Tampa, Fla.-based Lazydays Holdings has provided an update with preliminary third quarter-to-date results through July 31. “Given the unique business environment created by the COVID-19 pandemic the company believes it is helpful to provide periodic updates during this period of uncertainty,” it said in its announcement.
Preliminary key metrics for July 2020 are provided below, as well as a reconciliation of Adjusted EBITDA, a non-GAAP financial measure, to net income. The company said it is important to note that these results are preliminary and have not been subjected to a quarterly review.
July 2020 Preliminary Results:
- RV unit sales volume increased 48 percent to 948 units versus 640 units in July 2019
- RV unit revenue increased 66 percent to $71 million versus $43 million in July 2019
- Growth was across locations in all regions and same-store RV unit revenue increased more than 40 percent compared to the prior-year-period
- Total revenue increased 62 percent to $78 million compared to $48 million in July 2019
- Net Income increased to $3.5 million versus a loss of $0.2 million in July 2019
- Adjusted EBITDA increased 276 percent to $6.4 million versus $1.7 million in July 2019
- August demand remains strong
- Incoming RV shipments from OEMs continue to increase, but inventory remains tight
