Lazydays Holdings Inc. today announced its third quarter 2024 earnings results.
Ron Fleming, interim CEO, said, “Despite challenging financial results during the third quarter, which continued to be impacted by economic and other industry-wide demand headwinds, we are very encouraged by the completion of last week’s recapitalization transactions. These transformative transactions have fortified the company’s financial foundation and operational focus and mark a turning point for Lazydays as we position ourselves for a stronger, more agile future. With a streamlined balance sheet, enhanced liquidity, and a simplified dealership network, we are better equipped to navigate the evolving RV landscape and deliver on our commitment to industry leadership.”
Total revenue for the third quarter was $213.5 million compared to $280.7 million for the same period in 2023. Total revenue for the nine months ended September 30, 2024 was $722.7 million compared to $884.7 million for the same period in 2023.
Net loss for the third quarter was $17.7 million compared to net loss of $5.6 million for the same period in 2023. Adjusted net loss, a non-GAAP measure, was $16.2 million compared to adjusted net loss of $2.9 million for the same period in 2023. Net loss per diluted share was $1.37 compared to net loss per diluted share of $0.48 for the same period in 2023. Adjusted net loss per diluted share, a non-GAAP measure, was $1.27 compared to adjusted net loss per diluted share of $0.29 for the same period in 2023.
Net loss for the nine months ended September 30, 2024 was $83.9 million compared to net loss of $2.3 million for the same period in 2023. Adjusted net loss, a non-GAAP measure, was $62.1 million compared to adjusted net income of $2.2 million for the same period in 2023. Net loss per diluted share was $6.24 compared to net loss per diluted share of $0.49 for the same period in 2023. Adjusted net loss per diluted share, a non-GAAP measure, was $4.73 compared to adjusted net loss per diluted share of $0.07 for the same period in 2023.
See Reconciliation of Non-GAAP Measures for additional details regarding our adjusted results of operations.
A conference call was scheduled for at 8:30 a.m. ET yesterday that will be broadcast live over the internet.
The conference call may be accessed by telephone at (877) 407-8029 / +1 (201) 689-8029. To listen live on the Lazydays’ website or for replay, visit https://www.lazydays.com/investor-relations.
