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 4 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 FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Solo Brands Inc has an operating margin of -38.4%, meaning the company retains $-38 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 -46.1% the prior year.
Solo Brands Inc's revenue declined 8.1% year-over-year, from $494.8M to $454.6M. This contraction results in a growth score of 5/100.
Solo Brands Inc carries a low D/E ratio of 1.06, meaning only $1.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.
Solo Brands Inc's current ratio of 1.42 indicates adequate short-term liquidity, earning a score of 37/100. The company can meet its near-term obligations, though with limited headroom.
While Solo Brands Inc generated $10.5M in operating cash flow, capex of $14.5M consumed most of it, leaving -$4.0M 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 passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Solo Brands Inc generates $-0.06 in operating cash flow ($10.5M OCF vs -$180.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Solo Brands Inc generated $454.6M in revenue in fiscal year 2024. This represents a decrease of 8.1% from the prior year.
Solo Brands Inc's EBITDA was -$148.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.0% from the prior year.
Solo Brands Inc generated -$4.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 107.5% from the prior year.
Solo Brands Inc reported -$180.2M in net income in fiscal year 2024. This represents a decrease of 61.8% from the prior year.
Solo Brands Inc earned $-1.94 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 5.4% from the prior year.
Solo Brands Inc held $12.0M in cash against $142.1M in long-term debt as of fiscal year 2024.
Solo Brands Inc's gross margin was 57.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.8 percentage points from the prior year.
Solo Brands Inc's operating margin was -38.4% in fiscal year 2024, reflecting core business profitability. This is up 7.6 percentage points from the prior year.
Solo Brands Inc's net profit margin was -39.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 17.1 percentage points from the prior year.
Solo Brands Inc invested $1.7M in research and development in fiscal year 2024. This represents an increase of 142.9% from the prior year.
Solo Brands Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Solo Brands Inc invested $14.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 59.6% from the prior year.
SBDS Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| 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% | $-0.21-100.4% | $47.98+200.5% | $-47.72-2129.9% | $-2.14-3466.7% | $-0.06+97.1% | $-2.04 |
SBDS Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 $454.6M in total revenue for fiscal year 2024. This represents a -8.1% 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 8.1% year-over-year, from $494.8M to $454.6M in fiscal year 2024.
Is Solo Brands Inc profitable?
No, Solo Brands Inc (SBDS) reported a net income of -$180.2M in fiscal year 2024, with a net profit margin of -39.6%.
What is Solo Brands Inc's earnings per share (EPS)?
Solo Brands Inc (SBDS) reported diluted earnings per share of $-1.94 for fiscal year 2024. This represents a -5.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Solo Brands Inc's EBITDA?
Solo Brands Inc (SBDS) had EBITDA of -$148.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Solo Brands Inc have?
As of fiscal year 2024, Solo Brands Inc (SBDS) had $12.0M in cash and equivalents against $142.1M in long-term debt.
What is Solo Brands Inc's gross margin?
Solo Brands Inc (SBDS) had a gross margin of 57.3% in fiscal year 2024, 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 -38.4% in fiscal year 2024, 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 -39.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Solo Brands Inc's free cash flow?
Solo Brands Inc (SBDS) generated -$4.0M in free cash flow during fiscal year 2024. This represents a -107.5% 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 $10.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Solo Brands Inc's total assets?
Solo Brands Inc (SBDS) had $495.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Solo Brands Inc's capital expenditures?
Solo Brands Inc (SBDS) invested $14.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Solo Brands Inc spend on research and development?
Solo Brands Inc (SBDS) invested $1.7M in research and development during fiscal year 2024.
What is Solo Brands Inc's current ratio?
Solo Brands Inc (SBDS) had a current ratio of 1.42 as of fiscal year 2024, which is considered adequate.
What is Solo Brands Inc's debt-to-equity ratio?
Solo Brands Inc (SBDS) had a debt-to-equity ratio of 1.06 as of fiscal year 2024, 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 -36.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
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 -0.06x, considered mixed quality. 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.
How financially healthy is Solo Brands Inc?
Solo Brands Inc (SBDS) scores 23 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.