LAZY Lazydays Holdings Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):

May 15, 2024

 

LAZYDAYS HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		001-38424		82-4183498
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

4042 Park Oaks Blvd., Suite 350, Tampa, Florida		33610
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code

(813) 246-4999

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock		LAZY		Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02 Results of Operations and Financial Condition

 

On May 15, 2024, Lazydays Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2024. A copy of the press release is furnished as Exhibit 99.1.

 

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)

Exhibits

 

Exhibit No.		Description
99.1		Press Release, dated May 15, 2024, announcing Lazydays’ financial results for the quarter ended March 31, 2024.
104		Cover Page Interactive Data File (formatted as inline XBRL).

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	LAZYDAYS HOLDINGS, INC.
May 15, 2024	By	/s/ Kelly Porter
Date		Kelly Porter
		Chief Financial Officer

 

 

 

 

Exhibit 99.1

 

 

LAZYDAYS REPORTS FIRST QUARTER 2024 RESULTS

 

Tampa, FL (May 15, 2024) – Lazydays (NasdaqCM: GORV) today reports results for the first quarter ended March 31, 2024.

 

John North, Chief Executive Officer, commented, “As we discussed in March, we expected our results for the first quarter to reflect a focus on both reducing the quantity and improving the health of vehicle inventory on hand. To that end, we made significant progress in these areas and finished the first quarter with approximately 85% of our new inventory model year 2024. However, our expectation to see increasing unit volumes in March and April as we entered the summer selling season did not materialize as we had hoped. We have continued to focus on maintaining our healthy inventory position as model year 2025 units arrive while increasing our efforts to procure more used units to augment our trade-ins and drive additional revenue opportunities. As of today, our new inventory is comprised of more than 90% 2024 and 2025 model year units, and we believe it is among the healthiest in the industry.”

 

Commenting on 2024, John stated, “Given the current market conditions and the larger than expected losses in the first quarter, for the full year we anticipate a pre-tax loss but both positive EBITDA and adjusted operational cash flow. I want to personally thank our operational team in the field for remaining upbeat and focused on pursuing every opportunity we can identify in the market today. While we are navigating the current economic environment alongside our OEM partners and competing dealers, we strongly believe in the earnings power of our store base and look forward to unlocking its full earnings potential as the industry recovers.”

 

Total revenue for the first quarter was $270.6 million compared to $295.7 million for the same period in 2023.

 

Net loss for the first quarter was $22.0 million compared to a net loss of $0.3 million for the same period in 2023. Adjusted net loss, a non-GAAP measure, was $21.4 million compared to adjusted net income of $1.2 million for the same period in 2023. Net loss per diluted share was $1.67 compared to net loss per diluted share of $0.17 for the same period in 2023. Adjusted net loss per diluted share was $1.63 compared to net income per diluted share of $0.00 for the same period in 2023.

 

Adjusted results for the first quarter of 2024 exclude a net non-core charge of $0.04 per diluted share related to our LIFO adjustment, transaction costs, and severance and transition costs. Adjusted results for the first quarter of 2023 exclude a net non-core charge of $0.17 per diluted share related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment, an impairment charge, acquisition expenses and severance and transition costs.

 

Balance Sheet Update

 

Earlier this week, we executed an amendment to our syndicated credit facility providing us with additional covenant flexibility through the first quarter of 2025.

 

To facilitate the amendment, we agreed to raise an additional $15 million. Following the process outlined below, we negotiated a $15 million increase in the mortgage loan facility we established in December, funded by clients of Coliseum Capital Management. The terms of the incremental advance are substantially similar to the terms of the existing mortgage loan facility and is secured by the inclusion of another dealership facility into the collateral pool. We intend to use $5 million of the proceeds from the advance to pay down a portion of the revolver under our syndicated credit facility, with the remaining $10 million available for general corporate purposes. In connection with the incremental advance, Lazydays issued warrants to clients of Coliseum Capital Management to purchase 2,000,000 shares of common stock at a price of $5.25 per share, subject to certain adjustments.

 

 

Our board of directors established a special committee of independent directors and delegated to the special committee authority to evaluate and negotiate financing options as part of the amendment process. The special committee was advised by Richards Layton & Finger, P.A. and Holland & Knight LLP, and also obtained certain external financial market advice. Upon reviewing available alternatives, the special committee unanimously approved the increase to the size of the mortgage loan facility and related warrant issuance.

