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Sep 30, 2021
Traeger Q3 2021 Earnings Report
Reported third quarter fiscal 2021 results and reiterated outlook for full year 2021.
Key Takeaways
Traeger reported a revenue increase of 11.7% to $162.0 million compared to the third quarter last year. The company faced challenges with gross profit margin, which decreased to 33.5% due to increased freight rates and logistics costs. Net loss was $89.2 million, driven by equity-based compensation expense.
Total revenue increased by 11.7% to $162.0 million.
Gross profit margin was 33.5%.
Net loss was $89.2 million.
Adjusted EBITDA was $4.1 million.
Traeger
Traeger
Traeger Revenue by Segment
Revenue by Segment
Grills Revenue
CapyFin.comConsumables Revenue
CapyFin.comAccessories Revenue
CapyFin.com Forward Guidance
For the full year fiscal 2021, Traeger expects total revenue to be between $760 million and $770 million, and Adjusted EBITDA to be between $103 million and $108 million.
Positive Outlook
- Sustained consumer demand
- Investment in product innovation
- Investment in marketing
- Investment in growth infrastructure
- Investment in public company costs
Challenges Ahead
- Gross margin pressures due to global supply chain challenges
- Unable to provide reconciling information with respect to provision (benefit) for income taxes
- Unable to provide reconciling information with respect to other (income) expense
- Unable to provide reconciling information with respect to interest expense, depreciation and amortization
- Unable to provide reconciling information with respect to equity-based compensation
Revenue & Expenses
Visualization of income flow from segment revenue to net income