Highest-materiality recent filing
Latham Group refinances debt: new $300M term loan and $75M revolver, maturing 2033/2031
New senior secured credit agreement with Jefferies Finance as administrative agent; replaces Feb 2022 Barclays facility.
Latham Q2 net sales up 14.4% to $197.5M; raises FY 2026 guidance
Net sales $197.5M (+14.4% YoY); organic growth 10.3%; Sand States sales up double-digit.
Latham Group Q1 net sales up 5.3% to $117.3M; reaffirms FY 2026 guidance
Net loss of $8.5M ($0.07 diluted EPS) vs $6.0M loss in prior year; adjusted EBITDA +9.2% to $12.2M.
Latham corrects cash flow, reports Q4 sales up 14.5% to $100M, FY net income $11.1M
Corrected FY 2025 operating cash flow to $63.4M (previously $51.4M) due to $12M deposit reclassification.
Latham posts Q4 net sales $100M (+14.5%), full-year net income $11.1M, guides FY2026 sales $580-610M
Q4 net sales $100.0M (+14.5% YoY); net loss narrowed to $7.0M from $29.2M loss.
Latham Group names Sean Gadd as new CEO; Scott Rajeski retires after 8 years
Scott Rajeski to retire as CEO and board member effective Jan 4, 2026; will serve as special advisor for ~6 months.
Latham Group Q3 net sales up 7.6% to $161.9M, raises FY2025 guidance midpoints
Net sales $161.9M (+7.6% YoY), net income $8.1M (+37.7%), diluted EPS $0.07 vs $0.05.
Net sales $172.6M (+7.8% YoY); net income $16.0M ($0.13 diluted EPS) vs $13.3M ($0.11) in Q2 2024.
Latham Q1 sales up 0.7% to $111.4M, net loss narrows; CCO resigns; FY guidance maintained
Net sales $111.4M (+0.7% YoY); net loss $6.0M vs $7.9M; diluted EPS -$0.05 vs -$0.07.
Latham Group Q4 net loss $29.2M; FY loss $17.9M; guides FY25 sales +8%, Adj. EBITDA +19%
Q4 net sales $87.3M (-4% YoY); net loss $29.2M ($0.25/diluted share) vs prior year net income $0.1M.
Latham Group holds site visit, details Sand State fiberglass growth strategy
Presentation targets fiberglass pool adoption in FL, TX, AZ, NV, CA (Sand States).
Latham Q3 net sales down 6.4% YoY to $150.5M; narrows FY2024 guidance
Net sales of $150.5M, down from $160.8M YoY; net income $5.9M ($0.05 EPS), flat vs $6.2M prior year.
Latham Group appoints former Emerson CFO Frank Dellaquila to board and audit committee chair
Robert D. Evans resigned as Class II director and Audit Committee chair, effective October 9, 2024; not due to any disagreement with management or board.
Q2 net sales $160.1M, down 9.6% YoY; net income $13.3M ($0.11 diluted EPS) up from $5.7M.
Latham Group Q1 sales $110.6M, net loss $7.9M, adj. EBITDA $12.3M
Net sales $110.6M, down 19.7% YoY; gross margin expanded 350 bps to 27.7%.
Latham Group stockholders elect Morno-Wade and Pratt as Class III directors, ratify Deloitte auditor
Suzan Morno-Wade elected with 98,188,638 for, 1,734,319 withheld, 1,622,948 broker non-votes.
Latham Group Q4 sales $90.9M (-15.8% YoY); FY net loss $2.4M; guides 2024 sales $490-520M
Q4 net sales $90.9M, down 15.8% YoY; net income $0.1M vs loss $19.0M prior year.
Latham Group board member Hawkinson resigns; board size reduced to 8
Alexander L. Hawkinson resigned as Class III director effective February 21, 2024, citing no disagreement.
Latham Q3 sales $160.8M (-15% YoY), guidance lowered for FY2023
Net sales $160.8M, down 15.1% YoY; net income $6.2M vs $11.9M prior year.
