Traeger, Inc. · NYSE:COOK
Traeger — Q1 2026 Earnings Presentation
17 slides from Traeger's earnings presentation, May 11, 2026
Slide 1: Investor Presentation First Quarter 2026
INVESTOR PRESENTATION FIRST QUARTER 2026
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: 3
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Slide 4: Our Mission is to Create a More Flavorful World
CEO COMMENTARY ”We entered the peak selling season with encouraging early demand signals, including year-to-date consumer sell-through tracking slightly above our expectations and continued strong engagement across the Traeger community. We’re leaning into demand creation with increased influencer i
Slide 5: 1Q 2026 at a Glance
1Q 2026 AT A GLANCE Revenue Mix $94.1MM 45.7% Revenue Gross Margin 21.9% 50.3% 27.8% $17.3MM 18.4% Adj. EBITDA (1) Adj. EBITDA Margin (1) Grills Consumables Accessories 5
Slide 6: Introducing the All-New Westwood Series
INTRODUCING THE ALL-NEW WESTWOOD SERIES • New grill lineup designed to cascade Traeger innovation into a more accessible segment of the market STRATEGIC • Bringing the Traeger experience to more households at a lower entry price point RELEVANCE • Keeps the connected capabilities, performance, and 7-
Slide 7: Introducing the All-New Irontop Series
INTRODUCING THE ALL-NEW IRONTOP SERIES • Brings Traeger innovation into a more accessible griddle price tier STRATEGIC • Unlocks a larger segment of the category and broadening our reach to new consumers RELEVANCE • Direct response to consumer feedback — better build quality, more even heat, and rel
Slide 8: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS SUMMARY SNAPSHOT $MM $184MM • Free cash flow(4) of $14.5 million in 1Q26, supported by a QUARTER-END vs. 31% reduction in inventory year-over-year and an $11.6 LIQUIDITY $168MM million employee retention credit in 1Q 2025 • Ample liquidity exiting 1Q26 • Currently undrawn on
Slide 9: Financials
FINANCIALS
Slide 10: 1st Quarter 2026 Revenue Results
1st QUARTER 2026 REVENUE RESULTS TOTAL REVENUE $MM (34.3%) $143 $94 1Q 2025 1Q 2026 GRILLS REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE $MM $MM $MM (45.4%) $87 (13.7%) (21.8%) $30 $47 $26 $26 $21 1Q 2025 1Q 2026 1Q 2025 1Q 2026 1Q 2025 1Q 2026 10
Slide 11: 1st Quarter 2026 Profitability Results
1st QUARTER 2026 PROFITABILITY RESULTS GROSS PROFIT $MM 41.5% 45.7% Gross Margin $59 $43 1Q 2025 1Q 2026 ADJUSTED EBITDA (1) $MM 15.7% 18.4% Adjusted EBITDA Margin (1) $23 $17 1Q 2025 1Q 2026 ADJUSTED NET INCOME (3) $MM $7 $4 1Q 2025 1Q 2026 11
Slide 12: Guidance for Full Year Fiscal 2026
GUIDANCE FOR FULL YEAR FISCAL 2026 FISCAL 2026 GUIDANCE KEY ASSUMPTIONS: METRIC LOW HIGH • Reflects anticipated benefits from Project Gravity in 2026 (approx. $50 million of total value capture, $30 million incremental in 2026). Total Revenue $465MM $485MM • Adjusted EBITDA and gross margin guidance
Slide 13: Appendix
APPENDIX TRAEGER
Slide 14: Footnotes
FOOTNOTES 1. 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 Income (Loss), and Net Income (Loss) Margin, respectively. A reco
Slide 15: 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 periods
Slide 16: Presentation of Comparable GAAP Measures and Reconciliations of Non-GAAP Financial Measures
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES RECONCILIATION OF DEBT TO NET DEBT March 31, (dollars in thousands) 2026 Line of credit - Current portion of notes payable 250 Notes payable, net of current portion 399,876 Add: Debt issuance costs 3,136 Less
Slide 17: Presentation of Comparable GAAP Measures and Reconciliations of Non-GAAP Financial Measures
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES Three Months Ended March 31, 2026 2025 (dollars in thousands, except share and per share amounts) Net income (loss) $ 2,928 $ (778) Adjustments: Other (income) expense (1) 12 (3,417) Stock-based compensation