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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):November 3, 2023
LAZYDAYS HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware001-3842482-4183498
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
4042 Park Oaks Blvd., Suite 350, Tampa, Florida
33610
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code
(813) 246-4999
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stockLAZY
Nasdaq Capital Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On November 3, 2023, Lazydays Holdings, Inc. issued a press release announcing its financial results for the third quarter ended September 30, 2023. A copy of the press release is furnished as Exhibit 99.1.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of the Lazydays Holdings, Inc. under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Exhibit No.Description
99.1
104Cover Page Interactive Data File (formatted as inline XBRL).


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LAZYDAYS HOLDINGS, INC.
November 3, 2023By/s/ Kelly Porter
Date
Kelly Porter
Chief Financial Officer


Exhibit 99.1
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LAZYDAYS REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS
Tampa, FL (November 3, 2023) – Lazydays (NasdaqCM: LAZY) today reported financial results for the third quarter ended September 30, 2023.

Third quarter 2023 revenue decreased to $280.7 million from $333.8 million in the third quarter of 2022.
Third quarter 2023 net loss was $(5.6) million compared to net income of $7.7 million for the same period in 2022. Third quarter 2023 adjusted net loss, a non-GAAP measure, was $(2.9) million compared to net income of $14.4 million for the same period in 2022. Third quarter 2023 net loss per diluted share was $(0.48) compared to net income per diluted share of $0.35 for the same period in 2022. Adjusted third quarter 2023 net loss per diluted share was $(0.29) compared to net income per diluted share of $0.54 for the same period in 2022.

As shown in the attached non-GAAP reconciliation tables, the third quarter of 2023 adjusted results exclude a net non-core charge of $0.19 per diluted share related to our LIFO adjustment, acquisition expenses and severance and transition costs. The third quarter of 2022 adjusted results exclude a net non-core charge of $0.19 related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment and severance and transition costs.

Year to date net loss was $(2.3) million compared to net income of $67.8 million for the same period in 2022. Year to date 2023 adjusted net income was $2.2 million compared to net income of $66.1 million for the same period in 2022. Year to date 2023 net loss per diluted share was $(0.49) compared to net income per diluted share of $2.39 for the same period in 2022, and adjusted net loss per diluted share was $(0.07) compared to adjusted net income per diluted share of $2.74 for the same period in 2022.

The adjusted year to date results for the nine months of 2023 exclude a net non-core charge of $0.42 related to the effects of changes in the fair value of warrant liabilities, our LIFO adjustment, acquisition expenses, severance and transition costs, an impairment charge and a storm reserve. The adjusted year to date results for the same period in 2022 exclude a net non-core charge of $0.35 related to the effects of changes in the fair value of warrant liabilities, our LIFO adjustment, acquisition expenses and severance and transition costs.
Corporate Development
As previously announced, during the quarter we acquired Buddy Gregg Motorhomes in Knoxville, Tennessee as well as Century RV in Longmont, Colorado. We also opened our Wilmington, Ohio greenfield location. We estimate these stores will add $125 million in revenues at steady state.

In July we closed our Maryville, Tennessee location due to the expansion of the Alcoa Highway by the Tennessee DOT. In September we closed our Burns Harbor, Indiana location, consolidating operations into our nearby Elkhart, Indiana location.

Earlier this week we announced the opening of our Fort Pierce, Florida greenfield and we remain on track to open our Surprise, Arizona greenfield location in the fourth quarter.
Balance Sheet Update
We ended the third quarter with total estimated liquidity of $67.8 million including cash of $32.9 million, $4.6 million of availability on our revolving credit facility and $30.2 million in available from undrawn floor plan capacity and our floor plan offset account. Additionally, we hold approximately $95.5 million of unfinanced real estate that we estimate could provide $80.6 million of additional liquidity.


On September 12, 2023, we filed a registration statement on Form S-1, as amended, with the Securities and Exchange Commission for a rights offering. The Rights Offering was made effective by the SEC October 23, 2023 and the subscription period will expire on November 14, 2023. Assuming the rights offering is fully subscribed, we estimate the total purchase price of the shares offered in the rights offering, representing the aggregate net proceeds received by us, will be approximately $99.6 million. We expect the net proceeds of the offering will be used for our growth initiatives including acquisitions and new business development activities and general corporate purposes, which may include repaying or refinancing some or all of our existing or future debt facilities.