 

Kelly Porter, Chief Financial Officer, stated, “We appreciate the continued flexibility from our syndicated lenders, as well as the increased support we received from Coliseum. With cash on hand of $39 million as of today, inclusive of the additional funding provided by Coliseum, and the capacity to generate an estimated $45 million of additional mortgage loan proceeds as we refinance locations at a 75% loan-to-value, we believe we have a strong foundation on which to navigate the current macroeconomic environment.”

 

Conference Call Information

 

We have scheduled a conference call at 8:30 AM Eastern Time on Thursday, May 16, 2024 that will also be broadcast live over the internet.

 

The conference call may be accessed by telephone at (877) 407-8029 / +1 (201) 689-8029. To listen live on our website or for replay, visit https://www.lazydays.com/investor-relations.

 

About Lazydays

 

Lazydays has been a prominent player in the RV industry since our inception in 1976, earning a stellar reputation for delivering exceptional RV sales, service, and ownership experiences. Our commitment to excellence has led to enduring relationships with RVers and their families who rely on us for all of their RV needs.

 

With a strategic approach to rapid expansion, we are growing our network through both acquisitions and new builds. Our wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and an extensive range of accessories and parts ensure that Lazydays is the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road. Whether you’re a seasoned RVer or just starting your adventure, our dedicated team is here to provide outstanding support and guidance, making your RV lifestyle truly extraordinary.

 

Lazydays is a publicly listed company on the Nasdaq stock exchange under the ticker “GORV.”

 

Forward-Looking Statements

 

This press release includes “forward-looking statements” within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as “project,” “outlook,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “may,” “seek,” “would,” “should,” “likely,” “goal,” “strategy,” “future,” “maintain,” “continue,” “remain,” “target” or “will” and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements regarding:

 

●

Our efforts to procure more used units;

 

●

First quarter and full year 2024 results;

 

●

The earnings power of our store base, and our unlocking of its full earnings potential;

 

●

Our use of funds from the transaction with Coliseum Capital Management;

 

●

Our ability to generate additional mortgage loan proceeds; and

 

●

Our foundation to navigate the current macroeconomic environment.

 

 

By their nature, forward-looking statements involve risks and uncertainties because they relate to events that depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this press release. The risks and uncertainties that could cause actual results to differ materially from estimated or projected results include, without limitation, future economic and financial conditions (both nationally and locally), changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks associated with our indebtedness (including available borrowing capacity, compliance with financial covenants and ability to refinance or repay indebtedness on favorable terms), acts of God or other incidents which may adversely impact our operations and financial performance, government regulations, legislation and others set forth throughout “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in “Part I, Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K, and from time to time in our other filings with the SEC. We urge you to carefully consider this information and not place undue reliance on forward-looking statements. We undertake no duty to update our forward-looking statements, including our earnings outlook, which are made as of the date of this release.

 

Non-GAAP Financial Measures

 

This press release contains non-GAAP financial measures such as EBITDA, adjusted cash flow from operations, adjusted costs applicable to revenue, adjusted net income (loss), adjusted net income (loss) per diluted share, adjusted income (loss) before income taxes, adjusted SG&A, and adjusted income (loss) from operations. Non-GAAP measures do not have definitions under GAAP and may be defined differently by and not comparable to similarly titled measures used by other companies. As a result, we review any non-GAAP financial measures in connection with a review of the most directly comparable measures calculated in accordance with GAAP. We caution you not to place undue reliance on such non-GAAP measures, and also to consider them with the most directly comparable GAAP measures. We present cash flows from operations in the following tables, adjusted to include the change in non-trade floor plan debt to improve the visibility of cash flows related to vehicle financing. As required by SEC rules, we have reconciled these measures to the most directly comparable GAAP measures in the attachments to this release. We believe the non-GAAP financial measures we present improve the transparency of our disclosures; provide a meaningful presentation of our results from core business operations, because they exclude items not related to core business operations and other non-cash items; and improve the period-to-period comparability of our results from core business operations. These presentations should not be considered an alternative to GAAP measures.

 

In addition, we have not reconciled our fiscal year 2024 EBITDA or adjusted operational cash flow expectations. These are provided on a non-GAAP basis and cannot be reconciled to the closest GAAP measures without unreasonable effort because of the unpredictability of the amounts and timing of events affecting the items we exclude from non-GAAP measures.

