Holley Performance Brands reported fourth-quarter 2024 net sales of $140.1 million, a 10.1% decrease year-over-year, and a net loss of $37.782 million. For the full year 2024, net sales were $602.2 million, down 8.7% from 2023, with Adjusted EBITDA reaching $110.5 million, within the adjusted guidance range.
Despite the overall sales decline, the company achieved significant operational improvements, with Q4 2024 gross margin expanding by 690 basis points year-over-year to 45.6%. Direct-to-consumer sales grew 8% year-over-year, and national retailer growth was 12%, driven by strategic partnerships and SKU expansion.
Holley's eCommerce sales surpassed $100 million in 2024, and revenue per SKU for new product launches increased by 75%. The company's Bank-Adjusted EBITDA Leverage Ratio improved to 4.17x from 4.21x, reflecting progress in strengthening the balance sheet.
For the full year 2025, Holley provided guidance projecting revenue between $580 million and $600 million, representing 0.8% to 4.3% growth compared to the core business, excluding divested businesses and clearance sales. Adjusted EBITDA is expected to be between $113 million and $130 million, with this guidance not including any potential incremental impact related to tariffs.
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