Traeger (COOK) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		125,809,285
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
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	Sep. 30, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 11,280	$ 39,055
Restricted cash	0	12,500
Accounts receivable, net	50,996	42,050
Inventories	101,891	153,471
Prepaid expenses and other current assets	35,051	27,162
Total current assets	199,218	274,238
Property, plant, and equipment, net	55,232	55,510
Operating lease right-of-use assets	11,922	13,854
Goodwill	74,725	74,725
Intangible assets, net	481,155	512,858
Other non-current assets	14,468	15,530
Total assets	836,720	946,715
Current Liabilities
Accounts payable	26,028	29,841
Accrued expenses	40,682	52,295
Line of credit	25,000	11,709
Current portion of notes payable	250	250
Current portion of operating lease liabilities	3,772	5,185
Current portion of contingent consideration	10,810	12,157
Other current liabilities	1,726	1,470
Total current liabilities	108,268	112,907
Notes payable, net of current portion	397,009	468,108
Operating leases liabilities, net of current portion	8,418	9,001
Contingent consideration, net of current portion	0	10,590
Deferred tax liability	10,373	10,370
Other non-current liabilities	879	870
Total liabilities	524,947	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 September 30, 2023 and December 31, 2022	0	0
Common stock value	13	12
Additional paid-in capital	929,249	882,069
Accumulated deficit	(630,832)	(570,475)
Accumulated other comprehensive income	13,343	23,263
Total stockholders' equity	311,773	334,869
Total liabilities and stockholders' equity	$ 836,720	$ 946,715

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 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)	125,658,970	122,624,414
Common stock outstanding (in shares)	125,658,970	122,624,414
Operating leases liabilities, net of current portion	$ 8,418	$ 9,001

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 117,730	$ 93,788	$ 442,403	$ 517,768
Cost of revenue	73,064	68,710	278,983	336,605
Gross profit	44,666	25,078	163,420	181,163
Operating expenses:
Sales and marketing	25,913	25,496	75,903	102,401
General and administrative	24,823	70,485	103,873	142,637
Amortization of intangible assets	8,889	8,889	26,666	26,666
Change in fair value of contingent consideration	(2,300)	1,820	508	3,775
Restructuring costs	225	8,036	225	8,036
Goodwill impairment	0	110,837	0	222,322
Total operating expense	57,550	225,563	207,175	505,837
Loss from operations	(12,884)	(200,485)	(43,755)	(324,674)
Other income (expense):
Interest expense	(7,517)	(7,337)	(23,408)	(20,238)
Other income (expense), net	1,992	(3,545)	8,020	(8,351)
Total other expense	(5,525)	(10,882)	(15,388)	(28,589)
Loss before provision (benefit) for income taxes	(18,409)	(211,367)	(59,143)	(353,263)
Provision (benefit) for income taxes	852	(225)	1,214	(27)
Net loss	$ (19,261)	$ (211,142)	$ (60,357)	$ (353,236)
Net income (loss) per share - basic (in dollars per share)	$ (0.16)	$ (1.76)	$ (0.49)	$ (2.98)
Net income (loss) per share - diluted (in dollars per share)	$ (0.16)	$ (1.76)	$ (0.49)	$ (2.98)
Weighted average common shares outstanding - basic (in shares)	124,053,643	119,924,371	123,265,134	118,682,379
Weighted average common shares outstanding - diluted (in shares)	124,053,643	119,924,371	123,265,134	118,682,379
Other comprehensive income (loss):
Foreign currency translation adjustments	$ (27)	$ (67)	$ (24)	$ (58)
Change in cash flow hedge	0	12,285	(2,088)	24,609
Amortization of dedesignated cash flow hedge	(2,666)	0	(7,808)	0
Total other comprehensive income (loss)	(2,693)	12,218	(9,920)	24,551
Comprehensive loss	$ (21,954)	$ (198,924)	$ (70,277)	$ (328,685)

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
Beginning balance (in shares) at Dec. 31, 2021		117,547,916
Beginning balance at Dec. 31, 2021	$ 606,022	$ 12	$ 794,413	$ (188,317)	$ (86)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plan (in shares)		5,045,003
Issuance of common stock under stock plan	0
Shares withheld related to net share settlement (in shares)		(5,526)
Shares withheld related to net share settlement	(41)		(41)
Stock-based compensation	80,687		80,687
Net loss	(353,236)			(353,236)
Foreign currency translation adjustments	(58)				(58)
Change in cash flow hedge	24,609				24,609
Ending balance (in shares) at Sep. 30, 2022		122,587,393
Ending balance at Sep. 30, 2022	357,983	$ 12	875,059	(541,553)	24,465
Beginning balance (in shares) at Jun. 30, 2022		118,211,775
Beginning balance at Jun. 30, 2022	503,654	$ 12	821,806	(330,411)	12,247
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plan (in shares)		4,375,618
Issuance of common stock under stock plan	0
Stock-based compensation	53,253		53,253
Net loss	(211,142)			(211,142)
Foreign currency translation adjustments	(67)				(67)
Change in cash flow hedge	12,285				12,285
Ending balance (in shares) at Sep. 30, 2022		122,587,393
Ending balance at Sep. 30, 2022	357,983	$ 12	875,059	(541,553)	24,465
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)		3,034,556
Issuance of common stock under stock plan	1	$ 1
Stock-based compensation	47,180		47,180
Net loss	(60,357)			(60,357)
Foreign currency translation adjustments	(24)				(24)
Amortization of dedesignated cash flow hedge	(7,808)				(7,808)
Change in cash flow hedge	(2,088)				(2,088)
Ending balance (in shares) at Sep. 30, 2023		125,658,970
Ending balance at Sep. 30, 2023	311,773	$ 13	929,249	(630,832)	13,343
Beginning balance (in shares) at Jun. 30, 2023		123,960,782
Beginning balance at Jun. 30, 2023	327,525	$ 12	923,048	(611,571)	16,036
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plan (in shares)		1,698,188
Issuance of common stock under stock plan	1	$ 1
Stock-based compensation	6,201		6,201
Net loss	(19,261)			(19,261)
Foreign currency translation adjustments	(27)				(27)
Amortization of dedesignated cash flow hedge	(2,666)				(2,666)
Change in cash flow hedge	0
Ending balance (in shares) at Sep. 30, 2023		125,658,970
Ending balance at Sep. 30, 2023	$ 311,773	$ 13	$ 929,249	$ (630,832)	$ 13,343

