Solo Brands Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
SBDS$2.61-12.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| (In thousands) | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $(6,484) | $933 |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||
| Depreciation and amortization | 6,497 | 6,344 |
| Operating lease right-of-use assets expense | 2,290 | 1,961 |
| Equity-based compensation | 1,229 | 4,794 |
| Deferred income taxes | 966 | (1,604) |
| Change in fair value of contingent consideration | 398 | — |
| Amortization of debt issuance costs | 215 | 215 |
| Loss (gain) on disposal of property and equipment | — | 46 |
| Warranty provision | (16) | — |
| Changes in accounts receivable reserves | (200) | 67 |
| Changes in assets and liabilities | ||
| Accounts receivable | 3,853 | 8,917 |
| Inventory | (925) | 8,025 |
| Prepaid expenses and other current assets | (2,979) | 1,628 |
| Accounts payable | 2,716 | (2,658) |
| Accrued expenses and other current liabilities | (22,170) | (8,743) |
| Deferred revenue | (2,865) | (3,148) |
| Operating lease ROU assets and liabilities | (1,124) | (2,086) |
| Other non-current assets and liabilities | 72 | 12 |
| Net cash (used in) provided by operating activities | (18,527) | 14,703 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital expenditures | (2,387) | (1,820) |
| Net cash (used in) provided by investing activities | (2,387) | (1,820) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from long-term debt | 22,000 | — |
| Repayments of long-term debt | (1,250) | (6,250) |
| Distributions to non-controlling interests | (4,284) | (4,304) |
| Surrender of stock to settle taxes on restricted stock awards | (122) | — |
| Net cash (used in) provided by financing activities | 16,344 | (10,554) |
| Effect of exchange rate changes on cash | 139 | 71 |
| Net change in cash and cash equivalents | (4,431) | 2,400 |
| Cash and cash equivalents balance, beginning of period | 19,842 | 23,293 |
| Cash and cash equivalents balance, end of period | $15,411 | $25,693 |
| SUPPLEMENTAL NONCASH INVESTING AND FINANCING DISCLOSURES: | ||
| Operating lease right of use assets obtained in exchange for lease obligations | 5,223 | 259 |
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