0001558370-25-002212 | 10-K | XBRL Viewer

Print Document

Inventories, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 49,322	$ 55,081
Finished goods	27,779	42,056
Inventory, net, Total	$ 77,101	$ 97,137

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of domestic and foreign components of its income (loss) before income taxes

The Company is subject to United States federal, state, and local income taxes, as well as other foreign income taxes. The domestic and foreign components of its (loss) income before income taxes are as follows (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
(Loss) income before income taxes:
Domestic	$	559	$	(16,303)	$	2,574
Foreign		(9,299)		6,243		11,147
Total	$	(8,740)	$	(10,060)	$	13,721

Schedule of current and deferred income tax (benefit) expense

Current and deferred income tax expense (benefit) is composed of the following (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Current income tax expense:
Domestic	$	10,254	$	1,225	$	22,133
Foreign		544		788		1,084
Total current tax expense		10,798		2,013		23,217
Deferred income tax (benefit) expense:
Domestic		(8,303)		(9,965)		(6,020)
Foreign		6,625		280		2,218
Total deferred tax (benefit)		(1,678)		(9,685)		(3,802)
Total income tax expense (benefit)	$	9,120	$	(7,672)	$	19,415

Schedule of reconciliation of statutory federal income tax rate with Company's effective income tax rate

The reconciliation of the statutory federal income tax rate with the Company’s effective income tax rate is as follows (% of Loss Before Income Taxes):


	Year Ended		Year Ended		Year Ended
	December 31, 2024		December 31, 2023		December 31, 2022
Federal statutory tax rate	21.0	%	21.0	%	21.0	%
Foreign rate differential	5.7	%	(5.6)	%	4.1	%
State income tax, net of federal benefit	(16.8)	%	14.0	%	14.0	%
Uncertain tax positions	—	%	101.7	%	2.1	%
Change in valuation allowance	(99.6)	%	(30.9)	%	—	%
Transaction costs not deductible for tax	—	%	—	%	18.8	%
Other non-deductible expense	—	%	(6.8)	%	—	%
Non-deductible stock compensation	(0.4)	%	(24.1)	%	67.3	%
Canadian branch income	10.1	%	1.3	%	8.8	%
Foreign tax restructuring	(16.0)	%	21.3	%	—	%
Other permanent items	(8.4)	%	(15.7)	%	5.4	%
	(104.4)	%	76.2	%	141.5	%

Schedule of changes in valuation allowance

The following table summarizes changes in the valuation allowance (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Balance at January 1	$	3,114	$	—	$	—
Additions		8,700		3,114		—
Deductions		(3,114)		—		—
Balance at December 31	$	8,700	$	3,114	$	—

Schedule of deferred income tax assets and liabilities

Deferred income tax assets and liabilities recorded on the consolidated balance sheets as of December 31, 2024 and 2023 consist of the following (in thousands):


	December 31,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	10,001	$	6,715
Capital loss carryforwards		—		3,114
Inventories, net		3,082		3,234
Warranty reserve		469		595
Trade receivables		1,375		1,737
Profits interest units		3,437		2,581
Section 163(j)		4,902		2,345
Accrued expenses		350		509
Transaction costs		1,180		1,052
Future branch taxes		—		(1,691)
Operating lease liabilities		6,968		—
Other		2,276		2,082
Gross deferred tax assets		34,040		22,273
Valuation allowance		(8,700)		(3,114)
Total deferred tax asset		25,340		19,159
Less: Foreign deferred tax benefit		(729)		(7,485)
Total domestic deferred tax asset		24,611		11,674
Deferred tax liabilities:
Intangible assets		(42,702)		(45,150)
Property and equipment, net		(6,056)		(5,656)
Prepaid expenses and other		(1,165)		(644)
Investments in partnerships		(318)		(312)
Operating lease right-of-use assets		(6,717)		—
Total deferred tax liabilities		(56,958)		(51,762)
Net deferred tax liabilities	$	(32,347)	$	(40,088)

Schedule of reconciliation of beginning and ending amount of uncertain tax positions

The following is a reconciliation of the beginning and ending amount of uncertain tax positions (in thousands):


	Year Ended
	December 31,
	2024		2023
Balance at the beginning of the year	$	—	$	10,303
Gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during a prior period		—		379
Gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during the current period		—		—
The amounts of decreases in the unrecognized tax benefits relating to settlements with taxing authorities		—		—
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		—		(10,682)
Balance at the end of the year	$	—	$	—

Net Sales (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Summary of disaggregation of net sales by product line

The following table sets forth the Company’s disaggregation of net sales by product line (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
In-ground Swimming Pools	$	259,214	$	297,828	$	385,467
Covers		131,335		140,949		158,449
Liners		117,971		127,715		151,820
	$	508,520	$	566,492	$	695,736

Fair Value Measurements

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

5.FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value.

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs, other than quoted prices in active markets, that are observable either directly or indirectly.

Level 3 — Unobservable inputs that reflect the Company’s own assumptions incorporated into valuation techniques. These valuations require significant judgment.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. When there is more than one input at different levels within the hierarchy, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Assessment of the significance of a particular input to the fair value measurement in its entirety requires substantial judgment and consideration of factors specific to the asset or liability. Level 3 inputs are inherently difficult to estimate. Changes to these inputs can have significant impact on fair value measurements. Assets and liabilities measured at fair value using Level 3 inputs are based on one or more of the following valuation techniques: market approach, income approach or cost approach. There were no transfers between fair value measurement levels during the years ended December 31, 2024 and December 31, 2023.

Assets and liabilities measured at fair value on a nonrecurring basis

The Company’s non-financial assets such as goodwill, intangible assets and property and equipment are measured at fair value upon acquisition and remeasured to fair value when an impairment charge is recognized. Such fair value measurements are based predominantly on Level 2 and Level 3 inputs.

Fair value of financial instruments

The Company considers the carrying amounts of cash, trade receivables, prepaid expenses and other current assets, accounts payable, and accrued expenses and other current liabilities, to approximate fair value because of the short-term maturities of these instruments.

Term loans

Term loans are carried at amortized cost; however, the Company estimates the fair value of term loans for disclosure purposes. The fair value of a term loan is determined using inputs based on observable market data of a non-public exchange, which are classified as Level 2 inputs. The following table sets forth the carrying amount and fair value of the term loans (in thousands):


	December 31,
	2024				2023
	Carrying		Estimated		Carrying		Estimated
	Value		Fair Value		Value		Fair Value
Term Loan	$	281,521	$	276,946	$	301,201	$	289,153

Interest rate swap

The Company estimates the fair value of the interest rate swap on a quarterly basis using Level 2 inputs, including the forward SOFR curve. The fair value is estimated by comparing (i) the present value of all future monthly fixed rate payments versus (ii) the variable payments based on the forward SOFR curve. As of December 31, 2024 and 2023, the Company’s interest rate swap was a liability of $0.4 million and $1.2 million, respectively, which was recorded within other long-term liabilities on the consolidated balance sheets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023	Jan. 11, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	115,764,839	114,871,782
Common stock, shares outstanding	115,764,839	114,871,782

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income (loss)	$ (17,860)	$ (2,388)	$ (5,694)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	44,446	40,751	38,175
Gain on insurance proceeds received for capital	0	(1,463)	0
Unrealized foreign currency loss (gains)	6,223	(110)	2,534
Amortization of deferred financing costs and debt discount	1,720	1,720	1,570
Non-cash lease expense	7,111	7,675	7,400
Change in fair value of interest rate swaps	(808)	4,729	(2,984)
Deferred income taxes	(1,678)	(9,685)	(3,802)
Stock-based compensation expense	7,392	18,804	50,634
Underwriting fees related to offering of common stock	0	0	11,437
Loss on extinguishment of debt	0	0	3,465
Bad debt expense	2,069	5,379	2,011
Other non-cash, net	1,115	16	1,454
Earnings from equity method investment	(4,060)	(3,723)	(4,230)
Distributions received from equity method investment	5,109	2,878	2,497
Provision on liability for uncertain tax positions	0	(7,503)	1,434
Increase (Decrease) in Operating Capital
Trade receivables	(2,378)	13,040	8,992
Inventories	22,695	68,190	(57,034)
Prepaid expenses and other current assets	(1,992)	(1,326)	4,722
Income tax receivable	(2,981)	1,333	1,723
Other assets	1,263	(4,346)	(466)
Accounts payable	(4,039)	(8,512)	(12,358)
Accrued expenses and other current liabilities	(1,329)	(11,938)	(19,420)
Other long-term liabilities	(711)	2,848	249
Net cash used in operating activities	61,307	116,369	32,309
Cash flows from investing activities:
Purchases of property and equipment	(20,116)	(33,189)	(39,684)
Capital reimbursed from insurance proceeds	0	1,463	0
Proceeds from the sale of property and equipment	0	0	24
Acquisition of business, net of cash acquired	(64,527)	0	(5,358)
Net cash used in investing activities	(84,643)	(31,726)	(45,018)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from long-term debt borrowings	0	0	320,125
Payments on long-term debt borrowings	(21,250)	(13,250)	(286,447)
Proceeds from borrowings on revolving credit facility	0	48,000	25,000
Payments on revolving credit facilities	0	(48,000)	(25,000)
Deferred financing fees paid	0	0	(6,865)
Proceeds from the issuance of common stock	0	0	257,663
Repayments of finance lease obligations	(771)	(625)	0
Repurchase and retirement of common stock	0	0	(280,701)
Net cash used in financing activities	(22,021)	(13,875)	3,775
Effect of exchange rate changes on cash	(1,008)	(631)	(2,392)
Net (decrease) increase in cash	(46,365)	70,137	(11,326)
Cash at beginning of period	102,763	32,626	43,952
Cash at end of period	56,398	102,763	32,626
Supplemental cash flow information:
Cash paid for interest	24,894	25,747	12,621
Income taxes paid, net	15,475	6,990	20,313
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	510	955	6,029
Capitalized internal-use software included in accounts payable - related party	0	0	350
Right-of-use operating and finance lease assets obtained in exchange for lease liabilities	$ 5,426	$ 6,193	$ 46,244

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (17,860)	$ (2,388)	$ (5,694)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Long-Term Debt - Principal payments due (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Long-Term Debt, Fiscal Year Maturity [Abstract]
2025	$ 3,250
2026	3,250
2027	3,250
2028	3,250
2029	275,063
Total payments due	$ 288,063

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

12.LEASES

The Company leases vehicles, manufacturing facilities, office space, land, and equipment under operating leases. As of December 31, 2024, our operating leases substantially have remaining terms of one year to eleven years, some of which include options to extend and/or terminate the leases. The Company does not have material finance leases.

The components of lease expense for the years ended December 31, 2024 and 2023 were as follows (in thousands):


	Year Ended
	December 31, 2024		December 31, 2023
Operating lease expense	$	8,613	$	9,350
Finance lease amortization of assets		848		679
Finance lease interest on lease liabilities		316		296
Short-term lease expense		433		319
Variable lease expense		562		1,180
Total lease expense	$	10,772	$	11,824

Operating and finance lease right of use assets and lease-related liabilities as of December 31, 2024 and 2023 were as follows (in thousands):


	December 31, 2024		December 31, 2023		Classification

Lease right-of-use assets:
Operating leases	$	28,259	$	30,788	Operating lease right-of-use assets
Finance leases		3,261		3,912	Other assets
Total lease right-of-use assets	$	31,520	$	34,700

Lease-related liabilities
Current
Operating leases	$	7,176	$	7,133	Current operating lease liabilities
Finance leases		779		746	Accrued expenses and other current liabilities
Non-current
Operating leases		22,138		24,787	Non-current operating lease liabilities
Finance leases		2,678		3,285	Other long-term liabilities
Total lease liabilities	$	32,771	$	35,951

The table below presents supplemental information related to leases as of December 31, 2024 and 2023:


	December 31, 2024			December 31, 2023
Weighted-average remaining lease term (years)
Finance leases		4.4			5.2
Operating leases		5.3			5.7
Weighted-average discount rate
Finance leases		8.2	%		8.2	%
Operating leases		5.4	%		5.1	%

The table below presents supplemental information related to the cash flows for operating leases recorded on the consolidated statements of cash flows (in thousands):


	Year Ended
	December 31, 2024		December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	7,134	$	7,551

The following table summarizes fiscal year maturities of operating lease liabilities as of the year ended December 31, 2024 (in thousands):


	Operating Leases		Finance Leases		Total
2025	$	8,552	$	1,032	$	9,584
2026		7,024		936		7,960
2027		5,244		860		6,104
2028		3,818		848		4,666
2029		3,172		364		3,536
Thereafter		6,030		74		6,104
Total lease payments		33,840		4,114		37,954
Less: Interest		(4,526)		(657)		(5,183)
Present value of lease liability	$	29,314	$	3,457	$	32,771

Summary of Significant Accounting Policies - Property and Equipment, Net (Details)	Dec. 31, 2024
Building and improvements
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years
Molds and dyes \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Molds and dyes \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Machinery and equipment (including computer equipment and software) \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Machinery and equipment (including computer equipment and software) \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Vehicles
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Software
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	May 10, 2022	Jan. 11, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share Repurchase Program [Line Items]
Common stock, par value		$ 0.0001	$ 0.0001	$ 0.0001
Underwriting fees			$ 0	$ 0	$ 11,437
Amount authorized for repurchase	$ 100,000
Term of repurchase program	3 years
Common stock, shares outstanding			115,764,839	114,871,782
Common stock issued and outstanding for accounting purposes				114,828,896
Share Repurchase And Retirement Outside Of Repurchase Program [Member]
Share Repurchase Program [Line Items]
Value of shares repurchased and retired					257,663
Repurchase Program
Share Repurchase Program [Line Items]
Value of shares repurchased and retired					$ 23,038
Number of shares repurchased during the period			0	0
Amount remaining for repurchases			$ 77,000
Common Stock
Share Repurchase Program [Line Items]
Proceeds from sale of common stock (in shares)					13,800,000
Common Stock \| Share Repurchase And Retirement Outside Of Repurchase Program [Member]
Share Repurchase Program [Line Items]
Proceeds from sale of common stock (in shares)		13,800,000
Offering price per share		$ 19.5
Value of shares repurchased and retired		$ 257,700			$ 1
Underwriting fees		$ 11,400
Number of shares repurchased during the period		13,800,000			13,800,244
Common Stock \| Share Repurchase And Retirement Outside Of Repurchase Program [Member] \| Underwriters Option
Share Repurchase Program [Line Items]
Proceeds from sale of common stock (in shares)		1,800,000
Common Stock \| Repurchase Program
Share Repurchase Program [Line Items]
Value of shares repurchased and retired					$ 1
Number of shares repurchased during the period					4,483,620

Income Taxes - Changes in the valuation allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Balance at January 1	$ 3,114	$ 0	$ 0
Additions	8,700	3,114	0
Deductions	3,114	0	0
Balance at December 31	$ 8,700	$ 3,114	$ 0

Condensed Financial Information of Registrant (Parent Company Only)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

22.CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

Latham Group, Inc.

(Parent Company Only)

Condensed Balance Sheets

(in thousands, except share and per share data)


	December 31,
	2024		2023
Assets
Investment in subsidiary	$	387,222	$	399,200
Total assets	$	387,222	$	399,200
Liabilities and Stockholders’ Equity
Total liabilities	$	—	$	—
Stockholders’ Equity
Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of both December 31, 2024 and December 31, 2023; no shares issued and outstanding as of both December 31, 2024 and December 31, 2023		—		—
Common stock, $0.0001 par value; 900,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 115,764,839 and 114,871,782 shares issued and outstanding, as of December 31, 2024 and December 31, 2023, respectively		12		11
Additional paid-in capital		467,076		459,684
Accumulated deficit		(74,816)		(56,956)
Accumulated other comprehensive loss		(5,050)		(3,539)
Total stockholders’ equity		387,222		399,200
Total liabilities and stockholders’ equity	$	387,222	$	399,200

The accompanying notes are an integral part of these condensed financial statements.

Latham Group, Inc.

(Parent Company Only)

Condensed Statements of Operations

(in thousands, except share and per share data)


	Year Ended
	December 31,
	2024		2023		2022
Equity in net loss of subsidiary	$	(17,860)	$	(2,388)	$	(5,694)
Net loss attributable to common stockholders	$	(17,860)	$	(2,388)	$	(5,694)
Net loss per share
Net loss per share attributable to common stockholders – basic and diluted
Basic	$	(0.15)	$	(0.02)	$	(0.05)
Diluted	$	(0.15)	$	(0.02)	$	(0.05)
Weighted-average common shares outstanding – basic and diluted
Basic		115,434,828		112,899,586		113,245,421
Diluted		115,434,828		112,899,586		113,245,421

The accompanying notes are an integral part of these condensed financial statements.

Latham Group, Inc.

(Parent Company Only)

Condensed Statements of Comprehensive Loss

(in thousands)


	Year Ended
	December 31,
	2024		2023		2022
Net loss	$	(17,860)	$	(2,388)	$	(5,694)
Equity in other comprehensive loss of subsidiary		(1,511)		(6)		(3,903)
Comprehensive loss	$	(19,371)	$	(2,394)	$	(9,597)

The accompanying notes are an integral part of these condensed financial statements.

Latham Group, Inc.

(Parent Company Only)

Condensed Statement of Cash Flows

(in thousands)


	Year Ended
	December 31,
	2024		2023		2022
Cash flows from operating activities:
Net loss	$	(17,860)	$	(2,388)	$	(5,694)
Adjustments to reconcile net loss to net cash provided by operating activities:
Equity in net loss of subsidiary		17,860		2,388		5,694
Net cash provided by operating activities		—		—		—
Cash flows from investing activities:
Distribution from subsidiary		—		—		23,038
Net cash provided by investing activities		—		—		23,038
Cash flows from financing activities:
Proceeds from issuance of common stock		—		—		257,663
Repurchase and retirement of common stock		—		—		(280,701)
Net cash used in financing activities		—		—		(23,038)
Net increase in cash		—		—		—
Cash at beginning of period		—		—		—
Cash at end of period	$	—	$	—	$	—

The accompanying notes are an integral part of these condensed financial statements.

Notes to Condensed Financial Statements of Registrant (Parent Company Only)

1.Basis of Presentation

These condensed parent company-only financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X. Latham Group, Inc. has no material assets or standalone operations other than its ownership in its consolidated subsidiaries. Under the terms of the Credit Agreement entered into by the Latham Pool Products, a wholly owned subsidiary of LIMC, which itself is a wholly owned subsidiary of Latham Group, Inc., Latham Pool Products is restricted from making dividend payments, loans or advances to Latham Group, Inc., unless certain conditions are met. As of December 31, 2024 and 2023, substantially all of the consolidated net assets of Latham Pool Products are considered restricted net assets as defined in Rule 4-08(e)(3) of Regulation S-X.