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (60,357)	$ (353,236)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property, plant and equipment	11,204	9,703
Amortization of intangible assets	32,074	32,025
Amortization of deferred financing costs	1,519	1,468
Loss on disposal of property, plant and equipment	2,262	707
Stock-based compensation expense	47,180	80,687
Bad debt expense	153	(317)
Unrealized loss (gain) on derivative contracts	(2,689)	4,567
Amortization of dedesignated cash flow hedge	(7,808)	0
Change in fair value of contingent consideration	288	495
Goodwill impairment	0	222,322
Restructuring costs	0	1,419
Other non-cash adjustments	(15)	0
Change in operating assets and liabilities:
Accounts receivable, net	(9,099)	58,874
Inventories	51,580	(14,845)
Prepaid expenses and other current assets	(6,077)	(7,118)
Other non-current assets	(393)	64
Accounts payable and accrued expenses	(15,467)	(42,838)
Other non-current liabilities	4	22
Net cash provided by (used in) operating activities	44,359	(6,001)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant, and equipment	(15,678)	(15,128)
Capitalization of patent costs	(373)	(403)
Proceeds from sale of property, plant, and equipment	2,925	0
Net cash used in investing activities	(13,126)	(15,531)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit	103,100	166,978
Repayments on line of credit	(161,809)	(156,666)
Proceeds from long-term debt	0	12,500
Repayments of long-term debt	(188)	0
Principal payments on finance lease obligations	(386)	(355)
Payments of acquisition related contingent consideration	(12,225)	(9,275)
Taxes paid related to net share settlement of equity awards	0	(41)
Net cash provided by (used in) financing activities	(71,508)	13,141
Net decrease in cash, cash equivalents and restricted cash	(40,275)	(8,391)
Cash, cash equivalents and restricted cash at beginning of period	51,555	16,740
CASH AND CASH EQUIVALENTS AT END OF PERIOD	11,280	$ 8,349
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest	30,243
Cash paid for income taxes	2,449
NON-CASH FINANCING AND INVESTING ACTIVITIES
Equipment purchased under finance leases	451
Property, plant, and equipment included in accounts payable and accrued expenses	$ 2,152

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 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 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 and nine months ended September 30, 2023 are not necessarily indicative of results that may be expected for any other interim period or for the year ended December 31, 2023. 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
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 that are restricted in use and were drawn down to fund payments of contingent consideration associated with the acquisition of Apption Labs. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer A 14 % 14 % 18 % 15 % Customer B 20 % 5 % 18 % 18 % Customer C 8 % 17 % 12 % 17 % As of September 30, 2023, customers A, B, C, and D accounted for a significant portion of trade accounts receivable of 18%, 28%, 5%, and 13% compared to 31%, 20%, 8%, and 4% as of December 31, 2022. Concentrations of credit risk exist to the extent credit terms are extended with these four large customers. A business failure on the part of any one of the four customers could result in a material amount of exposure to the Company. No other single customer accounted for greater than 10% of the Company’s net sales for the three and nine months ended September 30, 2023 and 2022, respectively. Additionally, no other single customer accounted for greater than 10% of trade accounts receivable as of September 30, 2023 or 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. In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU is intended to ease the potential accounting and financial reporting burden of reference rate reform, including the expected market transition from the London Interbank Offering Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The guidance provides optional expedients and scope exceptions for transactions if certain criteria are met. These transactions include contract modifications, hedge accounting, and the sale or transfer of debt securities classified as held-to-maturity. The Company adopted this ASU in the second quarter of 2023. Adoption of this new standard did not have a material impact on the Company's consolidated financial statements and related disclosures.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	The following tables disaggregates revenue by product category, geography, and sales channel for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Revenue by product category 2023 2022 2023 2022 Grills $ 56,573 $ 38,994 $ 239,444 $ 307,105 Consumables 25,385 25,151 90,330 106,899 Accessories 35,772 29,643 112,629 103,764 Total revenue $ 117,730 $ 93,788 $ 442,403 $ 517,768 Three Months Ended September 30, Nine Months Ended September 30, Revenue by geography 2023 2022 2023 2022 North America $ 102,125 $ 82,638 $ 399,280 $ 477,338 Rest of world 15,605 11,150 43,123 40,430 Total revenue $ 117,730 $ 93,788 $ 442,403 $ 517,768 Three Months Ended September 30, Nine Months Ended September 30, Revenue by sales channel 2023 2022 2023 2022 Retail $ 91,764 $ 68,060 $ 359,726 $ 433,001 Direct to consumer 25,966 25,728 82,677 84,767 Total revenue $ 117,730 $ 93,788 $ 442,403 $ 517,768

ACCOUNTS RECEIVABLES, NET

ACCOUNTS RECEIVABLES, NET	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
ACCOUNTS RECEIVABLES, NET	Accounts receivable consists of the following (in thousands): September 30, December 31, Trade accounts receivable $ 63,509 $ 56,822 Allowance for expected credit losses (899) (867) Reserve for returns, discounts and allowances (11,614) (13,905) Total accounts receivable, net $ 50,996 $ 42,050

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES	Inventories consisted of the following (in thousands): September 30, December 31, Raw materials $ 6,655 $ 7,110 Work in process 9,078 12,155 Finished goods 86,158 134,206 Inventories $ 101,891 $ 153,471 Included within inventories are adjustments of $1.5 million and $1.3 million at September 30, 2023 and December 31, 2022, respectively, to record inventory to net realizable value.

