Digital and Consumer Experience Growth
Direct to consumer business experienced substantial year-over-year growth of 8%, driven by capturing market share through improved consumer experiences and digital capabilities.
Operational Improvements and Cost Reduction
Achieved significant operational improvements including debt reduction, a 22% year-over-year reduction in past dues, and cost savings of $7.8 million in 2024.
B2B and National Retailer Channel Success
Year-over-year growth in 17 brands across all channels, with a 12% growth in the national retailer channel and enhanced support covering 80% of B2B volume.
Margin and EBITDA Improvements
Gross margins improved by 690 basis points year-over-year to 45.6% in Q4, and EBITDA margins increased by 250 basis points to 20.8%.
Expansion into Mexico
Expanded into Mexico through direct to distributor relationships, opening new opportunities in the Mexican market.
Product Innovation and Launches
Launched several key products in Q4, including engine swaps and new safety portfolio offerings, contributing to a 75% increase in new product revenue per SKU.
Free Cash Flow and Debt Reduction
Generated $42 million in free cash flow for 2024 and prepaid $25 million on the term loan, leading to credit upgrades from Moody's and S&P.