Snap One Holdings Corp. Releases 10-K Report

Snap One Holdings Corp. has recently released its 10-K report, providing a comprehensive overview of its financial performance and operations. The company, formerly known as Crackle Intermediate Corp., is now a subsidiary of Hellman & Friedman, LLC. Snap One offers a range of smart living solutions, including connected products, entertainment products, infrastructure products, and software solutions. It sells its products through integrators, distributors, and e-commerce portals.

In the 10-K report, Snap One highlighted key factors affecting its performance. The company's historical financial performance has been primarily driven by factors such as increased average spend per integrator, DIFM integrator additions in home technology, commercial, and international markets, investments in its integrated platform, omni-channel strategy expansion, and strategic acquisitions.

The report also presented key metrics and reconciliation of non-GAAP financial data, including domestic integrator net sales, transacting domestic integrators, and spend per transacting domestic integrator. For instance, in the fiscal year ending December 29, 2023, domestic integrator net sales amounted to $904,788, with 19.7 transacting domestic integrators, resulting in a spend per transacting domestic integrator of $45.9.

Additionally, the report provided insights into adjusted EBITDA and adjusted net income. Snap One defines adjusted EBITDA as net loss, plus interest expense, income tax benefit, depreciation and amortization, and further adjusted to exclude various non-recurring, non-core, infrequent, or unusual charges. The company reported adjusted EBITDA of $117,172 for the fiscal year ending December 29, 2023.

Today the company's shares have moved -2.3% to a price of $7.34. For more information, read the company's full 10-K submission here.

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