Solo Brands Announces Fourth Quarter and Fiscal Year 2023 Results Provides Full Year 2024 Guidance
Solo Brands, Inc. (DTC)
Company Research
Source: Business Wire
GRAPEVINE, Texas--(BUSINESS WIRE)--Solo Brands, Inc. (NYSE: DTC) (“Solo Brands” or “the Company”) today announced its financial results for the three and twelve month periods ended December 31, 2023.“I am thrilled to be leading Solo Brands. In my first two months here I have been incredibly impressed with the strength of our core brands, record operating cash flow and the tremendous growth potential ahead,” said Chris Metz, CEO of Solo Brands. “I also recognize that there is work to be done to build the infrastructure, in terms of process, systems and talent, to support the brands and position the company to deliver consistent growth. Our focus in 2024 is to leverage our brands’ strengths while also making strategic investments for the long-term.”Fourth Quarter 2023 Highlights Compared to Fourth Quarter 2022Net sales of $165.3 million, down $31.9 million or 16.2%Net loss of $210.9 million, down $230.4 millionNet loss per Class A common stock - basic and diluted of $2.14, down $2.3
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