Traeger Announces Fourth Quarter and Full Year 2025 Results
Key Terms
adjusted ebitda financial
goodwill impairment financial
free cash flow financial
gross margin financial
restructuring financial
sku rationalization technical
Full Year 2025 Revenues Above High End of Guidance Range
Provides Guidance for 2026
Fourth Quarter Results
-
Total revenues decreased
13.8% to$145.4 million -
Grill revenues decreased
22.3% to$60.6 million -
Net loss of
$17.2 million $7.0 million -
Adjusted EBITDA of
$19.4 million $18.4 million -
Expanded Project Gravity Phase 2 value capture, bringing total expected annualized savings to approximately
$64 million $70 million
Full Year 2025 Results
-
Total revenues decreased
7.4% to$559.5 million -
Grill revenues decreased
8.2% to$298.0 million -
Net loss of
$115.2 million $34.0 million $74.7 million -
Adjusted EBITDA of
$70.0 million $81.9 million
Jeremy Andrus, CEO of Traeger, commented, “We closed 2025 with strong execution, delivering revenue above the high end of our guidance and adjusted EBITDA in the upper half of our guidance range. More importantly, we took deliberate decisions to navigate tariff pressure, protect profitability, and simplify the business in ways that strengthen our foundation for the long term. As we look ahead, we are executing with discipline to focus the business on our highest‑return opportunities, while continuing to invest behind product innovation and brand. We believe these actions are positioning Traeger for stronger long-term performance.”
Joey Hord, CFO of Traeger, added, “We exited 2025 with a solid financial foundation, supported by the progress we’ve made under Project Gravity. As we move into 2026, our focus is on inventory alignment, cost discipline, and cash generation. We expect to generate additional free cash flow this year, providing flexibility to invest in the business, further strengthen our balance sheet, and support our long‑term growth strategy.”
Operating Results for the Fourth Quarter
Total revenues decreased by
-
Grills revenues decreased
22.3% to$60.6 million $78.0 million -
Consumables revenues increased
15.8% to$35.5 million $30.7 million -
Accessories revenues decreased
17.9% to$49.2 million $60.0 million
Gross profit decreased to
Sales and marketing expenses were
General and administrative expenses were
Restructuring and other costs of
Net loss was
Adjusted net income was
Adjusted EBITDA was
| __________________________________ |
| 1 Reconciliations of GAAP to non-GAAP financial measures, as well as definitions for the non-GAAP financial measures included in this press release and the reasons for their use, are presented below. |
| 2 There were no potentially dilutive securities outstanding as of December 31, 2025 and 2024. |
Operating Results for the Full Year ended December 31, 2025
Total revenues decreased by
-
Grills revenues decreased
8.2% to$298.0 million $324.7 million -
Consumables revenues increased
6.9% to$127.5 million $119.3 million -
Accessories revenues decreased
16.3% to$134.0 million $160.1 million
Gross profit decreased to
Sales and marketing expenses were
General and administrative expenses were
Goodwill impairment of
Restructuring and other costs of
Net loss was
Adjusted net loss was
Adjusted EBITDA was
| __________________________________ |
| 1 Reconciliations of GAAP to non-GAAP financial measures, as well as definitions for the non-GAAP financial measures included in this press release and the reasons for their use, are presented below. |
| 2 There were no potentially dilutive securities outstanding as of December 31, 2025 and 2024. |
Balance Sheet
Cash and cash equivalents at December 31, 2025 totaled
Inventory at December 31, 2025 was
Project Gravity Update: Remains on Track with Additional Savings Identified
Project Gravity, the Company's multi-step initiative to streamline operations, simplify the business, and improve returns on invested capital remains on track to be substantially completed by the end of 2026. Additional value capture opportunities within Phase 2 have been identified, particularly around SKU rationalization and a more strategic approach to pricing, which are expected to generate an additional
These actions support a structurally higher‑margin business mix and reinforce the Company’s focus on long‑term earnings power.
Guidance
The Company's guidance for Fiscal Year 2026 does not reflect the potential impact of recently implemented or proposed tariffs.
