Solo Brands Inc Financials
This page shows Solo Brands Inc (SBDS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Solo Brands Inc has an operating margin of -35.9%, meaning the company retains $-36 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -38.4% the prior year.
Solo Brands Inc's revenue declined 30.4% year-over-year, from $454.6M to $316.6M. This contraction results in a growth score of 0/100.
Solo Brands Inc has elevated debt relative to equity (D/E of 5.22), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Solo Brands Inc's current ratio of 2.96 indicates adequate short-term liquidity, earning a score of 57/100. The company can meet its near-term obligations, though with limited headroom.
While Solo Brands Inc generated -$46.6M in operating cash flow, capex of $4.6M consumed most of it, leaving -$51.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Solo Brands Inc generates a -316.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -134.8% the prior year.
Solo Brands Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Solo Brands Inc generates $0.32 in operating cash flow (-$46.6M OCF vs -$145.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Solo Brands Inc earns $-7.3 in operating income for every $1 of interest expense (-$113.5M vs $15.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Solo Brands Inc generated $316.6M in revenue in fiscal year 2025. This represents a decrease of 30.4% from the prior year.
Solo Brands Inc's EBITDA was -$87.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.0% from the prior year.
Solo Brands Inc reported -$145.4M in net income in fiscal year 2025. This represents an increase of 19.3% from the prior year.
Solo Brands Inc earned $-64.09 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 3203.6% from the prior year.
Cash & Balance Sheet
Solo Brands Inc generated -$51.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1181.7% from the prior year.
Solo Brands Inc held $20.0M in cash against $240.3M in long-term debt as of fiscal year 2025.
Solo Brands Inc had 3M shares outstanding in fiscal year 2025.
Margins & Returns
Solo Brands Inc's gross margin was 59.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.1 percentage points from the prior year.
Solo Brands Inc's operating margin was -35.9% in fiscal year 2025, reflecting core business profitability. This is up 2.6 percentage points from the prior year.
Solo Brands Inc's net profit margin was -45.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.3 percentage points from the prior year.
Solo Brands Inc's ROE was -316.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 181.4 percentage points from the prior year.
Capital Allocation
Solo Brands Inc invested $800K in research and development in fiscal year 2025. This represents a decrease of 52.9% from the prior year.
Solo Brands Inc invested $4.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 68.3% from the prior year.
SBDS Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $53.0M-42.5% | $92.3M+19.4% | $77.3M-46.2% | $143.5M+52.5% | $94.1M-28.4% | $131.6M+54.2% | $85.3M-48.4% | $165.3M |
| Cost of Revenue | $21.2M-40.6% | $35.7M+2.9% | $34.6M-37.9% | $55.8M+1.7% | $54.8M+12.1% | $48.9M+40.6% | $34.8M-49.5% | $68.9M |
| Gross Profit | $31.8M-43.7% | $56.6M+32.8% | $42.6M-51.5% | $87.8M+123.2% | $39.3M-52.4% | $82.6M+63.5% | $50.5M-47.6% | $96.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $39.5M-17.2% | $47.7M+22.3% | $39.0M-52.4% | $81.8M+33.9% | $61.1M-13.7% | $70.8M+46.3% | $48.4M-42.6% | $84.3M |
