Latham Group, Inc. · NASDAQ:SWIM
Latham — Q1 2025 Earnings Presentation
12 slides from Latham's earnings presentation, May 6, 2025
Slide 1: Q1 2025 Earnings Presentation
Q1 2025 Earnings Presentation May 6, 2025
Slide 2: Disclaimer
Disclaimer Forward-looking Statements Certain statements in this presentation constitute forward-looking statements under federal securities laws. These forward-looking statements reflect our views with respect to future events and financial performance as of the date of this presentation or otherwi
Slide 3: Latham: A Compelling Long-term Growth Story
Serving a large and attractive market benefitting from fiberglass and autocover category share gains The leading consumer brand in the residential pool market Latham: A Unique direct-to-homeowner model driving business for our dealer partners Compelling Long-term 1 Broadest portfolio of branded prod
Slide 4: Balanced Portfolio Serving an Attractive Market
Balanced Portfolio Serving an Attractive Market Net Sales Fiberglass as a Replacement Sales as a by Product(1) % of In-Ground Pool Sales(1) % of Liners & Covers(1)(2) 23% Liners 25% 49% includes new Packaged Pools New and replacement vinyl liners 26% 51% Covers In-Ground Swimming Pools includes wint
Slide 5: Expanding Share in the Sand States - A Key Growth Driver
Expanding Share in the Sand States - A Key Growth Driver Expanding the Pool Dealer Base 1 • Driving pool builder expansion and development • Opportunities to “stand up” new builders and convert concrete builders to Fiberglass Targeting Master Planned Communities (MPC’s) 2 • Massive opportunity in Ma
Slide 6: 2025 Outperformance
2025 Outperformance Forecasting continued market trough; New U.S. pool starts flat vs. 2024 Drivers of Latham’s Outperformance vs. The Market: Accelerating Fiberglass Share Gains Nationally and in the Sand States 1 Increased Awareness and Adoption of Automatic Safety Covers 2 Benefits from Coverstar
Slide 7: Full Year 2025 Outlook
Full Year 2025 Outlook(1) $ in millions 2025 Outlook YoY Growth @ Metric Low High Midpoint Net Sales $535 $565 8% Adjusted EBITDA(2) $90 $100 19% Capital Expenditures $27 $33 Maintaining forecast for flat YoY new in-ground pool installations in 2025 (1) Represents guidance given by the Company as of
Slide 8: Impact of Growth Initiatives & Production Efficiencies
Impact of Growth Initiatives & Production Efficiencies Growth Trajectory Initiatives (in millions, except for Adjusted EBITDA Margin) 1. Drive growth in Fiberglass share in the Sand States 21% 2. Drive growth in Automatic Safety Covers, aided by the Coverstar 19% Central, New York & Tennessee acquis
Slide 9: Appendix
Appendix Latham Group SWIM | Nasdaq Listed
Slide 10: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted EBITDA and Adjusted EBITDA Margin Fiscal Quarter Ended March 29, 2025 March 30, 2024 (in thousands) Net loss $ (5,962) $ (7,864) Depreciation and amortization 12,400 10,375 Interest expense, net 6,371 4,982 Income tax (benefit) expense (4,079) 532 (Gain) loss on sal
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations Net Debt and Net Debt Leverage Ratio (in thousands) March 29, 2025 Total debt $ 306,913 Less: Cash (23,966) Net Debt 282,947 LTM Adjusted EBITDA(1) 79,065 Net Debt Leverage Ratio 3.6 LTM Pro Forma Adjusted EBITDA(2) 84,514 Pro Forma Net Debt Leverage Ratio 3.3 (1) LTM Adjust
Slide 12: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted EBITDA and Adjusted EBITDA Margin Year Ended December 31, 2024 2019 2015 (unaudited) (in thousands) Net (loss) income $ (17,860) $ 7,457 $ (9,992) Depreciation and amortization 44,446 21,659 14,466 Interest expense 24,840 22,639 8,228 Income tax expense (benefit) 9,