Guidance For Full Year Fiscal 2026
-
Total revenue is expected to be between
$465 million $485 million -
Gross margin is expected to be between
38.0% and39.0% -
Adjusted EBITDA is expected to be between
$50 million $60 million -
Free Cash Flow is expected to be at least
$30 million
Guidance For First Quarter 2026
-
Total revenue is expected to be between
$92 million $97 million -
Adjusted EBITDA is expected to be between
$3 million $7 million
A reconciliation of Adjusted EBITDA and Free Cash Flow guidance to Net Loss and Net cash provided by operating activities on a forward-looking basis cannot be provided without unreasonable efforts, as the Company is unable to provide reconciling information with respect to benefit for income taxes, interest expense, depreciation and amortization, other income, stock-based compensation, non-routine legal expenses, goodwill impairment, restructuring and other costs, employee retention tax credits, and purchases of property, plant, and equipment, all of which are adjustments to Adjusted EBITDA and Free Cash Flows.
Conference Call Details
A conference call to discuss the Company's fourth quarter and full year 2025 results is scheduled for Thursday, March 5, 2026, at 4:30 p.m. ET. To participate, please dial (833) 470-1428 or +1 (646) 844-6383 for international callers, conference ID 589715. The conference call will also be webcast live at https://investors.traeger.com. A recording will be available shortly after the conclusion of the call. To access the replay, please dial (866) 813-9403, conference ID 797067. A replay of the webcast will also be available approximately two hours after the conclusion of the call on the Company's website at https://investors.traeger.com.
About Traeger
Traeger Grills, headquartered in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our anticipated first quarter and full year fiscal 2026 results, our Project Gravity initiative, our strategy, and our financial position. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, our realization of the anticipated benefits from Project Gravity and the impact that Project Gravity may have on our business; our history of operating losses; our ability to manage our business through periods of strategic realignment; our ability to expand into additional markets; our ability to maintain and strengthen our brand to generate and maintain ongoing demand for our products; our ability to cost-effectively attract new customers and retain our existing customers; our failure to maintain product quality and product performance at an acceptable cost;
TRAEGER, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) |
|||||||
|
December 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
|
(unaudited) |
|
|
||||
ASSETS |
|
|
|
||||
Current Assets |
|
|
|
||||
Cash and cash equivalents |
$ |
19,624 |
|
|
$ |
14,981 |
|
Accounts receivable, net |
|
82,122 |
|
|
|
85,331 |
|
Inventories |
|
98,831 |
|
|
|
107,367 |
|
Prepaid expenses and other current assets |
|
14,272 |
|
|
|
35,444 |
|
Total current assets |
|
214,849 |
|
|
|
243,123 |
|
Property, plant, and equipment, net |
|
33,703 |
|
|
|
36,949 |
|
Operating lease right-of-use assets |
|
38,201 |
|
|
|
44,370 |
|
Goodwill |
|
— |
|
|
|
74,725 |
|
Intangible assets, net |
|
387,050 |
|
|
|
428,536 |
|
Other long-term assets |
|
2,173 |
|
|
|
2,974 |
|
Total assets |
$ |
675,976 |
|
|
$ |
830,677 |
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||||
Current Liabilities |
|
|
|
||||
Accounts payable |
$ |
14,135 |
|
|
$ |
27,701 |
|
Accrued expenses |
|
62,668 |
|
|
|
82,143 |
|
Line of credit |
|
— |