| Operating Income | -$16.2M-64.5% | -$9.8M+7.6% | -$10.6M+80.7% | -$55.2M+52.1% | -$115.3M-5246.7% | $2.2M+135.3% | -$6.4M+97.4% | -$240.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$552K-132.9% | $1.7M-43.1% | $2.9M+288.7% | -$1.6M+77.4% | -$6.9M-356.0% | $2.7M+184.3% | -$3.2M+90.3% | -$33.0M |
| Net Income | -$22.9M-10.4% | -$20.8M-11.8% | -$18.6M+68.1% | -$58.2M+47.8% | -$111.5M-2660.8% | -$4.0M+37.7% | -$6.5M+94.7% | -$122.8M |
| EPS (Diluted) | $-9.22-3.2% | $-8.93-4152.4% | $-0.21 | N/A | $-47.72-2129.9% | $-2.14-3466.7% | $-0.06 | N/A |
SBDS Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $431.0M-6.2% | $459.7M-33.6% | $692.4M+39.9% | $495.1M-10.5% | $553.2M-13.8% | $642.0M-1.0% | $648.3M-1.7% | $659.3M |
| Current Assets | $128.3M-13.7% | $148.6M-60.1% | $372.6M+116.4% | $172.2M-0.2% | $172.5M-8.1% | $187.6M-2.1% | $191.6M-2.3% | $196.1M |
| Cash & Equivalents | $16.3M-9.8% | $18.1M-91.2% | $206.4M+1622.8% | $12.0M-4.1% | $12.5M-37.8% | $20.1M+30.4% | $15.4M-22.3% | $19.8M |
| Inventory | $84.8M+0.8% | $84.1M-18.4% | $103.1M-5.1% | $108.6M+1.7% | $106.8M+6.0% | $100.8M-10.3% | $112.3M+0.6% | $111.6M |
| Accounts Receivable | $15.9M-50.7% | $32.2M-39.1% | $52.9M+34.0% | $39.4M+3.1% | $38.3M+4.1% | $36.8M-5.8% | $39.0M-8.6% | $42.7M |
| Goodwill | $73.1M0.0% | $73.1M0.0% | $73.1M0.0% | $73.1M-41.4% | $124.8M-26.4% | $169.6M0.0% | $169.6M0.0% | $169.6M |
| Total Liabilities | $331.9M-4.2% | $346.5M-39.3% | $570.7M+57.9% | $361.3M-6.2% | $385.2M-4.9% | $405.3M-1.1% | $409.8M-2.0% | $418.1M |
| Current Liabilities | $40.1M-2.5% | $41.1M-91.6% | $487.0M+300.1% | $121.7M+11.0% | $109.7M+45.6% | $75.3M+10.0% | $68.5M-22.7% | $88.6M |
| Long-Term Debt | $234.0M-1.6% | $237.8M | $0-100.0% | $142.1M-6.0% | $151.1M-1.5% | $153.4M-5.7% | $162.7M+13.8% | $143.0M |
| Total Equity | $99.1M-12.4% | $113.2M-7.0% | $121.7M-9.0% | $133.7M-20.4% | $168.0M-29.0% | $236.7M-0.7% | $238.5M-1.2% | $241.3M |
| Retained Earnings | -$269.3M-5.9% | -$254.3M-5.5% | -$241.0M-5.3% | -$228.8M-19.3% | -$191.8M-57.3% | -$122.0M-2.6% | -$118.9M-2.9% | -$115.5M |
SBDS Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $11.2M+2.8% | $10.9M+114.5% | -$75.2M-678.9% | $13.0M+3335.7% | $378K-97.6% | $15.7M+184.6% | -$18.5M-179.7% | $23.3M |
| Capital Expenditures | N/A | N/A | $3.2M+6.9% | $3.0M-52.3% | $6.3M+121.5% | $2.8M+18.9% | $2.4M+11.0% | $2.1M |
| Free Cash Flow | N/A | N/A | -$78.4M-885.0% | $10.0M+269.0% | -$5.9M-146.0% | $12.8M+161.4% | -$20.9M-199.1% | $21.1M |
| Investing Cash Flow | -$3.2M+1.0% | -$3.2M0.0% | -$3.2M-6.9% | -$3.0M+52.3% | -$6.3M-121.5% | -$2.8M-18.9% | -$2.4M-12.1% | -$2.1M |
| Financing Cash Flow | -$9.9M+95.0% | -$196.2M-171.9% | $272.8M+2705.9% | -$10.5M-632.6% | -$1.4M+82.4% | -$8.1M-149.6% | $16.3M+189.4% | -$18.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | $0 | $0 | N/A | N/A | $0 |
SBDS Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.0%-1.3pp | 61.4%+6.2pp | 55.1%-6.0pp | 61.1%+19.4pp | 41.8%-21.0pp | 62.8%+3.6pp | 59.2%+0.9pp | 58.3% |
| Operating Margin | -30.5%-19.8pp | -10.7%+3.1pp | -13.8%+24.7pp | -38.5%+84.0pp | -122.5%-124.2pp | 1.7%+9.1pp | -7.4%+138.2pp | -145.6% |
| Net Margin | -43.2%-20.7pp | -22.5%+1.5pp | -24.1%+16.5pp | -40.6%+77.8pp | -118.4%-115.3pp | -3.1%+4.5pp | -7.6%+66.7pp | -74.3% |
| Return on Equity | -23.1%-4.8pp | -18.4%-3.1pp | -15.3%+28.3pp | -43.5%+22.8pp | -66.3%-64.6pp | -1.7%+1.0pp | -2.7%+48.2pp | -50.9% |
| Return on Assets | -5.3%-0.8pp | -4.5%-1.8pp | -2.7%+9.1pp | -11.8%+8.4pp | -20.2%-19.5pp | -0.6%+0.4pp | -1.0%+17.6pp | -18.6% |
