Traeger (COOK) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 08, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-40694
Entity Registrant Name	Traeger, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2739741
Entity Address, Address Line One	1215 E Wilmington Ave
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84106
City Area Code	801
Local Phone Number	701-7180
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	COOK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		118,236,891
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Central Index Key	0001857853
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 13,609	$ 16,740
Accounts receivable, net	111,763	92,927
Inventories	163,804	145,038
Prepaid expenses and other current assets	19,695	15,036
Total current assets	308,871	269,741
Property, plant, and equipment, net	69,807	55,477
Goodwill	185,562	297,047
Intangible assets, net	534,058	555,151
Other non-current assets	11,895	3,608
Total assets	1,110,193	1,181,024
Current Liabilities
Accounts payable	27,636	42,694
Accrued expenses	74,207	69,773
Line of credit	83,811	41,138
Current portion of capital leases		420
Current portion of capital leases	472
Current portion of contingent consideration	14,700	12,200
Other current liabilities	1,425	0
Total current liabilities	202,251	166,225
Notes payable	386,564	379,395
Capital leases, net of current portion		677
Capital leases, net of current portion	717
Contingent consideration, net of current portion	0	13,100
Deferred tax liability	11,683	11,673
Other non-current liabilities	443	434
Total liabilities	601,658	571,504
Commitments and contingencies—See Note 12
Stockholders' equity:
Preferred stock, $0.0001 par value; 25,000,000 shares authorized and no shares issued or outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock value	12	12
Additional paid-in capital	821,806	794,413
Accumulated deficit	(325,530)	(184,819)
Accumulated other comprehensive income (loss)	12,247	(86)
Total stockholders' equity	508,535	609,520
Total liabilities and stockholders' equity	$ 1,110,193	$ 1,181,024

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	1,000,000,000	1,000,000,000
Common stock issued (in shares)	118,211,775	117,547,916
Common stock outstanding (in shares)	118,211,775	117,547,916

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 200,270	$ 213,022	$ 423,980	$ 448,595
Cost of revenue	126,764	129,715	266,909	264,657
Gross profit	73,506	83,307	157,071	183,938
Operating expenses:
Sales and marketing	43,811	47,269	76,905	78,120
General and administrative	28,886	24,802	71,755	38,358
Amortization of intangible assets	8,888	8,301	17,777	16,602
Change in fair value of contingent consideration	255	0	1,955	0
Goodwill impairment	111,485	0	111,485	0
Total operating expense	193,325	80,372	279,877	133,080
Income (loss) from operations	(119,819)	2,935	(122,806)	50,858
Other income (expense):
Interest expense	(7,064)	(7,877)	(12,901)	(15,689)
Loss on extinguishment of debt	0	(1,957)	0	(1,957)
Other income (expense), net	(5,350)	1,996	(4,806)	1,538
Total other expense	(12,414)	(7,838)	(17,707)	(16,108)
Income (loss) before provision for income taxes	(132,233)	(4,903)	(140,513)	34,750
Provision for income taxes	46	4	198	728
Net income (loss)	$ (132,279)	$ (4,907)	$ (140,711)	$ 34,022
Net income (loss) per share - basic (in dollars per share)	$ (1.12)	$ (0.05)	$ (1.19)	$ 0.31
Net income (loss) per share - diluted (in dollars per share)	$ (1.12)	$ (0.05)	$ (1.19)	$ 0.31
Weighted average common shares outstanding - basic (in shares)	118,211,168	108,724,387	118,051,090	108,724,387
Weighted average common shares outstanding - diluted (in shares)	118,211,168	108,724,387	118,051,090	108,724,387
Other comprehensive income:
Foreign currency translation adjustments	$ 12	$ 0	$ 9	$ 0
Change in cash flow hedge	5,735	0	12,324	0
Total other comprehensive income	5,747	0	12,333	0
Comprehensive income (loss)	$ (126,532)	$ (4,907)	$ (128,378)	$ 34,022

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBER'S AND STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Units	Common Stock	Members Capital	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020		108,724,422
Beginning balance at Dec. 31, 2020	$ 475,040	$ 0		$ 571,038	$ 0	$ (95,998)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	2,501			2,501
Net income (loss)	34,022					34,022
Foreign currency translation adjustments	0
Change in cash flow hedge	0
Ending balance (in shares) at Jun. 30, 2021		108,724,422
Ending balance at Jun. 30, 2021	511,563	$ 0		573,539	0	(61,976)	0
Beginning balance (in shares) at Mar. 31, 2021		108,724,422
Beginning balance at Mar. 31, 2021	514,925	$ 0		571,994	0	(57,069)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	1,545			1,545
Net income (loss)	(4,907)					(4,907)
Foreign currency translation adjustments	0
Change in cash flow hedge	0
Ending balance (in shares) at Jun. 30, 2021		108,724,422
Ending balance at Jun. 30, 2021	511,563	$ 0		$ 573,539	0	(61,976)	0
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance at Dec. 31, 2021		$ 0
Beginning balance (in shares) at Dec. 31, 2021			117,547,916
Beginning balance at Dec. 31, 2021	609,520		$ 12		794,413	(184,819)	(86)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plan (in shares)			669,385
Issuance of common stock under stock plan	0
Shares withheld related to net share settlement (in shares)			(5,526)
Shares withheld related to net share settlement	(41)				(41)
Equity-based compensation	27,434				27,434
Net income (loss)	(140,711)					(140,711)
Foreign currency translation adjustments	9						9
Change in cash flow hedge	12,324						12,324
Ending balance (in shares) at Jun. 30, 2022			118,211,775
Ending balance at Jun. 30, 2022	508,535		$ 12		821,806	(325,530)	12,247
Ending balance (in shares) at Jun. 30, 2022		0
Ending balance at Jun. 30, 2022		$ 0
Beginning balance (in shares) at Mar. 31, 2022		0
Beginning balance at Mar. 31, 2022		$ 0
Beginning balance (in shares) at Mar. 31, 2022			118,077,546
Beginning balance at Mar. 31, 2022	623,157		$ 12		809,896	(193,251)	6,500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plan (in shares)			139,755
Issuance of common stock under stock plan	0
Shares withheld related to net share settlement (in shares)			(5,526)
Shares withheld related to net share settlement	(41)				(41)
Equity-based compensation	11,951				11,951
Net income (loss)	(132,279)					(132,279)
Foreign currency translation adjustments	12						12
Change in cash flow hedge	5,735						5,735
Ending balance (in shares) at Jun. 30, 2022			118,211,775
Ending balance at Jun. 30, 2022	$ 508,535		$ 12		$ 821,806	$ (325,530)	$ 12,247
Ending balance (in shares) at Jun. 30, 2022		0
Ending balance at Jun. 30, 2022		$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (4,907)	$ (140,711)	$ 34,022
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of property, plant and equipment		6,023	4,497
Amortization of intangible assets		21,337	16,942
Amortization of deferred financing costs		979	1,373
Loss on disposal of property, plant and equipment		1,176	51
Loss on extinguishment of debt	1,957	0	1,957
Equity-based compensation expense		27,434	2,501
Bad debt expense		(127)	107
Unrealized loss on derivative contracts		2,864	4,112
Change in fair value of contingent consideration		(1,325)	0
Goodwill impairment	0	111,485	0
Change in operating assets and liabilities:
Accounts receivable		(18,709)	(55,165)
Inventories, net		(18,767)	(17,316)
Prepaid expenses and other current assets		(2,394)	(1,420)
Other non-current assets		23	(279)
Accounts payable and accrued expenses		(19,351)	24,798
Other non-current liabilities		19	13
Net cash provided by (used in) operating activities		(30,044)	16,194
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant, and equipment		(12,422)	(11,248)
Capitalization of patent costs		(305)	(327)
Net cash used in investing activities		(12,727)	(11,575)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit		110,600	65,000
Repayments on line of credit		(73,927)	(57,000)
Proceeds from long-term debt		12,500	510,000
Repayments of long-term debt		0	(446,355)
Payment of deferred financing costs		0	(8,478)
Principal payments on capital lease obligations		(217)	(184)
Payment of deferred offering costs		0	(3,906)
Payment of acquisition related contingent consideration		(9,275)	0
Taxes paid related to net share settlement of equity awards		(41)	0
Net cash provided by financing activities		39,640	59,077
Net increase (decrease) in cash and cash equivalents		(3,131)	63,696
Cash and cash equivalents at beginning of period		16,740	11,556
CASH AND CASH EQUIVALENTS AT END OF PERIOD	75,252	13,609	$ 75,252
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	13,898	11,781
Cash paid for income taxes	874	1,988
NON-CASH FINANCING AND INVESTING ACTIVITIES
Equipment purchased under capital leases	511	344
Property, plant, and equipment included in accounts payable and accrued expenses	$ 662	$ 8,736

