Traeger (COOK) 10-Q/A 7 Aug 23 2023 Q1 Quarterly report (amended) Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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, par value $0.0001 per share
Trading Symbol	COOK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		123,910,539
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
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	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 15,232	$ 39,055
Restricted cash	12,500	12,500
Accounts receivable, net	99,591	42,050
Inventories	132,381	153,471
Prepaid expenses and other current assets	28,034	27,162
Total current assets	287,738	274,238
Property, plant, and equipment, net	49,775	55,510
Operating lease right-of-use assets	12,221	13,854
Goodwill	74,725	74,725
Intangible assets, net	502,290	512,858
Other non-current assets	11,248	15,530
Total assets	937,997	946,715
Current Liabilities
Accounts payable	26,244	29,841
Accrued expenses	56,286	52,295
Line of credit	40,909	11,709
Current portion of notes payable	250	250
Current portion of operating lease liabilities	4,491	5,185
Current portion of contingent consideration	12,400	12,157
Other current liabilities	803	1,470
Total current liabilities	141,383	112,907
Notes payable, net of current portion	438,936	468,108
Operating lease liabilities, net of current portion	8,045	9,001
Contingent consideration, net of current portion	11,390	10,590
Deferred tax liability	10,375	10,370
Other non-current liabilities	479	870
Total liabilities	610,608	611,846
Commitments and contingencies—See Note 10
Stockholders' equity:
Preferred stock, $0.0001 par value; 25,000,000 shares authorized and no shares issued or outstanding as of March 31, 2023 and December 31, 2022	0	0
Common stock value	12	12
Additional paid-in capital	890,012	882,069
Accumulated deficit	(581,405)	(570,475)
Accumulated other comprehensive income	18,770	23,263
Total stockholders' equity	327,389	334,869
Total liabilities and stockholders' equity	$ 937,997	$ 946,715

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
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)	122,642,599	122,624,414
Common stock outstanding (in shares)	122,642,599	122,624,414

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 153,161	$ 223,710
Cost of revenue	97,738	141,066
Gross profit	55,423	82,644
Operating expenses:
Sales and marketing	22,075	34,854
General and administrative	26,679	40,716
Amortization of intangible assets	8,889	8,889
Change in fair value of contingent consideration	1,043	1,700
Total operating expense	58,686	86,159
Loss from operations	(3,263)	(3,515)
Other income (expense):
Interest expense	(8,081)	(5,837)
Other income, net	578	544
Total other expense	(7,503)	(5,293)
Loss before provision for income taxes	(10,766)	(8,808)
Provision for income taxes	164	152
Net loss	$ (10,930)	$ (8,960)
Net income (loss) per share - basic (in dollars per share)	$ (0.09)	$ (0.08)
Net income (loss) per share - diluted (in dollars per share)	$ (0.09)	$ (0.08)
Weighted average common shares outstanding - basic (in shares)	122,699,114	117,889,233
Weighted average common shares outstanding - diluted (in shares)	122,699,114	117,889,233
Other comprehensive income (loss):
Foreign currency translation adjustments	$ (32)	$ (3)
Change in cash flow hedge	(2,088)	6,589
Amortization of dedesignated cash flow hedge	(2,373)	0
Total other comprehensive income (loss)	(4,493)	6,586
Comprehensive loss	$ (15,423)	$ (2,374)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBER'S AND STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2021		117,547,916
Beginning balance at Dec. 31, 2021		$ 12
Beginning balance at Dec. 31, 2021	$ 606,022		$ 794,413	$ (188,317)	$ (86)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plan (in shares)		529,630
Stock-based compensation	15,483		15,483
Net loss	(8,960)			(8,960)
Foreign currency translation adjustments	(3)				(3)
Change in cash flow hedge (as restated)	6,589				6,589
Ending balance (in shares) at Mar. 31, 2022		118,077,546
Ending balance at Mar. 31, 2022		$ 12
Ending balance at Mar. 31, 2022	619,131		809,896	(197,277)	6,500
Beginning balance (in shares) at Dec. 31, 2022		122,624,414
Beginning balance at Dec. 31, 2022	334,869	$ 12	882,069	(570,475)	23,263
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plan (in shares)		18,185
Issuance of common stock under stock plan	0
Stock-based compensation	7,943		7,943
Net loss	(10,930)			(10,930)
Foreign currency translation adjustments	(32)				(32)
Amortization of dedesignated cash flow hedge (as restated)	(2,373)				(2,373)
Change in cash flow hedge (as restated)	(2,088)				(2,088)
Ending balance (in shares) at Mar. 31, 2023		122,642,599
Ending balance at Mar. 31, 2023	327,389	$ 12		(581,405)	18,770
Ending balance at Mar. 31, 2023	$ 327,389		$ 890,012	$ (581,405)	$ 18,770

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (10,930)	$ (8,960)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property, plant and equipment	3,564	2,481
Amortization of intangible assets	10,638	10,645
Amortization of deferred financing costs	534	495
Loss on disposal of property, plant and equipment	1,870	152
Stock-based compensation expense	7,943	15,483
Bad debt expense	56	72
Unrealized gain (loss)	1,698	570
Amortization of dedesignated cash flow hedge	(2,373)	0
Change in fair value of contingent consideration	1,043	1,700
Other non-cash adjustments	(16)	0
Change in operating assets and liabilities:
Accounts receivable	(57,145)	(70,383)
Inventories	21,090	(18,561)
Prepaid expenses and other current assets	(1,214)	1,741
Other non-current assets	18	4
Accounts payable and accrued expenses	(73)	17,638
Other non-current liabilities	(293)	12
Net cash used in operating activities	(23,590)	(46,911)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant, and equipment	(2,082)	(4,524)
Capitalization of patent costs	(123)	(124)
Proceeds from sale of property, plant, and equipment	2,450	0
Net cash provided by (used in) investing activities	245	(4,648)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds on line of credit	62,200	46,100
Repayments on line of credit	(62,500)	(78)
Repayments of long-term debt	(51)	0
Principal payments on finance lease obligations	(127)	(105)
Net cash provided by (used in) financing activities	(478)	45,917
Net decrease in cash, cash equivalents and restricted cash	(23,823)	(5,642)
Cash, cash equivalents and restricted cash at beginning of period	51,555	16,740
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	27,732	11,098
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	4,718	4,897
Cash paid for income taxes	470	654
NON-CASH FINANCING AND INVESTING ACTIVITIES
Equipment purchased under finance leases	72	56
Property, plant, and equipment included in accounts payable and accrued expenses	$ 2,568	$ 7,226