| Current Ratio | 3.20-0.4 | 3.62+2.9 | 0.77-0.6 | 1.42-0.2 | 1.57-0.9 | 2.49-0.3 | 2.80+0.6 | 2.21 |
| Debt-to-Equity | 2.36+0.3 | 2.10+2.1 | 0.00-1.1 | 1.06+0.2 | 0.90+0.3 | 0.65-0.0 | 0.68+0.1 | 0.59 |
| FCF Margin | N/A | N/A | -101.5%-108.4pp | 7.0%+13.2pp | -6.3%-16.0pp | 9.8%+34.3pp | -24.5%-37.3pp | 12.8% |
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Frequently Asked Questions
What is Solo Brands Inc's annual revenue?
Solo Brands Inc (SBDS) reported $316.6M in total revenue for fiscal year 2025. This represents a -30.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Solo Brands Inc's revenue growing?
Solo Brands Inc (SBDS) revenue declined by 30.4% year-over-year, from $454.6M to $316.6M in fiscal year 2025.
Is Solo Brands Inc profitable?
No, Solo Brands Inc (SBDS) reported a net income of -$145.4M in fiscal year 2025, with a net profit margin of -45.9%.
What is Solo Brands Inc's EBITDA?
Solo Brands Inc (SBDS) had EBITDA of -$87.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Solo Brands Inc have?
As of fiscal year 2025, Solo Brands Inc (SBDS) had $20.0M in cash and equivalents against $240.3M in long-term debt.
What is Solo Brands Inc's gross margin?
Solo Brands Inc (SBDS) had a gross margin of 59.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Solo Brands Inc's operating margin?
Solo Brands Inc (SBDS) had an operating margin of -35.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Solo Brands Inc's net profit margin?
Solo Brands Inc (SBDS) had a net profit margin of -45.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Solo Brands Inc's return on equity (ROE)?
Solo Brands Inc (SBDS) has a return on equity of -316.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Solo Brands Inc's free cash flow?
Solo Brands Inc (SBDS) generated -$51.2M in free cash flow during fiscal year 2025. This represents a -1181.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Solo Brands Inc's operating cash flow?
Solo Brands Inc (SBDS) generated -$46.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Solo Brands Inc's total assets?
Solo Brands Inc (SBDS) had $360.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Solo Brands Inc's capital expenditures?
Solo Brands Inc (SBDS) invested $4.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Solo Brands Inc spend on research and development?
Solo Brands Inc (SBDS) invested $800K in research and development during fiscal year 2025.
What is Solo Brands Inc's current ratio?
Solo Brands Inc (SBDS) had a current ratio of 2.96 as of fiscal year 2025, which is generally considered healthy.
What is Solo Brands Inc's debt-to-equity ratio?
Solo Brands Inc (SBDS) had a debt-to-equity ratio of 5.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Solo Brands Inc's return on assets (ROA)?
Solo Brands Inc (SBDS) had a return on assets of -40.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Solo Brands Inc's cash runway?
Based on fiscal year 2025 data, Solo Brands Inc (SBDS) had $20.0M in cash against an annual operating cash burn of $46.6M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Solo Brands Inc's Piotroski F-Score?
Solo Brands Inc (SBDS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Solo Brands Inc's earnings high quality?
Solo Brands Inc (SBDS) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Solo Brands Inc cover its interest payments?
Solo Brands Inc (SBDS) has an interest coverage ratio of -7.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Solo Brands Inc?
Solo Brands Inc (SBDS) scores 9 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.