Traeger, Inc. · NYSE:COOK
Traeger — Q1 2025 Earnings Presentation
20 slides from Traeger's earnings presentation, May 1, 2025
Slide 1: Fourth Quarter 2024 and Full Year 2024
- RAEGER = aan -TRAEGER 4 FOURT i te B 2024 AND F Sa. YEAR 2024 ;
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: CEO Commentary
CEO COMMENTARY “I am pleased with our solid finish to Fiscal 2024. In the fourth quarter, our grill revenues were better than expected, driven by healthy consumer demand at retail as well as load in of our new Woodridge series of wood pellet grills. We again saw significant gross margin expansion, w
Slide 5: 2024 Highlights
2024 HIGHLIGHTS Inflected to positive revenue growth in Grills and gained market share Launched Woodridge series of wood pellet grills bringing significant innovation to the market at accessible price points Gross Margin growth of 540bps driven by supply chain efficiencies and lower transportation c
Slide 6: Traeger 2024 At A Glance
AN TRAEGER 2024 AT A GLANCE Revenue Mix S604MM 42.3% Revenue Gross Margin $8!1.9MM 13.6% Adj. EBITDA © Adj. EBITDA Margin =Grills =Accessories Consumables oh TRAEGER
Slide 7: Growth Pillars: Quarterly Highlights
GROWTH PILLARS: QUARTERLY HIGHLIGHTS Accelerate Brand Awareness + Drove more than 50% growth in YouTube subscribers, driven by launch of Traeger Kitchen * Partnered with Bulleit Frontier Whiskey for a holiday collaboration, including a two-part video series that paired chefs and bartenders to craft
Slide 8: FY 2025 Gross Margin Expected To Increase
(1) • FY 2025 gross margin expected to increase to 42.5% at midpoint of guidance, building on significant margin improvement over the last two years • Significant recapture of margin in FY 2023 and FY 2024 driven by normalization of supply chain costs as well as margin- enhancing initiatives, includ
Slide 9: Balance Sheet And Cash Flow Highlights
BALANCE SHEET AND CASH FLOW HIGHLIGHTS SUMMARY SNAPSHOT SMM QUARTER-END LIQUIDITY NET DEBT ® CASH FLOW FROM OPERATIONS oh TRAEGER $i65 MM vs. S157 MM in 4Q 2023 $394 MM vs. $402 MM in 4Q 2023 $24 MM in FY 2024 LEVERAGE OVER L2Y x Adj. EBITDA © 1Q 2023 2Q2023 3Q2023 492023 12024 2Q2024 3Q2024 402024
Slide 10: Financials
FINANCIALS
Slide 11: 4th Quarter 2024 Revenue Results
4% QUARTER 2024 REVENUE RESULTS TOTAL REVENUE $MM $163 =] $169 4Q 2023 4Q 2024 GRILL REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE SMM SMM $MM 25 $60 $ $60 4Q 2023 4Q 2024 4Q 2023 4Q 2024 4Q 2023 4Q 2024 IN TRAEGER
Slide 12: 4th Quarter 2024 Profitability Results
4% QUARTER 2024 PROFITABILITY RESULTS GROSS PROFIT SMM @® Gross Margin $60 $69 | 4Q 2023 ADJUSTED EBITDA © $MM &> @® Adjusted EBITDA Margin $13 4Q 2024 Sis | rc t$§wLCU 4Q 2023 ADJUSTED NET INCOME (LOSS) @ SMM 4Q 2024 $2 ($9) 4Q 2023 } TRAEGER 4Q 2024
Slide 13: Fiscal Year 2024 Revenue Results
FISCAL YEAR 2024 REVENUE RESULTS TOTAL REVENUE SMM $606 @ = FY 2023 GRILL REVENUE CONSUMABLES REVENUE SMM SMM 0 @- $325 1» @- $119 FY 2023 FY 2024 FY 2023 FY 2024 Ih TRAEGER FY 2024 ACCESSORIES REVENUE SMM $i92 $i60 FY 2023 FY 2024
Slide 14: Fiscal Year 2024 Profitability Results
FISCAL YEAR 2024 PROFITABILITY RESULTS GROSS PROFIT Siew @® Gross Margin $224 $255 FY 2023 ADJUSTED EBITDA © $MM C 10.76 @® Adjusted EBITDA Margin SéI $82 FY 2023 ADJUSTED NET INCOME (LOSS) @) SMM FY 2024 $6 (x) FY 2023 } TRAEGER FY 2024
Slide 15: Guidance For Full Year Fiscal 2025
GUIDANCE FOR FULL YEAR FISCAL 2025 Fiscal 2025 Guidance Key Assumptions: METRIC LOW HIGH * Guidance does not include the impact of recently implemented or proposed tariffs Total Revenue S595MM S6I5MM * Grill revenues are expected to increase low single digits + Consumables revenues are expected to G
Slide 16: Appendix
APPENDIX TRAEGER
Slide 17: Footnotes
FOOTNOTES |. Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Gross 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, Net Loss Margin, and Gross Margin,
Slide 18: 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 19: Presentation Of Comparable GAAP Measures And Reconciliations Of Non-GAAP Financial Measures
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES Ih TRAEGER RECONCILIATION OF DEBT TO NET DEBT (dollars in thousands) December 31, 2024 Line of credit $5,000 Current portion of notes payable 250 Notes payable, net of current portion 398,445 ‘Add: Debt issua
Slide 20: Presentation Of Comparable GAAP Measures And Reconciliations Of Non-GAAP Financial Measures
PRESENTATION OF COMPARABLE GAAP MEASURES AND RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES oh TRAEGER Three Months Ended December 3i, Year-ended December 31 2024 2023 2024 2023 Net loss S___6958) S__ 4045) S__ 4,008) S__ (64,402) ‘Adjustments: Other (income) expense" (W149) 720 (8,280) (5,58) Restr