Traeger, Inc. · NYSE:COOK
Traeger — Q2 2026 Earnings Presentation
15 slides from Traeger's earnings presentation, Aug 5, 2026
Slide 1: Investor Presentation Second Quarter 2026
INVESTOR PRESENTATION SECOND 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
3
Slide 4: Our Mission is to Create a More Flavorful World
CEO COMMENTARY "As we've discussed throughout 2026, this is a transition period for Traeger as we execute Project Gravity and build a stronger, more focused company for the long term. Core elements of our thesis remain intact: consumer engagement is strong, key consumer metrics remain healthier than
Slide 5: 2Q 2026 at a Glance
2Q 2026 AT A GLANCE Revenue Mix $120.2MM 39.5% Revenue Gross Margin 21.5% 51.2% 27.3% $17.3MM 14.4% Adj. EBITDA (1) Adj. EBITDA Margin (1) Grills Consumables Accessories 5
Slide 6: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS SUMMARY SNAPSHOT $MM $188MM • Free cash flow(4) of $26 million in 2Q26, supported by $16 QUARTER-END vs. million IEEPA tariff refund LIQUIDITY $180MM in 2Q 2025 • Ample liquidity exiting 2Q26 • Currently undrawn on our $82.5 million revolver and do not anticipate using it th
Slide 7: Financials
FINANCIALS
Slide 8: 2nd Quarter 2026 Revenue Results
2nd QUARTER 2026 REVENUE RESULTS TOTAL REVENUE $MM $145 (17.4%) $120 2Q 2025 2Q 2026 GRILLS REVENUE CONSUMABLES REVENUE ACCESSORIES REVENUE $MM $MM $MM (17.0%) (9.9%) (26.2%) $74 $36 $35 $62 $33 $26 2Q 2025 2Q 2026 2Q 2025 2Q 2026 2Q 2025 2Q 2026 8
Slide 9: 2nd Quarter 2026 Profitability Results
2nd QUARTER 2026 PROFITABILITY RESULTS GROSS PROFIT $MM 39.2% 39.5% Gross Margin $57 $47 2Q 2025 2Q 2026 ADJUSTED EBITDA (1) $MM 14.4% 9.8% Adjusted EBITDA Margin (1) $17 $14 2Q 2025 2Q 2026 ADJUSTED NET INCOME (LOSS) (3) $MM $1.4 ($1.9) 2Q 2025 2Q 2026 9
Slide 10: Guidance for Full Year Fiscal 2026
GUIDANCE FOR FULL YEAR FISCAL 2026 UPDATED FISCAL 2026 GUIDANCE KEY ASSUMPTIONS: METRIC LOW HIGH • Revenue guidance reduced primarily due to additional softness in the MEATER business and anticipated near-term channel impacts Total Revenue $435MM $465MM associated with the Company's distribution Pri
Slide 11: Appendix
APPENDIX TRAEGER
Slide 12: 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 Loss, and Net Loss Margin, respectively. A reconciliation of Adju
Slide 13: 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 14: 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 June 30, (dollars in thousands) 2026 Line of credit - Current portion of notes payable 250 Notes payable, net of current portion 400,162 Add: Debt issuance costs 2,788 Less:
Slide 15: 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 June 30, 2026 2025 (dollars in thousands, except share and per share amounts) Net loss $ (8,563) $ (7,384) Adjustments: Other (income) expense (1) 281 (2,685) Stock-based compensation 3,527