock, outstanding shares	17,033,805	17,312,850

SEGMENT INFORMATION - Schedule of Operating Information for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 99,481	$ 159,188	$ 203,698	$ 328,704
Operating income (loss)	7,018	26,461	15,571	58,683
Depreciation and amortization	2,758	2,610	5,484	5,211
Purchases of property, plant and equipment	3,715	5,947	8,118	11,915
Total assets	331,786		331,786		$ 353,976
MasterCraft
Segment Reporting Information [Line Items]
Net sales	72,699	108,665	148,535	221,685
Operating income (loss)	10,294	22,899	20,584	46,971
Depreciation and amortization	1,282	1,364	2,583	2,746
Purchases of property, plant and equipment	1,407	3,173	3,616	5,283
MasterCraft \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	240,444		240,444		259,201
Crest
Segment Reporting Information [Line Items]
Net sales	17,051	36,665	35,520	80,226
Operating income (loss)	469	5,071	732	12,614
Depreciation and amortization	816	721	1,624	1,403
Purchases of property, plant and equipment	314	1,681	1,178	4,203
Crest \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	48,130		48,130		53,435
Aviara
Segment Reporting Information [Line Items]
Net sales	9,731	13,858	19,643	26,793
Operating income (loss)	(3,745)	(1,509)	(5,745)	(902)
Depreciation and amortization	660	525	1,277	1,062
Purchases of property, plant and equipment	1,994	$ 1,093	3,324	$ 2,429
Aviara \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 43,212		$ 43,212		$ 41,340

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation — The Company’s fiscal year begins July 1 and ends June 30, with the interim quarterly reporting periods consisting of 13 weeks. Therefore, the fiscal quarter end will not always coincide with the date of the end of a calendar month. The accompanying unaudited condensed consolidated financial statements include the accounts of MasterCraft Boat Holdings, Inc. ("Holdings") and its wholly owned subsidiaries. Holdings and its subsidiaries collectively are referred to herein as the "Company." The unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s audited consolidated financial statements for the year ended June 30, 2023, and, in the opinion of management, reflect all adjustments considered necessary to present fairly the Company’s financial position as of December 31, 2023, its results of operations for the three and six months ended December 31, 2023 and January 1, 2023, its cash flows for the six months ended December 31, 2023 and January 1, 2023, and its statements of equity for the three and six months ended December 31, 2023 and January 1, 2023. All adjustments are of a normal, recurring nature. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the SEC for financial information have been condensed or omitted pursuant to such rules and regulations. The June 30, 2023 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by U.S. GAAP for complete financial statements. However, management believes that the disclosures in these condensed consolidated financial statements are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in our 2023 Annual Report on Form 10-K. Due to the seasonality of the Company’s business, the interim results are not necessarily indicative of the results that may be expected for the remainder of the fiscal year. There were no significant changes in or changes to the application of the Company’s significant or critical accounting policies or estimation procedures for the three and six months ended December 31, 2023, as compared with those described in the Company’s audited consolidated financial statements for the fiscal year ended June 30, 2023.
Investment in Sales-Type Lease	Investment in Sales-Type Lease — On July 1, 2023, the Company became a lessor in a sales-type lease arrangement consisting of land valued at $3.9 million. In accordance with Accounting Standards Codification (“ASC”) 842, Leases, the underlying land was derecognized as Property, plant and equipment and a sales-type lease was recognized as a net investment in a lease. The net investment balances are represented as lease receivable and unguaranteed residual asset amounts on the balance sheet within other current assets and other long-term assets. The interest earned on the net investment will be recognized as interest income.
New Pronouncements Issued	New Pronouncements Issued Income Taxes Accounting Standard Update ("ASU") No. 2023-09, Improvements to Income Tax Disclosures, requires entities to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and provide more details about the reconciling items in some categories if items meet a quantitative threshold. Entities would have to provide qualitative disclosures about the new categories. The guidance will require all entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. Entities are required to apply the guidance prospectively, with the option to apply it retrospectively. The guidance is effective for annual periods beginning after December 15, 2024, or fiscal 2026 for the Company. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures. Segment Reporting ASU No. 2023-07, Improvements to Reportable Segment Disclosures, requires incremental disclosures about an entity’s reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The new guidance requires disclosure of significant segment expenses that are (1) regularly provided to (or easily computed from information regularly provided to) the chief operating decision maker and (2) included in the reported measure of segment profit or loss. The new standard also allows companies to disclose multiple measures of segment profit or loss if those measures are used to assess performance and allocate resources. This update is effective for fiscal years beginning after December 31, 2023, or fiscal 2025 for the Company, and should be adopted retrospectively unless impracticable. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures.

