Core Viewpoint - Lazydays Holdings, Inc. has announced a series of transformative transactions aimed at strengthening its financial foundation, reducing debt, and enhancing profitability potential [1][3]. Transaction Highlights - The company plans to sell seven dealerships and issue common stock to Camping World for a total of $65.5 million, along with an additional dealership sale for $8 million [2][4]. - A $30 million common equity PIPE was closed at $1.03 per share, resulting in the issuance of 29.1 million new shares [2][5]. - A $25 million rights offering is planned at the same price per share as the PIPE, allowing existing stockholders to participate [2][6]. - All outstanding convertible preferred stock will be exchanged for common stock at $1.03 per share, eliminating a $68 million liquidation preference and a $9 million annual dividend requirement [2][7]. - The transactions will lead to a $65 million reduction in debt and a $16 million reduction in interest and preferred dividend payments [2][8]. Financial Position Post-Transactions - Following the transactions, Lazydays is expected to have $35 million in cash, $61 million in debt (excluding floor plan financings), and 119.5 million shares of common stock outstanding [2][8]. - The company has amended its credit facility with M&T Bank, providing significant financial flexibility through the first quarter of 2026 [2][8]. Leadership Commentary - The Chairman of Lazydays expressed confidence in the company's revitalization and the support received from investors and partners [3]. - The Interim CEO highlighted the challenging economic environment faced in recent years and the positive outlook for the company's future [3]. - The Chairman and CEO of Camping World emphasized the importance of Lazydays' health to the RV industry and its partners [3].

Company Overview - Lazydays has been a significant player in the RV industry since 1976, known for exceptional RV sales, service, and ownership experiences [2] - The company has built strong relationships with RVers and their families, who depend on Lazydays for their RV needs [2] Leadership Changes - Amber Dillard has been promoted to a new and expanded role, continuing her work with OEM partners and dealership General Managers to enhance operational performance [1] - Dillard has been with Lazydays since 2011, holding various positions across the organization, including accounting, supply chain, vehicle purchasing, inventory management, and dealership operations [1] - Dillard is also a board member of the Lazydays Employee Foundation, which supports at-risk children in the communities served by the company [1] Product and Service Offerings - Lazydays offers a wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and a comprehensive range of accessories and parts [3] - The company aims to be the go-to destination for RV enthusiasts, providing outstanding support and guidance for both seasoned RVers and newcomers [3] Stock Information - Lazydays is publicly listed on the Nasdaq stock exchange under the ticker "GORV" [4]

Financial Performance - Total revenue for Q2 2024 was $238.7 million, a decrease of 22.6% compared to $308.4 million in Q2 2023[3]. - Net loss for Q2 2024 was $44.2 million, compared to a net income of $3.6 million in Q2 2023, resulting in a net loss per diluted share of $3.22[4]. - Total gross profit for Q2 2024 was $47.4 million, down 30.0% from $67.7 million in Q2 2023[15]. - Total revenues for the six months ended June 30, 2024, decreased by 15.7% to $509,280,000 compared to $604,036,000 in 2023[16]. - The company reported a net loss of $66,201,000 for the six months ended June 30, 2024, compared to a net income of $3,284,000 in 2023[16]. - Total revenues for Q2 2024 decreased by 31.7% to $199.3 million compared to $291.9 million in Q2 2023[21]. - Net loss as a percentage of revenue was (7.7)% in Q2 2024, compared to 1.3% in Q2 2023[19]. - Diluted loss per share for the six months ended June 30, 2024, was $4.89, compared to a diluted loss per share of $3.51 for the same period in 2023[29]. - Net income attributable to common stock and participating securities is $904 thousand, with a comprehensive income of $2,742 thousand[30]. - Diluted income per share stands at $0.13, calculated using 13,188,135 shares[30]. Revenue Breakdown - New vehicle retail revenue decreased by 21.6% to $143.3 million, while pre-owned vehicle retail revenue fell by 33.1% to $60.9 million[15]. - New vehicle retail revenue declined by 17.7% to $296,024,000, while pre-owned vehicle retail revenue fell by 20.1% to $140,484,000[16]. - New vehicle retail