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Dec 31, 2023
Lazydays Q4 2023 Earnings Report
Reported financial results for the fourth quarter ended December 31, 2023.
Key Takeaways
Lazydays reported a decrease in revenue to $198.0 million from $243.5 million in Q4 2022. The company recorded a net loss of $108.0 million, which includes a non-cash goodwill impairment charge of $118.0 million.
Q4 2023 revenue decreased to $198.0 million from $243.5 million in Q4 2022.
Net loss for Q4 2023 was $108.0 million, compared to a net loss of $1.4 million for the same period in 2022.
Adjusted net loss for Q4 2023 was $13.8 million, compared to net income of $0.9 million for the same period in 2022.
Company estimates these stores will add $110.0 million in annual revenues at steady state.
Lazydays
Lazydays
Lazydays Revenue by Segment
Revenue by Segment
New Vehicle Retail Revenue
CapyFin.comPre-Owned Vehicle Retail Revenue
CapyFin.comVehicle Wholesale Revenue
CapyFin.comFinance and Insurance Revenue
CapyFin.comService, Body & Parts Revenue
CapyFin.com Forward Guidance
Lazydays anticipates a pre-tax loss in the first quarter and a return to profitability thereafter. For the full year 2024, the company anticipates both positive net income and operational cash flow.
Positive Outlook
- Anticipate a return to profitability after the first quarter.
- Expect positive net income for the full year 2024.
- Expect operational cash flow to be positive for the full year 2024.
- Locations are of high quality.
- Partnerships with OEMs are strong.
Challenges Ahead
- Anticipate a pre-tax loss in the first quarter.
- Challenging operating environment due to industry wide economic pressures
- Decline in the price of our common equity in the fourth quarter of 2023
- Focus on improving volume and store performance in the first six months of 2024
- Reduction in cash balance from year end is primarily a function of capital expenditures
Revenue & Expenses
Visualization of income flow from segment revenue to net income