CORPORATE FINANCIAL REPORTS 9-20-21

The following are recent financial reports as posted by selected Utah corporations: 

Traeger

Traeger Inc., based in Salt Lake City, reported a net loss of $4.9 million, or 5 cents per unit, for the second quarter ended June 30. That compares with net income of $18.9 million, or 17 cents per unit, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $213 million, up from $153.2 million in the prior-year period.

Traeger produces pellet grills. It became a public company in late July.

“We are extremely pleased and energized by the momentum in our business as we continue to disrupt the grilling industry,” Jeremy Andrus, CEO, said in announcing the results. “Our strong revenue growth as well as the ongoing expansion and engagement of our passionate and engaged Traegerhood community demonstrate the power of our brand and our business model.”

Andrus said the company saw strong performance across regions and product categories, with North America revenue increasing 36.1 percent year over year. He called growth in Canada “exceptional.” Revenues from the rest of the world grew 163 percent.

“Looking ahead, we see a significant opportunity to drive market share gains and remain committed to investing in product innovation, brand awareness, geographic expansion and infrastructure to support long-term and sustainable growth,” he said.

HealthEquity

HealthEquity Inc., based in Draper, reported a net loss of $3.8 million, or 5 cents per share, for the second quarter ended July 31. That compares with a loss of $100,000, or less than one-half of 1 cent, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $189.1 million, up from $176 million in the year-earlier quarter.

HealthEquity is the nation’s largest health savings account (HSA) non-bank custodian.

“HealthEquity is built for growth as the team showed in the second fiscal quarter, delivering a record 180,000 new HSAs and 27 percent year-over-year HSA asset growth,” Jon Kessler, president and CEO, said in announcing the results.

“With our organic momentum and the Further and Fifth-Third HSA portfolio acquisitions planned to close later this fiscal year, ‘Team Purple’ is positioned to gain market share in FY22 and exit the year with strong momentum.”