Traeger(US:COOK)2025-11-05 21:30Financial Performance - Revenue for Q3 2025 reached $125 million, a 2.7% increase compared to $122 million in Q3 2024[9, 22] - Gross margin was 38.7% in Q3 2025, compared to 42.3% in Q3 2024[9, 24] - Adjusted EBITDA was $13.8 million, representing an 11.0% margin, compared to $12 million and 10.1% margin in Q3 2024[9, 24] - Adjusted net loss was $7 million in Q3 2025, compared to $4 million in Q3 2024[24] Revenue Mix & Growth Pillars - Grills accounted for 61% of revenue, consumables 19%, and accessories 20%[10, 11] - Consumables revenue increased by approximately 12% in Q3 2025[13] - Accessories line realized double-digit growth[13] Project Gravity - Project Gravity aims for $50 million in annualized run-rate savings once fully implemented by the end of 2026[6, 15, 16] - Phase 1 includes a reduction in force and MEATER centralization, yielding approximately $30 million in savings[16] - Phase 2 includes channel optimization and other productivity measures, yielding approximately $20 million in savings[6, 16] Tariff Mitigation & Balance Sheet - The company is diversifying production outside of China to mitigate tariff risks, expecting a meaningful production shift by the end of 2026[14] - Liquidity at the end of Q3 2025 was $167 million, compared to $177 million in Q3 2024[18] - Net debt was $398 million, compared to $399 million in Q3 2024[18] Fiscal Year 2025 Guidance - Total revenue is projected to be between $540 million and $555 million[26] - Gross margin is expected to be between 40.5% and 41.5%[26] - Adjusted EBITDA is guided to be between $66 million and $73 million[26]