Latham Group, Inc. (NASDAQ: SWIM)

Latham Group, Inc. is the largest designer, manufacturer, and marketer of in ground residential swimming pools in North America, Australia, and New Zealand, offering a broad portfolio that includes pools, covers, and liners. The company has operated for over 70 years, building a heritage of innovation in the pool industry. Its mission centers on designing and manufacturing high quality pool products with the homeowner in mind while serving as a value added partner to its dealer network. Latham Group, Inc. maintains approximately 1,850 employees on average across roughly 30 locations in the United States, Canada, Australia, and New Zealand.

The company generates revenue primarily through the sale of its in ground swimming pools, pool covers, and pool liners to a network of independent dealers and distributors, who then sell to residential homeowners. Latham Group, Inc. employs a direct to homeowner digital and social marketing strategy that creates demand and supplies high quality purchase ready leads to its dealer partners. The company also derives revenue from the sale of aftermarket products such as replacement liners and covers, which benefit from recurring replacement cycles. Latham Group, Inc. provides delivery service for its dealers using its own fleet of trucks and third party common carriers to transport finished products from factories to customer sites.

The company operates through the following segments:

• In ground swimming pools, pool covers, and pool liners: This segment designs, manufactures, and markets a full range of in ground swimming pools including fiberglass and vinyl models, pool covers such as automatic safety and all season covers, and pool liners for vinyl pools. The segment operates manufacturing facilities in the United States, Canada, Australia, and New Zealand, utilizing specialized equipment and a skilled workforce to produce products that meet strict quality standards. The segment supports its dealer network with business development tools, co branded marketing programs, and in house training through initiatives such as Latham University.

Latham Group, Inc. holds the leading position in North America in every product category in which it competes, benefiting from a strong brand, extensive product breadth, nationwide manufacturing footprint, and a large dealer network that together create a competitive advantage over regional and local manufacturers. The company’s direct to homeowner marketing approach differentiates it from traditional business to business competitors by generating consumer demand and feeding qualified leads to dealers. Latham Group, Inc. invests continuously in research and development to introduce new pool designs, features, and technologies that enhance product appeal and performance. The firm’s long standing relationships with dealers, averaging over 15 years, further strengthen its market position and support collaborative growth initiatives.

The company serves a diverse customer base consisting of independent pool dealers and distributors across North America, Australia, and New Zealand, ultimately providing products to residential homeowners seeking in ground swimming pools, covers, and liners. Through its Latham Grand dealer program, Latham Group, Inc. offers exclusivity, early access to leads, co branded marketing, and specialized training to over 375 of its largest dealers in North America. The firm’s largest distributor, which operates more than 300 locations, accounted for 22.6% of net sales in 2025, 21.0% in 2024, and 20.3% in 2023. Additionally, the top ten dealer and distributor relationships together represented 49.0% of net sales in 2025, 42.8% in 2024, and 40.4% in 2023.