Traeger, Inc. (COOK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Imagine transformar su patio trasero en un paraíso culinario con tecnología que revoluciona la cocina al aire libre, esa es la promesa de Traeger. En la intersección de la innovación y la pasión, Traeger, Inc. ha creado un modelo de negocio que va mucho más allá de la parrilla tradicional, ofreciendo a los entusiastas de los alimentos expertos en tecnología una experiencia de madera premium que combina sin problemas con la conectividad de vanguardia con tradiciones de cocina en el tiempo. Su enfoque único transforma las comidas ordinarias en aventuras culinarias extraordinarias, lo que hace que cada momento de la parrilla sea una oportunidad para la excelencia gastronómica.

Traeger, Inc. (Cook) - Modelo de negocio: asociaciones clave

Proveedores de gránulos de madera y componentes de parrilla

Traeger obtiene gránulos de madera de múltiples proveedores, con aproximadamente el 70% de las materias primas adquiridas de los fabricantes nacionales de EE. UU. Los proveedores de pellets de madera clave incluyen:

Proveedor	Volumen de suministro anual	Duración del contrato
Gránulos de la costa del Pacífico	350,000 toneladas	Acuerdo de 3 años
Tecnologías de madera del noroeste	275,000 toneladas	Contrato de 2 años

Socios de fabricación en China y Vietnam

Traeger mantiene asociaciones estratégicas de fabricación con instalaciones en Asia:

• Shenzhen Manufacturing Co., Ltd. (China): produce el 60% de los componentes de la parrilla
• Hanoi Industrial Partners (Vietnam): suministra el 40% de la capacidad de fabricación
• Capacidad de producción anual total: 250,000 parrillas

Distribuidores minoristas

Traeger colabora con los principales canales minoristas:

Distribuidor	Volumen de ventas (2023)	Penetración del mercado
Depósito de hogar	85,000 unidades	35% de las ventas totales
Lowe's	62,000 unidades	25% de las ventas totales
Amazonas	48,000 unidades	19% de las ventas totales

Plataformas de marketing digital y comercio electrónico

Los socios clave de colaboración digital incluyen:

• Shopify: integración de plataforma de comercio electrónico
• Plataforma de marketing de Google: publicidad digital
• Gerente de Meta ADS: Marketing en redes sociales

Influenciadores de la marca de cocina y estilo de vida al aire libre

Traeger se involucra con influenciadores culinarios profesionales y personalidades de cocina al aire libre:

Categoría de influencer	Número de asociaciones	Alcance estimado
Chefs profesionales	12 asociaciones	2.5 millones de seguidores
Expertos de cocina al aire libre	8 asociaciones	1.8 millones de seguidores

Traeger, Inc. (Cook) - Modelo de negocio: actividades clave

Diseño y fabricación de parrillas de pellets de madera

Traeger produjo aproximadamente 500,000 parrillas en 2022, con instalaciones de fabricación ubicadas en China y Estados Unidos.

Métricas de producción de parrilla	Datos 2022
Grills totales fabricadas	500,000 unidades
Costo de producción promedio	$ 350- $ 450 por unidad
Ubicación de fabricación	China y Estados Unidos

Desarrollar tecnología de cocina innovadora

Traeger invirtió $ 12.3 millones en investigación y desarrollo en 2022, centrándose en tecnologías avanzadas de parrilla de pellets.

• Integración de tecnología de wifire
• Sistemas de control de temperatura digital
• Algoritmos de cocina inteligente

Plataforma digital y desarrollo de aplicaciones

La aplicación móvil de Traeger tiene más de 750,000 usuarios activos a partir del cuarto trimestre de 2022, con inversiones de plataformas digitales en curso.

Métricas de plataforma digital	2022 estadísticas
Aplicación móvil usuarios activos	750,000
Inversión de plataforma digital	$ 3.5 millones

Creación de marketing y experiencia de marca

Traeger asignó $ 45.2 millones a los gastos de marketing en 2022, lo que representa el 15.6% de los ingresos totales.

