Latham Group, Inc. · NASDAQ:SWIM
Latham — William Blair Growth Stock Conference 2025
18 slides from Latham's conference presentation, June 2025
Slide 1: Investor Presentation
Investor Presentation William Blair Growth Stock Conference June 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
The largest manufacturer of in-ground swimming pools in North 1 America, Australia, and New Zealand, with broadest portfolio known for quality, durability, and aesthetics Market leader in fiberglass pools and autocovers – two growing product categories Latham: A Compelling Executing Sand State strat
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 w
Slide 5: Latham's Strategic Priorities
Latham’s Strategic Priorities Accelerating Fiberglass Share Gain in the Sand States along with ongoing market penetration 1 Continuing to Drive Awareness and Adoption of Autocovers 2 Full Roll-Out of “Measure by Latham” for Pool Liners & Winter Covers 3 These Drivers Support: Our goal of continuing
Slide 6: Fiberglass: The Future of the In-Ground Pool Industry
Fiberglass: The Future of the In-Ground Pool Industry Premium quality and exceptional design 1 With impressive strength that outperforms concrete and our proprietary stunning finishes, our fiberglass pools are the most durable and attractive swimming pools in the market Buy today, swim tomorrow 2 Fi
Slide 7: Fiberglass: Significant Opportunity to Accelerate Material Conversion
Fiberglass: Significant Opportunity to Accelerate Material Conversion Fiberglass Share of Pool Installations International Fiberglass Market Penetration (1) (% of residential in-ground swimming pools) (% of residential in-ground swimming pools) 70% U.S. penetration increased 7%pts over 5 years 22% 2
Slide 8: Market Leader in Growing Autocover Product Category
Market Leader in Growing Autocover Product Category Autocover Benefits 1 • Unparalleled safety and cost savings for homeowners – reduced heating and electricity costs and water and chemical use. Can be fitted to all pool types: Fiberglass, Concrete and Vinyl Opportunity 2 • Autocovers represent a la
Slide 9: Fiberglass: Sand States Overview
Fiberglass: Sand States Overview
Slide 10: Sand State Strategy | Driving Fiberglass Adoption
Sand State Strategy | Driving Fiberglass Adoption Vast Majority of U.S. In-Ground Pool Sales Happen in the Sand States - FL, TX, AZ & CA 2024 New In-Ground Pools by State (1) 2024 Pool Starts by State (2) 2024 Latham Fiberglass Pools (3) 62K Non-Sand States Florida Non- Pools 22K Pools 17K Pools 35%
Slide 11: Expanding Share in the Sand States – A Key Growth Driver
Expanding Share in the Sand States – A Key Growth Driver Keys to Fiberglass Penetration in the Sand States: • Increasing Consumer & Pool Builder Awareness • Creating Installation Capacity Expanding the Pool Dealer Base • Driving pool builder expansion and development • Opportunities to “stand up” ne
Slide 12: Targeting FL and TX Master Planned Communities
Targeting FL and TX Master Planned Communities Sand State Master Planned Communities Present A Massive Growth Opportunity Silverleaf The Villages Silverado Miranda Viera Lakewood Ranch Mission Ridge Marvida Bridgeland Santa Rita Wellen Park Sunterra Traditional Baytown Master Planned Community Babco
Slide 13: Financial Overview
Financial Overview Latham Group SWIM | Nasdaq Listed
Slide 14: Continued Productivity Gains | Improved Cost Structure
Continued Productivity Gains | Improved Cost Structure Drove Meaningful Cost Structure Improvements Since 2023 (in millions) $22 Lean Manufacturing / Value Engineering Restructuring $14 $20 $5 $9 Q1: $2M $2 2023 2024 2025E 14
Slide 15: Full Year 2025 Outlook
Full Year 2025 Outlook (1) $ in millions 2025 Outlook YoY Growth @ Metric Low High Midpoint Net Sales $535 $565 8% Adjusted EBITDA(2) $90 $100 19% Capital Expenditures $27 $33 Maintaining forecast for flat YoY new in-ground pool installations in 2025 (1) Represents guidance given by the Company as o
Slide 16: 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 acquis
Slide 17: Appendix
Appendix Latham Group SWIM | Nasdaq Listed
Slide 18: 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,
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