Solo Brands Q4 2022 Earnings Report
Key Takeaways
Solo Brands reported strong Q4 2022 results, exceeding expectations with an 11.8% increase in net sales and a 57.2% increase in net income. The company's direct-to-consumer, wholesale, and international businesses all grew. While acknowledging ongoing macroeconomic uncertainty for 2023, Solo Brands expressed confidence in its brands and strategies.
Net sales increased by 11.8% to $197.2 million compared to Q4 2021.
Net income increased by 57.2% to $19.5 million compared to Q4 2021.
Adjusted EPS was $0.33 per diluted share for Q4 2022.
Wholesale revenues increased 196.4% to $36.5 million compared to Q4 2021.
Solo Brands
Solo Brands
Forward Guidance
Total revenue is expected to be between $520 million to $540 million for 2023. Adjusted EBITDA margin is expected to be between 16.5% to 17.5% for 2023.