Traeger Q1 revenue down 34% to $94.1M; raises FY 2026 Adj. EBITDA & margin outlook

Traeger, Inc.

• Revenue $94.1M (-34.3% YoY); grill revenue $47.4M (-45.4%), consumables $26.1M (-13.7%), accessories $20.6M (-21.8%).
• Net income $2.9M ($1.08 diluted EPS) vs net loss $0.8M ($0.30 loss) YoY; adjusted net income $4.0M ($1.49 EPS).
• Adjusted EBITDA $17.3M vs $22.5M; gross margin 45.7% includes $12.4M IEEPA tariff refund; ex-refund margin 32.6%.
• Raises full-year 2026 adjusted EBITDA and gross margin outlook; reiterates revenue guidance on Project Gravity momentum.
• Project Gravity on track; launched Westwood and Irontop grills; partial offsets from MEATER competition and tariff uncertainty.

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