Solo Brands Gives 2024 Guidance; Sees Revenue Between $490M-$500M
By Thomas Green
Solo Brands, Inc. (NYSE: DTC) gave guidance for 2024, with total revenue is expected to be between $490 million to $510 million, it said.
Adjusted EBITDA margin is expected to be between 10% to 12% for 2024, it said. The company reported a net loss of $195.3 million in 2023, down $187.7 million from 2022.
Gross margin decreased to 61.1%, or 40 basis points, in 2023 driven by a shift in channel mix to wholesale as compared to the prior year, partially offset by a decrease in freight costs.
“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 CEO Chris Metz. “As we focus on 2024, we see tremendous opportunity for both channel and category expansion in our business; however, we are mindful of the current uncertain environment and are not immune to the pressures on consumers’ discretionary spending.”
Contact:
Executives-edge.com
Editor@Executives-edge.com