Latham Group, Inc. is able to transfer assets from Latham Pool Products in order to pay certain tax liabilities.

These condensed parent company financial statements have been prepared using the same accounting principles and policies described in the notes to the condensed financial statements, with the only exception being that the parent company accounts for its subsidiary using the equity method.

2.Common Stock

On January 11, 2022, the Company completed an offering of 13,800,000 shares of common stock, par value $0.0001 per share, including the exercise in full by the underwriters of their option to purchase up to 1,800,000 additional shares of common stock, at a public offering price of $19.50 per share. The Company received proceeds of $257.7 million from this offering, net of $11.4 million of underwriting fees. The proceeds of $257.7 million were used to purchase 13,800,000 shares of common stock from certain of the Company’s stockholders, primarily investment funds managed by the Sponsor and Wynnchurch Capital, L.P., and also a small percentage of shares of common stock owned by some of the Company’s directors and executive officers.

On April 27, 2021, the Company completed its initial public offering (the “IPO”), pursuant to which it issued and sold 23,000,000 shares of common stock, inclusive of 3,000,000 shares sold by the Company pursuant to the full exercise of the underwriters’ option to purchase additional shares. The aggregate net proceeds received by the Company from the IPO were $399.3 million, after deducting underwriting discounts and commissions and other offering costs.

Leases - Maturities of operating lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 8,552
2026	7,024
2027	5,244
2028	3,818
2028	3,172
Thereafter	6,030
Total lease payments	33,840
Less: Interest	(4,526)
Present value of lease liability	29,314
Finance Leases
2025	1,032
2026	936
2027	860
2028	848
2029	364
Thereafter	74
Total lease payments	4,114
Less: Interest	(657)
Present value of lease liability	3,457
Total
2025	9,584
2026	7,960
2027	6,104
2028	4,666
2029	3,536
Thereafter	6,104
Total lease payments	37,954
Less: Interest	(5,183)
Present value of lease liability	$ 32,771	$ 35,951

Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
Geographic Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 508,520	$ 566,492	$ 695,736
Property and equipment, net	112,848	113,014
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	429,336	475,024	558,827
Property and equipment, net	72,827	68,148
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	48,138	58,443	91,579
Property and equipment, net	34,882	39,469
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	21,455	22,534	25,827
Property and equipment, net	4,018	3,980
New Zealand
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	5,721	6,030	9,346
Property and equipment, net	1,121	1,417
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 3,870	$ 4,461	$ 10,157

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Composition of Certain Balance Sheet Accounts - Bad Debts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for bad debt activity roll forward
Balance at the beginning of the year	$ 7,544	$ 3,161	$ 2,393
Bad debt expense	2,069	5,379	2,011
Write-offs, net of recoveries	(3,744)	(996)	(1,243)
Balance at the end of the year	$ 5,869	$ 7,544	$ 3,161

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of stock-based compensation expense


	Year Ended
	December 31,
	2024		2023		2022
Cost of sales	$	—	$	81	$	3,762
Selling, general, and administrative		7,392		18,723		46,872
	$	7,392	$	18,804	$	50,634

Schedule of assumptions used to determine the fair value of option awards granted

The following table sets forth the significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of stock appreciation rights awards granted:


	Year Ended
	December 31, 2023
Risk-free interest rate	3.54	%
Expected volatility	40.34	%
Expected term (in years)	6.25
Expected dividend yield	0.00	%

No stock appreciation rights were awarded during the year ended December 31, 2024.

The following table sets forth the significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of option awards granted:


	Year Ended
	December 31, 2022
Risk-free interest rate	2.06	%
Expected volatility	39.68	%
Expected term (in years)	6.25
Expected dividend yield	0.00	%

Nonvested Restricted Stock Shares Activity [Table Text Block]

The following table represents the Company’s restricted stock awards activity during the year ended December 31, 2024:


		Weighted-
		Average Grant-
	Shares	Date Fair Value
Outstanding at January 1, 2024	42,886	$	19.00
Granted	—		—
Vested	(42,886)		19.00
Forfeited	—		—
Outstanding at December 31, 2024	—	$	—

Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

The following table represents the Company’s restricted stock units activity during the year ended December 31, 2024:


		Weighted-
		Average Grant-
	Shares	Date Fair Value
Outstanding at January 1, 2024	2,235,479	$	3.60
Granted	2,992,704		2.97
Vested	(762,510)		3.83
Forfeited	(264,914)		3.43
Outstanding at December 31, 2024	4,200,759	$	3.12

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

The following table represents the Company’s stock option activity during the year ended December 31, 2024:


			Weighted-	Weighted-
			Average	Average
		Exercise Price		Remaining	Aggregate
	Shares	per Share		Contract Term	Intrinsic Value
				(in years)	(in thousands)
Outstanding at January 1, 2024	1,554,294	$	15.43
Granted	—		—
Exercised	—		—
Forfeited	(61,384)		16.74
Expired	(109,172)		17.62
Outstanding at December 31, 2024	1,383,738	$	15.20	6.96	$	185
Vested and expected to vest at December 31, 2024	1,383,738	$	15.20	6.96	$	185
Options exercisable at December 31, 2024	806,218	$	15.74	6.87	$	92

Schedule of stock appreciation rights activity

The following table represents the Company’s stock appreciation rights activity during the year ended December 31, 2024:


			Weighted-	Weighted-
			Average	Average
		Exercise Price		Remaining	Aggregate
	Shares	per Share		Contract Term	Intrinsic Value
				(in years)	(in thousands)
Outstanding at January 1, 2024	755,802	$	3.16
Granted	—		—
Exercised	(45,904)		3.24
Forfeited	(49,342)		3.24
Outstanding at December 31, 2024	660,556	$	3.15	8.37	$	2,518
Vested and expected to vest at December 31, 2024	660,556	$	3.15	8.37	$	2,518
Stock appreciation rights exercisable at December 31, 2024	130,708	$	3.12	8.39	$	501

Schedule of PSU activity

The following table represents the Company’s PSU activity during the year ended December 31, 2024:


			Weighted-
			Average
			Grant Date
	Shares		Fair Value

Outstanding at January 1, 2024	—	$	—
Granted	443,100		2.91
Adjustment for performance achievement ⁽¹⁾	364,671		2.91
Forfeited	—		—
Outstanding at December 31, 2024	807,771	$	2.91

(1)

Represents the adjustment to previously granted PSUs based on the Company’s performance as of December 31, 2024.

Long-Term Debt (Details) - USD ($) $ in Thousands	Feb. 23, 2022	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Gross debt		$ 288,063
Less: Unamortized discount and debt issuance costs		(6,542)	$ (8,112)
Total debt		281,521	301,201
Less: Current portion of long-term debt		(3,250)	(21,250)
Total long-term debt		278,271	279,951
Repayment of debt	$ 294,000
Term Loan Facility
Debt Instrument [Line Items]
Gross debt		288,063	309,313
Total debt		281,500
Amount borrowed	325,000
Revolving Credit Facility
Debt Instrument [Line Items]
Gross debt		$ 0	$ 0
Maximum borrowing capacity	$ 75,000

Acquisitions - Financial Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 02, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Coverstar Central, LLC
Business Acquisition, Pro Forma Information [Abstract]
Net sales since acquisition date		$ 8,236
Net earnings since acquisition date		(1,332)
Proforma net sales		520,795	$ 586,717	$ 715,551
Proforma net income (loss)		$ (12,634)	$ 4,380	$ 2,674
Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period		15 years
Franchise relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Period		4 years
Order backlog \| Coverstar Central, LLC
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 420
Amortization Period	1 year
Dealer relationships \| Coverstar Central, LLC
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 37,800
Amortization Period	13 years

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) customer	Dec. 31, 2023 USD ($) customer	Dec. 31, 2022 customer
Concentration Risk [Line Items]
Number of largest customers \| customer	1	1	1
Trade receivables	$ 32,299	$ 30,407
Accounts Receivable [Member] \| Credit Concentration Risk [Member] \| Customer One
Concentration Risk [Line Items]
Trade receivables	$ 4,600	$ 2,600
Net Sales \| Customer concentration \| Customer One
Concentration Risk [Line Items]
Concentration risk percentage	21.00%	20.30%	20.30%

Summary of Significant Accounting Policies - SBC, Pension and Other Postretirement Plans, Advertising , EPS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Discretionary matching and other contributions	$ 1.5	$ 1.4	$ 1.7
Total advertising costs	$ 8.5	$ 9.2	$ 9.8

Acquisitions

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

Acquisitions

3.ACQUISITIONS

Coverstar Central, LLC

On August 2, 2024 (the “Acquisition Date”), Latham Pool Products acquired Coverstar Central, LLC (“Coverstar Central”) for total consideration of $71.5 million (the “Coverstar Central Acquisition”). The total consideration included $66.5 million in cash (including a net working capital adjustment of $1.2 million) and a non-cash settlement of preexisting obligations of $4.9 million. Preexisting relationships are effectively settled since such a relationship becomes intercompany upon the acquisition and is eliminated in post-combination financial statements. The cash consideration was funded with cash on hand. The Company incurred $0.9 million in transaction costs. The results of Coverstar Central’s operations have been included in the condensed consolidated financial statements since that date. Coverstar Central is an automatic safety cover dealer based in the United States. The acquisition allows for vertical integration of the Company’s automatic safety cover product category. Additionally, the acquisition provides the Company with an increase in dealer and franchise relationships.

The Company accounted for the Coverstar Central Acquisition using the acquisition method of accounting in accordance with FASB ASC 805, Business Combinations (“ASC 805”). This requires that the assets acquired and liabilities assumed be measured at fair value. Inventories were valued using the comparative sales method. Specific to intangible assets, backlog and customer relationships were valued using the multi-period excess earnings method. The Company recorded the assets acquired and liabilities assumed at their respective fair values as of the Acquisition Date. The fair value of assets acquired and liabilities assumed recorded in the condensed consolidated financial statements may be subject to adjustment pending completion of final evaluation. These fair value estimates will be reevaluated and adjusted, if needed, during the measurement period of up to one year from the Acquisition Date, and recorded as adjustments to goodwill.

The following summarizes the allocation for the Company’s acquisition of Coverstar Central as of December 31, 2024:


(in thousands)	August 2, 2024
Total consideration	$	71,516
Allocation:
Cash		2,084
Trade receivables		7,020
Inventories		4,293
Prepaid expenses and other current assets		53
Property and equipment		344
Intangible assets		38,220
Deferred tax assets		43
Total assets acquired, excluding goodwill		52,057
Accounts payable		131
Accrued expenses and other current liabilities		2,457
Total liabilities assumed		2,588
Total fair value of net assets acquired, excluding goodwill		49,469
Goodwill	$	22,047

The excess of the total consideration over the fair value of the identifiable assets acquired and the liabilities assumed in the acquisition was allocated to goodwill in the amount of $22.0 million. Goodwill resulting from the acquisition was attributable to vertical integration, the expanded market share and broader geographical footprint. The goodwill recognized is deductible for tax purposes.

The Company allocated a portion of the total consideration to specific intangible asset categories as follows:


	Fair Value		Amortization
Definite-lived intangible assets:	(in thousands)		Period (in years)
Dealer relationships	$	37,800	13
Order backlog		420	1

The following are the incremental net sales and incremental net loss from Coverstar Central included in the Company’s results from the Acquisition Date through December 31, 2024:


(in thousands)	Amount
Net sales	$	8,236
Net loss	$	(1,332)

Pro Forma Financial Information (Unaudited)

The following pro forma financial information presents the statements of operations of the Company with Coverstar Central as if the acquisition occurred on January 1, 2022. The pro forma results do not include any anticipated synergies, cost savings or other expected benefits of the acquisition. The pro forma financial information is not necessarily indicative of what the financial results would have been had the acquisition been completed on January 1, 2022 and is not necessarily indicative of the Company’s future financial results.



	Year Ended
	December 31,
(in thousands)	2024		2023		2022
Net sales	$	520,795	$	586,717	$	715,551
Net (loss) income	$	(12,634)	$	4,380	$	2,674

The pro forma financial information presented above reflects the effects as a result of the acquisition, including the amortization expense from acquired intangible assets, the additional cost of sales from acquired inventory, the elimination of intercompany transactions and the removal of certain costs (primarily payroll costs) that would not have occurred and any related tax effects. Transaction costs for Coverstar Central are reflected within pro forma net income for the year ended December 31, 2022.

In addition, the Company acquired two of its smaller autocover dealers in February 2025.

Equity Method Investment (Details) - USD ($) $ in Thousands			12 Months Ended
Equity Method Investment (Details) - USD ($) $ in Thousands	Dec. 17, 2021	Oct. 30, 2020	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Aug. 06, 2021
Schedule of Equity Method Investments [Line Items]
Equity Method Investments			$ 24,891	$ 25,940
Earnings from equity method investment			(4,060)	(3,723)	$ (4,230)
Distributions received from equity method investment			$ 5,109	$ 2,878	2,497
Premier Group Holdings Inc.
Schedule of Equity Method Investments [Line Items]
Ownership percentage						29.80%
Premier Pools & Spas
Schedule of Equity Method Investments [Line Items]
Ownership percentage		28.00%	18.20%	20.10%
Consideration paid		$ 25,400
Proceeds from Sale of Equity Method Investments					6,800
Gain on Sale of Investments	$ 1,000				$ 3,900
Equity Method Investments			$ 24,900	$ 25,900
Earnings from equity method investment			4,100	3,700
Equity Method Investments Basis Difference Adjustment			200	200
Distributions received from equity method investment			$ 5,100	$ 2,900
Percentage of voting interests			20.10%

Net Sales

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Net Sales

13.NET SALES

The following table sets forth the Company’s disaggregation of net sales by product line (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
In-ground Swimming Pools	$	259,214	$	297,828	$	385,467
Covers		131,335		140,949		158,449
Liners		117,971		127,715		151,820
	$	508,520	$	566,492	$	695,736

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock Share Repurchase And Retirement Outside Of Repurchase Program [Member]	Common Stock Repurchase Program	Common Stock	Additional Paid-in Capital Share Repurchase And Retirement Outside Of Repurchase Program [Member]	Additional Paid-in Capital Repurchase Program	Additional Paid-in Capital	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Cumulative Effect, Period of Adoption, Adjustment	Share Repurchase And Retirement Outside Of Repurchase Program [Member]	Repurchase Program	Total
Balance, beginning of period at Dec. 31, 2021			$ 12			$ 401,846		$ (48,583)	$ 370				$ 353,645
Balance, beginning of period (in shares) at Dec. 31, 2021			119,445,611
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss								(5,694)					(5,694)
Foreign currency translation adjustments									(3,903)				(3,903)
Sale of common stock			$ 1			269,099							269,100
Sale of common stock (in shares)			13,800,000
Repurchase and retirement of common stock	$ (1)	$ (1)		$ (257,662)	$ (23,037)						$ (257,663)	$ (23,038)
Repurchase and retirement of common stock (in shares)		(4,483,620)	(480,385)
Issuance of common stock upon release of restricted stock units (in shares)			186,613
Stock-based compensation expense						50,634							50,634
Balance, end of period at Dec. 31, 2022			$ 11			440,880	$ (291)	(54,568)	(3,533)	$ (291)			382,790
Balance, end of period (in shares) at Dec. 31, 2022			114,667,975
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss								(2,388)					(2,388)
Foreign currency translation adjustments									(6)				(6)
Repurchase and retirement of common stock (in shares)			(155,450)
Issuance of common stock upon release of restricted stock units (in shares)			359,257
Stock-based compensation expense						18,804							18,804
Balance, end of period at Dec. 31, 2023			$ 11			459,684		(56,956)	(3,539)				399,200
Balance, end of period (in shares) at Dec. 31, 2023			114,871,782
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss								(17,860)					(17,860)
Foreign currency translation adjustments									(1,511)				(1,511)
Issuance of common stock upon release of restricted stock units			$ 1										1
Issuance of common stock upon release of restricted stock units (in shares)			893,057
Stock-based compensation expense						7,392							7,392
Balance, end of period at Dec. 31, 2024			$ 12			$ 467,076		$ (74,816)	$ (5,050)				$ 387,222
Balance, end of period (in shares) at Dec. 31, 2024			115,764,839

Net Sales (Details) - USD ($) $ in Thousands	12 Months Ended
Net Sales (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 508,520	$ 566,492	$ 695,736
In-Ground Swimming Pools
Disaggregation of Revenue [Line Items]
Net sales	259,214	297,828	385,467
Covers
Disaggregation of Revenue [Line Items]
Net sales	131,335	140,949	158,449
Liners
Disaggregation of Revenue [Line Items]
Net sales	$ 117,971	$ 127,715	$ 151,820

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Stockholders' Equity

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

17.STOCKHOLDERS’ EQUITY

Offering of Common Stock

On January 11, 2022, the Company completed an offering of 13,800,000 shares of common stock, par value $0.0001 per share, including the exercise in full by the underwriters of their option to purchase up to 1,800,000 additional shares of common stock, at a public offering price of $19.50 per share. The Company received proceeds of $257.7 million from this offering, net of $11.4 million of underwriting fees. The proceeds of $257.7 million were used to purchase 13,800,000 shares of common stock from certain of the Company’s stockholders, primarily investment funds managed by Pamplona Capital Management (the “Sponsor”) and Wynnchurch Capital, L.P., and also a small percentage of shares of common stock owned by some of the Company’s directors and executive officers.

Repurchase Program

On May 10, 2022, the Board of the Company approved a stock repurchase program (the “Repurchase Program”), which authorizes the Company to repurchase up to $100 million of the Company’s shares of common stock over the next three years. The Company may effect these repurchases in open market transactions, privately negotiated purchases, or other acquisitions. The Company is not obligated to repurchase any of its shares of its common stock under the Repurchase Program and the timing and amount of any repurchases will depend on market conditions, the Company’s stock price, alternative uses of capital, the terms of the Company’s debt instruments, and other factors.

During the year ended December 31, 2022, the Company repurchased and concurrently retired 4,483,620 shares of the Company’s common stock for an aggregate amount of $23.0 million, pursuant to the Repurchase Program. All of the shares were repurchased under a Rule 10b5-1 trading plan. No shares were repurchased during the years ended December 31, 2024 or 2023. As of December 31, 2024, $77.0 million remained available under our Repurchase Program.

