Solo Brands, Inc.
For the period ended Dec 31, 2025. Filed Mar 23, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 23, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Leases
NOTE 15 –Leases
The following tables present the components of the leased assets and lease liabilities and their classification in the Company’s consolidated balance sheets (in thousands):
| Classification in Consolidated Balance Sheets | December 31, 2025 | December 31, 2024 | |
|---|---|---|---|
| Non-current assets | |||
| Operating leases | Operating lease right-of-use assets | $17,901 | $27,683 |
| Total right-of-use assets, net | $17,901 | $27,683 | |
| Current liabilities | |||
| Operating leases | Accrued expenses and other current liabilities | $6,307 | $8,898 |
| Non-current liabilities | |||
| Operating leases | Operating lease liabilities | 13,888 | 22,079 |
| Total operating lease liabilities | $20,195 | $30,977 | |
| Classification in Consolidated Balance Sheets | December 31, 2025 | December 31, 2024 | |
|---|---|---|---|
| Non-current assets | |||
| Finance leases | Other non-current assets | $— | $1,313 |
| Total other non-current assets | $— | $1,313 | |
| Current liabilities | |||
| Finance leases | Accrued expenses and other current liabilities | $— | $472 |
| Non-current liabilities | |||
| Finance leases | Other non-current liabilities | — | 694 |
| Total lease liabilities | $— | $1,166 | |
The components of lease expense were as follows (in thousands):
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating lease right-of-use expense | $8,434 | $9,345 |
| Finance lease expense: | ||
| Amortization of assets | 189 | 376 |
| Interest on lease liabilities | 26 | 75 |
| Total finance lease expense | 215 | 451 |
| Variable lease expense | 2,538 | 2,332 |
| Short-term lease expense | 231 | 409 |
| Sublease income | (1,394) | (952) |
| Total lease expense | $10,024 | $11,585 |
The weighted average remaining lease term and discount rate are presented in the following table:
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Weighted average remaining lease term (years) | ||
| Operating leases | 4.26 | 4.40 |
| Finance leases | N/A | 3.47 |
| Weighted average discount rate | ||
| Operating leases | 4.38% | 3.78% |
| Finance leases | N/A | 6.15% |
Cash flow and other information related to leases is included in the following table (in thousands):
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash outflows for amounts included in the measurement of lease liabilities | ||
| Operating cash outflows from operating leases | $9,398 | $9,450 |
| Operating cash outflows from finance leases | 116 | 39 |
| Financing cash outflows from finance leases | 94 | 144 |
| Lease right of use assets obtained in exchange for lease obligations | ||
| Operating leases | 549 | 6,890 |
| ROU asset re-measurement | 638 | (1,352) |
See Note 3, Restructuring, Contract Termination and Impairment Charges for details as it relates to the closures of distribution centers and termination of an owned retail store lease agreement in 2025.
Future maturities of operating lease liabilities at December 31, 2025 are presented in the following table (in thousands):
| Years Ending December 31, | Operating Leases |
|---|---|
| 2026 | $7,582 |
| 2027 | 5,909 |
| 2028 | 4,150 |
| 2029 | 1,734 |
| 2030 | 827 |
| Thereafter | 3,333 |
| Total lease payments | 23,535 |
| Less: imputed interest | 3,340 |
| Present value of lease liabilities | $20,195 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.