• Marketing en redes sociales
• Asociaciones de influencia
• Creación de contenido

Investigación y desarrollo de productos

El gasto de I + D para el desarrollo de nuevos productos alcanzó los $ 12.3 millones en 2022, lo que representa el 4.2% de los ingresos totales.

Áreas de enfoque de I + D	Detalles de inversión
Gasto total de I + D	$ 12.3 millones
Porcentaje de ingresos	4.2%
Nuevas líneas de productos	3 lanzamientos principales de productos

Traeger, Inc. (Cook) - Modelo de negocio: recursos clave

Tecnología de parrilla de pellets de madera patentada

Traeger posee 29 patentes activas relacionadas con la tecnología de parrilla de pellets de madera a partir de 2023. La compañía ha invertido $ 12.4 millones en investigación y desarrollo para innovaciones de la parrilla en el año fiscal 2022.

Categoría de patente	Número de patentes
Diseño de la parrilla	14
Mecanismo de alimentación de pellets	8
Control de temperatura	7

Reputación de marca fuerte en la cocina al aire libre

Traeger tiene un 37.5% de participación de mercado en parillas de pellets de madera A partir de 2022. Valor de marca estimado en $ 245 millones en 2023.

Ecosistema digital y aplicación móvil

• Plataforma digital con más de 1.2 millones de usuarios registrados
• Aplicación móvil descargada 750,000 veces en 2022
• Base de datos de recetas digitales que contiene más de 4,500 recetas generadas por el usuario

Infraestructura de fabricación y cadena de suministro

Traeger opera 2 instalaciones de fabricación primarias:

Ubicación	Capacidad de producción anual
Utah, EE. UU.	180,000 parrillas/año
Porcelana	120,000 parrillas/año

Propiedad intelectual y patentes de diseño

Portafolio de propiedad intelectual total valorada en $ 38.6 millones en 2022. Inversión continua del 4.2% de los ingresos anuales en el desarrollo de IP.

Traeger, Inc. (Cook) - Modelo de negocio: propuestas de valor

Experiencia de cocina a madera premium

Las parrillas de pellets de madera de Traeger generan $ 661.3 millones en ventas netas para el año fiscal 2022. El precio de venta promedio de las parrillas de Traeger varía de $ 599 a $ 3,499.

Categoría de parrilla	Gama de precios	Características clave
Parrillas portátiles	$599 - $899	Soluciones de cocina móviles livianas
Serie profesional	$1,299 - $2,199	Control de temperatura avanzado
Serie Timberline	$2,499 - $3,499	Tecnología de parrilla inteligente de la más alta gama

Tecnología de parrilla inteligente con conectividad de wifire

La tecnología Wifire permite el monitoreo y el control de la temperatura remota a través de la aplicación móvil.

• Más de 250,000 usuarios de aplicaciones móviles activas
• El 95% de las parrillas habilitadas para Wifire se conectan a la aplicación móvil
• Capacidades de seguimiento y ajuste de temperatura en tiempo real

Equipo de cocina al aire libre versátil de alta calidad

Traeger produce múltiples líneas de productos con diversas capacidades de cocina.

Categoría de productos	Número de modelos	Calificación promedio del cliente
Parrillas	12 modelos	4.6/5
Accesorios	Más de 50 artículos	4.4/5
Accesorios para cocinar	25 herramientas especializadas	4.5/5

Control de temperatura consistente y preciso

El controlador digital mantiene la temperatura dentro de ± 15 grados Fahrenheit del punto de ajuste.

• Rango de temperatura: 165 ° F - 500 ° F
• Elementos de calefacción de precisión en todos los modelos de nivel profesional
• Tecnología de cocina de convección patentada

Perfiles de sabor únicos a través de la cocción de pellets de madera

Traeger produce 8 sabores de pellets de madera diferentes para diversas experiencias de cocina.

Sabor a pellets de madera	Proteína principal recomendada	Precio minorista por bolsa de 20 libras
Nuez dura	Carne de res	$19.99
Manzana	Cerdo	$18.99
Mezquite	Aves de corral	$17.99

Traeger, Inc. (Cook) - Modelo de negocio: relaciones con los clientes

Plataforma de ventas en línea directa al consumidor

A partir del cuarto trimestre de 2023, la plataforma de comercio electrónico de Traeger generó $ 89.3 millones en ventas directas en línea, lo que representa el 32.4% de los ingresos totales de la compañía.

