Traeger, Inc. (COOK): Business Model Canvas

Stellen Sie sich vor, Sie verwandeln Ihren Garten in ein kulinarisches Paradies mit einer Technologie, die das Kochen im Freien revolutioniert – das ist das Versprechen von Traeger. An der Schnittstelle von Innovation und Leidenschaft hat Traeger, Inc. ein Geschäftsmodell entwickelt, das weit über das traditionelle Grillen hinausgeht und technisch versierten Lebensmittelliebhabern ein erstklassiges Holzfeuererlebnis bietet, das modernste Konnektivität nahtlos mit altehrwürdigen Kochtraditionen verbindet. Ihr einzigartiger Ansatz verwandelt gewöhnliche Mahlzeiten in außergewöhnliche kulinarische Abenteuer und macht jeden Grillmoment zu einer Gelegenheit für gastronomische Spitzenleistungen.

Traeger, Inc. (COOK) – Geschäftsmodell: Wichtige Partnerschaften

Lieferanten von Holzpellets und Grillkomponenten

Traeger bezieht Holzpellets von mehreren Lieferanten, wobei etwa 70 % der Rohstoffe von inländischen Herstellern in den USA bezogen werden. Zu den wichtigsten Lieferanten von Holzpellets gehören:

Lieferant	Jährliches Liefervolumen	Vertragsdauer
Pellets von der Pazifikküste	350.000 Tonnen	3-Jahres-Vertrag
Nordwestliche Holztechnologien	275.000 Tonnen	2-Jahres-Vertrag

Fertigungspartner in China und Vietnam

Traeger unterhält strategische Fertigungspartnerschaften mit Einrichtungen in Asien:

• Shenzhen Manufacturing Co., Ltd. (China): Produziert 60 % der Grillkomponenten
• Hanoi Industrial Partners (Vietnam): Liefert 40 % der Produktionskapazität
• Gesamte jährliche Produktionskapazität: 250.000 Grills

Einzelhandelsvertriebshändler

Traeger arbeitet mit den wichtigsten Einzelhandelskanälen zusammen:

Händler	Verkaufsvolumen (2023)	Marktdurchdringung
Heimdepot	85.000 Einheiten	35 % des Gesamtumsatzes
Lowes	62.000 Einheiten	25 % des Gesamtumsatzes
Amazon	48.000 Einheiten	19 % des Gesamtumsatzes

Digitale Marketing- und E-Commerce-Plattformen

Zu den wichtigsten Partnern für die digitale Zusammenarbeit gehören:

• Shopify: Integration der E-Commerce-Plattform
• Google Marketing Platform: Digitale Werbung
• Meta Ads Manager: Social-Media-Marketing

Influencer für Outdoor-Kochen und Lifestyle-Marken

Traeger arbeitet mit professionellen kulinarischen Influencern und Outdoor-Kochpersönlichkeiten zusammen:

Influencer-Kategorie	Anzahl der Partnerschaften	Geschätzte Reichweite
Professionelle Köche	12 Partnerschaften	2,5 Millionen Follower
Experten für Outdoor-Kochen	8 Partnerschaften	1,8 Millionen Follower

Traeger, Inc. (COOK) – Geschäftsmodell: Hauptaktivitäten

Entwicklung und Herstellung von Holzpelletgrills

Traeger produzierte im Jahr 2022 etwa 500.000 Grills mit Produktionsstätten in China und den Vereinigten Staaten.

Kennzahlen zur Grillproduktion	Daten für 2022
Insgesamt hergestellte Grills	500.000 Einheiten
Durchschnittliche Produktionskosten	350–450 $ pro Einheit
Produktionsstandorte	China und Vereinigte Staaten

Entwicklung innovativer Kochtechnologie

Traeger investierte im Jahr 2022 12,3 Millionen US-Dollar in Forschung und Entwicklung und konzentrierte sich dabei auf fortschrittliche Pelletgrilltechnologien.

• Integration der WiFIRE-Technologie
• Digitale Temperaturkontrollsysteme
• Intelligente Kochalgorithmen

Digitale Plattform- und App-Entwicklung

Die mobile Anwendung von Traeger hatte im vierten Quartal 2022 über 750.000 aktive Benutzer, mit laufenden Investitionen in die digitale Plattform.

Kennzahlen für digitale Plattformen	Statistik 2022
Aktive Benutzer der mobilen App	750,000
Investition in digitale Plattformen	3,5 Millionen Dollar

Schaffung von Marketing und Markenerlebnissen

Traeger stellte im Jahr 2022 45,2 Millionen US-Dollar für Marketingausgaben bereit, was 15,6 % des Gesamtumsatzes entspricht.

