Solo Brands, Inc. - DTC STOCK NEWS

Solo Brands, Inc. (NYSE: DTC) will participate in the Wolfe Research Virtual Consumer Conference on December 6, 2022. CEO John Merris and CFO Somer Webb will hold a fireside chat at 3:10 pm ET and conduct investor meetings throughout the event. Solo Brands is a direct-to-consumer platform offering innovative lifestyle products, including brands like Solo Stove, Chubbies, Oru Kayak, and ISLE, aimed at helping consumers create lasting memories.

Solo Brands (NYSE: DTC) reported significant growth with net sales of $102.2 million in Q3 2022, a 47.1% increase year-over-year. Despite a net loss of $4.0 million, the adjusted net income dropped 52.1% to $7.6 million. The company revised its full year revenue guidance to 15%-20% growth, down from mid-20%. SG&A expenses surged 126.4% to $174.3 million due to acquisitions and strategic investments. Cash and cash equivalents decreased to $17.2 million, with an inventory rise to $165.8 million, preparing for the holiday season.

Solo Stove has launched Surround, a heat-resistant fire pit enclosure designed to enhance safety and aesthetic appeal in backyards. Announced on November 3, 2022, this product acts as a 360° Protective Barrier to prevent accidental contact with hot surfaces, catering to families with children and pets. Made from powder-coated perforated steel, Surround improves airflow and serves as a functional table. Available in two sizes, it is compatible with various Solo Stove fire pits and priced at $349 for small and $399 for large models.

Solo Brands, Inc. (NYSE: DTC) has announced the upcoming release of its third-quarter fiscal 2022 financial results on November 10, 2022, prior to market opening. A conference call will be held at 9:00 a.m. ET to discuss these results, with participation details provided for investors and analysts. The company operates a direct-to-consumer platform featuring brands like Solo Stove and Chubbies. A webcast of the call will be available on the investor relations page of the Solo Brands website.

Solo Brands, Inc. (DTC) reported strong financial results for Q2 2022, highlighting net sales of $136.0 million, a 53.3% increase year-over-year. Despite a net loss of $19.9 million, down $39.6 million, adjusted EBITDA was $23.7 million. DTC revenues rose 63.2% to $116.1 million. Gross profit increased 45.2% to $86.7 million, but gross margin decreased to 63.7%. SG&A expenses surged 137.2% to $114.8 million, influenced by acquisitions. Full-year 2022 guidance projects revenue growth in the mid-20% range.

Solo Brands, Inc. (NYSE: DTC) based in Grapevine, Texas, is set to report its second quarter fiscal 2022 financial results on August 11, 2022, prior to the market opening. A conference call to discuss these results will occur at 8:30 a.m. ET, with participation encouraged via a specific dial-in number and conference ID. The call will be accessible through a live webcast. A recording will be available shortly after the call until August 18, 2022. Solo Brands operates diverse lifestyle brands including Solo Stove, Chubbies, Oru Kayak, and ISLE.

Solo Brands, Inc. (NYSE: DTC) will participate in the Credit Suisse HALO Investment Summit in New York, NY, on May 24-25, 2022. Management is set to present on May 25 at 9:50 AM Eastern Time. The presentation will be available via live webcast on the Company’s Investor Relations website, with an archive accessible afterward. Headquartered in Grapevine, TX, Solo Brands operates as a direct-to-consumer platform featuring brands like Solo Stove, Chubbies, Oru Kayak, and ISLE, focusing on innovative products for creating lasting memories.

Solo Brands, Inc. (NYSE: DTC) has appointed Somer Webb as Chief Financial Officer (CFO) effective May 16, 2022, succeeding Sam Simmons, who will assist in the transition. Somer brings over 15 years of financial experience, previously serving as CFO at Kent Outdoors and Worldwide Express. The company also announced the addition of two new Board members, Mike Dennison and Dave Powers, who bring valuable expertise in innovation and retail. CEO John Merris expressed confidence in the new appointments as important steps for the company's growth.

Solo Brands, Inc. (DTC) reported financial results for Q1 2022, with net sales increasing 19% to $82.2 million. However, the company recorded a net loss of $3.2 million and adjusted net income fell 58.7% to $11.1 million. Direct-to-consumer revenues dipped by 3.3%, while wholesale revenues surged by 223.6%. Although gross profit rose by 5.1%, gross margin decreased to 59.4%, affected by rising logistics costs. The company maintains its revenue guidance for 2022, expecting $540 million to $570 million in total revenue.