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CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY) (Tables)

12 Months Ended

Dec. 31, 2023

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)

Schedule of condensed balance sheets

Latham Group, Inc.

(Parent Company Only)

Condensed Balance Sheets

(in thousands, except share and per share data)

​

​	​	​	​	​	​	​
​	​	December 31,
​		2023			2022
Assets	​	​			​
Investment in subsidiary	​	$	399,200	​	$	382,790
Total assets	​	$	399,200	​	$	382,790
Liabilities and Stockholders’ Equity	​			​
Total liabilities	​	$	—	​	$	—
Stockholders’ Equity	​			​
Preferred stock, $0.0001 par value; 100,000,000 shares authorized as of both December 31, 2023 and December 31, 2022; no shares issued and outstanding as of both December 31, 2023 and December 31, 2022	​	​	—	​	​	—
Common stock, $0.0001 par value; 900,000,000 shares authorized as of December 31, 2023 and December 31, 2022; 114,871,782 and 114,667,975 shares issued and outstanding, as of December 31, 2023 and December 31, 2022, respectively	​		11	​		11
Additional paid-in capital	​		459,684	​		440,880
Accumulated deficit	​		(56,956)	​		(54,568)
Accumulated other comprehensive loss	​		(3,539)	​		(3,533)
Total stockholders’ equity	​		399,200	​		382,790
Total liabilities and stockholders’ equity	​	$	399,200	​	$	382,790

Schedule of condensed statements of operations

Latham Group, Inc.

(Parent Company Only)

Condensed Statements of Operations

(in thousands, except share and per share data)

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
​		2023			2022			2021
Equity in net loss of subsidiary	​	$	(2,388)	​	$	(5,694)	​	$	(62,348)
Net loss attributable to common stockholders	​	$	(2,388)	​	$	(5,694)	​	$	(62,348)
Net loss per share	​			​			​
Net loss per share attributable to common stockholders – basic and diluted	​	​	​	​	​	​	​	​	​
Basic	​	$	(0.02)	​	$	(0.05)	​	$	(0.56)
Diluted	​	$	(0.02)	​	$	(0.05)	​	$	(0.56)
Weighted-average common shares outstanding – basic and diluted	​	​	​	​	​	​	​	​	​
Basic	​	​	112,899,586	​	​	113,245,421	​	​	110,644,366
Diluted	​		112,899,586	​		113,245,421	​		110,644,366

Schedule of condensed statements of comprehensive income

Latham Group, Inc.

(Parent Company Only)

Condensed Statements of Comprehensive Loss

(in thousands)

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
​		2023			2022			2021
Net loss	​	$	(2,388)	​	$	(5,694)	​	$	(62,348)
Equity in other comprehensive loss of subsidiary	​		(6)	​		(3,903)	​		(1,984)
Comprehensive loss	​	$	(2,394)	​	$	(9,597)	​	$	(64,332)

Schedule of condensed statements of cash flows

Latham Group, Inc.

(Parent Company Only)

Condensed Statement of Cash Flows

(in thousands)

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
​		2023			2022			2021
Cash flows from operating activities:		​			​			​
Net loss	​	$	(2,388)	​	$	(5,694)	​	$	(62,348)
Adjustments to reconcile net loss to net cash provided by operating activities:	​			​			​
Equity in net loss of subsidiary	​		2,388	​		5,694	​		62,348
Net cash provided by operating activities	​		—	​		—	​		—
Cash flows from investing activities:	​			​			​
Distribution from subsidiary	​	​	—	​	​	23,038	​	​	—
Investment in subsidiary	​		—	​		—	​		(117,626)
Net cash provided by (used in) investing activities	​		—	​		23,038	​		(117,626)
Cash flows from financing activities:	​			​			​
Proceeds from initial public offering, net of underwriting discounts, commissions and offering costs	​	​	—	​	​	—	​	​	399,264
Proceeds from issuance of common stock	​	​	—	​	​	257,663	​	​	—
Repurchase and retirement of common stock	​	​	—	​	​	(280,701)	​	​	(281,638)
Net cash (used in) provided by financing activities	​		—	​		(23,038)	​		117,626
Net increase in cash	​		—	​		—	​		—
Cash at beginning of period	​		—	​		—	​		—
Cash at end of period	​	$	—	​	$	—	​	$	—

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Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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