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Lazydays Holdings, Inc. (GORV)
:GORV
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Lazydays Holdings (GORV) AI Stock Analysis

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GORV

Lazydays Holdings

(NASDAQ:GORV)

Rating:49Neutral
Price Target:
$7.00
▲(1.89%Upside)
Lazydays Holdings shows significant financial challenges, highlighted by poor financial metrics and a weak technical position. However, strategic improvements and positive corporate events provide some optimism. The company's efforts in reducing debt and enhancing operational efficiency are commendable but not yet sufficient to outweigh the existing financial distress.

Lazydays Holdings (GORV) vs. SPDR S&P 500 ETF (SPY)

Lazydays Holdings Business Overview & Revenue Model

Company DescriptionLazydays Holdings, Inc. (GORV) is a leading recreational vehicle (RV) dealership company in the United States. With a vast network of locations, Lazydays offers a comprehensive range of RVs, including new and pre-owned motorhomes, travel trailers, and other leisure vehicles. The company also provides related services such as financing, insurance, RV maintenance, and repair, as well as selling RV parts and accessories, positioning itself as a one-stop shop for RV enthusiasts.
How the Company Makes MoneyLazydays Holdings generates revenue through several key streams: the sale of new and pre-owned RVs, which constitutes the primary source of income. Additionally, the company earns significant revenue from its service centers, which offer maintenance and repair services for RVs. Lazydays also capitalizes on the sale of RV parts and accessories. Financial services, including financing and insurance solutions for RV purchases, further contribute to its earnings. Strategic partnerships with manufacturers and financial institutions bolster its offerings, enhancing its ability to provide comprehensive solutions to customers.

Lazydays Holdings Earnings Call Summary

Earnings Call Date:May 15, 2025
(Q1-2025)
|
% Change Since: 47.74%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call reflected a positive sentiment due to significant debt reduction, improved gross margins, and successful strategic divestitures, despite challenges in sales volumes and a reduction in net sales. The overall operational performance has shown improvement, with a focus on strengthening the balance sheet and enhancing profitability.
Q1-2025 Updates
Positive Updates
Debt Reduction and Financial Deleveraging
Lazydays reduced debt by $145 million, including $95 million in floor plan debt, $47 million in mortgage debt, and $2.5 million on the revolving line of credit, significantly deleveraging the business.
Improved Gross Profit Margins
Gross profit margins were up across all product lines, with new vehicle margins improving by 7% to 11% and used vehicle margins improving by 10% to 21% compared to the prior year period.
SG&A Expenses Reduction
SG&A expenses improved to $39 million for the quarter from $49 million in the prior year period, driven by reduced overhead personnel and marketing expenses due to operating seven fewer stores.
Increase in Gross Profit
Gross profit for the quarter was $44 million, an increase of $6 million compared to the prior year period, despite a decrease in net sales.
Successful Store Divestitures
The sale of five dealerships to Camping World and entering into a letter of intent to divest three additional stores helped streamline operations and reduce geographical redundancies.
Sequential Improvement in Unit Sales
Sequential month-over-month improvement in unit sales was noted, with new unit sales up 18% and used unit sales up 19% compared to the fourth quarter of 2024.
Negative Updates
Decrease in New and Pre-owned Retail Unit Sales
New unit sales were down 36%, and pre-owned retail unit sales were down 48%, driven by divestitures and prior decisions to discount sales prices.
Net Sales Decline
Net sales for the quarter were $166 million, a decrease of $104 million or 39% compared to the prior year period, due to a deliberate reduction of inventory and lower store count.
Adjusted EBITDA Loss
The company reported an adjusted EBITDA loss of $4 million for the quarter, which is an improvement but still reflects operational challenges.
Impact of Non-Cash Impairment Charges
There was a loss from operations of $2.3 million for the quarter, including non-cash impairment charges of $2.9 million related to indefinite-lived and tangible assets.
Company Guidance
During the Lazydays RV Holdings First Quarter 2025 Conference Call, the company outlined significant progress in its strategic initiatives, particularly in optimizing its dealership footprint and enhancing operational performance. They completed the sale of five dealerships to Camping World, reducing debt by approximately $145 million and cutting SG&A expenses by $10 million compared to the previous year. A letter of intent was also signed with General RV Center to divest three additional stores. Operationally, there was a marked improvement with gross profit per unit sold increasing by 39% and total gross profit margin rising to 26% from 19% in the previous quarter. Despite a 36% decrease in new unit sales due to divestitures, the average selling price for new units improved by 15%, and unit sales for used vehicles increased by 19% compared to the previous quarter. The company achieved a gross profit of $44 million, up $6 million year-over-year, while reducing SG&A expenses to $39 million. This strategic restructuring led to a significant reduction in the adjusted EBITDA loss to $4 million from $18 million in the prior year.