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Nature of Operations – Traeger, Inc. and its wholly owned Subsidiaries (collectively "Traeger" or the "Company") design, source, sell, and support wood pellet fueled barbecue grills sold to retailers, distributors, and direct to consumers. The Company produces and sells the pellets used to fire the grills and also sells Traeger-branded rubs, spices and sauces, as well as grill accessories (including covers, barbecue tools, trays, liners, MEATER smart thermometers and merchandise). A significant portion of the Company’s sales are generated from customers throughout the United States ("U.S."), and the Company continues to develop distribution in Canada and Europe. The Company’s headquarters are in Salt Lake City, Utah. In July 2021, the Company effected a forward split of its 10 common units into 108,724,422 common units. All unit, per unit and related information presented in the accompanying consolidated financial statements have been retroactively adjusted, where applicable, to reflect the impact of the split of common units. Immediately prior to the effectiveness of the registration statement pertaining to the Company’s initial public offering ("IPO") on July 28, 2021, the Company converted from a Delaware limited liability company into a Delaware corporation, and changed its name from TGPX Holdings I LLC to Traeger, Inc. Pursuant to the statutory corporate conversion (the "Corporate Conversion"), all of the outstanding limited liability company interests of TGPX Holdings I LLC were converted into shares of common stock of Traeger, Inc., and TGP Holdings LP (the "Partnership") became the holder of such shares of common stock of Traeger, Inc. In connection with the Corporate Conversion, the Partnership liquidated and distributed these shares of common stock to the holders of partnership interests in the Partnership in direct proportion to their respective interests in the Partnership based upon the value of Traeger, Inc. at the time of the IPO, with a value implied by the initial public offering price of the shares of common stock sold in the IPO. Based on the IPO price of $18.00 per share, following the Partnership’s liquidation and distribution, including the elimination of any fractional shares resulting therefrom, and the Corporate Conversion, the Company had 108,724,387 shares of common stock outstanding immediately prior to the IPO. Basis of Presentation and Principles of Consolidation – The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The balance sheet as of December 31, 2021 has been derived from the audited consolidated financial statements at that date but does not include all information and footnotes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K , filed with the Securities and Exchange Commission on March 29, 2022 (the "Annual Report on Form 10-K"). In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary to fairly present the consolidated financial position, results of operations and cash flows for the interim periods presented. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of results that may be expected for any other interim period or for the year ended December 31, 2022. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates – The preparation of these financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates and the assumptions made by management that present the greatest amount of estimation uncertainty include business combination accounting for the fair value of assets acquired, liabilities assumed, and contingent considerations, customer credits and returns, obsolete inventory reserves, valuation and impairment of intangible assets including goodwill, unrealized positions on derivatives and reserves for warranty. Actual results could differ from these estimates. Concentrations – Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash in banks, trade accounts receivable, foreign currency contracts, and business activity with certain third-party contract manufacturers of our products. Credit is extended to customers based on an evaluation of the customer’s financial condition and collateral is not generally required in the Company’s sales transactions. Three customers (each large U.S. retailers) that accounted for a significant portion of net sales are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Customer A 13 % 17 % 15 % 20 % Customer B 20 % 16 % 21 % 20 % Customer C 21 % 16 % 18 % 16 % As of June 30, 2022, customers A, B, and C accounted for a significant portion of trade accounts receivable of 22%, 23%, and 17%, compared to 45%, 13%, and 13% as of December 31, 2021. Concentrations of credit risk exist to the extent credit terms are extended with these three large customers. A business failure on the part of any one of the three customers could result in a material amount of exposure to the Company. No other single customer accounted for greater than 10% of the Company’s net sales for the three and six months ended June 30, 2022 and 2021, respectively. Additionally, no other single customer accounted for greater than 10% of trade accounts receivable as of June 30, 2022 or December 31, 2021. The Company’s sales to dealers and distributors located outside the United States are generally denominated in U.S. dollars. The Company does have sales to certain dealers located in the European Union, the United Kingdom and Canada which are denominated in Euros, British Pounds and Canadian Dollars, respectively. The Company relies on a limited number of suppliers for its contract manufacturing of grills and accessories. A significant disruption in the operations of certain of these manufacturers, or in the transportation of parts and accessories would impact the production of the Company’s products for a substantial period of time, which could have a material adverse effect on the Company’s business, financial condition and results of operations. Goodwill – Goodwill represents the excess of consideration transferred over the fair value of tangible and identifiable intangible net assets acquired and the liabilities assumed in a business combination. Substantially all of the Company’s goodwill was recognized in the purchase price allocation when the Company was acquired in 2017, with smaller incremental amounts recognized in subsequent business combinations. Goodwill is not amortized, but is tested for impairment at the reporting unit level annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. In conducting the impairment test, the Company first reviews qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. We currently operate as a single reporting unit under the guidance in Topic 350, Intangibles - Goodwill and Other. When testing goodwill for impairment, the Company has the option of first performing a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If we elect to bypass the qualitative assessment, or if a qualitative assessment indicates it is more likely than not that carrying value exceeds its fair value, we perform a quantitative goodwill impairment test. Under the quantitative goodwill impairment test, if our reporting unit’s carrying amount exceeds its fair value, we will record an impairment charge based on that difference. To determine reporting unit fair value as part of the quantitative test, we use a weighting of fair values derived from the income approach and the market approach. Under the income approach, the Company projects the future cash flows and discount these cash flows to reflect their relative risk. The cash flows used are consistent with those the Company uses in its internal planning, which reflects actual business trends experienced and our long-term business strategy. Under the market approach, we use the guideline company method to develop valuation multiples and compare our reporting unit to similar publicly traded companies. In order to further validate the reasonableness of fair value as determined by the income and market approaches described above, a reconciliation to market capitalization is then performed by estimating a reasonable control premium and other market factors. Future changes in the judgments, assumptions and estimates that are used in the impairment testing for goodwill could result in significantly different estimates of fair value. As part of our annual goodwill impairment tests as of December 31, 2021 and 2020, no impairment was recorded as the events or changes in circumstances indicated that it was not more likely than not that the fair value of the single reporting unit is less than its carrying amount. In addition to the annual goodwill impairment test, the Company performed an interim goodwill impairment test and concluded that the carrying value of the single reporting unit exceeded its fair value and recorded a $111.5 million non-cash goodwill impairment charge for the three and six months ended June 30, 2022. For details associated with the Company's interim goodwill impairment testing, see Note 8 – Goodwill . Recently Issued Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and the FASB has also certain subsequent related ASUs that supplement and amend Topic 842. The guidance in Topic 842 replaces the leasing guidance in Topic 840, Leases. Under the new guidance, lessees are required to recognize right of use assets related to the leases and lease liabilities on the balance sheet. For leases with terms of 12 months or less, the lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2021 and for interim periods within fiscal years beginning after December 15, 2022. The Company has adopted this guidance effective January 1, 2022 and will present the impact of the new guidance in its annual statements as of December 31, 2022 and its interim statements thereafter. Management is currently in the process of evaluating its existing portfolio of operating leases for right of use assets and lease liabilities that would need be recognized upon implementation and the impact of this guidance on its consolidated financial statements and related disclosures. There have been no material changes to the implementation or evaluation of “Recently Issued Accounting Standards” as described in the Company's annual audited financial statements for the period ended December 31, 2021.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The following table disaggregates revenue by product category, geography, and sales channel for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, Revenue by product category 2022 2021 2022 2021 Grills $ 117,680 $ 156,101 $ 268,111 $ 334,756 Consumables 42,097 41,178 81,748 81,991 Accessories 40,493 15,743 74,121 31,848 Total revenue $ 200,270 $ 213,022 $ 423,980 $ 448,595 Three Months Ended June 30, Six Months Ended June 30, Revenue by geography 2022 2021 2022 2021 North America $ 187,359 $ 203,692 $ 394,701 $ 429,943 Rest of world 12,911 9,330 29,279 18,652 Total revenue $ 200,270 $ 213,022 $ 423,980 $ 448,595 Three Months Ended June 30, Six Months Ended June 30, Revenue by sales channel 2022 2021 2022 2021 Retail $ 162,137 $ 195,921 $ 365,354 $ 425,748 Direct to consumer 38,133 17,101 58,626 22,847 Total revenue $ 200,270 $ 213,022 $ 423,980 $ 448,595

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONOn July 1, 2021 (the "Acquisition Date"), pursuant to a share purchase agreement (the "Share Purchase Agreement"), the Company acquired all outstanding shares of Apption Labs Limited and its subsidiaries (collectively "Apption Labs"), a technology company that specializes in the manufacture and design of innovative hardware and software related to small kitchen appliances, including the MEATER smart thermometer and related technology. The total purchase consideration was approximately $78.3 million, net of cash acquired, which is comprised of cash paid, contingent consideration, net working capital adjustments, and escrow consideration. The acquisition of Apption Labs will help facilitate the Company's entry into the adjacent accessories markets with a highly complementary product that the Company believes will bolster our existing portfolio, create efficiencies for consumers and expose the Company to new growth channels. The purchase consideration includes contingent cash consideration payable to the sellers based on achievement of certain revenue thresholds for fiscal years 2021 and 2022 as detailed in the Share Purchase Agreement. The acquisition date fair value of contingent consideration obligation of $21.5 million is estimated based on the probability assessments with respect to the likelihood of achieving the performance targets and discount rates consistent with the level of risk of achievement. In April 2022, the Company paid $12.6 million associated with the contingent cash consideration to the sellers based on achievement of certain revenue thresholds for fiscal year 2021. The range of the remaining undiscounted amounts the Company may be required to pay under the contingent consideration arrangement is between $0 and $27.4 million for fiscal year 2022. See Note 10 – Fair Value Measurement for subsequent measurements of this contingent liability as of June 30, 2022. The Company recognized $1.8 million of acquisition-related costs during fiscal year 2021 that were recorded in general and administrative expense in the condensed consolidated statements of operations and comprehensive income (loss). The operating results of Apption Labs have been included in the Company's condensed consolidated statements of operations and comprehensive income (loss) since the acquisition date. Actual and pro forma revenue and results of operations for the acquisition have not been presented because they do not have a material impact to the consolidated revenue and results of operations, either individually or in the aggregate. In July 2022, the Company completed the determination and allocation of the consideration transferred and concluded no adjustments to the provisional amounts recognized in the Company's initial accounting for the acquisition. The acquisition was accounted for under the acquisition method in accordance with ASC 805. The following table summarizes the fair values of the consideration transferred, assets acquired, and liabilities assumed as of the Acquisition Date (in thousands): Consideration Transferred Fair Value Cash paid, net of cash acquired $ 36,957 Contingent consideration 21,500 Other closing consideration 19,890 Total purchase consideration, net of cash acquired $ 78,347 Assets acquired Accounts receivable, net $ 2,190 Inventory, net 5,431 Prepaid and other current assets 293 Property and equipment 1,357 Intangible Assets 53,100 Goodwill 40,200 Total assets acquired 102,571 Liabilities assumed Accounts payable and accrued liabilities 8,474 Deferred tax liability 12,646 Other current liabilities 344 Other non-current liabilities 2,760 Total liabilities assumed 24,224 Total net assets, net of cash acquired $ 78,347 The excess purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill, none of which is expected to be deductible for tax purposes. The goodwill generated from these transactions is attributable to the expected synergies to be achieved upon consummation of the business combinations and the assembled workforce values. The following table details the identifiable intangible assets acquired at their fair value and their corresponding useful lives at the Acquisition Date (amounts in thousands): Identifiable Intangible Assets Fair Value Estimated Useful Life (in years) Technology $ 32,300 5 Trademarks 17,700 10 Distributor relationships 2,400 8 Non-compete arrangements 700 2.5 $ 53,100 Identifiable intangible assets acquired primarily include technology, trademarks, distributor relationship, and non-compete arrangements. The fair value of technology acquired in the acquisition was determined using the excess earnings model, the trademarks acquired was determined using a relief from royalty model, the distributor relationships acquired was determined using the distributor model, and the non-compete arrangements acquired were determined using the with and without model. These models utilize certain unobservable inputs, including discounted cash flows, historical and projected financial information, royalty rates, distributor attrition rates, and technology obsolescence rates, classified as Level 3 measurements as defined by Fair Value Measurement (Topic 820). Amortization of technology is recorded in cost of revenue and amortization of trademarks, distributor relationships and non-compete arrangements are recorded in amortization of intangible assets in the condensed consolidated statements of operations and comprehensive income (loss).