As of and December 31, 2024 and 2023, 115,764,839 and 114,828,896 shares of common stock were issued and outstanding for accounting purposes, respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (17,860)	$ (2,388)	$ (5,694)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(1,511)	(6)	(3,903)
Total other comprehensive loss, net of tax	(1,511)	(6)	(3,903)
Comprehensive income loss	$ (19,371)	$ (2,394)	$ (9,597)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References + Details

Long-Term Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Long-Term Debt

9.LONG-TERM DEBT

The components of the Company’s outstanding debt obligations consisted of the following (in thousands):


	December 31,
	2024		2023
Term Loan	$	288,063	$	309,313
Revolving Credit Facility		—		—
Less: Unamortized discount and debt issuance costs		(6,542)		(8,112)
Total debt		281,521		301,201
Less: Current portion of long-term debt		(3,250)		(21,250)
Total long-term debt	$	278,271	$	279,951

On February 23, 2022, Latham Pool Products entered into an agreement (the “Credit Agreement”) with Barclays Bank PLC, which provides a senior secured multicurrency revolving line of credit (the “Revolving Credit Facility”) in an initial principal amount of $75.0 million and a U.S. Dollar senior secured term loan (the “Term Loan”) in an initial principal amount of $325.0 million. On the closing date, proceeds under the Credit Agreement were used to terminate the previous credit agreement by repayment of $294.0 million of outstanding debt thereunder and for general corporate purposes. As of December 31, 2024, the Company was in compliance with all financial covenants under the Credit Agreement.

Revolving Credit Facility

The Revolving Credit Facility may be utilized to finance ongoing general corporate and working capital needs and permits Latham Pool Products to borrow loans in U.S. Dollars, Canadian Dollars, Euros, and Australian Dollars. The Revolving Credit Facility matures on February 23, 2027. Loans outstanding under the Revolving Credit Facility

denominated in U.S. Dollars and Canadian Dollars bear interest, at the borrower’s option, at a rate per annum based on Term SOFR or CDO (each, as defined in the Credit Agreement), as applicable, plus a margin of 3.50%, or at a rate per annum based on the Base Rate or the Canadian Prime Rate (each, as defined in the Credit Agreement), plus a margin of 2.50%. Loans outstanding under the Revolving Credit Facility denominated in Euros or Australian Dollars bear interest based on EURIBOR or the AUD Rate (each, as defined in the Credit Agreement), respectively, plus a margin of 3.50%. A commitment fee accrues on any unused portion of the commitments under the Revolving Credit Facility. The commitment fee is due and payable quarterly in arrears and is, initially, 0.375% per annum and will, thereafter, accrue at a rate per annum ranging from 0.25% to 0.50%, depending on the First Lien Net Leverage Ratio (as defined in the Credit Agreement, the “First Lien Net Leverage Ratio”). Borrowings under the Revolving Credit Facility are due at maturity.

The Company incurred debt issuance costs of $0.8 million related to the Revolving Credit Facility. The debt issuance costs were recorded within other assets on the consolidated balance sheet and are being amortized over the life of the Revolving Credit Facility.

The Company is required to meet certain financial covenants, including maintaining specific liquidity measurements. There are also negative covenants, including certain restrictions on the Company’s ability to incur additional indebtedness, create liens, make investments, consolidate, or merge with other entities, enter into transactions with affiliates, make prepayments with respect to certain indebtedness, and make restricted payments and other distributions.

As of December 31, 2024, there were no outstanding borrowings on the Revolving Credit Facility and $75.0 million was available for future borrowing.

Term Loan

Pursuant to the Credit Agreement, Latham Pool Products borrowed $325.0 million in term loans. The Term Loan matures on February 23, 2029. Loans outstanding under the Term Loan bear interest, at the borrower’s option, at a rate per annum based on Term SOFR (as defined in the Credit Agreement), plus a margin ranging from 3.75% to 4.00%, depending on the First Lien Net Leverage Ratio, or based on the Base Rate (as defined in the Credit Agreement), plus a margin ranging from 2.75% to 3.00%, depending on the First Lien Net Leverage Ratio. Loans under the Term Loan are subject to scheduled quarterly amortization payments of $812,500, equal to 0.25% of the initial principal amount of the Term Loan. The Term Loan contains customary mandatory prepayment provisions, including requirements to make mandatory prepayments with 50% of any excess cash flow and with 100% of the net cash proceeds from the incurrence of indebtedness not otherwise permitted to be incurred by the covenants, asset sales, and casualty and condemnation events, in each case, subject to customary exceptions.

During the fiscal year ended December 31, 2024, the Company made a payment of $18.0 million in addition to the required annual payments $3.3 million. No additional payments are expected in the year ended December 31, 2025.

Outstanding borrowings as of December 31, 2024 were $281.5 million, net of discount and debt issuance costs of $6.5 million. In connection with the Term Loan, the Company is subject to various negative, reporting, financial, and other covenants, including maintaining specific liquidity measurements.

As of December 31, 2024, the unamortized debt issuance costs and discount on the Term Loan were $3.6 million and $2.9 million, respectively. The effective interest rate was 8.61% at December 31, 2024, including the impact of the Company’s interest rate swap.

As of December 31, 2024, the Company was in compliance with all financial covenants under the Credit Agreement.

Interest Rate Risk

Interest rate risk associated with the Credit Agreement is mitigated partially through an interest rate swap.

The Company executed an interest rate swap on April 30, 2020. The swap had an effective date of May 18, 2020 and a termination date of May 18, 2023. In February 2022, the Company amended its interest rate swap to change the index rate from LIBOR to SOFR in connection with the entry into the Credit Agreement. Under the terms of the amended swap, the Company fixed its SOFR borrowing rate at 0.496% on a notional amount of $200.0 million. The interest rate swap was not designated as a hedging instrument for accounting purposes.

The Company entered into an interest rate swap that was executed on March 10, 2023, in connection with its Credit Agreement. The swap has an effective date of May 18, 2023 and a termination date of May 18, 2026. Under the terms of the swap, the Company fixed its SOFR borrowing rate at 4.3725% on a notional amount of $161.0 million. The interest rate swap is not designated as a hedging instrument for accounting purposes. Refer to Note 5 for additional detail.

Debt Maturities

Principal payments due on the outstanding debt in the next five fiscal years, excluding any potential payments based on excess cash flow levels, are as follows (in thousands):



Fiscal Year Ending	Term Loan
2025	$	3,250
2026		3,250
2027		3,250
2028		3,250
2029		275,063
	$	288,063

Guarantees

The obligations under the Credit Agreement are guaranteed by certain wholly owned subsidiaries (the “Guarantors”) of the Company that are party to that certain security agreement, which was executed in connection with the Credit Agreement. The obligations under the Credit Agreement are secured by substantially all of the Guarantors’ tangible and intangible assets, including their accounts receivables, equipment, intellectual property, inventory, cash and cash equivalents, deposit accounts, and security accounts. The Credit Agreement also restricts payments and other distributions unless certain conditions are met, which could restrict the Company’s ability to pay dividends. The ownership chain between Latham Pool Products and the Company consists of a series of holding companies with no material assets, liabilities, or standalone operations other than indirect equity interests in Latham Pool Products.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Summary of Significant Accounting Policies - Long-Lived Assets (Details)	12 Months Ended
	Dec. 31, 2024
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	15 years
Non-Competition Agreements
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	5 years
Franchise relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	4 years
Maximum \| Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	25 years
Maximum \| Pool Designs
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	15 years
Maximum \| Dealer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	13 years
Maximum \| Patented technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	10 years
Maximum \| Order backlog
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	12 months
Minimum \| Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	9 years
Minimum \| Pool Designs
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	14 years
Minimum \| Dealer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	5 years
Minimum \| Patented technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	5 years
Minimum \| Order backlog
Finite-Lived Intangible Assets [Line Items]
Weighted-average estimated useful lives (in years)	10 months

Fair Value Measurements - Fair value of financial instruments (Details) - Level 2 - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Term Loan Facility \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount	$ 281,521	$ 301,201
Term Loan Facility \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount	276,946	289,153
Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of interest rate swap liability	$ 400	$ 1,200

- Definition

Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

+ Details

Product Warranties (Tables)

12 Months Ended

Dec. 31, 2024

Product Warranties Disclosures [Abstract]

Schedule of warranty reserve activity

The warranty reserve activity consisted of the following (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Balance at the beginning of the fiscal year	$	3,161	$	3,990	$	4,909
Adjustments to reserve		2,615		5,319		4,567
Less: Settlements made (in cash or in kind)		(3,129)		(6,148)		(5,486)
Balance at the end of the fiscal year	$	2,647	$	3,161	$	3,990

Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investor [Member] \| Maximum
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 0.1	$ 0.1	$ 0.1

Stock-Based Compensation - Performance Stock Units (Details) - $ / shares		12 Months Ended
	May 02, 2023	Dec. 31, 2024
Weighted Average Grant Date Fair Value
Shares reserved for issuance		21,170,212
Performance level percent		100.00%
Performance period	1 year	1 year
Additional shares authorized	8,000,000
Maximum
Weighted Average Grant Date Fair Value
Performance level percent		200.00%
Minimum
Weighted Average Grant Date Fair Value
Performance level percent		0.00%
Performance Stock Units
Shares
Balance at beginning		0
Granted		443,100
Adjustment for expected performance achievement		364,671
Forfeited		0
Balance at ending		807,771
Weighted Average Grant Date Fair Value
Balance at beginning		$ 0
Granted		2.91
Adjustment for expected performance achievement		2.91
Forfeited		0
Balance at ending		$ 2.91

Goodwill and Intangible Assets, Net - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 431,713	$ 393,493
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	(897)
Foreign Currency Translation		108
Accumulated Amortization	137,903	110,808
Net Amount	292,913	282,793
Amortization of Intangible Assets	27,103	26,519	$ 28,180
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	148,100	148,100
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	(592)
Foreign Currency Translation		72
Accumulated Amortization	36,183	29,583
Net Amount	111,325	118,589
Patented technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	16,126	16,126
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	(9)
Foreign Currency Translation		1
Accumulated Amortization	10,303	8,713
Net Amount	5,814	7,414
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	13,000	13,000
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	0
Foreign Currency Translation		0
Accumulated Amortization	2,673	1,806
Net Amount	10,327	11,194
Pool Designs
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	13,628	13,628
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	(293)
Foreign Currency Translation		35
Accumulated Amortization	3,909	2,973
Net Amount	9,426	10,690
Franchise relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,187	1,187
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	0
Foreign Currency Translation		0
Accumulated Amortization	1,187	1,187
Net Amount	0	0
Dealer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	235,176	197,376
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	(3)
Foreign Currency Translation		0
Accumulated Amortization	79,397	62,470
Net Amount	155,776	134,906
Order backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,020	1,600
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	0
Foreign Currency Translation		0
Accumulated Amortization	1,775	1,600
Net Amount	245	0
Non-Competition Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,476	2,476
Finite-Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	0
Foreign Currency Translation		0
Accumulated Amortization	2,476	2,476
Net Amount	$ 0	$ 0

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of components of lease expense


	Year Ended
	December 31, 2024		December 31, 2023
Operating lease expense	$	8,613	$	9,350
Finance lease amortization of assets		848		679
Finance lease interest on lease liabilities		316		296
Short-term lease expense		433		319
Variable lease expense		562		1,180
Total lease expense	$	10,772	$	11,824

Schedule of supplemental lease information

Operating and finance lease right of use assets and lease-related liabilities as of December 31, 2024 and 2023 were as follows (in thousands):


	December 31, 2024		December 31, 2023		Classification

Lease right-of-use assets:
Operating leases	$	28,259	$	30,788	Operating lease right-of-use assets
Finance leases		3,261		3,912	Other assets
Total lease right-of-use assets	$	31,520	$	34,700

Lease-related liabilities
Current
Operating leases	$	7,176	$	7,133	Current operating lease liabilities
Finance leases		779		746	Accrued expenses and other current liabilities
Non-current
Operating leases		22,138		24,787	Non-current operating lease liabilities
Finance leases		2,678		3,285	Other long-term liabilities
Total lease liabilities	$	32,771	$	35,951

The table below presents supplemental information related to leases as of December 31, 2024 and 2023:


	December 31, 2024			December 31, 2023
Weighted-average remaining lease term (years)
Finance leases		4.4			5.2
Operating leases		5.3			5.7
Weighted-average discount rate
Finance leases		8.2	%		8.2	%
Operating leases		5.4	%		5.1	%

The table below presents supplemental information related to the cash flows for operating leases recorded on the consolidated statements of cash flows (in thousands):


	Year Ended
	December 31, 2024		December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	7,134	$	7,551

Schedule of maturities of operating lease liabilities


	Operating Leases		Finance Leases		Total
2025	$	8,552	$	1,032	$	9,584
2026		7,024		936		7,960
2027		5,244		860		6,104
2028		3,818		848		4,666
2029		3,172		364		3,536
Thereafter		6,030		74		6,104
Total lease payments		33,840		4,114		37,954
Less: Interest		(4,526)		(657)		(5,183)
Present value of lease liability	$	29,314	$	3,457	$	32,771

Schedule of maturities of finance lease liabilities

The following table summarizes fiscal year maturities of operating lease liabilities as of the year ended December 31, 2024 (in thousands):


	Operating Leases		Finance Leases		Total
2025	$	8,552	$	1,032	$	9,584
2026		7,024		936		7,960
2027		5,244		860		6,104
2028		3,818		848		4,666
2029		3,172		364		3,536
Thereafter		6,030		74		6,104
Total lease payments		33,840		4,114		37,954
Less: Interest		(4,526)		(657)		(5,183)
Present value of lease liability	$	29,314	$	3,457	$	32,771

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2024	Feb. 28, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Transition Report	false
Securities Act File Number	001-40358
Entity Registrant Name	Latham Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2797583
Entity Address, Address Line One	787 Watervliet Shaker Road
Entity Address, City or Town	Latham
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	12110
City Area Code	800
Local Phone Number	833-3800
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	SWIM
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Document Financial Statement Error Correction [Flag]	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
ICFR Auditor Attestation Flag	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 125,148,754
Entity Common Stock, Shares Outstanding		115,776,595
Entity Central Index Key	0001833197
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Hartford, Connecticut

Stock-Based Compensation

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

16.STOCK-BASED COMPENSATION

On April 12, 2021, the Company’s stockholders approved the 2021 Omnibus Equity Incentive Plan (the “2021 Omnibus Equity Plan”), which became effective on April 22, 2021. The 2021 Omnibus Equity Plan provides for the issuance of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock-based and cash-based awards. The maximum grant date fair value of cash and equity awards that may be awarded to a non-employee director under the 2021 Omnibus Equity Plan during any one fiscal year, together with any cash fees paid to such non-employee director during such fiscal year, is $750,000.

On May 2, 2023, at the 2023 annual meeting of stockholders the Company, the stockholders approved the first amendment (the “Equity Plan First Amendment”) to the Latham Group, Inc. 2021 Omnibus Equity Plan, which was previously approved by the Board of the Company. The Equity Plan First Amendment became effective upon stockholder approval, and provides for (i) an increase by 8,000,000 shares of the share pool, i.e. the maximum number of shares of the Company’s common stock that may be issued pursuant to awards granted under the 2021 Omnibus Equity Plan, (ii) a prohibition on recycling of shares withheld or remitted to pay taxes for all awards, (iii) a minimum vesting period of one year for all awards, with an exception for shares representing 5% of the share pool, and (iv) a prohibition on the transfer of stock options and stock appreciation rights for value or to third-party financial institutions without stockholder approval.

Except as amended by the Equity Plan First Amendment, the other terms of the 2021 Omnibus Equity Plan remain in full force and effect. Subsequent to the Equity Plan First Amendment, the maximum aggregate number of shares reserved for issuance under the 2021 Omnibus Equity Plan is 21,170,212 shares. The following table summarizes the Company’s stock-based compensation expense (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Cost of sales	$	—	$	81	$	3,762
Selling, general, and administrative		7,392		18,723		46,872
	$	7,392	$	18,804	$	50,634

The recognized income tax benefit related to stock-based compensation was $0.6 million, $0.5 million and $0.8 million for the years ended December 31, 2024, December 31, 2023, and December 31, 2022 respectively. As of December 31, 2024, total unrecognized stock-based compensation expense related to all unvested stock-based awards was $9.7 million, which is expected to be recognized over a weighted-average period of 1.91 years.


	Year Ended
	December 31, 2023
Risk-free interest rate	3.54	%
Expected volatility	40.34	%
Expected term (in years)	6.25
Expected dividend yield	0.00	%

No stock appreciation rights were awarded during the year ended December 31, 2024.

The following table sets forth the significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of option awards granted:


	Year Ended
	December 31, 2022
Risk-free interest rate	2.06	%
Expected volatility	39.68	%
Expected term (in years)	6.25
Expected dividend yield	0.00	%

No stock options were granted under this plan during the year ended December 31, 2024.

Restricted Stock Awards

The following table represents the Company’s restricted stock awards activity during the year ended December 31, 2024:


		Weighted-
		Average Grant-
	Shares	Date Fair Value
Outstanding at January 1, 2024	42,886	$	19.00
Granted	—		—
Vested	(42,886)		19.00
Forfeited	—		—
Outstanding at December 31, 2024	—	$	—

Restricted Stock Units

The following table represents the Company’s restricted stock units activity during the year ended December 31, 2024:


		Weighted-
		Average Grant-
	Shares	Date Fair Value
Outstanding at January 1, 2024	2,235,479	$	3.60
Granted	2,992,704		2.97
Vested	(762,510)		3.83
Forfeited	(264,914)		3.43
Outstanding at December 31, 2024	4,200,759	$	3.12

Stock Options

The following table represents the Company’s stock option activity during the year ended December 31, 2024:


			Weighted-	Weighted-
			Average	Average
		Exercise Price		Remaining	Aggregate
	Shares	per Share		Contract Term	Intrinsic Value
				(in years)	(in thousands)
Outstanding at January 1, 2024	1,554,294	$	15.43
Granted	—		—
Exercised	—		—
Forfeited	(61,384)		16.74
Expired	(109,172)		17.62
Outstanding at December 31, 2024	1,383,738	$	15.20	6.96	$	185
Vested and expected to vest at December 31, 2024	1,383,738	$	15.20	6.96	$	185
Options exercisable at December 31, 2024	806,218	$	15.74	6.87	$	92

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those stock options that had exercise prices lower than the fair value of the Company’s common stock.

