$DTC reports Solo Brands' Strong FY 2022 Results and Confident Guidance for 2023
Mar 9th 2023, 11:56 am
Analyst Summary: Solo Brands exceeded expectations in both Q4 and FY 2022, with net sales growing 11% and 28%, respectively. Gross profit increased by 5% in Q4 and 22% in FY 2022. John Merris, CEO of Solo Brands, highlighted the success of the company's differentiated model and the expectation to execute near and long-term strategies. Despite ongoing macro uncertainty, the company provided full-year 2023 guidance of $350 million in discretionary spending, and an expected adjusted EBITDA margin of 16-17%. Solo Brands is a direct-to-consumer platform that offers innovative products primarily through its owned websites. The company warns that forward-looking statements remain subject to risk factors such as international operations, geopolitical actions, and COVID-19.