Filing Flows › Latham Group (SWIM) › Q2 2026 › vs Q1 2026
Latham Group (SWIM) Q2 2026 vs Q1 2026 (quarter over quarter)
Latham Group's revenue rose $80.2M (+68%) from $117M in Q1 2026 to $197M in Q2 2026. The biggest changes: In-ground Swimming Pools +$36.6M (+61%); Liners +$36.1M (+150%); Covers +$7.5M (+22%). Gross margin 35.5% against 31.7% (+3.8 pts).
Latham Group, Q2 2026: revenue $197M (+14% year over year), operating margin 12.7%, net earnings $12.8M, operating cash flow $53.5M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 35.5% | 31.7% | +3.8 pts |
| Operating margin | 12.7% | -5.6% | +18.3 pts |
| Net margin | 6.5% | -7.3% | +13.7 pts |
| Free cash flow margin | 24.3% | -49.6% | +73.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| In-ground Swimming Pools | $96.3M | $59.7M | $36.6M | +61% |
| Liners | $60.2M | $24.1M | $36.1M | +150% |
| Covers | $41.0M | $33.5M | $7.5M | +22% |
| Revenue | $197M | $117M | $80.2M | +68% |
| Gross profit | $70.1M | $37.2M | $32.9M | +89% |
| Cost of revenue | $127M | $80.2M | $47.2M | +59% |
| Operating profit | $25.1M | −$6.6M | $31.7M | — |
| Operating expenses | $45.0M | $43.8M | $1.2M | +3% |
| Pre-tax earnings | $18.9M | −$11.3M | $30.2M | — |
| Other expense, net | $6.2M | $4.7M | $1.5M | +31% |
| SG&A | $37.6M | $36.6M | $1.0M | +3% |
| Other operating costs | $7.4M | $7.2M | $197K | +3% |
| Net earnings | $12.8M | −$8.5M | $21.3M | — |
| Income tax | $6.1M | −$2.8M | $8.9M | — |
| Depreciation & amortization | $13.7M | $13.1M | $605K | +5% |
| Share-based compensation | $1.6M | $1.1M | $505K | +46% |
| Working capital & other | $25.5M | −$53.4M | $78.8M | — |
| Operating cash flow | $53.5M | −$47.7M | $101M | — |
| Free cash flow (OCF − capex) | $48.0M | −$58.2M | $106M | — |
| Capital expenditures | $5.6M | $10.5M | −$4.9M | -47% |
Questions
How much did Latham Group's revenue grow quarter over quarter in Q2 2026?
Latham Group's revenue rose $80.2M (+68%) from $117M in Q1 2026 to $197M in Q2 2026.
What drove Latham Group's revenue change in Q2 2026?
In-ground Swimming Pools +$36.6M (+61%); Liners +$36.1M (+150%); Covers +$7.5M (+22%).