Solo Brands (DTC) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40979
Entity Registrant Name	Solo Brands, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1360865
Entity Address, Address Line One	1001 Mustang Dr.
Entity Address, City or Town	Grapevine
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76051
City Area Code	817
Local Phone Number	900-2664
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	DTC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001870600
Current Fiscal Year End Date	--12-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		63,688,899
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		32,564,669

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 25,693	$ 23,293
Accounts receivable, net of allowance for credit losses of $1.6 million and $1.5 million	17,198	26,176
Inventory	125,009	132,990
Prepaid expenses and other current assets	11,013	12,639
Total current assets	178,913	195,098
Non-current assets
Property and equipment, net	15,358	15,166
Intangible assets, net	229,580	234,632
Goodwill	382,658	382,658
Other non-current assets	33,535	34,793
Total non-current assets	661,131	667,249
Total assets	840,044	862,347
Current liabilities
Accounts payable	8,830	11,783
Accrued expenses and other current liabilities	36,574	43,377
Deferred revenue	3,701	6,848
Current portion of long-term debt	5,000	5,000
Total current liabilities	54,105	67,008
Non-current liabilities
Long-term debt, net	102,348	108,383
Deferred tax liability	81,062	82,621
Other non-current liabilities	27,909	29,338
Total non-current liabilities	211,319	220,342
Commitments and contingencies (Note 1)
Shareholders’ equity
Additional paid-in capital	360,992	358,118
Retained earnings (accumulated deficit)	6,670	5,746
Accumulated other comprehensive income (loss)	(429)	(499)
Treasury stock	(35)	(35)
Equity attributable to the controlling interest	367,294	363,426
Equity attributable to non-controlling interests	207,326	211,571
Total equity	574,620	574,997
Total liabilities and equity	840,044	862,347
Class A Common Stock
Shareholders’ equity
Common stock issued	64	64
Class B Common Stock
Shareholders’ equity
Common stock issued	$ 32	$ 32

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 1,600	$ 1,500
Common stock issued (in shares)	32,384,766
Treasury stock	$ (35)	$ (35)
Class A Common Stock
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	475,000,000	475,000,000
Common stock issued (in shares)	63,688,692	63,651,051
Common stock outstanding (in shares)	63,688,692	63,651,051
Class B Common Stock
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	50,000,000	50,000,000
Common stock issued (in shares)		32,157,983
Common stock outstanding (in shares)	32,384,766	32,157,983

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Net sales	$ 88,207	$ 82,203
Cost of goods sold	33,804	33,350
Gross Profit	54,403	48,853
Operating expenses
Selling, general & administrative expenses	44,622	45,644
Depreciation and amortization expenses	6,178	5,935
Other operating expenses	405	500
Total operating expenses	51,205	52,079
Income (loss) from operations	3,198	(3,226)
Non-operating (income) expense
Interest expense, net	2,286	796
Other non-operating (income) expense	(332)	91
Total non-operating (income) expense	1,954	887
Income (loss) before income taxes	1,244	(4,113)
Income tax expense (benefit)	311	(878)
Net income (loss)	933	(3,235)
Less: net income (loss) attributable to noncontrolling interests	9	(1,200)
Net income (loss) attributable to Solo Brands, Inc.	924	(2,035)
Other comprehensive (loss) income
Foreign currency translation, net of tax	13	24
Comprehensive (loss) income	946	(3,211)
Less: comprehensive income attributable to noncontrolling interests	4	8
Less: net (loss) income attributable to noncontrolling interests	9	(1,200)
Comprehensive (loss) income attributable to Solo Brands, Inc.	$ 933	$ (2,019)
Income (loss) per Class A common stock
Basic (in dollars per share)	$ 0.01	$ (0.03)
Diluted (in dollars per share)	$ 0.01	$ (0.03)
Weighted-average Class A common stock outstanding
Basic (in shares)	63,670	63,401
Diluted (in shares)	63,890	63,401

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 933	$ (3,235)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Amortization of intangible assets	5,253	5,258
Equity-based compensation	4,794	4,437
Operating lease right-of-use assets expense	1,961	1,321
Deferred income taxes	(1,604)	0
Depreciation	1,091	677
Other adjustments	328	250
Changes in assets and liabilities
Accounts receivable	8,917	(4,422)
Inventory	8,025	(24,266)
Prepaid expenses and other current assets	1,628	(2,350)
Accounts payable	(2,658)	2,094
Accrued expenses and other current liabilities	(8,743)	110
Deferred revenue	(3,148)	192
Other non-current assets and liabilities	(2,074)	(5,577)
Net cash (used in) provided by operating activities	14,703	(25,511)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,820)	(1,696)
Acquisitions, net of cash acquired	0	(774)
Net cash (used in) provided by investing activities	(1,820)	(2,470)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term debt	0	20,000
Repayments of long-term debt	(6,250)	(625)
Distributions to non-controlling interests	(4,304)	(628)
Net cash (used in) provided by financing activities	(10,554)	18,747
Effect of exchange rate changes on cash	71	(4)
Net change in cash and cash equivalents	2,400	(9,238)
Cash and cash equivalents balance, beginning of period	23,293	25,101
Cash and cash equivalents balance, end of period	$ 25,693	$ 15,863

