Traeger, Inc. reported a slight decline in revenue for the fiscal year ended December 31, 2024, with total revenue of $604.1 million, down 0.3% from $605.9 million in 2023. The company experienced a net loss of $34.0 million, a significant improvement compared to the net loss of $84.4 million reported in the previous year. The decrease in revenue was primarily attributed to a decline in accessory sales, which fell by 16.5% to $160.1 million, while grill sales increased by 8.5% to $324.7 million, driven by unit volume growth and effective promotional strategies.
In terms of operational metrics, Traeger has made strides in improving its gross profit, which rose by 14.3% to $255.5 million, resulting in a gross margin increase to 42.3% from 36.9% in the prior year. This improvement was largely due to favorable supply chain costs and a reduction in warranty expenses related to a previous product recall. The company also reported a decrease in general and administrative expenses by 12.6%, reflecting a reduction in stock-based compensation costs.
Traeger continues to focus on expanding its market presence and product offerings. The company has sold approximately 2.7 million grills in the U.S. since 2020, representing a household penetration of only 3.6% of the estimated 76 million households that own a grill. The company’s omnichannel distribution strategy includes partnerships with major retailers such as The Home Depot and Amazon, as well as direct-to-consumer sales through its website and app, which has been installed on over 3.5 million devices.
Looking ahead, Traeger anticipates ongoing challenges due to macroeconomic conditions, including inflation and potential tariffs on imported goods. The company has implemented cost-saving initiatives and is exploring opportunities for geographic expansion and product innovation to drive future growth. Despite the current economic uncertainties, Traeger remains optimistic about its long-term prospects, emphasizing its commitment to enhancing customer engagement and expanding its product ecosystem.
About Traeger, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.