No stock options were granted during the year ended December 31, 2024 or December 31, 2023.

Stock Appreciation Rights

During the quarter ended April 1, 2023, as a portion of the annual equity award grants to the Company’s executive officers, the Compensation Committee of the Board approved stock appreciation rights for an aggregate of 790,181 shares of the Company’s common stock, with a strike price of $3.24 per share (the “Contingent Grants”). At the time of such approval, the Company did not have enough shares of the Company’s common stock in the share pool under the 2021 Omnibus Equity Plan to support such grant. As of April 1, 2023, the Contingent Grants remained subject to stockholder approval of the Equity Plan First Amendment. On May 2, 2023, following stockholder approval of the Equity Plan First Amendment, the foregoing stock appreciation right awards became effective without condition.

The following table represents the Company’s stock appreciation rights activity during the year ended December 31, 2024:


			Weighted-	Weighted-
			Average	Average
		Exercise Price		Remaining	Aggregate
	Shares	per Share		Contract Term	Intrinsic Value
				(in years)	(in thousands)
Outstanding at January 1, 2024	755,802	$	3.16
Granted	—		—
Exercised	(45,904)		3.24
Forfeited	(49,342)		3.24
Outstanding at December 31, 2024	660,556	$	3.15	8.37	$	2,518
Vested and expected to vest at December 31, 2024	660,556	$	3.15	8.37	$	2,518
Stock appreciation rights exercisable at December 31, 2024	130,708	$	3.12	8.39	$	501

The aggregate intrinsic value of stock appreciation rights is calculated as the difference between the strike price of the stock appreciation rights and the fair value of the Company’s common stock for those stock appreciation rights that had strike prices lower than the fair value of the Company’s common stock.

No stock appreciation rights were granted during the year ended December 31, 2024. The weighted average grant-date fair value of stock appreciation rights granted during the year ended December 31, 2023 was $1.08 per share.

Performance Stock Units

During the year ended December 31, 2024, the Compensation Committee of the Board approved the grant of performance stock units (“PSUs”) as a portion of the annual equity award to the Company’s executive officers.

The PSUs will be earned at 0% to 200% of the target PSUs (with 100% of PSUs being earned at target performance, and linear interpolation between threshold and target and maximum performance) based on the Company’s achievement of Adjusted EBITDA, as defined in the award agreement, over a one-fiscal year performance period ending December 31, 2024. Any earned PSUs cliff vest on the third anniversary of the grant date. Adjusted EBITDA is considered a performance condition and the grant date fair value corresponds with management’s expectation of the probable outcome of the performance condition as of the grant date. The grant date fair value is determined based on the fair market value of the Company’s stock at market close on the grant date multiplied by the target number of shares subject to the award. The probability of achieving the performance criteria is assessed quarterly during the performance period. Compensation expense related to unvested PSUs is recognized ratably over the service period.

The following table represents the Company’s PSU activity during the year ended December 31, 2024:


			Weighted-
			Average
			Grant Date
	Shares		Fair Value

Outstanding at January 1, 2024	—	$	—
Granted	443,100		2.91
Adjustment for performance achievement ⁽¹⁾	364,671		2.91
Forfeited	—		—
Outstanding at December 31, 2024	807,771	$	2.91

(1)

Represents the adjustment to previously granted PSUs based on the Company’s performance as of December 31, 2024.

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Schedule of inventories, net

Inventories, net consisted of the following (in thousands):


	December 31,
	2024		2023
Raw materials	$	49,322	$	55,081
Finished goods		27,779		42,056
	$	77,101	$	97,137

Summary of Significant Accounting Policies - Goodwill, Deferred Offering Costs, Segments, Taxes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Number of reporting units	1
Number of operating segments	1
Number of reportable segments	1
Accrued interest on unrecognized tax benefits \| $	$ 0.0	$ 0.0
Accrued penalties on unrecognized tax benefits \| $	$ 0.0	$ 0.0

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]

Summary of Operations of the Company's single segment



	Year Ended December 31,
	2024		2023		2022
Net sales	$	508,520	$	566,492	$	695,736
Other cost of sales⁽¹⁾		339,078		398,293		465,230
Other selling, general and administrative expense⁽²⁾		93,138		86,385		93,500
Depreciation		16,494		13,817		9,995
Amortization⁽³⁾		27,952		26,934		28,180
Stock-based compensation expense		7,392		18,804		50,634
Strategic initiative costs⁽⁴⁾		3,329		4,092		3,948
Acquisition and integration related costs⁽⁵⁾		2,348		911		326
Restructuring charges⁽⁶⁾		512		3,727		1,607
Interest expense, net		24,840		30,916		15,753
Odessa fire⁽⁷⁾		-		(2,600)		869
Other expense (income), net		6,237		(1,004)		1,301
Earnings from equity method investment		(4,060)		(3,723)		(4,230)
Income tax expense (benefit)		9,120		(7,672)		19,415
Loss on extinguishment of debt		-		-		3,465
Underwriting fees related to offering of common stock		-		-		11,437
Net loss	$	(17,860)	$	(2,388)	$	(5,694)

Geographic Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Geographic Reporting [Text Block]

21.GEOGRAPHIC INFORMATION

Net sales by geography is based on the delivery address of the customer as specified in purchase order. Net sales by geographic area was as follows (in thousands):


	December 31,
	2024		2023		2022
Net sales
United States	$	429,336	$	475,024	$	558,827
Canada		48,138		58,443		91,579
Australia		21,455		22,534		25,827
New Zealand		5,721		6,030		9,346
Other		3,870		4,461		10,157
Total	$	508,520	$	566,492	$	695,736

Our long-lived assets by geographic area, which consist of property and equipment, net were as follows (in thousands):


	December 31,
	2024		2023
Long-lived assets
United States	$	72,827	$	68,148
Canada		34,882		39,469
Australia		4,018		3,980
New Zealand		1,121		1,417
Total	$	112,848	$	113,014

Condensed Financial Information of Registrant (Parent Company Only) - Condensed Balance Sheets - Additional (Details) - $ / shares	Dec. 31, 2024	Dec. 31, 2023	Jan. 11, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	115,764,839	114,871,782
Common stock, shares outstanding	115,764,839	114,871,782
Latham Investment Holdings, LP
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	115,764,839	114,871,782
Common stock, shares outstanding	115,764,839	114,871,782

Stock-Based Compensation - Stock Options and SARs (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 01, 2023	Dec. 31, 2024
Shares
Granted		0
Employee Stock Option
Shares
Outstanding at the beginning		1,554,294
Granted		0
Exercised		0
Forfeited		(61,384)
Expired		(109,172)
Outstanding at the end		1,383,738
Vested and expected to vest		1,383,738
Options exercisable at the end		806,218
Weighted-Average Exercise Price per Share
Outstanding at the beginning (in dollars per share)		$ 15.43
Granted (in dollars per share)		0
Exercised (in dollars per share)		0
Forfeited (in dollars per share)		16.74
Expired (in dollars per share)		17.62
Outstanding at the end (in dollars per share)		15.2
Vested and expected to vest at the end (in dollars per share)		15.2
Options exercisable at the end (in dollars per share)		$ 15.74
Weighted-Average Remaining Contract Term
Outstanding at the end (in years)		6 years 11 months 15 days
Vested and expected to vest at the end (in years)		6 years 11 months 15 days
Options exercisable at the end (in years)		6 years 10 months 13 days
Outstanding at the end (in dollars)		$ 185
Vested and expected to vest (in dollars)		185
Options exercisable at the end (in dollars)		$ 92
Stock Appreciation Rights (SARs)
Shares
Outstanding at the beginning		755,802
Granted	790,181	0
Exercised		(45,904)
Forfeited		(49,342)
Outstanding at the end		660,556
Vested and expected to vest		660,556
Options exercisable at the end		130,708
Weighted-Average Exercise Price per Share
Outstanding at the beginning (in dollars per share)		$ 3.16
Granted (in dollars per share)	$ 3.24	0
Exercised (in dollars per share)		3.24
Forfeited (in dollars per share)		3.24
Outstanding at the end (in dollars per share)		3.15
Vested and expected to vest at the end (in dollars per share)		3.15
Options exercisable at the end (in dollars per share)		$ 3.12
Weighted-Average Remaining Contract Term
Outstanding at the end (in years)		8 years 4 months 13 days
Vested and expected to vest at the end (in years)		8 years 4 months 13 days
Options exercisable at the end (in years)		8 years 4 months 20 days
Outstanding at the end (in dollars)		$ 2,518
Vested and expected to vest (in dollars)		2,518
Options exercisable at the end (in dollars)		$ 501

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of estimated useful lives of property, plant and equipment


		Estimated
		Useful Life
Building and improvements		25 years
Molds and dyes		5 – 10 years
Machinery and equipment (including computer equipment and software)		3 – 10 years
Furniture and fixtures		5 – 7 years
Vehicles		5 years

Schedule of weighted-average estimated useful lives of finite lived intangible assets


		Estimated
Asset		Useful Life
Trade names and trademarks		9 – 25 years
Technology		15 years
Pool designs		14 – 15 years
Dealer relationships		5 – 13 years
Patented technology		5 – 10 years
Non-competition agreements		5 years
Franchise relationships		4 years
Order backlog		10 – 12 months

Income Taxes - Tax Uncertainties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%	21.00%
Net decrease of uncertain tax position liability from expiration of the statute of limitations		$ 7,500
Gross decrease of uncertain tax position liability from expiration of the statute of limitations		10,600
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	$ 0	10,682
Income tax on gross decrease of uncertain tax position liability from expiration of the statute of limitations		$ 3,100

Nature of the Business

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of the Business

1.NATURE OF THE BUSINESS

Latham Group, Inc. (the “Company” or “Latham”) wholly owns Latham Pool Products, Inc. (“Latham Pool Products”) a designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand. Latham Pool Products offers a portfolio of pools and related products, including in-ground swimming pools, pool covers, and pool liners.

Income Taxes - Reconciliation of the statutory tax rate with effective tax rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%	21.00%
Foreign rate differential	5.70%	(5.60%)	4.10%
State income tax, net of federal benefit	(16.80%)	14.00%	14.00%
Uncertain tax positions	0.00%	101.70%	2.10%
Change in valuation allowance	(99.60%)	(30.90%)	0.00%
Transaction costs not deductible for tax	0.00%	0.00%	18.80%
Other non-deductible expense	0.00%	(6.80%)	0.00%
Nondeductible stock compensation	(0.40%)	(24.10%)	67.30%
Canadian branch income	10.10%	1.30%	8.80%
Foreign tax restructuring	(16.00%)	21.30%	0.00%
Other permanent items	(8.40%)	(15.70%)	5.40%
Total	(104.40%)	76.20%	141.50%

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Composition of Certain Balance Sheet Accounts

12 Months Ended

Dec. 31, 2024

Disclosure Text Block Supplement [Abstract]

Composition of Certain Balance Sheet Accounts

10.COMPOSITION OF CERTAIN BALANCE SHEET ACCOUNTS

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	December 31,
	2024		2023
Accrued sales rebates	$	13,545	$	10,170
Accrued product warranties		2,389		2,889
Accrued incentives		8,678		1,270
Accrued vacation		2,509		2,310
Accrued payroll		4,405		4,893
Accrued interest		4,153		2,955
Income taxes payable		—		1,682
Deferred revenue		3,794		3,787
Other accrued expenses		7,937		10,735
Total accrued expenses and other current liabilities	$	47,410	$	40,691

Allowance for Bad Debt

The allowance for bad debt consisted of the following (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Balance at the beginning of the year	$	7,544	$	3,161	$	2,393
Bad debt expense		2,069		5,379		2,011
Write-offs, net of recoveries		(3,744)		(996)		(1,243)
Balance at the end of the year	$	5,869	$	7,544	$	3,161

Product Warranties

12 Months Ended

Dec. 31, 2024

Product Warranties Disclosures [Abstract]

Product Warranties

11.PRODUCT WARRANTIES

The warranty reserve activity consisted of the following (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Balance at the beginning of the fiscal year	$	3,161	$	3,990	$	4,909
Adjustments to reserve		2,615		5,319		4,567
Less: Settlements made (in cash or in kind)		(3,129)		(6,148)		(5,486)
Balance at the end of the fiscal year	$	2,647	$	3,161	$	3,990

Long-Term Debt - Term Loan (Details) - USD ($)		3 Months Ended	12 Months Ended
Long-Term Debt - Term Loan (Details) - USD ($)	Feb. 23, 2022	Mar. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Repayment of long term debt			$ 21,250,000	$ 13,250,000	$ 286,447,000
Amount outstanding, net of discount and issuance costs			281,521,000	301,201,000
Discount and debt issuance costs			6,542,000	$ 8,112,000
Term Loan Facility
Debt Instrument [Line Items]
Amount borrowed	$ 325,000,000
Repayment amount to be paid quarterly	$ 812,500
Debt Instrument Annual Periodic Principal Payment			3,300,000
Principal payments calculated as percent of outstanding principal	0.25%
Mandatory prepayment rate as a percentage of excess cash flow	50.00%
Mandatory prepayment rate as a percentage of non-permitted indebtedness	100.00%
Repayment of long term debt		$ 18,000,000
Amount outstanding, net of discount and issuance costs			281,500,000
Debt issuance costs			3,600,000
Unamortized discount			$ 2,900,000
Effective interest rate at balance sheet date			8.61%
Term Loan Facility \| SOFR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	3.75%
Term Loan Facility \| SOFR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.00%
Term Loan Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Term Loan Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 174,738	$ 160,177
Less: Accumulated depreciation	(61,890)	(47,163)
Property and equipment, net	112,848	113,014
Depreciation and amortization expense	16,500	13,800	$ 10,000
Loss on sales and disposal of Property and Equipment	100	300	$ 200
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,684	2,758
Building and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	38,567	38,994
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	52,715	49,257
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,059	2,061
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	19,332	10,389
Molds and dyes
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	23,006	21,838
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	13,744	12,358
Vehicles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,134	4,923
Construction in progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 17,497	$ 17,599

Long-Term Debt - Revolving Credit Facility (Details) - Revolving Credit Facility - USD ($) $ in Millions	Feb. 23, 2022	Dec. 31, 2024
Debt Instrument [Line Items]
Commitment fee rate range, depending on leverage ratio	0.375%
Debt issuance costs	$ 0.8
Amount outstanding		$ 0.0
Remaining borrowing capacity		$ 75.0
Minimum
Debt Instrument [Line Items]
Commitment fee rate range, depending on leverage ratio	0.25%
Maximum
Debt Instrument [Line Items]
Commitment fee rate range, depending on leverage ratio	0.50%
SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	3.50%
Canadian Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
EURIBOR or AUD Rate
Debt Instrument [Line Items]
Basis spread on variable rate	3.50%

Condensed Financial Information of Registrant (Parent Company Only) - Additional information (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Jan. 11, 2022	Apr. 27, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.0001		$ 0.0001	$ 0.0001
Proceeds from Issuance of Common Stock			$ 0	$ 0	$ 257,663
Underwriting fees			0	0	11,437
Value of shares issued during the period					269,100
Net cash provided by financing activities			$ (22,021)	$ (13,875)	3,775
Latham Investment Holdings, LP
Condensed Financial Statements, Captions [Line Items]
Number of shares repurchased during the period	13,800,000
Sale of common stock (in shares)	13,800,000
Common stock, par value	$ 0.0001		$ 0.0001	$ 0.0001
Proceeds from Issuance of Common Stock	$ 257,700		$ 0	$ 0	257,663
Underwriting fees	$ 11,400
Net cash provided by financing activities			$ 0	$ 0	$ (23,038)
Latham Investment Holdings, LP \| IPO
Condensed Financial Statements, Captions [Line Items]
Sale of common stock (in shares)		23,000,000
Net proceeds from the IPO		$ 399,300
Latham Investment Holdings, LP \| Underwriters Option
Condensed Financial Statements, Captions [Line Items]
Sale of common stock (in shares)	1,800,000	3,000,000
Offering price per share	$ 19.5
Latham Investment Holdings, LP \| Repurchase Program
Condensed Financial Statements, Captions [Line Items]
Number of shares repurchased during the period				4,483,620
Net cash provided by financing activities				$ 23,000

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

14.INCOME TAXES


	Year Ended
	December 31,
	2024		2023		2022
(Loss) income before income taxes:
Domestic	$	559	$	(16,303)	$	2,574
Foreign		(9,299)		6,243		11,147
Total	$	(8,740)	$	(10,060)	$	13,721

Current and deferred income tax expense (benefit) is composed of the following (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Current income tax expense:
Domestic	$	10,254	$	1,225	$	22,133
Foreign		544		788		1,084
Total current tax expense		10,798		2,013		23,217
Deferred income tax (benefit) expense:
Domestic		(8,303)		(9,965)		(6,020)
Foreign		6,625		280		2,218
Total deferred tax (benefit)		(1,678)		(9,685)		(3,802)
Total income tax expense (benefit)	$	9,120	$	(7,672)	$	19,415

The reconciliation of the statutory federal income tax rate with the Company’s effective income tax rate is as follows (% of Loss Before Income Taxes):


	Year Ended		Year Ended		Year Ended
	December 31, 2024		December 31, 2023		December 31, 2022
Federal statutory tax rate	21.0	%	21.0	%	21.0	%
Foreign rate differential	5.7	%	(5.6)	%	4.1	%
State income tax, net of federal benefit	(16.8)	%	14.0	%	14.0	%
Uncertain tax positions	—	%	101.7	%	2.1	%
Change in valuation allowance	(99.6)	%	(30.9)	%	—	%
Transaction costs not deductible for tax	—	%	—	%	18.8	%
Other non-deductible expense	—	%	(6.8)	%	—	%
Non-deductible stock compensation	(0.4)	%	(24.1)	%	67.3	%
Canadian branch income	10.1	%	1.3	%	8.8	%
Foreign tax restructuring	(16.0)	%	21.3	%	—	%
Other permanent items	(8.4)	%	(15.7)	%	5.4	%
	(104.4)	%	76.2	%	141.5	%

The following table summarizes changes in the valuation allowance (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Balance at January 1	$	3,114	$	—	$	—
Additions		8,700		3,114		—
Deductions		(3,114)		—		—
Balance at December 31	$	8,700	$	3,114	$	—

As of December 31, 2024, after consideration of all evidence, both positive and negative, management concluded that it is not more likely than not that it would be able to realize all of its deferred tax assets of one of its foreign subsidiaries and that a valuation allowance of $8.7 million was necessary as of December 31, 2024. In the prior year, there was a valuation allowance for the Company's capital loss carryforward deferred tax asset which was reversed in the current year because the capital loss carryforward expired. It is reasonably possible that the Company’s estimates of future taxable income may change within the next 12 months, resulting in a change to the valuation allowance in one or more jurisdictions.