ACCRUED EXPENSES

ACCRUED EXPENSES	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES	Accrued expenses consisted of the following (in thousands): September 30, December 31, Accrual for inventories in-transit $ 5,441 $ 7,987 Warranty accrual 7,171 7,368 Accrued compensation and bonus 5,730 4,499 Other 22,340 32,441 Accrued expenses $ 40,682 $ 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Warranty accrual, beginning of period $ 7,486 $ 8,647 $ 7,368 $ 8,326 Warranty claims (2,435) (2,239) (6,015) (6,327) Warranty costs accrued 2,120 877 5,818 5,286 Warranty accrual, end of period $ 7,171 $ 7,285 $ 7,171 $ 7,285

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 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. 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 total amount recorded in accumulated other comprehensive income ("AOCI") was $21.3 million and 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): September 30, December 31, Gross Asset Fair Value $ 24,246 $ 23,410 Gross Liability Fair Value — — Net Asset Fair Value $ 24,246 $ 23,410 For the three and nine months ended September 30, 2023, as a result of the discontinued cash flow hedge accounting treatment, realized and unrealized gains from the interest rate swap were recorded in other income (expense), net 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 and nine months ended September 30, 2022, realized losses and unrealized gains from the interest rate swap were recorded in interest expense and other comprehensive 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 September 30, 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 (expense), net within 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): September 30, December 31, Gross Asset Fair Value $ — $ — Gross Liability Fair Value 1,236 1,001 Net Fair Value $ 1,236 $ 1,001 Gains (losses) from foreign currency contracts were recorded in other income (expense), net within the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Realized losses $ (804) $ (964) $ (2,484) $ (250) Unrealized gains (losses) 410 (1,703) (279) (4,567) Total losses $ (394) $ (2,667) $ (2,763) $ (4,817)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	For 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 September 30, As of December 31, Assets: Derivative assets—interest rate swap contract (1) 2 $ 24,246 $ 23,410 Total assets $ 24,246 $ 23,410 Liabilities: Derivative liabilities—foreign currency contracts (2) 2 $ 1,236 $ 1,001 Contingent consideration—earn out (3) 3 10,810 22,747 Total liabilities $ 12,046 $ 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 September 30, 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 contract held with a financial institution is classified as a Level 2 financial instrument, which is 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Contingent consideration, beginning of period $ 13,110 $ 14,700 $ 22,747 $ 25,300 Payments of contingent consideration — — (12,445) (12,555) Change in fair value of contingent consideration (2,300) 1,820 508 3,775 Contingent consideration, end of period $ 10,810 $ 16,520 $ 10,810 $ 16,520 The following table reconciles the changes in fair value of contingent consideration and payments of contingent consideration to the accompanying condensed consolidated statement of cash flows and condensed consolidated statements of operations and comprehensive loss (in thousands): Nine Months Ended September 30, 2023 2022 Total payment of contingent consideration $ 12,445 $ 12,555 Less: amounts paid in excess of the acquisition date fair value of the contingent consideration (1) (220) (3,280) Acquisition date fair value of contingent consideration (2) $ 12,225 $ 9,275 Change in fair value of contingent consideration (3) $ 508 $ 3,775 Less: amounts paid in excess of the acquisition date fair value of the contingent consideration (1) (220) (3,280) Net change in fair value of contingent consideration (4) $ 288 $ 495 (1) Included in the change in fair value of contingent consideration as an operating activity in the accompanying condensed consolidated statement of cash flows. (2) Agrees to the payments of acquisition related contingent consideration as a financing activity within the accompanying condensed consolidated statement of cash flows. (3) Agrees to the change in fair value of contingent consideration in the accompanying condensed consolidated statement of operations and comprehensive loss. (4) Agrees to the change in fair value of contingent consideration as an operating activity in the accompanying condensed consolidated statement of cash flows. The following financial instruments are recorded at their carrying amount (in thousands): As of September 30, 2023 As of December 31, 2022 Financial Instruments Recorded at Carrying Amount: Carrying Estimated Carrying Estimated Liabilities: Debt—Credit Facilities (1) $ 403,883 $ 367,937 $ 476,070 $ 393,236 Total liabilities $ 403,883 $ 367,937 $ 476,070 $ 393,236 (1) Included in current portion of notes payable and notes payable, net of current portion within 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	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
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). Until June 2023, as described further below, the floating component was 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 September 30, 2023, the total principal amount outstanding on the First Lien Term Loan Facility was $403.9 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). Until June 2023, as described further below, the floating component was 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 September 30, 2023, the Company had no outstanding loan amounts under the Revolving Credit Facility. The First Lien Credit Agreement contains certain affirmative and negative covenants that limit the Company's ability to, among other things, incur additional indebtedness or liens (with certain exceptions), make certain investments, engage in fundamental changes or transactions including changes of control, transfer or dispose of certain assets, make restricted payments (including dividends), engage in new lines of business, make certain prepayments and engage in certain affiliate transactions. In addition, the Company is subject to a financial covenant and is required to maintain a First Lien Net Leverage Ratio (as defined in the First Lien Credit Agreement) not to exceed 6.20 to 1.00. As of September 30, 2023, the Company was in compliance with the covenants under the Credit Facilities. On August 9, 2022, the Company entered into a second amendment (the “Amendment”) to the First Lien Credit Agreement to provide for a “Covenant Amendment Period” (as defined therein) through and including the earlier of June 30, 2023 and the date on which the Company, in its sole discretion, delivers written notice to the Administrative Agent of the Company's election to end the Covenant Amendment Period. During that period, the Company's springing First Lien Net Leverage Ratio covenant will be increased from 6.20 : 1.00 to 8.50 : 1.00 and a minimum liquidity covenant of $35.0 million will be in effect. Liquidity will be calculated as the sum of cash on the Company's balance sheet, availability under the Revolving Credit Facility and availability under the Receivables Financing Agreement (as defined below), and the minimum liquidity covenant will be tested only if and when the Company requests borrowings under the Revolving Credit Facility. During the Covenant Amendment Period, the fixed dollar portion of the “Fixed Dollar Amount” definition shall decrease from $127.0 million to $102.0 million, and the use of certain restricted payments baskets will be reduced or eliminated entirely. The Covenant Amendment Period ended on June 30, 2023. In June 2023, the Company entered into a third amendment to the First Lien Credit Agreement