|
|
|
5,000 |
|
Current portion of notes payable |
|
250 |
|
|
|
250 |
|
Current portion of operating lease liabilities |
|
2,650 |
|
|
|
3,790 |
|
Other current liabilities |
|
382 |
|
|
|
3,357 |
|
Total current liabilities |
|
80,085 |
|
|
|
122,241 |
|
Notes payable, net of current portion |
|
399,590 |
|
|
|
398,445 |
|
Operating lease liabilities, net of current portion |
|
23,040 |
|
|
|
26,646 |
|
Deferred tax liability |
|
1,861 |
|
|
|
6,376 |
|
Other non-current liabilities |
|
552 |
|
|
|
539 |
|
Total liabilities |
|
505,128 |
|
|
|
554,247 |
|
|
|
|
|
||||
Stockholders’ equity |
|
|
|
||||
Preferred stock, |
|
— |
|
|
|
— |
|
Common stock, |
|
|
|
||||
Issued and outstanding shares - 137,068,259 and 130,648,819 as of December 31, 2025 and 2024 |
|
14 |
|
|
|
13 |
|
Additional paid-in capital |
|
974,372 |
|
|
|
960,966 |
|
Accumulated deficit |
|
(804,066 |
) |
|
|
(688,885 |
) |
Accumulated other comprehensive income |
|
528 |
|
|
|
4,336 |
|
Total stockholders’ equity |
|
170,848 |
|
|
|
276,430 |
|
Total liabilities and stockholders’ equity |
$ |
675,976 |
|
|
$ |
830,677 |
|
TRAEGER, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited) (in thousands, except share and per share amounts) |
|||||||||||||||
|
Three Months Ended December 31, |
|
Year-ended December 31, |
||||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
Revenue |
$ |
145,358 |
|
|
$ |
168,637 |
|
|
$ |
559,520 |
|
|
$ |
604,072 |
|
Cost of revenue |
|
91,017 |
|
|
|
99,747 |
|
|
|
340,174 |
|
|
|
348,603 |
|
Gross profit |
|
54,341 |
|
|
|
68,890 |
|
|
|
219,346 |
|
|
|
255,469 |
|
Operating expense: |
|
|
|
|
|
|
|
||||||||
Sales and marketing |
|
23,228 |
|
|
|
33,591 |
|
|
|
90,217 |
|
|
|
109,656 |
|
General and administrative |
|
21,816 |
|
|
|
26,719 |
|
|
|
95,031 |
|
|
|
113,483 |
|
Amortization of intangible assets |
|
8,813 |
|
|
|
8,818 |
|
|
|
35,260 |
|
|
|
35,274 |
|
Goodwill impairment |
|
— |
|
|
|
— |
|
|
|
74,725 |
|
|
|
— |
|
Restructuring and other costs |
|
12,168 |
|
|
|
— |
|
|
|
21,840 |
|
|
|
— |
|
Total operating expense |
|
66,025 |
|
|
|
69,128 |
|
|
|
317,073 |
|
|
|
258,413 |
|
Loss from operations |
|
(11,684 |
) |
|
|
(238 |
) |
|
|
(97,727 |
) |
|
|
(2,944 |
) |
Other income (expense): |
|
|
|
|
|
|
|
||||||||
Interest expense |
|
(7,551 |
) |
|
|
(8,192 |
) |
|
|
(31,350 |
) |
|
|
(33,500 |
) |
Other income, net |
|
192 |
|
|
|
(513 |
) |
|
|
9,755 |
|
|
|
480 |
|
Total other expense |
|
(7,359 |
) |
|
|
(8,705 |
) |
|
|
(21,595 |
) |
|
|
(33,020 |
) |
Loss before benefit from income taxes |
|
(19,043 |
) |
|
|
(8,943 |
) |
|
|
(119,322 |
) |
|
|
(35,964 |
) |
Benefit from income taxes |
|
(1,843 |
) |
|
|
(1,985 |
) |
|
|
(4,141 |
) |
|
|
(1,956 |
) |
Net loss |
$ |
(17,200 |
) |
|
$ |
(6,958 |
) |
|
$ |
(115,181 |
) |
|
$ |
(34,008 |
) |
Net loss per share, basic and diluted |
$ |
(0.13 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.87 |
) |
|
$ |
(0.27 |
) |
Weighted-average common shares outstanding, basic and diluted |
|
135,321,683 |
|
|
|
129,174,440 |
|
|
|
133,095,964 |
|
|
|
127,443,657 |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
||||||||
Foreign currency translation adjustments |
$ |
34 |
|
|
$ |
(49 |
) |
|
$ |
(68 |
) |
|
$ |
62 |
|
Amortization of dedesignated cash flow hedge |
|
(887 |
) |
|
|
(1,160 |
) |
|
|
(3,740 |
) |
|
|
(6,666 |
) |
Total other comprehensive loss |
|
(853 |
) |
|
|
(1,209 |
) |
|
|
(3,808 |
) |
|
|
(6,604 |
) |
Comprehensive loss |
$ |
(18,053 |
) |
|
$ |
(8,167 |
) |
|
$ |
(118,989 |
) |
|
$ |
(40,612 |
) |
TRAEGER, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) |
