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Jun 30, 2023
Solo Brands Q2 2023 Earnings Report
Reported strong results driven by focus on profitability and wholesale channel expansion.
Key Takeaways
Solo Brands reported a decrease in net sales by 3.7% to $130.9 million, but a significant increase in net income to $11.5 million. The company's focus on profitability led to an expansion of the adjusted EBITDA margin to 19.1%. They are raising their adjusted EBITDA margin target from 16.5% to 17.5% to 17% to 18% for the full year.
Net sales decreased by 3.7% to $130.9 million.
Net income increased by 157.9% to $11.5 million.
Adjusted EBITDA increased by 5.6% to $25.0 million.
Wholesale revenues increased 57.0% to $31.3 million.
Forward Guidance
The company reiterates a revenue range of $520 to $540 million with the most likely outcome at the midpoint of the range at $530 million. While reiterating revenue guidance, they are raising their adjusted EBITDA margin target from 16.5% to 17.5% to 17% to 18% for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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