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Dec 31, 2024
Lazydays Q4 2024 Earnings Report
Lazydays reported a significant decline in revenue and continued losses in Q4 2024.
Key Takeaways
Lazydays faced a challenging fourth quarter in 2024, with a notable decline in revenue and deepening losses, including impairment charges and a loss from changes in warrant liability values.
Q4 revenue declined to $159.9 million from $198.0 million YoY.
Net loss narrowed slightly to $96.1 million from $108.0 million in Q4 2023.
Adjusted EBITDA was a loss of $24.3 million, down from $10.7 million loss YoY.
Impairment charges of $39.1 million significantly impacted results.
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 streamlining operations and optimizing its dealership footprint through divestitures and operational performance improvements.
Positive Outlook
- Signed letter of intent to divest three underperforming locations
- Expected cash inflow and debt reduction from asset sales
- Enhanced operational focus on core dealership footprint
- Improved liquidity from recent transactions
- Progress in balance sheet restructuring
Challenges Ahead
- Significant net losses and continued negative Adjusted EBITDA
- Impairment charges impacting bottom line
- Non-cash losses from warrant liability changes
- Decline in pre-owned vehicle retail revenue
- Gross profit margins deteriorated across most segments
Revenue & Expenses
Visualization of income flow from segment revenue to net income