---
schema_version: "secwatch.filing_event.v1"
accession: "0001857853-23-000087"
form_type: "8-K/A"
ticker: "COOK"
cik: "0001857853"
company_name: "Traeger, Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T02:54:21.132941+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Traeger restates Q1 2023 financials; material weakness in controls; Q2 FY2023 net loss $30.2M

## Summary
- Audit committee concludes Q1 2023 financials should no longer be relied upon; restatement due to incorrect derivative accounting under ASC 815.
- Material weakness identified in internal controls over financial reporting related to complex derivatives; remediation to be detailed in 10-Q/A.
- Corrected Q2 FY2023: revenue $171.5M (down 14.4% YoY), net loss $30.2M ($0.25 loss per share), adjusted EBITDA $21.5M (up from $17.0M).
- FY2023 revenue and adjusted EBITDA guidance reiterated; corrections are non-cash with no impact on revenues or adjusted EBITDA.
- G&A expenses surged to $52.4M due to $32.1M equity-based compensation from CEO and IPO performance-based RSU cancellation.

## SEC filing metadata
- accession: 0001857853-23-000087
- form_type: 8-K/A
- ticker: COOK
- cik: 0001857853
- company_name: Traeger, Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1857853/000185785323000087/0001857853-23-000087-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1857853/000185785323000087/tra-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001857853-23-000087
- JSON: https://secwatch.observer/filing/0001857853-23-000087.json
- Plain text: https://secwatch.observer/filing/0001857853-23-000087.txt

## Key facts
- Earnings Releases
  Traeger, Inc. reported second quarter ended June 30, 2023 results: revenue $171.5 million, net income $30.2 million, EPS $0.25 per diluted share. Guidance reaffirmed.
  - Period: second quarter ended June 30, 2023
  - Revenue: $171.5 million
  - Net income: $30.2 million
  - EPS: $0.25 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: in net loss to $41.1 million for the six months ended June 30, 2023. The corrected press release reads: Second Quarter FY 2 3 Results • Total revenues decreased 14.4% to $171.5 million • Gross profit margin of 36.9%, up 25 basis points compared to prior year • Net loss of $30.2 million compared to net loss of $133.1 million compared to the prior year • Adjusted
  evidence_url: https://www.sec.gov/Archives/edgar/data/1857853/000185785323000087/0001857853-23-000087-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.