|||||||||||
|
Year-ended December 31, |
||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
||||||
Net loss |
$ |
(115,181 |
) |
|
$ |
(34,008 |
) |
|
$ |
(84,402 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
|
||||||
Depreciation of property, plant, and equipment |
|
12,143 |
|
|
|
13,870 |
|
|
|
15,011 |
|
Amortization of intangible assets |
|
41,992 |
|
|
|
42,458 |
|
|
|
42,770 |
|
Amortization of deferred financing costs |
|
2,028 |
|
|
|
1,977 |
|
|
|
2,016 |
|
Loss (gain) on disposal of property, plant, and equipment |
|
(83 |
) |
|
|
649 |
|
|
|
2,188 |
|
Stock-based compensation expense |
|
15,254 |
|
|
|
27,901 |
|
|
|
53,203 |
|
Unrealized loss on derivative contracts |
|
5,095 |
|
|
|
9,971 |
|
|
|
3,997 |
|
Amortization of dedesignated cash flow hedge |
|
(3,740 |
) |
|
|
(6,666 |
) |
|
|
(10,364 |
) |
Change in contingent consideration |
|
— |
|
|
|
(15,000 |
) |
|
|
4,478 |
|
Goodwill impairment |
|
74,725 |
|
|
|
— |
|
|
|
— |
|
Other non-cash adjustments |
|
(2,690 |
) |
|
|
(233 |
) |
|
|
(2,022 |
) |
Change in operating assets and liabilities: |
|
|
|
|
|
||||||
Accounts receivable |
|
3,150 |
|
|
|
(25,396 |
) |
|
|
(17,735 |
) |
Inventories |
|
8,536 |
|
|
|
(11,192 |
) |
|
|
57,295 |
|
Prepaid expenses and other current assets |
|
14,355 |
|
|
|
(7,573 |
) |
|
|
(4,199 |
) |
Other non-current assets |
|
114 |
|
|
|
148 |
|
|
|
(568 |
) |
Accounts payable and accrued expenses |
|
(35,178 |
) |
|
|
26,982 |
|
|
|
2,374 |
|
Net cash provided by operating activities |
|
20,520 |
|
|
|
23,888 |
|
|
|
64,042 |
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
||||||
Purchase of property, plant, and equipment |
|
(6,934 |
) |
|
|
(11,996 |
) |
|
|
(19,946 |
) |
Capitalization of patent costs |
|
(506 |
) |
|
|
(448 |
) |
|
|
(460 |
) |
Proceeds from sale of property, plant, and equipment |
|
108 |
|
|
|
113 |
|
|
|
3,028 |
|
Net cash used in investing activities |
|
(7,332 |
) |
|
|
(12,331 |
) |
|
|
(17,378 |
) |
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
||||||
Proceeds from line of credit |
|
59,000 |
|
|
|
63,000 |
|
|
|
115,900 |
|
Repayments on line of credit |
|
(64,000 |
) |
|
|
(86,400 |
) |
|
|
(171,209 |
) |
Repayments of long-term debt |
|
(250 |
) |
|
|
(250 |
) |
|
|
(250 |
) |
Payment of deferred financing costs |
|
(904 |
) |
|
|
(119 |
) |
|
|
— |
|
Principal payments on finance lease liabilities |
|
(543 |
) |
|
|
(521 |
) |
|
|
(514 |
) |
Payments of acquisition related contingent consideration |
|
— |
|
|
|
— |
|
|
|
(12,225 |
) |
Taxes paid related to net share settlement of equity awards |
|
(1,848 |
) |
|
|
(2,207 |
) |
|
|
— |
|
Net cash used in financing activities |
|
(8,545 |
) |
|
|
(26,497 |
) |
|
|
(68,298 |
) |
Net increase (decrease) in cash and cash equivalents |
|
4,643 |
|
|
|
(14,940 |
) |
|
|
(21,634 |
) |
Cash and cash equivalents at beginning of period |
|
14,981 |
|
|
|
29,921 |
|
|
|
51,555 |
|
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
$ |
19,624 |
|
|
$ |
14,981 |
|
|
$ |
29,921 |
|
TRAEGER, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) |
||||||||
(Continued) |
Year-ended December 31, |
|||||||
|
2025 |
|
2024 |
|
2023 |
|||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: |
|
|
|
|
|
|||
Cash paid during the period for interest |
$ |
33,220 |
|
$ |
38,512 |
|
$ |
40,060 |
NON-CASH FINANCING AND INVESTING ACTIVITIES |
|
|
|
|
|
|||
Equipment purchased under finance leases |
$ |
450 |
|
$ |
292 |
|
$ |
460 |
Property, plant, and equipment included in accounts payable and accrued expenses |
$ |
2,748 |
|
$ |
678 |
|
$ |
3,975 |
TRAEGER, INC.