DISCONTINUED OPERATIONS - Summary of Operating Results of Discontinued Operations (Details) - USD ($)	6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023
OPERATING EXPENSES:
Loss on sale of discontinued operations	$ 22,500,000
NauticStar
Discontinued Operations
NET SALES	37,000	$ 7,780,000
COST OF SALES	260,000	9,412,000
GROSS LOSS	(223,000)	(1,632,000)
OPERATING EXPENSES:
Selling, general and administrative	1,132,000	2,522,000
Total operating expenses	1,132,000	2,522,000
OPERATING LOSS	(1,355,000)	(4,154,000)
Loss on sale of discontinued operations	157	(22,487,000)
LOSS BEFORE INCOME TAX BENEFIT	(1,198,000)	(26,641,000)
INCOME TAX BENEFIT	276,000	5,774,000
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX	$ (922,000)	$ (20,867,000)

LONG-TERM DEBT (Tables)

6 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt is as follows:


	December 31,			June 30,
	2023			2023
Term loan	$	51,750		$	54,000
Debt issuance costs on term loan		(307	)		(324	)
Total debt		51,443			53,676
Less current portion of long-term debt		4,500			4,500
Less current portion of debt issuance costs on term loan		(132	)		(119	)
Long-term debt, net of current portion	$	47,075		$	49,295

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

INCOME TAXES - Additional Information (Details)	3 Months Ended		6 Months Ended
INCOME TAXES - Additional Information (Details)	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Income Tax Disclosure [Abstract]
Effective tax rates	21.80%	24.40%	21.70%	23.40%
Statutory income tax rate			21.00%

