2023 Q2 Form 10-Q Financial Statement
#000185785323000046 Filed on May 10, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $171.5M | $153.2M | $223.7M |
YoY Change | -14.36% | -31.54% | -5.04% |
Cost Of Revenue | $108.2M | $97.74M | $140.1M |
YoY Change | -14.66% | -30.26% | 3.86% |
Gross Profit | $63.33M | $55.42M | $83.57M |
YoY Change | -13.84% | -33.68% | -16.96% |
Gross Profit Margin | 36.93% | 36.19% | 37.35% |
Selling, General & Admin | $80.29M | $48.75M | $75.96M |
YoY Change | 10.44% | -35.82% | 71.06% |
% of Gross Profit | 126.77% | 87.97% | 90.9% |
Research & Development | $3.000M | $2.200M | $4.900M |
YoY Change | 66.67% | -55.1% | 145.0% |
% of Gross Profit | 4.74% | 3.97% | 5.86% |
Depreciation & Amortization | $14.64M | $3.564M | $2.481M |
YoY Change | 2.84% | 43.65% | 11.51% |
% of Gross Profit | 23.11% | 6.43% | 2.97% |
Operating Expenses | $90.94M | $58.69M | $86.55M |
YoY Change | -52.96% | -32.2% | 64.21% |
Operating Profit | -$27.61M | -$3.263M | -$2.987M |
YoY Change | -76.96% | 9.24% | -106.23% |
Interest Expense | $7.810M | $10.45M | $5.837M |
YoY Change | 10.56% | 79.1% | -25.28% |
% of Operating Profit | |||
Other Income/Expense, Net | -$2.360M | $11.45M | -$5.293M |
YoY Change | -80.99% | -316.23% | -36.0% |
Pretax Income | -$29.97M | $8.182M | -$8.280M |
YoY Change | -77.34% | -198.82% | -120.88% |
Income Tax | $198.0K | $200.0K | $200.0K |
% Of Pretax Income | 2.44% | ||
Net Earnings | -$30.17M | $8.018M | -$8.432M |
YoY Change | -77.2% | -195.09% | -121.66% |
Net Earnings / Revenue | -17.59% | 5.24% | -3.77% |
Basic Earnings Per Share | -$0.25 | $0.07 | -$0.07 |
Diluted Earnings Per Share | -$0.25 | $0.07 | -$0.07 |
COMMON SHARES | |||
Basic Shares Outstanding | 123.9M shares | 122.6M shares | 117.9M shares |
Diluted Shares Outstanding | 123.0M shares | 122.7M shares | 117.9M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $14.50M | $15.23M | $11.10M |
YoY Change | 6.52% | 37.25% | -35.1% |
Cash & Equivalents | $14.50M | $15.23M | $11.10M |
Short-Term Investments | |||
Other Short-Term Assets | $29.84M | $40.53M | $12.72M |
YoY Change | 51.52% | 218.56% | 3.69% |
Inventory | $97.80M | $132.4M | $164.1M |
Prepaid Expenses | |||
Receivables | $83.29M | $99.59M | $163.2M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $225.4M | $287.7M | $351.2M |
YoY Change | -27.01% | -18.07% | 30.53% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $52.27M | $49.78M | $64.69M |
YoY Change | -25.12% | -23.06% | 81.72% |
Goodwill | $74.73M | $74.73M | $297.0M |
YoY Change | -59.73% | -74.84% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $14.23M | $11.25M | $11.04M |
YoY Change | 19.64% | 1.89% | 545.56% |
Total Long-Term Assets | $644.2M | $650.3M | $917.4M |
YoY Change | -19.61% | -29.12% | 11.11% |
TOTAL ASSETS | |||
Total Short-Term Assets | $225.4M | $287.7M | $351.2M |
Total Long-Term Assets | $644.2M | $650.3M | $917.4M |
Total Assets | $869.6M | $938.0M | $1.269B |
YoY Change | -21.67% | -26.06% | 15.88% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $18.56M | $26.24M | $38.37M |
YoY Change | -32.83% | -31.6% | 1.68% |
Accrued Expenses | $49.09M | $56.29M | $98.97M |
YoY Change | -33.84% | -43.13% | 119.69% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $40.00M | $40.91M | $49.16M |
YoY Change | -52.27% | -16.78% | 29.37% |
Long-Term Debt Due | $250.0K | $250.0K | $414.0K |
YoY Change | -47.03% | -39.61% | -88.95% |
Total Short-Term Liabilities | $127.3M | $141.4M | $200.3M |
YoY Change | -37.07% | -29.42% | 37.82% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $396.7M | $438.9M | $418.4M |
YoY Change | 2.44% | 4.92% | -3.62% |
Other Long-Term Liabilities | $281.0K | $479.0K | $437.0K |
YoY Change | -36.57% | 9.61% | 30.45% |
Total Long-Term Liabilities | $281.0K | $479.0K | $437.0K |
YoY Change | -36.57% | 9.61% | -99.9% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $127.3M | $141.4M | $200.3M |
Total Long-Term Liabilities | $281.0K | $479.0K | $437.0K |
Total Liabilities | $542.1M | $610.6M | $645.4M |
YoY Change | -9.9% | -5.39% | 11.32% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$611.6M | -$562.5M | -$193.3M |
YoY Change | 87.87% | 191.05% | 231.32% |
Common Stock | $12.00K | $12.00K | $12.00K |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $327.5M | $327.4M | $623.2M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $869.6M | $938.0M | $1.269B |
YoY Change | -21.67% | -26.06% | 15.88% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$30.17M | $8.018M | -$8.432M |
YoY Change | -77.2% | -195.09% | -121.66% |
Depreciation, Depletion And Amortization | $14.64M | $3.564M | $2.481M |
YoY Change | 2.84% | 43.65% | 11.51% |
Cash From Operating Activities | $49.45M | -$23.59M | -$46.91M |
YoY Change | 193.15% | -49.71% | 76.73% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $6.872M | $2.082M | $4.524M |
YoY Change | -185.06% | -53.98% | -7.01% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $2.450M | |
YoY Change | |||
Cash From Investing Activities | -$6.872M | $245.0K | -$4.648M |
YoY Change | -14.94% | -105.27% | -6.57% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $51.00K | $0.00 | |
YoY Change | -100.0% | ||
Cash From Financing Activities | -55.81M | -$478.0K | $45.92M |
YoY Change | 789.12% | -101.04% | 23.89% |
NET CHANGE | |||
Cash From Operating Activities | 49.45M | -$23.59M | -$46.91M |
Cash From Investing Activities | -6.872M | $245.0K | -$4.648M |
Cash From Financing Activities | -55.81M | -$478.0K | $45.92M |
Net Change In Cash | -13.24M | -$23.82M | -$5.642M |
YoY Change | -627.12% | 322.24% | -201.75% |
FREE CASH FLOW | |||
Cash From Operating Activities | $49.45M | -$23.59M | -$46.91M |
Capital Expenditures | $6.872M | $2.082M | $4.524M |
Free Cash Flow | $42.57M | -$25.67M | -$51.44M |
YoY Change | 70.66% | -50.09% | 63.76% |
Facts In Submission
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Traeger, Inc | |
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DE | |
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1215 E Wilmington Ave | |
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Suite 200 | |
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|
8889000 | usd |
CY2023Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
1043000 | usd |
CY2022Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
1700000 | usd |
CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
58686000 | usd |
CY2022Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
86159000 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3263000 | usd |
CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3515000 | usd |
CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
10454000 | usd |
CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
5837000 | usd |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
21899000 | usd |
CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
544000 | usd |
CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
11445000 | usd |
CY2022Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5293000 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
8182000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-8808000 | usd |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
164000 | usd |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
