Solo Brands Q1 net loss $6.5M, revenue down 3.3% to $85.3M; reaffirms FY2024 guidance

Solo Brands, Inc.

2024-Q1 EPS reported -$0.06 revenue$85,324,000

Net loss of $6.5M vs $0.9M net income in Q1 2023; diluted EPS $(0.06) vs $0.01.
Adjusted EBITDA $4.3M, down 72.1% YoY; adjusted net income $1.7M, down 83.8%.
Direct-to-consumer revenue fell 6.8% to $51.0M; wholesale grew 2.5% to $34.3M.
Gross margin declined 250 bps to 59.2% on channel mix shift to lower-margin wholesale.
FY2024 guidance reaffirmed: revenue $490M-$510M, adjusted EBITDA margin 10%-12%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Solo Brands, Inc. reported first quarter ended March 31, 2024 results: revenue $85.3 million, net income $6.5 million, EPS $(0.06) per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $85.3 million
Net income: $6.5 million
EPS: $(0.06) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

people and processes in place to position us to generate consistent long-term growth.” Consolidated First Quarter 2024 Highlights Compared to First Quarter 2023 • Net sales of $85.3 million, down $2.9 million or 3.3% • Net loss of $6.5 million, down $7.4 million • Net loss per Class A common stock - basic and diluted of $0.06, down $0.07 • Adjusted net income (1)(2)

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Source: SEC EDGAR

accession 0001870600-24-000043

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