Core Insights - The Tile Shop is expanding its exclusive Jeffrey Alan Marks Collection with two new tile designs: Natural Zen Birchwood and Sand Dollar [1][6] - The new designs embody a California-casual aesthetic, featuring soft blue, sand, and white tones that evoke a coastal-inspired ambiance [3][4] Product Details - **Natural Zen Birchwood**: A 4" x 16" ceramic tile available in White, Sea Blue, and Ash, inspired by Japanese spa design, ideal for serene spaces [5] - **Sand Dollar**: A 6" x 6" matte porcelain tile available in Ocean and Ash, featuring intricate motifs that reflect coastal living [6] Designer Collaboration - The expanded collection is part of The Tile Shop's strategy to enhance its exclusive designer collaborations, which include partnerships with other notable designers and brands [7] Company Overview - Tile Shop Holdings, Inc. operates 141 stores across 31 states and the District of Columbia, specializing in natural stone, man-made, and luxury vinyl tiles [9]

Tile Shop (TTSH) FY 2025 Annual General Meeting June 03, 2025 11:00 AM ET Speaker0 Thank you for standing by, and welcome to the Tile Shop Holdings, Inc. Annual meeting. I will now turn the meeting over to Peter Kamen. Please go ahead. Speaker1 Good morning, ladies and gentlemen. The twenty twenty five Annual Meeting of the Stockholders of Tile Shop Holdings is now called to order. I would like to extend a welcome to any stockholders attending this virtual annual meeting. Stockholders may submit questions a ...

Core Insights - The Tile Shop is launching a new collaboration with designer Nate Berkus, set to debut in fall 2026, featuring a collection of floor and wall tiles in various materials and classic colors [1][2][3] Company Overview - Tile Shop Holdings, Inc. is a leading specialty retailer in the U.S. for natural stone, man-made, and luxury vinyl tiles, along with related accessories, operating 142 stores across 31 states and the District of Columbia [4] Collaboration Details - The Tile Shop x Nate Berkus collection aims to provide a blend of contemporary and classic styling, allowing customers to mix and match tiles for a modern, classic, and refined look at an accessible price point [2][3] - The collection is designed to be timeless and thoughtful, featuring colorways and patterns that are intended to be anti-trend [3] Designer Background - Nate Berkus is recognized as one of the world's most influential interior designers, with a career spanning over thirty years, including numerous television shows and award-winning interior designs [6]

Core Viewpoint - Tile Shop Holdings, Inc. (TTSH) has experienced a significant stock price increase of 14.8% following its Q1 2025 earnings report, outperforming the S&P 500 Index's 0.5% rise during the same period [1] Q1 Performance Snapshot - For Q1 2025, Tile Shop reported net sales of $88 million, a decline of 4.1% year over year from $91.7 million [2] - Comparable store sales dropped 4% year over year, attributed to decreased store traffic [2] - Net income fell sharply to $172,000 from $1.7 million in the prior-year period, resulting in diluted earnings per share of $0.00 compared to $0.04 in the prior year [2] Adjusted EBITDA and Margins - Adjusted EBITDA declined 38.4% to $4.6 million, or 5.2% of net sales, down from $7.4 million, or 8.1% of net sales, a year ago [3] - Gross margin improved by 20 basis points to 66% from 65.8%, driven by lower inventory write-offs, partially offset by higher delivery costs [3] Other Key Business Metrics - Total operating income decreased to $183,000 from $2.3 million, compressing the operating margin to 0.2% from 2.5% [4] - Selling, general, and administrative (SG&A) expenses declined 0.3% year over year to $57.9 million from $58 million, primarily due to a decrease in depreciation and costs associated with the closure of a distribution center [4] Cash Position and Capital Employed - Tile Shop ended the quarter with $27.1 million in cash, up from $20.9 million at the end of 2024, with no outstanding debt [5] - Operating cash flow totaled $9.9 million in the quarter compared to $18.6 million in the year-ago period [5] - Pretax Return on Capital Employed fell to 1.2% on a trailing 12-month basis, down from 11.3% a year earlier [5] Management Commentary - CEO Cabell Lolmaugh noted the impact of low housing turnover and macroeconomic headwinds but emphasized a focus on improving customer experience and managing costs [6] - The increase in tile volume sold was attributed to an expanded product assortment, particularly entry-level options and luxury vinyl tile [6] Supplier Diversification Strategy - The company sources from over 25 countries, which is expected to help navigate increased tariffs on certain imported goods [7] - Partnerships with domestic manufacturers are being developed to offset some international sourcing risks [7] Product Mix and Average Ticket Values - Despite a shift in product mix, the company maintained average ticket values due to stronger volumes [8] - New engineered hardwood and laminate products, along with large-format tiles, contributed positively [8] Factors Influencing Financial Performance - The decline in net sales and earnings was primarily driven by lower store traffic and the absence of an extra sales day that benefited the prior-year quarter [9] - The company maintained average ticket size by offsetting lower average selling prices with increased tile volumes [9] Guidance - Tile Shop did not provide formal financial guidance but expressed confidence in the spring selling season and the effectiveness of its inventory strategy and global supplier diversification [11] Other Developments - The company subleased its New Jersey distribution center, expected to yield $2 million in income, with half benefiting SG&A expenses in 2025 [12] - Tile Shop expanded its design collaboration with Alison Victoria to differentiate its product portfolio [13]

