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Mar 31, 2023
Solo Brands Q1 2023 Earnings Report
Reported strong first quarter results and reaffirmed full year 2023 guidance.
Key Takeaways
Solo Brands reported a 7.3% increase in net sales to $88.2 million and a net income of $0.9 million, up 128.8% compared to the first quarter of 2022. The company's wholesale revenues increased by 52.3%, while direct-to-consumer revenues decreased by 9.1%.
Net sales increased by 7.3% to $88.2 million compared to Q1 2022.
Net income increased by 128.8% to $0.9 million compared to Q1 2022.
Wholesale revenues increased by 52.3% to $33.5 million compared to Q1 2022.
Direct-to-consumer revenues decreased by 9.1% to $54.8 million compared to Q1 2022.
Solo Brands
Solo Brands
Forward Guidance
Solo Brands reaffirmed its full year 2023 guidance, expecting total revenue between $520 million to $540 million and adjusted EBITDA margin between 16.5% to 17.5%.