• Social-Media-Marketing
• Influencer-Partnerschaften
• Inhaltserstellung

Produktforschung und -entwicklung

Die F&E-Ausgaben für die Entwicklung neuer Produkte erreichten im Jahr 2022 12,3 Millionen US-Dollar, was 4,2 % des Gesamtumsatzes entspricht.

F&E-Schwerpunktbereiche	Investitionsdetails
Gesamtausgaben für Forschung und Entwicklung	12,3 Millionen US-Dollar
Prozentsatz des Umsatzes	4.2%
Neue Produktlinien	3 große Produkteinführungen

Traeger, Inc. (COOK) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Holzpellet-Grilltechnologie

Traeger besitzt ab 2023 29 aktive Patente im Zusammenhang mit der Holzpellet-Grilltechnologie. Das Unternehmen hat im Geschäftsjahr 2022 12,4 Millionen US-Dollar in Forschung und Entwicklung für Grillinnovationen investiert.

Patentkategorie	Anzahl der Patente
Grilldesign	14
Pellet-Zuführmechanismus	8
Temperaturkontrolle	7

Starker Markenruf im Outdoor-Kochen

Traeger hält einen 37,5 % Marktanteil bei Holzpelletgrills Stand 2022. Der Markenwert wird im Jahr 2023 auf 245 Millionen US-Dollar geschätzt.

Digitales Ökosystem und mobile Anwendung

• Digitale Plattform mit über 1,2 Millionen registrierten Nutzern
• Die mobile App wurde im Jahr 2022 750.000 Mal heruntergeladen
• Digitale Rezeptdatenbank mit über 4.500 benutzergenerierten Rezepten

Fertigungs- und Lieferketteninfrastruktur

Traeger betreibt zwei Hauptproduktionsstätten:

Standort	Jährliche Produktionskapazität
Utah, USA	180.000 Grills/Jahr
China	120.000 Grills/Jahr

Geistiges Eigentum und Designpatente

Das gesamte Portfolio an geistigem Eigentum wird im Jahr 2022 auf 38,6 Millionen US-Dollar geschätzt. Laufende Investition von 4,2 % des Jahresumsatzes in die IP-Entwicklung.

Traeger, Inc. (COOK) – Geschäftsmodell: Wertversprechen

Premium-Kocherlebnis mit Holzfeuer

Die Holzpelletgrills von Traeger erwirtschaften im Geschäftsjahr 2022 einen Nettoumsatz von 661,3 Millionen US-Dollar. Der durchschnittliche Verkaufspreis der Traeger-Grills liegt zwischen 599 und 3.499 US-Dollar.

Kategorie „Grill“.	Preisspanne	Hauptmerkmale
Tragbare Grills	$599 - $899	Leichte, mobile Kochlösungen
Pro-Serie	$1,299 - $2,199	Erweiterte Temperaturregelung
Timberline-Serie	$2,499 - $3,499	Intelligente Grilltechnologie der Spitzenklasse

Intelligente Grilltechnologie mit WiFIRE-Konnektivität

Die WiFIRE-Technologie ermöglicht die Fernüberwachung und -steuerung der Temperatur über eine mobile Anwendung.

• Über 250.000 aktive Nutzer mobiler Apps
• 95 % der WiFIRE-fähigen Grills stellen eine Verbindung zu mobilen Anwendungen her
• Funktionen zur Temperaturverfolgung und -anpassung in Echtzeit

Hochwertige, vielseitige Outdoor-Kochausrüstung

Traeger produziert mehrere Produktlinien mit unterschiedlichen Kochmöglichkeiten.

Produktkategorie	Anzahl der Modelle	Durchschnittliche Kundenbewertung
Pelletgrills	12 Modelle	4.6/5
Zubehör	Über 50 Artikel	4.4/5
Kochzubehör	25 Spezialwerkzeuge	4.5/5

Konsistente und präzise Temperaturregelung

Der digitale Regler hält die Temperatur innerhalb von ±15 Grad Fahrenheit vom Sollwert.

• Temperaturbereich: 165 °F - 500 °F
• Präzisionsheizelemente in allen Pro-Level-Modellen
• Patentierte Konvektionskochtechnologie

Einzigartige Geschmacksprofile durch Holzpellet-Kochen

Traeger produziert 8 verschiedene Holzpellet-Geschmacksrichtungen für abwechslungsreiche Kocherlebnisse.

