Traeger, Inc. Reports 13.6% Revenue Decline and Net Loss in Q2 2025

Traeger, Inc. reported a decline in financial performance for the second quarter of 2025, with revenues of $145.5 million, a decrease of 13.6% from $168.5 million in the same period of 2024. For the first half of 2025, total revenue was $288.8 million, down 7.9% from $313.4 million year-over-year. The company also recorded a net loss of $7.4 million for the quarter, compared to a loss of $2.6 million in the prior year, and a net loss of $8.2 million for the six months ended June 30, 2025, compared to a loss of $7.3 million in the same period of 2024.

The decline in revenue was primarily attributed to a significant drop in grill sales, which fell by 21.9% to $74.2 million, driven by a reduction in unit volume exceeding 20%. This was partially offset by a 7.5% increase in consumables sales, which reached $36.4 million, and a decrease in accessory sales, which fell by 11.9% to $34.9 million. The company noted that the average selling price of grills increased due to pricing actions and a shift in account mix, although this was not enough to counterbalance the drop in unit sales.

In terms of operational changes, Traeger initiated a restructuring plan aimed at streamlining its organizational structure and reducing costs. This plan, approved on May 15, 2025, is expected to result in approximately $3.5 million in restructuring costs primarily related to severance and personnel expenses. The company anticipates that the majority of these costs will be incurred by the end of 2025, with the plan expected to be substantially completed by the end of fiscal year 2026.

Traeger’s cash and cash equivalents stood at $10.3 million as of June 30, 2025, down from $14.9 million at the end of 2024. The company has a borrowing capacity of $125 million under its Revolving Credit Facility and $44.6 million under its Receivables Financing Agreement, with $9 million drawn from the latter. The company reported a net cash used in operating activities of $2.5 million for the first half of 2025, compared to a net cash provided of $1.3 million in the same period of 2024.

Looking ahead, Traeger remains cautious about the macroeconomic environment, including inflation and potential impacts from tariffs, which could affect consumer demand for its products. The company is focused on executing cost-saving initiatives while maintaining product quality and reliability. Despite the challenges, Traeger continues to believe that its existing cash reserves and credit facilities will be sufficient to meet its operational needs for at least the next twelve months.