which, amongst other things, implements certain changes in the reference rate from the Eurocurrency Base Rate to the Secured Overnight Financing Rate (as defined in the First Lien Credit Agreement). Accounts Receivable Credit Facility On November 2, 2020, the Company entered into a receivables financing agreement (as amended, the "Receivables Financing Agreement"). Through the Receivables Financing Agreement, the Company participates in a trade receivables securitization program, administered on its behalf by MUFG Bank Ltd. ("MUFG"), using outstanding accounts receivable balances as collateral, which have been contributed by the Company to its wholly owned subsidiary and special purpose entity, Traeger SPE LLC (the "SPE"). While the Company provides operational services to the SPE, the receivables are owned by the SPE once contributed to it by the Company. The Company is the primary beneficiary and holds all equity interests of the SPE, thus the Company consolidates the SPE without any significant judgments. On June 29, 2021, the Company entered into Amendment No. 1 to the Receivables Financing Agreement and increased the net borrowing capacity from the prior range of $30.0 million to $45.0 million up to $100.0 million. The borrowing capacity fluctuates at each month end based upon the amount of eligible outstanding domestic accounts receivables to be used as collateral. As of September 30, 2023, the Company had drawn down $25.0 million under this facility for general corporate and working capital purposes. The Company is required to pay an annual upfront fee for the facility, along with fixed interest on outstanding cash advances of 1.7%, a floating component based on the CP Rate (as defined in the Receivables Financing Agreement), and an unused capacity charge that ranges from 0.25% to 0.5%. The facility is set to terminate on June 29, 2024. As of September 30, 2023, the Company was in compliance with the covenants under the Receivables Financing Agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
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	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	The Traeger, Inc. 2021 Incentive Award Plan (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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 20 $ 34 $ 55 $ 185 Sales and marketing 1,386 603 3,068 3,012 General and administrative 4,795 52,616 44,057 77,490 Total stock-based compensation $ 6,201 $ 53,253 $ 47,180 $ 80,687 On July 20, 2021, the board of directors of the Company (the "Board") approved grants of restricted stock units ("RSUs") covering 12,163,242 shares of common stock that became effective in connection with the completion of the Company’s IPO, which include RSUs covering 7,782,957 shares granted to the Company's Chief Executive Officer ("CEO") and RSUs covering 4,380,285 shares granted to other employees, directors, and certain non-employees. CEO Awards The awards include a combination of time-based and performance-based awards. Specifically, time-based RSUs covering 2,594,319 shares ("RSU CEO Award") and performance-based RSUs ("PSUs") covering 5,188,638 shares ("PSU CEO Award") were granted to the CEO. Other IPO Awards The RSUs granted to other employees, directors, and certain non-employees, included 3,635,287 time-based RSUs ("IPO RSUs") and 744,998 performance-based RSUs ("IPO PSUs") granted to certain senior level executives of the Company. IPO RSUs The IPO RSUs vest based on certain time-based conditions set forth in the applicable award agreement. IPO RSUs granted to certain senior executives of the Company vest as to 50% of the underlying shares on each of the third and fourth anniversaries of the closing of the IPO, subject to continued employment with the Company or one of its subsidiaries. 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. 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 recognized $27.5 million of stock-based compensation expense during the nine months ended September 30, 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 or 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. For RSUs, PSUs, and Performance Shares, 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 and Performance Shares 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 nine months ended September 30, 2023 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 5,923,835 $ 6.73 Granted 4,587,718 4.05 Vested (1,988,337) 7.78 Forfeited (247,091) 7.75 Outstanding at September 30, 2023 8,276,125 $ 4.95 As of September 30, 2023, the Company had $33.5 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 period of 1.99 years. A summary of the performance-based restricted stock unit activity during the nine months ended September 30, 2023 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 4,714,242 $ 12.59 Modified (1,037,728) 15.13 Granted — — Vested — — Forfeited or cancelled (3,676,514) 11.87 Outstanding at September 30, 2023 — $ — As of September 30, 2023, the Com pany had no unrecognized stock-based compensation expense related to unvested performance-based units. A summary of the performance-based restricted share activity during the nine months ended September 30, 2023 was as follows: Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 — $ — Granted 1,037,728 15.58 Vested — — Forfeited — — Outstanding at September 30, 2023 1,037,728 $ 15.58 As of September 30, 2023, the Com pany had $5.1 million of unrecognized stock-based compensation expense related to unvested performance-based restricted shares that is expected to be recognized over a weighted-average period of 2.83 years.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	For the three months ended September 30, 2023 and 2022, the Company recorded income tax provision and benefit of $852,000 and $225,000, respectively. For the nine months ended September 30, 2023 and 2022, the Company recorded income tax provision and benefit of $1,214,000 and $27,000, respectively. The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, loss carryback and tax planning strategies. Generally, more weight is given to objectively verifiable evidence, such as the cumulative loss in recent years, as a significant piece of negative evidence to overcome. As of September 30, 2023, the Company's U.S. operations have resulted in losses, and as such, the Company maintains a valuation allowance against substantially all its U.S. deferred tax assets.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	The Company outsources a portion of its customer service and support through a third party who is an affiliate of the Company through common ownership. For the three months ended September 30, 2023 and 2022, the Company recorded expenses associated with such services of $1.7 million and $1.4 million, respectively. For the nine months ended September 30, 2023 and 2022, the Company recorded expenses associated with such services of $4.4 million and $5.0 million, respectively. Amounts payable to the third party as of September 30, 2023 and December 31, 2022 was $1.1 million and $0.4 million, respectively.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
EARNINGS (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 and performance shares 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net loss $ (19,261) $ (211,142) $ (60,357) $ (353,236) Weighted-average common shares outstanding—basic 124,053,643 119,924,371 123,265,134 118,682,379 Effect of dilutive securities: Restricted stock units and performance shares — — — — Weighted-average common shares outstanding—diluted 124,053,643 119,924,371 123,265,134 118,682,379 Earnings (loss) per share Basic and diluted $ (0.16) $ (1.76) $ (0.49) $ (2.98) The following table includes the number of units and shares 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Restricted stock units and performance shares 9,313,853 10,486,780 9,313,853 10,486,780