Latham Group appoints Oliver Gloe as CFO effective Nov 13, 2023; Borseth transitions to advisor
Oliver Gloe appointed CFO of Latham Group (Nasdaq: SWIM), effective Nov 13, 2023; will join as VP Finance on Oct 30.
Latham Q2 net sales $177.1M, down 14.3% YoY; guides FY net sales $570-600M
Net sales $177.1M (-14.3% YoY); net income $5.7M vs $4.3M; adjusted EBITDA $31.0M (17.5% margin).
Latham Group standardizes executive severance and extends Interim CFO Borseth through Dec 2023
Amends employment agreements for CEO Scott Rajeski, execs; moves to at-will with new Severance Plan standardizing terms.
Latham Q1 net sales down 28% to $137.7M; net loss $14.4M; affirms FY23 guidance
Net sales $137.7M, down 28.1% YoY; net loss $14.4M vs $2.8M loss prior year.
Latham Group shareholders approve 8M share increase to 2021 equity plan; SARs grants vest
Stockholders approved First Amendment to 2021 Omnibus Equity Plan, increasing share pool by 8,000,000 shares.
Latham Group appoints DeLu Jackson and Brian Pratt to board; Dane Derbyshire resigns
Dane Derbyshire resigned as Class III director effective March 29, 2023, due to departure from Pamplona Capital Management; no disagreement with management.
Latham reports Q4 net sales down 22.3% YoY to $107.9M; guides FY2023 net sales $565M-$615M
Q4 net loss of $19.0M ($0.17/share) vs. net loss of $6.0M a year ago; Adjusted EBITDA $4.4M (4.1% margin), down 84% YoY.
Latham Group enters employment agreement with J. Mark Borseth as Strategic Advisor then Interim CFO
Borseth to serve as Strategic Advisor from Feb 13 until CFO hired or March 17, then as Interim CFO.
Latham Group CFO Robert Masson resigns; reaffirms FY2022 guidance
Robert Masson to resign as CFO effective March 17, 2023 for family reasons; no disagreement on matters.
Latham Group updates stockholder nomination deadlines under universal proxy rules
Deadline for proposals under Rule 14a-8 to be included in proxy was November 24, 2022.
Latham Group Q3 net sales +16.9% to $189.4M; guides FY net sales $685-700M, down from $750-770M
Q3 net income $11.9M ($0.10/sh) vs loss $11.3M ($0.10 loss) YoY; adjusted EBITDA $42.3M (+17%).
Latham Group Q2 net sales $206.8M (+14.3% YoY); FY22 guidance cut as packaged pools soften
Net sales $206.8M (+14.3% YoY); net income $4.3M vs loss $53.6M; Adj EBITDA $48.7M (+13.5%).
Latham Group director O'Brien resigns from board; Wynnchurch Funds waive rights, cap vote at 9.9%
Director Christopher O'Brien resigned effective July 20, 2022; no disagreement with management or board.
Latham Group announces CFO succession: Borseth retiring, Masson appointed
CFO Mark Borseth to retire; transitions to Strategic Advisor through Dec 31, 2022.
Net sales $191.6M (+28.8% YoY); net loss $2.8M vs net income $8.5M prior year; adjusted EBITDA $48.0M (+43.1%).
Latham Group stockholders re-elect three Class I directors and ratify auditor
James E. Cline, Mark P. Laven and Christopher O'Brien elected as Class I directors through 2025.
Latham Group Q4 sales up 24% to $138.9M; FY2022 guidance $850-880M revenue
Q4 net sales $138.9M (+24.1% YoY); Adj. EBITDA $27.3M (+56.5%), margin 19.7%.
Andrew Singer resigns from Latham Group board; Dane Derbyshire elected
Andrew Singer resigned as director on Feb 25, 2022, due to his departure as employee of Pamplona Capital Management.
Revolving credit facility $75M; term loan facility $325M; proceeds used to repay prior credit agreement.
Latham Group names Sanjeev Bahl COO effective Jan 24; base salary $350k
Sanjeev Bahl appointed COO of Latham Pool Products, effective January 24, 2022.