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2023
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. Traeger, Inc. was incorporated in July 2021 in connection with the conversion of TGPX Holdings I LLC from a Delaware limited liability company into a Delaware corporation at the time of the Company's initial public offering ("IPO") and has no material assets and liabilities or standalone operations other than its ownership in its consolidated subsidiaries. TGPX Holdings II LLC is the only direct subsidiary of Traeger, Inc. TGPX Holdings II LLC is a holding company with no other operations, cash flows, material assets or liabilities other than the equity interest in TGP Holdings III LLC. 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. 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, 2022 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 accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K , filed with the Securities and Exchange Commission on March 16, 2023 (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 months ended March 31, 2023 are not necessarily indicative of results that may be expected for any other interim period or for the year ended December 31, 2023. 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. Emerging Growth Company Status – The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 ("JOBS Act"). Under the JOBS Act, emerging growth companies can delay adopting new or revised financial accounting standards until such time as those standards apply to private companies. The Company has elected to use the extended transition period for complying with the adoption of new or revised accounting standards and as a result of this election, its financial statements may not be comparable to companies that comply with public company effective dates. The Company will remain an emerging growth company until the earliest of (i) the end of the fiscal year in which the market value of its common stock that is held by non-affiliates is at least $700 million as of the last business day of its most recently completed second fiscal quarter, (ii) the end of the fiscal year in which the Company has total annual gross revenues of $1.24 billion or more during such fiscal year, (iii) the date on which the Company issues more than $1.0 billion in non-convertible debt in a three-year period, or (iv) December 31, 2026. Restatement of Previously Issued Unaudited Condensed Consolidated Financial Statements – The Company is restating its unaudited condensed consolidated financial statements for the three months ended March 31, 2023, included in this Amendment No. 1 on this Quarterly Report on Form 10-Q/A. The restatement reflects the correction of an error associated with the application of guidance within ASC 815 Derivatives and Hedging on the treatment of amounts within accumulated other comprehensive income (loss) upon cash flow hedge dedesignation of the Company's interest rate swaps. The following tables present the restated amounts, the adjustments made and the previously reported amounts to summarize the effect of the corrections on the previously reported condensed consolidated balance sheets, condensed consolidated statements of operations and comprehensive income (loss) and condensed consolidated statement of cash flows for the three months ended March 31, 2023 (in thousands, except per share amounts) : UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET: As of March 31, 2023 As Previously Reported Adjustment As Restated Stockholders' equity: Accumulated deficit $ (562,457) $ (18,948) $ (581,405) Accumulated other comprehensive income (loss) (178) 18,948 18,770 Total stockholders' equity 327,389 — 327,389 Total liabilities and stockholders' equity $ 937,997 $ — $ 937,997 UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Three Months Ended March 31, 2023 As Previously Reported Adjustment As Restated Other income (expense): Interest expense $ (10,454) $ 2,373 $ (8,081) Other income (expense), net 21,899 (21,321) 578 Total other income (expense) 11,445 (18,948) (7,503) Income (loss) before provision for income taxes 8,182 (18,948) (10,766) Net income (loss) $ 8,018 $ (18,948) $ (10,930) Net loss per share, basic and diluted $ 0.07 $ (0.16) $ (0.09) Other comprehensive income (loss): Change in cash flow hedge $ — $ (2,088) $ (2,088) Amortization of dedesignated cash flow hedge — (2,373) (2,373) Total other comprehensive loss (32) (4,461) (4,493) Comprehensive income (loss) $ 7,986 $ (23,409) $ (15,423) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY As Previously Reported Accumulated Accumulated Total Balance at December 31, 2022 $ (570,475) $ 23,263 $ 334,869 Net income 8,018 — 8,018 Change in cash flow hedge — (23,409) (23,409) Amortization of dedesignated cash flow hedge — — — Balance at March 31, 2023 $ (562,457) $ (178) $ 327,389 Adjustment Accumulated Accumulated Total Balance at December 31, 2022 $ — $ — $ — Net loss (18,948) — (18,948) Change in cash flow hedge — 21,321 21,321 Amortization of dedesignated cash flow hedge — (2,373) (2,373) Balance at March 31, 2023 $ (18,948) $ 18,948 $ — As Restated Accumulated Accumulated Total Balance at December 31, 2022 $ (570,475) $ 23,263 $ 334,869 Net loss (10,930) — (10,930) Change in cash flow hedge — (2,088) (2,088) Amortization of dedesignated cash flow hedge — (2,373) (2,373) Balance at March 31, 2023 $ (581,405) $ 18,770 $ 327,389 UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Three Months Ended March 31, 2023 As Previously Reported Adjustment As Restated Net income (loss) $ 8,018 $ (18,948) $ (10,930) Change in operating assets and liabilities: Unrealized loss (gain) on derivative contracts (19,623) 21,321 1,698 Amortization of dedesignated cash flow hedge — (2,373) (2,373) In addition to the changes reflected above, amounts were restated in the following Notes as a result of these adjustments: Note 7, Derivatives Note 14. Loss Per Share

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2023
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 the fair value of contingent consideration obligations, customer credits and returns, obsolete inventory reserves, valuation and impairment of intangible assets including goodwill, unrealized positions on foreign currency derivatives and reserves for warranty. Actual results could differ from these estimates. Restricted Cash – The Company considers cash to be restricted when withdrawal or general use is legally restricted. The restricted cash balance is associated with borrowings from the delayed draw term loan facility which are restricted in use. The Company anticipates utilizing these borrowings to settle the contingent consideration obligation. 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 March 31, 2023 2022 Customer A 17 % 17 % Customer B 22 % 23 % Customer C 12 % 14 % As of March 31, 2023, customers A, B, and C accounted for a significant portion of trade accounts receivable of 19%, 28%, and 12%, compared to 31%, 20%, and 8% as of December 31, 2022. 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 months ended March 31, 2023 and 2022, respectively. Additionally, no other single customer accounted for greater than 10% of trade accounts receivable as of March 31, 2023 and December 31, 2022. 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. Revenue Recognition and Sales Returns and Allowances – The Company recognizes revenue at the amount to which it expects to be entitled when a contract exists with a customer that specifies the goods and services to be provided at an agreed upon sales price and when the performance obligation is satisfied. The performance obligation for most of the Company’s sales transactions is considered complete when control transfers, which is determined when products are shipped or delivered to the customer depending on the terms of the contract. Sales are made on normal and customary short-term credit terms or upon delivery of point-of-sale transactions. Shipping charges billed to customers are included in net sales and related shipping costs are included in cost of sales. The company has elected to account for shipping and handling activities performed after control has been transferred to the customer as a fulfillment cost. The Company enters into contractual arrangements with customers in the form of individual customer orders which specify the goods, quantity, pricing, and associated order terms. The Company does not have long-term contracts that are satisfied over time. Due to the nature of the contracts, no significant judgment exists in relation to the identification of the customer contract or satisfaction of the performance obligation. The Company expenses incremental costs of obtaining a contract due to the short-term nature of the contracts. The Company has certain contractual programs and practices with customers that can give rise to elements of variable consideration such as customer cooperative advertising and volume incentive rebates. The Company estimates the variable consideration using the most likely amount method based on sales and contractual rates with each customer and records the estimated amount of credits for these programs as a reduction to net sales. The Company has entered into contracts with some customers that allow for credits to be claimed for certain matters of operational compliance or for returns to the retail customer from end consumers. Credits that will be issued associated with these items are estimated using the expected value method and are based on actual historical experience and are recorded as a reduction of revenue at the time of recognition or when circumstances change resulting in a change in estimated returns. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. New Accounting Pronouncements Recently Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), which requires entities to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial instruments measured at amortized cost and also applies to some off-balance sheet credit exposures. The Company has adopted this guidance effective January 1, 2023. The adoption of this guidance did not have a material impact on the Company’s accompanying condensed consolidated financial statements.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2023
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 March 31, Revenue by product category 2023 2022 Grills $ 89,738 $ 150,431 Consumables 30,045 39,651 Accessories 33,378 33,628 Total revenue $ 153,161 $ 223,710 Three Months Ended March 31, Revenue by geography 2023 2022 North America $ 138,937 $ 207,339 Rest of world 14,224 16,371 Total revenue $ 153,161 $ 223,710 Three Months Ended March 31, Revenue by sales channel 2023 2022 Retail $ 132,610 $ 203,217 Direct to consumer 20,551 20,493 Total revenue $ 153,161 $ 223,710