Conference Call Information
We have scheduled a conference call at 8:30 AM Eastern Time on Friday, November 3, 2023 that will also be broadcast live over the internet.
The conference call may be accessed by telephone at (877) 407-8029 / +1 (201) 689-8029. To listen live on our website or for replay, visit https://www.lazydays.com/investor-relations.
About Lazydays
Lazydays has been a prominent player in the RV industry since our inception in 1976, earning a stellar reputation for delivering exceptional RV sales, service, and ownership experiences. Our commitment to excellence has led to enduring relationships with RVers and their families who rely on us for all of their RV needs.

With a strategic approach to rapid expansion, we are growing our network through both acquisitions and new builds. Our wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and an extensive range of accessories and parts ensure that Lazydays is the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road. Whether you're a seasoned RVer or just starting your adventure, our dedicated team is here to provide outstanding support and guidance, making your RV lifestyle truly extraordinary.

Lazydays is a publicly listed company on the Nasdaq stock exchange under the ticker "LAZY".
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as “project,” “outlook,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “may,” “seek,” “would,” “should,” “likely,” “goal,” “strategy,” “future,” “maintain,” “continue,” “remain,” “target” or “will” and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements regarding:
•Anticipated revenues from acquired and open point stores; and
•Anticipated availability of liquidity from our credit facility and unfinanced operating real estate.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events that depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this press release. The risks and uncertainties that could cause actual results to differ materially from estimated or projected results include, without limitation, future economic and financial conditions (both nationally and locally), changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks associated with our indebtedness (including available borrowing capacity, compliance with financial covenants and ability to refinance or repay indebtedness on favorable terms), acts of God or other incidents which may adversely impact our operations and financial performance, government regulations, legislation and others set forth throughout “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in “Part I, Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K, and from time to time in our other filings with the SEC. We urge you to carefully consider this information and not place undue reliance on forward-looking statements. We undertake no duty to update our forward-looking statements, including our earnings outlook, which are made as of the date of this release.


Non-GAAP Financial Measures
This presentation contains non-GAAP financial measures such as adjusted net income, adjusted diluted earnings per share, adjusted cost of goods sold, adjusted income before taxes, adjusted income tax benefit, adjusted SG&A, adjusted SG&A as a percentage of revenue, adjusted SG&A as a percentage of gross profit, adjusted operating income as a percentage of revenue, adjusted operating income as a percentage of gross profit, adjusted pre-tax income as a percentage of revenue and adjusted net income as a percentage of revenue. Non-GAAP measures do not have definitions under GAAP and may be defined differently by and not comparable to similarly titled measures used by other companies. As a result, we review any non-GAAP financial measures in connection with a review of the most directly comparable measures calculated in accordance with GAAP. We caution you not to place undue reliance on such non-GAAP measures, but also to consider them with the most directly comparable GAAP measures. We present cash flows from operations in the following tables, adjusted to include the change in non-trade floor plan debt to improve the visibility of cash flows related to vehicle financing. As required by SEC rules, we have reconciled these measures to the most directly comparable GAAP measures in the attachments to this release. We believe the non-GAAP financial measures we present improve the transparency of our disclosures; provide a meaningful presentation of our results from core business operations, because they exclude items not related to core business operations and other non-cash items; and improve the period-to-period comparability of our results from core business operations. These presentations should not be considered an alternative to GAAP measures.
Contact:
investors@lazydays.com