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Tile Shop Holdings, Inc. reported decreased Q1 2025 profitability with net sales down 4.1% and net income sharply reduced [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to $324.8 million by March 31, 2025, driven by higher cash and inventories, while liabilities also rose Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $27,059 | $20,957 | | Inventories | $88,145 | $86,267 | | Total Current Assets | $127,699 | $119,822 | | Total Assets | $324,792 | $319,603 | | **Liabilities & Equity** | | | | Total Current Liabilities | $86,483 | $78,394 | | Total Liabilities | $201,597 | $196,691 | | Total Stockholders' Equity | $123,195 | $122,912 | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Net sales decreased 4.1% to $88.0 million in Q1 2025, leading to a sharp decline in net income and diluted EPS Q1 2025 vs Q1 2024 Income Statement (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net sales | $88,009 | $91,728 | -4.1% | | Gross profit | $58,070 | $60,319 | -3.7% | | Income from operations | $183 | $2,283 | -92.0% | | Net income | $172 | $1,689 | -89.8% | | Diluted EPS | $0.00 | $0.04 | -100% | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow significantly decreased to $10.0 million in Q1 2025, while cash and cash equivalents increased to $27.1 million Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $9,994 | $18,589 | | Net cash used in investing activities | $(3,625) | $(2,719) | | Net cash used in financing activities | $(267) | $(455) | | **Net change in cash** | **$6,102** | **$15,407** | | **Cash at end of period** | **$27,059** | **$24,027** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail the company's specialty tile retail business, revenue sources, liquidity, and post-quarter sublease agreements - The company operates 142 stores in 31 states and is a specialty retailer of man-made and natural stone tiles, luxury vinyl tiles, and related materials[24](index=24&type=chunk) Revenue Disaggregation by Product Category | Product Category | Q1 2025 % of Revenue | Q1 2024 % of Revenue | | :--- | :--- | :--- | | Man-made tiles | 55% | 53% | | Natural stone tiles | 20% | 22% | | Setting and maintenance materials | 15% | 15% | | Accessories | 8% | 8% | | Delivery service | 2% | 2% | - As of March 31, 2025, the company had no borrowings outstanding on its $75.0 million revolving line of credit, with **$73.8 million available**[44](index=44&type=chunk)[94](index=94&type=chunk) - Subsequent to Q1 2025, the company entered into two sublease agreements for its closed New Jersey distribution center, which are expected to generate approximately **$1.0 million in sublease income in 2025** and another **$1.0 million in 2026**[49](index=49&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes decreased net sales to lower store traffic, while gross margin improved slightly and liquidity remains strong despite lower Adjusted EBITDA [Overview and Recent Trends](index=15&type=section&id=Overview%20and%20Recent%20Trends) Comparable store sales declined 4.0% in Q1 2025 due to moderated home sales, while gross margin rate improved to 66.0% - Comparable store sales decreased by **4.0% in Q1 2025** and **10.2% in Q1 2024**, attributed to lower store traffic resulting from moderated existing home sales trends[74](index=74&type=chunk) - Gross margin rate improved to **66.0% in Q1 2025** from **65.8% in Q1 2024**, mainly due to lower levels of inventory write-offs[75](index=75&type=chunk) [Results of Operations](index=17&type=section&id=Results%20of%20Operations) Net sales declined 4.1% in Q1 2025, leading to a 92.0% drop in income from operations despite a slight decrease in SG&A expenses Q1 2025 vs Q1 2024 Operations Summary (in thousands) | Metric | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Net sales | $88,009 | $91,728 | -4.1% | | Gross profit | $58,070 | $60,319 | -3.7% | | SG&A expenses | $57,887 | $58,036 | -0.3% | | Income from operations | $183 | $2,283 | -92.0% | - The decrease in SG&A was primarily due to a **$0.7 million decrease in depreciation** and a **$0.4 million decrease from a DC closure**, partially offset by a **$0.7 million increase in advertising costs**[85](index=85&type=chunk) [Non-GAAP Measures](index=17&type=section&id=Non-GAAP%20Measures) Adjusted EBITDA significantly decreased to $4.6 million in Q1 2025, and trailing twelve months pretax return on capital employed also declined sharply Adjusted EBITDA Reconciliation (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income | $172 | $1,689 | | Interest income/(expense), net | $(18) | $166 | | Provision for income taxes | $29 | $428 | | Depreciation and amortization | $4,005 | $4,742 | | Stock based compensation | $378 | $392 | | **Adjusted EBITDA** | **$4,566** | **$7,417** | - Pretax Return on Capital Employed (trailing twelve months) decreased to **1.2% at March 31, 2025**, compared to **11.3% at March 31, 2024**[90](index=90&type=chunk) [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with $27.1 million cash and $73.8 million available credit, sufficient for future operations and capital expenditures - Principal sources of liquidity are **$27.1 million of cash and cash equivalents** and **$73.8 million available for borrowing** on the revolving line of credit as of March 31, 2025[91](index=91&type=chunk)[94](index=94&type=chunk) - The company was in compliance with all financial covenants of its Credit Agreement as of March 31, 2025[93](index=93&type=chunk) - Capital expenditures were **$3.6 million in Q1 2025**, compared to **$2.7 million in Q1 2024**, primarily for investments in store remodels, merchandising, and IT[96](index=96&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=19&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk exposures or their management have occurred since the 2024 Annual Report on Form 10-K - There have been no material changes in the company's primary risk exposures or management of market risks from those disclosed in the 2024 Form 10-K[103](index=103&type=chunk) [Controls and Procedures](index=19&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during Q1 - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[105](index=105&type=chunk) - No changes in internal control over financial reporting occurred during Q1 2025 that materially affected or are likely to materially affect the controls[106](index=106&type=chunk) [PART II. OTHER INFORMATION](index=20&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=20&type=section&id=Item%201.%20Legal%20Proceedings) Management anticipates no material adverse effect on financial results from ongoing legal proceedings arising in the normal course of business - In management's opinion, the outcome of pending legal claims and disputes is not expected to have a material adverse effect on the company's financial results or position[107](index=107&type=chunk) [Risk Factors](index=20&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred in the company's risk factors since the 2024 Annual Report on Form 10-K - No material changes have been made to the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024[108](index=108&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=20&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase shares, but 227,975 shares were forfeited and 38,534 withheld for tax obligations on vested awards - In Q1 2025, **227,975 shares were forfeited** as vesting conditions were not met, and **38,534 shares were withheld** to satisfy tax obligations on vested awards. These were not part of a public repurchase program[109](index=109&type=chunk)[110](index=110&type=chunk) [Other Information](index=21&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted, modified, or terminated any Rule 10b5-1 trading plans during Q1 2025 - No directors or executive officers adopted, modified, or terminated any Rule 10b5-1 trading plans during the quarter ended March 31, 2025[113](index=113&type=chunk)