RESTRUCTURING PLAN

RESTRUCTURING PLAN	9 Months Ended
	Sep. 30, 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): Employee Related Costs Contract Exit Costs Balance at December 31, 2022 $ 135 $ 2,953 Net additions charged to expense — 225 Cash payments against reserve (135) (3,178) Balance at September 30, 2023 $ — $ —

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The balance sheet as of December 31, 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 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 and nine months ended September 30, 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 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 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 and nine months ended September 30, 2023 are not necessarily indicative of results that may be expected for any other interim period or for the year ended December 31, 2023.
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.
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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer A 14 % 14 % 18 % 15 % Customer B 20 % 5 % 18 % 18 % Customer C 8 % 17 % 12 % 17 % As of September 30, 2023, customers A, B, C, and D accounted for a significant portion of trade accounts receivable of 18%, 28%, 5%, and 13% compared to 31%, 20%, 8%, and 4% as of December 31, 2022. Concentrations of credit risk exist to the extent credit terms are extended with these four large customers. A business failure on the part of any one of the four customers could result in a material amount of exposure to the Company. No other single customer accounted for greater than 10% of the Company’s net sales for the three and nine months ended September 30, 2023 and 2022, respectively. Additionally, no other single customer accounted for greater than 10% of trade accounts receivable as of September 30, 2023 or 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.
Recently Issued Accounting Standards	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.In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU is intended to ease the potential accounting and financial reporting burden of reference rate reform, including the expected market transition from the London Interbank Offering Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The guidance provides optional expedients and scope exceptions for transactions if certain criteria are met. These transactions include contract modifications, hedge accounting, and the sale or transfer of debt securities classified as held-to-maturity. The Company adopted this ASU in the second quarter of 2023. Adoption of this new standard did not have a material impact on the Company's consolidated financial statements and related disclosures.
Fair Value Measurements	For 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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer A 14 % 14 % 18 % 15 % Customer B 20 % 5 % 18 % 18 % Customer C 8 % 17 % 12 % 17 %

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables disaggregates revenue by product category, geography, and sales channel for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Revenue by product category 2023 2022 2023 2022 Grills $ 56,573 $ 38,994 $ 239,444 $ 307,105 Consumables 25,385 25,151 90,330 106,899 Accessories 35,772 29,643 112,629 103,764 Total revenue $ 117,730 $ 93,788 $ 442,403 $ 517,768 Three Months Ended September 30, Nine Months Ended September 30, Revenue by geography 2023 2022 2023 2022 North America $ 102,125 $ 82,638 $ 399,280 $ 477,338 Rest of world 15,605 11,150 43,123 40,430 Total revenue $ 117,730 $ 93,788 $ 442,403 $ 517,768 Three Months Ended September 30, Nine Months Ended September 30, Revenue by sales channel 2023 2022 2023 2022 Retail $ 91,764 $ 68,060 $ 359,726 $ 433,001 Direct to consumer 25,966 25,728 82,677 84,767 Total revenue $ 117,730 $ 93,788 $ 442,403 $ 517,768

ACCOUNTS RECEIVABLES, NET (Tabl

ACCOUNTS RECEIVABLES, NET (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consists of the following (in thousands): September 30, December 31, Trade accounts receivable $ 63,509 $ 56,822 Allowance for expected credit losses (899) (867) Reserve for returns, discounts and allowances (11,614) (13,905) Total accounts receivable, net $ 50,996 $ 42,050

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): September 30, December 31, Raw materials $ 6,655 $ 7,110 Work in process 9,078 12,155 Finished goods 86,158 134,206 Inventories $ 101,891 $ 153,471

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): September 30, December 31, Accrual for inventories in-transit $ 5,441 $ 7,987 Warranty accrual 7,171 7,368 Accrued compensation and bonus 5,730 4,499 Other 22,340 32,441 Accrued expenses $ 40,682 $ 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Warranty accrual, beginning of period $ 7,486 $ 8,647 $ 7,368 $ 8,326 Warranty claims (2,435) (2,239) (6,015) (6,327) Warranty costs accrued 2,120 877 5,818 5,286 Warranty accrual, end of period $ 7,171 $ 7,285 $ 7,171 $ 7,285

