Wed, Apr 30, 8:27 PM (15 days ago)
### Summary of Lazydays Holdings, Inc. (Ticker: GORV) **Financial Performance:** - **Revenue:** $871.6 million for the year ended December 31, 2024, down 19.5% from $1.08 billion in 2023. - **Net Income:** A net loss of $163.7 million in 2024, compared to a net loss of $110.3 million in 2023. - **Operating Expenses:** Selling, general, and administrative expenses were $200.1 million in 2024, up 0.9% from $198.3 million in 2023. - **Earnings per Share (EPS):** Basic and diluted loss per share was $8.12 in 2024, compared to $8.41 in 2023. **Strategic Overview:** - **Business Model:** Operates recreational vehicle (RV) dealerships and offers a comprehensive portfolio of products and services for RV owners and outdoor enthusiasts. - **Market Position:** Operates the world's largest RV dealership, measured in terms of on-site inventory, located in Tampa, Florida. - **Growth Strategies:** Focuses on increasing pre-owned vehicle sales, expanding consignment programs, and enhancing digital retail experiences. **Future Outlook:** - **Market Trends:** Anticipates near-term demand influenced by consumer confidence, interest rates, and discretionary spending, with long-term demand expected to exceed historical levels. - **Inflation Impact:** Experienced increased costs due to inflation, particularly in new vehicles and overhead costs. - **Seasonality:** Higher sales volumes in the first half of the year due to consumer buying trends and hospitable climates in winter months. **Risk Factors:** - **Financial Condition:** Substantial doubt about the ability to continue as a going concern due to recurring losses and liquidity issues. - **Market Position:** Competition in the RV market and potential changes in trade policies and regulations. - **Operational Risks:** Dependence on key suppliers, weather-related disruptions, and the impact of economic downturns. **Financial Condition:** - **Liquidity:** Dependent on generating positive cash inflows from operations and securing outside capital. - **Debt Obligations:** Significant debt obligations, including mortgages, term loans, and revolving credit facilities. - **Credit Facilities:** Limited access to revolving credit facilities, with reliance on floor plan financing for inventory. **Market Position Changes:** - **Sales Performance:** Decline in new and pre-owned vehicle sales due to a contracting market and discounting of inventory. - **Inventory Management:** Strategic focus on managing inventory levels and procuring additional pre-owned RV inventory. **Amendment Details:** - **Restatement:** Restatement of audited consolidated financial statements due to an error in the fair value of warrant liabilities. - **Impact:** Adjustments to financial data and corresponding revisions to the financial statements. **Note:** This summary provides a concise overview of Lazydays Holdings, Inc.'s financial performance, strategic initiatives, future outlook, risk factors, financial condition, and market position changes. For a more detailed analysis, please refer to the full financial report.