152000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
8018000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8960000 | usd |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.07 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.07 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.08 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.08 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
122699114 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
122699114 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
122699114 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
117889233 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
117889233 | shares |
CY2023Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-32000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-3000 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
|
0 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
|
6589000 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-32000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
6586000 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
7986000 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-2374000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
334869000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
0 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
7943000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
8018000 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-32000 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Reclassification For Discontinuance Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeReclassificationForDiscontinuanceBeforeTax
|
23409000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
327389000 | usd |
CY2021Q4 | us-gaap |
Members Equity
MembersEquity
|
606022000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
15483000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8960000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-3000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
|
6589000 | usd |
CY2022Q1 | us-gaap |
Members Equity
MembersEquity
|
619131000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
8018000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8960000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
3564000 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
2481000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
10638000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
10645000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
534000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
495000 | usd |
CY2023Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-1870000 | usd |
CY2022Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-152000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
7943000 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
15483000 | usd |
CY2023Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
56000 | usd |
CY2022Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
72000 | usd |
CY2023Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
19623000 | usd |
CY2022Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-570000 | usd |
CY2023Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
1043000 | usd |
CY2022Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
1700000 | usd |
CY2023Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
16000 | usd |
CY2022Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
0 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
57145000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
70383000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-21090000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
18561000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1214000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1741000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-18000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-4000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-73000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
17638000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-293000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
12000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-23590000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-46911000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2082000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4524000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
123000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
124000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
2450000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
245000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4648000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
62200000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
46100000 | usd |
CY2023Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
62500000 | usd |
CY2022Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
78000 | usd |
CY2023Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
51000 | usd |
CY2022Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | usd |
CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
127000 | usd |
CY2022Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
105000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-478000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
45917000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-23823000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5642000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
51555000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
16740000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
27732000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
11098000 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
4718000 | usd |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
4897000 | usd |
CY2023Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
470000 | usd |
CY2022Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
654000 | usd |
CY2023Q1 | us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
72000 | usd |
CY2022Q1 | us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
56000 | usd |
CY2023Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
2568000 | usd |
CY2022Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
7226000 | usd |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
153161000 | usd |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – The preparation of these financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. </span>The most significant estimates and the assumptions made by management that present the greatest amount of estimation uncertainty include the fair value of contingent consideration obligations, customer credits and returns, obsolete inventory reserves, valuation and impairment of intangible assets including goodwill, unrealized positions on foreign currency derivatives and reserves for warranty. Actual results could differ from these estimates. | |
