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Lazydays Holdings(GORV) - 2023 Q4 - Annual Results
2024-03-08 11:30
Exhibit 99.1 Fourth quarter 2023 revenue decreased to $198.0 million from $243.5 million in the fourth quarter of 2022. As a result of the decline in the price of our common equity in the fourth quarter of 2023, we determined a triggering event had occurred relative to the carrying value of goodwill, and, as a result, we recorded a non-cash goodwill impairment charge of $118.0 million in the quarter. LAZYDAYS REPORTS FOURTH QUARTER AND FISCAL YEAR 2023 FINANCIAL RESULTS, PROVIDES UPDATE Fourth quarter 2023 ...
Lazydays Holdings(GORV) - 2023 Q3 - Quarterly Report
2023-11-03 21:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file su ...
Lazydays Holdings(GORV) - 2023 Q3 - Earnings Call Transcript
2023-11-03 16:08
Lazydays Holdings, Inc. (LAZY) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET Company Participants Kelly Porter - Chief Financial Officer John North - Chief Executive Officer Amber Dillard - Vice President of Supply Chain Conference Call Participants Daniel Moore - CJS Securities Mike Swartz - Truist Securities Operator Greetings, and welcome to the Lazydays Holdings Third Quarter 2023 Conference Call. As a reminder, this conference is being recorded. It is now my pleasure to introduce your ho ...
Lazydays Holdings(GORV) - 2023 Q2 - Quarterly Report
2023-07-28 20:52
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-38424 Lazydays Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) | ...
Lazydays Holdings(GORV) - 2023 Q2 - Earnings Call Transcript
2023-07-28 18:01
Lazydays Holdings, Inc. (LAZY) Q2 2023 Earnings Conference Call July 28, 2023 8:30 AM ET Company Participants John North - CEO Kelly Porter - CFO Conference Call Participants Ryan Sigdahl - Craig-Hallum Capital Group Daniel Moore - CJS Securities Mike Swartz - Truist Securities Brandon Rollé - D.A. Davidson Operator Greetings, and welcome to the Lazydays Holdings Second Quarter 2023 Conference Call. As a reminder, this conference is being recorded. It's now my pleasure to introduce your host, Kelly Porter, ...
Lazydays Holdings(GORV) - 2023 Q1 - Quarterly Report
2023-04-28 21:13
or Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 For the transition period from ___________ to ___________ FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 (Exact Name of Registrant as Specified in its Charter) Indicate by check mark whether the registrant has submitte ...
Lazydays Holdings(GORV) - 2023 Q1 - Earnings Call Transcript
2023-04-27 17:43
Financial Data and Key Metrics Changes - Total revenue for Q1 2023 was $295.7 million, a decrease of 21.4% compared to the same period in 2022, reflecting a continued softening of sales volumes and discounting of 2022 model year inventory [15][16] - Adjusted net income was $1.2 million for the quarter, down from $28.2 million in the previous year, resulting in zero adjusted earnings per share compared to $1.27 in 2022 [18] - Total SG&A as a percentage of gross profit was 82%, with adjusted SG&A at 79%, showing sequential improvement from Q4 2022 [17] Business Line Data and Key Metrics Changes - New unit sales declined 18.9% in the quarter, with gross profit per unit (excluding LIFO) declining 38.6% to $12,132 [16] - Used unit sales (excluding wholesale) declined 15.6%, with gross profit per unit down 30% to $13,359 [16] - Revenue from service, body, and parts business increased by 6.3% to $15 million [16] Market Data and Key Metrics Changes - The company ended the quarter with a 207-day supply of new vehicle inventory, a decrease of 43 days from year-end, and a 77-day supply on used inventory, a decrease of one day [15] - The company noted that credit remains available for customers despite higher interest rates impacting some customers' willingness to take out loans [7][20] Company Strategy and Development Direction - The company is focused on expanding its footprint by opening new locations, with a new store in Council Bluffs, Iowa, and three more locations under construction to be completed in Q3 2023 [11] - There is a strong emphasis on enhancing digital capabilities to improve customer experience and promote growth, with a new VP of Marketing joining the team [12] - The company is committed to capital deployment, prioritizing internal investments and real estate ownership, followed by acquisitions [23] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about future performance despite macroeconomic headwinds, noting that the worst is behind them in terms of inventory management and sales velocity [9][11] - The company is experiencing improved month-on-month operations from January through April, with expectations for seasonal growth as weather improves [10][27] Other Important Information - The company has cash and cash equivalents of $41 million as of March 31, with additional liquidity from un-financed real estate estimated at $51.6 million [19][20] - The company is comfortably in compliance with debt covenants, with a covenant leverage ratio of 0.63 at the end of the quarter [22] Q&A Session Summary Question: Monthly trends in the quarter and seasonality - Management noted that Q1 showed sequential improvement, with March significantly better than January and February, and April pacing ahead of March [25][26] Question: Inventory mix and costs - Management indicated healthy demand for used units, with a focus on retailing more and being cautious with reconditioning to avoid pricing issues [28][29] Question: Consumer demand for 2023 models - Management stated that 2022 models require significant discounting, while 2023 models are still bringing good margins, with careful management of inventory arrivals [37][40] Question: Changes in OEM pricing strategy - Management reported no material changes in OEM pricing strategies regarding rebates and discounting for 2023 models [46]
Lazydays Holdings(GORV) - 2022 Q4 - Annual Report
2023-02-28 23:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 For the transition period from _________ to ________ Form 10-K Commission file number: 001-38424 (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or Lazydays Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | | 82-4183498 | ...
Lazydays Holdings(GORV) - 2022 Q4 - Earnings Call Transcript
2023-02-23 19:20
Lazydays Holdings, Inc. (LAZY) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET Company Participants Debbie Harrell - Corporate Controller John North - Chief Executive Officer Kelly Porter - Chief Financial Officer Conference Call Participants Mike Swartz - Truist Securities Steve Dyer - Craig-Hallum Fred Wightman - Wolfe Research Operator Greetings, and welcome to the Lazydays Holdings, Incorporated Fourth Quarter 2022 Financial Results Conference Call. At this time, all participants are in a ...
Lazydays Holdings(GORV) - 2022 Q3 - Quarterly Report
2022-11-04 19:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-38424 Lazydays Holdings, Inc. Indicate by check mark whether the registrant has submitted electroni ...