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Lazydays (LAZY) reported a net loss of $1.5 million for Q1 2023, contrasting sharply with a net income of $27.1 million in Q1 2022. Revenue fell to $295.7 million, down from $376.2 million year-over-year. Adjusted net income was $1.2 million, compared to $28.2 million in the same period last year. The company's net loss per diluted share stood at $0.17, significantly down from a profit of $1.17 a year ago. Despite the losses, Lazydays opened a new greenfield location in Council Bluffs, Iowa, expected to generate annual revenues of $35 million, with plans for three more locations by the end of 2023. The balance sheet shows $175.1 million in liquidity, including $41 million in cash and $20 million in revolving credit.
Lazydays Holdings is set to announce its first quarter 2023 financial results on April 27, 2023, prior to market opening. A conference call will follow at 8:30 a.m. Eastern Time to discuss the results. The company's geographic expansion strategy, which involves both acquisitions and new locations, has continued to grow, enhancing its position in the RV industry. Lazydays RV emphasizes customer experience and offers a wide range of RV brands and services to meet the needs of RVers. The company operates under the stock symbol LAZY.
Lazydays, trading under the ticker LAZY, reported the results of warrant exercises following their March 2018 de-SPAC transaction, with common and preferred warrants expiring on March 15, 2023. Out of approximately 4.3 million common share warrants, about 4.0 million were exercised, resulting in the issuance of approximately 2.7 million shares and proceeds of
Lazydays (NASDAQ: LAZY) reported its financial results for Q4 and the fiscal year ended December 31, 2022. Q4 revenue fell to $243.5 million from $322.5 million year-over-year, resulting in a net loss of ($1.4) million, compared to a net income of $16.9 million in Q4 2021. Full-year revenue increased to $1.3 billion, but net income decreased to $66.4 million from $82.0 million in 2021. The company acquired Findlay RV, expected to add $40 million in annualized revenue, and ended Q4 with $61.7 million in cash. Share repurchases totaled $44.5 million, affecting 18.6% of shares outstanding.
Lazydays (LAZY) announced its acquisition of Findlay RV located in Las Vegas, Nevada, marking its first acquisition of 2023. The store is strategically positioned near four top RV market states, enhancing Lazydays' operations in Arizona. The acquisition is expected to contribute approximately $40 million in annualized revenue once fully operational. Concurrently, Lazydays will offer the Tiffin brand in Las Vegas, expanding its existing lineup that includes Coachmen and Winnebago. This acquisition adds to Lazydays’ growth strategy, increasing its total locations to nineteen.