The Inflation Reduction Act (“IRA”) was passed into law on August 16, 2022. The key provisions from the IRA include the implementation of a 15% alternative book income minimum tax, an excise tax on stock buybacks, and significant tax incentives for energy and climate initiatives. The Company evaluated the key provisions under the IRA and concluded that the provisions are not applicable to Latham for year ended December 31, 2024.

The Organization for Economic Cooperation and Development introduced a framework to implement a global 15% minimum corporate tax (“Pillar Two”). The European Union issued a directive to its member states to enact the Pillar Two in their local laws effective after December 2023. A number of other countries have implemented similar legislation with effective dates for the year ended 2024. The Company has evaluated the impact of Pillar Two in the jurisdictions in which the Company operates and has determined no additional top up tax is required.

Deferred Income Taxes

Deferred income taxes recognize the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the carrying amounts used for income tax purposes, and the impact of available net operating loss and tax credit carryforwards. These items are stated at the enacted tax rates that are expected to be in effect when taxes are actually paid or recovered.

Deferred income tax assets and liabilities recorded on the consolidated balance sheets as of December 31, 2024 and 2023 consist of the following (in thousands):


	December 31,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	10,001	$	6,715
Capital loss carryforwards		—		3,114
Inventories, net		3,082		3,234
Warranty reserve		469		595
Trade receivables		1,375		1,737
Profits interest units		3,437		2,581
Section 163(j)		4,902		2,345
Accrued expenses		350		509
Transaction costs		1,180		1,052
Future branch taxes		—		(1,691)
Operating lease liabilities		6,968		—
Other		2,276		2,082
Gross deferred tax assets		34,040		22,273
Valuation allowance		(8,700)		(3,114)
Total deferred tax asset		25,340		19,159
Less: Foreign deferred tax benefit		(729)		(7,485)
Total domestic deferred tax asset		24,611		11,674
Deferred tax liabilities:
Intangible assets		(42,702)		(45,150)
Property and equipment, net		(6,056)		(5,656)
Prepaid expenses and other		(1,165)		(644)
Investments in partnerships		(318)		(312)
Operating lease right-of-use assets		(6,717)		—
Total deferred tax liabilities		(56,958)		(51,762)
Net deferred tax liabilities	$	(32,347)	$	(40,088)

ASC 740, Income Taxes, requires that the Company reduce its deferred income tax assets by a valuation allowance if, based on the weight of the available evidence, it is more likely than not that all or a portion of a deferred tax asset will not be realized.

During 2024, the Company filed an amended return to account for the tax treatment of leases and as a result has recorded a deferred tax asset for operating lease liabilities and a deferred tax liability for operating lease right-of-use assets as of December 31, 2024.

The Company reinvests earnings of foreign operations indefinitely and, accordingly, does not provide for income taxes that could result from the remittance of such earnings. The Company acknowledges that it would need to accrue and pay taxes should it decide to repatriate cash generated from earnings of its foreign subsidiaries that are considered indefinitely reinvested but expects that the potential tax liability would be insignificant.

Tax Uncertainties

As of December 31, 2023, the statute of limitations expired with respect to the Company’s 2019 U.S. Federal income tax return for which the uncertain tax position liability had been recorded. As a result of the expiration of the statute of limitations, the Company released the uncertain tax position liability with a corresponding net tax benefit of $7.5 million (a gross tax benefit of $10.6 million from the liability release offset by tax expense of $3.1 million from establishing a valuation allowance on an associated deferred tax asset).

The Company is subject to income taxes in the U.S., certain states, and numerous foreign jurisdictions. While the Company believes it has adequately provided for all tax positions, amounts asserted by taxing authorities could be greater than its accrued position. Accordingly, additional provisions on federal and foreign tax-related matters could be recorded in the future as revised estimates are made or the underlying matters are settled or otherwise resolved.

The Company files a federal consolidated tax return that includes all U.S. entities as well several combined/consolidated state tax returns and separate state tax returns. In addition, the Company files Canadian and Australian tax returns for its Canadian, Australian, and New Zealand entities. The Company is subject to the regular examination of our income tax returns by tax authorities. The Company does not have any federal audits in process. Examinations in material jurisdictions or changes in laws, rules, regulations, or interpretations by local taxing authorities could result in impacts to tax years open under statute or to foreign operating structures currently in place. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations or changes in laws, rules, regulations, or interpretations to determine the adequacy of our provision for taxes. It is possible the outcomes from these examinations will have a material adverse effect on our financial condition and operating results.

Tax years from the fiscal year ended December 31, 2021 through present are open for examination in the U.S. Tax years and tax periods ended December 31, 2020 through present are open for state examination. The Latham 2019 Illinois return is currently under examination by the state of Illinois. Tax years and tax periods from June 30, 2021 through present are currently open for examination in Canada. Tax years and tax periods from June 30, 2020 through present are currently open for examination in Australia. Tax years and tax periods from March 31, 2020 through present are currently open for examination in New Zealand.

The following is a reconciliation of the beginning and ending amount of uncertain tax positions (in thousands):


	Year Ended
	December 31,
	2024		2023
Balance at the beginning of the year	$	—	$	10,303
Gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during a prior period		—		379
Gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during the current period		—		—
The amounts of decreases in the unrecognized tax benefits relating to settlements with taxing authorities		—		—
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		—		(10,682)
Balance at the end of the year	$	—	$	—

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Inventories, Net

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories, Net

7.INVENTORIES, NET

Inventories, net consisted of the following (in thousands):


	December 31,
	2024		2023
Raw materials	$	49,322	$	55,081
Finished goods		27,779		42,056
	$	77,101	$	97,137

Income Taxes - Components of income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
(Loss) income before income taxes:
Domestic	$ 559	$ (16,303)	$ 2,574
Foreign	(9,299)	6,243	11,147
Total	$ (8,740)	$ (10,060)	$ 13,721

- Definition

Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.

+ References + Details

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of net sales by geography

Net sales by geography is based on the delivery address of the customer as specified in purchase order. Net sales by geographic area was as follows (in thousands):


	December 31,
	2024		2023		2022
Net sales
United States	$	429,336	$	475,024	$	558,827
Canada		48,138		58,443		91,579
Australia		21,455		22,534		25,827
New Zealand		5,721		6,030		9,346
Other		3,870		4,461		10,157
Total	$	508,520	$	566,492	$	695,736

Schedule of long-lived assets by geographic area

Our long-lived assets by geographic area, which consist of property and equipment, net were as follows (in thousands):


	December 31,
	2024		2023
Long-lived assets
United States	$	72,827	$	68,148
Canada		34,882		39,469
Australia		4,018		3,980
New Zealand		1,121		1,417
Total	$	112,848	$	113,014

Leases - Lease expense (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Components of lease expense:
Operating lease expense	$ 8,613	$ 9,350
Finance lease amortization of assets	848	679
Finance lease interest on lease liabilities	316	296
Short-term lease expense	433	319
Variable lease expense	562	1,180
Total lease expense	$ 10,772	$ 11,824

Summary of Significant Accounting Policies - Trade Receivables, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Allowance for bad debt	$ 5,869	$ 7,544	$ 3,161	$ 2,393

Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

6.GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The following table presents the changes in the carrying value of goodwill during the years ended December 31, 2024 and 2023 (in thousands):


	Amount
Balance as of December 31, 2022	$	131,383
Foreign currency translation adjustment		(20)
Balance as of December 31, 2023		131,363
Acquisition		22,047
Foreign currency translation adjustment		(785)
Balance as of December 31, 2024	$	152,625

The Company performed an annual test for goodwill impairment in the fourth quarter of the year ended December 31, 2024 in accordance with Step 0 of ASC 350 and determined that goodwill was not impaired. The Company performed an annual test for goodwill impairment in the fourth quarter of the year ended December 31, 2023 in accordance with Step 1 of ASC 350 and determined that goodwill was not impaired.

Intangible Assets

Intangible assets, net as of December 31, 2024 consisted of the following (in thousands):


	December 31, 2024
	Gross		Foreign
	Carrying		Currency		Accumulated		Net
	Amount		Translation		Amortization		Amount
Trade names and trademarks	$	148,100	$	(592)	$	36,183	$	111,325
Patented technology		16,126		(9)		10,303		5,814
Technology		13,000		—		2,673		10,327
Pool designs		13,628		(293)		3,909		9,426
Franchise relationships		1,187		—		1,187		—
Dealer relationships		235,176		(3)		79,397		155,776
Order backlog		2,020		—		1,775		245
Non-competition agreements		2,476		—		2,476		—
	$	431,713	$	(897)	$	137,903	$	292,913

Intangible assets, net as of December 31, 2023 consisted of the following (in thousands):


	December 31, 2023
	Gross		Foreign
	Carrying		Currency		Accumulated		Net
	Amount		Translation		Amortization		Amount
Trade names and trademarks	$	148,100	$	72	$	29,583	$	118,589
Patented technology		16,126		1		8,713		7,414
Technology		13,000		—		1,806		11,194
Pool designs		13,628		35		2,973		10,690
Franchise relationships		1,187		—		1,187		—
Dealer relationships		197,376		—		62,470		134,906
Order backlog		1,600		—		1,600		—
Non-competition agreements		2,476		—		2,476		—
	$	393,493	$	108	$	110,808	$	282,793

The Company recognized $27.1 million, $26.5 million, and $28.2 million of amortization expense related to intangible assets during the years ended December 31, 2024, 2023, and 2022, respectively.

The Company estimates that amortization expense related to definite-lived intangible assets will be as follows in each of the next five fiscal years and thereafter (in thousands):


	Estimated Future
	Amortization
Fiscal Year Ending	Expense
2025	$	28,704
2026		28,459
2027		28,459
2028		27,501
2029		22,131
Thereafter		157,659
	$	292,913

Goodwill and Intangible Assets, Net - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 131,363	$ 131,383
Acquisition	22,047
Foreign currency translation adjustment	(785)	(20)
Ending balance	$ 152,625	$ 131,363

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Statement of Income Captions [Line Items]
Net Income (Loss)	$ (17,860)	$ (2,388)	$ (5,694)
Equity in other comprehensive (loss) income of subsidiary	(1,511)	(6)	(3,903)
Comprehensive income loss	(19,371)	(2,394)	(9,597)
Latham Investment Holdings, LP
Condensed Statement of Income Captions [Line Items]
Net Income (Loss)	(17,860)	(2,388)	(5,694)
Equity in other comprehensive (loss) income of subsidiary	(1,511)	(6)	(3,903)
Comprehensive income loss	$ (19,371)	$ (2,394)	$ (9,597)

- Definition

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Loss Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Loss Per Share

18.NET LOSS PER SHARE

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share data):


	Year Ended December 31,
	2024		2023		2022
Numerator:
Net loss attributable to common stockholders	$	(17,860)	$	(2,388)	$	(5,694)
Denominator:
Weighted-average common shares outstanding
Basic		115,434,828		112,899,586		113,245,421
Diluted		115,434,828		112,899,586		113,245,421
Net loss per share attributable to common stockholders:
Basic	$	(0.15)	$	(0.02)	$	(0.05)
Diluted	$	(0.15)	$	(0.02)	$	(0.05)

The following table includes the number of shares that may be dilutive common shares in the future that were not included in the computation of diluted net loss per share because the effect was anti-dilutive:


	Year Ended December 31,
	2024	2023	2022
Restricted stock awards	10,722	697,822	1,904,037
Restricted stock units	22,275	188,548	202,622
Stock options	1,410,382	1,702,316	1,757,336
Stock appreciation rights	326,395	491,386	—
Performance stock units	20,781	—	—

Leases - Operating and finance lease right-of-use assets and liabilities and Supplemental information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Lease right-of-use assets:
Operating leases	$ 28,259	$ 30,788
Finance leases	$ 3,261	$ 3,912
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Total lease right-of-use assets	$ 31,520	$ 34,700
Lease-related liabilities
Operating leases, Current	7,176	7,133
Finance leases, Current	$ 779	$ 746
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Operating leases, Non-current	$ 22,138	$ 24,787
Finance leases, Non-current	$ 2,678	$ 3,285
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total finance lease liabilities	$ 32,771	$ 35,951
Weighted-average remaining lease term (years)
Finance leases	4 years 4 months 24 days	5 years 2 months 12 days
Operating leases	5 years 3 months 18 days	5 years 8 months 12 days
Weighted-average discount rate
Finance leases	8.20%	8.20%
Operating leases	5.40%	5.10%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 7,134	$ 7,551
Maximum
Lessee, Lease, Description [Line Items]
Term of lease	11 years
Minimum
Lessee, Lease, Description [Line Items]
Term of lease	1 year

Stock-Based Compensation - Restricted Stock Units (Details) - Restricted Stock Units	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Shares
Balance at beginning \| shares	2,235,479
Granted \| shares	2,992,704
Vested \| shares	(762,510)
Forfeited \| shares	(264,914)
Balance at ending \| shares	4,200,759
Weighted Average Grant Date Fair Value
Balance at beginning \| $ / shares	$ 3.6
Granted \| $ / shares	2.97
Vested \| $ / shares	3.83
Forfeited \| $ / shares	3.43
Balance at ending \| $ / shares	$ 3.12

Goodwill and Intangible Assets, Net - Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2025	$ 28,704
2026	28,459
2027	28,459
2028	27,501
2029	22,131
Thereafter	157,659
Net Amount	$ 292,913	$ 282,793

Related Party Transactions

12 Months Ended

Dec. 31, 2024

Related Party Transactions

19.RELATED PARTY TRANSACTIONS

Expense Reimbursement

The Company entered into a Stockholders’ Agreement with the Sponsor and Wynnchurch Capital, L.P. on April 27, 2021. The Stockholders’ Agreement requires the Company to reimburse the Sponsor and Wynnchurch Capital, L.P. the reasonable out-of-pocket costs and expenses in connection with monitoring and overseeing their investment in the Company.

The Company had less than $0.1 million in transactions with the Sponsor or Wynnchurch Capital, L.P. during the years ended December 31, 2024, 2023 and 2022.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Composition of Certain Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure Text Block Supplement [Abstract]

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accrued expenses and other current liabilities consisted of the following (in thousands):


	December 31,
	2024		2023
Accrued sales rebates	$	13,545	$	10,170
Accrued product warranties		2,389		2,889
Accrued incentives		8,678		1,270
Accrued vacation		2,509		2,310
Accrued payroll		4,405		4,893
Accrued interest		4,153		2,955
Income taxes payable		—		1,682
Deferred revenue		3,794		3,787
Other accrued expenses		7,937		10,735
Total accrued expenses and other current liabilities	$	47,410	$	40,691

Schedule for allowance of bad debt activity

The allowance for bad debt consisted of the following (in thousands):


	Year Ended
	December 31,
	2024		2023		2022
Balance at the beginning of the year	$	7,544	$	3,161	$	2,393
Bad debt expense		2,069		5,379		2,011
Write-offs, net of recoveries		(3,744)		(996)		(1,243)
Balance at the end of the year	$	5,869	$	7,544	$	3,161

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of components of the Company's outstanding debt obligations

The components of the Company’s outstanding debt obligations consisted of the following (in thousands):


	December 31,
	2024		2023
Term Loan	$	288,063	$	309,313
Revolving Credit Facility		—		—
Less: Unamortized discount and debt issuance costs		(6,542)		(8,112)
Total debt		281,521		301,201
Less: Current portion of long-term debt		(3,250)		(21,250)
Total long-term debt	$	278,271	$	279,951

Schedule of principal payments due on the outstanding debt

Principal payments due on the outstanding debt in the next five fiscal years, excluding any potential payments based on excess cash flow levels, are as follows (in thousands):



Fiscal Year Ending	Term Loan
2025	$	3,250
2026		3,250
2027		3,250
2028		3,250
2029		275,063
	$	288,063

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash	$ 56,398	$ 102,763
Trade receivables, net	32,299	30,407
Inventories, net	77,101	97,137
Income tax receivable	3,964	983
Prepaid expenses and other current assets	8,536	7,327
Total current assets	178,298	238,617
Property and equipment, net	112,848	113,014
Equity method investment	24,891	25,940
Deferred tax assets	729	7,485
Operating lease right-of-use assets	28,259	30,788
Goodwill	152,625	131,363
Intangible assets, net	292,913	282,793
Other assets	3,644	5,003
Total assets	794,207	835,003
Current liabilities:
Current maturities of long-term debt	3,250	21,250
Current operating lease liabilities	7,176	7,133
Accrued expenses and other current liabilities	47,410	40,691
Total current liabilities	70,977	86,206
Long-term debt, net of discount, debt issuance costs, and current portion	278,271	279,951
Deferred income tax liabilities, net	32,347	40,088
Non-current operating lease liabilities	22,138	24,787
Other long-term liabilities	3,252	4,771
Total liabilities	406,985	435,803
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of both December 31, 2024 and December 31, 2023; no shares issued and outstanding as of both December 31, 2024 and December 31, 2023	0	0
Common stock, $0.0001 par value; 900,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 115,764,839 and 114,871,782 shares issued and outstanding, as of December 31, 2024 and December 31, 2023, respectively	12	11
Additional paid-in capital	467,076	459,684
Accumulated deficit	(74,816)	(56,956)
Accumulated other comprehensive loss	(5,050)	(3,539)
Total stockholders' equity	387,222	399,200
Total liabilities and stockholders' equity	794,207	835,003
Related Party
Current liabilities:
Accounts payable	0	8
Nonrelated Party
Current liabilities:
Accounts payable	$ 13,141	$ 17,124

Summary of Significant Accounting Policies - Inventories, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Reserves for estimated slow moving products or obsolescence	$ 8.3	$ 9.1

Stock-Based Compensation - Valuation (Details)	12 Months Ended
Stock-Based Compensation - Valuation (Details)	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Risk-free interest rate	3.54%	2.06%
Expected volatility	40.34%	39.68%
Expected term (in years)	6 years 3 months	6 years 3 months
Expected dividend yield	0.00%	0.00%

Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net loss per share attributable to common stockholders:
Net (loss) income per share attributable to common stockholders - basic	$ (0.15)	$ (0.02)	$ (0.05)
Net (loss) income per share attributable to common stockholders - diluted	$ (0.15)	$ (0.02)	$ (0.05)
Weighted-average common shares outstanding - basic	115,434,828	112,899,586	113,245,421
Weighted-average common shares outstanding - diluted	115,434,828	112,899,586	113,245,421
Latham Investment Holdings, LP
Condensed Income Statements, Captions [Line Items]
Equity in net (loss) income of subsidiary	$ (17,860)	$ (2,388)	$ (5,694)
Net (loss) income attributable to common stockholders	$ (17,860)	$ (2,388)	$ (5,694)
Net loss per share attributable to common stockholders:
Net (loss) income per share attributable to common stockholders - basic	$ (0.15)	$ (0.02)	$ (0.05)
Net (loss) income per share attributable to common stockholders - diluted	$ (0.15)	$ (0.02)	$ (0.05)
Weighted-average common shares outstanding - basic	115,434,828	112,899,586	113,245,421
Weighted-average common shares outstanding - diluted	115,434,828	112,899,586	113,245,421

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Long-Term Debt - Interest rate risk (Details) - Interest rate swap - USD ($) $ in Millions	Mar. 10, 2023	Feb. 28, 2022
Derivative [Line Items]
Fixed borrowing rate	4.3725%	0.496%
Derivative notional amount	$ 161.0	$ 200.0

Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

20. SEGMENT REPORTING

The Company conducts business as one operating and reportable segment that designs, manufactures, and markets in-ground swimming pools, pool covers, and pool liners. The Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”), reviews financial information presented on a consolidated basis for purposes of assessing financial performance and allocating resources.

