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Mar 31
Lazydays Q1 2025 Earnings Report
Lazydays reduced losses and improved gross margins across all product lines in Q1 2025.
Key Takeaways
Lazydays reported lower revenue due to dealership divestitures, but significantly narrowed net loss and improved operating margins. Adjusted EBITDA improved year-over-year, and the company enhanced its balance sheet by reducing debt through asset sales.
Revenue was $165.8 million, down from $270.1 million in Q1 2024 due to dealership divestitures.
Adjusted EBITDA improved to -$4.0 million from -$18.2 million year-over-year.
Gross profit margin rose to 26.4% from 14.0% in Q1 2024.
Lazydays repaid approximately $145 million in debt and reduced floor plan notes payable significantly.
Lazydays
Lazydays
Lazydays Revenue by Segment
Revenue by Segment
New Vehicle Retail Revenue
CapyFin.comPre-Owned Vehicle Retail Revenue
CapyFin.comVehicle Wholesale Revenue
CapyFin.comConsignment Vehicle Revenue
CapyFin.comFinance and Insurance Revenue
CapyFin.comService, Body & Parts Revenue
CapyFin.com Forward Guidance
Lazydays is focused on executing its turnaround plan with improved margins, debt reduction, and operational efficiency following the strategic divestiture of five dealerships.
Positive Outlook
- Gross profit margins increased across all product lines
- Adjusted EBITDA loss narrowed significantly year-over-year
- Debt reduced by approximately $145 million
- Improved cost structure from dealership divestitures
- Strong operating cash flow of $26 million in Q1
Challenges Ahead
- Revenue declined 39% YoY due to location divestitures
- Net loss remains at $9.5 million
- Vehicle wholesale segment continues to operate at a loss
- Reduced average units sold across new and used vehicles
- Still negative Adjusted EBITDA and limited EPS improvement
Revenue & Expenses
Visualization of income flow from segment revenue to net income