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The gross and net balances from the interest rate swap contract position were as follows (in thousands): September 30, December 31, Gross Asset Fair Value $ 24,246 $ 23,410 Gross Liability Fair Value — — Net Asset Fair Value $ 24,246 $ 23,410
Schedule of Foreign Exchange Contracts	The gross and net balances from foreign currency contract positions were as follows (in thousands): September 30, December 31, Gross Asset Fair Value $ — $ — Gross Liability Fair Value 1,236 1,001 Net Fair Value $ 1,236 $ 1,001
Schedule of Gain (Loss) from Foreign Currency Contracts	Gains (losses) from foreign currency contracts were recorded in other income (expense), net within the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Realized losses $ (804) $ (964) $ (2,484) $ (250) Unrealized gains (losses) 410 (1,703) (279) (4,567) Total losses $ (394) $ (2,667) $ (2,763) $ (4,817)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 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 September 30, As of December 31, Assets: Derivative assets—interest rate swap contract (1) 2 $ 24,246 $ 23,410 Total assets $ 24,246 $ 23,410 Liabilities: Derivative liabilities—foreign currency contracts (2) 2 $ 1,236 $ 1,001 Contingent consideration—earn out (3) 3 10,810 22,747 Total liabilities $ 12,046 $ 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Contingent consideration, beginning of period $ 13,110 $ 14,700 $ 22,747 $ 25,300 Payments of contingent consideration — — (12,445) (12,555) Change in fair value of contingent consideration (2,300) 1,820 508 3,775 Contingent consideration, end of period $ 10,810 $ 16,520 $ 10,810 $ 16,520
Schedule of Changes in Fair Value of Contingent Consideration	The following table reconciles the changes in fair value of contingent consideration and payments of contingent consideration to the accompanying condensed consolidated statement of cash flows and condensed consolidated statements of operations and comprehensive loss (in thousands): Nine Months Ended September 30, 2023 2022 Total payment of contingent consideration $ 12,445 $ 12,555 Less: amounts paid in excess of the acquisition date fair value of the contingent consideration (1) (220) (3,280) Acquisition date fair value of contingent consideration (2) $ 12,225 $ 9,275 Change in fair value of contingent consideration (3) $ 508 $ 3,775 Less: amounts paid in excess of the acquisition date fair value of the contingent consideration (1) (220) (3,280) Net change in fair value of contingent consideration (4) $ 288 $ 495 (1) Included in the change in fair value of contingent consideration as an operating activity in the accompanying condensed consolidated statement of cash flows. (2) Agrees to the payments of acquisition related contingent consideration as a financing activity within the accompanying condensed consolidated statement of cash flows. (3) Agrees to the change in fair value of contingent consideration in the accompanying condensed consolidated statement of operations and comprehensive loss. (4) Agrees to the change in fair value of contingent consideration as an operating activity in the accompanying condensed consolidated statement of cash flows.
Schedule of Financial Instruments Recorded at Carrying Amount	The following financial instruments are recorded at their carrying amount (in thousands): As of September 30, 2023 As of December 31, 2022 Financial Instruments Recorded at Carrying Amount: Carrying Estimated Carrying Estimated Liabilities: Debt—Credit Facilities (1) $ 403,883 $ 367,937 $ 476,070 $ 393,236 Total liabilities $ 403,883 $ 367,937 $ 476,070 $ 393,236 (1) Included in current portion of notes payable and notes payable, net of current portion within 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)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 20 $ 34 $ 55 $ 185 Sales and marketing 1,386 603 3,068 3,012 General and administrative 4,795 52,616 44,057 77,490 Total stock-based compensation $ 6,201 $ 53,253 $ 47,180 $ 80,687
Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option	A summary of the time-based restricted stock unit activity during the nine months ended September 30, 2023 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 5,923,835 $ 6.73 Granted 4,587,718 4.05 Vested (1,988,337) 7.78 Forfeited (247,091) 7.75 Outstanding at September 30, 2023 8,276,125 $ 4.95 A summary of the performance-based restricted stock unit activity during the nine months ended September 30, 2023 was as follows: Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 4,714,242 $ 12.59 Modified (1,037,728) 15.13 Granted — — Vested — — Forfeited or cancelled (3,676,514) 11.87 Outstanding at September 30, 2023 — $ — A summary of the performance-based restricted share activity during the nine months ended September 30, 2023 was as follows: Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2022 — $ — Granted 1,037,728 15.58 Vested — — Forfeited — — Outstanding at September 30, 2023 1,037,728 $ 15.58

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net loss $ (19,261) $ (211,142) $ (60,357) $ (353,236) Weighted-average common shares outstanding—basic 124,053,643 119,924,371 123,265,134 118,682,379 Effect of dilutive securities: Restricted stock units and performance shares — — — — Weighted-average common shares outstanding—diluted 124,053,643 119,924,371 123,265,134 118,682,379 Earnings (loss) per share Basic and diluted $ (0.16) $ (1.76) $ (0.49) $ (2.98)
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings (loss) Per Share	The following table includes the number of units and shares 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Restricted stock units and performance shares 9,313,853 10,486,780 9,313,853 10,486,780

RESTRUCTURING PLAN (Tables)

RESTRUCTURING PLAN (Tables)	9 Months Ended
	Sep. 30, 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 — 225 Cash payments against reserve (135) (3,178) Balance at September 30, 2023 $ — $ —

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Customer Concentration Risk	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer, Product and Service Benchmark | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	14%		14%	18%	15%
Revenue from Contract with Customer, Product and Service Benchmark | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	20%		5%	18%	18%
Revenue from Contract with Customer, Product and Service Benchmark | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	8%		17%	12%	17%
Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk percentage		31%		18%
Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk percentage		20%		28%
Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk percentage		8%		5%
Accounts Receivable | Customer D
Concentration Risk [Line Items]
Concentration risk percentage		4%		13%

