In This Story
Traeger, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $122,050,000 from $117,730,000 in the same quarter the previous year. This increase is attributed to higher sales of grills, offset by lower sales of consumables and accessories.
Cost of revenue for the quarter was $70,362,000, compared to $73,064,000 in the same quarter of the previous year, resulting in a gross profit of $51,688,000, up from $44,666,000.
Sales and marketing expenses increased slightly to $26,162,000 from $25,913,000, while general and administrative expenses decreased to $24,135,000 from $24,823,000.
Net loss for the quarter was $19,789,000, compared to a net loss of $19,261,000 in the previous year. The company attributes this to increased interest expenses and other income (expense) changes.
Cash provided by operating activities was $16,416,000, while cash used in investing and financing activities was $10,233,000 and $19,232,000, respectively.
Traeger had a working capital of $217,064,000 as of September 30, 2024. The company continues to focus on managing its financial resources to support its operations.
The filing also details various financial agreements, including amendments to the Receivables Financing Agreement and the First Lien Credit Agreement.
Traeger does not anticipate cash dividend payments to common stockholders in the near future.
The company highlights its dependence on a few major retailers for a significant portion of its sales and acknowledges the impact of macroeconomic conditions on consumer demand.
Traeger continues to focus on expanding its product offerings and improving operational efficiencies to drive future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Traeger Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.