The Company reports consolidated net income (loss), as management believes that is the measure most consistent with the measurement principles in the Company’s consolidated financial statements. Consolidated net income (loss) is used by the CODM predominantly in the annual budget and forecasting, including consideration of budget-to-actual variances when making decisions about the allocation of operating and capital resources.

Operations of the Company’s single segment consisted of the following (in thousands):



	Year Ended December 31,
	2024		2023		2022
Net sales	$	508,520	$	566,492	$	695,736
Other cost of sales⁽¹⁾		339,078		398,293		465,230
Other selling, general and administrative expense⁽²⁾		93,138		86,385		93,500
Depreciation		16,494		13,817		9,995
Amortization⁽³⁾		27,952		26,934		28,180
Stock-based compensation expense		7,392		18,804		50,634
Strategic initiative costs⁽⁴⁾		3,329		4,092		3,948
Acquisition and integration related costs⁽⁵⁾		2,348		911		326
Restructuring charges⁽⁶⁾		512		3,727		1,607
Interest expense, net		24,840		30,916		15,753
Odessa fire⁽⁷⁾		-		(2,600)		869
Other expense (income), net		6,237		(1,004)		1,301
Earnings from equity method investment		(4,060)		(3,723)		(4,230)
Income tax expense (benefit)		9,120		(7,672)		19,415
Loss on extinguishment of debt		-		-		3,465
Underwriting fees related to offering of common stock		-		-		11,437
Net loss	$	(17,860)	$	(2,388)	$	(5,694)

(1) Other cost of sales includes total cost of sales (as presented in the statements of operations) excluding depreciation, stock-based compensation, restructuring charges, and strategic initiative costs.

(2) Other selling, general and administrative expense includes total selling, general and administrative expense (as presented in the statements of operations) excluding depreciation, amortization, stock-based compensation, strategic initiative costs, acquisition and integration related costs, and Odessa fire costs.

(3) inclusive of finance lease amortization.

(4) Represents fees paid to external consultants and other expenses for our strategic initiatives

(5) Represents acquisition and integration costs as well as other costs related to potential transactions.

(6) Represents costs related to a cost reduction plan that includes severance and other costs for our executive management changes and additional costs related to our cost reduction plans, which include further actions to reduce our manufacturing overhead by reducing headcount in addition to facility shutdowns.

(7) Represents costs incurred and insurance recoveries related to a production facility fire in Odessa, Texas.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

+ Details

Property and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

8.PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following (in thousands):


	December 31,
	2024		2023
Land	$	2,684	$	2,758
Building and improvements		38,567		38,994
Machinery and equipment		52,715		49,257
Furniture and fixtures		2,059		2,061
Computer equipment and software		19,332		10,389
Molds and dyes		23,006		21,838
Leasehold improvements		13,744		12,358
Vehicles		5,134		4,923
Construction in progress		17,497		17,599
		174,738		160,177
Less: Accumulated depreciation		(61,890)		(47,163)
	$	112,848	$	113,014

Depreciation and amortization expense related to property and equipment during the years ended December 31, 2024, 2023 and 2022 was $16.5 million, $13.8 million, and $10.0 million, respectively. Construction in progress recorded as of December 31, 2024 and 2023 primarily related to an ongoing effort to increase fiberglass molds and fiberglass production capacity as well as our ongoing digital transformation project costs. The Company recorded aggregate losses on sales and disposals of property and equipment of $0.1 million, $0.3 million, and $0.2 million during the years ended December 31, 2024, 2023 and 2022, respectively.

Income Taxes - Uncertain tax positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Balance at the beginning of the year	$ 0	$ 10,303
Gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during a prior period	0	379
Gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during the current period	0	0
The amounts of decreases in the unrecognized tax benefits relating to settlements with taxing authorities	0	0
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	0	(10,682)
Balance at the end of the year	$ 0	$ 0

Income Taxes - Current and deferred income tax (benefit) expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current income tax expense:
Domestic	$ 10,254	$ 1,225	$ 22,133
Foreign	544	788	1,084
Total current tax expense	10,798	2,013	23,217
Deferred income tax (benefit) expense:
Domestic	(8,303)	(9,965)	(6,020)
Foreign	6,625	280	2,218
Total deferred tax (benefit)	(1,678)	(9,685)	(3,802)
Total income tax (benefit) expense	$ 9,120	$ (7,672)	$ 19,415

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Equity Method Investment

12 Months Ended

Dec. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investment

4.EQUITY METHOD INVESTMENT

On October 30, 2020, the Company entered into a securities purchase agreement to purchase 28% of the common units of Premier Pools & Spas for $25.4 million. On August 6, 2021, the Company entered into a securities purchase agreement, together with Premier Holdco LLC, Premier Pools Management Corp. Holdco, Premier Franchise Management Holdco, PFC Holdco, and PPSF, LLC, pursuant to which Premier Group Holdings Inc., an affiliate of Wynnchurch Capital, L.P., acquired 29.8% of the common units of Premier Pools & Spas in aggregate from all sellers, including the Company. Sellers who were not related parties of Wynnchurch Capital, L.P. or the Company determined the purchase price per common unit paid by Premier Group Holdings Inc., indicating the amount paid for the common units of Premier Pools & Spas reflects the price that would be paid in an arm’s-length transaction. As a result of the transaction, the Company received cash proceeds of $6.8 million and recorded a gain on the sale of equity method investment of $3.9 million. The Company’s post-sale ownership interest in Premier Pools & Spas was 20.1% following such transaction. On December 17, 2021, Premier Pools & Spas issued additional non-voting common units to Premier Group Holdings Inc. As a result of the transaction, the Company recorded a gain on the sale of equity method investment of $1.0 million. The Company’s ownership interest in Premier Pools & Spas after the issuance of additional non-voting common units is 18.2% while its voting interest remains 20.1%.

The Company historically has concluded that it held common stock of Premier Pools & Spas and had the ability to exercise significant influence over Premier Pools & Spas but did not have a controlling financial interest. As required when there is a change in facts or circumstances, the Company reassessed its ability to exercise significant influence during the quarter ended December 31, 2022. The Company concluded that it no longer had the ability to exercise significant influence. However, the Company also considered that it has an ownership interest of greater than 5% in Premier Pools & Spas, which is a limited liability company with specific ownership accounts. Accordingly, because of the legal form of the investee, the Company continues to account for this investment using the equity method of accounting since it is not required to demonstrate the ability to exercise significant influence under the relevant guidance. The Company’s proportionate share of the earnings or losses of the investee are reported as a separate line in the consolidated statements of operations.

Premier Pools & Spas is a holding company for its manufacturing and franchising companies including PFC LLC, Premier Franchise Management LLC, Premier Pools Management LLC, and Premier Fiberglass LLC (the “Premier Companies”). The Premier Companies are a leading swimming pool-building brand that uses its franchisee network to sell and install pools around the United States.

In connection with Latham’s investment in Premier Pools & Spas, the Company entered into an exclusive supply agreement with Premier Pools & Spas, the Premier Companies, and Premier Pools & Spas’ franchisees (“Premier Franchisees”) (together, the “Customer”). In February 2024, a new supply agreement was entered into with an effective date of January 1, 2024. Premier Pools & Spas does not consolidate the operations of the Premier Franchisees. Per the supply agreement, Latham paid volume and growth rebates based on purchases of Latham fiberglass products by Premier Franchisees. The January 1, 2024 supply agreement terminated effective January 16, 2025 and was replaced with a non-exclusive, preferred supplier agreement.

As of December 31, 2024 and 2023, the Company’s carrying amount for the equity method investment in Premier Pools & Spas was $24.9 million and $25.9 million, respectively. During the year ended December 31, 2024, Premier Pools & Spas paid the Company dividends of $5.1 million that are presented on the consolidated statement of cash flows as distribution received from equity method investment. During the year ended December 31, 2023, Premier Pools & Spas paid the Company dividends of $2.9 million that are presented on the consolidated statement of cash flows

as distribution received from equity method investment. The Company recorded its interest in net earnings of Premier Pools & Spas of $4.1 million and $3.7 million for the years ended December 31, 2024 and 2023, respectively, which included basis difference adjustments of $0.2 million and $0.2 million, respectively.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

15.COMMITMENTS AND CONTINGENCIES

Litigation

In the ordinary course of its business, the Company is involved in various legal proceedings involving contractual and employment claims, personal injury claims, intellectual property claims, product liability claims, and warranty claimes. The Company does not believe there are any pending legal proceedings that will have a material impact on the Company’s financial position, results of operations, or cash flows. At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. The Company expenses as incurred the costs related to such legal proceedings.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Basis of Presentation

The accompanying consolidated financial statements and notes have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company’s consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company bases its estimates on historical experience, known trends, and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are evaluated on an ongoing basis and revised as there are changes in circumstances, facts, and experience. Changes in estimates are recorded in the period in which they become known.

Seasonality

Although the Company generally has demand for its products throughout the year, its business is seasonal and weather is one of the principal external factors affecting the business. In general, net sales and net income are highest (or net loss is the lowest) during the second and third quarters, representing the peak months of swimming pool use, pool installation, and remodeling and repair activities. Severe weather may also affect net sales in all periods.

Leases

On January 1, 2022, the Company adopted ASU 2016-02, “Leases (Topic 842),” and the related amendments The optional transition method of adoption was used, in which the cumulative effect of initially applying the new standard to existing leases was $0.3 million to record the operating lease right-of-use assets and the related liabilities as of January 1, 2022. Under this method of adoption, the comparative information has not been revised and continues to be reported under the previously applicable lease accounting guidance.

For leases with initial terms greater than 12 months, the Company considers these right-of-use assets and records the related asset and obligation at the present value of lease payments over the term. For leases with initial terms equal to or less than 12 months, the Company does not consider them as right-of-use assets and instead considers them short-term lease costs that are recognized on a straight-line basis over the lease term. The Company’s leases may include escalation clauses, renewal options and/or termination options that are factored into the Company’s determination of lease term and lease payments when it is reasonably certain the option will be exercised. The Company has elected to take the practical expedient and not separate lease and non-lease components of contracts. The Company estimates an incremental borrowing rate to discount the lease payments based on information available at lease commencement because the implicit rate of the lease is generally not known.

The Company leases vehicles, manufacturing facilities, office space, land, and equipment under operating leases. The Company determines if an arrangement is a lease at inception. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company does not have material finance leases.

Revenue Recognition

Under ASC 606, Revenue from Contracts with Customers (“ASC 606”), the Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when, or as, the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract, determines which goods or services are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when, or as, that performance obligation is satisfied.

The Company sells its products through business-to-business distribution channels. With the exception of its extended service warranties and custom product contracts, the Company recognizes its revenue at a point in time when control of the promised goods is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods. Control of the goods is considered to have been transferred upon shipping or upon arrival at the customer’s destination, depending on the terms of the purchase order. Revenue that is derived from its extended service warranties, which are separately priced and sold, is recognized over the term of the contract. Refer to “Warranties” within this same Note for further information.

Revenue from custom products is recognized over time utilizing an input method that compares the cost of cumulative work-in-process to date to the most current estimates for the entire cost of the performance obligation. Custom products are generally delivered to the customer within three days of receipt of the purchase order.

Each product shipped is considered to be one performance obligation. For each product shipped, the transaction price by product is specified in the purchase order. The Company recognizes revenue on the transaction price less any estimated rebates, cash discounts, or other sales incentives. Customer rebates, cash discounts, and other sales incentives are estimated by applying the portfolio approach using the most-likely-amount method and are recorded as a reduction to revenue. Estimates are updated each reporting period and any changes are allocated to the performance obligations on the same basis as at inception. The Company believes the most-likely-amount method best predicts the amount of consideration to which it will be entitled.

The Company has elected to account for shipping and handling costs as activities to fulfill the promise to transfer the goods. As a result of this accounting policy election, the Company does not consider shipping and handling activities as promised services to its customers. Therefore, shipping and handling costs billed to customers are recorded in net sales, and the related costs in cost of sales.

The Company does not engage in contracts greater than one year, and therefore does not have any contract costs capitalized as of December 31, 2024, and 2023.

As a practical expedient, the Company does not adjust the promised amount of consideration for the effects of a significant financing component since the period between the transfer of a promised good to a customer and when the customer pays for that product is one year or less.

Warranties

The Company offers limited assurance-type warranties on most of its products, which assure that the product will comply with agreed upon specifications. These assurance-type warranties are not separately priced and are not considered separate performance obligations. The Company also offers optional extended service contracts that are separately priced. The Company recognizes revenue related to extended service contracts over the term of the contract.

The Company’s assurance-type warranties generally range from five years to lifetime warranties. At the time product revenue is recognized, the Company records a liability for estimated costs that may be incurred under its warranties. The costs are estimated based on historical experience and any specific warranty issues that have been identified. The accuracy of the estimate of additional costs is dependent on the number and cost of future claims submitted during the warranty periods. Although historical warranty costs have been within expectations, there can be no assurance that future warranty costs will not exceed historical amounts. The Company believes that the reserves established for estimated and probable future product warranty claims are adequate. The Company periodically assesses the adequacy of its recorded warranty liability and adjusts the balance as necessary. Warranty costs are recorded within cost of sales on the consolidated statements of operations. The Company’s provision for product warranties was recorded within accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheets as of December 31, 2024 and 2023.

Cost of Sales

Cost of sales includes the cost of materials and all costs to make products saleable, such as labor, materials, inbound freight, including inter-plant freight, purchasing, and receiving costs, operating lease costs related to distribution and manufacturing facilities, and warehousing and distributions costs. In addition, all depreciation expense associated with assets used to manufacture products and make them saleable is included in cost of sales. The Company records shipping and handling costs associated with outbound freight as cost of sales when the related revenue is recognized in the consolidated statements of operations.

Trade Receivables, Net

Trade receivables are recorded at the original invoiced amount and do not bear interest. The Company maintains an allowance for bad debt. The allowance for bad debt is based on the best estimate of the amount of probable credit losses in existing accounts receivable. The Company determines the allowances based on historical write-off experience. The Company’s allowance for bad debt as of December 31, 2024 and 2023 was $5.9 million and $7.5 million, respectively.

Concentration of Credit Risk

Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and trade receivables. The Company from time to time may have bank deposits in excess of insurance limits of the Federal Deposit Insurance Corporation. The Company also has bank deposits in international accounts. The Company has not historically sustained any credit losses in such accounts and believes it is not exposed to any significant credit risk related to its cash. The Company routinely reviews the financial strength of its customers before extending credit and believes that its trade receivables credit risk exposure is limited. Generally, the Company does not require collateral from its customers. The Company provides extended payment terms to certain customers.

During the years ended December 31, 2024, 2023 and 2022, one customer represented approximately 21.0%, 20.3% and 20.3% of the Company’s net sales, respectively. As of December 31, 2024 and 2023, outstanding trade receivables related to this customer were $4.6 million and $2.6 million, respectively.

Fair Value Measurements

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs, other than quoted prices in active markets, that are observable either directly or indirectly.

Level 3 — Unobservable inputs that reflect the Company’s own assumptions incorporated into valuation techniques. These valuations require significant judgment.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. When there is more than one input at different levels within the hierarchy, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Assessment of the significance of a particular input to the fair value measurement in its entirety requires substantial judgment and consideration of factors specific to the asset or liability. Level 3 inputs are inherently difficult to estimate. Changes to these inputs can have significant impact on fair value measurements. Assets and liabilities measured at fair value using Level 3 inputs are based on one or more of the following valuation techniques: market approach, income approach, or cost approach. There were no transfers between fair value measurement levels during the years ended December 31, 2024, 2023 and 2022.

Business Combinations

In determining whether an acquisition should be accounted for as a business combination or asset acquisition, the Company first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this is the case, the single identifiable asset or the group of similar assets is not deemed to be a business, and is instead deemed to be an asset. If this is not the case, the Company then further evaluates whether the single identifiable asset or group of similar identifiable assets and activities includes, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. If so, the Company concludes that the single identifiable asset or group of similar identifiable assets and activities is a business.

The Company accounts for business combinations that are deemed to be businesses using the acquisition method of accounting. Application of this method of accounting requires that (i) identifiable assets acquired (including identifiable intangible assets) and liabilities assumed generally be measured and recognized at fair value as of the acquisition date and (ii) the excess of the purchase price over the net fair value of identifiable assets acquired and liabilities assumed be recognized as goodwill, which is not amortized for accounting purposes but is subject to testing for impairment at least annually. Any contingent assets acquired and contingent liabilities assumed are also recognized at fair value if the Company can reasonably estimate fair value during the measurement period (which cannot exceed one year from the acquisition date). The Company re-measures any contingent liabilities at fair value in each subsequent reporting period. Transaction costs related to business combinations are expensed as incurred. Determining the fair value of assets acquired and liabilities assumed in a business combination requires management to use significant judgment and estimates, especially with respect to intangible assets.

