Solo Brands Inc
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 2024
SBDS$2.61-12.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (In thousands) | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $(121,974) | $15,530 |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities | ||
| Restructuring, contract termination and impairment charges | 83,618 | 4,317 |
| Depreciation and amortization | 19,942 | 20,125 |
| Inventory charges associated with restructuring and consolidation activities | 18,742 | — |
| Operating lease right-of-use assets | 6,517 | 4,704 |
| Equity-based compensation | 4,408 | 14,714 |
| Change in fair value of contingent consideration | 4,721 | (2,242) |
| Prepaid marketing charges | 1,871 | — |
| Amortization of debt issuance costs | 645 | 645 |
| Changes in accounts receivable reserves | 401 | 1,312 |
| Deferred income taxes | (9,631) | (10,924) |
| Other | 26 | 186 |
| Changes in assets and liabilities | ||
| Accounts receivable | 4,058 | (5,472) |
| Inventory | (12,434) | 24,607 |
| Prepaid expenses and other current assets | (807) | (4,995) |
| Accounts payable | 29,608 | (891) |
| Accrued expenses and other current liabilities | (20,282) | (8,713) |
| Deferred revenue | (3,566) | (2,878) |
| Operating lease liabilities | (4,176) | (5,442) |
| Other non-current assets and liabilities | (1,157) | (5,419) |
| Payments of contingent consideration | (3,000) | — |
| Net cash (used in) provided by operating activities | (2,470) | 39,164 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital expenditures | (11,512) | (6,943) |
| Payments of contingent consideration | — | (9,386) |
| Acquisitions, net of cash acquired | — | (34,620) |
| Net cash (used in) provided by investing activities | (11,512) | (50,949) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from long-term debt | 40,000 | 60,000 |
| Repayments of long-term debt | (28,750) | (8,750) |
| Finance lease liability principal paid | (144) | — |
| Common stock repurchases | — | (36,957) |
| Distributions to non-controlling interests | (4,284) | (8,944) |
| Surrender of stock to settle taxes on restricted stock awards | (188) | (42) |
| Stock issued under employee stock purchase plan | 178 | 106 |
| Net cash (used in) provided by financing activities | 6,812 | 5,413 |
| Effect of exchange rate changes on cash | (178) | (370) |
| Net change in cash and cash equivalents | (7,348) | (6,742) |
| Cash and cash equivalents balance, beginning of period | 19,842 | 23,293 |
| Cash and cash equivalents balance, end of period | $12,494 | $16,551 |
| SUPPLEMENTAL NONCASH INVESTING AND FINANCING DISCLOSURES: | ||
| Operating lease right of use assets obtained in exchange for lease obligations | 6,109 | 2,532 |
| Financing lease right of use assets obtained in exchange for lease obligations | — | 899 |
| Treasury stock retirements | — | 31,164 |
| Re-issuance of treasury stock | — | 5,342 |
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