Sealegs' books have fallen further into the red, but sales are picking up.
The Auckland-based amphibious boat maker lost $1.2 million in the six months to the end of September, compared with $941,000 in the same period a year earlier.
Revenue rose 72% to $6.9 million, as it sold 49 boats compared with 29 in the same period a year earlier.
Sealegs says a recent restructuring, which reduced its permanent workforce, has cut costs by about $800,000, and the benefits will be reflected in the second half of the year.
The company's board is also considering repurchasing some shares on-market, to provide it with more flexibility to manage its capital base.
It plans to call a special meeting of shareholders to consider the proposal.