Lazydays Holdings Financial Statement Overview

Summary
The company's financial performance is concerning, with declining revenue and significant losses reflected in a negative net profit margin of -21.85%. The high leverage risk is evident from a debt-to-equity ratio of 2.79, and the capital structure is weakening. Although operating cash flow is positive, overall financial health remains weak due to volatility in free cash flow and negative growth.
Income Statement
32
Negative
The income statement shows a concerning trend with declining revenue and profitability. The TTM (Trailing-Twelve-Months) data reveals a negative net profit margin of -21.85%, indicating significant losses. Gross profit margin is also on a downward trend, suggesting reduced operational efficiency. The company's EBIT and EBITDA margins have turned negative, reflecting operational challenges and declining earnings quality.
Balance Sheet
38
Negative
The balance sheet highlights a high debt-to-equity ratio, indicating significant leverage risk. With a debt-to-equity ratio of approximately 2.79 in the latest period, the company is highly leveraged. The equity ratio has decreased over time, showing a weakening capital structure. Return on equity has turned negative, consistent with the negative net income, suggesting a poor return on shareholder investment.
Cash Flow
45
Neutral
The cash flow statement shows some resilience, with positive operating cash flow in the TTM period. However, free cash flow has experienced volatility, and its growth rate has been negative over the past years. The operating cash flow to net income ratio is positive, indicating the company can generate cash despite net losses, but free cash flow coverage to net income is weak.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue871.56M1.08B1.33B1.24B817.11M
Gross Profit160.85M210.23M328.69M310.37M167.72M
EBITDA-95.77M-87.33M118.93M133.25M47.93M
Net Income-179.96M-110.27M45.42M55.27M14.63M
Balance Sheet
Total Assets675.83M937.74M850.61M719.23M463.74M
Cash, Cash Equivalents and Short-Term Investments24.70M58.09M61.69M98.12M63.51M
Total Debt494.28M680.25M482.35M402.84M288.30M
Total Liabilities602.48M724.55M613.60M513.10M378.22M
Stockholders Equity73.35M213.19M237.01M206.13M85.52M
Cash Flow
Free Cash Flow75.33M-131.72M-111.84M-18.49M92.43M
Operating Cash Flow94.35M-36.48M-71.96M2.77M111.07M
Investing Cash Flow-8.13M-192.96M-54.54M-84.13M-30.32M
Financing Cash Flow-119.61M225.84M90.07M115.96M-48.69M

Lazydays Holdings Technical Analysis

Technical Analysis Sentiment
Negative
Last Price6.87
Price Trends
50DMA
7.07
Negative
100DMA
9.28
Negative
200DMA
18.92
Negative
Market Momentum
MACD
-0.10
Positive
RSI
47.78
Neutral
STOCH
51.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GORV, the sentiment is Negative. The current price of 6.87 is below the 20-day moving average (MA) of 7.06, below the 50-day MA of 7.07, and below the 200-day MA of 18.92, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 47.78 is Neutral, neither overbought nor oversold. The STOCH value of 51.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GORV.