revenue fell by 30.3% to $120.0 million in Q2 2024 from $172.2 million in Q2 2023[21]. - Pre-owned vehicle retail revenue decreased by 42.4% to $50.0 million in Q2 2024 compared to $86.9 million in Q2 2023[21]. - Same-store finance and insurance (F&I) revenue was over $5,300 per unit, an increase of 6.9%, despite average selling prices being approximately 17% lower[1]. Cost and Expenses - The company anticipates annual cost savings of approximately $25 million due to recent cost reduction actions[2]. - Selling, general, and administrative expenses decreased by 4.0% to $99,852,000[16]. - SG&A as a percentage of revenue increased to 20.9% in Q2 2024 from 16.2% in Q2 2023[19]. - Total gross profit margin dropping to 16.7% from 21.8% in the previous year[18]. - The average gross profit per retail unit for new vehicles (excluding LIFO) fell by 62.5% to $4,569[18]. Inventory and Assets - As of now, 26% of the new inventory consists of model year 2025 units, and 69% are model year 2024 units[2]. - Total current assets decreased from $546,896 thousand as of December 31, 2023, to $396,792 thousand as of June 30, 2024, a decline of approximately 27.4%[23]. - Inventory levels decreased from $456,087 thousand as of December 31, 2023, to $314,382 thousand as of June 30, 2024, a decline of approximately 31.0%[23]. - Total assets decreased from $937,739 thousand as of December 31, 2023, to $772,368 thousand as of June 30, 2024, a decline of approximately 17.6%[23]. - The company’s stockholders' equity decreased from $156,997 thousand as of December 31, 2023, to $87,998 thousand as of June 30, 2024, a drop of approximately 43.9%[23]. Debt and Financing - Future maturities of long-term debt total $73,869 thousand, with the majority due in 2026 at $45,326 thousand[24]. - Lazydays received a nonbinding commitment for an additional $5 million in capital from Coliseum Capital Management, which will increase the mortgage loan facility established in December 2023[7]. - The company is not currently considering significant store divestitures or business combinations[3]. Operational Metrics - Retail units sold for new vehicles increased by 2.9% to 2,036, while pre-owned vehicle sales decreased by 17.2% to 1,149[17]. - Total retail units sold in Q2 2024 decreased by 21.6% to 2,457 units compared to 3,134 units in Q2 2023[21]. - The company experienced a significant increase in floor plan interest expense by 17.8% to $13,384,000[16]. - The average selling price for new vehicles decreased by 23.7% to $70,458, while pre-owned vehicles saw a 19.1% drop to $53,009[17]. - Average selling price for new vehicles decreased by 17.6% to $77,147 in Q2 2024 from $93,580 in Q2 2023[21]. Impairments and Other Charges - The company experienced an impairment charge of $(1,387) thousand, impacting overall income[30]. - The company reported a significant increase in bad debt expense, rising to $76 thousand for the six months ended June 30, 2024, compared to $9 thousand in 2023[26].

Financial Performance - Total revenues for Q2 2024 were $238.694 million, a decrease of 22.6% compared to $308.380 million in Q2 2023[7] - New vehicle retail sales amounted to $143.333 million, down 21.6% from $182.752 million in the same quarter last year[7] - Pre-owned vehicle retail sales decreased by 32.9% to $60.908 million from $90.991 million year-over-year[7] - Gross profit for Q2 2024 was $47.404 million, a decline of 30% compared to $67.723 million in Q2 2023[7] - The company reported a net loss of $44.221 million for Q2 2024, compared to a net income of $3.560 million in Q2 2023[7] - Basic loss per share for Q2 2024 was $(3.22), compared to earnings of $0.12 per share in Q2 2023[7] - Total revenues for the six months ended June 30, 2024, were $509,280, a decrease of $94,756 or 15.7% compared to $604,036 in 2023[86] - New vehicle retail revenues decreased by $63,475 or 17.7% to $296,024 from $359,499 year-over-year[86] - Pre-owned vehicle retail revenues fell by $35,282 or 20.1% to $140,484 compared to $175,766 in the previous year[86] - Total gross profit for the six months was $85,170, down $46,444 or 35.3% from $131,614 in 2023[86] Assets and Liabilities - Total assets decreased to $772.368 million as of June 30, 2024, down from $937.739 million at the end of 2023[5] - Total liabilities were $624.162 million, a reduction from $724.549 million at the end of 2023[5] - Cash reserves decreased to $42.022 million from $58.085 million at the end of 2023[5] - The company’s retained earnings showed a significant decline, reaching $(20.048) million compared to $48.137 million at the end of 2023[5] - As