Holzpelletgeschmack	Primär empfohlenes Protein	Verkaufspreis pro 20-Pfund-Beutel
Hickory	Rindfleisch	$19.99
Apfel	Schweinefleisch	$18.99
Mesquite	Geflügel	$17.99

Traeger, Inc. (COOK) – Geschäftsmodell: Kundenbeziehungen

Direkt an den Verbraucher gerichtete Online-Verkaufsplattform

Im vierten Quartal 2023 erwirtschaftete die E-Commerce-Plattform von Traeger 89,3 Millionen US-Dollar an direkten Online-Verkäufen, was 32,4 % des Gesamtumsatzes des Unternehmens entspricht.

Online-Vertriebskanal	Einnahmen	Prozentsatz des Gesamtumsatzes
Direkter Website-Verkauf	89,3 Millionen US-Dollar	32.4%
Online-Händler von Drittanbietern	52,6 Millionen US-Dollar	19.1%

Aktive soziale Medien und Community-Engagement

Traeger unterhält eine aktive Social-Media-Präsenz mit:

• Instagram-Follower: 432.000
• Facebook-Follower: 378.000
• TikTok-Follower: 215.000

Kundensupport und Produktschulung

Traeger bietet umfassenden Kundensupport durch:

• Kundendienst-Telefonnummer rund um die Uhr
• Online-Chat-Unterstützung
• Antwortzeit des E-Mail-Supports: Durchschnittlich 4–6 Stunden

Treueprogramm und laufende Kundenkommunikation

Das Treueprogramm von Traeger, „Traeger Rewards“, umfasst:

• Mitgliederzahl: 127.000 aktive Mitglieder
• Durchschnittliche jährliche Ausgaben pro Treuemitglied: 637 $
• Umsatzbeitrag des Treueprogramms: 22,6 % des Gesamtumsatzes

Benutzergenerierte Inhalte und Rezeptfreigabe

Statistiken zur digitalen Rezeptplattform von Traeger:

Inhaltsmetrik	Nummer
Gesamtzahl der geteilten Rezepte	18,742
Monatlich aktive Rezept-Mitwirkende	4,213
Durchschnittliche monatliche Rezeptansichten	672,000

Traeger, Inc. (COOK) – Geschäftsmodell: Kanäle

Offizielle Traeger-Website

Direkter Online-Vertriebskanal mit einem E-Commerce-Umsatz von 420,3 Millionen US-Dollar im Jahr 2023. Die Website bietet einen vollständigen Produktkatalog mit 237 SKUs (Stand: 4. Quartal 2023).

Website-Traffic (monatlich)	Einzigartige Besucher
Durchschnitt 2023	1,2 Millionen

E-Commerce-Plattformen

Mehrere digitale Vertriebskanäle von Drittanbietern generieren zusätzliche Einnahmen.

Plattform	Jährliches Verkaufsvolumen
Amazon	87,6 Millionen US-Dollar
Walmart	53,2 Millionen US-Dollar

Einzelhandelspartnergeschäfte

Umfangreiches physisches Einzelhandelsvertriebsnetz.

• Home Depot: 2.296 Geschäfte führen Traeger-Produkte
• Lowe's: 1.975 Geschäfte mit Traeger-Grillgeräten

Einzelhandelspartner	Produktabdeckung
Heimdepot	89 % der Produktpalette
Lowes	76 % der Produktpalette

Mobile Anwendung

Digitale Plattform zur Unterstützung des Produktökosystems.

App-Metrik	Daten für 2023
Gesamtzahl der Downloads	742,000
Monatlich aktive Benutzer	328,000

Social-Media-Marketingkanäle

Digitale Engagement-Plattformen für die Markenkommunikation.

Plattform	Follower/Abonnenten
Instagram	487,000
Facebook	612,000
YouTube	276,000

Traeger, Inc. (COOK) – Geschäftsmodell: Kundensegmente

Liebhaber des Outdoor-Kochens

Marktgröße: 25,6 Millionen US-Haushalte, die sich im Jahr 2023 aktiv mit Outdoor-Kochen beschäftigen.

Demografische Aufschlüsselung	Prozentsatz
Alter 35-54	42%
Haushaltseinkommen 75.000 bis 150.000 US-Dollar	38%
Männliche Verbraucher	62%

Hobbygriller und Hobbygriller für zu Hause

Durchschnittliche jährliche Ausgaben für Grillgeräte: 789 US-Dollar pro Haushalt.