ACCOUNTS RECEIVABLES, NET

ACCOUNTS RECEIVABLES, NET	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
ACCOUNTS RECEIVABLES, NET	ACCOUNTS RECEIVABLES, NET Accounts receivable consists of the following (in thousands): March 31, December 31, Trade accounts receivable $ 114,692 $ 56,822 Allowance for expected credit losses (860) (867) Reserve for returns, discounts and allowances (14,241) (13,905) Total accounts receivable, net $ 99,591 $ 42,050

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIESInventories consisted of the following (in thousands): March 31, December 31, Raw materials $ 6,470 $ 7,110 Work in process 13,028 12,155 Finished goods 112,883 134,206 Inventories $ 132,381 $ 153,471 Included within inventories are adjustments of $0.5 million and $1.3 million at March 31, 2023 and December 31, 2022, respectively, to record inventory to net realizable value.

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses consisted of the following (in thousands): March 31, December 31, Accrual for inventories in-transit $ 7,185 $ 7,987 Warranty accrual 8,693 7,368 Accrued compensation and bonus 5,600 4,499 Other 34,808 32,441 Accrued expenses $ 56,286 $ 52,295 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 March 31, 2023 2022 Warranty accrual, beginning of period $ 7,368 $ 8,326 Warranty claims (1,472) (1,484) Warranty costs accrued 2,797 1,889 Warranty accrual, end of period $ 8,693 $ 8,731

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2023
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 accompanying condensed consolidated statements of operations and comprehensive 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 within the accompanying 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 accompanying condensed consolidated statement of cash flows. The Company evaluates hedge effectiveness of the interest rate swap quarterly, or more frequently if necessary. In January 2023, the Company changed the interest reset period from one month to three months on the term loan portion under the First Lien Term Loan Facility (as defined below). As a result, the Company dedesignated its hedging relationship. At the time of dedesignation the total amount recorded in accumulated other comprehensive income ("AOCI") was $21.3 million which amount will be amortized into earnings as a reduction of interest expense over the term of the previously hedged interest payments. The gross and net balances from the interest rate swap contract position were as follows (in thousands): March 31, December 31, Gross Asset Fair Value $ 18,959 $ 23,410 Gross Liability Fair Value — — Net Asset Fair Value $ 18,959 $ 23,410 For the three months ended March 31, 2023, as a result of the discontinued cash flow hedge accounting treatment, realized gain and unrealized loss from the interest rate swap were recorded in other income within the accompanying condensed consolidated statements of operations and comprehensive loss and the amortization of the amounts recorded within AOCI were recorded within interest expense. For the three months ended March 31, 2022, realized loss and unrealized gain from the interest rate swap were recorded in interest expense and other comprehensive income (loss), respectively, within the accompanying condensed consolidated statements of operations and comprehensive loss. 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 March 31, 2023 and December 31, 2022. The Company did not elect hedge accounting for any of these contracts. 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 accompanying condensed consolidated balance sheets and for periods where the net position is a liability balance, the balance is recorded within other current liabilities on the accompanying condensed consolidated balance sheets. Changes in the net fair value of contracts are recorded in other income in the accompanying condensed consolidated statements of operations and comprehensive loss. The gross and net balances from foreign currency contract positions were as follows (in thousands): March 31, December 31, Gross Asset Fair Value $ — $ — Gross Liability Fair Value 337 1,001 Net Liability Fair Value $ 337 $ 1,001 Gains (losses) from foreign currency contracts were recorded in other income within the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2023 2022 Realized gain (loss) $ (867) $ 1,165 Unrealized gain (loss) 620 (570) Total gain (loss) $ (247) $ 595