ACCOUNTS RECEIVABLES, NET

ACCOUNTS RECEIVABLES, NET	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
ACCOUNTS RECEIVABLES, NET	ACCOUNTS RECEIVABLES, NET Accounts receivable consists of the following (in thousands): June 30, December 31, Trade accounts receivable $ 129,534 $ 108,620 Allowance for doubtful accounts (927) (1,090) Reserve for returns, discounts and allowances (16,844) (14,603) Total accounts receivable, net $ 111,763 $ 92,927

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following (in thousands): June 30, December 31, Raw materials $ 3,168 $ 3,106 Work in process 12,153 11,523 Finished goods 148,483 130,409 Inventories $ 163,804 $ 145,038 Included within inventories are adjustments of $1.0 million and $0.7 million at June 30, 2022 and December 31, 2021, respectively, to record inventory to net realizable value.

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSESAccrued expenses consisted of the following (in thousands): June 30, December 31, Accrual for inventories in-transit $ 11,837 $ 28,536 Warranty accrual 8,647 8,326 Accrued compensation and bonus 5,580 7,025 Build-to-suit lease liability 16,548 4,273 Other 31,595 21,613 Accrued expenses $ 74,207 $ 69,773 The changes in the Company’s warranty accrual, included in accrued expenses on the accompanying condensed consolidated balance sheets, were as follows for the fiscal periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Warranty accrual, beginning of period $ 8,731 $ 8,071 $ 8,326 $ 6,728 Warranty claims (2,604) (2,205) (4,088) (3,666) Warranty costs accrued 2,520 2,228 4,409 5,032 Warranty accrual, end of period $ 8,647 $ 8,094 $ 8,647 $ 8,094

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL In connection with the preparation of the condensed consolidated financial statements for three and six months ended June 30, 2022, the Company conducted additional testing of its goodwill and long-lived assets. As a result of this review, the Company concluded there were no events or changes in circumstances which indicated that the carrying value of the long-lived assets may not be recoverable, however, the Company did identify indicators of goodwill impairment for the single reporting unit and concluded that a triggering event had occurred which required an interim goodwill impairment assessment. The primary indicators of impairment were the adverse impacts from the macroeconomic conditions such as inflationary pressures and supply chain disruption, unfavorable demand, and the sustained decreases in the Company’s publicly quoted share price and market capitalization. As a result of these factors, the operating results for the six months ended June 30, 2022 were lower than expected. In performing the quantitative assessment of goodwill, the Company estimated the reporting unit's fair value under an income and market approach using a discounted cash flow model and guideline company model, respectively. The income approach used the reporting unit's projections of estimated operating results and cash flows that were discounted using a market participant discount rate based on the weighted-average cost of capital. The main assumptions supporting the cash flow projections include, but are not limited to, revenue growth, margins, discount rate, and terminal growth rate. The financial projections reflect management's best estimate of economic and market conditions over the projected period, including forecasted revenue growth, margins, capital expenditures, depreciation, and amortization. Under the market approach, the Company uses the guideline company method to develop valuation multiples and compare the single reporting unit to similar publicly traded companies. As a result of the interim quantitative impairment assessment, the carrying value of the single reporting unit exceeded its fair value, and the Company recorded a $111.5 million non-cash goodwill impairment charge for the three and six months ended June 30, 2022.

DERIVATIVES

DERIVATIVES	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES Interest Rate Swap On February 25, 2022, the Company entered into a floating-to-fixed interest rate swap agreement to hedge or otherwise protect against the Eurocurrency Base Rate (as defined in the First Lien Credit Agreement) fluctuations on a portion of the Company's variable rate debt. The agreement provides for a notional amount of $379.2 million, fixed rate of 2.08% and a maturity date of February 28, 2026. This agreement was designated as a cash flow hedge on the exposure of the variability of future cash flows subject to the variable monthly interest rates on $379.2 million of the term loan portion under the First Lien Term Loan Facility (as defined below). The Company assessed hedge effectiveness at the time of entering into the agreement, utilizing a regression analysis, and determined the hedge is expected to be highly effective. As a cash flow hedge, the interest rate swap is revalued at current market rates, with the changes in valuation being recorded in other comprehensive income within the condensed consolidated statements of operations and comprehensive income (loss), to the extent that the hedge is effective. The gains or losses on the interest rate swaps are recorded in accumulated other comprehensive income (loss) within the condensed consolidated balance sheets and are reclassified into interest expense in the periods in which the interest rate swap affects earnings. The cash flows related to interest settlements and changes in valuation are classified consistent with the treatment of the hedged monthly interest payments generally as operating activities on the condensed consolidated statement of cash flows. The Company evaluates hedge effectiveness of the interest rate swap quarterly, or more frequently if necessary, by verifying the critical terms of the interest rate swap continue to match the critical terms of the hedged monthly interest payments and the hedge was expected to be highly effective as of June 30, 2022. Thus, the change in fair value of the derivative instrument offsets the change in fair value on the hedged debt, and there is no ineffectiveness to be recorded in earnings. As of June 30, 2022, the net asset balance derived from the monthly interest settlements related to the single cash flow hedge contract was $12.3 million. Realized losses and unrealized gains from the interest rate swap were recorded in interest expense and other comprehensive income, respectively, within the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Realized losses $ (1,171) $ — $ (1,605) $ — Unrealized gains 5,735 — 12,324 — Total gains $ 4,564 $ — $ 10,719 $ — Foreign Currency Contracts The Company is exposed to foreign currency exchange rate risk related to its purchases and international operations. The Company utilizes foreign currency contracts to manage foreign currency risk in purchasing inventory and capital equipment, and future settlement of foreign denominated assets and liabilities. The volume of the Company’s foreign currency contract activity is limited by the amount of transaction exposure in each foreign currency and the Company’s election as to whether to hedge the transactions. There are no derivative instruments entered into for speculative purposes. The Company had outstanding foreign currency contracts as of June 30, 2022 and December 31, 2021. The Company did not elect hedge accounting for any of these contracts. All outstanding contracts are with the same counterparty and thus the fair market value of the contracts in an asset position are offset by the fair market value of the contracts in a liability position to reach a net position. For periods where the net position is an asset balance, the balance is recorded within prepaid expenses and other current assets on the condensed consolidated balance sheets and for periods where the net position is a liability balance, the balance is recorded within derivative liabilities on the condensed consolidated balance sheets. Changes in the net fair value of contracts are recorded in other expense in the condensed consolidated statements of operations and comprehensive income (loss). The gross and net balances from foreign currency contract positions were as follows (in thousands): June 30, December 31, Gross Asset Fair Value $ — $ 1,439 Gross Liability Fair Value 1,425 — Net Fair Value $ 1,425 $ 1,439 Gains (losses) from foreign currency contracts were recorded in other income (expense) within the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Realized gains (losses) $ (451) $ 2,899 $ 714 $ 5,448 Unrealized losses (2,294) (763) (2,864) (4,112) Total gains (losses) $ (2,745) $ 2,136 $ (2,150) $ 1,336

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Financial assets and liabilities valued using Level 1 inputs are based on unadjusted quoted market prices within active markets. Financial assets and liabilities valued using Level 2 inputs are based primarily on observable trades and/or prices for similar assets or liabilities in active or inactive markets. Financial assets and liabilities valued using Level 3 inputs are primarily valued using management’s assumptions about the assumptions market participants would utilize in pricing the asset or liability. The following table presents information about the fair value measurement of the Company’s financial instruments (in thousands): Financial Instruments Recorded at Fair Value on a Recurring Basis: Fair Value As of June 30, As of December 31, Assets: Derivative assets—foreign currency contracts (1) 2 $ — $ 1,439 Derivative assets—interest rate swap contract (2) 2 12,324 — Total assets $ 12,324 $ 1,439 Liabilities: Derivative liabilities—foreign currency contracts (3) 2 $ 1,425 $ — Contingent consideration—earn out (4) 3 14,700 25,300 Total liabilities $ 16,125 $ 25,300 (1) Included in prepaid expenses and other current assets in the condensed consolidated balance sheets (2) Included in prepaid expenses and other current assets and other non-current assets in the condensed consolidated balance sheets (3) Included in other current liabilities in the condensed consolidated balance sheets (4) Included in current and non-current contingent consideration in the condensed consolidated balance sheets Transfers of assets and liabilities among Level 1, Level 2 and Level 3 are recorded as of the actual date of the events or change in circumstances that caused the transfer. As of June 30, 2022 and December 31, 2021, there were no transfers between levels of the fair value hierarchy of the Company’s assets or liabilities measured at fair value. The fair value of the Company’s derivative assets through its foreign currency contracts is based upon observable market-based inputs that reflect the present values of the differences between estimated future foreign currency rates versus fixed future settlement prices per the contracts, and therefore, are classified within Level 2. The fair value of the Company's interest rate swap contracts held with financial institutions are classified as Level 2 financial instruments, which are valued using observable underlying interest rates and market-determined risk premiums at the reporting date. The fair values of the Company's contingent consideration earn out obligation associated with the Apption Labs business combination is estimated using a Monte Carlo model. Key assumptions used in the estimate include probability assessments with respect to the likelihood of achieving the performance target and discount rate of 14.49%, consistent with the level of risk of achievement. As these are significant unobservable inputs, the contingent consideration earn out obligation is included in Level 3 inputs. At each reporting date, the Company revalues the contingent consideration obligation to its fair value and records increases and decreases in fair value in the revaluation of contingent consideration in our condensed consolidated statements of operations and comprehensive income (loss). Changes in the fair value of the contingent consideration obligation results from changes in discount periods and rates, and changes in probability assumptions with respect to the likelihood of achieving the performance targets. The following table presents the fair value contingent consideration (in thousands): Balance at December 31, 2021 $ 25,300 Payments of contingent consideration (12,555) Change in fair value of contingent consideration 1,955 Balance at June 30, 2022 $ 14,700 The following financial instruments are recorded at their carrying amount (in thousands): As of June 30, 2022 As of December 31, 2021 Financial Instruments Recorded at Carrying Amount: Carrying Estimated Carrying Estimated Liabilities: Debt—Credit Facilities (1) $ 394,695 $ 333,395 $ 388,195 $ 386,139 Total liabilities $ 394,695 $ 333,395 $ 388,195 $ 386,139 (1) Included in notes payable in the consolidated balance sheets. Due to the unobservable nature of the inputs these financial instruments are considered to be Level 3 instruments in the fair value hierarchy.