• Kochhäufigkeit am Wochenende: 73 % kochen 2-3 Mal pro Woche
• Besitz von Pelletgrills: 18 % des gesamten Grillmarktes
• Durchschnittlicher Austauschzyklus des Grills: 5–7 Jahre

Verbraucher von Premium-Küchengeräten

Angestrebter Marktwert: 4,2 Milliarden US-Dollar im Premium-Segment für Outdoor-Kochgeräte im Jahr 2023.

Preisspanne	Marktanteil
$500-$1,500	45%
$1,500-$3,000	32%
Über 3.000 $	23%

Kulinarische Profis und Feinschmecker

Marktsegment Profiköche: 127.000 Profiköche, die an fortschrittlichen Kochtechnologien interessiert sind.

• Absolventen einer Kochschule: 62.000
• Restaurantköche nutzen fortschrittliche Grilltechnologie: 45 %
• Kochbuchautoren, die Pelletgrills empfehlen: 28

Technisch versierte Verbraucher, die im Freien kochen

Markt für intelligente Grilltechnologie: 876 Millionen US-Dollar im Jahr 2023.

Technologieeinführung	Prozentsatz
Mit WLAN verbundene Grills	22%
Mobile App-Integration	37%
Temperaturkontrollfunktionen	41%

Traeger, Inc. (COOK) – Geschäftsmodell: Kostenstruktur

Herstellungs- und Produktionskosten

Für das Geschäftsjahr 2023 meldete Traeger Gesamtkosten der verkauften Waren (COGS) von 331,7 Millionen US-Dollar. Die Produktionskosten setzen sich wie folgt zusammen:

Ausgabenkategorie	Betrag ($)
Rohstoffkosten	156,800,000
Direkte Arbeit	48,300,000
Fertigungsaufwand	126,600,000

Forschungs- und Entwicklungsinvestitionen

Traeger stellte im Jahr 2023 21,4 Millionen US-Dollar für Forschungs- und Entwicklungskosten bereit, was 4,5 % des Gesamtumsatzes entspricht.

Marketing und Markenförderung

Die Marketingausgaben für Traeger beliefen sich im Jahr 2023 auf insgesamt 67,5 Millionen US-Dollar, darunter:

• Digitale Werbung: 24,3 Millionen US-Dollar
• Traditionelle Medienkampagnen: 15,2 Millionen US-Dollar
• Sponsoring und Eventmarketing: 12,6 Millionen US-Dollar
• Content-Erstellung und soziale Medien: 15,4 Millionen US-Dollar

Lieferkette und Logistik

Die Lieferketten- und Logistikkosten für Traeger beliefen sich im Jahr 2023 auf etwa 52,6 Millionen US-Dollar, darunter:

Logistikkomponente	Betrag ($)
Transport	22,300,000
Lagerhaltung	18,700,000
Bestandsverwaltung	11,600,000

Wartung der Technologieinfrastruktur

Die Ausgaben für Technologie und IT-Infrastruktur für Traeger beliefen sich im Jahr 2023 auf 16,3 Millionen US-Dollar, darunter:

• Cloud Computing: 5,7 Millionen US-Dollar
• Softwarelizenzierung: 4,2 Millionen US-Dollar
• Hardwarewartung: 3,9 Millionen US-Dollar
• Cybersicherheit: 2,5 Millionen US-Dollar

Traeger, Inc. (COOK) – Geschäftsmodell: Einnahmequellen

Direktverkauf von Grills und Zubehör

Im Geschäftsjahr 2022 meldete Traeger einen Nettoumsatz von 795,7 Millionen US-Dollar mit Grills und Geräten. Der durchschnittliche Verkaufspreis von Traeger-Grills liegt je nach Modell zwischen 499 und 2.199 US-Dollar.

Kategorie „Grill“.	Durchschnittliche Preisspanne	Geschätzter Jahresumsatz
Tragbare Grills	$499 - $799	125,4 Millionen US-Dollar
Grills der Pro-Serie	$999 - $1,499	345,6 Millionen US-Dollar
Timberline-Serie	$1,799 - $2,199	324,7 Millionen US-Dollar

Zubehör und Ersatzteile

Traeger erzielte im Jahr 2022 einen Umsatz mit Zubehör und Ersatzteilen in Höhe von 87,3 Millionen US-Dollar.

• Grillabdeckungen: 15,2 Millionen US-Dollar
• Ersatzteile: 22,5 Millionen US-Dollar
• Kochzubehör: 49,6 Millionen US-Dollar

Verkauf von Holzpellets und Verbrauchsmaterialien

Der Umsatz mit Holzpellets erreichte im Jahr 2022 129,5 Millionen US-Dollar, was 13,2 % des Gesamtumsatzes des Unternehmens entspricht.