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income	Treasury Stock	Non-controlling Interest	Class A Common Stock Common Stock	Class B Common Stock Common Stock
Beginning balance (in shares) at Dec. 31, 2021							63,397	31,179
Beginning balance at Dec. 31, 2021	$ 574,171	$ 10,691	$ 350,088	$ 6		$ 213,292	$ 63	$ 31
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,235)		(2,035)			(1,200)
Equity-based compensation	4,437	3,300				1,137
Other comprehensive income (loss)	24			16		8
Tax distributions to non-controlling interests	(4,290)					(4,290)
Vested equity-based compensation and re-allocation of ownership percentage (in shares)							4	90
Vested equity-based compensation and re-allocation of ownership percentage	0	(380)				380
Ending balance (in shares) at Mar. 31, 2022							63,401	31,269
Ending balance at Mar. 31, 2022	571,107	353,008	8,656	22		209,327	$ 63	$ 31
Beginning balance (in shares) at Dec. 31, 2022							63,651	32,158
Beginning balance at Dec. 31, 2022	574,997	358,118	5,746	(499)	$ (35)	211,571	$ 64	$ 32
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	933		924			9
Equity-based compensation	4,764	3,703				1,061
Other comprehensive income (loss)	104			70		34
Tax distributions to non-controlling interests	(6,178)	0				(6,178)
Vested equity-based compensation and re-allocation of ownership percentage (in shares)							38	227
Vested equity-based compensation and re-allocation of ownership percentage	0	(829)				829
Ending balance (in shares) at Mar. 31, 2023							63,689	32,385
Ending balance at Mar. 31, 2023	$ 574,620	$ 360,992	$ 6,670	$ (429)	$ (35)	$ 207,326	$ 64	$ 32

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Included below are selected significant accounting policies, including those that were added or modified during the three months ended March 31, 2023 as a result of the adoption of new accounting policies. Refer to Note 2, Significant Accounting Policies, within the annual consolidated financial statements in the Company’s 2022 Form 10-K for the full list of significant accounting policies. Basis of Presentation The unaudited consolidated financial statements contained herein have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and the rules of the SEC. The unaudited consolidated financial statements include the wholly-owned subsidiaries. Intercompany balances and transactions are eliminated in consolidation. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the 2022 Form 10-K. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates and assumptions about future events and their effects cannot be made with certainty. Estimates may change as new events occur when additional information becomes available and if the operating environment changes. Actual results could differ from estimates. Accounts Receivable, net Accounts receivables consists of amounts due to the Company from retailers and direct-to-corporate customers. Accounts receivable are recorded at invoiced amounts, less contractual allowances for trade terms, sales incentive programs, and discounts. The Company maintains an allowance for credit losses for expected losses that will result from the inability of customers to make required payments. The allowance is determined based on a review of specific customer accounts where the collection is doubtful, as well as an assessment of the collectability of total receivables considering the aging of balances, historical and anticipated trends, and other factors. All accounts are subject to an ongoing review of ultimate collectability. Receivables are written off against the allowance when it is probable the amounts will not be recovered. Commitments and Contingencies From time to time, the Company is involved in various legal proceedings that arise in the normal course of business. While the Company intends to prosecute and defend any lawsuit vigorously, the Company presently believes that the ultimate outcome of any currently pending legal proceeding will not have any material adverse effect on its financial position, cash flows, or results of operations. However, litigation is subject to inherent uncertainties and unfavorable rulings could occur. An unfavorable ruling could include monetary damages, which could impact the Company’s business and the results of operations for the period in which the ruling occurs or future periods. Based on the information available, the Company evaluates the likelihood of potential outcomes. The Company records the appropriate liability when the amount is deemed probable and reasonably estimable. In addition, the Company does not accrue for estimated legal fees and other directly related costs as they are expensed as incurred. The Company is not currently a party to any pending litigation that it considers material. Therefore, the consolidated balance sheets do not include a liability for any potential obligations as of March 31, 2023 and December 31, 2022. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments. The ASU includes changes to the accounting and measurement of financial assets, including the Company’s accounts receivable, by requiring the Company to recognize an allowance for all expected losses over the life of the financial asset at origination. Prior to adoption of this ASU, an allowance was not recognized until the losses were considered probable. In November 2019, the FASB issued ASU 2019-10, deferring the effective date of ASU 2016-13 to annual periods beginning after December 15, 2022. The Company adopted this standard on January 1, 2023 using the modified retrospective transition approach to the beginning of the year of adoption. Based on the evaluation of potential financial statement impacts performed by management, the Company did not record an adjustment to opening retained earnings. The adoption of this standard has not had and is not expected to have a material impact on the Company’s consolidated financial statements. Additionally, the Company modified its accounting policy to conform with the requirements of the adoption of this standard. Recently Issued Accounting Pronouncements - Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, an update that provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The optional guidance is provided to ease the potential burden of accounting for reference rate reform. The guidance was effective as of March 12, 2020. In December 2022, the FASB issued ASU 2022-06, deferring the date through which Topic 848 is available for contract modifications to December 31, 2024. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company primarily engages in (1) direct-to-consumer transactions, which are primarily comprised of product sales directly from the Company’s websites, and (2) business-to-business transactions, or wholesale, which are comprised of product sales to retailers, including where possession of the Company's products is taken and sold by the retailer in-store or online. The following table disaggregates net sales by channel: Three Months Ended March 31, 2023 2022 Net sales by channel Direct-to-consumer $ 54,750 $ 60,230 Wholesale 33,457 21,973 Total net sales $ 88,207 $ 82,203