Canal de ventas en línea	Ganancia	Porcentaje de ingresos totales
Ventas directas del sitio web	$ 89.3 millones	32.4%
Minoristas en línea de terceros	$ 52.6 millones	19.1%

Redes sociales activas y compromiso comunitario

Traeger mantiene una presencia activa en las redes sociales con:

• Seguidores de Instagram: 432,000
• Seguidores de Facebook: 378,000
• Tiktok seguidores: 215,000

Atención al cliente y capacitación de productos

Traeger proporciona atención al cliente integral a través de:

• Línea telefónica de servicio al cliente 24/7
• Soporte de chat en línea
• Tiempo de respuesta de soporte por correo electrónico: promedio de 4 a 6 horas

Programa de fidelización y comunicación en curso al cliente

El programa de lealtad de Traeger, 'Traeger Rewards', incluye:

• Membresía: 127,000 miembros activos
• Gasto anual promedio por miembro de lealtad: $ 637
• Contribución de ingresos del programa de fidelización: 22.6% de las ventas totales

Contenido generado por el usuario y compartir recetas

Estadísticas de plataforma de recetas digitales de Traeger:

Métrico de contenido	Número
Recetas totales compartidas	18,742
Colaboradores mensuales de recetas activas	4,213
Vistas promedio de recetas mensuales	672,000

Traeger, Inc. (Cook) - Modelo de negocios: canales

Sitio web oficial de Traeger

Canal de ventas en línea directa con ingresos de comercio electrónico 2023 de $ 420.3 millones. El sitio web ofrece un catálogo de productos completo con 237 SKUS a partir del cuarto trimestre de 2023.

Tráfico del sitio web (mensual)	Visitantes únicos
Promedio de 2023	1.2 millones

Plataformas de comercio electrónico

Múltiples canales de ventas digitales de terceros que generan ingresos suplementarios.

Plataforma	Volumen de ventas anual
Amazonas	$ 87.6 millones
Walmart	$ 53.2 millones

Tiendas de socios minoristas

Extensa red física de distribución minorista.

• Home Depot: 2,296 tiendas que transportan productos Traeger
• Lowe's: 1,975 tiendas con equipo de parrilla Traeger

Socio minorista	Cobertura de productos
Depósito de hogar	89% de la alineación de productos
Lowe's	76% de la alineación de productos

Aplicación móvil

Plataforma digital que admite el ecosistema de productos.

Métrica de la aplicación	2023 datos
Descargas totales	742,000
Usuarios activos mensuales	328,000

Canales de comercialización de redes sociales

Plataformas de participación digital para la comunicación de la marca.

Plataforma	Seguidores/suscriptores
Instagram	487,000
Facebook	612,000
YouTube	276,000

Traeger, Inc. (Cook) - Modelo de negocio: segmentos de clientes

Entusiastas de la cocina al aire libre

Tamaño del mercado: 25.6 millones de hogares estadounidenses participados activamente en la cocina al aire libre a partir de 2023.

Desglose demográfico	Porcentaje
Edad 35-54	42%
Ingresos del hogar $ 75K- $ 150K	38%
Consumidores masculinos	62%

Aficionados de la barbacoa del hogar y la parrilla

Gasto anual promedio en equipos de parrilla: $ 789 por hogar.

• Frecuencia de cocina de fin de semana: 73% cocinar 2-3 veces por semana
• Propiedad de la parrilla de pellets: 18% del mercado de la parrilla total
• Ciclo promedio de reemplazo de la parrilla: 5-7 años

Consumidores de electrodomésticos de cocina premium

Valor de mercado objetivo: segmento de equipos de cocina al aire libre premium de $ 4.2 mil millones en 2023.

Gama de precios	Cuota de mercado
$500-$1,500	45%
$1,500-$3,000	32%
Más de $ 3,000	23%

Profesionales culinarios y amantes de la comida

Segmento de mercado de Chef Professional: 127,000 chefs profesionales interesados ​​en tecnologías de cocina avanzadas.