of June 30, 2024, total stockholders' equity was $87,998, a decrease from $133,542 as of March 31, 2024, reflecting a net loss of $44,221 for the quarter[8] Cash Flow and Operating Activities - Net cash provided by operating activities for the six months ended June 30, 2024, was $101,315, significantly higher than $10,705 for the same period in 2023[14] - Cash paid for interest during the six months ended June 30, 2024, was $17,700, compared to $2,672 in the same period of 2023[15] - Total adjustments to reconcile net loss to net cash provided by operating activities were $167,516 for the six months ended June 30, 2024[14] - The company reported a net decrease in cash of $16,063 for the six months ended June 30, 2024, compared to a decrease of $37,514 in the same period of 2023[14] Inventory and Sales Performance - Total inventories decreased from $480.7 million as of December 31, 2023, to $314.4 million as of June 30, 2024[31] - Retail units sold for new vehicles increased by 132 units or 3.3% to 4,091, while pre-owned vehicle retail units sold decreased by 76 units or 2.8% to 2,616[86] - The average selling price for new vehicles fell by $18,417 or 20.3% to $72,389 from $90,806[86] - The company achieved a pre-owned to new ratio of 0.6:1 in the quarter ended June 30, 2024, with a strategic goal to reach a 1:1 ratio[97] Debt and Financing - As of June 30, 2024, there was $331 million outstanding on the Floor Plan Line of Credit at an interest rate of 7.9%[39] - The company entered into a Limited Waiver with lenders under the M&T Credit Agreement, temporarily waiving certain covenants[39] - Future maturities of long-term debt total $73,869 thousand, with $5,578 thousand due in the remainder of 2024[49] - The company entered into a $50 million term loan on December 29, 2023, with an interest rate of 12% per annum, secured by certain assets[45] Operational Challenges - The company experienced a decline in operating performance due to a slowdown in the recreational vehicle industry and consumer uncertainty, leading to non-compliance with certain financial covenants[22] - The company implemented cost reductions with estimated annual savings of $30 million to address recent industry challenges[23] - The company is uncertain about the timing of industry recovery and anticipates unit sales may remain below long-term averages[22] Stock and Compensation - Stock-based compensation for the six months ended June 30, 2024, was $1,104, down from $1,639 in the same period of 2023[14] - The company issued 211,926 restricted stock units with a weighted-average grant date fair value of $4.31 during the six months ended June 30, 2024[72] - The company recognized stock-based compensation related to the Employee Stock Purchase Plan (ESPP) of $112,855 for the six months ended June 30, 2024[69] Market and Future Outlook - The company anticipates that future retail demand for RVs will exceed historical pre-pandemic levels due to ongoing consumer interest in the RV lifestyle[139] - The revised forecast for 2024 RV wholesale shipments is projected to range between 329,900 to 359,100 units, with a median of 344,000 units[138]

Core Viewpoint - Lazydays Holdings, Inc. reported disappointing first-quarter 2024 results, with earnings and revenues missing estimates for the third consecutive quarter, leading to a 3.8% decline in share price after the announcement [1][2]. Earnings & Revenues - The company reported an adjusted loss per share of $1.63, significantly wider than the Zacks Consensus Estimate of a loss of $0.43, compared to break-even earnings in the same quarter last year [3]. - Total revenues were $270.6 million, falling short of the Zacks Consensus Estimate of $285 million, and representing an 8.5% year-over-year decline [3]. Results of Operations - New vehicle retail sales decreased by 13.6% year over year to $152.7 million, while pre-owned vehicle retail and service, body, and parts revenues declined by 6.1% and 11.6% year over year to $79.6 million and $13.7 million, respectively [4]. - The company's gross margin contracted by 760 basis points to 14%, with new vehicle retail and pre-owned vehicle retail gross margins declining by 950 and 850 basis points to 3.7% and 11.8%, respectively [4]. Balance Sheet - As of March 31, 2024, the company had cash totaling $39.4 million, down from $58.1 million at the end of fiscal 2023. Long-term debt was slightly reduced to $27.8 million from $28.1 million at the end of fiscal 2023 [5].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-38424 Lazydays Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) ...