RECONCILIATIONS OF AND OTHER INFORMATION REGARDING NON-GAAP FINANCIAL MEASURES
(unaudited)
In addition to our results and measures of performance determined in accordance with
Each of Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per share, Adjusted EBITDA Margin, Adjusted Net Income (Loss) Margin, Adjusted Gross Margin, and Free Cash Flow are key performance measures that our management uses to assess our financial performance and are also used for internal planning and forecasting purposes. We believe that these non-GAAP financial measures are useful to investors and other interested parties in analyzing our financial performance because they provide a comparable overview of our operations across historical periods. In addition, we believe that providing each of Adjusted EBITDA and Adjusted Net Income (Loss), together with a reconciliation of Net Loss to each such measure, and providing Adjusted Net Income (Loss) per share, together with a reconciliation of Net Loss per share to such measure, and Adjusted EBITDA Margin, Adjusted Net Income (Loss) Margin, and Adjusted Gross Margin together with a reconciliation of Net Loss Margin and Gross Margin to such measures, and Free Cash Flow, together with a reconciliation of Net cash provided by operating activities to such measures, helps investors make comparisons between our company and other companies that may have different capital structures, different tax rates, and/or different forms of employee compensation. For example, due to finite-lived intangible assets included on our balance sheet following our corporate reorganization in 2017, we have significant non-cash amortization expense attributable to the nature of our capital structure.
Each of Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per share, Adjusted EBITDA Margin, Adjusted Net Income (Loss) Margin, and Adjusted Gross Margin are used by our management team as an additional measure of our performance for purposes of business decision-making, including managing expenditures, and evaluating potential acquisitions. Period-to-period comparisons of Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per share, Adjusted EBITDA Margin, Adjusted Net Income (Loss) Margin, and Adjusted Gross Margin help our management identify additional trends in our financial results that may not be shown solely by period-to-period comparisons of Net Loss or Loss from Continuing Operations or Net Loss per share or Net Loss Margin or Gross Margin. In addition, we may use Adjusted EBITDA in the incentive compensation programs applicable to some of our employees. Each of Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per share, Adjusted EBITDA Margin, Adjusted Net Income (Loss) Margin and Adjusted Gross Margin has inherent limitations because of the excluded items, and may not be directly comparable to similarly titled metrics used by other companies.
The following table presents a reconciliation of Gross Margin, the most directly comparable financial measure calculated in accordance with
|
Three Months Ended
|
|
Year-ended
|
||
Gross margin |
37.4 |
% |
|
39.2 |
% |
Add: Impact of restructuring costs recorded in cost of revenue |
2.1 |
% |
|
0.6 |
% |
Adjusted gross margin |
39.5 |
% |
|
39.8 |
% |
The following table presents a reconciliation of Net cash provided by operating activities, the most directly comparable financial measure calculated in accordance with
|
Year-ended December 31, |
||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
Net cash provided by operating activities |
$ |
20,520 |
|
|
$ |
23,888 |
|
|
$ |
64,042 |
|
Less: Purchase of property, plant, and equipment |
|
(6,934 |
) |
|
|
(11,996 |
) |
|
|
(19,946 |
) |
Free cash flow |
$ |
13,586 |
|
|
$ |
11,892 |
|
|
$ |
44,096 |
|
The following table presents a reconciliation of Net Loss, Net Loss Margin and Net Loss per share, the most directly comparable financial measures calculated in accordance with
|
Three Months Ended December 31, |
|
Year-ended December 31, |
||||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
||||||||
|
(dollars in thousands, except share and per share amounts) |
||||||||||||||