• Graduados de la escuela culinaria: 62,000
• Chefs de restaurantes con tecnología avanzada de parrilla: 45%
• Autores de libros de cocina que respaldan las parrillas de pellets: 28

Consumidores de cocina al aire libre expertos en tecnología

Smart Grill Technology Market: $ 876 millones en 2023.

Adopción de tecnología	Porcentaje
Parrillas conectadas con Wi-Fi	22%
Integración de aplicaciones móviles	37%
Características de control de temperatura	41%

Traeger, Inc. (Cook) - Modelo de negocio: Estructura de costos

Gastos de fabricación y producción

Para el año fiscal 2023, Traeger reportó un costo total de bienes vendidos (COGS) de $ 331.7 millones. Los gastos de producción se descomponen de la siguiente manera:

Categoría de gastos	Monto ($)
Costos de materia prima	156,800,000
Trabajo directo	48,300,000
Sobrecarga de fabricación	126,600,000

Inversiones de investigación y desarrollo

Traeger asignó $ 21.4 millones a los gastos de investigación y desarrollo en 2023, lo que representa el 4.5% de los ingresos totales.

Marketing y promoción de la marca

Los gastos de marketing para Traeger en 2023 totalizaron $ 67.5 millones, lo que incluye:

• Publicidad digital: $ 24.3 millones
• Campañas de medios tradicionales: $ 15.2 millones
• Patrocinio y marketing de eventos: $ 12.6 millones
• Creación de contenido y redes sociales: $ 15.4 millones

Cadena de suministro y logística

La cadena de suministro y los costos de logística para Traeger en 2023 fueron de aproximadamente $ 52.6 millones, que incluyen:

Componente de logística	Monto ($)
Transporte	22,300,000
Almacenamiento	18,700,000
Gestión de inventario	11,600,000

Mantenimiento de la infraestructura tecnológica

Los gastos de tecnología e infraestructura de TI para Traeger en 2023 ascendieron a $ 16.3 millones, lo que incluye:

• Computación en la nube: $ 5.7 millones
• Licencias de software: $ 4.2 millones
• Mantenimiento de hardware: $ 3.9 millones
• Ciberseguridad: $ 2.5 millones

Traeger, Inc. (Cook) - Modelo de negocios: flujos de ingresos

Ventas directas de parrilla y equipos

En el año fiscal 2022, Traeger reportó ventas netas de $ 795.7 millones de parrillas y equipos. El precio de venta promedio de las parrillas de Traeger varía de $ 499 a $ 2,199 dependiendo del modelo.

Categoría de parrilla	Rango de precios promedio	Ventas anuales estimadas
Parrillas portátiles	$499 - $799	$ 125.4 millones
Grills de la serie Pro	$999 - $1,499	$ 345.6 millones
Serie Timberline	$1,799 - $2,199	$ 324.7 millones

Accesorios y piezas de repuesto

Traeger generó $ 87.3 millones en accesorios e ingresos por piezas de repuesto en 2022.

• Cubras de parrilla: $ 15.2 millones
• Piezas de repuesto: $ 22.5 millones
• Accesorios para cocinar: $ 49.6 millones

Venta de pellets de madera y consumibles

Las ventas de pellets de madera alcanzaron los $ 129.5 millones en 2022, lo que representa el 13.2% de los ingresos totales de la compañía.

Tipo de pellet	Volumen de ventas anual	Precio promedio por bolsa
Mezcla de firma	540,000 bolsas	$18.99
Gránulos de nogal	380,000 bolsas	$19.99
Bolitas de mezquite	260,000 bolsas	$20.49

Plataforma digital e ingresos relacionados con la aplicación

Los ingresos de la plataforma digital totalizaron $ 22.1 millones en 2022, lo que representa el 2.2% de los ingresos totales de la compañía.

Ofertas de suscripción y servicios premium

Los servicios de suscripción premium generaron $ 11.4 millones en 2022, incluidos Traeger Pro y características digitales avanzadas.

Nivel de suscripción	Precio mensual	Suscriptores anuales
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.