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Lazydays Holdings, Inc.

GORV

Lazydays Holdings, Inc. • NASDAQ
$0.42 ▼ -45.31% (-0.35)
Market Cap $1.57 M
52w High $33.00
52w Low $0.41
Dividend Yield 0%
P/E 0
Volume 1.44M
Outstanding Shares 3.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $101.434M ▼ $98.813M ▲ $-82.381M ▼ -81.216% ▼ $-21.99 ▼ $-76.405M ▼
Q2-2025 $131.297M ▼ $46.902M ▲ $-24.589M ▼ -18.728% ▼ $-6.67 ▼ $-10.858M ▼
Q1-2025 $165.815M ▲ $46.111M ▼ $-9.533M ▲ -5.749% ▲ $-2.59 ▲ $6.136M ▲
Q4-2024 $148.817M ▼ $97.52M ▲ $-96.097M ▼ -64.574% ▼ $-164.1 ▼ $-79.802M ▼
Q3-2024 $213.465M $50.972M $-17.665M -8.275% $-41.1 $-950K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $9.501M ▼ $333.171M ▼ $359.473M ▼ $-26.302M ▼
Q2-2025 $24.702M ▲ $429.064M ▼ $373.115M ▼ $55.949M ▼
Q1-2025 $19.727M ▼ $509.508M ▼ $429.144M ▼ $80.364M ▼
Q4-2024 $24.702M ▲ $675.83M ▼ $586.23M ▼ $89.6M ▼
Q3-2024 $13.536M $735.946M $605.018M $130.928M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-82.381M ▼ $-23.388M ▼ $14.549M ▼ $-5.907M ▲ $-14.746M ▼ $-23.478M ▼
Q2-2025 $-24.589M ▼ $-18.674M ▼ $57.992M ▼ $-34.343M ▲ $4.975M ▲ $-18.712M ▼
Q1-2025 $-9.533M ▲ $26.032M ▲ $113.932M ▲ $-144.939M ▼ $-4.975M ▼ $26.017M ▲
Q4-2024 $-96.097M ▼ $-4.213M ▼ $8.316M ▲ $7.063M ▲ $11.166M ▲ $-3.84M ▲
Q3-2024 $-17.665M $-2.748M $-6.477M $-19.261M $-28.486M $-9.225M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Finance And Insurance
Finance And Insurance
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
New Vehicle Retail
New Vehicle Retail
 $250.00M ▲$100.00M ▼$80.00M ▼$60.00M ▼
Vehicle Wholesale
Vehicle Wholesale
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Over the last several years, Lazydays’ income statement shows a clear rise and then fall. Revenue climbed strongly into 2022 but then contracted, and profitability eroded. Gross profit shrank faster than sales, which means pricing power and margins weakened. The company moved from solid operating profits earlier in the period to meaningful operating and net losses in the most recent years, with very large losses as conditions worsened. This pattern is consistent with a business in a cyclical, big‑ticket consumer industry that was unable to adjust costs quickly enough when demand cooled and competitive pressure increased.

Balance Sheet

Balance Sheet The balance sheet became increasingly fragile over time. Debt was high relative to the size of the business, while equity remained quite thin, leaving only a small cushion to absorb shocks. Cash balances stayed low, giving the company limited flexibility when results deteriorated. As performance weakened, the capital structure left little room for error, and ultimately the sale of assets was needed to satisfy lenders. The end result is that creditors have been paid from asset sales, while shareholders are left with no residual value.

Cash Flow

Cash Flow Cash generation was inconsistent and never strong enough to comfortably support the company’s leverage and volatility. Operating cash flow swung between positive and negative, reflecting the ups and downs in profitability and working capital needs. Free cash flow was only modestly positive in the best year and negative in several others, even though investment spending was not especially heavy. This uneven cash profile, combined with significant debt obligations, made the business vulnerable once earnings turned down.

Competitive Edge

Competitive Edge Historically, Lazydays had a respectable competitive position within the RV dealership space: a recognized brand, a multi‑state footprint, and a one‑stop model that combined sales, parts, service, and collision repair. The focus on customer experience and service breadth gave it a differentiated offering versus smaller dealers and some online competitors. However, the RV market is highly cyclical and price‑sensitive, and larger rivals and online channels have been intensifying competition. As market conditions softened, Lazydays’ advantages were not strong enough to offset margin pressure, high fixed costs, and its leveraged balance sheet, which ultimately undermined its ability to continue as a going concern.

Innovation and R&D

Innovation and R&D The company did invest in technology and customer‑facing innovation, particularly in its final years. It developed online booking tools, an AI‑driven customer service chatbot, and a mobile app to manage maintenance and service, all aimed at improving convenience, driving digital sales, and modernizing operations. These were sensible, targeted initiatives for an RV dealer, and they reportedly boosted online engagement. However, the scale of these investments was relatively modest compared with the size of the financial challenges. They helped refine the customer experience but could not fully counteract the structural pressures from debt, cyclicality, and a weakening market.

Summary

Lazydays’ trajectory reflects a business that grew through a favorable cycle, then struggled to adapt when conditions turned. Revenues first expanded and then fell, margins compressed, and losses mounted. A highly leveraged balance sheet and thin equity left the company exposed, while cash flows were too uneven to provide a safety net. Despite real competitive strengths—brand recognition, a broad service offering, and some meaningful digital initiatives—the combination of a cyclical downturn and financial strain led to asset sales and dissolution. For stakeholders, the key themes are the risks of leverage in cyclical consumer markets and the limits of operational and digital improvements when capital structure and market conditions move decisively against a company.

NEWS

November 7, 2025 · 4:05 PM UTC

Lazydays Announces Plan to Delist from Nasdaq

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October 13, 2025 · 9:40 AM UTC

GORV Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Lazydays Holdings, Inc's Assets Is Fair to Shareholders

Read more