Latham Group posts investor presentation with Radiant Pools acquisition, Q4 resin/fiberglass update
Management will host virtual investor meetings at Truist Securities Industrials & Services Summit on Dec. 7, 2021.
Latham Group acquires Radiant Pools for $90M in cash; expands into aluminum-walled pool category
Acquired Radiant Pools for $90M in cash; ~$88M paid at closing, $0.9M in escrow.
Latham Q3 net sales up 27% to $162M, but net loss of $11.3M; affirms FY guidance
Net sales $162.0M, +27% YoY; net loss $11.3M vs net income $17.7M prior year.
Latham Group COO Jeffrey Leake resigns effective Sept 8, 2021
COO Jeffrey A. Leake resigned effective September 8, 2021 to pursue other opportunities.
Latham Q2 net sales up 60.3% to $180.9M; net loss of $53.6M; raises lower end of FY guidance
Net sales $180.9M (+60.3% YoY); net loss $53.6M vs net income $16.4M last year due to $75.5M non-cash stock-based compensation.
Latham Group expects $138M stock-based comp expense in FY 2021 from IPO unit conversion
FY 2021 stock-based comp expense expected ~$138M, ~$131M from conversion of Class B units into restricted/common stock.
On May 1, 2025, Joshua D. Cowley, Chief Commercial Officer of the Company, notified the Company that he will resign from his position with the Company effective as of May 16, 2025 to pursue another opportunity.
On October 9, 2024, Robert D. Evans notified the Board of Directors (the “Board”) of Latham Group, Inc. (the “Company”) that he will resign as a Class II member of the Board and as Chair of the Audit Committee of the Board (the “Audit Committee”), each effective immediately.
On October 9, 2024, the Board appointed Frank J. Dellaquila, age 67, to the Board as a Class II member of the Board and to serve as Chair of the Audit Committee, in each case effective immediately to fill the vacancy upon the resignation of Mr. Evans.
On February 21, 2024, Alexander L. Hawkinson notified the Board of Directors (the “Board”) of Latham Group, Inc. (the “Company”) that he is resigning as a Class III member of the Board, effective immediately.
appointed Oliver C. Gloe, age 49, as Vice President, Finance of the Company and Latham Pool Products, Inc., a subsidiary of the Company (collectively, the “Latham Companies”), effective from October 30, 2023 until November 12, 2023, and Chief Financial Officer of the Latham Companies, effective November 13, 2023.
On March 30, 2023, the Board appointed DeLu Jackson, age 50, to the Board as a Class I member of the Board to fill an existing vacancy on the Board following the departure of a Class I member in July 2022.
On March 29, 2023, Dane L. Derbyshire notified the Board of Directors (the “Board”) of Latham Group, Inc. (the “Company”) that he will resign as a Class III member of the Board and member of the Nominating and Corporate Governance Committee of the Board (the “Nominating and Corporate Governance Committee”), each effective immediately, in connection with his departure from Pamplona Capital Management.
On March 30, 2023, the Board appointed Brian Pratt, age 28, to the Board as a Class III member of the Board and to serve as a member of the Nominating and Corporate Governance Committee to fill the vacancy upon the resignation of Mr. Derbyshire, effective immediately.
Following the Effective Date, Mr. Borseth will become the Company’s Interim Chief Financial Officer .
On January 16, 2023, Robert L. Masson II, Chief Financial Officer of Latham Group, Inc. (the “Company”), notified the Company that he will resign his position with the Company effective as of March 17, 2023 (the “Effective Date”) for family reasons.
On July 20, 2022, Christopher O’Brien notified the Board of Directors (the “Board”) of Latham Group, Inc. (the “Company”) that he will resign effective immediately.
On June 14, 2022, Latham Group, Inc. (the “Company”) (Nasdaq: SWIM) announced that in connection with the retirement of its Chief Financial Officer, J. Mark Borseth, the Company has appointed Robert L. Masson II as the Chief Financial Officer of the Company, effective as of July 11, 2022
Max materiality 0.85 · Median 0.60 · Most common event earnings