Traeger, Inc. · NYSE:COOK
Traeger — Q3 2025 Earnings Presentation
18 slides from Traeger's earnings presentation, Nov 6, 2025
Slide 1: Traeger Investor Presentation Third Quarter 2025
TRAEGER INVESTOR PRESENTATION " “THIRD QUARTER 2025 >
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, incl
Slide 3: Slide 3
Slide 4: Commentary
65.7 GOMMENTARY — . Today, we ar = rate savin e previously disc tal run-rate savings taygetot S50 m ion once fully implemen, I believe Project Gravity il be transformational to our business. The efficiencies, simplification and cost optimization that we believe will result from Gravity will unlock c
Slide 5: Traeger 3Q2025 at a Glance
AN TRAEGER 3Q2025 AT A GLANCE Revenue Mix $!25MM 38.7% Revenue Gross Margin S13.8MM 1.0% Adj. EBITDA © Adj. EBITDA Margin =Grills =Consumables = Accessories Ah TRAEGER
Slide 6: Growth Pillars: Quarterly Highlights
GROWTH PILLARS: QUARTERLY HIGHLIGHTS Accelerate Brand Awareness + Expanded growth in follower count across social platforms, up 5% versus 3Q 2024 + Continued partnership with Budweiser/Bud Light for their “Grill Like a Pro” campaign by launching the “Traegerator”, a unique keg-meets-Traeger grill th
Slide 7: Tariff Mitigation Update
TARIFF MITIGATION UPDATE SUPPLY CHAIN CcosT MANAGEMENT PRICING INVENTORY MANAGEMENT oh TRAEGER Successful resumption of direct import ordering driven by implementation of First Sale Further diversifying production outside of China to increase resilience from additional potential shifts in tariff pol
Slide 8: Project Gravity
PROJECT GRAVITY Project Gravity is a strategic enterprise initiative designed to streamline operations, enhance organizational efficiency, and simplify the business. Project Gravity will be largely implemented through the end of 2026 and is structured in two phases. Reduction in force Current strate
Slide 9: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS SUMMARY SNAPSHOT SMM SI67MM vs. SI77MM in 3Q 2024 $398MM vs. $399MM in 3Q 2024 Ample liquidity exiting 3Q 2025 Balance sheet health is a key priority for management and is supported by ongoing profitability measures Ah TRAEGER
Slide 10: Financials
FINANCIALS
Slide 11: 3rd Quarter 2025 Revenue Results
3'¢ QUARTER 2025 REVENUE RESULTS TOTAL REVENUE SMM oe —~ $i22 $i25 3Q 2024 3Q 2025 GRILLS REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE SMM SMM SMM —@. $75 $77 a — a ==> $23 $25 $25 $24 3a 2024 3a 2025 3Q 2024 3Q 2025 3Q 2024 3Q 2025 Ah TRAEGER
Slide 12: 3rd Quarter 2025 Profitability Results
3'¢ QUARTER 2025 PROFITABILITY RESULTS GROSS PROFIT “ <&> @®® Gross Margin $52 3Q 2024 ADJUSTED EBITDA © $MM <> Adjusted EBITDA Margin $i2 3Q 2025 Si4 3Q 2024 ADJUSTED NET LOSS © SMM 3Q 2025 ($7) 3Q 2024 } TRAEGER ()) 3Q 2025
Slide 13: Guidance for Full Year Fiscal 2025
GUIDANCE FOR FULL YEAR FISCAL 2025 FISCAL 2025 GUIDANCE METRIC Total Revenue Gross Margin Adj. EBITDA © Ah TRAEGER LOW $540MM 40.5% S66MM HIGH $555MM 41.5% $73MM KEY ASSUMPTIONS: * Grill revenues expected to decline in the high-single digit percentage range, driven by the expected impact on volumes
Slide 14: Appendix
APPENDIX TRAEGER
Slide 15: Footnotes
FOOTNOTES |. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. See the appendix to this presentation for a presentation of, and a reconciliation of these measures to, the nearest comparable GAAP measures, including Net Loss, and Net Loss Margin, respectively. A reconciliation of Adju
Slide 16: Information Regarding Non-GAAP Financial Measures
INFORMATION REGARDING NON-GAAP FINANCIAL MEASURES In addition to our results and measures of performance determined in accordance with U.S. GAAP, we believe that certain non-GAAP. financial measures are useful in evaluating and comparing our financial and operational performance over multiple period
Slide 17: Reconciliation of Debt to Net Debt
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES RECONCILIATION OF DEBT TO NET DEBT ‘September 30, 2025 250 399,304 3,833 (6866) $397,521 Pe TRAEGER 7
Slide 18: Reconciliations of Non-GAAP Financial Measures
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 (dollars in thousands, except share and per share amounts) Net loss (CE) (19,789) (97.580 (27.050) ‘Adjustments: Other (inc