During the measurement period, which extends no later than one year from the acquisition date, the Company may record certain adjustments to the carrying value of the assets acquired and liabilities assumed with the corresponding offset to goodwill. After the measurement period, all adjustments are recorded in the consolidated statements of operations as operating expenses or income. Refer to Note 3 for additional detail.

Equity Method Investments

Investments and ownership interests in common stock or in-substance common stock are accounted for under the equity method accounting if the Company has the ability to exercise significant influence over the entity, but does

not have a controlling financial interest. The Company also uses the equity method of accounting for investments in a partnership or limited liability company with specific ownership accounts, if the Company has an ownership interest of 5% or more. Under the equity method, investments are initially recognized at cost and adjusted to reflect the Company’s interest in net earnings, dividends received and other-than-temporary impairments. The Company records its interest in the net earnings of its equity method investee, along with adjustments for amortization of basis differences, investee capital transactions and other comprehensive income (loss), within earnings (losses) from equity method investment in the consolidated statements of operations. Basis differences represent differences between the cost of the investment and the underlying equity in net assets of the investment and are generally amortized over the lives of the related assets that gave rise to the underlying basis differences. Profits or losses related to intra-entity sales with its equity method investee are eliminated until realized by the investor or investee.

The Company records its proportionate share of earnings or losses of Premier Holdco, LLC (“Premier Pools & Spas”) within earnings from equity method investment in the consolidated statements of operations on a three-month lag. For presentation in the consolidated statements of cash flows, the Company utilizes the cumulative earnings approach for purposes of determining whether distributions should be classified as either a return on investment, which are included in operating activities, or a return of investment, which would be included in investing activities. Under the cumulative earnings approach, the Company compares the distributions received to its cumulative equity-method earnings since inception. Any distributions received up to the amount of cumulative equity earnings are be considered a return on investment and classified in operating activities. Any excess distributions would be considered a return of investment and classified in investing activities.

Equity method goodwill is not amortized or tested for impairment; instead the Company evaluates equity method investments for impairment when events or changes in circumstances indicate that the decline in value below the carrying amount of its equity method investment is determined to be other than temporary. In such a case, the decline in value below the carrying amount of its equity method investment is recognized in the consolidated statements of operations in the period the impairment occurs.

Inventories, Net

Inventories, primarily raw materials and finished goods, are stated at the lower of cost or net realizable value. Cost is determined under the first-in, first-out method. Inventory costs include all costs directly attributable to the products, including all manufacturing overhead, and excludes costs to distribute. The Company periodically reviews its inventory for slow moving or obsolete items and writes down the related products to estimated net realizable value. As of December 31, 2024 and 2023, the Company’s reserve for estimated slow moving products or obsolescence was $8.3 million and $9.1 million, respectively.

Property and Equipment, Net

Property and equipment are recorded at cost and presented net of accumulated depreciation. Property and equipment acquired through business combinations are recorded at fair value at the acquisition date. Expenditures for betterments and major improvements that substantially enhance the value and increase the estimated useful life of the assets are capitalized and depreciated over the new estimated useful life. Normal repairs and maintenance costs are expensed as incurred. Depreciation and amortization expense are recognized using the straight-line method over the estimated useful lives of each respective asset category as follows:


		Estimated
		Useful Life
Building and improvements		25 years
Molds and dyes		5 – 10 years
Machinery and equipment (including computer equipment and software)		3 – 10 years
Furniture and fixtures		5 – 7 years
Vehicles		5 years

Leasehold improvements are amortized over the shorter of the term of the related lease or the estimated useful lives of the improvements. When property and equipment is sold or retired, the asset cost and accumulated depreciation and amortization are removed from the respective accounts and a gain or loss is recognized, if any, on the consolidated statements of operations.

The Company capitalizes external costs and directly attributable internal costs to acquire or create internal-use software that are incurred subsequent to the completion of the preliminary project state. These costs relate to activities such as software design, configuration, coding, testing, and installation, and they exclude training and maintenance. Once the software is substantially complete and ready for its intended use, capitalized development costs are amortized straight-line over the estimated useful life of the software, generally not to exceed five years.

Long-Lived Assets

Long-lived assets include property and equipment and definite-lived intangible assets. The Company evaluates the carrying value of its long-lived assets for impairment whenever events or circumstances indicate that the carrying value of the assets may not be recoverable. Conditions that may indicate impairment include, but are not limited to, a significant decrease in the market price of an asset, a significant adverse change in the extent or manner in which an asset is being used or a significant decrease in its physical condition, and operating or cash flow performance that demonstrates continuing losses associated with an asset or asset group. The Company also considers non-financial data such as changes in the operating environment, competitive information, market trends, and business relationships.

A potential impairment has occurred if the projected future undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group are less than the carrying value of the asset or asset group. The estimate of cash flows includes management’s assumptions of cash inflows and outflows directly resulting from the use of the asset in operation. If the carrying value exceeds the sum of the undiscounted cash flows, an impairment charge is recorded equal to the excess of the asset or asset group’s carrying value over its fair value. Fair value is measured using appropriate valuation methodologies that would typically include a projected discounted cash flow model using a discount rate the Company believes is commensurate with the risk inherent in its business. The Company did not recognize any impairment losses on long-lived assets during the years ended December 31, 2024 and 2023.

The Company amortizes its definite-lived intangible assets using the straight-line method. The weighted-average estimated useful lives (in years) of the Company’s definite-lived intangible assets are as follows:


		Estimated
Asset		Useful Life
Trade names and trademarks		9 – 25 years
Technology		15 years
Pool designs		14 – 15 years
Dealer relationships		5 – 13 years
Patented technology		5 – 10 years
Non-competition agreements		5 years
Franchise relationships		4 years
Order backlog		10 – 12 months

Goodwill

The Company accounts for goodwill as the excess of the purchase price over the net amount of identifiable assets acquired and liabilities assumed in a business combination measured at fair value. Goodwill is not subject to amortization; rather, the Company tests goodwill for impairment annually on the first day of the Company’s fourth quarter and whenever events occur or changes in circumstances indicate that impairment may have occurred. The Company has one reporting unit for goodwill impairment testing purposes.

Impairment testing is performed for the Company’s reporting unit by first assessing qualitative factors to see if further testing of goodwill is required. If the Company concludes that it is more likely than not that its reporting unit’s

fair value is less than its carrying amount based on the qualitative assessment, then a quantitative test is required. The Company may also choose to bypass the qualitative assessment and perform the quantitative test.

If the estimated fair value of the reporting unit exceeds the carrying amount, the Company considers that goodwill is not impaired. If the carrying value exceeds estimated fair value, there is an impairment of goodwill and an impairment loss is recorded. The Company calculates the impairment loss by comparing the fair value of its reporting unit less the carrying amount, including goodwill. Goodwill impairment would be limited to the carrying value of the goodwill.

Debt Issuance Costs

The Company defers costs incurred in conjunction with acquiring third-party financing. The Company amortizes debt issuance costs over the term of the related long-term debt instruments using the effective interest method. Debt issuance costs related to long-term debt are recorded as a direct reduction to the carrying amount of long-term debt on the consolidated balance sheets.

Segment Reporting

The Company identifies operating segments based on how the chief operating decision maker manages the business, allocates resources, makes operating decisions, and evaluates operating performance.

The Company conducts its business as one operating and reportable segment that designs, manufactures, and markets in-ground swimming pools, pool covers, and pool liners. The Company’s Chief Executive Officer, who is the chief operating decision maker, reviews financial information presented on a consolidated basis for purposes of assessing financial performance and allocating resources.

Income Taxes

The Company accounts for income taxes using the asset and liability method. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities, using enacted tax rates expected to be applicable in the years in which the temporary differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company evaluates the realizability of its deferred tax assets and establishes a valuation allowance when it is more likely than not that all or a portion of the deferred tax assets will not be realized. Potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected, scheduling of anticipated reversals of taxable temporary differences, and considering prudent and feasible tax planning strategies. If in future periods the Company were to determine that it would be able to realize its deferred tax assets in excess of the net recorded amount, an adjustment to the deferred tax assets, particularly a release of the valuation allowance, would increase income in the period such determination was made.

The Company records liabilities for uncertain income tax positions based on a two-step process. The first step is recognition, where an individual tax position is evaluated as to whether it has a likelihood of greater than 50% of being sustained upon examination based on the technical merits of the position, including resolution of any related appeals or litigation processes. For tax positions that are currently estimated to have less than a 50% likelihood of being sustained, no tax benefit is recorded. For tax positions that have met the recognition threshold in the first step, the Company performs the second step of measuring the benefit to be recorded. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized on ultimate settlement. The actual benefits ultimately realized may differ from the estimates. In future periods, changes in facts, circumstances, and new information may require the Company to change the recognition and measurement estimates with regard to individual tax positions. Changes in recognition and measurement estimates are recorded in income tax expense (benefit) and liability in the period in which such changes occur.

The Company’s policy is to classify interest and penalties related to unrecognized tax benefits as a component of income tax expense (benefit) within the consolidated statements of operations. The Company had $0.0 million of

accrued interest and no accrued penalties as of December 31, 2024 and December 31, 2023. The Company reinvests earnings of foreign operations indefinitely and, accordingly, does not provide for income taxes that could result from the remittance of such earnings.

The Company has evaluated the impact of Pillar Two (as defined below) in the jurisdictions in which the Company operates and has determined no additional top up tax is required.

Stock-Based Compensation

Stock-based compensation is measured and recognized based on the grant date fair value of the awards. The fair value of the Company’s common stock is determined based on the quoted market price of the Company’s common stock for purposes of computing stock-based compensation expense. For stock options, the Company uses a Black-Scholes model for estimating the grant date fair value. The Black-Scholes pricing model requires critical assumptions including risk-free rate, volatility, expected term and expected dividend yield. The expected term is computed using the simplified method. The Company uses the simplified method to calculate expected term of the stock options as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the stock-based award. The Company considers the historical volatility of the Company’s stock price, as well as its implied volatility. The Company utilized a dividend yield of zero, since it has no history or plan of declaring dividends on its common stock. The assumptions underlying these valuations represented the Company’s best estimate, which involved inherent uncertainties and the application of judgment. As a result, if the Company had used significantly different assumptions or estimates, the fair value of the Company’s stock-based compensation expense could have been materially different.

For stock options, restricted stock awards, restricted stock units and stock appreciation rights, stock-based compensation is recognized using a graded vesting method over the requisite service period in which employees earn the awards. The Company accounts for forfeitures of stock-based awards as they occur rather than applying an estimated forfeiture rate to stock-based compensation expense.

Employee Benefit Plans

The Company has various retirement savings plans covering substantially all employees of the Company. These plans allow eligible employees to make discretionary contributions. The Company makes discretionary matching and other contributions depending on the plan and recognized expense of $1.5 million, $1.4 million, and $1.7 million related to such plans during the years ended December 31, 2024, 2023 and 2022, respectively.

Foreign Currency Translation and Foreign Currency Transactions

The financial statements of the Company’s foreign operations are denominated in local currency and are then translated to U.S. dollars. Assets and liabilities are translated using the current rate of exchange at the balance sheet dates or historical rates of exchange, as applicable. Revenue and expenses are translated using the average monthly exchange rates prevailing throughout the reporting period. The related foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Transaction gains and losses associated with the Company’s international subsidiaries, which are denominated in currencies other than the Company’s foreign entities’ functional currencies, are recognized as a component of other expense (income), net within the consolidated statements of operations.

Advertising Costs

Advertising costs, consisting of costs related to dealer conferences and commercials, are expensed as incurred and are included in selling, general, and administrative expense on the consolidated statements of operations. Total advertising costs were $8.5 million, $9.2 million, and $9.8 million during the years ended December 31, 2024, 2023 and 2022, respectively.

Comprehensive Income (Loss)

Comprehensive income (loss) is a measure of net income (loss) and all other changes in equity that result from transactions other than with equity holders and would normally be recorded in the consolidated statements of stockholders’ equity and the consolidated statements of comprehensive income. Other comprehensive income (loss) consists of foreign currency translation adjustments.

Income tax expense (benefit) on the components of other comprehensive income (loss) was not significant for the years ended December 31, 2024, 2023 and 2022.

Earnings Per Share

Basic net income (loss) per share is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income (loss) per share is calculated by dividing net income (loss) available to common stockholders by the diluted weighted-average number of shares of common stock outstanding for the period. Potentially dilutive shares are included in the diluted per-share calculations when the effect of their inclusion is dilutive. In periods where the Company reports a net loss, the effect of anti-dilutive stock options, restricted stock awards, restricted stock units and stock appreciation rights are excluded and diluted loss per share is equal to basic loss per share.

Treasury Stock

The Company accounts for treasury stock acquisitions using the cost method. The Company accounts for the retirement of treasury stock by deducting its par value from common stock and reflecting any excess of cost over par value as a deduction from additional paid-in capital on the consolidated balance sheets.

Recently Issued Accounting Pronouncements

The Company qualifies as “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected to “opt in” to the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for private companies.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), in an effort to enhance the transparency and decision usefulness of income tax disclosures. For all entities, ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. The amendments should be applied prospectively with retrospective application permitted. Early adoption is also permitted. The Company is currently evaluating ASU 2023-09 and its potential impact on the notes to the consolidated financial statements.

In March 2024, the FASB issued ASU 2024-01, Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards (“ASU 2024-01”), which improves financial reporting by providing clarity on when an entity should apply the scope guidance in paragraph 718-10-15-3. ASU 2024-01 is effective for public business entities for fiscal years beginning after December 15, 2024. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2025. The amendments should be applied retrospectively to all prior periods presented in the financial statements, with early adoption permitted. The Company is currently evaluating ASU 2024-01 and its potential impact on the condensed consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40 (“ASU 2024-03”)), which improves disclosures to provide more detailed information about a business entity’s expenses. ASU 2024-03 is effective for public business entities for fiscal

years beginning after December 15, 2026. The amendments should be applied retrospectively to all prior periods presented in the financial statements, with early adoption permitted. The Company is currently evaluating ASU 2024-03 and its potential impact on the consolidated financial statements.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 during the year ended December 31, 2024. See Note 20 for further detail.

Segment Reporting (Details) $ in Thousands	12 Months Ended
Segment Reporting (Details) $ in Thousands	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments \| segment	1
Number of Reportable Segments \| segment	1
Net sales	$ 508,520	$ 566,492	$ 695,736
Stock-based compensation expense	7,392	18,804	50,634
Interest expense, net	24,840	30,916	15,753
Other expense (income), net	6,237	(1,004)	1,301
Earnings from equity method investment	4,060	3,723	4,230
Income Tax Expense (Benefit)	9,120	(7,672)	19,415
Loss on extinguishment of debt	0	0	3,465
Underwriting fees related to offering of common stock	0	0	11,437
Net loss	(17,860)	(2,388)	(5,694)
Single Reportable Segment [Member]
Segment Reporting Information [Line Items]
Net sales	508,520	566,492	695,736
Other Cost Of Revenue	339,078	398,293	465,230
Other Selling, General, And Administrative Expenses	93,138	86,385	93,500
Depreciation	16,494	13,817	9,995
Amortization	27,952	26,934	28,180
Stock-based compensation expense	7,392	18,804	50,634
Strategic initiative costs	3,329	4,092	3,948
Acquisition and integration related costs	2,348	911	326
Restructuring charges	512	3,727	1,607
Interest expense, net	24,840	30,916	15,753
Odessa fire	0	(2,600)	869
Other expense (income), net	6,237	(1,004)	1,301
Earnings from equity method investment	(4,060)	(3,723)	(4,230)
Income Tax Expense (Benefit)	9,120	(7,672)	19,415
Loss on extinguishment of debt	0	0	3,465
Underwriting fees related to offering of common stock	0	0	11,437
Net loss	$ (17,860)	$ (2,388)	$ (5,694)

Acquisitions (Details) - USD ($) $ in Thousands		12 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	Aug. 02, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Total purchase price, net of cash acquired		$ 64,527	$ 0	$ 5,358
Proceeds from long term debt used to pay Acquisition consideration		0	0	320,125
Goodwill		152,625	131,363	131,383
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill		$ 152,625	$ 131,363	$ 131,383
Coverstar Central, LLC
Business Acquisition [Line Items]
Total purchase price	$ 71,500
Business acquisition, cash consideration	66,500
Net working capital adjustment receivable	1,200
Business Acquisition, Transaction Costs	900
Business acquisition, contingent consideration	4,900
Goodwill	22,047
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Total consideration	71,516
Cash	2,084
Trade receivables	7,020
Inventories	4,293
Prepaid expenses and other current assets	53
Property and equipment	344
Intangible assets	38,220
Deferred tax assets	43
Total assets acquired, excluding goodwill	52,057
Accounts payable	131
Accrued expenses and other current liabilities	2,457
Total liabilities assumed	2,588
Total fair value of net assets acquired, excluding goodwill:	49,469
Goodwill	$ 22,047

10-K - Condensed Financial Information of Registrant (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule of condensed balance sheets

Latham Group, Inc.

(Parent Company Only)

Condensed Balance Sheets

(in thousands, except share and per share data)


	December 31,
	2024		2023
Assets
Investment in subsidiary	$	387,222	$	399,200
Total assets	$	387,222	$	399,200
Liabilities and Stockholders’ Equity
Total liabilities	$	—	$	—
Stockholders’ Equity
Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of both December 31, 2024 and December 31, 2023; no shares issued and outstanding as of both December 31, 2024 and December 31, 2023		—		—
Common stock, $0.0001 par value; 900,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 115,764,839 and 114,871,782 shares issued and outstanding, as of December 31, 2024 and December 31, 2023, respectively		12		11
Additional paid-in capital		467,076		459,684
Accumulated deficit		(74,816)		(56,956)
Accumulated other comprehensive loss		(5,050)		(3,539)
Total stockholders’ equity		387,222		399,200
Total liabilities and stockholders’ equity	$	387,222	$	399,200

Schedule of condensed statements of operations

Latham Group, Inc.

(Parent Company Only)

Condensed Statements of Operations

(in thousands, except share and per share data)


	Year Ended
	December 31,
	2024		2023		2022
Equity in net loss of subsidiary	$	(17,860)	$	(2,388)	$	(5,694)
Net loss attributable to common stockholders	$	(17,860)	$	(2,388)	$	(5,694)
Net loss per share
Net loss per share attributable to common stockholders – basic and diluted
Basic	$	(0.15)	$	(0.02)	$	(0.05)
Diluted	$	(0.15)	$	(0.02)	$	(0.05)
Weighted-average common shares outstanding – basic and diluted
Basic		115,434,828		112,899,586		113,245,421
Diluted		115,434,828		112,899,586		113,245,421

Schedule of condensed statements of comprehensive income

Latham Group, Inc.

