Solo Brands Announces First Quarter Fiscal 2022 Results, Reaffirms 2022 Guidance
Solo Brands, Inc. (DTC)
Company Research
Source: Business Wire
GRAPEVINE, Texas--(BUSINESS WIRE)--Solo Brands, Inc. (NYSE: DTC) (“Solo Brands” or “the Company”), a direct-to-consumer platform for rapidly growing lifestyle brands, today announced its financial results for the three month period ended March 31, 2022.First Quarter 2022 Highlights Compared to First Quarter 20211Net sales of $82.2 million, up $13.1 million or 19.0%Net loss of $3.2 million, down $25.5 millionEPS - basic and diluted of $(0.03) for the first quarter of 2022Adjusted net income2 of $11.1 million, down $15.7 million, or 58.7%Adjusted EBITDA2 of $14.0 million, down $14.6 million, or 51.1%Adjusted EPS2 of $0.19 for the first quarter of 2022“Despite a challenging macro environment and difficult year ago comparisons, we generated a 19% increase in sales during the first quarter, including the effect of acquisitions. We were pleased with the strong momentum in our wholesale channel and are leaning into this demand,” said John Merris, CEO of Solo Brands. “Looking ahead, we a
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