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSFor financial assets and liabilities recorded at fair value on a recurring or non-recurring basis, fair value is the price the Company would receive to sell an asset, or pay to transfer a liability, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In the absence of such data, fair value is estimated using internal information consistent with what market participants would use in a hypothetical transaction. In determining fair value, observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. These two types of inputs create the following fair value hierarchy: • Level 1: Quoted prices for identical instruments in active markets. • Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3: Significant inputs to the valuation model are unobservable. 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 March 31, As of December 31, Assets: Derivative assets—interest rate swap contract (1) 2 $ 18,959 $ 23,410 Total assets $ 18,959 $ 23,410 Liabilities: Derivative liability—foreign currency contracts (2) 2 $ 337 $ 1,001 Contingent consideration—earn out (3) 3 23,790 22,747 Total liabilities $ 24,127 $ 23,748 (1) Included in prepaid expenses and other current assets and other non-current assets in the accompanying condensed consolidated balance sheets (2) Included in other current liabilities in the accompanying condensed consolidated balance sheets (3) Included in current and non-current contingent consideration in the accompanying 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 March 31, 2023 and December 31, 2022, 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. On November 10, 2022, the Company entered into the second amendment to the share purchase agreement associated with the Apption Labs business combination to extend the earn out period through the end of fiscal year 2023. This amendment also modified the contingent consideration calculation associated with the achievement of certain revenue, earnings, and successful product launch thresholds for fiscal years 2022 and 2023. In April 2023, the Company used the restricted cash balance to pay $12.4 million associated with the contingent cash consideration to the sellers based on the achievement of certain thresholds for fiscal year 2022. The remaining undiscounted amounts the Company may be required to pay under the contingent consideration arrangement is $15.0 million, becoming due during the first half of fiscal year 2024. The fair values of the Company's contingent consideration earn out obligation is estimated using a Black Scholes model. Key assumptions used in these estimates include the weighted average cost of capital and the probability assessments with respect to the likelihood of achieving the forecasted performance targets 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 accompanying condensed consolidated statements of operations and comprehensive 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): Three Months Ended March 31, 2023 2022 Contingent consideration, beginning balance $ 22,747 $ 25,300 Payments of contingent consideration — — Change in fair value of contingent consideration 1,043 1,700 Contingent consideration, ending balance $ 23,790 $ 27,000 The following financial instruments are recorded at their carrying amount (in thousands): As of March 31, 2023 As of December 31, 2022 Financial Instruments Recorded at Carrying Amount: Carrying Estimated Carrying Estimated Liabilities: Debt—Credit Facilities (1) $ 446,508 $ 361,024 $ 476,070 $ 393,236 Total liabilities $ 446,508 $ 361,024 $ 476,070 $ 393,236 (1) Included in the current portion of notes payable and notes payable, net of current portion in the accompanying condensed 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	3 Months Ended
	Mar. 31, 2023
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). During 2022, the Company borrowed $25.0 million under the delayed draw term loan, for purposes of financing the Company's earn out obligation. The borrowing took place prior to the expiration of the delayed draw term commitment date of December 29, 2022. As of March 31, 2023, the total principal amount outstanding on the First Lien Term Loan Facility was $404.0 million. 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 March 31, 2023, the Company had drawn down $42.5 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. 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 March 31, 2023, the Company was 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. 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. The Company was in compliance with the covenants under the Receivables Financing Agreement as of March 31, 2023. As of March 31, 2023, the Company had drawn down $40.9 million under this facility for general corporate and working capital purposes.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
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.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATIONThe 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 19,983,145 shares, which shares may be authorized but unissued shares, treasury shares, or shares purchased in the open market. On January 1, 2023, an additional 6,131,220 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 stock-based compensation was classified as follows in the accompanying condensed consolidated statements of operations and comprehensive loss (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue $ 16 $ 138 Sales and marketing 730 1,763 General and administrative 7,197 13,582 Total stock-based compensation $ 7,943 $ 15,483 On July 20, 2021, the Board of Directors (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. Letter Agreement On August 31, 2022, the Board approved a letter agreement between the Company and the Company’s CEO (the “Letter Agreement”) intended to facilitate a personal tax planning initiative. The Letter Agreement provided for the accelerated vesting of 2,075,455 unvested shares subject to the RSUs CEO Award and 518,864 earned but unvested shared subject to the PSU CEO Award, and required the CEO to pay the withholding tax associated with the acceleration of the awards by cash or check, rather than by selling vested shares to cover the tax obligation with respect to such accelerated vesting. In addition, the Letter Agreement imposes certain clawback rights intended to maintain the retention incentives of the RSU CEO Award and the PSU CEO Award by mirroring their former vesting schedule. If the CEO experiences a termination of service, other than due to a qualifying termination (as defined in the applicable award agreements), prior to an original vesting date of an RSU or PSU, the CEO will forfeit and return to the Company that number of shares of the Company’s common stock that would not otherwise have vested pursuant to the terms of the original award agreements or, if he has disposed of or transferred such shares, he will deliver to the Company the corresponding value of those shares plus any gain realized in connection with such sale or other transfer. The approval for the acceleration of vesting was determined to be a modification and therefore, the Company evaluated each of the modified awards to determine the necessary accounting treatment. Vesting of the awards was assessed as probable immediately prior to and after the modification resulting in an acceleration of the remaining expense based on the original grant date fair value. As a result of the modification, the Company recorded approximately $39.4 million of accelerated stock-based compensation for the year ended December 31, 2022. 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 were originally eligible to 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. Amendments to RSUs In August 2022, the Board approved an amendment to the vesting schedule applicable to the IPO RSUs held by certain executives and other employees. Pursuant to the amendment, the IPO RSUs are eligible to vest as to one-third of the underlying shares on each of the first, second and third anniversaries of the closing of the IPO, subject to continued employment with the Company or one of its subsidiaries. In addition, in August 2022, the Board approved an amendment to RSUs previously granted to certain employees impacted by the Company’s reduction in workforce. The amendment provided for accelerated vesting of one-third of the RSUs underlying each award then-held by such employees upon any termination of service (as defined in the 2021 Plan), subject to the holder’s timely execution and delivery to the Company (and, as applicable, non-revocation) of a general release of claims in favor of the Company. The approval for the amendment to the vesting schedule was determined to be a modification and therefore, the Company evaluated each of the modified awards to determine the necessary accounting treatment. Awards where vesting was probable prior to and after the modification resulted in an acceleration of a portion of the remaining expense, consistent with the accelerated vesting schedule, based on the original grant date fair value. Awards where vesting was not probable prior to modification resulted in remeasurement of the fair value as of the modification date, which resulted in a decrease in total fair value of awards of approximately $6.7 million due to a decrease in the fair value between the original grant date and the modification date. Due to the decrease in the fair value between the original grant date and modification date, the Company recorded a cumulative-effect adjustment. As a result of the accelerated vesting schedule, net of the cumulative-effect adjustment, the Company recorded $1.1 million of accelerated stock-based compensation for the year ended December 31, 2022. 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 three months ended March 31, 2023 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 5,923,835 $ 6.73 Granted 18,821 3.95 Vested (18,284) 14.30 Forfeited (134,554) 8.75 Outstanding at March 31, 2023 5,789,818 $ 6.65 As of March 31, 2023, the Company had $26.4 million of unrecognized stock-based compensation expense related to unvested time-based restricted stock units that is expected to be recognized over a weighted-average pe riod of 1.83 years. A summary of the performance-based restricted stock unit activity during the three months ended March 31, 2023 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 4,714,242 $ 12.59 Granted — — Vested — — Forfeited — — Outstanding at March 31, 2023 4,714,242 $ 12.59 As of March 31, 2023, the Company had $33.2 million of unrecognized stock-based compensation expense related to unvested performance-based units that is expected to be recognized over a weighted-average period of 3.03 years. CEO and IPO PSU Cancellations; Performance Shares On April 13, 2023, following mutual agreement between the Company and each named executive officer, the Board approved the cancellation and termination of the unearned CEO PSUs and IPO PSUs originally granted to the executives on August 2, 2021. As a result, the Company expects to recognized approximately $27.5 million of stock-based compensation expense during the second quarter of 2023 related to the cancellations. On the same day, the Board approved a grant to the CEO of an award of 1,037,728 performance-based restricted shares (the “Performance Shares”). The Performance Shares were issued under the 2021 Plan and are intended to retain and incentivize the CEO to lead the Company to sustained, long-term superior financial performance. The Performance Shares are eligible to be earned upon the achievement of an Adjusted EBITDA goal during the fiscal year ending on December 31, 2023. If the Adjusted EBITDA goal is achieved, the earned Performance Shares will vest on March 31, 2024. If the Adjusted EBITDA goal is not achieved, then the Performance Shares instead will become eligible to be earned based on the achievement of a stock price goal of $18.00 per share (the "Stock Price Goal") for the period beginning on January 1, 2024 and ending on August 2, 2031. If the Stock Price Goal is achieved, the earned Performance Shares will vest on the later of March 31, 2024 and the date on which the Stock Price Goal is achieved. The vesting of the Performance Shares is in all cases subject to the CEO’s continued service as the Company's Chief Executive Officer or Executive Chairman of our Board. Upon a termination of the CEO’s service to the Company without cause, by the CEO for good reason, or due to the CEO’s death or disability (each as defined in his award agreement), any previously earned Performance Shares will vest, and any remaining Performance Shares will be forfeited and terminated without consideration as of the date of termination. The vesting of any Performance Shares upon a qualifying termination will be subject to the CEO’s timely execution and non-revocation of a general release of claims, and continued compliance with customary restrictive covenants. In the event the Company incurs a change in control (as defined in the 2021 Plan), then any previously-earned Performance Shares will vest, and any remaining Performance Shares will vest if the Stock Price Goal is achieved based on the price per share received by or payable to our holders of our common stock in connection with the transaction. Any remaining Performance Shares will be forfeited and terminated without consideration as of immediately prior to the change in control. The CEO is required to make an election under Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to the Performance Shares, and to pay the withholding tax associated with the issuance of the Performance Shares. To the extent the Performance Shares vest, the CEO must hold such shares for two years following the applicable vesting date, subject to certain exceptions set forth in the award agreement.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three months ended March 31, 2023 and 2022, the Company recorded an income tax expense of $0.2 million and $0.2 million, 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,

