Traeger Inc. (COOK) received a compliance notice from the New York Stock Exchange on November 19, 2025, after its average closing price over a consecutive 30‑day period fell below the $1.00 minimum required for continued listing. The company confirmed the notice on November 25, 2025, and has a six‑month cure period to restore compliance.
The notice does not alter Traeger’s reporting obligations or day‑to‑day operations, but it signals a heightened risk of delisting if the share price does not recover. At the time of the notice, the stock was trading around $0.79, close to its 52‑week low of $0.75, and had declined 73.6% year‑to‑date.
Traeger’s Q3 2025 earnings, released on November 5, provide context for the price decline. Revenue rose 2.7% to $125.4 million, beating estimates by 11.4%, driven by modest growth in grill and consumable sales. However, the company posted a net loss of $89.8 million, a sharp increase from the $19.8 million loss in the prior year, largely due to a $74.7 million goodwill impairment and higher interest expense.
Gross margin contracted to 38.7% from 42.3% year‑ago, reflecting tariff‑related cost increases and pricing pressure in the grill segment. Adjusted EBITDA improved to $13.8 million, up 11.8% from $12.3 million, as cost‑control initiatives under Project Gravity began to take effect. CEO Jeremy Andrus said the company expects the project to deliver $30 million in annualized savings by the end of 2026, with $13 million realized in FY 2025.
Analysts view the NYSE notice as a warning sign of deeper financial stress. While the company’s liquidity cushion of $167 million remains solid, its debt load is roughly 2.7 times market cap, and sales weakness in key segments continues to erode profitability. The notice underscores the need for Traeger to reverse its sales trajectory and achieve sustained price recovery to avoid delisting.
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