Lazydays announces 1-for-30 reverse stock split to regain Nasdaq compliance

TAMPA - Lazydays Holdings, Inc. (NASDAQ:GORV), currently trading at $0.25 with a market capitalization of approximately $28 million, announced Thursday that its Board of Directors has approved a 1-for-30 reverse stock split of the company’s common stock, effective July 11, 2025, at 5:00 p.m. Eastern time.

The recreational vehicle retailer’s shares are expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market when markets open on July 14, under the same "GORV" symbol but with a new CUSIP number. The stock has faced significant challenges, having declined over 90% in the past year. InvestingPro data shows the company’s shares trading at just 0.35 times book value, suggesting potential undervaluation despite operational challenges.

Stockholders had previously authorized the reverse split at the company’s Annual Meeting on July 3, approving a ratio of between 1-for-2 and 1-for-30, with the final ratio determined by the Board.

According to the company, the primary purpose of the reverse split is to increase Lazydays’ per-share market price to regain compliance with Nasdaq’s minimum bid price requirement for continued listing. InvestingPro analysis reveals concerning fundamentals, including negative EBITDA of -$22.9 million and a high debt-to-equity ratio of 4.36, highlighting the company’s financial challenges. Subscribers can access 8 additional key ProTips about GORV’s financial health.

"This strategic initiative reflects our commitment to the long-term strength and stability of Lazydays," said Ron Fleming, CEO of Lazydays, in the press release statement.

The reverse split will automatically combine every 30 shares into one new share, with fractional shares rounded up to the nearest whole number. The split will not alter stockholders’ percentage ownership in the company except for minimal changes due to the rounding of fractional shares.

Stockholders holding shares electronically in book-entry form or in brokerage accounts will have their positions automatically adjusted. Certificate holders will receive instructions from the company’s transfer agent, Continental Stock Transfer & Trust Company.

Lazydays, founded in 1976, has been a prominent player in the RV industry providing sales, service and ownership experiences. Despite generating revenue of $767 million in the last twelve months, the company faces profitability challenges with analysts forecasting continued losses this year, according to InvestingPro data.

In other recent news, Lazydays Holdings, Inc. reported a narrower first-quarter net loss of $9.5 million, or $0.09 per share, compared to $22.0 million, or $1.67 per share, in the previous year. Despite a year-over-year revenue decline to $165.8 million from $270.1 million, the revenue exceeded analyst estimates. The company has made significant strides in its turnaround plan, achieving improved gross profit margins across all product lines. Lazydays also completed the divestiture of five dealership locations, reducing its debt by approximately $145 million. In leadership updates, Ron Fleming has been appointed as the permanent CEO after serving in an interim capacity since September 2024. The company also appointed Kyle Richter as Chief Administrative Officer, bringing extensive experience in financial and operational consulting. Concurrently, Lazydays announced the resignations of directors Jordan Gnat and Suzanne Tager, with no immediate plans to fill these vacancies. Additionally, Lazydays executed amendments with its credit facility lenders, retaining $14 million from divestitures to enhance liquidity and reduce non-floorplan debt to about $44 million.

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