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Sep 30, 2023
Traeger Q3 2023 Earnings Report
Traeger's financial results for Q3 2023 were announced, showing revenue increase and improved profitability.
Key Takeaways
Traeger reported a 25.5% increase in total revenues to $117.7 million for the third quarter of 2023. The company's gross profit margin improved to 37.9%, and it achieved an adjusted EBITDA of $4.7 million, a significant improvement from the previous year's loss. Due to better-than-expected results, Traeger is increasing the midpoint of its revenue, gross margin, and Adjusted EBITDA outlook for the full year.
Total revenues increased by 25.5% to $117.7 million.
Gross profit margin rose to 37.9%, up 1,120 basis points year-over-year.
Net loss decreased to $19.3 million compared to a net loss of $211.1 million in the prior year.
Adjusted EBITDA improved to $4.7 million from a $13.0 million loss in the prior year.
Traeger
Traeger
Traeger Revenue by Segment
Revenue by Segment
Grills Revenue
CapyFin.comConsumables Revenue
CapyFin.comAccessories Revenue
CapyFin.com Forward Guidance
The Company is updating its guidance for Fiscal 2023. The Company's updated outlook reflects better than expected third quarter performance and expected growth in revenue and Adjusted EBITDA in the fourth quarter.
Positive Outlook
- Total revenue is expected to be between $590 million and $600 million
- Gross Margin is expected to be between 36.5% and 37%
- Adjusted EBITDA is expected to be between $57 million and $59 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income