Inventory

Inventory	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following: March 31, 2023 December 31, 2022 Finished products on hand $ 111,015 $ 112,126 Finished products in transit 10,014 16,589 Raw materials 3,980 4,275 Inventory $ 125,009 $ 132,990

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net consisted of the following: March 31, 2023 December 31, 2022 Machinery $ 9,233 $ 8,940 Leasehold improvements 7,436 6,959 Computer, software, and other equipment 2,316 2,003 Furniture and fixtures 1,585 1,463 Construction in progress 144 67 Property and equipment, gross 20,714 19,432 Accumulated depreciation (5,356) (4,266) Property and equipment, net $ 15,358 $ 15,166 Depreciation expense was $0.9 million and $0.7 million for the three months ended March 31, 2023 and 2022, respectively. Depreciation expense is recorded to depreciation and amortization expenses on the unaudited consolidated statements of operations and comprehensive income (loss).

Intangible Assets, net

Intangible Assets, net	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net	Intangible Assets, net Intangible assets consisted of the following: March 31, 2023 December 31, 2022 Gross carrying value Brand $ 196,114 $ 196,114 Trademark 33,566 33,566 Customer relationships 28,605 28,605 Developed technology 17,871 17,871 Patents 3,085 2,883 Intangible assets, gross 279,241 279,039 Accumulated amortization and impairments Brand (32,414) (29,146) Trademark (1) (6,553) (5,957) Customer relationships (5,198) (4,542) Developed technology (4,893) (4,255) Patents (603) (507) Accumulated amortization, gross (49,661) (44,407) Intangible assets, net $ 229,580 $ 234,632 (1) Includes impairment of trademark. See Note 7, Intangible Assets, net, to the audited consolidated financial statements included in the 2022 Form 10-K. Amortization expense was $5.3 million for the three months ended March 31, 2023 and 2022. Amortization expense is recorded to depreciation and amortization expenses on the unaudited consolidated statements of operations and comprehensive income (loss).

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Significant accrued expenses and other current liabilities were as follows: March 31, 2023 December 31, 2022 Income taxes 7,069 5,490 Leases 7,054 6,889 Inventory 6,542 7,543 Payroll 3,448 6,999 Non-income taxes 2,697 6,163 Allowance for sales returns 2,323 3,937 Marketing 2,217 451 Accrued distributions 1,874 2 Shipping costs 1,029 3,607 Other 2,321 2,296 Accrued expenses and other current liabilities $ 36,574 $ 43,377

Long-Term Debt, Net

Long-Term Debt, Net	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt, Net	Long-Term Debt, Net Long-term debt, net consisted of the following: Weighted-Average Interest Rate at March 31, 2023 March 31, 2023 December 31, 2022 Term loan 6.23 % $ 95,000 $ 96,250 Revolving credit facility 6.21 % 15,000 20,000 Unamortized debt issuance costs (2,652) (2,867) Total debt, net of debt issuance costs 107,348 113,383 Less: current portion of long-term debt 5,000 5,000 Long-term debt, net $ 102,348 $ 108,383 Long-term debt, net equivocates fair value and is valued using Level 2 inputs within the fair value hierarchy, as defined in Note 2, Significant Accounting Policies, in the 2022 Form 10-K.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's unaudited consolidated balance sheets: Classification in Consolidated Balance Sheets March 31, 2023 December 31, 2022 Operating lease right-of-use assets Other non-current assets $ 33,000 $ 34,259 Current operating lease liabilities Accrued expenses and other current liabilities 7,054 6,889 Long-term operating lease liabilities Other non-current liabilities 27,723 29,133 Total operating lease liabilities $ 34,777 $ 36,022 The components of lease expense were as follows: Three Months Ended March 31, 2023 March 31, 2022 Operating lease right-of-use expense $ 1,961 $ 1,321 Variable and short-term lease expense 609 481 Total lease expense $ 2,570 $ 1,802 The weighted average remaining lease term and discount rate are presented in the following table: March 31, 2023 December 31, 2022 Weighted average remaining lease term (years) 4.81 5.05 Weighted average discount rate 2.71 % 2.66 % Cash flow and other information related to leases is included in the following table: Three Months Ended March 31, 2023 March 31, 2022 Operating cash outflows for amounts included in the measurement of lease liabilities $ 1,946 $ 573 Operating lease right of use assets obtained in exchange for lease obligations 259 2,994 Future maturities of lease liabilities at March 31, 2023 are presented in the following table: Years Ending December 31, Operating Leases 2023 (remaining nine months) $ 5,962 2024 8,055 2025 8,120 2026 6,707 2027 4,774 Thereafter 3,906 Total lease payments 37,524 Less: imputed interest 2,747 Present value of lease liabilities $ 34,777

