Lazydays Holdings, Inc. (NASDAQ:GORV) posted a second-quarter net loss of $6.67 per share on revenue of $131.3 million Thursday, showing progress in its turnaround efforts despite significantly lower sales volumes. Shares edged up 0.95% in after-hours trading following the results.
Revenue declined 44.3% year-over-year from $235.6 million in Q2 2024, reflecting the company’s streamlined footprint after several non-core asset sales. Despite the drop in revenue, Lazydays improved its bottom line, with net losses narrowing to $24.6 million from $44.2 million a year ago.
Adjusted EBITDA, a non-GAAP measure, rose to -$6.2 million from -$9.4 million in the prior-year period, highlighting operational progress. Gross profit margins improved across all products and services, with the overall margin climbing to 26.0% from 20.1% in Q2 2024.
“We continued to advance our turnaround plan in the second quarter of 2025,” said CEO Ron Fleming. “Operational improvements drove higher gross profit margins across all products, and our efforts to streamline the business led to successful sales of several non-core assets.”
New vehicle retail sales fell to 1,068 units from 2,036 last year, while pre-owned vehicle retail sales decreased to 598 units from 1,100. However, average gross profit per unit increased for both new and pre-owned vehicles.
During the quarter, Lazydays recorded $7.7 million in non-cash impairment charges related to indefinite-lived intangible assets and assets held for sale. The company noted that divestitures helped reduce total liabilities by over $200 million in the first half of 2025.
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