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 117,730	$ 93,788	$ 442,403	$ 517,768
Retail
Disaggregation of Revenue [Line Items]
Total revenue	91,764	68,060	359,726	433,001
Direct to consumer
Disaggregation of Revenue [Line Items]
Total revenue	25,966	25,728	82,677	84,767
North America
Disaggregation of Revenue [Line Items]
Total revenue	102,125	82,638	399,280	477,338
Rest of world
Disaggregation of Revenue [Line Items]
Total revenue	15,605	11,150	43,123	40,430
Grills
Disaggregation of Revenue [Line Items]
Total revenue	56,573	38,994	239,444	307,105
Consumables
Disaggregation of Revenue [Line Items]
Total revenue	25,385	25,151	90,330	106,899
Accessories
Disaggregation of Revenue [Line Items]
Total revenue	$ 35,772	$ 29,643	$ 112,629	$ 103,764

ACCOUNTS RECEIVABLES, NET (Deta

ACCOUNTS RECEIVABLES, NET (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade accounts receivable	$ 63,509	$ 56,822
Allowance for expected credit losses	(899)	(867)
Reserve for returns, discounts and allowances	(11,614)	(13,905)
Total accounts receivable, net	$ 50,996	$ 42,050

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 6,655	$ 7,110
Work in process	9,078	12,155
Finished goods	86,158	134,206
Inventories	101,891	153,471
Inventory adjustments	$ 1,500	$ 1,300

ACCRUED EXPENSES - Schedule of

ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrual for inventories in-transit	$ 5,441		$ 7,987
Warranty accrual	7,171	$ 7,486	7,368	$ 7,285	$ 8,647	$ 8,326
Accrued compensation and bonus	5,730		4,499
Other	22,340		32,441
Accrued expenses	$ 40,682		$ 52,295

ACCRUED EXPENSES - Change in Wa

ACCRUED EXPENSES - Change in Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Warranty accrual, beginning of period	$ 7,486	$ 8,647	$ 7,368	$ 8,326
Warranty claims	(2,435)	(2,239)	(6,015)	(6,327)
Warranty costs accrued	2,120	877	5,818	5,286
Warranty accrual, end of period	$ 7,171	$ 7,285	$ 7,171	$ 7,285

DERIVATIVES - Narratives (Detai

DERIVATIVES - Narratives (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jan. 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	$ 24,246		$ 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) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Cash Flow Hedging | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Net Fair Value	$ 24,246	$ 23,410

DERIVATIVES - Summary of Gros_2

DERIVATIVES - Summary of Gross and Net Fair Value of Foreign Currency Contracts (Details) - Foreign currency contract - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Gross Asset Fair Value	$ 0	$ 0
Gross Liability Fair Value	1,236	1,001
Net Fair Value	$ 1,236	$ 1,001

DERIVATIVES - Summary of Gains

DERIVATIVES - Summary of Gains (Losses) from Foreign Currency Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Realized losses	$ (804)	$ (964)	$ (2,484)	$ (250)
Unrealized gains (losses)	410	(1,703)	(279)	(4,567)
Total losses	$ (394)	$ (2,667)	$ (2,763)	$ (4,817)

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Level 2 | Interest rate contract
Liabilities:
Derivative liability	$ 0	$ 0
Fair Value, Recurring
Assets:
Total assets	24,246	23,410
Liabilities:
Total liabilities	12,046	23,748
Fair Value, Recurring | Level 2 | Interest rate contract
Assets:
Derivative asset	24,246	23,410
Fair Value, Recurring | Level 2 | Foreign currency contract
Liabilities:
Derivative liability	1,236	1,001
Fair Value, Recurring | Level 3
Liabilities:
Contingent consideration—earn out (3)	$ 10,810	$ 22,747

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2023	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Payment for Contingent Consideration Liability, Investing Activities	$ 12.4
Apption Labs Limited, Earn Out Period Two
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business Combination, Contingent Consideration, Undiscounted Liability		$ 15

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Fair value Consideration Payments (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 13,110	$ 14,700	$ 22,747	$ 25,300
Payments of contingent consideration	0	0	(12,445)	(12,555)
Change in fair value of contingent consideration	(2,300)	1,820	508	3,775
Ending balance	$ 10,810	$ 16,520	$ 10,810	$ 16,520

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of Changes in Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Total payment of contingent consideration			$ 12,445	$ 12,555
Amounts paid in excess of the acquisition date fair value of the contingent consideration			(220)	(3,280)
Payments of acquisition related contingent consideration			12,225	9,275
Change in fair value of contingent consideration	$ (2,300)	$ 1,820	508	3,775
Amounts paid in excess of the acquisition date fair value of the contingent consideration			(220)	(3,280)
Change in fair value of contingent consideration			$ 288	$ 495

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Reported at Carrying Amount (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities	$ 403,883	$ 476,070
Carrying Amount | First Lein Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	403,883	476,070
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities	367,937	393,236
Estimated Fair Value | Level 3 | First Lein Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 367,937	$ 393,236

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Details) - USD ($)			3 Months Ended
	Nov. 08, 2023	Jun. 29, 2021	Mar. 31, 2023	Nov. 07, 2023	Sep. 30, 2023	Aug. 09, 2022	Jul. 31, 2021	Jun. 28, 2021
Delayed Draw Term Loan
Debt Instrument [Line Items]
Proceeds from Issuance of Long-Term Debt			$ 25,000,000
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					$ 403,900,000
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
First Lein Term Loan Facility | Line of Credit | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Fixed interest rate							2.75%
Unused capacity percentage		0.25%
First Lein Term Loan Facility | Line of Credit | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Fixed interest rate							3.25%
Unused capacity percentage		0.50%
First Lein Term Loan Facility | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 15,000,000
Accounts Receivable Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		100,000,000
Outstanding principal balance		$ 25,000,000
Accounts Receivable Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000			$ 100,000,000
Upfront fee percentage	2.50%
Term extension	1 year
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 | Minimum | Subsequent Event
Debt Instrument [Line Items]
Unused capacity percentage	0.25%
Maximum borrowing capacity seasonal amount thresholds, Company discretion	$ 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
Accounts Receivable Credit Facility | Line of Credit | Maximum | Subsequent Event
Debt Instrument [Line Items]
Unused capacity percentage	0.50%
Maximum borrowing capacity seasonal amount thresholds, Company discretion	$ 75,000,000