Tile Shop (TTSH) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants Ken Cooper - Investor RelationsCabby Lolmaugh - CEO & PresidentMark Davis - SVP & CFO Operator Good morning, and welcome to the Quarter One twenty twenty five Tile Shop Holdings Incorporated Earnings Conference Call. This is Franz, and I'll be the operator assisting you today. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you ...

Tile Shop (TTSH) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Speaker0 Good morning, and welcome to the Quarter One twenty twenty five Tile Shop Holdings Incorporated Earnings Conference Call. This is Franz, and I'll be the operator assisting you today. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star then followed by the number one on your te ...

Exhibit 99.1 THE TILE SHOP REPORTS FIRST QUARTER 2025 RESULTS MINNEAPOLIS – May 8, 2025 – Tile Shop Holdings, Inc. (Nasdaq: TTSH) (the "Company"), a specialty retailer of natural stone, man-made and luxury vinyl tiles today announced results for its first quarter ended March 31, 2025. First Quarter 2025 Summary Net Sales Decreased 4.1% Comparable Store Sales Decreased 4.0% Gross Margin of 66.0% Net Income of $0.2 Million and Adjusted EBITDA of $4.6 Million No Debt Outstanding and $27.1 million of Cash at Qu ...

Financial Performance - Net sales for the first quarter of 2025 decreased by $3.7 million, or 4.1%, compared to the first quarter of 2024, with comparable store sales also declining by 4.0% due to decreased traffic [2][5] - Gross profit decreased by $2.2 million, or 3.7%, but the gross margin rate improved by 20 basis points to 66.0% compared to 65.8% in the prior year, attributed to lower inventory write-offs [6] - Net income for the first quarter of 2025 was $0.2 million, a significant decrease from $1.7 million in the same period of 2024, with adjusted EBITDA falling to $4.6 million from $7.4 million [2][10][27] Operational Insights - The company maintained a gross margin of 66.0% and reported income from operations as a percentage of net sales at 0.2%, down from 2.5% in the previous year [2][28] - Selling, general, and administrative expenses slightly decreased by $0.1 million, primarily due to reductions in depreciation and costs associated with the closure of a distribution center [7] - The company had no debt outstanding and reported cash and cash equivalents of $27.1 million at the end of the quarter, an increase from $21.0 million at the end of 2024 [9][25] Management Strategy - The CEO emphasized the focus on innovation and customer experience, particularly for professional customers, while also addressing cost pressures from recent U.S. trade policy changes, including increased tariffs [3] - The company is evaluating multiple options to manage anticipated cost pressures, including sourcing adjustments and pricing strategies, leveraging a diversified supplier base [3] Market Position - As of March 31, 2025, the company operated 142 stores across 31 states and the District of Columbia, maintaining the same number of stores as the previous year [22] - The company continues to be a specialty retailer of natural stone, man-made, and luxury vinyl tiles, with a commitment to high-quality products and exceptional customer service [22]

Core Viewpoint - Tile Shop Holdings, Inc. is set to release its financial results for the first quarter ended March 31, 2025, on May 8, 2025, at 7:00 a.m. Eastern Time [1] Group 1: Financial Results Announcement - The Company will host a conference call via webcast for investors on May 8, 2025, at 9:00 a.m. Eastern Time [2] - The call will be led by the CEO, CFO, and Investor Relations [2] - A webcast replay will be available on the Company's Investor Relations page [3] Group 2: Disclosure Practices - The Company plans to use its website for disclosing material non-public information in compliance with Regulation FD [4] - Investors are encouraged to monitor the Company's website for updates, press releases, and SEC filings [4] Group 3: Company Overview - Tile Shop is a specialty retailer of natural stone tiles, man-made and luxury vinyl tiles, and related accessories in the U.S. [5] - The Company operates 142 stores across 31 states and the District of Columbia [5] - Tile Shop is affiliated with several industry organizations, including ASID, NAHB, NKBA, and NTCA [6]