Lazydays Holdings Risk Analysis

Lazydays Holdings disclosed 39 risk factors in its most recent earnings report. Lazydays Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Lazydays Holdings Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
$825.07M19.529.35%2.24%-57.33%
67
Neutral
$462.25M26.693.45%-2.26%
63
Neutral
$17.10B10.79-8.01%2.94%1.62%-25.73%
58
Neutral
$1.95B-13.97%2.78%0.75%-412.53%
49
Neutral
$25.26M-154.00%-26.46%26.16%
48
Neutral
$96.16M-130.43%-14.45%78.09%
45
Neutral
$944.26M260.24%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GORV
Lazydays Holdings
6.87
-90.03
-92.91%
CRMT
America's Car-Mart
51.96
-16.61
-24.22%
CWH
Camping World Holdings
17.98
-3.93
-17.94%
CARS
Cars
13.12
-6.72
-33.87%
RMBL
RumbleON
2.42
-1.87
-43.59%
UXIN
Uxin
4.45
2.67
150.00%

Lazydays Holdings Corporate Events

Delistings and Listing ChangesStock Split
Lazydays Holdings Implements Reverse Stock Split
Neutral
Jul 11, 2025

On July 10, 2025, Lazydays Holdings, Inc. filed a Certificate of Amendment to effect a 1-for-30 reverse stock split of its common stock, which became effective on July 11, 2025. This move aims to increase the per share market price to meet Nasdaq’s minimum bid price requirement, ensuring continued listing on The Nasdaq Capital Market. The reverse stock split will not affect stockholders’ percentage ownership, except for minor changes due to rounding up fractional shares. Trading on a reverse split-adjusted basis is expected to begin on July 14, 2025.

The most recent analyst rating on (GORV) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Lazydays Holdings Appoints Ron Fleming as CEO
Positive
Jul 11, 2025

On July 9, 2025, Lazydays Holdings, Inc. announced the appointment of Ron Fleming as the permanent Chief Executive Officer, following his tenure as Interim CEO since September 2024. Fleming, with over 40 years of experience in the RV industry, has been instrumental in implementing an operational turnaround plan to stabilize and position the company for future growth. Additionally, on July 7, 2025, Alexandre Zyngier was appointed to the board of directors, bringing extensive experience from various companies, which is expected to strengthen the company’s governance and strategic direction.

The most recent analyst rating on (GORV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

Delistings and Listing ChangesStock Split
Lazydays Holdings Announces 1-for-30 Reverse Stock Split
Neutral
Jul 10, 2025

On July 10, 2025, Lazydays Holdings, Inc. announced a 1-for-30 reverse stock split of its common stock, effective July 11, 2025, to increase the stock’s market price and maintain its Nasdaq listing. The reverse split, approved by the board and stockholders, will consolidate every 30 shares into one, without altering stockholders’ percentage ownership, and aims to support the company’s long-term stability and compliance with Nasdaq’s minimum bid price requirement.

The most recent analyst rating on (GORV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

Executive/Board ChangesShareholder MeetingsStock Split
Lazydays Holdings Announces Director Election and Plan Amendments
Neutral
Jul 3, 2025

During its annual meeting on July 3, 2025, Lazydays Holdings, Inc. announced the election of Susan Scarola as a Class A director until 2028, ratified the appointment of RSM US LLP as its independent auditor for 2025, and approved executive compensation. Additionally, the company amended its 2018 Long-Term Incentive Plan to increase authorized shares by 12 million and approved a potential reverse stock split of its common stock, with ratios ranging from 1-for-2 to 1-for-30, subject to board discretion.