(Parent Company Only)

Condensed Statements of Comprehensive Loss

(in thousands)


	Year Ended
	December 31,
	2024		2023		2022
Net loss	$	(17,860)	$	(2,388)	$	(5,694)
Equity in other comprehensive loss of subsidiary		(1,511)		(6)		(3,903)
Comprehensive loss	$	(19,371)	$	(2,394)	$	(9,597)

Schedule of condensed statements of cash flows

Latham Group, Inc.

(Parent Company Only)

Condensed Statement of Cash Flows

(in thousands)


	Year Ended
	December 31,
	2024		2023		2022
Cash flows from operating activities:
Net loss	$	(17,860)	$	(2,388)	$	(5,694)
Adjustments to reconcile net loss to net cash provided by operating activities:
Equity in net loss of subsidiary		17,860		2,388		5,694
Net cash provided by operating activities		—		—		—
Cash flows from investing activities:
Distribution from subsidiary		—		—		23,038
Net cash provided by investing activities		—		—		23,038
Cash flows from financing activities:
Proceeds from issuance of common stock		—		—		257,663
Repurchase and retirement of common stock		—		—		(280,701)
Net cash used in financing activities		—		—		(23,038)
Net increase in cash		—		—		—
Cash at beginning of period		—		—		—
Cash at end of period	$	—	$	—	$	—

Condensed Financial Information of Registrant (Parent Company Only) - Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 11, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income (loss)		$ (17,860)	$ (2,388)	$ (5,694)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net cash used in operating activities		61,307	116,369	32,309
Cash flows from investing activities:
Net cash used in investing activities		(84,643)	(31,726)	(45,018)
Cash flows from financing activities:
Proceeds from the issuance of common stock		0	0	257,663
Repurchase and retirement of common stock		0	0	(280,701)
Net cash used in financing activities		(22,021)	(13,875)	3,775
Net increase in cash		(46,365)	70,137	(11,326)
Cash at beginning of period		102,763	32,626	43,952
Cash at end of period		56,398	102,763	32,626
Supplemental cash flow information:
Cash paid for interest		24,894	25,747	12,621
Latham Investment Holdings, LP
Cash flows from operating activities:
Net income (loss)		(17,860)	(2,388)	(5,694)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in net loss (income) of subsidiary		17,860	2,388	5,694
Net cash used in operating activities		0	0	0
Cash flows from investing activities:
Distribution from subsidiary		0	0	23,038
Net cash used in investing activities		0	0	23,038
Cash flows from financing activities:
Proceeds from the issuance of common stock	$ 257,700	0	0	257,663
Repurchase and retirement of common stock		0	0	(280,701)
Net cash used in financing activities		0	0	(23,038)
Net increase in cash		0	0	0
Cash at beginning of period		0	0
Cash at end of period		$ 0	$ 0	$ 0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Product Warranties (Details) - USD ($) $ in Thousands	12 Months Ended
Product Warranties (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at the beginning of the fiscal year	$ 3,161	$ 3,990	$ 4,909
Adjustments to reserve	2,615	5,319	4,567
Less: Settlements made (in cash or in kind)	(3,129)	(6,148)	(5,486)
Balance at the end of the fiscal quarter	$ 2,647	$ 3,161	$ 3,990

Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net loss	$ (17,860)	$ (2,388)	$ (5,694)
Weighted-average common shares outstanding
Basic	115,434,828	112,899,586	113,245,421
Diluted	115,434,828	112,899,586	113,245,421
Net loss per share attributable to common stockholders:
Basic	$ (0.15)	$ (0.02)	$ (0.05)
Diluted	$ (0.15)	$ (0.02)	$ (0.05)
Restricted Stock Awards
Net loss per share attributable to common stockholders:
Potentially dilutive securities outstanding	10,722	697,822	1,904,037
Restricted Stock Units
Net loss per share attributable to common stockholders:
Potentially dilutive securities outstanding	22,275	188,548	202,622
Employee Stock Option
Net loss per share attributable to common stockholders:
Potentially dilutive securities outstanding	1,410,382	1,702,316	1,757,336
Stock appreciation rights
Net loss per share attributable to common stockholders:
Potentially dilutive securities outstanding	326,395	491,386	0
Performance Stock Units
Net loss per share attributable to common stockholders:
Potentially dilutive securities outstanding	20,781	0	0

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Use of Estimates

Seasonality

Leases

Revenue Recognition

The Company does not engage in contracts greater than one year, and therefore does not have any contract costs capitalized as of December 31, 2024, and 2023.

Warranties

Cost of Sales

Trade Receivables, Net

Concentration of Credit Risk

Fair Value Measurements

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs, other than quoted prices in active markets, that are observable either directly or indirectly.

Level 3 — Unobservable inputs that reflect the Company’s own assumptions incorporated into valuation techniques. These valuations require significant judgment.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. When there is more than one input at different levels within the hierarchy, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Assessment of the significance of a particular input to the fair value measurement in its entirety requires substantial judgment and consideration of factors specific to the asset or liability. Level 3 inputs are inherently difficult to estimate. Changes to these inputs can have significant impact on fair value measurements. Assets and liabilities measured at fair value using Level 3 inputs are based on one or more of the following valuation techniques: market approach, income approach, or cost approach. There were no transfers between fair value measurement levels during the years ended December 31, 2024, 2023 and 2022.

Business Combinations

Equity Method Investments

Inventories, Net

Property and Equipment, Net


		Estimated
		Useful Life
Building and improvements		25 years
Molds and dyes		5 – 10 years
Machinery and equipment (including computer equipment and software)		3 – 10 years
Furniture and fixtures		5 – 7 years
Vehicles		5 years

Long-Lived Assets


		Estimated
Asset		Useful Life
Trade names and trademarks		9 – 25 years
Technology		15 years
Pool designs		14 – 15 years
Dealer relationships		5 – 13 years
Patented technology		5 – 10 years
Non-competition agreements		5 years
Franchise relationships		4 years
Order backlog		10 – 12 months

Goodwill

Debt Issuance Costs

Segment Reporting

The Company identifies operating segments based on how the chief operating decision maker manages the business, allocates resources, makes operating decisions, and evaluates operating performance.

Income Taxes

The Company has evaluated the impact of Pillar Two (as defined below) in the jurisdictions in which the Company operates and has determined no additional top up tax is required.

Stock-Based Compensation

Employee Benefit Plans

Foreign Currency Translation and Foreign Currency Transactions

Advertising Costs

Comprehensive Income (Loss)

Income tax expense (benefit) on the components of other comprehensive income (loss) was not significant for the years ended December 31, 2024, 2023 and 2022.

Earnings Per Share

Treasury Stock

Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 10,001	$ 6,715
Capital loss carryforwards	0	3,114
Inventories, net	3,082	3,234
Warranty reserve	469	595
Trade receivables	1,375	1,737
Profits interest units	3,437	2,581
Section 163(j)	4,902	2,345
Accrued expenses	350	509
Transaction costs	1,180	1,052
Future branch taxes	0	(1,691)
Operating lease liabilities	6,968	0
Other	2,276	2,082
Gross deferred tax assets	34,040	22,273
Valuation allowance	(8,700)	(3,114)	$ 0	$ 0
Total deferred tax asset	25,340	19,159
Less: Foreign deferred tax benefit	(729)	(7,485)
Total domestic deferred tax asset	24,611	11,674
Deferred tax liabilities:
Intangible assets	(42,702)	(45,150)
Property and equipment, net	(6,056)	(5,656)
Prepaid expenses and other	(1,165)	(644)
Investments in partnerships	(318)	(312)
Operating lease right-of-use assets	(6,717)	0
Total deferred tax liabilities	(56,958)	(51,762)
Net deferred tax liabilities	$ (32,347)	$ (40,088)

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 508,520	$ 566,492	$ 695,736
Cost of sales	354,776	413,548	479,267
Gross profit	153,744	152,944	216,469
Selling, general, and administrative expense	108,364	110,296	146,842
Underwriting fees related to offering of common stock	0	0	11,437
Amortization	27,103	26,519	28,180
Income from operations	18,277	16,129	30,010
Other expense:
Interest expense, net	24,840	30,916	15,753
Loss on extinguishment of debt	0	0	3,465
Other expense (income), net	6,237	(1,004)	1,301
Total other expense, net	31,077	29,912	20,519
Earnings from equity method investment	4,060	3,723	4,230
(Loss) income before income taxes	(8,740)	(10,060)	13,721
Income tax expense (benefit)	9,120	(7,672)	19,415
Net loss	$ (17,860)	$ (2,388)	$ (5,694)
Net loss per share attributable to common stockholders:
Basic	$ (0.15)	$ (0.02)	$ (0.05)
Diluted	$ (0.15)	$ (0.02)	$ (0.05)
Weighted-average common shares outstanding - basic and diluted
Basic	115,434,828	112,899,586	113,245,421
Diluted	115,434,828	112,899,586	113,245,421

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, net

Property and equipment, net consisted of the following (in thousands):


	December 31,
	2024		2023
Land	$	2,684	$	2,758
Building and improvements		38,567		38,994
Machinery and equipment		52,715		49,257
Furniture and fixtures		2,059		2,061
Computer equipment and software		19,332		10,389
Molds and dyes		23,006		21,838
Leasehold improvements		13,744		12,358
Vehicles		5,134		4,923
Construction in progress		17,497		17,599
		174,738		160,177
Less: Accumulated depreciation		(61,890)		(47,163)
	$	112,848	$	113,014

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in the carrying value of goodwill

The following table presents the changes in the carrying value of goodwill during the years ended December 31, 2024 and 2023 (in thousands):


	Amount
Balance as of December 31, 2022	$	131,383
Foreign currency translation adjustment		(20)
Balance as of December 31, 2023		131,363
Acquisition		22,047
Foreign currency translation adjustment		(785)
Balance as of December 31, 2024	$	152,625

Schedule of Intangible assets

Intangible assets, net as of December 31, 2024 consisted of the following (in thousands):


	December 31, 2024
	Gross		Foreign
	Carrying		Currency		Accumulated		Net
	Amount		Translation		Amortization		Amount
Trade names and trademarks	$	148,100	$	(592)	$	36,183	$	111,325
Patented technology		16,126		(9)		10,303		5,814
Technology		13,000		—		2,673		10,327
Pool designs		13,628		(293)		3,909		9,426
Franchise relationships		1,187		—		1,187		—
Dealer relationships		235,176		(3)		79,397		155,776
Order backlog		2,020		—		1,775		245
Non-competition agreements		2,476		—		2,476		—
	$	431,713	$	(897)	$	137,903	$	292,913

Intangible assets, net as of December 31, 2023 consisted of the following (in thousands):


	December 31, 2023
	Gross		Foreign
	Carrying		Currency		Accumulated		Net
	Amount		Translation		Amortization		Amount
Trade names and trademarks	$	148,100	$	72	$	29,583	$	118,589
Patented technology		16,126		1		8,713		7,414
Technology		13,000		—		1,806		11,194
Pool designs		13,628		35		2,973		10,690
Franchise relationships		1,187		—		1,187		—
Dealer relationships		197,376		—		62,470		134,906
Order backlog		1,600		—		1,600		—
Non-competition agreements		2,476		—		2,476		—
	$	393,493	$	108	$	110,808	$	282,793

Schedule of estimated amortization expense related to definite-lived intangible assets

The Company estimates that amortization expense related to definite-lived intangible assets will be as follows in each of the next five fiscal years and thereafter (in thousands):


	Estimated Future
	Amortization
Fiscal Year Ending	Expense
2025	$	28,704
2026		28,459
2027		28,459
2028		27,501
2029		22,131
Thereafter		157,659
	$	292,913

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Condensed Financial Information of Registrant (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Total assets	$ 794,207	$ 835,003
Liabilities and Stockholders' Equity
Total liabilities	406,985	435,803
Stockholders' equity:
Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of both December 31, 2024 and December 31, 2023; no shares issued and outstanding as of both December 31, 2024 and December 31, 2023	0	0
Common stock, $0.0001 par value; 900,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 115,764,839 and 114,871,782 shares issued and outstanding, as of December 31, 2024 and December 31, 2023, respectively	12	11
Additional paid-in capital	467,076	459,684
Accumulated deficit	(74,816)	(56,956)
Accumulated other comprehensive loss	(5,050)	(3,539)
Total stockholders' equity	387,222	399,200	$ 382,790	$ 353,645
Total liabilities and stockholders' equity	794,207	835,003
Latham Investment Holdings, LP
Assets
Investment in subsidiary	387,222	399,200
Total assets	387,222	399,200
Liabilities and Stockholders' Equity
Total liabilities	0	0
Stockholders' equity:
Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of both December 31, 2024 and December 31, 2023; no shares issued and outstanding as of both December 31, 2024 and December 31, 2023	0	0
Common stock, $0.0001 par value; 900,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 115,764,839 and 114,871,782 shares issued and outstanding, as of December 31, 2024 and December 31, 2023, respectively	12	11
Additional paid-in capital	467,076	459,684
Accumulated deficit	(74,816)	(56,956)
Accumulated other comprehensive loss	(5,050)	(3,539)
Total stockholders' equity	387,222	399,200
Total liabilities and stockholders' equity	$ 387,222	$ 399,200

Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of basic and diluted net loss per share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share data):


	Year Ended December 31,
	2024		2023		2022
Numerator:
Net loss attributable to common stockholders	$	(17,860)	$	(2,388)	$	(5,694)
Denominator:
Weighted-average common shares outstanding
Basic		115,434,828		112,899,586		113,245,421
Diluted		115,434,828		112,899,586		113,245,421
Net loss per share attributable to common stockholders:
Basic	$	(0.15)	$	(0.02)	$	(0.05)
Diluted	$	(0.15)	$	(0.02)	$	(0.05)

Schedule of antidilutive securities excluded from computation of diluted net loss per share


	Year Ended December 31,
	2024	2023	2022
Restricted stock awards	10,722	697,822	1,904,037
Restricted stock units	22,275	188,548	202,622
Stock options	1,410,382	1,702,316	1,757,336
Stock appreciation rights	326,395	491,386	—
Performance stock units	20,781	—	—

Stock-Based Compensation - Narrative (Details) - USD ($)			3 Months Ended	12 Months Ended
	May 02, 2023	Apr. 12, 2021	Apr. 01, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum grant date fair value of cash and equity awards that may be awarded to a non-employee director		$ 750,000
Additional shares authorized	8,000,000
Vesting period	1 year			1 year
The shares excepted from the minimum vesting period as a percent of the share pool	5.00%
Shares reserved for issuance				21,170,212
Share based compensation expense				$ 7,392,000	$ 18,804,000	$ 50,634,000
Total unrecognized stock-based compensation expense				$ 9,700,000
Total unrecognized stock-based compensation expense expected to be recognized over a weighted-average period				1 year 10 months 28 days
Recognized income tax benefit related to stock-based compensation				$ 600,000	500,000	800,000
Number of options granted				0
Cost of Sales
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense				$ 0	81,000	3,762,000
Selling, General and Administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense				$ 7,392,000	$ 18,723,000	$ 46,872,000
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options granted				0
Stock appreciation rights
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant-date fair value				$ 1.08
Number of options granted			790,181	0

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

Summary of purchase price allocation

The following summarizes the allocation for the Company’s acquisition of Coverstar Central as of December 31, 2024:


(in thousands)	August 2, 2024
Total consideration	$	71,516
Allocation:
Cash		2,084
Trade receivables		7,020
Inventories		4,293
Prepaid expenses and other current assets		53
Property and equipment		344
Intangible assets		38,220
Deferred tax assets		43
Total assets acquired, excluding goodwill		52,057
Accounts payable		131
Accrued expenses and other current liabilities		2,457
Total liabilities assumed		2,588
Total fair value of net assets acquired, excluding goodwill		49,469
Goodwill	$	22,047

Schedule of purchase price to specific intangible asset categories


	Fair Value		Amortization
Definite-lived intangible assets:	(in thousands)		Period (in years)
Dealer relationships	$	37,800	13
Order backlog		420	1

Schedule of net sales and net loss from acquiree included in the Company's results from the Acquisition Date


(in thousands)	Amount
Net sales	$	8,236
Net loss	$	(1,332)

Schedule of pro forma financial information



	Year Ended
	December 31,
(in thousands)	2024		2023		2022
Net sales	$	520,795	$	586,717	$	715,551
Net (loss) income	$	(12,634)	$	4,380	$	2,674

Composition of Certain Balance Sheet Accounts - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Disclosure Text Block Supplement [Abstract]
Accrued sales rebates	$ 13,545	$ 10,170
Accrued product warranties	2,389	2,889
Accrued incentives	8,678	1,270
Accrued vacation	2,509	2,310
Accrued payroll	4,405	4,893
Accrued interest	4,153	2,955
Income taxes payable	0	1,682
Deferred revenue	3,794	3,787
Other accrued expenses	7,937	10,735
Total accrued expenses and other current liabilities	$ 47,410	$ 40,691

Stock-Based Compensation - Restricted Stock Awards (Details) - Restricted Stock Awards	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Shares
Balance at beginning \| shares	42,886
Granted \| shares	0
Vested \| shares	(42,886)
Forfeited \| shares	0
Balance at ending \| shares	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Balance at beginning \| $ / shares	$ 19
Granted \| $ / shares	0
Vested \| $ / shares	19
Forfeited \| $ / shares	0
Balance at ending \| $ / shares	$ 0

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of financial liabilities at fair value on a recurring basis


	December 31,
	2024				2023
	Carrying		Estimated		Carrying		Estimated
	Value		Fair Value		Value		Fair Value
Term Loan	$	281,521	$	276,946	$	301,201	$	289,153

Summary of Significant Accounting Policies - Leases and Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jan. 01, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 28,259	$ 30,788
Revenue, Practical Expedient, Financing Component [true false]	true
Product warranty term	5 years
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets			$ 300

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476173/280-10-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476173/280-10-65-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-1

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477123/405-50-65-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482477/820-10-65-13

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482477/820-10-65-13

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-5

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 66: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 67: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 68: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 69: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480530/250-10-S99-5

Reference 70: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 72: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 73: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 74: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 75: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 76: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 81: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 83: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 85: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-6

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 88: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 91: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 93: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 94: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 95: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 96: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 97: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 98: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480424/946-10-50-3

Reference 99: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Reference 100: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

+ Details