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained earning	Non controlling Interest	MasterCraft Boat Holdings, Inc.
Balance, beginning at Jun. 30, 2022		$ 181	$ 96,584	$ 46,883		$ 143,648
Balance, beginning (in shares) at Jun. 30, 2022		18,061,437
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2022	$ 143,648
Share-based compensation activity	650	$ 1	649			650
Share-based compensation activity (shares)		128,040
Repurchase and retirement of common stock	(4,178)	$ (2)	(4,176)			4,178
Repurchase and retirement of common stock (shares)		(191,360)
Net income	4,068			4,068		4,068
Balance, ending at Oct. 02, 2022		$ 180	93,057	(50,951)		144,188
Balance, ending (in shares) at Oct. 02, 2022		17,998,117
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Oct. 02, 2022	144,188
Balance, beginning at Jun. 30, 2022		$ 181	96,584	46,883		143,648
Balance, beginning (in shares) at Jun. 30, 2022		18,061,437
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2022	143,648
Repurchase and retirement of common stock (shares)		(415,644)
Net income	23,751
Balance, ending at Jan. 01, 2023		$ 178	89,010	70,634		159,822
Balance, ending (in shares) at Jan. 01, 2023		17,776,299
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jan. 01, 2023	159,822
Balance, beginning at Oct. 02, 2022		$ 180	93,057	(50,951)		144,188
Balance, beginning (in shares) at Oct. 02, 2022		17,998,117
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Oct. 02, 2022	144,188
Share-based compensation activity	745		745			745
Share-based compensation activity (shares)		2,466
Repurchase and retirement of common stock	4,794	$ (2)	(4,792)			4,794
Repurchase and retirement of common stock (shares)		(224,284)
Net income	19,683			19,683		19,683
Balance, ending at Jan. 01, 2023		$ 178	89,010	70,634		159,822
Balance, ending (in shares) at Jan. 01, 2023		17,776,299
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jan. 01, 2023	159,822
Balance, beginning at Jun. 30, 2023	191,969	$ 173	75,976	115,820	$ 120	191,969
Balance, beginning (in shares) at Jun. 30, 2023		17,312,850
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2023	192,089
Share-based compensation activity	(683)		(683)			(683)
Share-based compensation activity (shares)		185,055
Repurchase and retirement of common stock	5,785	$ (2)	(5,783)			5,785
Repurchase and retirement of common stock (shares)		(241,764)
Capital contribution from noncontrolling interest	80				80
Net income	6,195			6,195		6,195
Balance, ending at Oct. 01, 2023		$ 171	69,510	122,015	200	191,696
Balance, ending (in shares) at Oct. 01, 2023		17,256,141
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Oct. 01, 2023	191,896
Balance, beginning at Jun. 30, 2023	191,969	$ 173	75,976	115,820	120	191,969
Balance, beginning (in shares) at Jun. 30, 2023		17,312,850
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2023	192,089
Repurchase and retirement of common stock (shares)		(455,983)
Net income	12,081
Balance, ending at Dec. 31, 2023	193,131	$ 170	65,060	127,901	200	193,131
Balance, ending (in shares) at Dec. 31, 2023		17,033,805
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2023	193,331
Balance, beginning at Oct. 01, 2023		$ 171	69,510	122,015	200	191,696
Balance, beginning (in shares) at Oct. 01, 2023		17,256,141
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Oct. 01, 2023	191,896
Share-based compensation activity	9	$ 1	8			9
Share-based compensation activity (shares)		(8,117)
Repurchase and retirement of common stock	4,460	$ (2)	(4,458)			4,460
Repurchase and retirement of common stock (shares)		(214,219)
Net income	5,886			5,886		5,886
Balance, ending at Dec. 31, 2023	193,131	$ 170	$ 65,060	$ 127,901	$ 200	$ 193,131
Balance, ending (in shares) at Dec. 31, 2023		17,033,805
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2023	$ 193,331

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

SHARE-BASED COMPENSATION - Summary of Status of Nonvested Restricted Stock Awards and Changes (Details) - Restricted stock awards	6 Months Ended
	Dec. 31, 2023 $ / shares shares
Nonvested Restricted Shares
Nonvested at beginning of period \| shares	91,907
Granted \| shares	116,962
Vested \| shares	(18,830)
Forfeited \| shares	(14,801)
Nonvested at end of period \| shares	175,238
Average Grant-Date Fair Value (Per share)
Nonvested at beginning of period \| $ / shares	$ 23.66
Granted \| $ / shares	21.07
Vested \| $ / shares	20
Forfeited \| $ / shares	23.26
Nonvested at end of period \| $ / shares	$ 22.36

SHARE-BASED COMPENSATION - Summary of Status of Nonvested Performance Stock Units and Changes (Details) - Performance stock units	6 Months Ended
	Dec. 31, 2023 $ / shares shares
Nonvested Performance Stock Units
Nonvested at beginning of period \| shares	122,971
Granted \| shares	86,555
Forfeited \| shares	(21,816)
Nonvested at end of period \| shares	187,710
Average Grant-Date Fair Value (Per share)
Nonvested at beginning of period \| $ / shares	$ 27.12
Granted \| $ / shares	21.62
Forfeited \| $ / shares	25.8
Nonvested at end of period \| $ / shares	$ 24.74