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	DEBT AND FINANCING ARRANGEMENTS Notes Payable On June 29, 2021, the Company refinanced its existing credit facilities and entered into a new first lien credit agreement, as borrower, with Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, and other lenders party thereto as joint lead arrangers and joint bookrunners (the "First Lien Credit Agreement"). The First Lien Credit Agreement provides for a $560.0 million senior secured term loan facility (the "First Lien Term Loan Facility"), including a $50.0 million delayed draw term loan, and a $125.0 million revolving credit facility (the "Revolving Credit Facility" and, together with the First Lien Term Loan Facility, the "Credit Facilities"). The First Lien Term Loan Facility accrues interest at a rate per annum that considers both fixed and floating components. Following the completion of the Company's IPO in July 2021, the fixed component ranges from 3.00% to 3.25% per annum based on the Company's Public Debt Rating (as defined in the First Lien Credit Agreement). The floating component is based on the Eurocurrency Base Rate (as defined in the First Lien Credit Agreement) for the relevant interest period. The First Lien Term Loan Facility requires periodic principal payments from December 2021 through June 2028, with any remaining unpaid principal and any accrued and unpaid interest due on the maturity date of June 29, 2028. The delayed draw term loan includes a variable commitment fee, which is based on the fixed interest rate and ranges from 0% to the Applicable Rate (as defined in the First Lien Credit Agreement). As of June 30, 2022, the total principal amount outstanding on the First Lien Term Loan Facility was $391.7 million, including a $12.5 million outstanding principal balance under the delayed draw term loan, which the Company borrowed for purposes of financing the earn out obligation associated with the acquisition of Apption Labs as described in Note 4 – Business Combinations . Loans under the Revolving Credit Facility accrue interest at a rate per annum that considers both fixed and floating components. Following completion of the Company's IPO in July 2021, the fixed component ranges from 2.75% to 3.25% per annum based on the Company's most recently determined First Lien Net Leverage Ratio (as defined in the First Lien Credit Agreement). The floating component is based on the Eurocurrency Base Rate for the relevant interest period. The Revolving Credit Facility also has a variable commitment fee, which is based on the Company's most recently determined First Lien Net Leverage Ratio and ranges from 0.25% to 0.50% per annum on undrawn amounts. Letters of credit may be issued under the Revolving Credit Facility in an amount not to exceed $15.0 million which, when issued, lower the overall borrowing capacity of the facility. The Revolving Credit Facility expires on June 29, 2026 and no principal payments are due before such date. As of June 30, 2022, the Company had drawn down $3.0 million under the Revolving Credit Facility for general corporate and working capital purposes. The First Lien Credit Agreement contains certain affirmative and negative covenants that limit the Company's ability to, among other things, incur additional indebtedness or liens (with certain exceptions), make certain investments, engage in fundamental changes or transactions including changes of control, transfer or dispose of certain assets, make restricted payments (including dividends), engage in new lines of business, make certain prepayments and engage in certain affiliate transactions. In addition, the Company is subject to a financial covenant and is required to maintain a First Lien Net Leverage Ratio (as defined in the First Lien Credit Agreement) not to exceed 6.20 to 1.00. As of June 30, 2022, the Company was in compliance with the covenants under the Credit Facilities. On August 9, 2022, the Company entered into a second amendment (the “Amendment”) to the First Lien Credit Agreement to provide for a “Covenant Amendment Period” (as defined therein) through and including the earlier of June 30, 2023 and the date on which the Company, in its sole discretion, delivers written notice to the Administrative Agent of the Company's election to end the Covenant Amendment Period. During that period, the Company's springing First Lien Net Leverage Ratio covenant will be increased from 6.20 : 1.00 to 8.50 : 1.00 and a minimum liquidity covenant of $35.0 million will be in effect. Liquidity will be calculated as the sum of cash on the Company's balance sheet, availability under the Revolving Credit Facility and availability under the Receivables Financing Agreement (as defined below), and the minimum liquidity covenant will be tested only if and when the Company requests borrowings under the Revolving Credit Facility. During the Covenant Amendment Period, the fixed dollar portion of the “Fixed Dollar Amount” definition shall decrease from $127.0 million to $102.0 million, and the use of certain restricted payments baskets will be reduced or eliminated entirely. As of June 30, 2022, the Company would have been in compliance with these amended covenants under the Amendment. Accounts Receivable Credit Facility On November 2, 2020, the Company entered into a receivables financing agreement (as amended, the "Receivables Financing Agreement"). Through the Receivables Financing Agreement, the Company participates in a trade receivables securitization program, administered on its behalf by MUFG Bank Ltd. ("MUFG"), using outstanding accounts receivable balances as collateral, which have been contributed by the Company to its wholly owned subsidiary and special purpose entity, Traeger SPE LLC (the "SPE"). While the Company provides operational services to the SPE, the receivables are owned by the SPE once contributed to it by the Company. The Company is the primary beneficiary and holds all equity interests of the SPE, thus the Company consolidates the SPE without any significant judgments. On June 29, 2021, the Company entered into Amendment No. 1 to the Receivables Financing Agreement and increased the net borrowing capacity from the prior range of $30.0 million to $45.0 million up to $100.0 million. The borrowing capacity fluctuates at each month end based upon the amount of eligible outstanding domestic accounts receivables to be used as collateral. As of June 30, 2022, the Company had drawn down $83.8 million under this facility for general corporate and working capital purposes. The Company is required to pay an annual upfront fee for the facility, along with fixed interest on outstanding cash advances of 1.7%, a floating component based on the CP Rate (as defined in the Receivables Financing Agreement), and an unused capacity charge that ranges from 0.25% to 0.5%. The facility is set to terminate on June 29, 2024. As of June 30, 2022, the Company was in compliance with the covenants under the Receivables Financing Agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Matters The Company is subject to various claims, complaints and legal actions in the normal course of business. The Company does not believe it has any currently pending litigation of which the outcome will have a material adverse effect on its operations or financial position.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION Incentive Units On September 25, 2017, AEA Investors LP, TCP Traeger Holdings SPV LLC, Ontario Limited, and other management and limited partners purchased a 100% equity stake (the "Transaction") in Traeger Pellet Grills Holdings LLC through a merger agreement in which TGP Holdings LP was formed. In connection with the Transaction, TGP Holdings LP established a management incentive equity pool, authorizing a maximum of 99,389 total units, or 15% of the total autho rized units, for purposes of issuing compensatory awards to employees and certain directors of the Company, and its subsidiaries. Pursuant to the Amended and Restated Limited Partnership Agreement of TGP Holdings LP, dated as of September 25, 2017, eligible management employees and directors were granted a certain number of Class B Units of TGP Holdings LP which were intended to be treated as profit interests for tax purposes. The participation threshold of the Class B Units was historically established for each grant based on the fair market value of TGP Holdings LP membership units at the date of the grant. On July 12, 2021, the board of directors of TGP Holdings GP Corp, a Delaware corporation and the then general partner of TGP Holdings LP, approved the acceleration of vesting of all unvested and outstanding Class B Units, subject to the successful completion of the Company's IPO. The approval for the acceleration of vesting was determined to be a modification. As a result, the Company evaluated each of the modified awards to determine the necessary accounting. At the time of the IPO, awards where vesting was probable prior to and after the modification, resulted in an acceleration of the remaining expense based on the original grant date fair value and awards where vesting was not probable, resulted in recognition of the fair value of the modified awards as of the modification date. In connection with the completion of the Company’s IPO, Class B Units that were outstanding and vested were, as part of the Corporate Conversion, converted into shares of common stock of the Company. The Company recorded equity compensation expense of approximately $47.4 million as a result of the acceleration of vesting of the unvested Class B Units based on the IPO price of $18.00. Given the proximity of the modification to the IPO, the expense recorded by the Company was based on the actual conversion of the Class B Unit into common stock and the valuation of the Company at time of the IPO. Restricted Stock Unit Awards The Traeger, Inc. 2021 Incentive Award Plan (the "2021 Plan"), became effective as of July 28, 2021, the day prior to the first public trading date of our common stock. The 2021 Plan provides for the grant of stock options, including incentive stock options, and nonqualified stock options, restricted stock, dividend equivalents, restricted stock units, stock appreciation rights, and other stock or cash awards to the Company’s employees and consultants and directors of the Company and its subsidiaries. Subject to the adjustment described in the following sentence, the initial number of shares of the Company's common stock available for issuance under awards granted pursuant to the 2021 Plan is equal to 14,105,750 shares, which shares may be authorized but unissued shares, treasury shares, or shares purchased in the open market. On January 1, 2022, an additional 5,877,395 shares of common stock became available for issuance under awards granted pursuant to the 2021 Plan, as a result of the operation of an automatic annual increase provision in the 2021 Plan. Notwithstanding anything to the contrary in the 2021 Plan, no more than 100,000,000 shares of our common stock may be issued pursuant to the exercise of incentive stock options under the 2021 Plan. The Company's equity-based compensation was classified as follows in the condensed consolidated statements of operations and comprehensive income (loss) (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenue $ 13 $ 6 $ 151 $ 12 Sales and marketing 646 380 2,409 595 General and administrative 11,292 1,159 24,874 1,894 Total equity-based compensation $ 11,951 $ 1,545 $ 27,434 $ 2,501 On July 20, 2021, the board of directors of the Company (the "Board") approved grants of restricted stock units ("RSUs") covering 12,163,242 shares of common stock that became effective in connection with the completion of the Company’s IPO, which include RSUs covering 7,782,957 shares granted to the Company's Chief Executive Officer ("CEO") and RSUs covering 4,380,285 shares granted to other employees, directors, and certain non-employees. CEO Awards The awards include a combination of time-based and performance-based awards. Specifically, time-based RSUs covering 2,594,319 shares ("RSU CEO Award") and performance-based RSUs ("PSUs") covering 5,188,638 shares ("PSU CEO Award") were granted to the CEO. RSU CEO Award The RSU CEO Award will vest as to 20% of the underlying shares on each of the first, second, third, fourth and fifth anniversaries of the closing of the IPO, subject to continued service with the Company as its CEO or executive chairman of its Board. Upon a termination of the CEO's service by the Company without cause, by the CEO for good reason, or due to the CEO's disability (each as defined in his award agreement) or due to his death (each, a "CEO Qualifying Termination"), then, subject to the CEO's (or his estate's) timely execution and non revocation of a general release of claims and continued compliance with the restrictive covenants to which the CEO is bound through the effective date of the general release of claims, any unvested portion of the RSU CEO Award will vest. To the extent any of the RSU CEO Award vests, the CEO must hold the vested and settled shares for two years following their vesting date, subject to certain exceptions set forth in the award agreement. PSU CEO Award The PSU CEO Awards will become earned based on the achievement of stock price goals (measured as a volume-weighted stock price over 60 consecutive trading days) at any time until the ten Earned PSUs’ Vesting Tranche Vesting Date First Vesting Tranche 50% on the first anniversary and 50% on the second anniversary of the closing of the IPO Second Vesting Tranche 50% on the second anniversary and 50% on the third anniversary of the closing of the IPO Third Vesting Tranche 50% on the third anniversary and 50% on the fourth anniversary of the closing of the IPO Fourth Vesting Tranche 50% on the fourth anniversary and 50% on the fifth anniversary of the closing of the IPO Fifth Vesting Tranche 50% on the fifth anniversary and 50% on the sixth anniversary of the closing of the IPO Upon a CEO Qualifying Termination, then, subject to the CEO’s (or his estate's) timely execution and non-revocation of a general release of claims and continued compliance with the restrictive covenants to which the CEO is bound, any previously earned PSUs subject to the CEO PSU Award will vest, and any remaining PSUs that were not previously earned will be forfeited and terminated without consideration. To the extent any of the PSUs subject to the CEO PSU Award vest, the CEO must hold such vested shares for two years following their vesting date, subject to certain exceptions set forth in the award agreement. If the CEO experiences a termination of service other than a CEO Qualifying Termination, all PSUs (including earned PSUs) subject to the PSU CEO Award which have not become vested will be automatically forfeited and terminated as of the termination date without consideration. In the event the Company incurs a change in control, then any previously-earned PSUs will vest and any remaining PSUs will vest based on the price per share received by or payable with respect to the common stockholders in connection with the transaction, pro-rated to reflect a price per share that falls between two stock price goals. PSUs that remain unvested as of the expiration date automatically will be forfeited and terminated without consideration. Other IPO Awards The RSUs granted to other employees, directors, and certain non-employees, included 3,635,287 time-based RSUs ("IPO RSUs") and 744,998 performance-based RSUs ("IPO PSUs") granted to certain senior level executives of the Company. IPO RSUs The IPO RSUs vest based on certain time-based conditions set forth in the applicable award agreement. IPO RSUs granted to certain senior executives of the Company vest as to 50% of the underlying shares on each of the third and fourth anniversaries of the closing of the IPO, subject to continued employment with the Company or one of its subsidiaries. IPO PSUs The IPO PSUs consist of two equal tranches, with the first tranche having a stock price goal of 200% of the IPO price and the second tranche having a stock price goal of 300% of the IPO price. Once earned, the applicable IPO PSU will vest as to (i) 50% of the earned PSU upon the later of the first anniversary of the closing of the IPO or the achievement of the applicable stock price goal and (ii) 50% of the earned PSUs upon the later of the second anniversary of the closing of the IPO or the first anniversary of when the respective stock price goal is achieved with respect to the applicable vesting tranche, in each case, subject to continued employment with the Company or one of its subsidiaries. Upon a termination of employment due to an executive’s disability (each defined in the applicable award agreement) or due to his or her death, then, subject to such executive’s (or his or her estate’s) timely execution and non-revocation of a general release of claims and continued compliance with the restrictive covenants to which such executive is bound, any previously earned PSUs subject to the IPO PSUs will vest, and any remaining PSUs subject to the IPO PSU award that were not previously earned will be automatically forfeited and terminated as of the termination date without consideration. In the event the Company incurs a change in control, then any previously-earned PSUs will vest and any remaining PSUs will vest based on the price per share received by or payable with respect to the common stockholders in connection with the transaction, pro-rated to reflect a price per share that falls between two stock price goals. PSUs that remain unvested as of the expiration date automatically will be forfeited and terminated without consideration. For RSUs and PSUs, the compensation expense is recognized on a straight-line basis over the vesting schedule and on an accelerated basis over the tranche's requisite service period, respectively. In addition, when an award is forfeited prior to the vesting date, the Company will recognize an adjustment for the previously recognized expense in the period of the forfeiture, with the exception of performance-based awards for which the requisite service period has been provided. The Company uses the Monte Carlo pricing model to estimate the fair value of its PSUs as of the grant date, and uses various simulations of future stock prices through the Stochastic model to estimate the fair value over the remaining term of the performance period as of the grant date. A summary of the time-based restricted stock unit activity during the six months ended June 30, 2022 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 6,274,860 $ 18.08 Granted at fair value 1,153,821 6.81 Vested (669,385) 18.65 Forfeited (392,201) 17.16 Outstanding at June 30, 2022 6,367,095 $ 16.04 As of June 30, 2022, the Company h ad $81.5 million of unrecognized equity-based compensation expense related to unvested time-based restricted stock units that is expected to be recognized over a weighted-average period of 3.58 years. A summary of the performance-based restricted stock unit activity during the six months ended June 30, 2022 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 5,933,636 $ 13.25 Granted at fair value — — Vested — — Forfeited (93,333) 11.84 Outstanding at June 30, 2022 5,840,303 $ 13.27 As of June 30, 2022, the Com pany had $52.2 million of unrecognized equity-based compensation expense related to unvested performance-based units that is expected to be recognized over a weighted-average period of 3.33 years.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three months ended June 30, 2022 and 2021, the Company recorded income tax provision of $46,000 and $4,000, respectively. For the six months ended June 30, 2022 and 2021, the Company recorded income tax provision of $198,000 and $728,000, respectively. The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, loss carryback and tax planning strategies. Generally, more weight is given to objectively verifiable evidence, such as the cumulative loss in recent years, as a significant piece of negative evidence to overcome. As of June 30, 2022, the Company's U.S. operations have resulted in losses, and as such, the Company maintains a valuation allowance against substantially all its U.S. deferred tax assets.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe Company outsources a portion of its customer service and support through a third party who is an affiliate of the Company through common ownership. The total amount of expenses the Company recorded associated with such services totaled $3.6 million and $4.2 million for the six months ended June 30, 2022 and 2021, respectively. Amounts payable to the third party as of June 30, 2022 and December 31, 2021 was $1.3 million and $1.2 million, respectively.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE The Company computes basic earnings (loss) per share ("EPS") attributable to common stockholders by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted EPS is calculated by adjusting weighted average shares outstanding for the dilutive effect of potential common shares, determined using the treasury-stock method. For purposes of the diluted EPS calculation, restricted stock units are considered to be potential common shares. The following table sets forth the computation of the Company’s basic and diluted EPS attributable to common stockholders for the fiscal periods indicated (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net income (loss) $ (132,279) $ (4,907) $ (140,711) $ 34,022 Weighted-average common shares outstanding—basic (1) 118,211,168 108,724,387 118,051,090 108,724,387 Effect of dilutive securities: Restricted stock units — — — — Weighted-average common shares outstanding—diluted (1) 118,211,168 108,724,387 118,051,090 108,724,387 Earnings (loss) per share Basic and diluted $ (1.12) $ (0.05) $ (1.19) $ 0.31 (1) For the three and six months ended June 30, 2021, the Company retrospectively applied shares of common stock outstanding upon the Corporate Conversion, immediately prior to the IPO. Refer to Note 1 – Description of Business and Basis of Presentation for a description of the Corporate Conversion. The following table includes the number of units that may be dilutive common shares in the future, and were not included in the computation of diluted earnings (loss) per share because the effect was anti-dilutive for the fiscal periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Restricted stock units 12,207,398 — 12,207,398 —

