Loading...
•
Jun 30, 2024
Solo Brands Q2 2024 Earnings Report
Reported mixed results with retail sales growth offset by a slight decline in direct-to-consumer revenue. Full year guidance was lowered due to softer demand trends.
Key Takeaways
Solo Brands reported a slight increase in net sales for the second quarter of 2024, but experienced a net loss. While retail sales increased, direct-to-consumer revenue declined slightly. The company lowered its full year 2024 guidance due to challenging near-term environment and softer demand trends.
Net sales increased by 0.5% to $131.6 million compared to the second quarter of 2023.
Net loss was $4.0 million, a decrease of $15.6 million or 135.1% compared to the same period last year.
Direct-to-consumer revenues decreased slightly to $98.8 million, a 0.9% decrease year-over-year.
Retail revenues increased by 4.8% to $32.8 million compared to the second quarter of 2023.
Solo Brands
Solo Brands
Solo Brands Revenue by Segment
Revenue by Segment
Solo Stove Revenue
CapyFin.comChubbies Revenue
CapyFin.com Forward Guidance
Solo Brands updated its full year 2024 outlook, expecting total revenue between $470 million and $490 million, and adjusted EBITDA margin between 9% and 10%.
Positive Outlook
- Laser focused on stabilizing business
- Investing in capabilities and infrastructure
- Aiming to return to growth in 2025
Challenges Ahead
- Challenging 3rd quarter performance
- Uncertain macroeconomic environment
- Lowering annual guidance for 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income