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation Summary of Equity-Based Compensation The table below summarizes equity-based compensation expense recognized by award type: Three Months Ended March 31, 2023 March 31, 2022 Common units $ 3,152 $ 3,445 Restricted stock units 962 814 Performance stock units 609 — Stock options 71 178 Total equity-based compensation $ 4,794 $ 4,437 Common Units A summary of the common units is as follows for the periods indicated (in thousands, except per share data): Outstanding Common Units Weighted Average Grant Date Fair Value Per Unit Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Unvested, December 31, 2022 1,193 $ 13.12 1.16 $ 15,655 Granted — — — Forfeited/canceled (38) 12.04 (458) Vested (227) 15.29 (3,471) Unvested, March 31, 2023 928 12.63 1.07 11,726 Exercisable, March 31, 2023 (1) — $ — $ — (1) Note there were performance and service-based units that vested by March 31, 2023. However, none of them are exercisable due to the Stockholders Agreement, as described in Note 12, Equity-Based Compensation, to the audited consolidated financial statements included in our 2022 Form 10-K. Incentive Award Plan Restricted Stock Units The following table summarizes the activity related to the Company’s restricted stock units: Restricted Stock Units Outstanding Number of Awards Weighted-Average Grant Date Fair Value Outstanding, December 31, 2022 1,784 $ 6.05 Granted 2 6.09 Vested and converted to shares (38) 16.20 Forfeited/canceled (225) 6.05 Outstanding, March 31, 2023 1,523 $ 5.80 Performance Stock Units The following table summarizes the activity related to the Company’s performance stock units: Performance Stock Units Outstanding Number of Awards Weighted-Average Grant Date Fair Value Outstanding, December 31, 2022 1,296 $ 3.86 Granted 5 4.40 Vested and converted to shares — — Forfeited/canceled (10) 3.86 Outstanding, March 31, 2023 1,291 $ 3.86 Stock Options The following table summarizes the activity related to the Company’s stock options: Number of Stock Options Weighted-Average Grant Date Fair Value Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding, December 31, 2022 687 $ 4.34 $ 8.29 4.98 $ — Granted — — — — Forfeited or expired (204) 3.40 5.76 — Vested — — — — Outstanding, March 31, 2023 483 $ 4.73 9.35 4.95 — Exercisable, March 31, 2023 62 $ 8.71 $ 17.00 — $ — (1) The aggregate intrinsic value is zero because the closing Class A common stock price at the end of each period is less than the weighted-average exercise price of the options. Employee Stock Purchase Plan As of March 31, 2023, 102,616 shares of Class A common stock have been issued under the Solo Brands, Inc. 2021 Employee Stock Purchase Plan.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Provision for Income Taxes The effective income tax rate was 25.0% for the three months ended March 31, 2023, compared to 21.3% for the corresponding period in 2022. The increase for the three months ended March 31, 2023 was primarily due to a discrete tax expense related to equity-based compensation for the share vestings in the current period. Income tax expense for the three months ended March 31, 2023 was $0.3 million, respectively, compared to $0.9 million of income tax benefit in the corresponding period for 2022. Income taxes represents federal, state, and local income taxes on the Company’s allocable share of taxable income of Solo Stove Holdings, LLC (“Holdings”), as well as Oru's and Chubbies' federal and state tax expense and foreign tax expense related to international subsidiaries. The weighted-average ownership interest in Holdings was 66.3% and 67.0% for the three months ended March 31, 2023 and 2022, respectively. Deferred Tax Assets and Liabilities As of March 31, 2023, the total deferred tax liability related to the basis difference in the Company's investment in Holdings was $44.0 million. However, a portion of the total basis difference will only reverse upon the eventual sale of its interest in Holdings, which the Company expects would result in a capital loss. As of March 31, 2023, the total valuation allowance established against the deferred tax asset to which this portion relates was $26.5 million. During the three months ended March 31, 2023, the Company did not recognize any deferred tax assets related to additional tax basis increases generated from expected future payments under the Tax Receivable Agreement, as defined in Note 13, Income Taxes, to the audited consolidated financial statements included in our 2022 Form 10-K. The Company evaluates the realizability of its deferred tax assets on a quarterly basis and establishes valuation allowances when it is more likely than not that all or a portion of a deferred tax asset may not be realized. As of March 31, 2023, the Company concluded, based on the weight of all available positive and negative evidence, that all of its deferred tax assets (except for those deferred tax assets described above relating to basis differences that are expected to result in a capital loss upon eventual sale of its interest in Holdings) are more likely than not to be realized. As such, no additional valuation allowance was recognized.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per ShareBasic net income (loss) per share of Class A common stock is computed by dividing net income (loss) attributable to Solo Brands, Inc. by the weighted average number of shares of Class A common stock outstanding during the period. Diluted net income (loss) per share of Class A common stock is computed by dividing net income (loss) attributable to Solo Brands, Inc. by the weighted average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. The following table sets forth the calculation of the basic and diluted net income (loss) per share for the Company’s Class A common stock: Three Months Ended March 31, Three Months Ended March 31, 2023 2022 Net income (loss) $ 933 $ (3,235) Less: Net income (loss) attributable to non-controlling interests 9 (1,200) Net income (loss) attributable to Solo Brands, Inc. $ 924 $ (2,035) Denominator: Weighted average shares of Class A common stock outstanding - basic 63,670 63,401 Effect of dilutive securities 220 — Weighted average shares of Class A common stock outstanding - diluted 63,890 63,401 Income (loss) per share of Class A common stock outstanding - basic $ 0.01 $ (0.03) Income (loss) per share of Class A common stock outstanding - diluted $ 0.01 $ (0.03) During the three months ended March 31, 2023 and 2022, 0.5 million and 0.2 million options and 0.4 million and 0.2 million restricted stock units, respectively, were not included in the computation of diluted net income per share because their effect would have been anti-dilutive. The Company has determined that the performance stock units and the shares of Class B common stock will in all cases neither be dilutive nor anti-dilutive and has excluded them from the calculation of net income (loss) per Class A common stock for all periods presented.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In accordance with ASC Topic 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company evaluated subsequent events and transactions that occurred after March 31, 2023, the balance sheet date, up to the date that the financial statements were available to be issued. As a result, the following transactions were identified as subsequent events as of March 31, 2023. On May 1st, the Company completed the acquisition of Terraflame. The Company does not anticipate this acquisition having a material impact on the 2023 financials. Additional disclosures required by ASC 805, Business Combinations, with respect to the acquisition have been omitted because the information needed for the disclosures is not currently available due to the close proximity of closing of this transaction with the date these financial statements are being issued.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	The unaudited consolidated financial statements contained herein have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and the rules of the SEC. The unaudited consolidated financial statements include the wholly-owned subsidiaries. Intercompany balances and transactions are eliminated in consolidation. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the 2022 Form 10-K.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates and assumptions about future events and their effects cannot be made with certainty. Estimates may change as new events occur when additional information becomes available and if the operating environment changes. Actual results could differ from estimates.
Accounts Receivable, net	Accounts receivables consists of amounts due to the Company from retailers and direct-to-corporate customers. Accounts receivable are recorded at invoiced amounts, less contractual allowances for trade terms, sales incentive programs, and discounts. The Company maintains an allowance for credit losses for expected losses that will result from the inability of customers to make required payments. The allowance is determined based on a review of specific customer accounts where the collection is doubtful, as well as an assessment of the collectability of total receivables considering the aging of balances, historical and anticipated trends, and other factors. All accounts are subject to an ongoing review of ultimate collectability. Receivables are written off against the allowance when it is probable the amounts will not be recovered.
Commitments and Contingencies	From time to time, the Company is involved in various legal proceedings that arise in the normal course of business. While the Company intends to prosecute and defend any lawsuit vigorously, the Company presently believes that the ultimate outcome of any currently pending legal proceeding will not have any material adverse effect on its financial position, cash flows, or results of operations. However, litigation is subject to inherent uncertainties and unfavorable rulings could occur. An unfavorable ruling could include monetary damages, which could impact the Company’s business and the results of operations for the period in which the ruling occurs or future periods. Based on the information available, the Company evaluates the likelihood of potential outcomes. The Company records the appropriate liability when the amount is deemed probable and reasonably estimable. In addition, the Company does not accrue for estimated legal fees and other directly related costs as they are expensed as incurred. The Company is not currently a party to any pending litigation that it considers material. Therefore, the consolidated balance sheets do not include a liability for any potential obligations as of March 31, 2023 and December 31, 2022.
Recently Adopted Accounting Pronouncements, Recently Issued Accounting Pronouncements - Not Yet Adopted	In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments. The ASU includes changes to the accounting and measurement of financial assets, including the Company’s accounts receivable, by requiring the Company to recognize an allowance for all expected losses over the life of the financial asset at origination. Prior to adoption of this ASU, an allowance was not recognized until the losses were considered probable. In November 2019, the FASB issued ASU 2019-10, deferring the effective date of ASU 2016-13 to annual periods beginning after December 15, 2022. The Company adopted this standard on January 1, 2023 using the modified retrospective transition approach to the beginning of the year of adoption. Based on the evaluation of potential financial statement impacts performed by management, the Company did not record an adjustment to opening retained earnings. The adoption of this standard has not had and is not expected to have a material impact on the Company’s consolidated financial statements. Additionally, the Company modified its accounting policy to conform with the requirements of the adoption of this standard. Recently Issued Accounting Pronouncements - Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, an update that provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The optional guidance is provided to ease the potential burden of accounting for reference rate reform. The guidance was effective as of March 12, 2020. In December 2022, the FASB issued ASU 2022-06, deferring the date through which Topic 848 is available for contract modifications to December 31, 2024. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Net Sales	The following table disaggregates net sales by channel: Three Months Ended March 31, 2023 2022 Net sales by channel Direct-to-consumer $ 54,750 $ 60,230 Wholesale 33,457 21,973 Total net sales $ 88,207 $ 82,203

