Latham Group, Inc. · NASDAQ:SWIM
Latham — Q2 2025 Earnings Presentation
12 slides from Latham's earnings presentation, Aug 5, 2025
Slide 1: Q2 2025 Earnings Call
Q2 2025 Earnings Call August 5, 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 - A Key Growth Driver
Expanding Share in the Sand States - A Key Growth Driver Expanding the Pool Dealer Base 1 • Driving pool builder expansion and development • Opportunities to “stand up” new builders and convert concrete builders to Fiberglass Targeting Master Planned Communities (MPC’s) 2 • Massive opportunity in Ma
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
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 Reconfirming 8% Net Sales Growth and 19% Adjusted EBITDA growth in a flat market (1) Represents guidance given by the Company
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 acquis
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 Two Fiscal Quarters Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 (in thousands) Net income $ 15,980 $ 13,279 $ 10,018 $ 5,415 Depreciation and amortization 12,697 10,593 25,097 20,967 Interest e
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations Net Debt and Net Debt Leverage Ratio (in thousands) June 28, 2025 Total debt $ 281,493 Less: Cash (26,943) Net Debt 254,540 LTM Adjusted EBITDA(1) 84,476 Net Debt Leverage Ratio 3.01 LTM Pro Forma Adjusted EBITDA(2) 86,204 Pro Forma Net Debt Leverage Ratio 2.95 (1) LTM Adjus
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,