Adjusted results for the first quarter of 2024 exclude a net non-core charge of $0.04 per diluted share related to our LIFO adjustment, transaction costs, and severance and transition costs. Adjusted results for the first quarter of 2023 exclude a net non-core charge of $0.17 per diluted share related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment, an impairment charge, acquisition expenses and severance and transition costs. Exhibit 99.1 LAZYDAYS REPORTS FIRST QUARTER 2 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________ Commission file number: 001-38424 Lazydays Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 8 ...

Financial Performance - Fourth quarter 2023 revenue decreased to $198.0 million, down from $243.5 million in the same quarter of 2022, representing a decline of approximately 18.7%[2] - Fourth quarter 2023 net loss was $108.0 million, compared to a net loss of $1.4 million for the same period in 2022, indicating a significant increase in losses[3] - Adjusted net loss for 2023 was $11.5 million, compared to adjusted net income of $64.1 million in 2022, reflecting a substantial decline in profitability[5] - Net loss for the year ended December 31, 2023, was $110,266,000 compared to a net income of $66,393,000 in 2022[23] - The company reported a net loss of $110.266 million for the latest quarter, with a diluted net loss per share of $8.45[32] - The income tax benefit for the latest quarter was $30.462 million, contributing positively to the net income[32] Goodwill Impairment - The company recorded a non-cash goodwill impairment charge of $118.0 million in the fourth quarter of 2023 due to a decline in the price of common equity[2] - The company reported a goodwill impairment of $117,970,000 in Q4 2023, which significantly impacted the income from operations[23] - The company experienced a significant goodwill impairment charge of $117.970 million in Q4 2023[31] - The company experienced a goodwill impairment charge of $117.970 million during the latest quarter[32] Revenue and Sales - Total revenue for Q4 2023 was $198,029,000, a decrease of 18.7% compared to $243,490,000 in Q4 2022[23] - New vehicle retail revenue decreased by 27.9% to $99,351,000 in Q4 2023 from $137,729,000 in Q4 2022[23] - Retail units sold for new vehicles decreased by 15.8% to 1,264 in Q4 2023 compared to 1,501 in Q4 2022[24] - Total revenue for Q4 2023 was $169.724 million, a decrease of 26.9% compared to $232.193 million in Q4 2022[28] - New vehicle retail revenue decreased by 34.7% to $84.837 million in Q4 2023 from $129.866 million in Q4 2022[28] - Retail units sold for new vehicles decreased by 26.0% to 1,033 units in Q4 2023 compared to 1,396 units in Q4 2022[28] Operational Changes and Future Outlook - The company anticipates a pre-tax loss in the first quarter of 2024 but expects to return to profitability thereafter, projecting positive net income and operational cash flow for the full year 2024[2] - The company launched a comprehensive rebranding effort in January 2024, including a new website and stock symbol change to "GORV," aimed at enhancing digital retailing and customer experience[10] - The company acquired Orangewood RV and RVzz during the fourth quarter, which are expected to add approximately $110.0 million in annual revenues at steady state[8] - The company opened a new dealership in Surprise, Arizona, expected to generate estimated annual revenues of $50.0 million at steady state, bringing the total to 25 locations nationwide[9] Financial Position - As of the end of the fourth quarter, the company had cash of $58.1 million and expects to generate an additional $47.5 million in mortgage loan proceeds through refinancing[12] - The company received a waiver of financial covenants for the fourth quarter of 2023 and the first two quarters of 2024, with relaxed covenants in the third quarter[13] - Total assets increased to $937.742 million as of December 31, 2023, from $830.718 million in 2022[29] - Current liabilities rose to $499.980 million in 2023, up from $399.625 million in 2022[29] Cost and Profitability Metrics - Gross profit margin for new vehicle retail dropped to 12.8% in Q4 2023 from 16.4% in Q4 2022, a decline of 360 basis points[24] - Gross profit margin for total revenue was 21.3% in Q4 2023, down from 22.9% in Q4 2022, representing a decline of 170 basis points[28] - Total cost applicable to revenue for the year ended December 31, 2023, was $854,005,000, down 14.5% from $998,270,000 in 2022[23] - Selling, general and administrative expenses amounted to $222.218 million, reflecting a reduction of $0.286 million[32] - The adjusted income from operations for the twelve months was $103.284 million, indicating a strong operational performance[32]

