Solo Brands Second Quarter Wholesale Revenue Surges 57%
By Daniella Parra
Solo Brands, Inc. (NYSE: DTC) said second quarter wholesale revenue increased 57% to $31.3 million.
Net sales reached $130.9 million driven by strong wholesale demand and adjusted EBITDA was $25 million, up 5.6% since the same period last year, it said in a statement.
Solo Brands reiterated its revenue range of $520 to $540 million, with the most likely outcome at the midpoint of the range at $530 million, and raised its adjusted EBITDA target from 16.5% to 17.5% to 17% to 18% for the full year.
“Our omni-channel approach to our business enabled us to lean into the strong momentum we were seeing through our wholesale channel as our brand awareness continues to grow,” said CEO John Merris. “Although consumers continue to be selective in choosing which brands they shop, we remain focused on the customer experience and product innovation to help us deliver in this environment.”
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