Results of Operations
Three months ended September 30,Nine months ended September 30,
(In thousands except share and per share amounts)20232022% Change20232022% Change
Revenue
New vehicle retail$172,898 $203,456 (15.0)%$532,397 $640,078 (16.8)%
Pre-owned vehicle retail75,059 90,725 (17.3)%250,825 319,655 (21.5)%
Vehicle wholesale2,056 6,622 (69.0)%5,480 18,850 (70.9)%
Finance and insurance16,462 18,574 (11.4)%51,085 61,591 (17.1)%
Service, body and parts and other14,207 14,381 (1.2)%44,931 43,297 3.8 %
Total revenue280,682 333,758 (15.9)%884,718 1,083,471 (18.3)%
Cost applicable to revenues
New vehicle retail154,181 169,445 (9.0)%465,656 517,160 (10.0)%
Pre-owned vehicle retail59,693 70,469 (15.3)%199,646 242,379 (17.6)%
Vehicle wholesale2,026 6,813 (70.3)%5,432 19,226 (71.7)%
Finance and insurance569 676 (15.8)%2,072 2,216 (6.5)%
Service, body and parts and other7,109 6,887 3.2 %21,807 21,263 2.6 %
LIFO2,663 3,904 (31.8)%4,049 8,230 (50.8)%
Total cost applicable to revenue226,241 258,194 (12.4)%698,662 810,474 (13.8)%
Gross profit54,441 75,564 (28.0)%186,056 272,997 (31.8)%
Depreciation and amortization4,602 4,202 9.5 %13,464 12,338 9.1 %
Selling, general, and administrative expenses48,250 55,541 (13.1)%152,262 173,249 (12.1)%
Income from operations1,589 15,821 (90.0)%20,330 87,410 (76.7)%
Other income (expense)
Floor plan interest expense(6,258)(2,621)138.8 %(17,624)(5,063)248.1 %
Other interest expense(2,701)(1,982)36.3 %(6,484)(5,837)11.1 %
Change in fair value of warrant liabilities— (521)(100.0)%856 10,671 (92.0)%
Gain (loss) on sale of property and equipment(21)— NM(21)— NM
Total other (expense) income, net(8,980)(5,124)75.3 %(23,273)(229)NM
Income (loss) before income tax expense(7,391)10,697 (169.1)%(2,943)87,181 (103.4)%
Income tax benefit (expense)1,805 (3,032)(159.5)%642 (19,388)(103.3)%
Net income (loss)(5,586)7,665 (172.9)%(2,301)67,793 (103.4)%
Dividends on Series A convertible preferred stock(1,210)(1,210)— %(3,590)(3,590)— %
Net income (loss) and comprehensive income attributable to common stock and participating securities $(6,796)$6,455 (205.3)%$(5,891)$64,203 (109.2)%
EPS:
Basic$(0.48)$0.38 (226.3)%$(0.44)$3.57 (112.3)%
Diluted$(0.48)$0.35 (237.1)%$(0.49)$2.39 (120.5)%
Weighted average shares outstanding:
Basic14,263,36711,132,31728.1 %13,470,21911,930,64912.9 %
Diluted14,263,36711,883,98520.0 %13,470,21913,351,5910.9 %
NM - not Meaningful


Total Results Summary
Three months ended September 30,Nine months ended September 30,
20232022Change20232022Change
Gross profit margins
New vehicle retail10.8 %16.7 %(590)bps12.5 %19.2 %(670)bps
Pre-owned vehicle retail20.5 %22.3 %(180)bps20.4 %24.2 %(380)bps
Vehicle wholesale1.5 %(2.9)%440 bps0.9 %(2.0)%290 bps
Finance and insurance96.5 %96.4 %10 bps95.9 %96.4 %(50)bps
Service, body and parts and other50.0 %52.1 %(210)bps51.5 %50.9 %60 bps
Total gross profit margin19.4 %22.6 %(320)bps21.0 %25.2 %(420)bps
Total gross profit margin (excluding LIFO)20.3 %23.8 %(350)bps21.5 %26.0 %(450)bps
Retail units sold
New vehicle retail2,046 2,377 (331)6,005 7,102 (1,097)
Pre-owned vehicle retail1,162 1,335 (173)3,854 4,410 (556)
Total retail units sold3,208 3,712 (504)9,859 11,512 (1,653)
Average selling price per retail unit
New vehicle retail$84,505 $85,594 $(1,089)$88,659 $90,126 $(1,467)
Pre-owned vehicle retail64,595 67,959 (3,364)65,082 72,484 (7,402)
Average gross profit per retail unit (excluding LIFO)
New vehicle retail$9,148 $14,308 $(5,160)$11,114 $17,307 $(6,193)
Pre-owned vehicle retail13,224 15,174 (1,950)13,279 17,523 (4,244)
Finance and insurance4,954 4,822 132 4,972 5,158 (186)
Revenue mix
New vehicle retail61.6 %61.0 %60.2 %59.1 %
Pre-owned vehicle retail26.7 %27.2 %28.4 %29.5 %
Vehicle wholesale0.7 %2.0 %0.6 %1.7 %
Finance and insurance5.9 %5.6 %5.8 %5.7 %
Service, body and parts and other5.1 %4.3 %5.1 %4.0 %
100.0 %100.0 %100.0 %100.0 %
Gross profit mix
New vehicle retail34.4 %45.0 %35.9 %45.0 %
Pre-owned vehicle retail28.2 %26.8 %27.5 %28.3 %
Vehicle wholesale0.1 %(0.3)%— %(0.1)%
Finance and insurance29.2 %23.7 %26.3 %21.7 %
Service, body and parts and other13.0 %9.9 %12.4 %8.1 %
LIFO(4.9)%(5.2)%(2.2)%(3.0)%
100.0 %100.0 %100.0 %100.0 %


