Traeger Inc

For the period ended Dec 31, 2023. Filed Mar 8, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 8, 2024

COOK$65.35-9.6%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

(in thousands)

	Year-ended December 31,
	2023	2022	2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$(84,402)	$(382,140)	$(91,767)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property, plant, and equipment	15,011	13,821	9,150
Amortization of intangible assets	42,770	42,726	38,350
Amortization of deferred financing costs	2,016	1,957	2,523
Loss on disposal of property, plant, and equipment	2,188	1,140	274
Deferred income taxes	(2,133)	(1,303)	(939)
Loss on extinguishment of debt	—	—	5,185
Stock-based compensation expense	53,203	87,697	81,112
Bad debt expense	(154)	(175)	468
Unrealized loss on derivative contracts	3,997	2,440	4,821
Amortization of dedesignated cash flow hedge	(10,364)	—	—
Change in fair value of contingent consideration	4,478	6,722	3,800
Goodwill impairment	—	222,322	—
Restructuring costs	—	2,046	—
Non-cash operating lease costs	188	331	—
Other non-cash adjustments	77	3	—
Change in operating assets and liabilities:
Accounts receivable, net	(17,735)	51,052	(26,365)
Inventories	57,295	(11,931)	(67,826)
Prepaid expenses and other current assets	(4,199)	(3,046)	(5,787)
Other non-current assets	(568)	78	(681)
Accounts payable and accrued expenses	2,374	(28,211)	19,182
Other non-current liabilities	—	(435)	73
Net cash provided by (used in) operating activities	64,042	5,094	(28,427)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant, and equipment	(19,946)	(18,398)	(22,479)
Capitalization of patent costs	(460)	(506)	(563)
Proceeds from sale of property, plant, and equipment	3,028	—	—
Business combination, net of cash acquired	—	—	(56,855)
Net cash used in investing activities	(17,378)	(18,904)	(79,897)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit	115,900	179,000	118,000
Repayments on line of credit	(171,209)	(145,429)	(67,862)
Proceeds from long-term debt	—	25,000	510,000
Repayments of long-term debt	(250)	(125)	(579,921)
Payment of deferred financing costs	—	—	(8,601)
Principal payments on finance lease liabilities	(514)	(505)	(382)
Payments of acquisition related contingent consideration	(12,225)	(9,275)	—
Taxes paid related to net share settlement of equity awards	—	(41)	—
Proceeds from initial public offering, net of issuance costs	—	—	142,274
Net cash provided by (used in) financing activities	(68,298)	48,625	113,508

Net increase (decrease) in cash, cash equivalents, and restricted cash	(21,634)	34,815	5,184
Cash, cash equivalents, and restricted cash at beginning of period	51,555	16,740	11,556
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	$29,921	$51,555	$16,740

(in thousands)

(Continued)	Year-ended December 31,
	2023	2022	2021
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	$40,060	$25,138	$23,444
Cash paid for income taxes	$3,062	$2,844	$1,654
NON-CASH FINANCING AND INVESTING ACTIVITIES
Equipment purchased under finance leases	$460	$1,116	$645
Property, plant, and equipment included in accounts payable and accrued expenses	$3,975	$2,134	$8,586

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