Financial Performance - Total revenue for Q4 2024 was $159.9 million, a decrease of 19.1% from $198.0 million in Q4 2023[2] - Total revenue for the fiscal year 2024 was $871.6 million, down 19.5% from $1,082.7 million in 2023[2] - Q4 2024 net loss was $96.1 million, an improvement from a net loss of $108.0 million in Q4 2023[3] - Net loss for the fiscal year 2024 was $180.0 million, compared to a net loss of $110.3 million in 2023[4] - Net loss per diluted share for the fiscal year 2024 was $8.90, compared to $8.45 in 2023[4] - The Company reported a net loss of $96,097,000 for the three months ended December 31, 2024, compared to a net loss of $107,965,000 for the same period in 2023[24] - The Company’s EBITDA for the three months ended December 31, 2024, was $(79,802,000), an improvement from $(121,963,000) in the same period of 2023[24] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $(24.3) million, compared to $(10.7) million in Q4 2023[3] - Adjusted EBITDA for the fiscal year 2024 was $(58.7) million, down from $11.6 million in 2023[4] - Adjusted EBITDA for the three months ended December 31, 2024, was $(24,287,000), a decline from $(10,664,000) in the same period of 2023[24] Revenue and Sales Metrics - Gross profit margin for new vehicle retail decreased to 11.2% in Q4 2024 from 12.8% in Q4 2023[18] - Total retail units sold decreased to 2,068 in Q4 2024 from 2,428 in Q4 2023, representing a decline of 14.8%[18] - Average selling price for new vehicle retail increased to $80,801 in Q4 2024 from $78,600 in Q4 2023[18] - Average gross profit per retail unit for new vehicle retail decreased to $9,052 in Q4 2024 from $10,044 in Q4 2023[18] Assets and Liabilities - Total current assets decreased to $353,774,000 as of December 31, 2024, from $546,896,000 in 2023[19] - Total liabilities decreased to $602,481,000 as of December 31, 2024, from $724,549,000 in 2023[19] - Cash at the end of the period decreased to $24,702,000 in 2024 from $58,085,000 in 2023[20] - The company reported a significant increase in inventories, with a net value of $211,946,000 in 2024 compared to $456,087,000 in 2023[19] Impairment and Charges - The company recognized impairment charges of $39.1 million related to assets held for sale in Q4 2024[3] - The Company incurred impairment charges of $39,093,000 for both the three months and year ended December 31, 2024, consistent with the previous year[24] Other Financial Metrics - Interest expense, net, increased to $11,245,000 for the three months ended December 31, 2024, from $10,774,000 in 2023[24] - Depreciation and amortization expenses remained stable at approximately $5,038,000 for the three months ended December 31, 2024, compared to $5,048,000 in 2023[24] - The Company experienced a significant change in income tax expense, reporting $12,000 for the three months ended December 31, 2024, compared to a benefit of $(29,820,000) in 2023[24] - The loss on the sale of property and equipment was $1,438,000 for the three months ended December 31, 2024, compared to $10,000 in 2023[24] - The Company reported a LIFO adjustment of $3,765,000 for the three months ended December 31, 2024, compared to a negative adjustment of $(297,000) in 2023[24] - Stock-based compensation expense was $256,000 for the three months ended December 31, 2024, up from $183,000 in 2023[24] Strategic Actions - The company plans to divest three store locations to strengthen its balance sheet and reduce indebtedness[6] - Recent sales of facilities to Camping World included locations in Elkhart, Indiana, and Surprise, Arizona, among others[7]

Core Viewpoint - Lazydays Holdings, Inc. has appointed Jeff Needles as the new Chief Financial Officer, effective January 6, 2025, succeeding Interim CFO Jeff Huddleston [1][2] Group 1: Leadership Changes - Jeff Needles brings over 20 years of financial management experience, having previously served as CFO at Warbird Marine Holdings and held positions at United Enertech Holdings, Schnellecke Logistics USA, Mastercraft Boat Company, and Harley Davidson Motor Company [4] - The transition comes at a crucial time for Lazydays, which has recently completed a series of financing transactions and is pursuing further transformational actions [3][4] Group 2: Company Background - Lazydays RV has been a significant player in the RV industry since 1976, known for exceptional RV sales, service, and ownership experiences [6] - The company offers a wide selection of RV brands, state-of-the-art service facilities, and a comprehensive range of accessories and parts, positioning itself as a go-to destination for RV enthusiasts [7]