Other Metrics

AdjustedAs ReportedAdjustedAs Reported
Three months ended September 30,Three months ended September 30,Nine months ended September 30,Nine months ended September 30,
20232022202320222023202220232022
SG&A as a % of revenue16.7 %16.5 %17.2 %16.6 %16.8 %15.9 %17.2 %16.0 %
SG&A as % of gross profit, excluding LIFO82.1 %77.0 %84.5 %77.5 %78.3 %65.2 %80.1 %65.4 %
Income from operations as a % of revenue2.0 %6.0 %0.6 %4.7 %3.1 %8.9 %2.3 %8.1 %
Income from operations as a % of gross profit, excluding LIFO9.8 %28.1 %2.8 %22.1 %14.6 %36.4 %10.7 %33.0 %
Income (loss) before income taxes as % of revenue(1.2)%4.6 %(2.6)%3.2 %0.4 %7.9 %(0.3)%8.0 %
Net income (loss) as a % of revenue(1.0)%4.3 %(2.0)%2.3 %0.3 %6.1 %(0.3)%6.3 %

Other Highlights

As of
September 30, 2023December 31, 2022
Store Count
Dealerships2118
Days Supply*
New vehicle inventory171 250 
Pre-owned vehicle inventory13378
*Days supply calculated based on current inventory levels and a 90 day historical average cost of sales level.
Financial Covenants

As of
RequirementSeptember 30, 2023
Fixed charge coverage ratioNot less than 1.25 to 11.63
Leverage ratioNot more than 3.0 to 13.00
Current ratioNot less than 1.15 to 11.16