CY2023Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Concentrations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash in banks, trade accounts receivable, foreign currency contracts, and business activity with certain third-party contract manufacturers of our products. Credit is extended to customers based on an evaluation of the customer’s financial condition and collateral is not generally required in the Company’s sales transactions. Three customers (each large U.S. retailers) that accounted for a significant portion of net sales are as follows:</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.028%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.543%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.545%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer A</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer B</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer C</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2023, customers A, B, and C accounted for a significant portion of trade accounts receivable of 19%, 28%, and 12%, compared to 31%, 20%, and 8% as of December 31, 2022. Concentrations of credit risk exist to the extent credit terms are extended with these three large customers. A business failure on the part of any one of the three customers could result in a material amount of exposure to the Company. No other single customer accounted for greater than 10% of the Company’s net sales for the three months ended March 31, 2023 and 2022, respectively. Additionally, no other single customer accounted for greater than 10% of trade accounts receivable as of March 31, 2023 and December 31, 2022.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s sales to dealers and distributors located outside the United States are generally denominated in U.S. dollars. The Company does have sales to certain dealers located in the European Union, the United Kingdom and Canada which are denominated in Euros, British Pounds and Canadian Dollars, respectively.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company relies on a limited number of suppliers for its contract manufacturing of grills and accessories. A significant disruption in the operations of certain of these manufacturers, or in the transportation of parts and accessories would impact the production of the Company’s products for a substantial period of time, which could have a material adverse effect on the Company’s business, financial condition and results of operations.</span></div> | |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
153161000 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
223710000 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
223710000 | usd |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
153161000 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
223710000 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
114692000 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
56822000 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
860000 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
867000 | usd |
CY2023Q1 | tra |
Accounts Receivable Reserve For Returns Discounts And Allowances Current
AccountsReceivableReserveForReturnsDiscountsAndAllowancesCurrent
|
14241000 | usd |
CY2022Q4 | tra |
Accounts Receivable Reserve For Returns Discounts And Allowances Current
AccountsReceivableReserveForReturnsDiscountsAndAllowancesCurrent
|
13905000 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
99591000 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
42050000 | usd |
CY2023Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
6470000 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
7110000 | usd |
CY2023Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
13028000 | usd |
CY2022Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
12155000 | usd |
CY2023Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
112883000 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
134206000 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
132381000 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
153471000 | usd |
CY2023Q1 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
500000 | usd |
CY2022Q4 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
1300000 | usd |
CY2023Q1 | tra |
Inventories In Transit Accrual Current
InventoriesInTransitAccrualCurrent
|
7185000 | usd |
CY2022Q4 | tra |
Inventories In Transit Accrual Current
InventoriesInTransitAccrualCurrent
|
7987000 | usd |
CY2023Q1 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
8693000 | usd |
CY2022Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
7368000 | usd |
CY2023Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
5600000 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4499000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
34808000 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
32441000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
56286000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
52295000 | usd |
CY2022Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
7368000 | usd |
CY2021Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
8326000 | usd |
CY2023Q1 | tra |
Product Warranty Accrual Decrease For Payments Current
ProductWarrantyAccrualDecreaseForPaymentsCurrent
|
1472000 | usd |
CY2022Q1 | tra |
Product Warranty Accrual Decrease For Payments Current
ProductWarrantyAccrualDecreaseForPaymentsCurrent
|
1484000 | usd |
CY2023Q1 | tra |
Product Warranty Accrual Increase For Warranties Issued Current
ProductWarrantyAccrualIncreaseForWarrantiesIssuedCurrent
|
2797000 | usd |
CY2022Q1 | tra |
Product Warranty Accrual Increase For Warranties Issued Current
ProductWarrantyAccrualIncreaseForWarrantiesIssuedCurrent
|
1889000 | usd |
CY2023Q1 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
8693000 | usd |
CY2022Q1 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
8731000 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Reclassification For Discontinuance Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeReclassificationForDiscontinuanceBeforeTax
|
23400000 | usd |
CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
-867000 | usd |
CY2022Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
1165000 | usd |
CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
620000 | usd |
CY2022Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-570000 | usd |
CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-247000 | usd |
CY2022Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
595000 | usd |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
7943000 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
15483000 | usd |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
200000 | usd |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
200000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
8018000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8960000 | usd |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
122699114 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
117889233 | shares |
CY2023Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
CY2022Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
122699114 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
117889233 | shares |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.07 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.07 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.08 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.08 | |
CY2022Q3 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
|
0.14 |