Traeger, Inc. Reports 2.7% Revenue Increase but Wider Net Loss in Q3 2025

Traeger, Inc. reported its financial results for the third quarter of 2025, revealing a revenue increase of 2.7% to $125.4 million compared to $122.1 million in the same period last year. However, the company experienced a net loss of $89.8 million, significantly higher than the $19.8 million loss reported in the third quarter of 2024. For the nine months ending September 30, 2025, revenue decreased by 4.9% to $414.2 million, down from $435.4 million in the prior year, while the net loss for this period also widened to $98.0 million from $27.1 million.

The increase in quarterly revenue was primarily driven by higher sales of consumables and grills, with consumables sales rising by 12.3% to $25.3 million. Grills sales increased by 2.2% to $76.6 million, attributed to a rise in average selling prices despite a decline in unit volume. Conversely, accessory sales fell by 4.3% to $23.5 million, largely due to decreased sales of MEATER smart thermometers. The gross profit for the quarter was $48.5 million, reflecting a gross margin of 38.7%, down from 42.3% a year earlier, primarily due to tariff-related costs.

Significant operational changes included the implementation of "Project Gravity," a strategic initiative aimed at streamlining operations and reducing costs. This initiative has led to restructuring expenses of $6.2 million in the third quarter and $9.7 million for the nine-month period. Additionally, the company recorded a non-cash goodwill impairment charge of $74.7 million, reflecting a decrease in the fair value of its reporting unit due to a sustained decline in stock price.

Traeger continues to focus on its omnichannel distribution strategy, which includes retail and direct-to-consumer sales. As of September 30, 2025, the company had cash and cash equivalents of $5.9 million, with no outstanding loans under its revolving credit facility. The company anticipates that its existing cash, along with available credit, will be sufficient to meet its operational needs for at least the next twelve months. However, it acknowledges the ongoing challenges posed by macroeconomic conditions, including inflation and tariffs, which may impact future performance.