 

Contact:

 

investors@lazydays.com

 

 

Results of Operations

 

		Three Months Ended March 31,								Variance
(In thousands except share and per share amounts)		2024				2023				%
Revenues
New vehicle retail		$	152,691			$	176,747				(13.6	)%
Pre-owned vehicle retail			79,576				84,775				(6.1	)%
Vehicle wholesale			6,249				1,708				NM
Finance and insurance			18,329				16,881				8.6	%
Service, body and parts and other			13,741				15,545				(11.6	)%
Total revenues			270,586				295,656				(8.5	)%
Cost applicable to revenues
New vehicle retail			147,055				153,331				(4.1	)%
Pre-owned vehicle retail			70,199				67,528				4.0	%
Vehicle wholesale			8,460				1,721				NM
Finance and insurance			693				693				—	%
Service, body and parts and other			6,287				7,181				(12.4	)%
LIFO			126				1,311				NM
Total cost applicable to revenues			232,820				231,765				0.5	%
Gross profit			37,766				63,891				(40.9	)%
Depreciation and amortization			5,461				4,403				24.0	%
Selling, general, and administrative expenses			48,886				53,532				(8.7	)%
(Loss) income from operations			(16,581	)			5,956				(378.4	)%
Other income (expense):
Floor plan interest expense			(7,676	)			(5,531	)			38.8	%
Other interest expense			(4,523	)			(1,700	)			166.1	%
Change in fair value of warrant liabilities			—				856				(100.0	)%
Total other expense, net			(12,199	)			(6,375	)			91.4	%
Loss before income taxes			(28,780	)			(419	)			NM
Income tax benefit			6,800				143				NM
Net loss			(21,980	)			(276	)			NM
Dividends on Series A Convertible Preferred Stock			(1,984	)			(1,184	)			67.6	%
Net loss and comprehensive loss attributable to common stock and participating securities		$	(23,964	)		$	(1,460	)			NM
Loss per share:
Basic		$	(1.67	)		$	(0.12	)			1,291.7	%
Diluted		$	(1.67	)		$	(0.17	)			882.4	%
Weighted average shares outstanding:
Basic			14,368,677				11,988,899
Diluted			14,368,677				11,988,899

 

*NM - not meaningful

 

 

Total Results Summary

 

		Three Months Ended March 31,								Variance
		2024				2023				%
Gross profit margins
New vehicle retail			3.7	%			13.2	%			(950	)bps
Pre-owned vehicle retail			11.8	%			20.3	%			(850	)bps
Vehicle wholesale			(35.4	)%			(0.8	)%			NM	bps
Finance and insurance			96.2	%			95.9	%			30	bps
Service, body and parts and other			54.2	%			53.8	%			40	bps
Total gross profit margin			14.0	%			21.6	%			(760	)bps
Total gross profit margin (excluding LIFO)			14.0	%			22.1	%			NM	bps
Retail units sold
New vehicle retail			2,055				1,980				3.8	%
Pre-owned vehicle retail			1,466				1,304				12.4	%
Total retail units sold			3,521				3,284				7.2	%
Average selling price per retail unit
New vehicle retail		$	74,263			$	89,266				(16.8	)%
Pre-owned vehicle retail			54,281				65,012				(16.5	)%
Average gross profit per retail unit (excluding LIFO)
New vehicle retail		$	2,704			$	11,826				(77.1	)%
Pre-owned vehicle retail			6,396				13,227				(51.6	)%
Finance and insurance			4,919				4,929				(0.2	)%
Revenue mix
New vehicle retail			56.4	%			59.8	%
Pre-owned vehicle retail			29.4	%			28.7	%
Vehicle wholesale			2.3	%			0.6	%
Finance and insurance			6.8	%			5.7	%
Service, body and parts and other			5.1	%			5.3	%
			100.0	%			100.0	%
Gross profit mix
New vehicle retail			14.9	%			36.6	%
Pre-owned vehicle retail			24.8	%			27.0	%
Vehicle wholesale			(5.9	)%			—	%
Finance and insurance			46.7	%			25.3	%
Service, body and parts and other			19.7	%			13.1	%
LIFO			(0.3	)%			(2.1	)%
			100.0	%			100.0	%

 

 

Other Metrics

 