Pellettyp	Jährliches Verkaufsvolumen	Durchschnittspreis pro Beutel
Signature-Mischung	540.000 Säcke	$18.99
Hickory-Pellets	380.000 Säcke	$19.99
Mesquite-Pellets	260.000 Säcke	$20.49

Digitale Plattform- und App-bezogene Einnahmen

Die Einnahmen aus digitalen Plattformen beliefen sich im Jahr 2022 auf insgesamt 22,1 Millionen US-Dollar, was 2,2 % des Gesamtumsatzes des Unternehmens entspricht.

Abonnement- und Premium-Serviceangebote

Premium-Abonnementdienste erwirtschafteten im Jahr 2022 11,4 Millionen US-Dollar, darunter Traeger Pro und erweiterte digitale Funktionen.

Abonnementstufe	Monatspreis	Jahresabonnenten
Traeger Pro Basic	$4.99	35,000
Traeger Pro Premium	$9.99	18,000

Traeger, Inc. (COOK) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Traeger, Inc. (COOK) over the competition, even when the macro environment is tight. It really boils down to flavor, technology, and brand pull. The company's mission is to 'Create a More Flavorful World,' and the numbers from late 2025 show where that focus is paying off.

The promise of superior wood-fired flavor is directly supported by the recurring revenue stream from consumables. For the third quarter of fiscal year 2025, consumables revenue grew by 12.3% year-over-year, reaching $25.3 million. This recurring revenue stream is what you want to see for long-term stability; they are selling the flavor, not just the hardware. The core grill business remains the largest revenue driver, bringing in $76.6 million in Q3 FY2025, which was an increase of 2.2% compared to the prior year.

Ease of use centers on the WiFIRE technology, which connects the smartphone via the Traeger App, allowing users to change temperatures, monitor food temps, and add smoke from anywhere, at any time. This smart grilling technology includes features like Apple Watch integration and GrillGuide for step-by-step cooking cycles.

Premium, durable grill quality justifies the higher price points when you look at the hardware itself. For instance, the high-end Timberline 1300 model weighs in at 220 lbs and offers 1300 sq. in. of cooking area. This heft and build quality contrast with competitors, positioning the top-tier units as a substantial, premium backyard centerpiece.

The lifestyle and community aspect, often called the 'Traegerhood,' is the intangible value that drives brand loyalty. While I don't have a specific community engagement metric for late 2025, the continued strength of the core grill business, which grew 12.8% in Q1 FY2025 to $86.7 million, shows the brand's ability to capture demand for that experience.

Capturing new customers is being addressed with entry-level options. The successful launch of the Woodridge series directly benefited the grills business growth of 13% in Q1 FY2025. The Woodridge is positioned as the new entry-level option, replacing the older Pro, and is available in base, Pro, and Elite configurations. The base model is offered at the same price as the older Pro but includes a better grill body and a digital controller.

Here's a quick look at the revenue mix from the third quarter of fiscal year 2025, showing the relative importance of the hardware versus the flavor components:

Revenue Segment	Q3 FY2025 Amount	Year-over-Year Change
Grills	$76.6 million	Up 2.2%
Consumables	$25.3 million	Up 12.3%
Accessories	$23.5 million	Down 4.3%

Overall, the company is focused on operational efficiency, targeting $50 million in total annualized cost savings from Project Gravity to help manage headwinds like tariffs and support the core value propositions. The reiterated Fiscal Year 2025 revenue guidance is between $540 million and $555 million.

Traeger, Inc. (COOK) - Canvas Business Model: Customer Relationships

You're looking at how Traeger, Inc. keeps its customers engaged beyond the initial grill purchase. It's less about transactional support and more about building a lifestyle, which is key to driving recurring revenue.

The community aspect, often called the Traegerhood, is central to this. Traeger, Inc. reports robust consumer engagement data derived from their connected grills. This loyalty directly supports the consumables business, which saw revenue growth of 12% in the third quarter of fiscal year 2025, hitting $25 million in that period. That recurring revenue stream is defintely what you want to see for long-term stability. Sell the flavor, not just the hardware.