Financial Performance - Total revenue for Q3 2023 was $280.7 million, a decrease of 16% compared to $333.8 million in Q3 2022[12] - Net loss for Q3 2023 was $5.6 million, compared to a net income of $7.7 million in Q3 2022, resulting in a diluted EPS of $(0.48) versus $0.35[12] - Gross profit for Q3 2023 was $54.4 million, down 28% from $75.6 million in Q3 2022[12] - Revenue for the three months ended September 30, 2023, was $280,563,000, a decrease of 20.7% compared to $353,578,000 for the same period in 2022[32] - Net loss for the three months ended September 30, 2023, was $(6,298,000), compared to net income of $8,677,000 for the same period in 2022[32] - Total revenues decreased by $65.8 million, or 21.2%, in Q3 2023 compared to Q3 2022, and by $235.1 million, or 22.9%, in the first nine months of 2023 compared to the same period in 2022[103] Assets and Liabilities - Total assets increased to $915.5 million as of September 30, 2023, up from $830.7 million at the end of 2022, reflecting a growth of 10.2%[9] - Current liabilities decreased slightly to $390.3 million from $399.6 million at the end of 2022, a reduction of 0.8%[9] - Cash and cash equivalents decreased to $32.9 million from $61.7 million at the end of 2022, a decline of 46.5%[9] - The total stockholders' equity increased to $265.8 million as of September 30, 2023, compared to $237.0 million at the end of 2022, an increase of 12.1%[9] Acquisitions and Growth - Total consideration for acquisitions in 2023 amounted to $72,064,000, with net assets acquired valued at the same amount[28] - Revenue from the 2023 acquisitions for the three months ended September 30, 2023, was $10,164,000, contributing $17,912,000 for the nine months[28] - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[12] Cash Flow and Financing - Cash provided by operating activities for the nine months ended September 30, 2023, was $40,434,000, a significant increase from a cash used of $7,508,000 in the prior year[16] - Cash paid for interest during the nine months ended September 30, 2023, was $7,402,000, compared to $10,481,000 in the previous year[17] - The ending cash balance as of September 30, 2023, was $32,922,000, down from $100,774,000 at the same time in 2022[16] - As of September 30, 2023, total estimated liquidity was $67.8 million, including cash of $32.9 million and $30.2 million available from undrawn floor plan capacity[138] Inventory and Sales - Total inventories as of September 30, 2023, amounted to $385,329,000, an increase from $378,881,000 as of December 31, 2022[34] - New vehicle retail sales dropped to $172.9 million, down 15.0% from $203.5 million year-over-year[98] - Pre-owned vehicle retail sales decreased by 17.3% to $75.1 million from $90.7 million in the same quarter last year[98] - Retail units sold in Q3 2023 totaled 3,208, a decrease of 13.6% from 3,712 units sold in Q3 2022[98] Expenses and Losses - The company incurred impairment charges of $629,000 during the nine months ended September 30, 2023[16] - The company reported stock-based compensation of $2,067,000 for the nine months ended September 30, 2023, slightly down from $2,083,000 in 2022[16] - SG&A expenses decreased by $7.3 million, or 13.1%, in Q3 2023, and $20.9 million, or 12.1%, in the first nine months of 2023 compared to the same periods in 2022[126] Stock and Shareholder Information - The company reported a total of 17,440,259 common shares outstanding as of September 30, 2023, an increase from 14,515,253 shares at the end of 2022[13] - The company declared dividend payments on the Preferred Stock of approximately $1.2 million for each quarter in the nine-month period ended September 30, 2023[69] Compliance and Reporting - Lazydays Holdings, Inc. filed its Quarterly Report on Form 10-Q for the period ended September 30, 2023[101] - The report includes condensed consolidated financial statements, including balance sheets and statements of operations[101] - The report is signed by Kelly A. Porter, Chief Financial Officer, affirming the accuracy of the financial data[176] - The company is subject to the requirements of the Securities Exchange Act of 1934, ensuring compliance with regulatory standards[174]