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2023
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 $1.0 million and $1.7 million for the three months ended March 31, 2023 and 2022, respectively. Amounts payable to the third party as of March 31, 2023 and December 31, 2022 was $0.7 million and $0.4 million, respectively.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	LOSS PER SHARE The Company computes basic earnings (loss) per share ("EPS") attributable to common stockholders by dividing net 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 March 31, 2023 2022 (as restated) Net loss $ (10,930) $ (8,960) Weighted-average common shares outstanding—basic 122,699,114 117,889,233 Effect of dilutive securities: Restricted stock units — — Weighted-average common shares outstanding—diluted 122,699,114 117,889,233 Loss per share Basic and diluted $ (0.09) $ (0.08) 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 March 31, 2023 2022 Restricted stock units 10,504,060 11,629,644

RESTRUCTURING PLAN

RESTRUCTURING PLAN	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING PLAN	RESTRUCTURING PLAN In July 2022, the Board approved a restructuring plan (the "2022 restructuring plan") as part of its efforts to reduce the Company’s costs and drive long-term operational efficiencies due to challenging macroeconomic pressures. As part of the 2022 restructuring plan, the Company eliminated approximately 14% of its global headcount, suspended operations of Traeger Provisions (the Company's premium frozen meal kit business), and postponed nearshoring efforts to manufacture product in Mexico. These actions were substantially completed in the third quarter of fiscal 2022. A summary of the activity in the restructuring reserve in connection with the Company's 2022 restructuring plan recorded in accrued expenses within the accompanying condensed consolidated balance sheets as follows (in thousands):

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	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, 2022 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 accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K , filed with the Securities and Exchange Commission on March 16, 2023 (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 months ended March 31, 2023 are not necessarily indicative of results that may be expected for any other interim period or for the year ended December 31, 2023.
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	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 the fair value of contingent consideration obligations, customer credits and returns, obsolete inventory reserves, valuation and impairment of intangible assets including goodwill, unrealized positions on foreign currency derivatives and reserves for warranty. Actual results could differ from these estimates.
Restricted Cash	Restricted Cash – The Company considers cash to be restricted when withdrawal or general use is legally restricted. The restricted cash balance is associated with borrowings from the delayed draw term loan facility which are restricted in use. The Company anticipates utilizing these borrowings to settle the contingent consideration obligation.
Concentrations	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 March 31, 2023 2022 Customer A 17 % 17 % Customer B 22 % 23 % Customer C 12 % 14 % As of March 31, 2023, customers A, B, and C accounted for a significant portion of trade accounts receivable of 19%, 28%, and 12%, compared to 31%, 20%, and 8% as of December 31, 2022. 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 months ended March 31, 2023 and 2022, respectively. Additionally, no other single customer accounted for greater than 10% of trade accounts receivable as of March 31, 2023 and December 31, 2022. 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.
Revenue Recognition and Sales Returns and Allowances	Revenue Recognition and Sales Returns and Allowances – The Company recognizes revenue at the amount to which it expects to be entitled when a contract exists with a customer that specifies the goods and services to be provided at an agreed upon sales price and when the performance obligation is satisfied. The performance obligation for most of the Company’s sales transactions is considered complete when control transfers, which is determined when products are shipped or delivered to the customer depending on the terms of the contract. Sales are made on normal and customary short-term credit terms or upon delivery of point-of-sale transactions. Shipping charges billed to customers are included in net sales and related shipping costs are included in cost of sales. The company has elected to account for shipping and handling activities performed after control has been transferred to the customer as a fulfillment cost. The Company enters into contractual arrangements with customers in the form of individual customer orders which specify the goods, quantity, pricing, and associated order terms. The Company does not have long-term contracts that are satisfied over time. Due to the nature of the contracts, no significant judgment exists in relation to the identification of the customer contract or satisfaction of the performance obligation. The Company expenses incremental costs of obtaining a contract due to the short-term nature of the contracts. The Company has certain contractual programs and practices with customers that can give rise to elements of variable consideration such as customer cooperative advertising and volume incentive rebates. The Company estimates the variable consideration using the most likely amount method based on sales and contractual rates with each customer and records the estimated amount of credits for these programs as a reduction to net sales. The Company has entered into contracts with some customers that allow for credits to be claimed for certain matters of operational compliance or for returns to the retail customer from end consumers. Credits that will be issued associated with these items are estimated using the expected value method and are based on actual historical experience and are recorded as a
New Accounting Pronouncements Recently Adopted	New Accounting Pronouncements Recently Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), which requires entities to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial instruments measured at amortized cost and also applies to some off-balance sheet credit exposures. The Company has adopted this guidance effective January 1, 2023. The adoption of this guidance did not have a material impact on the Company’s accompanying condensed consolidated financial statements.

DESCRIPTION OF BUSINESS AND B_2

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET: As of March 31, 2023 As Previously Reported Adjustment As Restated Stockholders' equity: Accumulated deficit $ (562,457) $ (18,948) $ (581,405) Accumulated other comprehensive income (loss) (178) 18,948 18,770 Total stockholders' equity 327,389 — 327,389 Total liabilities and stockholders' equity $ 937,997 $ — $ 937,997 UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Three Months Ended March 31, 2023 As Previously Reported Adjustment As Restated Other income (expense): Interest expense $ (10,454) $ 2,373 $ (8,081) Other income (expense), net 21,899 (21,321) 578 Total other income (expense) 11,445 (18,948) (7,503) Income (loss) before provision for income taxes 8,182 (18,948) (10,766) Net income (loss) $ 8,018 $ (18,948) $ (10,930) Net loss per share, basic and diluted $ 0.07 $ (0.16) $ (0.09) Other comprehensive income (loss): Change in cash flow hedge $ — $ (2,088) $ (2,088) Amortization of dedesignated cash flow hedge — (2,373) (2,373) Total other comprehensive loss (32) (4,461) (4,493) Comprehensive income (loss) $ 7,986 $ (23,409) $ (15,423) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY As Previously Reported Accumulated Accumulated Total Balance at December 31, 2022 $ (570,475) $ 23,263 $ 334,869 Net income 8,018 — 8,018 Change in cash flow hedge — (23,409) (23,409) Amortization of dedesignated cash flow hedge — — — Balance at March 31, 2023 $ (562,457) $ (178) $ 327,389 Adjustment Accumulated Accumulated Total Balance at December 31, 2022 $ — $ — $ — Net loss (18,948) — (18,948) Change in cash flow hedge — 21,321 21,321 Amortization of dedesignated cash flow hedge — (2,373) (2,373) Balance at March 31, 2023 $ (18,948) $ 18,948 $ — As Restated Accumulated Accumulated Total Balance at December 31, 2022 $ (570,475) $ 23,263 $ 334,869 Net loss (10,930) — (10,930) Change in cash flow hedge — (2,088) (2,088) Amortization of dedesignated cash flow hedge — (2,373) (2,373) Balance at March 31, 2023 $ (581,405) $ 18,770 $ 327,389 UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Three Months Ended March 31, 2023 As Previously Reported Adjustment As Restated Net income (loss) $ 8,018 $ (18,948) $ (10,930) Change in operating assets and liabilities: Unrealized loss (gain) on derivative contracts (19,623) 21,321 1,698 Amortization of dedesignated cash flow hedge — (2,373) (2,373)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 2022 Customer A 17 % 17 % Customer B 22 % 23 % Customer C 12 % 14 %