The most recent analyst rating on (GORV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

M&A TransactionsBusiness Operations and Strategy
Lazydays Holdings Sells Tulsa RV Dealership for $9.1M
Positive
Jun 24, 2025

On June 18, 2025, Lazydays Holdings, Inc. announced an agreement to sell its Tulsa, Oklahoma RV dealership and associated real estate to Ron Hoover RV & Marine for a total of approximately $9.1 million. This strategic move is expected to streamline Lazydays’ operations, enhance its financial position by bringing cash to its balance sheet, and allow the company to focus on its core dealerships. The transaction highlights Ron Hoover RV & Marine’s expansion into the Oklahoma market, building on its existing presence in Texas.

The most recent analyst rating on (GORV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

Private Placements and FinancingM&A TransactionsBusiness Operations and Strategy
Lazydays Holdings Enhances Liquidity with Credit Amendment
Positive
Jun 17, 2025

On June 12, 2025, Lazydays Holdings, Inc. entered into a Limited Waiver and Fourth Amendment to its credit agreement with M&T Bank, addressing defaults and enhancing liquidity. The amendment includes waivers for defaults related to missed payments and financial covenants, as well as requirements to sell certain properties and provide mortgages. Additionally, Lazydays announced liquidity-enhancing transactions, including divestitures of non-core dealerships, generating $14 million in liquidity and reducing non-floorplan debt by $15 million. These moves aim to strengthen Lazydays’ financial position and support its turnaround strategy.

The most recent analyst rating on (GORV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

M&A TransactionsBusiness Operations and Strategy
Lazydays Holdings Sells Las Vegas RV Dealership Assets
Neutral
May 23, 2025

On May 20, 2025, Lazydays Holdings, Inc. and its subsidiary entered into an Asset Purchase Agreement with Fun Town RV to sell the assets of its Las Vegas RV dealership for approximately $300,000, plus additional cash for inventory. This agreement includes customary conditions and allows for termination under specific circumstances. Concurrently, a Real Estate Purchase Agreement was signed for the sale of related real estate for $6.7 million, contingent on the asset sale’s completion. These transactions are part of Lazydays’ strategic moves to streamline operations and potentially improve financial positioning.

The most recent analyst rating on (GORV) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Lazydays Holdings Appoints New Chief Administrative Officer
Neutral
May 16, 2025

Lazydays Holdings, Inc. has appointed Kyle Richter as Chief Administrative Officer effective May 14, 2025. With over 20 years of experience in financial and operational consulting, Richter’s services are provided through an engagement agreement with Berkeley Research Group, LLC. On the same date, directors Jordan Gnat and Suzanne Tager resigned from the board, with no disagreements cited. The board does not plan to fill these vacancies immediately as part of its ongoing efforts to improve financial performance.

The most recent analyst rating on (GORV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

M&A TransactionsBusiness Operations and Strategy
Lazydays Holdings Sells Dealerships in $5.6M Agreement
Neutral
May 14, 2025

On May 9, 2025, Lazydays Holdings, Inc. entered into an Asset Purchase Agreement with General R.V. Center, Inc. to sell its RV sales and service dealerships in Fort Pierce, Florida, Longmont, Colorado, and Mesa, Arizona for approximately $5.6 million plus additional cash for inventory and other assets. This agreement includes a series of closings and may be terminated under certain conditions. Additionally, a Real Estate Purchase Agreement was signed for the Fort Pierce location for $21 million, contingent on the asset sale’s completion. The company also amended its credit agreement with M&T Bank, extending deadlines for certain financial obligations.

The most recent analyst rating on (GORV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Lazydays Holdings stock, see the GORV Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
Lazydays Holdings Secures Waivers to Facilitate Asset Sales
Neutral
May 6, 2025

On April 30, 2025, Lazydays Holdings, Inc. entered into a Limited Waiver and Consent with M&T Bank, temporarily waiving certain defaults under their credit agreement to facilitate asset sales in several locations. Concurrently, the company secured a Temporary Waiver of Defaults with Coliseum Holdings, adjusting payment schedules and allowing asset sales under specific conditions, impacting the company’s financial operations and liquidity management.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 25, 2025