Latham Group Q4 net loss $29.2M; FY loss $17.9M; guides FY25 sales +8%, Adj. EBITDA +19%

Latham Group, Inc.

Q4 net sales $87.3M (-4% YoY); net loss $29.2M ($0.25/diluted share) vs prior year net income $0.1M.
FY net sales $508.5M (-10.2%); net loss $17.9M ($0.15/share) vs $2.4M loss in 2023; gross margin expanded 320 bps to 30.2%.
2025 guidance: net sales $535-565M (midpoint ~8% growth); Adj. EBITDA $90-100M (midpoint ~19% growth); capex $27-33M.
Cash $56.4M after $65M Coverstar Central acquisition and $21M debt repayment; net debt leverage 2.8x.

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