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Lazydays Holdings Inc. (GORV-7.07%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details a net loss of $179.963 million for the year, with a significant impairment charge of $39.093 million related to certain long-lived assets held for sale.
Revenue for the year was $871.562 million, a decrease from $1.082 billion in the previous year, attributed to a decline in both new and pre-owned vehicle sales.
New vehicle retail revenue was $513.014 million, down 18.8% from the previous year, while pre-owned vehicle retail revenue fell 30.4% to $224.855 million.
Finance and insurance revenue saw a slight increase to $63.394 million, driven by higher warranty product sales.
Operating expenses, including selling, general, and administrative expenses, were $200.087 million, a slight increase from the previous year.
Lazydays closed several dealership sales as part of its strategy to streamline operations, including sales to Camping World Holdings, Inc.
The company reported cash and cash equivalents of $24.7 million as of December 31, 2024, with total liabilities of $602.481 million.
The filing also notes a material weakness in internal controls over financial reporting, which management is actively working to remediate.
Lazydays is addressing a Nasdaq deficiency notice regarding its stock price, with a compliance deadline set for July 22, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lazydays Holdings Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.