Duluth Holdings Inc. · NASDAQ:DLTH
Duluth — Q1 2025 Earnings Presentation
15 slides from Duluth's earnings presentation, Jun 5, 2025
Slide 1: Investor Presentation First Quarter 2025
Investor Presentation First Quarter 2025 June 5, 2025
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts included in this press release, including statements concerning Duluth T
Slide 3: Disclaimer: Non-GAAP Measurements
Disclaimer Non-GAAP Measurements Management believes that non-GAAP financial measures may be useful in certain instances to provide additional meaningful comparisons between current results and results in prior operating periods. Within this presentation, reference is made to adjusted net loss and a
Slide 4: Introduction to Duluth Trading Co.
INTRODUCTION TO DULUTH TRADING CO.
Slide 5: Our Greater Purpose
OUR GREATER PURPOSE “Celebrating the can-do spirit by enabling anyone who takes on life with their own two hands.” OUR MISSION STATEMENT “We build high-quality, solution-based products for work, play and every day. We craft our raw materials – unique brands, durable products, standout customer servi
Slide 6: Secret Sauce
Secret Sauce Better Brands A brood of sub-brands all bonded by the belief that you can accomplish anything that you put your own mind and own two hands to Better Innovation Long, colorful history of product innovation and solution-based design Better Marketing Distinctive marketing made to break thr
Slide 7: Financial Review
FINANCIAL REVIEW
Slide 8: Q1 2025 Financial Summary & Fiscal 2025 Outlook
Q1 2025 Financial Summary & Fiscal 2025 Outlook Summary ● Net sales of $102.7 million ● Net loss of $15.3 million and adjusted net loss1 of $10.8 million, compared to net loss of $7.9 million in the prior year first quarter ○ Adjusted net loss of $10.8 million excludes $4.1 million related to additi
Slide 9: Three Months Ended May 4, 2025
Three Months Ended May 4, 2025 (12.0%) (13.4%) 52.8% Margin 52.0% 1.6% Margin (3.7%) (6.7%) Margin (10.5%) Net Sales Gross Profit Adjusted EBITDA1,2 Adjusted Net Loss3,4 ($ in millions) ($ in millions) ($ in millions) ($ in millions) 1 Adjusted to reflect the add-back of long-term incentive, and imp
Slide 10: Strong Balance Sheet, Liquidity and Free Cash Flow
Strong Balance Sheet, Liquidity and Free Cash Flow Debt to Capital 1,2 Free Cash Flow3 ($ in millions) As of May 4, 2025 Cash and Cash Equivalents $8.6 Debt: Line of Credit $64.0 Term Loan $0.0 Total Debt $64.0 Total Shareholders’ Equity $167.9 Total Capitalization $231.9 Debt to Capital ratio 27.6%
Slide 11: Net Sales and Adjusted EBITDA
Net Sales and Adjusted EBITDA 1 Adjusted to reflect the add-back of long-term incentive, restructuring, and impairment expenses. 11
Slide 12: Capital Expenditures
Capital Expenditures Capital Expenditures ($ in millions) Initiatives 15 New 4 New Salt Lake 2 New Adairsville FC Stores Stores City FC Stores 1 New Website Technology Roadmap Store re-platform 12
Slide 13: Thank You
THANK YOU
Slide 14: Appendix: Reconciliation to 2025 Adjusted EBITDA and Free Cash Flow
Appendix Reconciliation to 2025 Adjusted EBITDA and Free Cash Flow Adjusted EBITDA Free Cash Flow 3 Months Ended 3 Months Ended ($ in millions) May 4, 2025 Apr 28, 2024 ($ in millions) May 4, 2025 Apr 28, 2024 Net cash used in operating Net loss $(15.3) $(7.9) $(56.5) $(33.7) activities Purchases of
Slide 15: Appendix: Reconciliation to 2025 Adjusted Net Loss
Appendix Reconciliation to 2025 Adjusted Net Loss Adjusted Net Loss 3 Months Ended ($ in millions) May 4, 2025 Amount Per share Net loss $(15.3) $(0.45) (+) Impairment expenses 0.5 0.02 Income tax effect of impairment (0.1) (0.00) Adjusted net loss before valuation allowance $(14.9) $(0.44) (+) Valu