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following: March 31, 2023 December 31, 2022 Finished products on hand $ 111,015 $ 112,126 Finished products in transit 10,014 16,589 Raw materials 3,980 4,275 Inventory $ 125,009 $ 132,990

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, net	Property and equipment, net consisted of the following: March 31, 2023 December 31, 2022 Machinery $ 9,233 $ 8,940 Leasehold improvements 7,436 6,959 Computer, software, and other equipment 2,316 2,003 Furniture and fixtures 1,585 1,463 Construction in progress 144 67 Property and equipment, gross 20,714 19,432 Accumulated depreciation (5,356) (4,266) Property and equipment, net $ 15,358 $ 15,166

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: March 31, 2023 December 31, 2022 Gross carrying value Brand $ 196,114 $ 196,114 Trademark 33,566 33,566 Customer relationships 28,605 28,605 Developed technology 17,871 17,871 Patents 3,085 2,883 Intangible assets, gross 279,241 279,039 Accumulated amortization and impairments Brand (32,414) (29,146) Trademark (1) (6,553) (5,957) Customer relationships (5,198) (4,542) Developed technology (4,893) (4,255) Patents (603) (507) Accumulated amortization, gross (49,661) (44,407) Intangible assets, net $ 229,580 $ 234,632 (1) Includes impairment of trademark. See Note 7, Intangible Assets, net, to the audited consolidated financial statements included in the 2022 Form 10-K.

