Quarterly ResultMay 6, 2026, 07:37 AM
Latham Group Q1 Net Sales Up 5.3% to $117.3M; Net Loss Widens to $(8.5)M
AI Summary
Latham Group, Inc. reported a 5.3% increase in net sales to $117.3 million for the fiscal quarter ended March 28, 2026, compared to the prior year. Despite higher gross profit, the company's net loss widened to $(8.5) million, or $(0.07) per share, from $(6.0) million in the same period last year, primarily due to increased operating expenses. The company also completed the acquisition of Freedom Pools for $15.4 million and utilized $31.0 million from its revolving credit facility.
Key Highlights
- Acquired Freedom Pools in Australia for $15.4 million in February 2026.
- Net sales increased 5.3% to $117.3 million from $111.4 million year-over-year.
- Net loss widened to $(8.5) million, compared to $(6.0) million in prior year.
- Basic and diluted net loss per share was $(0.07), up from $(0.05).
- Gross profit rose 13.0% to $37.2 million from $32.9 million.
- Net cash used in operating activities was $(47.7) million.
- Cash balance at period-end was $27.5 million, down from $71.0 million.
- Borrowed $31.0 million on the revolving credit facility.