• Revenue Growth: 3% increase in Q4 2024, reaching $169 million.

• Grill Revenue: Increased by 30% year-over-year to $78 million in Q4 2024.

• Consumables Revenue: Grew by 25% to $31 million in Q4 2024.

• Accessories Revenue: Declined by 24% to $60 million in Q4 2024.

• Gross Margin: Improved by 410 basis points to 40.9% in Q4 2024.

• Adjusted EBITDA: Increased by 41% to $18 million in Q4 2024.

• Net Loss: $7 million in Q4 2024, compared to a net loss of $24 million in Q4 2023.

• Cash and Cash Equivalents: Ended the year with $15 million.

• Total Net Debt: Declined by $9 million to $394 million.

• Inventory: $107 million at the end of Q4 2024, up from $96 million a year ago.

• 2025 Revenue Guidance: $595 million to $615 million, ranging from down 2% to up 2% versus 2024.

• 2025 Adjusted EBITDA Guidance: $75 million to $85 million.

• Warning! GuruFocus has detected 3 Warning Signs with COOK.

Release Date: March 06, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Traeger Inc (NYSE:COOK) reported a 3% revenue growth in Q4 2024, with significant strength in the Grills business, which saw a 30% increase compared to the previous year.

• The company achieved a 410 basis point improvement in gross margin in Q4 2024, contributing to a 41% increase in adjusted EBITDA from the previous year.

• Traeger Inc (NYSE:COOK) successfully launched the Woodridge series of wood pellet grills, which features technological innovations and has received positive consumer reception.

• The company expanded its consumables distribution by partnering with Walmart, providing a new channel for consumers to purchase Traeger pellets and rubs.

• Traeger Inc (NYSE:COOK) made progress in brand awareness and market share, with initiatives like social media engagement and strategic partnerships enhancing brand visibility.

Negative Points

• The accessories business, particularly MEATER, underperformed expectations in Q4 2024, with a decline in revenue attributed to increased competition and higher advertising costs.

• Traeger Inc (NYSE:COOK) anticipates continued pressure on accessories revenues in 2025, driven by expected declines in MEATER performance.

• The company faces uncertainty regarding tariffs, with approximately 50% of its sales driven by goods imported from China, potentially impacting future financial results.

• Despite revenue growth, Traeger Inc (NYSE:COOK) reported a net loss of $7 million in Q4 2024, although this was an improvement from the previous year's loss.

• The company expects a year-over-year decline in revenues and adjusted EBITDA in Q1 2025, reflecting challenges in multiple segments and the impact of tariffs.