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In July 2022, the Board approved a planned reduction in workforce, as part of a plan to reduce the Company’s costs and drive long-term operational efficiencies. Additionally, the Company took steps to suspend operations of Traeger Provisions, the Company's premium frozen meal kit business, and postpone nearshoring efforts to manufacture product in Mexico. These actions are expected to be substantially completed by the third quarter of fiscal year 2022. As a result of these actions, the Company expects to incur total pre-tax charges of between approximately $6.0 million and $7.0 million (the “Total Costs”), of which approximately $4.3 million to $5.0 million will result in future cash expenditures. Of the Total Costs, the Company expects pre-tax charges of between approximately $3.9 million and $4.3 million related to severance, termination and suspending operations of Traeger Provisions; and pre-tax charges of between approximately $2.1 million and $2.7 million related to postponing plans to manufacture product in Mexico.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The balance sheet as of December 31, 2021 has been derived from the audited consolidated financial statements at that date but does not include all information and footnotes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K , filed with the Securities and Exchange Commission on March 29, 2022 (the "Annual Report on Form 10-K"). In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary to fairly present the consolidated financial position, results of operations and cash flows for the interim periods presented. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of results that may be expected for any other interim period or for the year ended December 31, 2022.
Principles of Consolidation	The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	The preparation of these financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates and the assumptions made by management that present the greatest amount of estimation uncertainty include business combination accounting for the fair value of assets acquired, liabilities assumed, and contingent considerations, customer credits and returns, obsolete inventory reserves, valuation and impairment of intangible assets including goodwill, unrealized positions on derivatives and reserves for warranty. Actual results could differ from these estimates.
Concentrations	Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash in banks, trade accounts receivable, foreign currency contracts, and business activity with certain third-party contract manufacturers of our products. Credit is extended to customers based on an evaluation of the customer’s financial condition and collateral is not generally required in the Company’s sales transactions. Three customers (each large U.S. retailers) that accounted for a significant portion of net sales are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Customer A 13 % 17 % 15 % 20 % Customer B 20 % 16 % 21 % 20 % Customer C 21 % 16 % 18 % 16 % As of June 30, 2022, customers A, B, and C accounted for a significant portion of trade accounts receivable of 22%, 23%, and 17%, compared to 45%, 13%, and 13% as of December 31, 2021. Concentrations of credit risk exist to the extent credit terms are extended with these three large customers. A business failure on the part of any one of the three customers could result in a material amount of exposure to the Company. No other single customer accounted for greater than 10% of the Company’s net sales for the three and six months ended June 30, 2022 and 2021, respectively. Additionally, no other single customer accounted for greater than 10% of trade accounts receivable as of June 30, 2022 or December 31, 2021. The Company’s sales to dealers and distributors located outside the United States are generally denominated in U.S. dollars. The Company does have sales to certain dealers located in the European Union, the United Kingdom and Canada which are denominated in Euros, British Pounds and Canadian Dollars, respectively. The Company relies on a limited number of suppliers for its contract manufacturing of grills and accessories. A significant disruption in the operations of certain of these manufacturers, or in the transportation of parts and accessories would impact the production of the Company’s products for a substantial period of time, which could have a material adverse effect on the Company’s business, financial condition and results of operations.
Goodwill	Goodwill represents the excess of consideration transferred over the fair value of tangible and identifiable intangible net assets acquired and the liabilities assumed in a business combination. Substantially all of the Company’s goodwill was recognized in the purchase price allocation when the Company was acquired in 2017, with smaller incremental amounts recognized in subsequent business combinations. Goodwill is not amortized, but is tested for impairment at the reporting unit level annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. In conducting the impairment test, the Company first reviews qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. We currently operate as a single reporting unit under the guidance in Topic 350, Intangibles - Goodwill and Other. When testing goodwill for impairment, the Company has the option of first performing a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If we elect to bypass the qualitative assessment, or if a qualitative assessment indicates it is more likely than not that carrying value exceeds its fair value, we perform a quantitative goodwill impairment test. Under the quantitative goodwill impairment test, if our reporting unit’s carrying amount exceeds its fair value, we will record an impairment charge based on that difference. To determine reporting unit fair value as part of the quantitative test, we use a weighting of fair values derived from the income approach and the market approach. Under the income approach, the Company projects the future cash flows and discount these cash flows to reflect their relative risk. The cash flows used are consistent with those the Company uses in its internal planning, which reflects actual business trends experienced and our long-term business strategy. Under the market approach, we use the guideline company method to develop valuation multiples and compare our reporting unit to similar publicly traded companies.
Recently Issued Accounting Standards	In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and the FASB has also certain subsequent related ASUs that supplement and amend Topic 842. The guidance in Topic 842 replaces the leasing guidance in Topic 840, Leases. Under the new guidance, lessees are required to recognize right of use assets related to the leases and lease liabilities on the balance sheet. For leases with terms of 12 months or less, the lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2021 and for interim periods within fiscal years beginning after December 15, 2022. The Company has adopted this guidance effective January 1, 2022 and will present the impact of the new guidance in its annual statements as of December 31, 2022 and its interim statements thereafter. Management is currently in the process of evaluating its existing portfolio of operating leases for right of use assets and lease liabilities that would need be recognized upon implementation and the impact of this guidance on its consolidated financial statements and related disclosures. There have been no material changes to the implementation or evaluation of “Recently Issued Accounting Standards” as described in the Company's annual audited financial statements for the period ended December 31, 2021.
Fair Value Measurements	Financial assets and liabilities valued using Level 1 inputs are based on unadjusted quoted market prices within active markets. Financial assets and liabilities valued using Level 2 inputs are based primarily on observable trades and/or prices for similar assets or liabilities in active or inactive markets. Financial assets and liabilities valued using Level 3 inputs are primarily valued using management’s assumptions about the assumptions market participants would utilize in pricing the asset or liability.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of Significant Portion of Net Sales	Three customers (each large U.S. retailers) that accounted for a significant portion of net sales are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Customer A 13 % 17 % 15 % 20 % Customer B 20 % 16 % 21 % 20 % Customer C 21 % 16 % 18 % 16 %