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Significant accrued expenses and other current liabilities were as follows: March 31, 2023 December 31, 2022 Income taxes 7,069 5,490 Leases 7,054 6,889 Inventory 6,542 7,543 Payroll 3,448 6,999 Non-income taxes 2,697 6,163 Allowance for sales returns 2,323 3,937 Marketing 2,217 451 Accrued distributions 1,874 2 Shipping costs 1,029 3,607 Other 2,321 2,296 Accrued expenses and other current liabilities $ 36,574 $ 43,377

Long-Term Debt, Net (Tables)

Long-Term Debt, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt, net consisted of the following: Weighted-Average Interest Rate at March 31, 2023 March 31, 2023 December 31, 2022 Term loan 6.23 % $ 95,000 $ 96,250 Revolving credit facility 6.21 % 15,000 20,000 Unamortized debt issuance costs (2,652) (2,867) Total debt, net of debt issuance costs 107,348 113,383 Less: current portion of long-term debt 5,000 5,000 Long-term debt, net $ 102,348 $ 108,383

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Operating Lease Assets and Liabilities	The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's unaudited consolidated balance sheets: Classification in Consolidated Balance Sheets March 31, 2023 December 31, 2022 Operating lease right-of-use assets Other non-current assets $ 33,000 $ 34,259 Current operating lease liabilities Accrued expenses and other current liabilities 7,054 6,889 Long-term operating lease liabilities Other non-current liabilities 27,723 29,133 Total operating lease liabilities $ 34,777 $ 36,022
Schedule of Components of Lease Expense	The components of lease expense were as follows: Three Months Ended March 31, 2023 March 31, 2022 Operating lease right-of-use expense $ 1,961 $ 1,321 Variable and short-term lease expense 609 481 Total lease expense $ 2,570 $ 1,802 The weighted average remaining lease term and discount rate are presented in the following table: March 31, 2023 December 31, 2022 Weighted average remaining lease term (years) 4.81 5.05 Weighted average discount rate 2.71 % 2.66 % Cash flow and other information related to leases is included in the following table: Three Months Ended March 31, 2023 March 31, 2022 Operating cash outflows for amounts included in the measurement of lease liabilities $ 1,946 $ 573 Operating lease right of use assets obtained in exchange for lease obligations 259 2,994
Schedule of Future Maturities of Operating Lease Liabilities	Future maturities of lease liabilities at March 31, 2023 are presented in the following table: Years Ending December 31, Operating Leases 2023 (remaining nine months) $ 5,962 2024 8,055 2025 8,120 2026 6,707 2027 4,774 Thereafter 3,906 Total lease payments 37,524 Less: imputed interest 2,747 Present value of lease liabilities $ 34,777

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Equity-based Compensation Expense	The table below summarizes equity-based compensation expense recognized by award type: Three Months Ended March 31, 2023 March 31, 2022 Common units $ 3,152 $ 3,445 Restricted stock units 962 814 Performance stock units 609 — Stock options 71 178 Total equity-based compensation $ 4,794 $ 4,437
Schedule of Common Units and Stock Options Activity	A summary of the common units is as follows for the periods indicated (in thousands, except per share data): Outstanding Common Units Weighted Average Grant Date Fair Value Per Unit Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Unvested, December 31, 2022 1,193 $ 13.12 1.16 $ 15,655 Granted — — — Forfeited/canceled (38) 12.04 (458) Vested (227) 15.29 (3,471) Unvested, March 31, 2023 928 12.63 1.07 11,726 Exercisable, March 31, 2023 (1) — $ — $ — (1) Note there were performance and service-based units that vested by March 31, 2023. However, none of them are exercisable due to the Stockholders Agreement, as described in Note 12, Equity-Based Compensation, to the audited consolidated financial statements included in our 2022 Form 10-K. The following table summarizes the activity related to the Company’s stock options: Number of Stock Options Weighted-Average Grant Date Fair Value Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding, December 31, 2022 687 $ 4.34 $ 8.29 4.98 $ — Granted — — — — Forfeited or expired (204) 3.40 5.76 — Vested — — — — Outstanding, March 31, 2023 483 $ 4.73 9.35 4.95 — Exercisable, March 31, 2023 62 $ 8.71 $ 17.00 — $ — (1) The aggregate intrinsic value is zero because the closing Class A common stock price at the end of each period is less than the weighted-average exercise price of the options.
Schedule of Restricted Stock Units Activity	The following table summarizes the activity related to the Company’s restricted stock units: Restricted Stock Units Outstanding Number of Awards Weighted-Average Grant Date Fair Value Outstanding, December 31, 2022 1,784 $ 6.05 Granted 2 6.09 Vested and converted to shares (38) 16.20 Forfeited/canceled (225) 6.05 Outstanding, March 31, 2023 1,523 $ 5.80 The following table summarizes the activity related to the Company’s performance stock units: Performance Stock Units Outstanding Number of Awards Weighted-Average Grant Date Fair Value Outstanding, December 31, 2022 1,296 $ 3.86 Granted 5 4.40 Vested and converted to shares — — Forfeited/canceled (10) 3.86 Outstanding, March 31, 2023 1,291 $ 3.86

