Financial Data and Key Metrics Changes - The company reported revenues exceeding $100 million for the first time in its history, setting a fourth consecutive quarterly sales record [5] - Comparable store sales increased by 10.7% in Q1 2022, primarily driven by an increase in average ticket prices due to recent pricing actions [17] - Gross margin was 65.2% during Q1 2022, with expectations of further pressure on gross margin in the near term [18] - Net income for Q1 2022 was $3.5 million, and adjusted EBITDA was $11.7 million, with an adjusted EBITDA margin of 11.4%, down 460 basis points from the previous year [24] Business Line Data and Key Metrics Changes - The professional customer channel accounted for over 60% of overall sales during the quarter, reflecting strong relationships cultivated by Pro Market Managers [8] - Online orders increased by over 30% year-over-year, although they still represent less than 5% of overall orders [11] Market Data and Key Metrics Changes - The company has seen improvements in supply chain levels, approaching pre-COVID levels, despite ongoing global supply chain disruptions [12] - Inflationary cost pressures remain a challenge, particularly in Europe, where natural gas prices have surged following geopolitical events [13] Company Strategy and Development Direction - The company is focused on enhancing in-store execution, improving digital commerce capabilities, and strengthening the professional customer channel [6][10][8] - Investments are being made in technology and inventory to navigate inflationary pressures and secure better pricing [15][46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the volatility in the current environment and expects inflationary pressures to persist [14][26] - The company remains confident in its ability to manage challenges and is optimistic about future growth opportunities [27] Other Important Information - SG&A expenses increased by $4.8 million compared to Q1 2021, primarily due to staffing and marketing investments [19] - The company is actively pulling forward inventory purchases to mitigate anticipated price increases [25] Q&A Session Summary Question: Can you break down inflationary pressures from direct costs versus transportation costs? - Management indicated that inflation is more pronounced on the product side than transportation, but quantifying the exact split is challenging due to variability across suppliers [30][32] Question: What is the expected growth for e-commerce sales? - Management expressed optimism for e-commerce growth, aiming to exceed 5% of overall sales, with the Visualizer tool available for both online and in-store use [34] Question: What percentage of sales comes from professional customers? - Professional sales exceeded 60%, up from the 50s a year ago, with continued investment in this segment [35][38] Question: How is store traffic performing? - Store traffic has been declining, but ticket sizes are increasing due to pricing and unit increases [44] Question: What are the capital allocation priorities? - The focus is on enhancing store execution, inventory management, and technology investments, with new store openings likely postponed until 2023 [46][47]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 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: 001-35629 TILE SHOP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 45-5538095 (State or other jur ...

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue of $90.2 million, the highest level of fourth quarter sales in its history, contributing to a full year revenue of $370.7 million, establishing a new annual sales record [5][29] - Comparable store sales increased by 10.3% during the fourth quarter and 13.8% for the year, primarily driven by an increase in the average ticket [23] - Gross margin for the fourth quarter was 66.1%, reflecting a 210 basis point sequential decline from the third quarter due to cost pressures [26][29] - Net income for the fourth quarter increased by $400,000, with diluted earnings per share at $0.04, while net income for the year more than doubled, resulting in diluted earnings per share of $0.29 [29] Business Line Data and Key Metrics Changes - The company plans to focus on improving performance within its existing 143 store footprint and will not open new stores in 2022, instead prioritizing financial improvements in underperforming stores [9][10] - The average sales per store increased from $2.3 million in 2020 to $2.6 million in 2021, indicating a positive trend in store performance [25] Market Data and Key Metrics Changes - The company has made progress in securing inventory delivery from vendors, reducing back orders to levels more in line with historical norms, with an inventory balance of $97 million at year-end [10] - Cost pressures across the supply chain have been noted, with international shipping rates still higher than historical levels, leading to necessary price increases [11][12] Company Strategy and Development Direction - The company is enhancing its IT systems to improve customer experience and operational efficiency, with a focus on retail execution, supply chain management, and team development [7][16] - The strategy includes diversifying suppliers and adjusting prices to mitigate cost pressures while expanding pro installation products and luxury vinyl tile (LVT) offerings, which may have lower gross margins but are expected to generate incremental gross profit [27][59] Management's Comments on Operating Environment and Future Outlook - Management anticipates that inflationary pressures will subside in the long term, and the actions taken will help ease current cost pressures [12] - The company remains optimistic about maintaining strong sales momentum into 2022, with improved inventory levels and reduced back orders [56] Other Important Information - The company declared a special dividend of $0.65, resulting in a cash outflow of $32.9 million during the fourth quarter [31] - Capital expenditures for 2022 are anticipated to be between $13 million and $18 million, focusing on store remodels, technology investments, and maintaining distribution centers [31] Q&A Session Summary Question: Discussion on price increases and their adequacy - Management indicated that price increases in Q4 were made in response to ongoing cost pressures, and they feel comfortable with the adjustments made [35][36] Question: Customer reception to price increases - There has been minimal pushback from customers regarding price increases, as the retail environment is experiencing similar pressures across the board [37] Question: Update on Pro business trends - The Pro business has been strong, with increased accounts driven by the Pro market manager program, reflecting robust demand in the remodeling sector [39] Question: Plans for store remodels and relocations - The company is actively remodeling stores but has no immediate plans for new store openings, focusing instead on improving existing store performance [41] Question: Details on IT initiatives - Management elaborated on the new ERP system and its potential to enhance customer and employee experiences, with a focus on automation and efficiency [45][46] Question: Clarification on asset impairment charges - Asset impairment charges are not added back into adjusted EBITDA [48] Question: CapEx guidance and allocation - CapEx is typically divided into thirds for technology, remodels, and other initiatives, with a focus on achieving a two-year payback on significant remodels [53][55] Question: Sales momentum in Q1 - Management confirmed strong sales momentum has continued into Q1, with improved inventory levels and reduced back orders [56] Question: Impact of lower margin products on traditional tile sales - Management assured that the introduction of lower margin products like LVT has not cannibalized traditional tile sales, as they cater to different customer needs [58][59] Question: Feedback on capital allocation strategy - Management appreciated the feedback regarding potential share buybacks as a means to enhance shareholder value [60][64]