Core Viewpoint - Lazydays Holdings, Inc. reported disappointing third-quarter 2024 results, with both earnings and revenues missing expectations, leading to a 5.3% decline in share price during after-hours trading [1]. Financial Performance - The company reported an adjusted loss per share of $1.27, which was wider than the Zacks Consensus Estimate of a loss of 89 cents, compared to a loss of 29 cents per share in the same quarter last year [3]. - Total revenues for the quarter were $213.5 million, falling short of the Zacks Consensus Estimate of $228 million, and representing a year-over-year decline of 23.9% [4]. - New vehicle retail sales decreased by 29.3% year over year to $122.3 million, driven by a 13.1% drop in average selling price per retail unit and an 18.6% decrease in units sold [5]. - Pre-owned vehicle retail revenues declined by 19.8% to $60.2 million, while service, body, and parts revenues fell by 9.5% to $12.9 million [5]. Gross Margin and Balance Sheet - The company's gross margin improved by 180 basis points year over year to 21.2%, although gross margins for new and pre-owned vehicle retail decreased by 160 and 230 basis points to 9.2% and 18.2%, respectively [6]. - As of September 30, 2024, cash reserves were $13.5 million, down from $58.1 million at the end of fiscal 2023, while long-term debt slightly decreased to $27.6 million from $28.1 million [7]. Market Position - Lazydays Holdings, Inc. currently holds a Zacks Rank of 2 (Buy) [8].

Core Viewpoint - Camping World Holdings, Inc. is acquiring seven dealerships from Lazydays Holdings, Inc., enhancing its market presence and product offerings in the RV sector [1][2]. Acquisition Details - The acquisition includes locations in Surprise, AZ, Murfreesboro, TN, Sturtevant, WI, Council Bluffs, IA, Elkhart, IN, Portland, OR, and Woodland, WA [1]. - The transaction is valued at approximately book value, with a net cash outlay expected to be between $10 million and $20 million after real estate financing [1]. Market Opportunity - The market within a 50-mile radius of each dealership accounts for over 65,000 new and used RV units sold annually, indicating significant growth potential for market share expansion [3]. - The acquired locations generated nearly $200 million in revenues over the trailing twelve months, showcasing their financial viability despite a challenging RV market [3]. Company Performance - Camping World shares have increased by 15.9% in the past six months, outperforming the Zacks Leisure and Recreation Services industry's growth of 11% [4]. - The company benefits from strong same-store sales and ongoing acquisitions, although it faces challenges from high costs and price fluctuations [4]. Strategic Focus - Camping World is focused on strategic investments in acquisitions to expand its footprint and maximize working capital returns [6]. - In the first nine months of 2024, the company acquired nine locations for approximately $69.4 million [6]. Future Plans - For 2025, Camping World plans to rebuild its used vehicle business and maintain its leadership in the RV market, with a Zacks Consensus Estimate indicating 7% sales growth and 357.5% EPS growth year-over-year [7].

Core Viewpoint - Lazydays Holdings, Inc. has announced a series of transformative transactions aimed at strengthening its financial foundation, reducing debt, and enhancing profitability potential [1][3]. Transaction Highlights - The company plans to sell seven dealerships and issue common stock to Camping World for a total of $65.5 million, along with an additional dealership sale for $8 million [2][4]. - A $30 million common equity PIPE was closed at $1.03 per share, resulting in the issuance of 29.1 million new shares [2][5]. - A $25 million rights offering is planned at the same price per share as the PIPE, allowing existing stockholders to participate [2][6]. - All outstanding convertible preferred stock will be exchanged for common stock at $1.03 per share, eliminating a $68 million liquidation preference and a $9 million annual dividend requirement [2][7]. - The transactions will lead to a $65 million reduction in debt and a $16 million reduction in interest and preferred dividend payments [2][8]. Financial Position Post-Transactions - Following the transactions, Lazydays is expected to have $35 million in cash, $61 million in debt (excluding floor plan financings), and 119.5 million shares of common stock outstanding [2][8]. - The company has amended its credit facility with M&T Bank, providing significant financial flexibility through the first quarter of 2026 [2][8]. Leadership Commentary - The Chairman of Lazydays expressed confidence in the company's revitalization and the support received from investors and partners [3]. - The Interim CEO highlighted the challenging economic environment faced in recent years and the positive outlook for the company's future [3]. - The Chairman and CEO of Camping World emphasized the importance of Lazydays' health to the RV industry and its partners [3].