		Adjusted								As Reported
		Three Months Ended March 31,								Three Months Ended March 31,
		2024				2023				2024				2023
SG&A as a % of revenue			17.8	%			17.6	%			18.1	%			18.1	%
SG&A as % of gross profit, excluding LIFO			127.6	%			79.7	%			129.3	%			82.1	%
(Loss) income from operations as a % of revenue			(5.8	)%			3.0	%			(6.1	)%			2.0	%
(Loss) income from operations as a % of gross profit, excluding LIFO			(41.8	)%			13.5	%			(43.9	)%			9.1	%
(Loss) income before income taxes as % of revenue			(10.3	)%			0.5	%			(10.6	)%			NM
Net (loss) income as a % of revenue			(7.9	)%			0.4	%			(10.6	)%			NM

 

*NM - not meaningful

 

Other Highlights

 

		March 31, 2024				December 31, 2023
Store Count
Dealerships			25				24
Days Supply*
New vehicle inventory			195				380
Pre-owned vehicle inventory			64				132

 

*Days supply calculated based on current inventory levels and a 90-day historical average cost of sales level.

 

Financial Covenants

 

		Requirement				March 31, 2024
Current ratio (excluding LIFO reserve as of March 31, 2024)			1.05				1.07
Minimum liquidity			30,000,000				39,350,000

 

 

Same-Store Results Summary

 

		Three Months Ended March 31,								Variance
($ in thousands except per vehicle data)		2024				2023				%
Revenues
New vehicle retail		$	130,744			$	167,966				(22.2	)%
Pre-owned vehicle retail			66,715				81,961				(18.6	)%
Vehicle wholesale			5,046				1,708				NM
Finance and insurance			15,221				16,129				(5.6	)%
Service, body and parts and other			11,866				14,950				(20.6	)%
Total revenues			229,592				282,714				(18.8	)%
Gross profit
New vehicle retail			4,816				22,336				(78.4	)%
Pre-owned vehicle retail			7,729				16,672				(53.6	)%
Vehicle wholesale			(1,526	)			(13	)			NM
Finance and insurance			14,615				15,466				(5.5	)%
Service, body and parts and other			6,511				8,032				(18.9	)%
LIFO			(126	)			(1,311	)			NM
Total gross profit			32,019				61,182				(47.7	)%
Gross profit margins
New vehicle retail			3.7	%			13.3	%			(960	)bps
Pre-owned vehicle retail			11.6	%			20.3	%			(870	)bps
Vehicle wholesale			(30.2	)%			(0.8	)%			NM	bps
Finance and insurance			96.0	%			95.9	%			10	bps
Service, body and parts and other			54.9	%			53.7	%			120	bps
Total gross profit margin			13.9	%			21.6	%			(770	)bps
Total gross profit margin (excluding LIFO)			14.0	%			22.1	%			NM	bps
Retail units sold
New vehicle retail			1,636				1,841				(11.1	)%
Pre-owned vehicle retail			1,190				1,248				(4.6	)%
Total retail units sold			2,826				3,089				(8.5	)%
Average selling price per retail unit
New vehicle retail		$	79,917			$	91,236				(12.4	)%
Pre-owned vehicle retail			56,063				65,674				(14.6	)%
Average gross profit per retail unit (excluding LIFO)
New vehicle retail		$	2,944			$	12,132				(75.7	)%
Pre-owned vehicle retail			6,495				13,359				(51.4	)%
Finance and insurance			5,172				5,007				3.3	%

 

 

Condensed Consolidated Balance Sheets

 

(In thousands)		March 31, 2024				December 31, 2023
Current assets
Cash			39,350				58,085
Receivables, net of allowance for doubtful accounts			27,244				22,694
Inventories			346,645				456,087
Income tax receivable			9,031				7,416
Prepaid expenses and other			1,421				2,614
Total current assets			423,691				546,896
Long-term assets
Property and equipment, net			271,273				265,726
Operating lease assets			24,949				26,377
Intangible assets, net			78,276				80,546
Other assets			3,082				2,750
Deferred income tax asset			20,476				15,444
Total assets		$	821,747			$	937,739
Current liabilities
Floor plan notes payable			357,832				446,783
Revolving line of credit, current portion			10,000				—
Other current liabilities			50,145				53,194
Total current liabilities			417,977				499,977
Long-term liabilities
Financing liability, non-current portion, net			90,722				91,401
Revolving line of credit, non-current portion			39,500				49,500
Long-term debt, non-current portion, net			27,860				28,075
Related party debt, non-current portion, net			32,917				33,354
Other long-term liabilities			21,052				22,242
Total liabilities			630,028				724,549
Series A Convertible Preferred Stock			58,177				56,193
Stockholders’ Equity			133,542				156,997
Total liabilities and stockholders’ equity		$	821,747			$	937,739