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, Revenue by product category 2023 2022 Grills $ 89,738 $ 150,431 Consumables 30,045 39,651 Accessories 33,378 33,628 Total revenue $ 153,161 $ 223,710 Three Months Ended March 31, Revenue by geography 2023 2022 North America $ 138,937 $ 207,339 Rest of world 14,224 16,371 Total revenue $ 153,161 $ 223,710 Three Months Ended March 31, Revenue by sales channel 2023 2022 Retail $ 132,610 $ 203,217 Direct to consumer 20,551 20,493 Total revenue $ 153,161 $ 223,710

ACCOUNTS RECEIVABLES, NET (Tabl

ACCOUNTS RECEIVABLES, NET (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consists of the following (in thousands): March 31, December 31, Trade accounts receivable $ 114,692 $ 56,822 Allowance for expected credit losses (860) (867) Reserve for returns, discounts and allowances (14,241) (13,905) Total accounts receivable, net $ 99,591 $ 42,050

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): March 31, December 31, Raw materials $ 6,470 $ 7,110 Work in process 13,028 12,155 Finished goods 112,883 134,206 Inventories $ 132,381 $ 153,471

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, December 31, Accrual for inventories in-transit $ 7,185 $ 7,987 Warranty accrual 8,693 7,368 Accrued compensation and bonus 5,600 4,499 Other 34,808 32,441 Accrued expenses $ 56,286 $ 52,295
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 March 31, 2023 2022 Warranty accrual, beginning of period $ 7,368 $ 8,326 Warranty claims (1,472) (1,484) Warranty costs accrued 2,797 1,889 Warranty accrual, end of period $ 8,693 $ 8,731

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cash Flow Hedging Position	The gross and net balances from the interest rate swap contract position were as follows (in thousands): March 31, December 31, Gross Asset Fair Value $ 18,959 $ 23,410 Gross Liability Fair Value — — Net Asset Fair Value $ 18,959 $ 23,410
Schedule of Gain (Loss) from Foreign Currency Contracts	Gains (losses) from foreign currency contracts were recorded in other income within the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2023 2022 Realized gain (loss) $ (867) $ 1,165 Unrealized gain (loss) 620 (570) Total gain (loss) $ (247) $ 595
Schedule of Foreign Exchange Contracts	The gross and net balances from foreign currency contract positions were as follows (in thousands): March 31, December 31, Gross Asset Fair Value $ — $ — Gross Liability Fair Value 337 1,001 Net Liability Fair Value $ 337 $ 1,001

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, As of December 31, Assets: Derivative assets—interest rate swap contract (1) 2 $ 18,959 $ 23,410 Total assets $ 18,959 $ 23,410 Liabilities: Derivative liability—foreign currency contracts (2) 2 $ 337 $ 1,001 Contingent consideration—earn out (3) 3 23,790 22,747 Total liabilities $ 24,127 $ 23,748 (1) Included in prepaid expenses and other current assets and other non-current assets in the accompanying condensed consolidated balance sheets (2) Included in other current liabilities in the accompanying condensed consolidated balance sheets (3) Included in current and non-current contingent consideration in the accompanying condensed consolidated balance sheets
Schedule of Fair Value Contingent Consideration	The following table presents the fair value contingent consideration (in thousands): Three Months Ended March 31, 2023 2022 Contingent consideration, beginning balance $ 22,747 $ 25,300 Payments of contingent consideration — — Change in fair value of contingent consideration 1,043 1,700 Contingent consideration, ending balance $ 23,790 $ 27,000
Schedule of Financial Instruments Recorded at Carrying Amount	The following financial instruments are recorded at their carrying amount (in thousands): As of March 31, 2023 As of December 31, 2022 Financial Instruments Recorded at Carrying Amount: Carrying Estimated Carrying Estimated Liabilities: Debt—Credit Facilities (1) $ 446,508 $ 361,024 $ 476,070 $ 393,236 Total liabilities $ 446,508 $ 361,024 $ 476,070 $ 393,236 (1) Included in the current portion of notes payable and notes payable, net of current portion in the accompanying condensed 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.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Equity-Based Compensation, Expensed and Capitalized Amount	The Company's stock-based compensation was classified as follows in the accompanying condensed consolidated statements of operations and comprehensive loss (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue $ 16 $ 138 Sales and marketing 730 1,763 General and administrative 7,197 13,582 Total stock-based compensation $ 7,943 $ 15,483
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	Other than the first vesting tranche, 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 our 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 three months ended March 31, 2023 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 5,923,835 $ 6.73 Granted 18,821 3.95 Vested (18,284) 14.30 Forfeited (134,554) 8.75 Outstanding at March 31, 2023 5,789,818 $ 6.65 Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 4,714,242 $ 12.59 Granted — — Vested — — Forfeited — — Outstanding at March 31, 2023 4,714,242 $ 12.59

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 2022 (as restated) Net loss $ (10,930) $ (8,960) Weighted-average common shares outstanding—basic 122,699,114 117,889,233 Effect of dilutive securities: Restricted stock units — — Weighted-average common shares outstanding—diluted 122,699,114 117,889,233 Loss per share Basic and diluted $ (0.09) $ (0.08)
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 March 31, 2023 2022 Restricted stock units 10,504,060 11,629,644

RESTRUCTURING PLAN (Tables)

RESTRUCTURING PLAN (Tables)	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	A summary of the activity in the restructuring reserve in connection with the Company's 2022 restructuring plan recorded in accrued expenses within the accompanying condensed consolidated balance sheets as follows (in thousands): Employee Related Costs Contract Exit Costs Balance at December 31, 2022 $ 135 $ 2,953 Net additions charged to expense — — Cash payments against reserve (116) (2,673) Balance at March 31, 2023 $ 19 $ 280

DESCRIPTION OF BUSINESS AND B_3

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Revisions of Unaudited Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Stockholders' equity:
Accumulated deficit	$ (581,405)	$ (570,475)
Accumulated other comprehensive income	18,770	23,263
Total stockholders' equity	327,389	334,869
Total liabilities and stockholders' equity	937,997	946,715
As Previously Reported
Stockholders' equity:
Accumulated deficit	(562,457)
Accumulated other comprehensive income	(178)
Total stockholders' equity	327,389	334,869
Total liabilities and stockholders' equity	937,997
Adjustment
Stockholders' equity:
Accumulated deficit	(18,948)
Accumulated other comprehensive income	18,948
Total stockholders' equity	0	$ 0
Total liabilities and stockholders' equity	$ 0