Same-Store Results Summary
Three months ended September 30,Nine months ended September 30,
(In thousands, except vehicle and per vehicle data)20232022Change20232022Change
Revenues
New vehicle retail$150,103 $187,323 (19.9)%$472,339 $601,706 (21.5)%
Pre-owned vehicle retail66,507 85,931 (22.6)%227,935 305,378 (25.4)%
Vehicle wholesale2,054 6,615 (68.9)%5,233 18,790 (72.2)%
Finance and insurance13,915 17,331 (19.7)%45,257 58,589 (22.8)%
Service, body and parts and other12,565 13,782 (8.8)%40,284 41,701 (3.4)%
Total revenues245,144 310,982 (21.2)%791,048 1,026,164 (22.9)%
Gross profit
New vehicle retail15,690 31,253 (49.8)%58,899 115,661 (49.1)%
Pre-owned vehicle retail13,279 19,086 (30.4)%46,109 73,684 (37.4)%
Vehicle wholesale31 (191)NM51 (373)NM
Finance and insurance13,437 16,702 (19.5)%43,400 56,462 (23.1)%
Service, body and parts and other6,537 7,023 (6.9)%20,651 21,050 (1.9)%
LIFO(2,663)(3,903)(31.8)%(4,049)(8,230)(50.8)%
Total gross profit46,311 69,970 (33.8)%165,061 258,254 (36.1)%
Gross profit margins
New vehicle retail10.5 %16.7 %(620)bps12.5 %19.2 %(670)bps
Pre-owned vehicle retail20.0 %22.2 %(220)bps20.2 %24.1 %(390)bps
Vehicle wholesale1.5 %(2.9)%440 bps1.0 %(2.0)%300 bps
Finance and insurance96.6 %96.4 %20 bps95.9 %96.4 %(50)bps
Service, body and parts and other52.0 %51.0 %100 bps51.3 %50.5 %80 bps
Total gross profit margin18.9 %22.5 %(360)bps20.9 %25.2 %(430)bps
Total gross profit margin (excluding LIFO)20.0 %23.8 %(380)bps21.4 %26.0 %(460)bps
Retail units sold
New vehicle retail1,683 2,121 (20.7)%5,109 6,471 (21.0)%
Pre-owned vehicle retail1,011 1,227 (17.6)%3,404 4,098 (16.9)%
Total retail units sold2,694 3,348 (19.5)%8,513 10,569 (19.5)%
Average selling price per retail unit
New vehicle retail$89,188 $88,318 1.0 %$92,452 $92,985 (0.6)%
Pre-owned vehicle retail$65,783 $70,033 (6.1)%$66,961 $74,519 (10.1)%
Average gross profit per retail unit (excluding LIFO)
New vehicle retail$9,323 $14,735 (36.7)%$11,528 $17,874 (35.5)%
Pre-owned vehicle retail$13,135 $15,555 (15.6)%$13,546 $17,981 (24.7)%
Finance and insurance$4,988 $4,989 — %$5,098 $5,342 (4.6)%
NM - not meaningful


Condensed Consolidated Balance Sheets

(In thousands)As of September 30, 2023As of December 31, 2022
Current assets
  Cash$32,922 $61,687 
  Receivables, net21,823 25,053 
  Inventories385,329 378,881 
  Other current assets12,421 11,228 
    Total current assets452,495 476,849 
Long-term assets
  Property and equipment, net247,752 158,991 
  Goodwill and intangible assets, net184,551 165,125 
  Other assets30,745 29,753 
    Total assets$915,543 $830,718 
Current liabilities
  Floor plan notes payable334,218 348,735 
  Other current liabilities56,092 50,890 
    Total current liabilities390,310 399,625 
Long-term liabilities
  Financing liability, non-current portion, net92,073 89,770 
  Revolving line of credit45,000 — 
  Long-term debt, non-current portion, net28,513 10,131 
  Other long-term liabilities38,824 39,197 
    Total liabilities594,720 538,723 
  Series A Convertible Preferred Stock54,983 54,983 
  Stockholders' Equity265,840 237,012 
    Total liabilities and stockholders' equity$915,543 $830,718 


Condensed Statements of Cash Flows
Nine months ended September 30,
(In thousands)20232022
Cash Flows From Operating Activities
Net income (loss)$(2,301)$67,793 
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock based compensation2,067 2,083 
Bad debt expense9 76 
Depreciation of property and equipment7,992 6,893 
Amortization of intangible assets5,501 5,445 
Amortization of debt discount327 248 
Non-cash lease expense201 131 
Loss (gain) on sale of property and equipment21 (18)
Deferred income taxes(116)— 
Change in fair value of warrant liabilities(856)(10,671)
Tax benefit related to stock-based awards— — 
Impairment charges629 — 
Changes in operating assets and liabilities (net of acquisitions):
Receivables3,221 5,884 
Inventories18,427 (68,046)
Prepaid expenses and other(1,196)(1,027)
Income tax receivable/payable(621)(4,584)
Other assets(169)(591)
Accounts payable5,511 (5,590)
Accrued expenses and other current liabilities1,787 (5,534)
Total Adjustments42,735 (75,301)
Net Cash Provided By (Used In) Operating Activities40,434 (7,508)
Nine months ended September 30,
(In thousands)20232022
Net Cash Provided By (Used In) Operating Activities
As reported$40,434 $(7,508)
Net (repayments) borrowings on floor plan notes payable(13,967)89,835 
Minus borrowings on floor plan notes payable associated with acquired new inventory(19,726)— 
Plus net increase to floor plan offset account— — 
Net cash provided by operating activities, as adjusted$6,741 $82,327 



