Financial Performance - Total revenue for Q4 2024 was 198.0 million in Q4 2023[2] - Net loss for Q4 2024 was 108.0 million in Q4 2023[3] - Adjusted EBITDA for Q4 2024 was (10.7) million in Q4 2023[3] - Total revenue for the fiscal year 2024 was 1,082.7 million in 2023[2] - Net loss for the fiscal year 2024 was 110.3 million in 2023[4] - Net loss per diluted share for the fiscal year 2024 was 8.45 in 2023[4] - Net loss for the year ended December 31, 2024, was (110,266) thousand in 2023[24] Operational Metrics - New vehicle retail gross profit margin decreased to 11.2% in Q4 2024 from 12.8% in Q4 2023, while pre-owned vehicle retail gross profit margin fell to 10.7% from 17.4%[18] - Total retail units sold decreased to 2,068 in Q4 2024 from 2,428 in Q4 2023, with new vehicle retail units sold at 1,172 compared to 1,264 in the prior year[18] - Average selling price per new vehicle retail increased to 78,600 in Q4 2023, while average selling price for pre-owned vehicles decreased to 62,228[18] Asset and Liability Management - Total assets decreased to 937.74 million in 2023, with current assets dropping to 546.90 million[19] - Total liabilities decreased to 724.55 million in 2023, with current liabilities dropping to 499.98 million[19] - Cash at the end of the period decreased to 58.09 million in 2023[20] Impairment and Charges - The company recognized impairment charges of 39,093 thousand, consistent with the previous year[24] Interest and Expenses - Interest expense, net, increased to 34,882 thousand in 2023[24] - Depreciation and amortization expenses rose to 18,512 thousand in 2023[24] - The company reported a significant increase in floor plan interest expense, totaling 24,820 thousand in 2023[24] - Stock-based compensation expense decreased to 2,249 thousand in 2023[24] Cash Flow and Recovery - The company experienced a net cash provided by operating activities of 36.48 million in 2023[20] Strategic Initiatives - Lazydays signed a letter of intent to divest three store locations, which is expected to strengthen the balance sheet and reduce indebtedness[6] - The company completed sales of several facilities to Camping World, although two dealership closings were not completed[7] - The company is focused on maximizing operational performance and ensuring the right dealership footprint for long-term shareholder value[2] - The company aims to use Adjusted EBITDA to monitor operating results and evaluate business performance moving forward[23]
Lazydays Holdings(GORV) - 2024 Q4 - Annual Results