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		9 Months Ended
	Apr. 13, 2023	Aug. 31, 2022	Jul. 20, 2021	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Jan. 01, 2022
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)				19,983,145		19,983,145
Number of additional shares available for grant (in shares)							6,131,220
Share-based arrangement, maximum authorized units (in shares)				100,000,000		100,000,000
Stock-based compensation expense				$ 27,500		$ 27,500
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation expense					$ 39,400
Restricted stock units and performance shares
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 and performance shares | 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
Accelerated vesting (in shares)		2,075,455
Restricted stock units and performance shares | 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 and performance shares | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer | Vesting Tranche, One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage			50%
Restricted stock units and performance shares | Employees, Directors And Certain Non-Employees, Excluding Chief Executive Officer | Vesting Tranche, Two
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]
Granted (in shares)						4,587,718
Unrecognized stock based compensation expense				33,500		$ 33,500
Share-based payment arrangement, unrecognized compensation, weighted average period (in years)						1 year 11 months 26 days
Time-Based Restricted Stock Units | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based arrangement, maximum authorized units (in shares)			2,594,319
Time-Based Restricted Stock Units | 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]
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
Performance-Based Restricted Stock Units | Chief Executive Officer | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,037,728
Stock price goal (in dollars per share)	$ 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
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						1,037,728
Unrecognized stock based compensation expense				$ 5,100		$ 5,100
Share-based payment arrangement, unrecognized compensation, weighted average period (in years)						2 years 9 months 29 days
Performance Shares | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting (in shares)		518,864

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Equity-based Compensation, Expensed and Capitalized Amount (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	$ 6,201	$ 53,253	$ 47,180	$ 80,687
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	20	34	55	185
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	1,386	603	3,068	3,012
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based arrangement, compensation expense	$ 4,795	$ 52,616	$ 44,057	$ 77,490

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Unit Activity (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Time-Based Restricted Stock Units
Stock Appreciation Rights Activity
Outstanding at December 31, 2021 (in shares) | shares	5,923,835
Granted (in shares) | shares	4,587,718
Vested (in shares) | shares	(1,988,337)
Forfeited (in shares) | shares	(247,091)
Outstanding at March 31, 2021 (in shares) | shares	8,276,125
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	4.05
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	7.78
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	7.75
Outstanding, Weighted average grant date fair value at March 31, 2021 (in dollars per share) | $ / shares	$ 4.95
Performance-Based Restricted Stock Units
Stock Appreciation Rights Activity
Outstanding at December 31, 2021 (in shares) | shares	4,714,242
Modified (in shares) | shares	(1,037,728)
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(3,676,514)
Outstanding at March 31, 2021 (in shares) | shares	0
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value at December 30, 2021 (in dollars per share) | $ / shares	$ 12.59
Modified, Weighted average grant date fair value (in dollars per share) | $ / shares	15.13
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	0
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	0
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	11.87
Outstanding, Weighted average grant date fair value at March 31, 2021 (in dollars per share) | $ / shares	$ 0
Restricted Stock
Stock Appreciation Rights Activity
Outstanding at December 31, 2021 (in shares) | shares	0
Granted (in shares) | shares	1,037,728
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Outstanding at March 31, 2021 (in shares) | shares	1,037,728
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value at December 30, 2021 (in dollars per share) | $ / shares	$ 0
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	15.58
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	$ 15.58

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ 852	$ (225)	$ 1,214	$ (27)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Amount payable to third party	$ 26,028		$ 26,028		$ 29,841
Affiliated Entity | Customer Service and Support, Charges
Related Party Transaction [Line Items]
Related party transaction expenses	1,700	$ 1,400	4,400	$ 5,000
Affiliated Entity | Customer Service and Support
Related Party Transaction [Line Items]
Amount payable to third party	$ 1,100		$ 1,100		$ 400

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (19,261)	$ (211,142)	$ (60,357)	$ (353,236)
Weighted average common shares outstanding - basic (in shares)	124,053,643	119,924,371	123,265,134	118,682,379
Effect of dilutive securities:
Restricted stock (in shares)	0	0	0	0
Weighted average common shares outstanding - diluted (in shares)	124,053,643	119,924,371	123,265,134	118,682,379
Earnings Per Share, Basic and Diluted
Earnings (loss) per share - basic (in dollars per share)	$ (0.16)	$ (1.76)	$ (0.49)	$ (2.98)
Earnings (loss) per share - diluted (in dollars per share)	$ (0.16)	$ (1.76)	$ (0.49)	$ (2.98)

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restricted stock units and performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	9,313,853	10,486,780	9,313,853	10,486,780

RESTRUCTURING PLAN (Details)

RESTRUCTURING PLAN (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jul. 31, 2022	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent	14%
Employee Related Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve beginning balance		$ 135
Net additions charged to expense		0
Cash payments against reserve		135
Restructuring reserve ending balance		0
Contract Exit Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve beginning balance		2,953
Net additions charged to expense		225
Cash payments against reserve		3,178
Restructuring reserve ending balance		$ 0

Uncategorized Items - tra-20230

Label	Element	Value
Income Taxes Paid	us-gaap_IncomeTaxesPaid	$ 2,250,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	us-gaap_InterestPaidNet	18,403,000
Lease Obligation Incurred	us-gaap_CapitalLeaseObligationsIncurred	952,000
Capital Expenditures Incurred but Not yet Paid	us-gaap_CapitalExpendituresIncurredButNotYetPaid	$ 15,512,000