Company Overview - Lazydays has been a significant player in the RV industry since 1976, known for exceptional RV sales, service, and ownership experiences [2] - The company has built strong relationships with RVers and their families, who depend on Lazydays for their RV needs [2] Leadership Changes - Amber Dillard has been promoted to a new and expanded role, continuing her work with OEM partners and dealership General Managers to enhance operational performance [1] - Dillard has been with Lazydays since 2011, holding various positions across the organization, including accounting, supply chain, vehicle purchasing, inventory management, and dealership operations [1] - Dillard is also a board member of the Lazydays Employee Foundation, which supports at-risk children in the communities served by the company [1] Product and Service Offerings - Lazydays offers a wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and a comprehensive range of accessories and parts [3] - The company aims to be the go-to destination for RV enthusiasts, providing outstanding support and guidance for both seasoned RVers and newcomers [3] Stock Information - Lazydays is publicly listed on the Nasdaq stock exchange under the ticker "GORV" [4]

Financial Performance - Total revenues for Q2 2024 were $238.694 million, a decrease of 22.6% compared to $308.380 million in Q2 2023[7] - New vehicle retail sales amounted to $143.333 million, down 21.6% from $182.752 million in the same quarter last year[7] - Pre-owned vehicle retail sales decreased by 32.9% to $60.908 million from $90.991 million year-over-year[7] - Gross profit for Q2 2024 was $47.404 million, a decline of 30% compared to $67.723 million in Q2 2023[7] - The company reported a net loss of $44.221 million for Q2 2024, compared to a net income of $3.560 million in Q2 2023[7] - Basic loss per share for Q2 2024 was $(3.22), compared to earnings of $0.12 per share in Q2 2023[7] - Total revenues for the six months ended June 30, 2024, were $509,280, a decrease of $94,756 or 15.7% compared to $604,036 in 2023[86] - New vehicle retail revenues decreased by $63,475 or 17.7% to $296,024 from $359,499 year-over-year[86] - Pre-owned vehicle retail revenues fell by $35,282 or 20.1% to $140,484 compared to $175,766 in the previous year[86] - Total gross profit for the six months was $85,170, down $46,444 or 35.3% from $131,614 in 2023[86] Assets and Liabilities - Total assets decreased to $772.368 million as of June 30, 2024, down from $937.739 million at the end of 2023[5] - Total liabilities were $624.162 million, a reduction from $724.549 million at the end of 2023[5] - Cash reserves decreased to $42.022 million from $58.085 million at the end of 2023[5] - The company’s retained earnings showed a significant decline, reaching $(20.048) million compared to $48.137 million at the end of 2023[5] - As of June 30, 2024, total stockholders' equity was $87,998, a decrease from $133,542 as of March 31, 2024, reflecting a net loss of $44,221 for the quarter[8] Cash Flow and Operating Activities - Net cash provided by operating activities for the six months ended June 30, 2024, was $101,315, significantly higher than $10,705 for the same period in 2023[14] - Cash paid for interest during the six months ended June 30, 2024, was $17,700, compared to $2,672 in the same period of 2023[15] - Total adjustments to reconcile net loss to net cash provided by operating activities were $167,516 for the six months ended June 30, 2024[14] - The company reported a net decrease in cash of $16,063 for the six months ended June 30, 2024, compared to a decrease of $37,514 in the same period of 2023[14] Inventory and Sales Performance - Total inventories decreased from $480.7 million as of December 31, 2023, to $314.4 million as of June 30, 2024[31] - Retail units sold for new vehicles increased by 132 units or 3.3% to 4,091, while pre-owned vehicle retail units sold decreased by 76 units or 2.8% to 2,616[86] - The average selling price for new vehicles fell by $18,417 or 20.3% to $72,389 from $90,806[86] - The company achieved a pre-owned to new ratio of 0.6:1 in the quarter ended June 30, 2024, with a strategic goal to reach a 1:1 ratio[97] Debt and Financing - As of June 30, 2024, there was $331 million outstanding on the Floor Plan Line of Credit at an interest rate of 7.9%[39] - The company entered into a Limited Waiver with lenders under the M&T Credit Agreement, temporarily waiving certain covenants[39] - Future maturities of long-term debt total $73,869 thousand, with $5,578 thousand due in the remainder of 2024[49] - The company entered into a $50 million term loan on December 29, 2023, with an interest rate of 12% per annum, secured by certain assets[45] Operational Challenges - The company experienced a decline in operating performance due to a slowdown in the recreational vehicle industry and consumer uncertainty, leading to non-compliance with certain financial covenants[22] - The company implemented cost reductions with estimated annual savings of $30 million to address recent industry challenges[23] - The company is uncertain about the timing of industry recovery and anticipates unit sales may remain below long-term averages[22] Stock and Compensation - Stock-based compensation for the six months ended June 30, 2024, was $1,104, down from $1,639 in the same period of 2023[14] - The company issued 211,926 restricted stock units with a weighted-average grant date fair value of $4.31 during the six months ended June 30, 2024[72] - The company recognized stock-based compensation related to the Employee Stock Purchase Plan (ESPP) of $112,855 for the six months ended June 30, 2024[69] Market and Future Outlook - The company anticipates that future retail demand for RVs will exceed historical pre-pandemic levels due to ongoing consumer interest in the RV lifestyle[139] - The revised forecast for 2024 RV wholesale shipments is projected to range between 329,900 to 359,100 units, with a median of 344,000 units[138]

