Lazydays Holdings Reports 44.3% Revenue Decline and $34.1 Million Net Loss in Q2 2025

Lazydays Holdings, Inc. reported significant declines in revenue and profitability for the second quarter of 2025, as detailed in its latest 10-Q filing. The company generated total revenue of $131.3 million for the three months ended June 30, 2025, a decrease of 44.3% compared to $235.6 million in the same period last year. The decline was primarily driven by a 46% drop in new vehicle retail sales, which fell to $77.5 million from $143.3 million, and a 48.5% decrease in pre-owned vehicle retail sales, down to $29.5 million from $57.3 million. The overall gross profit also decreased to $34.2 million, down 27.9% from $47.4 million in the prior year.

The company’s financial performance reflects substantial changes compared to the previous fiscal period, particularly due to the divestiture of several dealerships. Lazydays sold nine dealerships during the first half of 2025, which contributed to a revenue loss of approximately $55.7 million. The divestitures included locations in states such as Indiana, Arizona, and Florida, which were part of a strategic decision to streamline operations. The company also recorded impairment charges of $7.7 million during the quarter, primarily related to indefinite-lived intangible assets, reflecting lower revenue projections and a decline in stock price.

Operationally, Lazydays has been focusing on managing its inventory levels, with a reported decrease in new vehicle days’ supply to 91 days, down from 205 days at the end of 2024. The company employed approximately 800 people across its 13 dealerships as of June 30, 2025. Despite the challenges, Lazydays has seen a significant increase in consignment vehicle revenue, which rose to $2.1 million, up 269.8% from the previous year, indicating a strategic pivot towards this sales channel.

Looking ahead, Lazydays faces substantial doubt regarding its ability to continue as a going concern, as it reported a net loss of $34.1 million for the first half of 2025 and an accumulated deficit of $148.9 million. The company has limited access to credit facilities, having eliminated its ability to borrow under its revolving credit facility. Management indicated that future liquidity will depend on generating positive cash inflows from operations and securing additional capital. The company is actively pursuing various strategies to improve its financial position, including potential asset sales and restructuring efforts to enhance operational efficiency.