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

6 Months Ended

Dec. 31, 2023

Accrued Liabilities and Other Liabilities [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	December 31,		June 30,
	2023		2023
Warranty	$	31,235	$	31,780
Dealer incentives		20,079		24,987
Compensation and related accruals		3,384		5,838
Self-insurance		1,247		1,586
Inventory repurchase contingent obligation		2,123		1,515
Contract liabilities		2,692		1,477
Liabilities retained associated with discontinued operations		845		690
Other		3,985		4,623
Total accrued expenses and other current liabilities	$	65,590	$	72,496

Summary of Accrued Warranty Liability Activity

Accrued warranty liability activity was as follows for the six months ended:


	December 31,			January 1,
	2023			2023
Balance at the beginning of the period	$	31,780		$	25,824
Provisions		4,325			7,183
Payments made		(7,683	)		(5,604	)
Changes for pre-existing warranties		2,813			2,342
Balance at the end of the period	$	31,235		$	29,745

SEGMENT INFORMATION - Additional Information (Details)	6 Months Ended
SEGMENT INFORMATION - Additional Information (Details)	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Components of Share-based Compensation Expense by Award Type

The following table presents the components of share-based compensation expense by award type.


	Three Months Ended					Six Months Ended
	December 31,			January 1,		December 31,			January 1,
	2023			2023		2023			2023
Restricted stock awards	$	601		$	583	$	1,014		$	1,135
Performance stock units		(592	)		162		(66	)		730
Share-based compensation expense	$	9		$	745	$	948		$	1,865

Summary of Status of Nonvested Restricted Stock Awards and Changes

The following table summarizes the status of nonvested RSAs as of December 31, 2023, and changes during the six months then ended.


				Average
	Nonvested			Grant-Date
	Restricted			Fair Value
	Shares			(per share)
Nonvested at June 30, 2023		91,907		$	23.66
Granted		116,962			21.07
Vested		(18,830	)		20.00
Forfeited		(14,801	)		23.26
Nonvested at December 31, 2023		175,238			22.36

Summary of Status of Nonvested Performance Stock Units and Changes

The following table summarizes the status of nonvested PSUs as of December 31, 2023, and changes during the six months then ended.


				Average
	Nonvested			Grant-Date
	Performance			Fair Value
	Stock Units			(per share)
Nonvested at June 30, 2023		122,971		$	27.12
Granted		86,555			21.62
Forfeited		(21,816	)		25.80
Nonvested at December 31, 2023		187,710			24.74

REVENUE RECOGNITION - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Jun. 30, 2023
Contract liabilities
Contract with Customer, Liability, Current	$ 2,692	$ 1,477
Contract liabilities		$ 3,300
Contract with Customer, Liability, Revenue Recognized	1,200
Revenue, Remaining Performance Obligation, Amount	2,200
Accrued Expenses and Other Current Liabilities
Contract liabilities
Contract with Customer, Liability, Current	4,700
Other Noncurrent Liabilities [Member]
Contract liabilities
Other long term liabilities	$ 4,700

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) $ in Millions	Jul. 01, 2023 USD ($)
Organization Basis Of Presentation And Significant Accounting Policies [Line Items]
Sales-type Lease, Net Investment in Lease, Sale	$ 3.9

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023	Jun. 30, 2024
Indefinite-Lived Intangible Assets [Line Items]
Amortization of other intangible assets	$ 450	$ 489	$ 912	$ 978
Estimated amortization expense June 30, 2023					$ 1,800

SEGMENT INFORMATION

6 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

14.

SEGMENT INFORMATION

Reportable Segments

Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the CODM in making decisions on how to allocate resources and assess performance. For the three and six months ended December 31, 2023, the Company’s CODM regularly assessed the operating performance of the Company’s boat brands under three operating and reportable segments:

•

The MasterCraft segment produces boats at its Vonore, Tennessee facility. These are premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.