Core Viewpoint - Lazydays Holdings, Inc. reported disappointing first-quarter 2024 results, with earnings and revenues missing estimates for the third consecutive quarter, leading to a 3.8% decline in share price after the announcement [1][2]. Earnings & Revenues - The company reported an adjusted loss per share of $1.63, significantly wider than the Zacks Consensus Estimate of a loss of $0.43, compared to break-even earnings in the same quarter last year [3]. - Total revenues were $270.6 million, falling short of the Zacks Consensus Estimate of $285 million, and representing an 8.5% year-over-year decline [3]. Results of Operations - New vehicle retail sales decreased by 13.6% year over year to $152.7 million, while pre-owned vehicle retail and service, body, and parts revenues declined by 6.1% and 11.6% year over year to $79.6 million and $13.7 million, respectively [4]. - The company's gross margin contracted by 760 basis points to 14%, with new vehicle retail and pre-owned vehicle retail gross margins declining by 950 and 850 basis points to 3.7% and 11.8%, respectively [4]. Balance Sheet - As of March 31, 2024, the company had cash totaling $39.4 million, down from $58.1 million at the end of fiscal 2023. Long-term debt was slightly reduced to $27.8 million from $28.1 million at the end of fiscal 2023 [5].

Financial Performance - Total revenues for Q1 2024 were $270.586 million, a decrease of 8.4% compared to $295.656 million in Q1 2023[13] - Net loss for Q1 2024 was $21.980 million, compared to a net loss of $276 thousand in Q1 2023[13] - Gross profit for Q1 2024 was $37.766 million, down from $63.891 million in Q1 2023, reflecting a gross margin decline[13] - The company’s basic loss per share for Q1 2024 was $(1.67), compared to $(0.12) in Q1 2023[13] - Total revenue for the three months ended March 31, 2024, was $270.586 million, a decrease of 8.5% compared to $295.656 million in the same period of 2023[91] - New vehicle retail revenue decreased by 13.6% to $152.691 million from $176.747 million year-over-year[91] - Gross profit for the three months ended March 31, 2024, was $37.766 million, down 40.9% from $63.891 million in the prior year[91] - The total gross profit margin decreased to 14.0% from 21.6% year-over-year, reflecting a decline of 760 basis points[91] - New vehicle gross profit decreased by $17.8 million, or 75.9%, with gross margin dropping by 950 basis points to 3.7%[99] - Pre-owned vehicle retail revenue decreased by $5.2 million, or 6.1%, due to a 12.4% decrease in retail units sold and a 16.5% decrease in average selling price per retail unit[103] Cash Flow and Liquidity - Cash and cash equivalents decreased to $39.350 million as of March 31, 2024, from $58.085 million at the end of 2023[12] - Operating cash flows for Q1 2024 provided $80.240 million, a substantial improvement compared to a cash outflow of $28.832 million in Q1 2023[16] - The net cash provided by operating activities was $80,240 thousand for the three months ended March 31, 2024, a variance of $109,072 thousand compared to a net cash used of $28,832 thousand in 2023[124] - As of March 31, 2024, the company had cash of $39.4 million and a fully drawn revolver, with an estimated additional liquidity of approximately $45 million from refinancing real estate valued at $126.5 million[123] Assets and Liabilities - Total assets decreased to $821.747 million as of March 31, 2024, from $937.739 million at the end of 2023[12] - Total liabilities