 

 

Condensed Consolidated Statements of Cash Flows

 

		Three Months Ended March 31,
(In thousands)		2024				2023
Operating Activities
Net loss		$	(21,980	)		$	(276	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation			509				797
Bad debt expense			58				7
Depreciation and amortization of property and equipment			3,189				2,570
Amortization of intangible assets			2,271				1,833
Amortization of debt discount			74				91
Non-cash operating lease (benefit) expense			(30	)			22
Loss on sale of property and equipment			29				—
Deferred income taxes			(5,032	)			—
Change in fair value of warrant liabilities			—				(856	)
Impairment charges			—				538
Changes in operating assets and liabilities:
Receivables			(4,608	)			(3,359	)
Inventories			109,442				(33,650	)
Prepaid expenses and other			1,193				(2,766	)
Income tax receivable/payable			(1,612	)			(146	)
Other assets			(333	)			(603	)
Accounts payable, accrued expenses and other current liabilities			(2,930	)			6,966
Total adjustments			102,220				(28,556	)
Net cash provided by (used in) operating activities		$	80,240			$	(28,832	)

 

		Three Months Ended March 31,
(In thousands)		2024				2023
Net cash provided by (used in) operating activities, as reported		$	80,240			$	(28,832	)
Net repayments on floor plan notes payable			(89,016	)			(6,495	)
Minus borrowings on floor plan notes payable associated with acquired new inventory			—				(4,271	)
Plus net increase to floor plan offset account		$	—				40,000
Net cash (used in) provided by operating activities, as adjusted		$	(8,776	)		$	402

 

 

Reconciliation of Non-GAAP Measures

 

		Three Months Ended March 31, 2024
($ in thousands, except per share amounts)		As reported				LIFO				Transaction costs				Severance and transition costs				Adjusted
Costs applicable to revenue		$	232,820			$	(126	)		$	—			$	—			$	232,694
Selling, general and administrative expenses			48,886				—				(557	)			(92	)			48,237
(Loss) income from operations			(16,581	)			126				557				92				(15,806	)
(Loss) income before income taxes		$	(28,780	)		$	126			$	557			$	92			$	(28,005	)
Income tax benefit (expense)			6,800				(31	)			(138	)			(23	)			6,608
Net (loss) income		$	(21,980	)		$	95			$	419			$	69			$	(21,397	)
Dividends on Series A Convertible Preferred Stock			(1,984	)			—				—				—				(1,984	)
Net loss and comprehensive loss attributable to common stock and participating securities		$	(23,964	)		$	95			$	419			$	69			$	(23,381	)
Diluted loss per share		$	(1.67	)														$	(1.63	)
Shares used for diluted calculation			14,368,677																14,368,677

 

		Three Months Ended March 31, 2023
($ in thousands, except per share amounts)		As reported				Gain on change in fair value of warrant liabilities				LIFO				Acquisition expense				Severance and transition costs				Impairment charge				Adjusted
Costs applicable to revenue		$	231,765			$	—			$	(1,311	)		$	—			$	—			$	—			$	230,454
Selling, general and administrative expenses			53,532				—				—				(262	)			(653	)			(629	)			51,988
Income from operations			5,956				—				1,311				262				653				629				8,811
Gain on change in fair value of warrant liabilities			856				(856	)			—				—				—				—				—
(Loss) income before income taxes		$	(419	)		$	(856	)		$	1,311			$	262			$	653			$	629			$	1,580
Income tax benefit (expense)			143				—				(248	)			(50	)			(124	)			(119	)			(398	)
Net (loss) income		$	(276	)		$	(856	)		$	1,063			$	212			$	529			$	510			$	1,182
Diluted (loss) per share		$	(0.17	)																						$	—
Shares used for diluted calculation			11,988,899																								11,988,899

 

 

v3.24.1.1.u2

Cover	May 15, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	May 15, 2024
Entity File Number	001-38424
Entity Registrant Name	LAZYDAYS HOLDINGS, INC.
Entity Central Index Key	0001721741
Entity Tax Identification Number	82-4183498
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	4042 Park Oaks Blvd.
Entity Address, Address Line Two	Suite 350
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33610
City Area Code	(813)
Local Phone Number	246-4999
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock
Trading Symbol	LAZY
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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