Reconciliation of Non-GAAP Measures
Three months ended September 30, 2023
($ in thousands, except per share amounts)As reportedLIFOAcquisition expenseSeverance and transition costsAdjusted
Costs applicable to revenues$226,241 $(2,663)$— $— $223,578 
Selling, general and administrative expenses48,250 (727)(625)46,898 
Income from operations1,589 2,663 727 625 5,605 
Income (loss) before income tax expense$(7,391)$2,663 $727 $625 $(3,376)
Income tax benefit (expense)1,805 (873)(238)(205)489 
Net income (loss)$(5,586)$1,790 $489 $420 $(2,887)
Diluted net loss per share$(0.48)$(0.29)
Shares used for diluted calculation14,263,367
Three months ended September 30, 2022
($ in thousands, except per share amounts)As reportedGain on change in fair value of warrant liabilitiesLIFOAcquisition expenseSeverance and transition costsAdjusted
Costs applicable to revenues$258,194 $— $(3,904)$— $— $254,290 
Selling, general and administrative expenses55,541 — — — (377)55,164 
Income from operations15,821 — 3,904 — 377 20,102 
Gain on change in fair value of warrant liabilities(521)521 — — — — 
Income (loss) before income taxes$10,697 $521 $3,904 $— $377 15,499 
Income tax expense(3,032)— 1,758 50 92 (1,132)
Net income $7,665 $521 $5,662 $50 $469 $14,367 
Diluted earnings per share$0.35 $0.54 
Shares used for diluted calculation11,883,985


Nine months ended September 30, 2023
($ in thousands, except per share amounts)As reportedGain on change in fair value of warrant liabilitiesLIFOAcquisition expenseSeverance and transition costsImpairment chargeStorm ReserveAdjusted
Costs applicable to revenues$698,662 $— $(4,049)$— $— $— $— $694,613 
Selling, general and administrative expenses152,262 — — (1,198)(1,278)(629)(300)148,857 
Income from operations20,330 — 4,049 1,198 1,278 629 300 27,785 
Gain on change in fair value of warrant liabilities856 (856)— — — — — 
(Loss) income before income taxes$(2,943)$(856)$4,049 $1,198 $1,278 $629 $300 $3,656 
Income tax benefit (expense)642 — (1,140)(337)(360)(119)(106)(1,420)
Net (loss) income$(2,301)$(856)$2,909 $861 $918 $510 $194 $2,236 
Diluted net loss per share$(0.49)$(0.07)
Shares used for diluted calculation13,470,219
Nine months ended September 30, 2022
($ in thousands, except per share amounts)As reportedGain on change in fair value of warrant liabilitiesLIFOAcquisition expenseSeverance and transition costsAdjusted
Costs applicable to revenues$810,474 $— (8,230)$— $— $802,244 
Selling, general and administrative expenses173,249 — — (121)(600)172,528 
Income from operations87,410 — 8,230 121 600 96,361 
Gain on change in fair value of warrant liabilities10,671 (10,671)— — — — 
Income (loss) before income taxes$87,181 $(10,671)$8,230 $121 $600 $85,461 
Income tax expense(19,388)— — — — (19,388)
Net income $67,793 $(10,671)$8,230 $121 $600 $66,073 
Diluted earnings per share$2.39 $2.74 
Shares used for diluted calculation13,351,591
*In periods where the change in fair value of warrants is a gain, the diluted EPS calculation is not affected by this line item.
###
v3.23.3
Cover
Nov. 03, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 03, 2023
Entity Registrant Name LAZYDAYS HOLDINGS, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 001-38424
Entity Tax Identification Number 82-4183498
Entity Address, Address Line One 4042 Park Oaks Blvd.
Entity Address, Address Line Two Suite 350
Entity Address, City or Town Tampa
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33610
City Area Code 813
Local Phone Number 246-4999
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock
Trading Symbol LAZY
Entity Emerging Growth Company false
Entity Central Index Key 0001721741
Amendment Flag false
Security Exchange Name NASDAQ
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