Social media presence is a major driver for this engagement, hosting a large audience base as of late 2025:

• Facebook Followers: 678,647
• Instagram Followers: 1,268,825
• Pinterest Followers: 86,225

Traeger, Inc. also cultivates this community through digital content and direct interaction. The Traeger App offers hundreds of recipes, and the company hosts live cooking classes and competitive grilling events with Traeger pros. The proprietary GrillGuide® technology leverages this by allowing users to download step-by-step cooking cycles directly to their WiFIRE® controller, simplifying complex cooks for all skill levels.

Regarding channel partners, Traeger, Inc. actively engages in co-promotional activities, confirming that they split promo costs with these partners to drive grill sales to consumers. This focus on wholesale channels is part of a broader strategic shift, as the company is exiting its direct-to-consumer business by redirecting Traeger.com consumers to retail partners' websites. Increased funding for promotional activity was noted as a factor impacting gross margin in the first quarter of fiscal 2025.

The WiFIRE® technology is the backbone of automated support and enhanced user experience. This feature connects the grill to the Traeger App, allowing users to change temperatures, monitor food temps, and add smoke from anywhere, at any time, using a smartphone. The integration extends to the Apple Watch, enabling users to switch grill temperature or activate the Keep Warm Mode right from their wrist. This connectivity provides the data that management uses to confirm robust consumer engagement.

Here's a look at how some of these customer-facing elements relate to recent financial performance:

Customer Relationship Element	Related Financial Metric/Data Point (FY25)	Value/Amount
Community/Lifestyle Focus (Traegerhood)	Consumables Revenue (Q3 FY25)	$25 million
Community/Lifestyle Focus (Traegerhood)	Consumables Revenue Growth (Q3 FY25 YoY)	12%
Channel Partner Promotions	Impact on Q1 FY25 Gross Margin	Increased funding for promotional activity
WiFIRE/App Control	Grill Revenue Growth (Q1 FY25 YoY)	12.8%

Finance: review the Q4 2025 promotional spend against the Q1 2025 impact by next Tuesday.

Traeger, Inc. (COOK) - Canvas Business Model: Channels

You're looking at the strategic pivot Traeger, Inc. (COOK) is making across its sales channels as of late 2025, driven by the cost-saving and efficiency-focused Project Gravity initiative. This isn't just tweaking; it's a fundamental re-weighting toward wholesale partners to create a leaner, more profitable business structure.

The company's channel strategy is heavily leaning into established big-box relationships while systematically dialing back its direct engagement. This shift is partly about navigating tariff impacts-Traeger, Inc. expects to offset approximately 80% of its $60 million unmitigated tariff exposure in Fiscal Year 2025 through these structural changes and pricing adjustments.

Large-format retail stores (e.g., Home Depot, Costco in-line).

Large-format retail remains a cornerstone, with products available through major retailers like The Home Depot, Amazon, and Best Buy. However, a specific, high-touch program is being eliminated. As part of Phase 2 of Project Gravity, Traeger, Inc. is exiting the Costco roadshow program by the end of the year. This move, alongside others, is part of the plan expected to contribute approximately $20 million in annualized cost savings. The overall Fiscal Year 2025 revenue guidance is set between $540 million and $555 million.

To give you a sense of the current revenue mix, based on the first quarter of 2025, the core grill business, which flows heavily through these retail channels, accounted for 60.5% of total revenue.

Q3 2025 Revenue Segment	Amount (Millions USD)	Year-over-Year Change
Grills	$76.6 million	Up 2.2%
Consumables	$25.3 million	Up 12.3%
Accessories	$23.5 million	Down 4.3%
Total Revenue	$125.4 million	Up 2.7%

Exiting direct-to-consumer (DTC) sales on Traeger.com to redirect to retail.

This is a definitive strategic move. Traeger, Inc. is redirecting Traeger.com consumers to its retail partners' websites as part of a planned exit from the direct-to-consumer business. The company intends to use its website primarily for storytelling rather than as a sales channel moving forward. This aligns with a broader industry trend where general retail SG&A (Selling, General & Administrative) is often lower than pure-play DTC fulfillment costs; for general retail, SG&A typically runs around 21.07% of sales, compared to a higher burden often seen in direct sales.

Distributor model for certain international markets like Europe.

For international expansion, the model is shifting from direct operation to partnership. Traeger, Inc. is transitioning to a distributor model in European markets that previously operated under a direct sales structure. This is a critical adjustment, especially considering the significant pressure seen in that region previously; Rest of World revenues declined by 32.0% in the second quarter of 2025. However, there are signs of stabilization, as Rest of World revenues showed an increase of 9.9% year-over-year in the third quarter of 2025.

Specialty dealers and independent grill stores.