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates revenue by product category, geography, and sales channel for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, Revenue by product category 2022 2021 2022 2021 Grills $ 117,680 $ 156,101 $ 268,111 $ 334,756 Consumables 42,097 41,178 81,748 81,991 Accessories 40,493 15,743 74,121 31,848 Total revenue $ 200,270 $ 213,022 $ 423,980 $ 448,595 Three Months Ended June 30, Six Months Ended June 30, Revenue by geography 2022 2021 2022 2021 North America $ 187,359 $ 203,692 $ 394,701 $ 429,943 Rest of world 12,911 9,330 29,279 18,652 Total revenue $ 200,270 $ 213,022 $ 423,980 $ 448,595 Three Months Ended June 30, Six Months Ended June 30, Revenue by sales channel 2022 2021 2022 2021 Retail $ 162,137 $ 195,921 $ 365,354 $ 425,748 Direct to consumer 38,133 17,101 58,626 22,847 Total revenue $ 200,270 $ 213,022 $ 423,980 $ 448,595

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of the consideration transferred, assets acquired, and liabilities assumed as of the Acquisition Date (in thousands): Consideration Transferred Fair Value Cash paid, net of cash acquired $ 36,957 Contingent consideration 21,500 Other closing consideration 19,890 Total purchase consideration, net of cash acquired $ 78,347 Assets acquired Accounts receivable, net $ 2,190 Inventory, net 5,431 Prepaid and other current assets 293 Property and equipment 1,357 Intangible Assets 53,100 Goodwill 40,200 Total assets acquired 102,571 Liabilities assumed Accounts payable and accrued liabilities 8,474 Deferred tax liability 12,646 Other current liabilities 344 Other non-current liabilities 2,760 Total liabilities assumed 24,224 Total net assets, net of cash acquired $ 78,347
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following table details the identifiable intangible assets acquired at their fair value and their corresponding useful lives at the Acquisition Date (amounts in thousands): Identifiable Intangible Assets Fair Value Estimated Useful Life (in years) Technology $ 32,300 5 Trademarks 17,700 10 Distributor relationships 2,400 8 Non-compete arrangements 700 2.5 $ 53,100

ACCOUNTS RECEIVABLES, NET (Tabl

ACCOUNTS RECEIVABLES, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consists of the following (in thousands): June 30, December 31, Trade accounts receivable $ 129,534 $ 108,620 Allowance for doubtful accounts (927) (1,090) Reserve for returns, discounts and allowances (16,844) (14,603) Total accounts receivable, net $ 111,763 $ 92,927

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): June 30, December 31, Raw materials $ 3,168 $ 3,106 Work in process 12,153 11,523 Finished goods 148,483 130,409 Inventories $ 163,804 $ 145,038

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): June 30, December 31, Accrual for inventories in-transit $ 11,837 $ 28,536 Warranty accrual 8,647 8,326 Accrued compensation and bonus 5,580 7,025 Build-to-suit lease liability 16,548 4,273 Other 31,595 21,613 Accrued expenses $ 74,207 $ 69,773
Schedule of Changes in Warranty Liability	The changes in the Company’s warranty accrual, included in accrued expenses on the accompanying condensed consolidated balance sheets, were as follows for the fiscal periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Warranty accrual, beginning of period $ 8,731 $ 8,071 $ 8,326 $ 6,728 Warranty claims (2,604) (2,205) (4,088) (3,666) Warranty costs accrued 2,520 2,228 4,409 5,032 Warranty accrual, end of period $ 8,647 $ 8,094 $ 8,647 $ 8,094

DERIVATIVES (Tables)

DERIVATIVES (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	Realized losses and unrealized gains from the interest rate swap were recorded in interest expense and other comprehensive income, respectively, within the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Realized losses $ (1,171) $ — $ (1,605) $ — Unrealized gains 5,735 — 12,324 — Total gains $ 4,564 $ — $ 10,719 $ —
Schedule of Foreign Exchange Contracts	The gross and net balances from foreign currency contract positions were as follows (in thousands): June 30, December 31, Gross Asset Fair Value $ — $ 1,439 Gross Liability Fair Value 1,425 — Net Fair Value $ 1,425 $ 1,439
Schedule of Gain (Loss) from Foreign Currency Contracts	Gains (losses) from foreign currency contracts were recorded in other income (expense) within the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Realized gains (losses) $ (451) $ 2,899 $ 714 $ 5,448 Unrealized losses (2,294) (763) (2,864) (4,112) Total gains (losses) $ (2,745) $ 2,136 $ (2,150) $ 1,336

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents information about the fair value measurement of the Company’s financial instruments (in thousands): Financial Instruments Recorded at Fair Value on a Recurring Basis: Fair Value As of June 30, As of December 31, Assets: Derivative assets—foreign currency contracts (1) 2 $ — $ 1,439 Derivative assets—interest rate swap contract (2) 2 12,324 — Total assets $ 12,324 $ 1,439 Liabilities: Derivative liabilities—foreign currency contracts (3) 2 $ 1,425 $ — Contingent consideration—earn out (4) 3 14,700 25,300 Total liabilities $ 16,125 $ 25,300 (1) Included in prepaid expenses and other current assets in the condensed consolidated balance sheets (2) Included in prepaid expenses and other current assets and other non-current assets in the condensed consolidated balance sheets (3) Included in other current liabilities in the condensed consolidated balance sheets (4) Included in current and non-current contingent consideration in the condensed consolidated balance sheets
Schedule of Fair Value Contingent Consideration	The following table presents the fair value contingent consideration (in thousands): Balance at December 31, 2021 $ 25,300 Payments of contingent consideration (12,555) Change in fair value of contingent consideration 1,955 Balance at June 30, 2022 $ 14,700
Schedule of Financial Instruments Recorded at Carrying Amount	The following financial instruments are recorded at their carrying amount (in thousands): As of June 30, 2022 As of December 31, 2021 Financial Instruments Recorded at Carrying Amount: Carrying Estimated Carrying Estimated Liabilities: Debt—Credit Facilities (1) $ 394,695 $ 333,395 $ 388,195 $ 386,139 Total liabilities $ 394,695 $ 333,395 $ 388,195 $ 386,139 (1) Included in notes payable in the consolidated balance sheets. Due to the unobservable nature of the inputs these financial instruments are considered to be Level 3 instruments in the fair value hierarchy.

