Solo Brands, Inc.
For the period ended Dec 31, 2025. Filed Mar 23, 2026.
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FY2025 · Filed Mar 23, 2026
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Property and Equipment, net
NOTE 8 –Property and Equipment, net
Property and equipment, net consisted of the following (in thousands):
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Machinery | $14,261 | $14,145 |
| Leasehold improvements | 10,892 | 11,058 |
| Buildings | 568 | 4,238 |
| Furniture and fixtures | 4,976 | 5,259 |
| Website development | 1,428 | 1,804 |
| Computer and other equipment | 1,118 | 1,809 |
| Land | 94 | 1,090 |
| Construction in progress | 513 | 335 |
| Property and equipment, gross | 33,850 | 39,738 |
| Accumulated depreciation and amortization | (20,653) | (15,543) |
| Property and equipment, net | $13,197 | $24,195 |
Depreciation expense for property and equipment, net, less tooling and website development costs, was $6.3 million and $5.2 million for the years ended December 31, 2025 and 2024, respectively.
Depreciation related to the tooling used to manufacture fire pits is included within cost of goods sold on the consolidated statements of operations and comprehensive income (loss). Depreciation for the tooling was $1.1 million and $0.9 million for the years ended December 31, 2025 and 2024, respectively.
Purchases of $4.6 million and $7.5 million related to property and equipment were included in capital expenditures within the consolidated statement of cash flows for the years ended December 31, 2025 and 2024, respectively.
The Company capitalized $0.5 million and $0.3 million in website development costs during the years ended December 31, 2025 and 2024, respectively. Capitalized website development costs are included in property and equipment, net on the consolidated balance sheets. Amortization of website development costs was $0.7 million and $0.5 million for the years ended December 31, 2025 and 2024, respectively, and included in depreciation and amortization expenses on the consolidated statements of operations and comprehensive income (loss).
During the year ended December 31, 2025, the Company recognized impairment of property and equipment in the amount of $0.8 million, which was primarily attributable to tooling fixed assets used in the production of products that the Company determined would no longer be produced as of December 31, 2025 and an impairment in the fair value of the buildings and land acquired in connection with the IcyBreeze purchase. During the year ended December 31, 2024, the Company recognized impairment of property and equipment in the amount of $2.9 million. See Note 3, Restructuring, Contract Termination and Impairment Charges for additional information on the remaining impairment and classification of said impairments.
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