DESCRIPTION OF BUSINESS AND B_4

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Revisons of Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other income (expense):
Interest expense	$ (8,081)	$ (5,837)
Other income, net	578	544
Total other expense	(7,503)	(5,293)
Loss before provision for income taxes	(10,766)	(8,808)
Net loss	$ (10,930)	$ (8,960)
Earnings (loss) per share - basic (in dollars per share)	$ (0.09)	$ (0.08)
Earnings (loss) per share - diluted (in dollars per share)	$ (0.09)	$ (0.08)
Other comprehensive income (loss):
Change in cash flow hedge (as restated)	$ (2,088)	$ 6,589
Amortization of dedesignated cash flow hedge	(2,373)	0
Total other comprehensive income (loss)	(4,493)	6,586
Comprehensive loss	(15,423)	$ (2,374)
Adjustment Of Cash Flow Hedge
Other comprehensive income (loss):
Change in cash flow hedge (as restated)	(2,088)
As Previously Reported
Other income (expense):
Interest expense	10,454
Other income, net	21,899
Total other expense	11,445
Loss before provision for income taxes	8,182
Net loss	$ 8,018
Earnings (loss) per share - basic (in dollars per share)	$ 0.07
Earnings (loss) per share - diluted (in dollars per share)	$ 0.07
Other comprehensive income (loss):
Change in cash flow hedge (as restated)	$ (23,409)
Amortization of dedesignated cash flow hedge	0
Total other comprehensive income (loss)	(32)
Comprehensive loss	7,986
As Previously Reported | Adjustment Of Cash Flow Hedge
Other comprehensive income (loss):
Change in cash flow hedge (as restated)	0
Adjustment
Other income (expense):
Interest expense	(2,373)
Other income, net	(21,321)
Total other expense	(18,948)
Loss before provision for income taxes	(18,948)
Net loss	$ (18,948)
Earnings (loss) per share - basic (in dollars per share)	$ (0.16)
Earnings (loss) per share - diluted (in dollars per share)	$ (0.16)
Other comprehensive income (loss):
Change in cash flow hedge (as restated)	$ 21,321
Amortization of dedesignated cash flow hedge	(2,373)
Total other comprehensive income (loss)	(4,461)
Comprehensive loss	(23,409)
Adjustment | Adjustment Of Cash Flow Hedge
Other comprehensive income (loss):
Change in cash flow hedge (as restated)	$ (2,088)

DESCRIPTION OF BUSINESS AND B_5

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Revision of Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 334,869
Net loss	(10,930)	$ (8,960)
Change in cash flow hedge (as restated)	(2,088)	6,589
Amortization of dedesignated cash flow hedge (as restated)	(2,373)
Ending balance	327,389
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(570,475)
Net loss	(10,930)	(8,960)
Ending balance	(581,405)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	23,263
Change in cash flow hedge (as restated)	(2,088)	$ 6,589
Amortization of dedesignated cash flow hedge (as restated)	(2,373)
Ending balance	18,770
As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	334,869
Net loss	8,018
Change in cash flow hedge (as restated)	(23,409)
Ending balance	327,389
As Previously Reported | Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(570,475)
Net loss	8,018
Ending balance	(562,457)
As Previously Reported | Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	23,263
Change in cash flow hedge (as restated)	(23,409)
Ending balance	(178)
Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0
Net loss	(18,948)
Change in cash flow hedge (as restated)	21,321
Amortization of dedesignated cash flow hedge (as restated)	(2,373)
Ending balance	0
Adjustment | Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0
Net loss	(18,948)
Ending balance	(18,948)
Adjustment | Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0
Change in cash flow hedge (as restated)	21,321
Amortization of dedesignated cash flow hedge (as restated)	(2,373)
Ending balance	$ 18,948

DESCRIPTION OF BUSINESS AND B_6

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Revision of Unaudited Condensed Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (10,930)	$ (8,960)
Adjustments to reconcile net loss to net cash used in operating activities:
Unrealized gain (loss)	1,698	570
Amortization of dedesignated cash flow hedge	(2,373)	$ 0
As Previously Reported
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	8,018
Adjustments to reconcile net loss to net cash used in operating activities:
Unrealized gain (loss)	(19,623)
Amortization of dedesignated cash flow hedge	0
Adjustment
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	(18,948)
Adjustments to reconcile net loss to net cash used in operating activities:
Unrealized gain (loss)	21,321
Amortization of dedesignated cash flow hedge	$ (2,373)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue from Contract with Customer, Product and Service Benchmark | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	17%	17%
Revenue from Contract with Customer, Product and Service Benchmark | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	22%	23%
Revenue from Contract with Customer, Product and Service Benchmark | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	12%	14%
Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	19%		31%
Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	28%		20%
Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	12%		8%

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 153,161	$ 223,710
Retail
Disaggregation of Revenue [Line Items]
Total revenue	132,610	203,217
Direct to consumer
Disaggregation of Revenue [Line Items]
Total revenue	20,551	20,493
North America
Disaggregation of Revenue [Line Items]
Total revenue	138,937	207,339
Rest of world
Disaggregation of Revenue [Line Items]
Total revenue	14,224	16,371
Grills
Disaggregation of Revenue [Line Items]
Total revenue	89,738	150,431
Consumables
Disaggregation of Revenue [Line Items]
Total revenue	30,045	39,651
Accessories
Disaggregation of Revenue [Line Items]
Total revenue	$ 33,378	$ 33,628

ACCOUNTS RECEIVABLES, NET (Deta

ACCOUNTS RECEIVABLES, NET (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade accounts receivable	$ 114,692	$ 56,822
Allowance for expected credit losses	(860)	(867)
Reserve for returns, discounts and allowances	(14,241)	(13,905)
Total accounts receivable, net	$ 99,591	$ 42,050

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 6,470	$ 7,110
Work in process	13,028	12,155
Finished goods	112,883	134,206
Inventories	132,381	153,471
Inventory adjustments	$ 500	$ 1,300

ACCRUED EXPENSES - Schedule of

ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrual for inventories in-transit	$ 7,185	$ 7,987
Warranty accrual	8,693	7,368	$ 8,731	$ 8,326
Accrued compensation and bonus	5,600	4,499
Other	34,808	32,441
Accrued expenses	$ 56,286	$ 52,295

ACCRUED EXPENSES - Change in Wa

ACCRUED EXPENSES - Change in Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Warranty accrual, beginning of period	$ 7,368	$ 8,326
Warranty claims	(1,472)	(1,484)
Warranty costs accrued	2,797	1,889
Warranty accrual, end of period	$ 8,693	$ 8,731

DERIVATIVES - Narratives (Detai

DERIVATIVES - Narratives (Details) - USD ($) $ in Thousands	1 Months Ended
	Jan. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Feb. 25, 2022
Derivatives, Fair Value [Line Items]
Dedesignation of cash flow hedge	$ 21,300
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Notional amount				$ 379,200
Fixed interest rate				2.08%
Interest Rate Swap | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Net asset fair value		$ 18,959	$ 23,410
First Lein Term Loan Facility | Secured Debt
Derivatives, Fair Value [Line Items]
Long-term debt				$ 379,200

DERIVATIVES - Summary of Gross

DERIVATIVES - Summary of Gross and Net Fair Value of Cash Flow Hedge Position (Details) - Cash Flow Hedging - Interest Rate Swap - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Gross Asset Fair Value	$ 18,959	$ 23,410
Gross Liability Fair Value	0	0
Net Liability Fair Value	$ 18,959	$ 23,410

DERIVATIVES - Summary of Gains

DERIVATIVES - Summary of Gains (Losses) from Cash Flow Hedge Position (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Realized gain (loss)	$ (867)	$ 1,165
Unrealized gain (loss)	620	(570)
Total gain (loss)	$ (247)	$ 595