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Equity-Based Compensation, Expensed and Capitalized Amount	The Company's equity-based compensation was classified as follows in the condensed consolidated statements of operations and comprehensive income (loss) (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenue $ 13 $ 6 $ 151 $ 12 Sales and marketing 646 380 2,409 595 General and administrative 11,292 1,159 24,874 1,894 Total equity-based compensation $ 11,951 $ 1,545 $ 27,434 $ 2,501
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The PSU CEO Award will vest on the applicable vesting date described in the following table or, if later, the date on which the applicable stock price goal is achieved, subject to the CEO's continued service as the Company's CEO or executive chairman of the Board: Earned PSUs’ Vesting Tranche Vesting Date First Vesting Tranche 50% on the first anniversary and 50% on the second anniversary of the closing of the IPO Second Vesting Tranche 50% on the second anniversary and 50% on the third anniversary of the closing of the IPO Third Vesting Tranche 50% on the third anniversary and 50% on the fourth anniversary of the closing of the IPO Fourth Vesting Tranche 50% on the fourth anniversary and 50% on the fifth anniversary of the closing of the IPO Fifth Vesting Tranche 50% on the fifth anniversary and 50% on the sixth anniversary of the closing of the IPO
Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option	A summary of the time-based restricted stock unit activity during the six months ended June 30, 2022 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 6,274,860 $ 18.08 Granted at fair value 1,153,821 6.81 Vested (669,385) 18.65 Forfeited (392,201) 17.16 Outstanding at June 30, 2022 6,367,095 $ 16.04 A summary of the performance-based restricted stock unit activity during the six months ended June 30, 2022 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 5,933,636 $ 13.25 Granted at fair value — — Vested — — Forfeited (93,333) 11.84 Outstanding at June 30, 2022 5,840,303 $ 13.27

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted EPS Attributable for Common Stockholders	The following table sets forth the computation of the Company’s basic and diluted EPS attributable to common stockholders for the fiscal periods indicated (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net income (loss) $ (132,279) $ (4,907) $ (140,711) $ 34,022 Weighted-average common shares outstanding—basic (1) 118,211,168 108,724,387 118,051,090 108,724,387 Effect of dilutive securities: Restricted stock units — — — — Weighted-average common shares outstanding—diluted (1) 118,211,168 108,724,387 118,051,090 108,724,387 Earnings (loss) per share Basic and diluted $ (1.12) $ (0.05) $ (1.19) $ 0.31 (1) For the three and six months ended June 30, 2021, the Company retrospectively applied shares of common stock outstanding upon the Corporate Conversion, immediately prior to the IPO. Refer to Note 1 – Description of Business and Basis of Presentation for a description of the Corporate Conversion.
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings (loss) Per Share	The following table includes the number of units that may be dilutive common shares in the future, and were not included in the computation of diluted earnings (loss) per share because the effect was anti-dilutive for the fiscal periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Restricted stock units 12,207,398 — 12,207,398 —

DESCRIPTION OF BUSINESS AND B_2

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021	Jul. 31, 2021	Jul. 28, 2021
Business Acquisition [Line Items]
Common unit outstanding (in shares)			108,724,422
Common stock outstanding (in shares)	118,211,775	117,547,916		108,724,387
Previously Reported
Business Acquisition [Line Items]
Common unit outstanding (in shares)			10
IPO
Business Acquisition [Line Items]
Sale of stock, price per share (in dollars per share)				$ 18

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Customer Concentration Risk	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue from Contract with Customer, Product and Service Benchmark | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	13%	17%	15%	20%
Revenue from Contract with Customer, Product and Service Benchmark | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	20%	16%	21%	20%
Revenue from Contract with Customer, Product and Service Benchmark | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	21%	16%	18%	16%
Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk percentage			22%		45%
Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk percentage			23%		13%
Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk percentage			17%		13%

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 200,270	$ 213,022	$ 423,980	$ 448,595
Retail
Disaggregation of Revenue [Line Items]
Total revenue	162,137	195,921	365,354	425,748
Direct to consumer
Disaggregation of Revenue [Line Items]
Total revenue	38,133	17,101	58,626	22,847
North America
Disaggregation of Revenue [Line Items]
Total revenue	187,359	203,692	394,701	429,943
Rest of world
Disaggregation of Revenue [Line Items]
Total revenue	12,911	9,330	29,279	18,652
Grills
Disaggregation of Revenue [Line Items]
Total revenue	117,680	156,101	268,111	334,756
Consumables
Disaggregation of Revenue [Line Items]
Total revenue	42,097	41,178	81,748	81,991
Accessories
Disaggregation of Revenue [Line Items]
Total revenue	$ 40,493	$ 15,743	$ 74,121	$ 31,848

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) - Apption Labs Limited - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Jul. 01, 2021	Apr. 30, 2022	Mar. 31, 2022
Business Acquisition [Line Items]
Total purchase consideration, net of cash acquired	$ 78,347
Contingent consideration	21,500
Payment of contingent consideration		$ 12,600
Business combination, low value of outcomes	0
Business combination, high value of outcomes	$ 27,400
Acquisition related costs			$ 1,800

BUSINESS COMBINATIONS - Prelimi

BUSINESS COMBINATIONS - Preliminary Fair Value Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jul. 01, 2021	Jun. 30, 2022	Dec. 31, 2021
Assets acquired
Goodwill		$ 185,562	$ 297,047
Apption Labs Limited
Consideration Transferred
Cash paid, net of cash acquired	$ 36,957
Contingent consideration	21,500
Other closing consideration	19,890
Total purchase consideration, net of cash acquired	78,347
Assets acquired
Accounts receivable, net	2,190
Inventory, net	5,431
Prepaid and other current assets	293
Property and equipment	1,357
Intangible Assets	53,100
Goodwill	40,200
Total assets acquired	102,571
Liabilities assumed
Accounts payable and accrued liabilities	8,474
Deferred tax liability	12,646
Other current liabilities	344
Other non-current liabilities	2,760
Total liabilities assumed	24,224
Total net assets, net of cash acquired	$ 78,347

BUSINESS COMBINATIONS - Summary

BUSINESS COMBINATIONS - Summary of Amount Assigned to Identifiable Intangible Assets (Details) - Apption Labs Limited $ in Thousands	Jul. 01, 2021 USD ($)
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 53,100
Technology
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 32,300
Useful life (in years)	5 years
Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 17,700
Useful life (in years)	10 years
Distributor relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 2,400
Useful life (in years)	8 years
Non-compete arrangements
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 700
Useful life (in years)	2 years 6 months

ACCOUNTS RECEIVABLES, NET (Deta

ACCOUNTS RECEIVABLES, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Trade accounts receivable	$ 129,534	$ 108,620
Allowance for doubtful accounts	(927)	(1,090)
Reserve for returns, discounts and allowances	(16,844)	(14,603)
Total accounts receivable, net	$ 111,763	$ 92,927

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 3,168	$ 3,106
Work in process	12,153	11,523
Finished goods	148,483	130,409
Inventories	163,804	145,038
Inventory adjustments	$ 1,000	$ 700

ACCRUED EXPENSES - Schedule of

ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrual for inventories in-transit	$ 11,837		$ 28,536
Warranty accrual	8,647	$ 8,731	8,326	$ 8,094	$ 8,071	$ 6,728
Accrued compensation and bonus	5,580		7,025
Build-to-suit lease liability	16,548		4,273
Other	31,595		21,613
Accrued expenses	$ 74,207		$ 69,773

ACCRUED EXPENSES - Change in Wa

ACCRUED EXPENSES - Change in Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Warranty accrual, beginning of period	$ 8,731	$ 8,071	$ 8,326	$ 6,728
Warranty claims	(2,604)	(2,205)	(4,088)	(3,666)
Warranty costs accrued	2,520	2,228	4,409	5,032
Warranty accrual, end of period	$ 8,647	$ 8,094	$ 8,647	$ 8,094

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 111,485	$ 0	$ 111,485	$ 0

DERIVATIVES - Narratives (Detai

DERIVATIVES - Narratives (Details) - USD ($) $ in Millions	Jun. 30, 2022	Feb. 25, 2022
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Notional amount		$ 379.2
Fixed interest rate		2.08%
Interest Rate Swap | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Net asset fair value	$ 12.3
First Lein Term Loan Facility | Secured Debt
Derivatives, Fair Value [Line Items]
Long-term debt		$ 379.2

DERIVATIVES - Summary of Realiz

DERIVATIVES - Summary of Realized Losses and Unrealized Gains On Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative [Line Items]
Realized losses	$ (7,064)	$ (7,877)	$ (12,901)	$ (15,689)
Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Realized losses	(1,171)	0	(1,605)	0
Unrealized gains	5,735	0	12,324	0
Total gains	$ 4,564	$ 0	$ 10,719	$ 0

DERIVATIVES - Summary of Gross

DERIVATIVES - Summary of Gross and Net Fair Value of Cash Flow Hedge Position (Details) $ in Millions	Jun. 30, 2022 USD ($)
Cash Flow Hedging | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Net Fair Value	$ 12.3

DERIVATIVES - Summary of Gros_2

DERIVATIVES - Summary of Gross and Net Fair Value of Foreign Currency Contracts (Details) - Foreign currency contract - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Gross Asset Fair Value	$ 0	$ 1,439
Gross Liability Fair Value	1,425	0
Net Fair Value	$ 1,425	$ 1,439