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Per Share and Weighted-Average Common Shares Outstanding	The following table sets forth the calculation of the basic and diluted net income (loss) per share for the Company’s Class A common stock: Three Months Ended March 31, Three Months Ended March 31, 2023 2022 Net income (loss) $ 933 $ (3,235) Less: Net income (loss) attributable to non-controlling interests 9 (1,200) Net income (loss) attributable to Solo Brands, Inc. $ 924 $ (2,035) Denominator: Weighted average shares of Class A common stock outstanding - basic 63,670 63,401 Effect of dilutive securities 220 — Weighted average shares of Class A common stock outstanding - diluted 63,890 63,401 Income (loss) per share of Class A common stock outstanding - basic $ 0.01 $ (0.03) Income (loss) per share of Class A common stock outstanding - diluted $ 0.01 $ (0.03)

Revenue - Disaggregation of Net

Revenue - Disaggregation of Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total net sales	$ 88,207	$ 82,203
Direct-to-consumer
Disaggregation of Revenue [Line Items]
Total net sales	54,750	60,230
Wholesale
Disaggregation of Revenue [Line Items]
Total net sales	$ 33,457	$ 21,973

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished products on hand	$ 111,015	$ 112,126
Finished products in transit	10,014	16,589
Raw materials	3,980	4,275
Inventory	$ 125,009	$ 132,990

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,714	$ 19,432
Accumulated depreciation	(5,356)	(4,266)
Property and equipment, net	15,358	15,166
Machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,233	8,940
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,436	6,959
Computer, software, and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,316	2,003
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,585	1,463
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 144	$ 67

Property and Equipment, net - N

Property and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.9	$ 0.7

Intangible Assets, net - Schedu

Intangible Assets, net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 279,241	$ 279,039
Accumulated amortization, gross	(49,661)	(44,407)
Intangible assets, net	229,580	234,632
Brand
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	196,114	196,114
Accumulated amortization, gross	(32,414)	(29,146)
Trademark
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	33,566	33,566
Accumulated amortization and impairment, gross	(6,553)	(5,957)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	28,605	28,605
Accumulated amortization, gross	(5,198)	(4,542)
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	17,871	17,871
Accumulated amortization, gross	(4,893)	(4,255)
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	3,085	2,883
Accumulated amortization, gross	$ (603)	$ (507)

Intangible Assets, net - Narrat

Intangible Assets, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 5,253	$ 5,258

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Leases	$ 7,054	$ 6,889
Inventory	6,542	7,543
Income taxes	7,069	5,490
Payroll	3,448	6,999
Non-income taxes	2,697	6,163
Allowance for sales returns	2,323	3,937
Marketing	2,217	451
Accrued distributions	1,874	2
Shipping costs	1,029	3,607
Other	2,321	2,296
Accrued expenses and other current liabilities	$ 36,574	$ 43,377

Long-Term Debt, Net - Schedule

Long-Term Debt, Net - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (2,652)	$ (2,867)
Total debt, net of debt issuance costs	107,348	113,383
Less: current portion of long-term debt	5,000	5,000
Long-term debt, net	$ 102,348	108,383
Term loan
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)	6.23%
Total debt, gross	$ 95,000	96,250
Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)	6.21%
Total debt, gross	$ 15,000	$ 20,000

Leases - Schedule of Components

Leases - Schedule of Components of the Total Leased Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Operating lease right-of-use assets	$ 33,000	$ 34,259
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Current operating lease liabilities	$ 7,054	$ 6,889
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Long-term operating lease liabilities	$ 27,723	$ 29,133
Total operating lease liabilities	$ 34,777	$ 36,022

Leases - Schedule of Componen_2

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease right-of-use expense	$ 1,961	$ 1,321
Variable and short-term lease expense	609	481
Total lease expense	$ 2,570	$ 1,802

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term (in years)	4 years 9 months 21 days	5 years 18 days
Weighted average discount rate (percent)	2.71%	2.66%

Leases - Schedule of Cash Flow

Leases - Schedule of Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating cash outflows for amounts included in the measurement of lease liabilities	$ 1,946	$ 573
Operating lease right of use assets obtained in exchange for lease obligations	$ 259	$ 2,994

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Annual Commitments Under Operating Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2023 (remaining nine months)	$ 5,962
2024	8,055
2025	8,120
2026	6,707
2027	4,774
Thereafter	3,906
Total lease payments	37,524
Less: imputed interest	2,747
Total operating lease liabilities	$ 34,777	$ 36,022

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Equity -Based Compensation Arrangements by Share-Based Payment Award (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 4,794	$ 4,437
Common units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	3,152	3,445
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	962	814
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	609	0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 71	$ 178

