Filing Flows › Latham Group (SWIM) › Q2 2026 › vs Q2 2025
Latham Group (SWIM) Q2 2026 vs Q2 2025 (year over year)
Latham Group's revenue rose $24.8M (+14%) from $173M in Q2 2025 to $197M in Q2 2026. The biggest changes: In-ground Swimming Pools +$17.7M (+23%); Covers +$3.7M (+10%); Liners +$3.4M (+6%). Gross margin 35.5% against 37.1% (-1.6 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 35.5% | 37.1% | -1.6 pts |
| Operating margin | 12.7% | 14.3% | -1.6 pts |
| Net margin | 6.5% | 9.3% | -2.8 pts |
| Free cash flow margin | 24.3% | 16.8% | +7.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| In-ground Swimming Pools | $96.3M | $78.6M | $17.7M | +23% |
| Liners | $60.2M | $56.8M | $3.4M | +6% |
| Covers | $41.0M | $37.2M | $3.7M | +10% |
| Revenue | $197M | $173M | $24.8M | +14% |
| Gross profit | $70.1M | $64.0M | $6.1M | +10% |
| Cost of revenue | $127M | $109M | $18.7M | +17% |
| Operating profit | $25.1M | $24.7M | $368K | +1% |
| Operating expenses | $45.0M | $39.2M | $5.7M | +15% |
| Pre-tax earnings | $18.9M | $21.1M | −$2.2M | -11% |
| Other expense, net | $6.2M | $3.6M | $2.6M | +72% |
| SG&A | $37.6M | $31.9M | $5.7M | +18% |
| Other operating costs | $7.4M | $7.3M | $67K | +0.9% |
| Net earnings | $12.8M | $16.0M | −$3.2M | -20% |
| Income tax | $6.1M | $5.1M | $983K | +19% |
| Depreciation & amortization | $13.7M | $12.7M | $975K | +8% |
| Share-based compensation | $1.6M | $1.4M | $228K | +17% |
| Working capital & other | $25.5M | $5.9M | $19.5M | +330% |
| Operating cash flow | $53.5M | $36.0M | $17.5M | +49% |
| Free cash flow (OCF − capex) | $48.0M | $29.1M | $18.9M | +65% |
| Capital expenditures | $5.6M | $6.9M | −$1.3M | -19% |
Questions
How much did Latham Group's revenue grow year over year in Q2 2026?
Latham Group's revenue rose $24.8M (+14%) from $173M in Q2 2025 to $197M in Q2 2026.
What drove Latham Group's revenue change in Q2 2026?
In-ground Swimming Pools +$17.7M (+23%); Covers +$3.7M (+10%); Liners +$3.4M (+6%).