Traeger, Inc. reported a revenue decline of 7.4% for the fiscal year ended December 31, 2025, totaling $559.5 million compared to $604.1 million in 2024. The company experienced a net loss of $115.2 million, a significant increase from the previous year's loss of $34.0 million. The decrease in revenue was primarily attributed to lower sales of grills and accessories, which fell by 8.2% and 16.3%, respectively. However, sales of consumables increased by 6.9%, driven by higher demand for wood pellets and food consumables. The gross profit also decreased by 14.1% to $219.3 million, with gross margin dropping to 39.2% from 42.3% in the prior year, largely due to tariff-related costs and obsolescence adjustments.
In response to these challenges, Traeger initiated "Project Gravity," a strategic optimization plan aimed at streamlining operations and reducing costs. This initiative includes a reduction in workforce, centralization of the MEATER business, and a shift from direct-to-consumer sales to a distributor model in certain European markets. The company recorded $21.8 million in restructuring costs related to these changes. As of December 31, 2025, Traeger had approximately 433 employees, down from previous levels due to the restructuring efforts.
The company’s operational metrics indicate a strong community engagement, with 2.8 million active users on the Traeger app, which supports its wood pellet grills. Despite the revenue decline, Traeger estimates that only 3.4% of the 78 million U.S. households that own a grill currently use Traeger products, suggesting significant growth potential. The company is focused on expanding its market share and enhancing its product offerings, including the integration of new technologies into its grilling systems.
Looking ahead, Traeger remains cautious about macroeconomic conditions, including inflation and trade policies that could impact consumer spending and operational costs. The company plans to leverage its brand strength and community engagement to drive future growth, while also navigating the complexities introduced by its restructuring initiatives. The outlook remains uncertain, but Traeger is committed to optimizing its operations and enhancing profitability in the long term.
About Traeger, Inc.
Traeger, Inc. is a leader in wood pellet grills, offering versatile outdoor cooking systems that utilize proprietary IoT technology for remote control and monitoring. Its core products include grills, consumables, accessories, and digital content, serving a broad consumer base in the U.S. and globally. The company emphasizes community, innovation, and brand authenticity to differentiate in the competitive outdoor cooking market.
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