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Common Units (Details) - Common units - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Outstanding Common Units
Beginning balance (in shares)	1,193
Granted (in shares)	0
Forfeited/canceled (in shares)	(38)
Vested (in shares)	(227)
Ending balance (in shares)	928	1,193
Exercisable (in shares)	0
Weighted Average Grant Date Fair Value Per Unit
Beginning balance (in dollars per share)	$ 13.12
Granted (in dollars per share)	0
Forfeited and cancelled (in dollars per share)	12.04
Vested (in dollars per share)	15.29
Ending balance (in dollars per share)	12.63	$ 13.12
Exercisable, weighted-average exercise price (in dollars per share)	$ 0
Weighted Average Remaining Contractual Term (Years)
Outstanding	1 year 25 days	1 year 1 month 28 days
Exercisable
Aggregate Intrinsic Value
Beginning balance	$ 15,655
Forfeited/canceled	(458)
Vested	(3,471)
Ending balance	11,726	$ 15,655
Exercisable, aggregate intrinsic value	$ 0

Equity-Based Compensation - S_2

Equity-Based Compensation - Schedule of Restricted Stock Units and Performance Stock Units (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Restricted stock units
Number of Awards
Outstanding at beginning of period (in shares) | shares	1,784,000
Granted (in shares) | shares	2,000
Vested and converted to shares (in shares) | shares	(38,000)
Forfeited/canceled (in shares) | shares	(225,000)
Outstanding at end of period (in shares) | shares	1,523,000
Weighted-Average Grant Date Fair Value
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 6.05
Granted (in dollars per share) | $ / shares	6.09
Vested and converted to shares (in dollars per share) | $ / shares	16.20
Forfeited/canceled (in dollars per share) | $ / shares	6.05
Outstanding at end of period (in dollars per share) | $ / shares	$ 5.80
Performance stock units
Number of Awards
Outstanding at beginning of period (in shares) | shares	1,296,000
Granted (in shares) | shares	5,000
Vested and converted to shares (in shares) | shares	0
Forfeited/canceled (in shares) | shares	(10,000)
Outstanding at end of period (in shares) | shares	1,291,000
Weighted-Average Grant Date Fair Value
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 3.86
Granted (in dollars per share) | $ / shares	4.40
Vested and converted to shares (in dollars per share) | $ / shares	0
Forfeited/canceled (in dollars per share) | $ / shares	3.86
Outstanding at end of period (in dollars per share) | $ / shares	$ 3.86

Equity-Based Compensation - Emp

Equity-Based Compensation - Employee Stock Purchase Plan (Details)	3 Months Ended
	Mar. 31, 2023 shares
Employee stock purchases
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	102,616

Equity-Based Compensation - S_3

Equity-Based Compensation - Summary of Stock Options (Details) - Stock options - Incentive Award Plan - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Number of Stock Options
Beginning balance (in shares)	687,000
Granted (in shares)	0
Forfeited or expired (in shares)	(204,000)
Vested (in shares)	0
Ending balance (in shares)	483,000	687,000
Exercisable (in shares)	62,000
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 4.34
Granted (in dollars per share)	0
Forfeited or expired (in dollars per share)	3.40
Vested (in dollars per share)	0
Ending balance (in dollars per share)	4.73	$ 4.34
Exercisable, weighted-average exercise price (in dollars per share)	8.71
Weighted-Average Exercise Price
Beginning balance (in dollars per share)	8.29
Granted (in dollars per share)	0
Forfeited or expired (in dollars per share)	5.76
Vested (in dollars per share)	0
Ending balance (in dollars per share)	9.35	$ 8.29
Exercisable, weighted-average exercise price (in dollars per share)	$ 17
Weighted Average Remaining Contractual Term (Years)
Outstanding	4 years 11 months 12 days	4 years 11 months 23 days
Aggregate Intrinsic Value
Beginning balance	$ 0
Ending balance	0	$ 0
Exercisable, aggregate intrinsic value	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Loss Carryforwards [Line Items]
Effective tax rate (as a percent)	25%	21.30%
Income tax expense (benefit)	$ 311	$ (878)
Deferred tax liabilities, investment in holdings	44,000
Valuation allowance	$ 26,500
Subsidiaries
Operating Loss Carryforwards [Line Items]
Weighted average ownership interest	66.30%	67%

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Basic and Diluted Net (Loss) Income Per Share and Weighted-Average Common Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 933	$ (3,235)
Less: Net income (loss) attributable to non-controlling interests	9	(1,200)
Net income (loss) attributable to Solo Brands, Inc.	$ 924	$ (2,035)
Denominator:
Weighted average shares of Class A common stock outstanding - basic (in shares)	63,670	63,401
Effect of dilutive securities (in shares)	220	0
Weighted average shares of Class A common stock outstanding - diluted (in shares)	63,890	63,401
Earnings Per Share Reconciliation [Abstract]
Income (loss) per share of Class A common stock outstanding - Basic (in dollars per share)	$ 0.01	$ (0.03)
Income (loss) per share of Class A common stock outstanding - Diluted (in dollars per share)	$ 0.01	$ (0.03)

Net Income (Loss) Per Share - N

Net Income (Loss) Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0.5	0.2
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0.4	0.2