•

The Crest segment produces pontoon boats at its Owosso, Michigan facility. Crest boats are primarily used for general recreational boating.

•

The Aviara segment produces luxury day boats at its Merritt Island, Florida facility. Aviara boats are primarily used for general recreational boating.

Each segment distributes its products through its own independent dealer network. Each segment also has its own management structure which is responsible for the operations of the segment and is directly accountable to the CODM for the operating performance of the segment, which is regularly assessed by the CODM who allocates resources based on that performance.

The Company files a consolidated income tax return and does not allocate income taxes and other corporate-level expenses, including interest, to operating segments. All material corporate costs are included in the MasterCraft segment.

Selected financial information for the Company’s reportable segments was as follows:


	For the Three Months Ended December 31, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	72,699	$	17,051	$	9,731			99,481
Operating income (loss)		10,294		469		(3,745	)		7,018
Depreciation and amortization		1,282		816		660			2,758
Purchases of property, plant and equipment		1,407		314		1,994			3,715


	For the Six Months Ended December 31, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	148,535	$	35,520	$	19,643		$	203,698
Operating income (loss)		20,584		732		(5,745	)		15,571
Depreciation and amortization		2,583		1,624		1,277			5,484
Purchases of property, plant and equipment		3,616		1,178		3,324			8,118


	For the Three Months Ended January 1, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	108,665	$	36,665	$	13,858		$	159,188
Operating income (loss)		22,899		5,071		(1,509	)		26,461
Depreciation and amortization		1,364		721		525			2,610
Purchases of property, plant and equipment		3,173		1,681		1,093			5,947


	For the Six Months Ended January 1, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	221,685	$	80,226	$	26,793		$	328,704
Operating income (loss)		46,971		12,614		(902	)		58,683
Depreciation and amortization		2,746		1,403		1,062			5,211
Purchases of property, plant and equipment		5,283		4,203		2,429			11,915

The following table presents total assets for the Company’s reportable segments.


	December 31, 2023		June 30, 2023
Assets:
MasterCraft	$	240,444	$	259,201
Crest		48,130		53,435
Aviara		43,212		41,340
Total assets	$	331,786	$	353,976

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 36,246	$ 19,817
Held-to-maturity securities (Note 4)	72,538	91,560
Accounts receivable, net of allowance of $38 and $122, respectively	8,786	15,741
Inventories, net (Note 5)	43,056	58,298
Prepaid expenses and other current assets	9,684	10,083
Total current assets	170,310	195,499
Property, plant and equipment, net (Note 6)	77,746	77,921
Goodwill (Note 7)	28,493	28,493
Other intangible assets, net (Note 7)	34,550	35,462
Deferred income taxes	12,769	12,428
Deferred debt issuance costs, net	341	304
Other long-term assets	7,577	3,869
Total assets	331,786	353,976
CURRENT LIABILITIES:
Accounts payable	10,205	20,391
Income tax payable	438	5,272
Accrued expenses and other current liabilities (Note 8)	65,590	72,496
Current portion of long-term debt, net of unamortized debt issuance costs (Note 10)	4,368	4,381
Total current liabilities	80,601	102,540
Long-term debt, net of unamortized debt issuance costs (Note 10)	47,075	49,295
Unrecognized tax positions	7,936	7,350
Other long-term liabilities	2,843	2,702
Total liabilities	138,455	161,887
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value per share authorized 100,000,000 shares issued and outstanding 17,033,805 shares at December 31 2023 and 17312850 shares at June 30 2023	170	173
Additional paid-in capital	65,060	75,976
Retained earnings	127,901	115,820
MasterCraft Boat Holdings, Inc. equity	193,131	191,969
Noncontrolling interest	200	120
Total equity	193,331	192,089	$ 143,648
Total liabilities and stockholders' equity	$ 331,786	$ 353,976

