Lazydays Holdings Posts Deeper Loss as Sales Fall in Third Quarter

Lazydays Holdings, Inc. reported total revenue for the 2024 third quarter was $213.5 million compared to $280.7 million for the prior-year Q3 period.

Net loss for the third quarter was $17.7 million compared to net loss of $5.6 million for the prior-year Q3 period. Adjusted net loss, a non-GAAP measure, was $16.2 million compared to an adjusted net loss of $2.9 million for the prior-year Q3 period.

Net loss per diluted share was $1.37 in Q3 compared to net loss per diluted share of 48 cents for the prior-year Q3 period. Adjusted net loss per diluted share, a non-GAAP measure, was $1.27 per share in Q3 compared to adjusted net loss per diluted share of 29 cents for the prior-year Q3 period.

Total revenue for the nine months ended September 30, 2024 was $722.7 million compared to $884.7 million for the YTD period last year.

Net loss for the nine months ended September 30, 2024 was $83.9 million compared to net loss of $2.3 million for the YTD period last year.

Adjusted net loss, a non-GAAP measure, was $62.1 million compared to adjusted net income of $2.2 million for the YTD period last year.

Net loss per diluted share was $6.24 for the YTD period compared to net loss per diluted share of 49 cents for the YTD period last year. Adjusted net loss per diluted share, a non-GAAP measure, was $4.73 for the YTD period compared to adjusted net loss per diluted share of 7 cents for the YTD period last year.

Ron Fleming, interim CEO, said, “Despite challenging financial results during the third quarter, which continued to be impacted by economic and other industry-wide demand headwinds, we are very encouraged by the completion of last week’s recapitalization transactions. These transformative transactions have fortified the company’s financial foundation and operational focus and mark a turning point for Lazydays as we position ourselves for a stronger, more agile future. With a streamlined balance sheet, enhanced liquidity, and a simplified dealership network, we are better equipped to navigate the evolving RV landscape and deliver on our commitment to industry leadership.”

For more on Lazydays’ recapitalization transactions, see SGB Media’s coverage below.

Image courtesy Lazydays Holdings, Inc.

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