While specific revenue percentages for specialty dealers aren't public, the overall strategy emphasizes alignment with wholesale partners. The company's focus on strategic pricing shifts and supply chain efficiencies is noted as partially offsetting tariff-related gross margin contraction, which suggests deep collaboration with its entire wholesale network, including specialty dealers. The company is also working to diversify its supply chain outside of China, with a meaningful production shift expected by the end of 2026.

Finance: draft 13-week cash view by Friday.

Traeger, Inc. (COOK) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Traeger, Inc. as of late 2025. These aren't just casual backyard cooks; they represent distinct purchasing behaviors that drive both hardware sales and the recurring revenue engine.

Dedicated BBQ enthusiasts and home chefs seeking premium flavor.

This group is chasing that authentic wood-fired taste. They are the ones who see the grill as a serious cooking appliance, not just a seasonal purchase. They are likely the buyers of the higher-end Ironwood and Timberline series, which command prices well over the entry-level mark. For instance, the Ironwood XL was listed around $\mathbf{\$2,200}$ and the Timberline models were priced at $\mathbf{\$1,700}$ and up in early 2025 reviews. These enthusiasts are key because they drive the demand for the premium consumables that keep them coming back.

Tech-savvy consumers valuing WiFIRE remote control.

This segment values the Internet of Things (IoT) integration that Traeger, Inc. has built into its ecosystem. They want to monitor and control their cooks from their smartphones, using the WiFIRE technology. Models featuring this connectivity, like the Pro 575, were listed for $\mathbf{\$799.99}$ in some 2025 pricing guides, while the Ironwood 650 was listed at $\mathbf{\$1,299.99}$. The IoT kitchen system market itself was projected to grow at a $\mathbf{15\%}$ Compound Annual Growth Rate, showing the importance of this tech-forward customer base to Traeger, Inc.'s long-term strategy. This group is definitely interested in the app integration and the GrillGuide step-by-step cooking cycles.

Mass-market consumers buying sub-$\text{1,000}$ entry-level grills.

This group is price-sensitive but still drawn to the brand's core offering. They represent the volume opportunity, especially as the company works to increase household penetration, which stood at only $\mathbf{3.5\%}$ in U.S. households as of the start of 2025. The Woodridge series is positioned here; the base Woodridge model is the new entry-level offering, replacing the older Pro series. The Woodridge Pro was specifically highlighted as a sub-$\mathbf{\$1,000}$ option, making it the gateway for many new customers into the ecosystem. The company's Q1 2025 grill revenue was $\mathbf{\$86.7}$ million, showing the importance of hardware sales to the top line, even with price pressures.

Existing grill owners driving the high-margin consumables business.

Once the hardware is sold, this segment becomes the most financially critical for sustained profitability. These are the repeat purchasers of wood pellets, rubs, and sauces. Looking at the third quarter of fiscal 2025, consumables revenue hit $\mathbf{\$25.3}$ million, representing about $\mathbf{20.18\%}$ of the total $\mathbf{\$125.4}$ million in revenue for that period. This percentage is significant because consumables generally carry higher margins than the grills themselves. For comparison, in the same quarter, grill revenue was $\mathbf{\$76.6}$ million. The focus on wood pellet sales growth, as noted in the Q3 2025 results, confirms this segment's role in driving profitability, even when overall grill unit volume is down. If onboarding takes 14+ days, churn risk rises.

Here is a snapshot of the revenue contribution from the main product categories for the third quarter ending September 30, 2025:

Revenue Category	Q3 2025 Revenue (Millions USD)	Percentage of Total Revenue
Grills	$\mathbf{\$76.6}$	$\mathbf{61.08\%}$
Consumables	$\mathbf{\$25.3}$	$\mathbf{20.18\%}$
Accessories	$\mathbf{\$23.5}$	$\mathbf{18.74\%}$

Finance: draft 13-week cash view by Friday.

Traeger, Inc. (COOK) - Canvas Business Model: Cost Structure

You're looking at the major outlays that keep Traeger, Inc. running, and right now, the cost side is heavily influenced by restructuring and external pressures like tariffs. Honestly, managing these costs is key to hitting their profitability targets for the year.

The cost structure is clearly burdened by the expense of making and moving the product. The Cost of Goods Sold (COGS) is a significant line item. For the third quarter of fiscal 2025, the Cost of Sales was reported at $76.85 million on total revenues of $125.4 million. This pressure is visible in the Gross Profit Margin, which contracted to 38.7% in Q3 2025, a year-over-year contraction of 360 basis points. A major driver here is the tariff impact; in Q3 2025 alone, tariff costs totaled $8 million, which accounted for 670 basis points of unfavorability on the gross margin. The company has stated an expectation to offset 80% of its total $60 million tariff exposure for fiscal 2025.