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Warranty	$ 31,235	$ 31,780
Dealer incentives	20,079	24,987
Compensation and related accruals	3,384	5,838
Self-insurance	1,247	1,586
Inventory repurchase contingent obligation	2,123	1,515
Contract liabilities	2,692	1,477
Liabilities retained associated with discontinued operations	845	690
Other	3,985	4,623
Total accrued expenses and other current liabilities	$ 65,590	$ 72,496

REVENUE RECOGNITION

6 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

The following tables present the Company's revenue by major product category for each reportable segment:


	Three Months Ended December 31, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	70,374	$	16,698	$	9,731	$	96,803
Parts		1,939		224		—		2,163
Other revenue		386		129		—		515
Total	$	72,699	$	17,051	$	9,731	$	99,481


	Six Months Ended December 31, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	140,198	$	34,816	$	19,643	$	194,657
Parts		7,130		477		—		7,607
Other revenue		1,207		227		—		1,434
Total	$	148,535	$	35,520	$	19,643	$	203,698


	Three Months Ended January 1, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	105,536	$	36,364	$	13,858	$	155,758
Parts		2,658		133		—		2,791
Other revenue		471		168		—		639
Total	$	108,665	$	36,665	$	13,858	$	159,188


	Six Months Ended January 1, 2023
	MasterCraft		Crest		Aviara		Total
Major Product Categories:
Boats and trailers	$	213,740	$	79,507	$	26,793	$	320,040
Parts		6,895		386		—		7,281
Other revenue		1,050		333		—		1,383
Total	$	221,685	$	80,226	$	26,793	$	328,704

Contract Liabilities

As of June 30, 2023, the Company had $3.3 million of contract liabilities associated with customer deposits and services. During the six months ended December 31, 2023, $1.2 million was recognized as revenue. As of December 31, 2023, total contract liabilities associated with customer deposits and services of $4.7 million were reported in Accrued expenses and other current liabilities and Other long-term liabilities on the condensed consolidated balance sheet, and $2.2 million is expected to be recognized as revenue during the remainder of the year ending June 30, 2024.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

HELD-TO-MATURITY SECURITIES - Summary of investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Amortized Cost	$ 72,538	$ 91,560
Gross Unrealized Gains	18	32
Gross Unrealized Losses	(13)	(161)
Estimated Fair Value	72,543	91,431
Corporate Bond
Amortized Cost	72,538	81,743
Gross Unrealized Gains	18	1
Gross Unrealized Losses	(13)	(160)
Estimated Fair Value	$ 72,543	81,584
US Treasury Bill Securities [Member]
Amortized Cost		9,817
Gross Unrealized Gains		31
Gross Unrealized Losses		(1)
Estimated Fair Value		$ 9,847

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2023	Jan. 01, 2023
Income Statement [Abstract]
NET SALES	$ 99,481	$ 159,188	$ 203,698	$ 328,704
COST OF SALES	80,752	120,961	163,133	244,504
GROSS PROFIT	18,729	38,227	40,565	84,200
OPERATING EXPENSES:
Selling and marketing	3,150	3,042	6,614	6,821
General and administrative	8,111	8,235	17,468	17,718
Amortization of other intangible assets	450	489	912	978
Total operating expenses	11,711	11,766	24,994	25,517
OPERATING INCOME	7,018	26,461	15,571	58,683
OTHER INCOME (EXPENSE):
Interest expense	(854)	(666)	(1,732)	(1,228)
Interest income	1,415	621	2,766	772
INCOME BEFORE INCOME TAX EXPENSE	7,579	26,416	16,605	58,227
INCOME TAX EXPENSE	1,652	6,433	3,602	13,609
Net income from continuing operations	5,927	19,983	13,003	44,618
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (Note 3)	(41)	(300)	(922)	(20,867)
NET INCOME	$ 5,886	$ 19,683	$ 12,081	$ 23,751
Basic
Continuing operations	$ 0.35	$ 1.13	$ 0.76	$ 2.51
Discontinued operations	0	(0.02)	(0.05)	(1.18)
Net income	0.35	1.11	0.71	1.33
Diluted
Continuing operations	0.35	1.12	0.76	2.49
Discontinued operations	(0.01)	(0.01)	(0.06)	(1.16)
Net income	$ 0.34	$ 1.11	$ 0.7	$ 1.33
WEIGHTED AVERAGE SHARES USED FOR COMPUTATION OF:
Basic earnings per share	17,010,116	17,669,645	17,083,204	17,807,853
Diluted earnings per share	17,091,633	17,774,329	17,158,124	17,903,027