DERIVATIVES - Summary of Gains

DERIVATIVES - Summary of Gains (Losses) from Foreign Currency Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Realized gains (losses)	$ (451)	$ 2,899	$ 714	$ 5,448
Unrealized losses	(2,294)	(763)	(2,864)	(4,112)
Total gains (losses)	$ (2,745)	$ 2,136	$ (2,150)	$ 1,336

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Total assets	$ 12,324	$ 1,439
Liabilities:
Total liabilities	16,125	25,300
Level 2 | Interest rate contract
Assets:
Derivative asset	12,324	0
Level 2 | Foreign currency contract
Assets:
Derivative asset	0	1,439
Liabilities:
Derivative liability	1,425	0
Level 3
Liabilities:
Contingent consideration	$ 14,700	$ 25,300

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details)	Jun. 30, 2022
Level 3 | Measurement Input, Discount Rate | Apption Labs Limited, Earn Out Period Two
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration, measurement input	0.1449

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Fair value Consideration Payments (Details) - Level 3 $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 25,300
Payments of contingent consideration	(12,555)
Change in fair value of contingent consideration	1,955
Ending balance	$ 14,700

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Reported at Carrying Amount (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities	$ 394,695	$ 388,195
Carrying Amount | First Lein Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	394,695	388,195
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities	333,395	386,139
Estimated Fair Value | Level 3 | First Lein Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 333,395	$ 386,139

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Details) - USD ($)	Jun. 29, 2021	Aug. 09, 2022	Jun. 30, 2022	Jul. 31, 2021	Jun. 28, 2021
First Lein Term Loan Facility | Minimum
Debt Instrument [Line Items]
Fixed interest rate				3%
First Lein Term Loan Facility | Maximum
Debt Instrument [Line Items]
Fixed interest rate				3.25%
First Lein Term Loan Facility | Secured Debt
Debt Instrument [Line Items]
Face amount	$ 560,000,000
Outstanding principal balance			$ 391,700,000
Debt instrument, covenant, minimum leverage ratio	620%
Debt Instrument, Covenant, Fixed Dollar Amount	$ 127,000,000
First Lein Term Loan Facility | Secured Debt | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, covenant, minimum leverage ratio		850%
Debt Instrument, Covenant, Minimum Liquidity		$ 35,000,000
Debt Instrument, Covenant, Fixed Dollar Amount		$ 102,000,000
First Lein Term Loan Facility | Delayed Draw Term Loan
Debt Instrument [Line Items]
Face amount	$ 50,000,000
Outstanding principal balance			12,500,000
First Lein Term Loan Facility | Delayed Draw Term Loan | Minimum
Debt Instrument [Line Items]
Upfront fee percentage	0%
First Lein Term Loan Facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 125,000,000
Outstanding principal balance			$ 3,000,000
First Lein Term Loan Facility | Line of Credit | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Fixed interest rate				2.75%
Unused capacity percentage	0.25%
First Lein Term Loan Facility | Line of Credit | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Fixed interest rate				3.25%
Unused capacity percentage	0.50%
First Lein Term Loan Facility | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15,000,000
Accounts Receivable Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	100,000,000
Outstanding principal balance	$ 83,800,000
Accounts Receivable Credit Facility | Line of Credit | CP Rate
Debt Instrument [Line Items]
Upfront fee percentage	1.70%
Accounts Receivable Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Unused capacity percentage	0.25%
Current borrowing capacity					$ 30,000,000
Accounts Receivable Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Unused capacity percentage	0.50%
Current borrowing capacity					$ 45,000,000

EQUITY-BASED COMPENSATION - Nar

EQUITY-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Millions				6 Months Ended
	Aug. 02, 2021 USD ($) $ / shares	Jul. 20, 2021 tranche shares	Sep. 25, 2017 shares	Jun. 30, 2022 USD ($) shares	Jan. 01, 2022 shares
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)				100,000,000
Number of shares available for grant (in shares)				14,105,750
Number of additional shares available for grant (in shares)					5,877,395
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)		12,163,242
Restricted stock units | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)		7,782,957
Required period to hold shares after vesting		2 years
Restricted stock units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)		4,380,285
Restricted stock units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Restricted stock units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense | $				$ 81.5
Share-based payment arrangement, unrecognized compensation, weighted average period (in years)				3 years 6 months 29 days
Time-Based Restricted Stock Units | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)		2,594,319
Time-Based Restricted Stock Units | Chief Executive Officer | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		20%
Time-Based Restricted Stock Units | Chief Executive Officer | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		20%
Time-Based Restricted Stock Units | Chief Executive Officer | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		20%
Time-Based Restricted Stock Units | Chief Executive Officer | Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		20%
Time-Based Restricted Stock Units | Chief Executive Officer | Tranche Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		20%
Time-Based Restricted Stock Units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)		3,635,287
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense | $				$ 52.2
Share-based payment arrangement, unrecognized compensation, weighted average period (in years)				3 years 3 months 29 days
Performance-Based Restricted Stock Units | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)		5,188,638
Required period to hold shares after vesting		2 years
Award vesting period		60 days
Term of awards		10 years
Number of tranches | tranche		5
Performance-Based Restricted Stock Units | Chief Executive Officer | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding common stock		125%
Performance-Based Restricted Stock Units | Chief Executive Officer | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding common stock		125%
Performance-Based Restricted Stock Units | Chief Executive Officer | Third Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding common stock		125%
Performance-Based Restricted Stock Units | Chief Executive Officer | Fourth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding common stock		125%
Performance-Based Restricted Stock Units | Chief Executive Officer | Fifth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding common stock		125%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche One | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Two | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Two | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Three | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Three | Third Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Four | Third Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Four | Fourth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Five | Fourth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Chief Executive Officer | Tranche Five | Fifth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				50%
Performance-Based Restricted Stock Units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)		744,998
Performance-Based Restricted Stock Units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding common stock		200%
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding common stock		300%
Award vesting rights percentage		50%
Common Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation expense | $	$ 47.4
TGP Holdings LP | Common Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)			99,389
Share-based arrangement, maximum authorized unit percentage			15%
TGP Holdings LP | Common Class B | Traeger Pellet Grills Holsings LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity stake percentage			100%
IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share) | $ / shares	$ 18
IPO | Performance-Based Restricted Stock Units | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of tranches | tranche		2

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of Equity-based Compensation, Expensed and Capitalized Amount (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	$ 11,951	$ 1,545	$ 27,434	$ 2,501
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	13	6	151	12
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	646	380	2,409	595
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	$ 11,292	$ 1,159	$ 24,874	$ 1,894

EQUITY-BASED COMPENSATION - Ves

EQUITY-BASED COMPENSATION - Vesting Schedule of PSUs (Details) - Performance-Based Restricted Stock Units - Chief Executive Officer	6 Months Ended
	Jun. 30, 2022
First Anniversary | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Second Anniversary | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Second Anniversary | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Third Anniversary | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Third Anniversary | Third Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Fourth Anniversary | Third Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Fourth Anniversary | Fourth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Fifth Anniversary | Fourth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Fifth Anniversary | Fifth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%
Sixth Anniversary | Fifth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	50%

EQUITY-BASED COMPENSATION - Res

EQUITY-BASED COMPENSATION - Restricted Stock Unit Activity (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Time-Based Restricted Stock Units
Stock Appreciation Rights Activity
Outstanding at December 31, 2021 (in shares) | shares	6,274,860
Granted (in shares) | shares	1,153,821
Vested (in shares) | shares	(669,385)
Forfeited (in shares) | shares	(392,201)
Outstanding at March 31, 2021 (in shares) | shares	6,367,095
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value at December 30, 2021 (in dollars per share) | $ / shares	$ 18.08
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	6.81
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	18.65
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	17.16
Outstanding, Weighted average grant date fair value at March 31, 2021 (in dollars per share) | $ / shares	$ 16.04
Performance-Based Restricted Stock Units
Stock Appreciation Rights Activity
Outstanding at December 31, 2021 (in shares) | shares	5,933,636
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(93,333)
Outstanding at March 31, 2021 (in shares) | shares	5,840,303
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value at December 30, 2021 (in dollars per share) | $ / shares	$ 13.25
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	0
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	0
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	11.84
Outstanding, Weighted average grant date fair value at March 31, 2021 (in dollars per share) | $ / shares	$ 13.27

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 46	$ 4	$ 198	$ 728

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Affiliated Entity - Customer Service and Support - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Related party transaction expenses	$ 3.6	$ 4.2
Amount payable to third party	$ 1.3		$ 1.2

EARNINGS (LOSS) PER SHARE - Sch

EARNINGS (LOSS) PER SHARE - Schedule of Computation of Basic and Diluted EPS Attributable for Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income (loss)	$ (132,279)	$ (4,907)	$ (140,711)	$ 34,022
Weighted average common shares outstanding - basic (in shares)	118,211,168	108,724,387	118,051,090	108,724,387
Effect of dilutive securities:
Restricted stock (in shares)	0	0	0	0
Weighted average common shares outstanding - diluted (in shares)	118,211,168	108,724,387	118,051,090	108,724,387
Earnings Per Share, Basic and Diluted
Earnings (loss) per share - basic (in dollars per share)	$ (1.12)	$ (0.05)	$ (1.19)	$ 0.31
Earnings (loss) per share - diluted (in dollars per share)	$ (1.12)	$ (0.05)	$ (1.19)	$ 0.31

EARNINGS (LOSS) PER SHARE - S_2

EARNINGS (LOSS) PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	12,207,398	0	12,207,398	0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event $ in Millions	Jul. 31, 2022 USD ($)
Minimum
Subsequent Event [Line Items]
Expected pre-tax charge	$ 6
Expected future cash expenditures	4.3
Minimum | Employee severance, termination and suspending operations
Subsequent Event [Line Items]
Expected pre-tax charge	3.9
Minimum | Postponing plans to manufacture product
Subsequent Event [Line Items]
Expected pre-tax charge	2.1
Maximum
Subsequent Event [Line Items]
Expected pre-tax charge	7
Expected future cash expenditures	5
Maximum | Employee severance, termination and suspending operations
Subsequent Event [Line Items]
Expected pre-tax charge	4.3
Maximum | Postponing plans to manufacture product
Subsequent Event [Line Items]
Expected pre-tax charge	$ 2.7