Financial Data and Key Metrics Changes - The company reported record third-quarter sales of $92.2 million, marking the highest level of sales in its history for this quarter, driven by a 12.8% increase in comparable store sales [6][22] - Gross profit for the third quarter was $62.9 million, with a gross margin of 68.2%, reflecting a 30 basis point improvement year-over-year but a 90 basis point decline sequentially [24][25] - Net income increased to $2.2 million from $1.9 million in the same quarter of the previous year, while adjusted EBITDA decreased to $10.4 million from $11.1 million [29][30] Business Line Data and Key Metrics Changes - The company has seen strong demand for home improvement products, contributing to the increase in sales and average ticket size [22] - Online sales remain below 5% of total orders but are experiencing growth as the e-commerce platform evolves [10][22] Market Data and Key Metrics Changes - Customer deposits for future product deliveries remained elevated at $16.2 million, slightly down from $16.5 million in the previous quarter, indicating strong order bank maintenance [23] Company Strategy and Development Direction - The company is focusing on retail execution, enhancing the online customer experience, and managing supply chain challenges [8][9][11] - Plans for 2022 include no new store openings in the first half, with a focus on improving existing store performance and supply chain visibility [18][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing supply chain challenges and cost pressures but expressed confidence in their ability to manage these issues [14][15] - The company anticipates that sourcing challenges will persist into 2022 but remains optimistic about meeting customer needs [14][19] Other Important Information - The Board of Directors declared a special dividend of $0.65 per share, payable on December 3, reflecting the company's strong cash position [32] - The company ended the quarter with a cash balance of $44.3 million and no debt [31] Q&A Session Summary Question: Inquiry about gross margin recovery timeline - Management indicated that while they aim to return to historical gross margins above 70%, current global supply chain uncertainties make it difficult to provide a specific timeline [36][37] Question: Clarification on SG&A expenses - Management confirmed that the $700,000 asset impairment charge was not added back to adjusted EBITDA, impacting the reported numbers [38][39] Question: Discussion on special dividend versus store investment - Management explained that while they are returning capital to shareholders, they also plan to invest in store remodels and maintain cash for future growth opportunities [58][60] Question: E-commerce revenue contribution and future expectations - E-commerce currently accounts for less than 5% of total sales, but management is optimistic about its growth potential and plans to continue investing in this area [10][93] Question: Performance of luxury vinyl plank sales - Management reported positive sales results for luxury vinyl plank, indicating plans to continue monitoring and expanding this product line [100][101]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ Commission file number: 001-35629 _____________________________ TILE SHOP HOLDINGS, INC. (Exact name of registrant as specified in its charter) _____________________________ Delaware 45-5538095 (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, 2021 OR ¨ TRANSITION REPORT PU ...

1 I NV E S T O R P R E S E NTAT I O N A u g u s t 2 0 2 1 C a b e l l L o l m a u g h C E O M a r k D a v i s V P I R & C A O Forward looking statements and non-GAAP information Forw ard Looking Statements These slides and accompanying oral presentation contain "forward looking statements" w ithin the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", ...

Tile Shop Holdings, Inc. (NASDAQ:TTSH) Q2 2021 Results Conference Call August 5, 2021 9:00 AM ET Company Participants Mark Davis - VP of IR and Chief Accounting Officer Cabell Lolmaugh - President and CEO Nancy DiMattia - SVP and CFO Conference Call Participants Jeff Moore - Burr Oak Capital Jon Hollander - CAG David Kanen - Kanen Wealth Management Operator Good day, and thank you for standing by, and welcome to the Q2 2021 Tile Shop Holdings Conference Call. [Operator Instructions] Please be advised that t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 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: 001-35629 _____________________________ _____________________________ FORM 10-Q _____________________________ (Mark One) TILE SHOP HOLDINGS, INC. (Ex ...

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 March 31, 2021 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: 001-35629 _____________________________ TILE SHOP HOLDINGS, INC. (E ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to (Exact name of registrant as specified in its charter) Delaware 45-5538095 (State or other jurisdiction of incorporation or organization) (I.R.S. Employe ...