SEGMENT INFORMATION (Tables)

6 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Operating Information for Reportable Segments

Selected financial information for the Company’s reportable segments was as follows:


	For the Three Months Ended December 31, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	72,699	$	17,051	$	9,731			99,481
Operating income (loss)		10,294		469		(3,745	)		7,018
Depreciation and amortization		1,282		816		660			2,758
Purchases of property, plant and equipment		1,407		314		1,994			3,715


	For the Six Months Ended December 31, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	148,535	$	35,520	$	19,643		$	203,698
Operating income (loss)		20,584		732		(5,745	)		15,571
Depreciation and amortization		2,583		1,624		1,277			5,484
Purchases of property, plant and equipment		3,616		1,178		3,324			8,118


	For the Three Months Ended January 1, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	108,665	$	36,665	$	13,858		$	159,188
Operating income (loss)		22,899		5,071		(1,509	)		26,461
Depreciation and amortization		1,364		721		525			2,610
Purchases of property, plant and equipment		3,173		1,681		1,093			5,947


	For the Six Months Ended January 1, 2023
	MasterCraft		Crest		Aviara			Consolidated
Net sales	$	221,685	$	80,226	$	26,793		$	328,704
Operating income (loss)		46,971		12,614		(902	)		58,683
Depreciation and amortization		2,746		1,403		1,062			5,211
Purchases of property, plant and equipment		5,283		4,203		2,429			11,915

The following table presents total assets for the Company’s reportable segments.


	December 31, 2023		June 30, 2023
Assets:
MasterCraft	$	240,444	$	259,201
Crest		48,130		53,435
Aviara		43,212		41,340
Total assets	$	331,786	$	353,976

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

6 Months Ended

Dec. 31, 2023

Accrued Liabilities and Other Liabilities [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following:


	December 31,		June 30,
	2023		2023
Warranty	$	31,235	$	31,780
Dealer incentives		20,079		24,987
Compensation and related accruals		3,384		5,838
Self-insurance		1,247		1,586
Inventory repurchase contingent obligation		2,123		1,515
Contract liabilities		2,692		1,477
Liabilities retained associated with discontinued operations		845		690
Other		3,985		4,623
Total accrued expenses and other current liabilities	$	65,590	$	72,496

Accrued warranty liability activity was as follows for the six months ended:


	December 31,			January 1,
	2023			2023
Balance at the beginning of the period	$	31,780		$	25,824
Provisions		4,325			7,183
Payments made		(7,683	)		(5,604	)
Changes for pre-existing warranties		2,813			2,342
Balance at the end of the period	$	31,235		$	29,745

SHARE-BASED COMPENSATION - Restricted Stock Awards - Additional Information (Details) - Restricted stock awards $ / shares in Units, $ in Millions	6 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Stock-Based Compensation
Stock awards granted	116,962
Weighted average grant date value \| $ / shares	$ 21.07
Unrecognized compensation expense \| $	$ 2.9
Weighted average period	1 year 9 months 18 days
Non-executive directors, officers and certain other key employees
Stock-Based Compensation
Stock awards granted	116,962
Officers and certain other key employees
Stock-Based Compensation
Vesting period (in years)	3 years
Non-executive directors
Stock-Based Compensation
Vesting period (in years)	1 year