To address operational costs, Traeger, Inc. is executing Project Gravity, a multi-step restructuring program. The anticipated pre-tax charges for currently known actions under this program range from $25.0 million to $31.0 million. This total charge is broken down into expected pre-tax charges for professional fees and other related costs of $16.0 million to $21.0 million, plus severance and other personnel-related costs estimated between $9.0 million to $10.0 million. The goal is substantial completion by the end of 2026, targeting annualized pre-tax cost savings of about $58 million.

Operating expenses show a mixed picture. Sales and marketing expenses are showing some reduction, which is a positive sign for cost control in that area. For the third quarter of 2025, Sales and Marketing expenses were $20.0 million, down from $26.2 million in the third quarter of the prior year. General and administrative expenses were $22.2 million in Q3 2025.

Inventory holding costs are a factor, as the company carries substantial stock to meet demand. Inventory levels at the end of the third quarter of 2025 stood at $114.6 million, up from $107.4 million at the end of 2024.

Here's a quick look at some of the key cost components from the Q3 2025 period and related figures:

Cost Component	Amount (USD)	Period/Context
Project Gravity Restructuring Charges (Total Expected)	$25.0 million to $31.0 million	Total Pre-tax Charges for Known Actions
Sales and Marketing Expenses	$20.0 million	Q3 2025
Inventory Value	$114.6 million	End of Q3 2025
Cost of Sales (COGS)	$76.85 million	Q3 2025
Gross Profit	$48.5 million	Q3 2025
Tariff-Related Unfavorability on Gross Margin	670 basis points	Q3 2025

The supply chain and logistics expenses are implicitly high, as evidenced by the direct tariff impact and the strategic shift in Project Gravity Phase 2, which includes supply chain and manufacturing efficiencies and a transition to a distributor model in certain European markets. Also, the company is exiting its direct-to-consumer business via Traeger.com to redirect shoppers to retail partners.

Finance: draft 13-week cash view by Friday.

Traeger, Inc. (COOK) - Canvas Business Model: Revenue Streams

You're looking at the core ways Traeger, Inc. (COOK) brings in money, which is heavily weighted toward hardware sales but increasingly reliant on the recurring consumables stream. The company's financial outlook for Fiscal Year 2025 reflects this dynamic, with total revenue guidance set between $540 million and $555 million, representing an expected decline of 8% to 11% versus the prior year.

The revenue streams break down into four main categories, each with its own near-term performance characteristics as of late 2025.

• - Grill sales (hardware), expected to decline high single digits in FY2025.
• - Consumables (pellets, rubs, sauces), a high-margin, reoccurring stream.
• - Accessories (e.g., MEATER smart thermometers).
• - FY2025 total revenue guidance of $540 million to $555 million.
• - Consumables revenue grew 12.3% to $25.3 million in Q3 2025.

To give you a clear picture of the most recent segment performance, here's the breakdown from the third quarter of Fiscal Year 2025, which ended September 30, 2025:

Revenue Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Change
Grills (Hardware)	$76.6 million	Up 2.2%
Consumables	$25.3 million	Up 12.3%
Accessories	$23.5 million	Down 4.3%
Total Revenue	$125.4 million	Up 2.7%

The hardware side, the grill sales, is where you see the most volatility and the pressure mentioned in the guidance. For instance, in the second quarter of 2025, grill revenues were down a significant 21.9% to $74.2 million year-over-year, driven by lower unit volume. So, while Q3 showed a slight rebound in grill revenue to $76.6 million, the overall annual expectation suggests a contraction for the full year, which is why the total revenue guidance is down year-over-year.

The consumables stream is the bright spot for margin and recurrence. In Q3 2025, this segment grew 12.3% to $25.3 million, primarily fueled by wood pellet sales. This contrasts with Q2 2025, where consumables grew 7.5% to $36.4 million, showing some quarterly fluctuation in the growth rate.

Accessories revenue, which includes the MEATER smart thermometers, continues to face headwinds. In Q3 2025, accessories revenue was $23.5 million, a decrease of 4.3% compared to the prior year. This follows a steeper drop in Q2 2025, where accessories fell 11.9% to $34.9 million, largely attributed to lower MEATER sales. Management specifically noted that the FY2025 revenue outlook assumes continued softness in accessories revenue due to anticipated decreases in MEATER sales.