Solo Brands Q1 2024 Earnings Report
Key Takeaways
Solo Brands reported a decrease in net sales to $85.3 million, a net loss of $6.5 million, and an adjusted EBITDA of $4.3 million. Despite a decline in direct-to-consumer revenue, wholesale revenue increased. The company reaffirmed its full-year 2024 revenue guidance of $490 million to $510 million and adjusted EBITDA margin guidance of 10% to 12%.
Net sales decreased by 3.3% to $85.3 million compared to the first quarter of 2023.
Net loss was $6.5 million, a decrease of $7.4 million from the previous year.
Adjusted EBITDA decreased by 72.1% to $4.3 million.
Direct-to-consumer revenues decreased by 6.8%, while wholesale revenues increased by 2.5%.
Solo Brands
Solo Brands
Solo Brands Revenue by Segment
Forward Guidance
Solo Brands reaffirmed its full year 2024 guidance.
Positive Outlook
- Total revenue is expected to be between $490 million to $510 million for 2024.
- Adjusted EBITDA margin is expected to be between 10% to 12% for 2024.
Challenges Ahead
- The Company’s full year 2024 guidance is based on a number of assumptions that are subject to change, many of which are outside the Company’s control.
- If actual results vary from these assumptions, the Company’s expectations may change.
- There can be no assurance that the Company will achieve these results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income