DERIVATIVES - Summary of Gros_2

DERIVATIVES - Summary of Gross and Net Fair Value from Foreign Currency Contracts (Details) - Foreign currency contract - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Gross Asset Fair Value	$ 0	$ 0
Gross Liability Fair Value	337	1,001
Net Liability Fair Value	$ 337	$ 1,001

DERIVATIVES - Summary of Gain_2

DERIVATIVES - Summary of Gains (Losses) from Foreign Currency Contract (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Realized gain (loss)	$ (867)	$ 1,165
Unrealized gain (loss)	620	(570)
Total gain (loss)	$ (247)	$ 595

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Interest rate swap | Cash Flow Hedging
Assets:
Derivative assets—interest rate swap contract	$ 18,959	$ 23,410
Liabilities:
Derivative liability—foreign currency contracts	0	0
Foreign currency contract
Assets:
Derivative assets—interest rate swap contract	0	0
Liabilities:
Derivative liability—foreign currency contracts	337	1,001
Fair Value, Recurring
Assets:
Total assets	18,959	23,410
Liabilities:
Total liabilities	24,127	23,748
Fair Value, Recurring | Level 2 | Interest rate contract
Assets:
Derivative assets—interest rate swap contract		23,410
Fair Value, Recurring | Level 3
Liabilities:
Contingent consideration—earn out	$ 23,790	$ 22,747

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - Apption Labs Limited - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2023	Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration, undiscounted amount		$ 15
Subsequent Event
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Payment of contingent consideration	$ 12.4

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Fair value Consideration Payments (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 22,747	$ 25,300
Payments of contingent consideration	0	0
Change in fair value of contingent consideration	1,043	1,700
Ending balance	$ 23,790	$ 27,000

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Reported at Carrying Amount (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities	$ 446,508	$ 476,070
Carrying Amount | First Lein Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	446,508	476,070
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities	361,024	393,236
Estimated Fair Value | Level 3 | First Lein Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 361,024	$ 393,236

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Details) - USD ($)		3 Months Ended
	Jun. 29, 2021	Mar. 31, 2023	Aug. 09, 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		$ 404,000,000
Debt instrument, covenant, minimum leverage ratio	620%		850%
Debt instrument, covenant, minimum liquidity			$ 35,000,000
Debt instrument, covenant, fixed dollar amount	$ 127,000,000		$ 102,000,000
First Lein Term Loan Facility | Delayed Draw Term Loan
Debt Instrument [Line Items]
Face amount	$ 50,000,000
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		42,500,000
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 | Secured Debt
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		$ 25,000,000
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	$ 40,900,000
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

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Millions				1 Months Ended	3 Months Ended		12 Months Ended
	Apr. 13, 2023 $ / shares shares	Aug. 31, 2022 shares	Jul. 20, 2021 tranche shares	Aug. 31, 2022 shares	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Jan. 01, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage				33.33%
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)						19,983,145
Number of additional shares available for grant (in shares)								6,131,220
2021 Plan | Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to cancellation | $					$ 27.5
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation expense | $							$ 39.4
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
Accelerated vesting (in shares)		2,075,455
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 | $						$ 26.4
Share-based payment arrangement, unrecognized compensation, weighted average period (in years)						1 year 9 months 29 days
Granted (in shares)						18,821
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 | $						$ 33.2
Share-based payment arrangement, unrecognized compensation, weighted average period (in years)						3 years 10 days
Granted (in shares)						0
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 | Chief Executive Officer | 2021 Plan | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Granted (in shares)	1,037,728
Adjusted EBITDA goal not achieved, stock price goal achievement, per share (in dollars per share) | $ / shares	$ 18
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%
Performance Shares | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting (in shares)		518,864
IPO | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation expense | $							$ 1.1
Decrease in fair value of awards				6,700,000
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

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Equity-based Compensation, Expensed and Capitalized Amount (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	$ 7,943	$ 15,483
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	16	138
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	730	1,763
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	$ 7,197	$ 13,582

STOCK-BASED COMPENSATION - Vest

STOCK-BASED COMPENSATION - Vesting Schedule of PSUs (Details)	1 Months Ended	3 Months Ended
	Aug. 31, 2022	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	33.33%
Performance-Based Restricted Stock Units | Tranche Two | Chief Executive Officer | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Tranche Two | Chief Executive Officer | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | First Anniversary | Chief Executive Officer | First Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Tranche Three | Chief Executive Officer | Second Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Tranche Three | Chief Executive Officer | Third Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Tranche Four | Chief Executive Officer | Third Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Tranche Four | Chief Executive Officer | Fourth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Tranche Five | Chief Executive Officer | Fourth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Tranche Five | Chief Executive Officer | Fifth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%
Performance-Based Restricted Stock Units | Sixth Anniversary | Chief Executive Officer | Fifth Vesting Tranche
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage		50%

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Unit Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Performance-Based Restricted Stock Units
Stock Appreciation Rights Activity
Outstanding at December 31, 2021 (in shares) | shares	4,714,242
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Outstanding at March 31, 2021 (in shares) | shares	4,714,242
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value at December 30, 2021 (in dollars per share) | $ / shares	$ 12.59
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	0
Outstanding, Weighted average grant date fair value at March 31, 2021 (in dollars per share) | $ / shares	$ 12.59
Time-Based Restricted Stock Units
Stock Appreciation Rights Activity
Outstanding at December 31, 2021 (in shares) | shares	5,923,835
Granted (in shares) | shares	18,821
Vested (in shares) | shares	(18,284)
Forfeited (in shares) | shares	(134,554)
Outstanding at March 31, 2021 (in shares) | shares	5,789,818
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value at December 30, 2021 (in dollars per share) | $ / shares	$ 6.73
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	3.95
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	14.30
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	8.75
Outstanding, Weighted average grant date fair value at March 31, 2021 (in dollars per share) | $ / shares	$ 6.65

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 164	$ 152

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Affiliated Entity - Customer Service and Support - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Related party transaction expenses	$ 1	$ 1.7
Amount payable to third party	$ 0.7		$ 0.4

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
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss	$ (10,930)	$ (8,960)
Weighted average common shares outstanding - basic (in shares)	122,699,114	117,889,233
Effect of dilutive securities:
Restricted stock (in shares)	0	0
Weighted average common shares outstanding - diluted (in shares)	122,699,114	117,889,233
Loss per share
Earnings (loss) per share - basic (in dollars per share)	$ (0.09)	$ (0.08)
Earnings (loss) per share - diluted (in dollars per share)	$ (0.09)	$ (0.08)

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
	Mar. 31, 2023	Mar. 31, 2022
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	10,504,060	11,629,644

RESTRUCTURING PLAN - Narrative

RESTRUCTURING PLAN - Narrative (Details)	3 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Number of positions eliminated, period percent	14%

RESTRUCTURING PLAN - Summary of

RESTRUCTURING PLAN - Summary of Activity in the Restructuring Reserve (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Employee Related Costs
Restructuring Reserve [Roll Forward]
Beginning balance	$ 135
Net additions charged to expense	0
Cash payments against reserve	(116)
Ending balance	19
Contract Exit Costs
Restructuring Reserve [Roll Forward]
Beginning balance	2,953
Net additions charged to expense	0
Cash payments against reserve	(2,673)
Ending balance	$ 280