Lazydays RV Interim CEO Ron Fleming said the company made meaningful progress for the first quarter ended March 31, 2025.
“Our operating results were much improved as compared to our results in the fourth quarter and first quarter of 2024, with a notable increase in gross profit and greater gross profit margins across all product lines,” offered Fleming. “Additionally, we completed the strategic divestiture of five dealership locations in the quarter, enabling us to enhance our cost structure and significantly de-lever our balance sheet by repaying approximately $145 million in debt. We are committed to continuing to execute our turnaround plan and to unlocking value for our shareholders.”
Total revenue for the first quarter of 2025 was $165.8 million, compared to $270.1 million for the Q1 period in 2024.
The loss from operations for the first quarter was $2.3 million compared to $16.6 million for the Q1 period in 2024.
The company recognized impairment charges of $2.9 million for indefinite-lived intangible assets during the first quarter of 2025.
In the first quarter of 2025, the net loss was $9.5 million, or a loss per diluted share of 9 cents per share, compared to the net loss of $22.0 million, or a net loss per diluted share of $1.67 for the 2024 Q1 period.
First quarter 2025 Adjusted EBITDA, a non-GAAP measure, was negative $4.0 million compared to Adjusted EBITDA of negative $18.2 million for the Q1 period last year.
Lazydays, founded in 1976, offers RV sales, service, and ownership experiences for RV enthusiasts and is a publicly listed company on the Nasdaq stock exchange under the GORV.
Images courtesy Lazydays
