Traeger (COOK) financial statements
Traeger reported revenue of $560M in fiscal 2025, up 7.5% a year over 6 years.
Net income was -$115M and the operating margin -17.5%, against 2.9% in 2019.
Free cash flow was $14M.
The diluted share count rose 22% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Traeger's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $363M | $546M | $786M | $656M | $606M | $604M | $560M |
| Cost of revenue | $208M | $311M | $485M | $427M | $382M | $349M | $340M |
| Gross profit | $156M | $235M | $301M | $229M | $224M | $255M | $219M |
| Research and development | — | $7M | $19M | $11M | $12M | $15M | $12M |
| Selling, general and admin | $112M | $144M | $324M | $298M | $239M | $223M | $185M |
| Operating income | $10M | $58M | -$61M | -$346M | -$55M | -$3M | -$98M |
| Interest expense | $39M | $34M | $27M | $28M | $31M | $34M | $31M |
| Pre-tax income | -$29M | $32M | -$90M | -$381M | -$82M | -$36M | -$119M |
| Income tax | $124,000 | $749,000 | $1M | $1M | $2M | -$2M | -$4M |
| Net income | -$30M | $31M | -$92M | -$382M | -$84M | -$34M | -$115M |
| EPS (diluted) | -$13.50 | $14.50 | -$41.00 | -$159.50 | -$34.00 | -$13.50 | -$43.50 |
| Diluted shares | 2M | 2M | 2M | 2M | 2M | 3M | 3M |
| Gross margin | 42.9% | 43.0% | 38.3% | 34.9% | 36.9% | 42.3% | 39.2% |
| Operating margin | 2.9% | 10.7% | -7.8% | -52.7% | -9.2% | -0.5% | -17.5% |
| Net margin | -8.1% | 5.7% | -11.7% | -58.3% | -13.9% | -5.6% | -20.6% |
Balance sheet
Fiscal years, from Traeger's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $7M | $12M | $17M | $39M | $30M | $15M | $20M |
| Receivables | — | $65M | $93M | $42M | $60M | $85M | $82M |
| Inventory | — | $68M | $142M | $153M | $96M | $107M | $99M |
| Total current assets | — | $158M | $266M | $274M | $216M | $243M | $215M |
| Property, plant and equipment | — | $32M | $55M | $56M | $43M | $37M | $34M |
| Goodwill | — | $257M | $297M | $75M | $75M | $75M | $0 |
| Total assets | — | $989M | $1.2B | $947M | $861M | $831M | $676M |
| Total current liabilities | — | $80M | $166M | $113M | $134M | $122M | $80M |
| Long-term debt | — | $434M | $379M | $468M | $397M | $398M | $400M |
| Total liabilities | — | $515M | $572M | $612M | $569M | $554M | $505M |
| Shareholders' equity | — | $474M | $606M | $335M | $291M | $276M | $171M |
| Net debt | -$7M | $425M | $363M | $429M | $368M | $384M | $380M |
Cash flow
Fiscal years, from Traeger's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $18M | $47M | -$28M | $5M | $64M | $24M | $21M |
| Capital spending | $8M | $14M | $22M | $18M | $20M | $12M | $7M |
| Free cash flow | $11M | $32M | -$51M | -$13M | $44M | $12M | $14M |
| Stock-based compensation | $2M | $13M | $81M | $88M | $53M | $28M | $15M |
| Free cash flow margin | 3.0% | 5.9% | -6.5% | -2.0% | 7.3% | 2.0% | 2.4% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for COOK.
Open COOK in InvestinglyQuestions
What was Traeger's revenue in 2025?
$560M in fiscal 2025, from its 10-K filing.
How much free cash flow does Traeger generate?
$14M in fiscal 2025 (operating cash flow minus capital spending).
From Traeger's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.