decreased to $630.028 million as of March 31, 2024, from $724.549 million at the end of 2023[12] - Long-term debt as of March 31, 2024, totaled $64.273 million, with a net amount of $61.978 million after debt discount[49] - Future maturities of long-term debt include $35.826 million due in 2026, with total long-term debt scheduled to be $64.273 million[55] Inventory and Sales - The company reported a significant increase in inventories, which rose to $346.645 million from $456.087 million[12] - The total inventory value as of March 31, 2024, was $346.645 million, down from $456.087 million as of December 31, 2023, representing a decrease of approximately 24%[31] - Approximately 79% of the inventory as of March 31, 2024, consisted of 2024 model year units, with efforts to discount older inventory for the summer selling season[101] - Retail units sold increased by 7.2% to 3,521 units, compared to 3,284 units in the same period last year[91] Financing and Debt - The Senior Secured Credit Facility with M&T Bank includes a $525 million Floor Plan Line of Credit and a $50 million Revolving Credit Facility, both expiring on February 21, 2027[40] - As of March 31, 2024, there was $357.8 million outstanding on the Floor Plan Line of Credit at an interest rate of 7.9%[44] - The company entered into a $35 million term loan with Coliseum Holdings I, LLC, bearing interest at 12% per annum, with a maturity date of December 29, 2026[147] - The company entered into two mortgages in July 2023 for total proceeds of $29.3 million, with interest rates between 6.85% and 7.10% per annum, maturing in July 2033[50] Operational Highlights - As of March 31, 2024, Lazydays Holdings, Inc. operated 25 dealerships across various states, including 4 in Arizona and 3 each in Florida and Tennessee[20] - The company operates 25 dealerships across 15 states, with a strategic focus on expansion through acquisitions and new store openings[86] - A complete rebranding effort was launched in January 2024, including new websites and a new stock symbol ("GORV") to enhance the digital retail experience[89] Market and Economic Conditions - Inflation has impacted operations, particularly with increased costs of new vehicles due to high demand and supply chain disruptions[157] - The Company anticipates that future retail demand will exceed pre-pandemic levels as consumers value the RV lifestyle[156] - RVIA projects total wholesale unit shipments for 2024 to be approximately 350,100 units, up 11.8% from 2023[154] Compliance and Governance - The company was not in compliance with all covenants of the M&T Bank financing agreement as of March 31, 2024, specifically failing to meet the minimum trailing twelve-month EBITDA requirement[42] - Management identified material weaknesses in internal controls over financial reporting, which are being remediated[168] - The Company believes its financial statements fairly present its financial position in conformity with U.S. GAAP despite identified weaknesses[169]

Adjusted results for the first quarter of 2024 exclude a net non-core charge of $0.04 per diluted share related to our LIFO adjustment, transaction costs, and severance and transition costs. Adjusted results for the first quarter of 2023 exclude a net non-core charge of $0.17 per diluted share related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment, an impairment charge, acquisition expenses and severance and transition costs. Exhibit 99.1 LAZYDAYS REPORTS FIRST QUARTER 2 ...