Traeger, Inc. COOK
Our mission is to bring people together to create a more flavorful world.
Traeger is the creator and category leader of the wood pellet grill, an outdoor cooking system that ignites all-natural hardwoods to grill, smoke, bake, roast, braise, and barbecue. Our Traeger grills are versatile and easy to use, empowering cooks of all skill sets to create delicious meals with a wood-fired flavor that cannot be replicated with gas, charcoal, or electric grills.
At the heart of our brand is a passionate and engaged community called the Traegerhood, which includes everyone from casual grillers to competition pitmasters and professional chefs. Our flagship wood pellet grills are internet of things ("IoT") devices that allow owners to program, monitor, and control their grill through our Traeger app, which engaged 2.8 million active users for the fiscal year ended December 31, 2025. We complement our innovative cooking technologies with an extensive digital library of original recipes and Traeger cooking classes. In addition, we offer consumable products, such as wood pellets, rubs, and sauces, that drive recurring revenue.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $559.5M | $604.1M | $605.9M | $655.9M | $785.5M | $545.8M | $363.3M | — |
| Cost of revenue | $340.2M | $348.6M | $382.3M | $427.1M | $484.8M | $311.0M | $207.5M | — |
| Gross profit | $219.3M | $255.5M | $223.6M | $228.8M | $300.8M | $234.8M | $155.8M | — |
| R&D | $12.4M | $15.2M | $11.5M | $10.8M | $18.8M | $6.8M | — | — |
| SG&A | $95.0M | $113.5M | $129.8M | $166.8M | $158.6M | $50.2M | $45.3M | — |
| Total operating expenses | $317.1M | $258.4M | $279.0M | $574.7M | $361.9M | $176.5M | $145.3M | — |
| Operating income | -$97.7M | -$2.9M | -$55.4M | -$345.9M | -$61.1M | $58.3M | $10.5M | — |
| Interest expense | $31.4M | $33.5M | $31.3M | $27.9M | $26.6M | $34.1M | $39.5M | — |
| Pre-tax income | -$119.3M | -$36.0M | -$82.4M | -$381.0M | -$90.3M | $31.8M | -$29.5M | — |
| Income tax | $4.1M | $2.0M | $2.0M | $1.2M | $1.5M | $749.0K | $124.0K | — |
| Net income | -$115.2M | -$34.0M | -$84.4M | -$382.1M | -$91.8M | $31.1M | -$29.6M | — |
| EPS, basic | -0.87 | -0.27 | -0.68 | -3.19 | -0.82 | 0.29 | -0.27 | — |
| EPS, diluted | -0.87 | -0.27 | -0.68 | -3.19 | -0.82 | 0.29 | -0.27 | — |
| Shares, diluted (wtd. avg.) | 133.1M | 127.4M | 123.7M | 119.7M | 112.4M | 108.7M | 108.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $19.6M | $15.0M | $29.9M | $51.6M | $16.7M | $11.6M | $7.1M | $6.8M |
| Receivables | $82.1M | $85.3M | $59.9M | $42.0M | $92.9M | $64.8M | — | — |
| Inventory | $98.8M | $107.4M | $96.2M | $153.5M | $84.6M | $68.3M | — | — |
| Total current assets | $214.8M | $243.1M | $216.4M | $274.2M | $290.9M | $158.5M | — | — |
| Property, plant and equipment | $33.7M | $36.9M | $42.6M | $55.5M | $55.5M | $32.4M | — | — |
| Goodwill | $0 | $74.7M | $74.7M | $74.7M | $297.0M | $256.8M | — | — |
| Other intangibles | $387.1M | $428.5M | $470.5M | $512.9M | $555.2M | $539.8M | — | — |
| Total assets | $676.0M | $830.7M | $860.8M | $946.7M | $1.12B | $989.0M | — | — |
| Accounts payable | $14.1M | $27.7M | $33.3M | $29.8M | $42.7M | $21.7M | — | — |
| Short-term debt | $250.0K | $250.0K | $250.0K | $250.0K | $0 | $3.4M | — | — |
| Total current liabilities | $80.1M | $122.2M | $134.0M | $112.9M | $166.2M | $80.1M | — | — |
| Long-term debt | $399.6M | $398.4M | $397.3M | $468.1M | $379.4M | $433.6M | — | — |
| Total liabilities | $505.1M | $554.2M | $569.4M | $611.8M | $607.6M | $514.5M | — | — |
| Retained earnings | -$804.1M | -$688.9M | -$654.9M | -$570.5M | -$63.5M | -$96.5M | — | — |
| Total equity | $170.8M | $276.4M | $291.3M | $334.9M | $606.0M | $474.5M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $20.5M | $23.9M | $64.0M | $5.1M | -$28.4M | $46.6M | $18.5M | — |
| Depreciation and amortisation | $12.1M | $13.9M | $15.0M | $13.8M | $9.2M | $7.8M | $6.1M | — |
| Stock-based compensation | $15.3M | $27.9M | $53.2M | $87.7M | $81.1M | $12.8M | $2.4M | — |
| Capital expenditure | $6.9M | $12.0M | $19.9M | $18.4M | $22.5M | $14.1M | $7.5M | — |
| Investing cash flow | -$7.3M | -$12.3M | -$17.4M | -$18.9M | -$79.9M | -$27.3M | -$9.0M | — |
| Financing cash flow | -$8.5M | -$26.5M | -$68.3M | $48.6M | $113.5M | -$14.8M | -$9.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-015450.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $363.3M | $545.8M | $785.5M | $655.9M | $605.9M | $604.1M | $559.5M |
| Gross profit | — | $155.8M | $234.8M | $300.8M | $228.8M | $223.6M | $255.5M | $219.3M |
| Net income | — | -$29.6M | $31.1M | -$91.8M | -$382.1M | -$84.4M | -$34.0M | -$115.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Shareholder vote Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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