Latham Group, Inc. · NASDAQ:SWIM
Latham — Q3 2025 Earnings Presentation
12 slides from Latham's earnings presentation, Nov 4, 2025
Slide 1: Q3 2025 Earnings Call
Q3 2025 Earnings Call November 4, 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 – Year-to-Date Achievements
Expanding Share in the Sand States – Year-to-Date Achievements 1 Expanding the Pool Dealer Base • Broadened our reach through new dealer sign-ups in priority-market Florida Targeting Master Planned Communities (MPC’s) 2 • Latham now present in several MPC’s in Florida Aligning Products with Demand 3
Slide 6: Drivers of Latham's Outperformance vs. The Market
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 Central, Coverstar New York, and Coverstar Tennessee acquisitions 3 2025 Market Expectations
Slide 7: Full Year 2025 Outlook - Narrowing Net Sales, Adj. EBITDA, & CapEx Guide
Full Year 2025 Outlook(1) - Narrowing Net Sales, Adj. EBITDA, & CapEx Guide 2025 Outlook $ in millions Updated Prior YoY Growth YoY Growth @ Metric Low High Low High @ Midpoint Midpoint Net Sales $540 $550 7% $535 $565 8% Adjusted EBITDA(2) $92 $98 19% $90 $100 19% Capital $22 $24 $27 $33 Expenditur
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 acqui
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 Three Fiscal Quarters Ended September 27, September 28, September 27, September 28, 2025 2024 2025 2024 (in thousands) Net income $ 8,117 $ 5,896 $ 18,135 $ 11,310 Depreciation and amortization 12,881 11,323 37,
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations Net Debt and Net Debt Leverage Ratio (in thousands) September 27, 2025 Total debt $ 281,073 Less: Cash (70,518) Net Debt 210,555 LTM Adjusted EBITDA(1) 92,976 Net Debt Leverage Ratio 2.3 (1) LTM Adjusted EBITDA is defined as Adjusted EBITDA for the most recent twelve (12) mo
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,