Net loss |
$ |
(17,200 |
) |
|
$ |
(6,958 |
) |
|
$ |
(115,181 |
) |
|
$ |
(34,008 |
) |
Adjustments: |
|
|
|
|
|
|
|
||||||||
Other income (1) |
|
(1,355 |
) |
|
|
(1,149 |
) |
|
|
(8,833 |
) |
|
|
(8,280 |
) |
Stock-based compensation |
|
2,778 |
|
|
|
4,837 |
|
|
|
15,254 |
|
|
|
27,901 |
|
Non-routine legal expenses (2) |
|
1 |
|
|
|
13 |
|
|
|
25 |
|
|
|
1,794 |
|
Amortization of acquisition intangibles (3) |
|
8,111 |
|
|
|
8,112 |
|
|
|
32,444 |
|
|
|
32,868 |
|
Goodwill impairment |
|
— |
|
|
|
— |
|
|
|
74,725 |
|
|
|
— |
|
Restructuring and other costs (4) |
|
15,270 |
|
|
|
— |
|
|
|
24,942 |
|
|
|
— |
|
Employee retention tax credit (5) |
|
— |
|
|
|
— |
|
|
|
(6,049 |
) |
|
|
||
Tax impact of adjusting items (6) |
|
(5,866 |
) |
|
|
(3,033 |
) |
|
|
(33,259 |
) |
|
|
(13,914 |
) |
Adjusted net income (loss) |
$ |
1,739 |
|
|
$ |
1,822 |
|
|
$ |
(15,932 |
) |
|
$ |
6,361 |
|
|
|
|
|
|
|
|
|
||||||||
Net loss |
$ |
(17,200 |
) |
|
$ |
(6,958 |
) |
|
$ |
(115,181 |
) |
|
$ |
(34,008 |
) |
Adjustments: |
|
|
|
|
|
|
|
||||||||
Benefit for income taxes |
|
(1,843 |
) |
|
|
(1,985 |
) |
|
|
(4,141 |
) |
|
|
(1,956 |
) |
Interest expense |
|
7,551 |
|
|
|
8,192 |
|
|
|
31,350 |
|
|
|
33,500 |
|
Depreciation and amortization |
|
13,285 |
|
|
|
14,251 |
|
|
|
54,137 |
|
|
|
56,327 |
|
Other (income) expense (7) |
|
(468 |
) |
|
|
11 |
|
|
|
(5,093 |
) |
|
|
(1,614 |
) |
Stock-based compensation |
|
2,778 |
|
|
|
4,837 |
|
|
|
15,254 |
|
|
|
27,901 |
|
Non-routine legal expenses (2) |
|
1 |
|
|
|
13 |
|
|
|
25 |
|
|
|
1,794 |
|
Goodwill impairment |
|
— |
|
|
|
— |
|
|
|
74,725 |
|
|
|
— |
|
Restructuring and other costs (4) |
|
15,270 |
|
|
|
— |
|
|
|
24,942 |
|
|
|
— |
|
Employee retention tax credit (5) |
|
— |
|
|
|
— |
|
|
|
(6,049 |
) |
|
|
— |
|
Adjusted EBITDA |
$ |
19,374 |
|
|
$ |
18,361 |
|
|
$ |
69,969 |
|
|
$ |
81,944 |
|
|
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
145,358 |
|
|
$ |
168,637 |
|
|
$ |
559,520 |
|
|
$ |
604,072 |
|
Net loss margin |
|
(11.8 |
)% |
|
|
(4.1 |
)% |
|
|
(20.6 |
)% |
|
|
(5.6 |
)% |
Adjusted net income (loss) margin |
|
1.2 |
% |
|
|
1.1 |
% |
|
|
(2.8 |
)% |
|
|
1.1 |
% |
Adjusted EBITDA margin |
|
13.3 |
% |
|
|
10.9 |
% |
|
|
12.5 |
% |
|
|
13.6 |
% |
|
|
|
|
|
|
|
|
||||||||
Net loss per diluted share |
$ |
(0.13 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.87 |
) |
|
$ |
(0.27 |
) |
Adjusted net income (loss) per diluted share |
$ |
0.01 |
|
|
$ |
0.01 |
|
|
$ |
(0.12 |
) |
|
$ |
0.05 |
|
Weighted average common shares outstanding - diluted |
|
135,321,683 |
|
|
|
129,174,440 |
|
|
|
133,095,964 |
|
|
|
127,443,657 |
|
(1) |
Represents realized and unrealized (gains) losses on the interest rate swap, including amortization of dedesignated cash flow hedge, (gains) losses on the disposal of property, plant, and equipment, and unrealized (gains) losses from foreign currency transactions and derivatives. |
(2) |
Represents external legal expenses incurred in connection with the defense of a class action lawsuit and intellectual property litigation.. |
(3) |
Represents the amortization expense associated with intangible assets recorded in connection with the 2017 acquisition of Traeger Pellet Grills Holdings LLC. |
(4) |
Represents restructuring and other costs in connection with Project Gravity primarily related to consulting fees, severance and other personnel costs, supplier settlement costs and other restructuring related costs. |
(5) |
Represents the total benefit recorded associated with the refund from the Internal Revenue Service in connection with the Employee Retention Tax Credit. |
(6) |
Represents the tax effect of non-GAAP adjustments calculated at an estimated blended statutory tax rate of |
(7) |
Represents realized and unrealized (gains) losses on the interest rate swap, (gains) losses on the disposal of property, plant, and equipment, and unrealized (gains) losses from foreign currency transactions and derivatives. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260305856572/en/
Investors:
Stephanie Read
Traeger, Inc.
investor@traeger.com
Media:
The Brand Amp
Traeger@thebrandamp.com
Source: Traeger, Inc.
