Solo Brands (DTC) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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	Q3
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		57,846,404
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,004,689

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 16,551	$ 23,293
Accounts receivable, net of allowance for credit losses of $2.2 million and $1.5 million	30,743	26,176
Inventory	114,077	132,990
Prepaid expenses and other current assets	23,511	12,639
Total current assets	184,882	195,098
Non-current assets
Property and equipment, net	26,021	15,166
Intangible assets, net	240,697	234,632
Goodwill	405,206	382,658
Operating lease right-of-use assets	32,078	34,259
Other non-current assets	9,976	534
Total non-current assets	713,978	667,249
Total assets	898,860	862,347
Current liabilities
Accounts payable	11,528	11,783
Accrued expenses and other current liabilities	42,219	43,377
Deferred revenue	3,970	6,848
Current portion of long-term debt	5,000	5,000
Total current liabilities	62,717	67,008
Non-current liabilities
Long-term debt, net	160,278	108,383
Deferred tax liability	51,359	82,621
Operating lease liabilities	25,722	29,133
Other non-current liabilities	13,224	205
Total non-current liabilities	250,583	220,342
Commitments and contingencies (Note 1)
Shareholders’ equity
Additional paid-in capital	352,758	358,118
Retained earnings (accumulated deficit)	8,735	5,746
Accumulated other comprehensive income (loss)	(741)	(499)
Treasury stock	(315)	(35)
Equity attributable to the controlling interest	360,528	363,426
Equity attributable to non-controlling interests	225,032	211,571
Total equity	585,560	574,997
Total liabilities and equity	898,860	862,347
Class A Common Stock
Shareholders’ equity
Common stock issued	58	64
Class B Common Stock
Shareholders’ equity
Common stock issued	$ 33	$ 32

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 2.2	$ 1.5
Class A Common Stock
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	468,767,205	475,000,000
Common stock issued (in shares)	57,751,375	63,651,051
Common stock outstanding (in shares)	57,751,375	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)	32,832,755	32,157,983
Common stock outstanding (in shares)	32,832,755	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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 110,324	$ 102,162	$ 329,458	$ 320,384
Cost of goods sold	42,065	37,482	123,725	120,175
Gross profit	68,259	64,680	205,733	200,209
Operating expenses
Selling, general & administrative expenses	61,333	59,489	169,479	174,299
Depreciation and amortization expenses	7,052	6,216	19,579	18,194
Impairment charges	0	0	0	30,589
Other operating expenses	1,199	2,260	3,736	3,580
Total operating expenses	69,584	67,965	192,794	226,662
Income (loss) from operations	(1,325)	(3,285)	12,939	(26,453)
Non-operating (income) expense
Interest expense, net	2,766	1,805	7,542	3,838
Other non-operating (income) expense	(983)	(90)	(6,861)	514
Total non-operating (income) expense	1,783	1,715	681	4,352
Income (loss) before income taxes	(3,108)	(5,000)	12,258	(30,805)
Income tax expense (benefit)	(6,191)	(980)	(3,272)	(3,677)
Net income (loss)	3,083	(4,020)	15,530	(27,128)
Less: net income (loss) attributable to noncontrolling interests	(1,045)	(1,816)	3,054	(10,850)
Net income (loss) attributable to Solo Brands, Inc.	4,128	(2,204)	12,476	(16,278)
Net income (loss) attributable to Solo Brands, Inc.	4,128	(2,204)	12,476	(16,278)
Other comprehensive (loss) income
Foreign currency translation, net of tax	(593)	(21)	(472)	49
Comprehensive (loss) income	2,490	(4,041)	15,058	(27,079)
Less: other comprehensive income (loss) attributable to noncontrolling interests	(214)	(7)	(171)	16
Less: net (loss) income attributable to noncontrolling interests	(1,045)	(1,816)	3,054	(10,850)
Comprehensive (loss) income attributable to Solo Brands, Inc.	$ 3,749	$ (2,218)	$ 12,175	$ (16,245)
Income (loss) per Class A common stock
Basic (in dollars per share)	$ 0.07	$ (0.03)	$ 0.20	$ (0.26)
Diluted (in dollars per share)	$ 0.07	$ (0.03)	$ 0.20	$ (0.26)
Weighted-average Class A common stock outstanding
Basic (in shares)	57,883	63,470	61,370	63,429
Diluted (in shares)	58,368	63,470	61,581	63,429

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 15,530	$ (27,128)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Amortization of intangible assets	16,263	15,748
Equity-based compensation	14,714	13,213
Operating lease right-of-use assets expense	6,061	4,891
Depreciation	3,862	2,446
Deferred income taxes	(10,924)	(6,592)
Changes in accounts receivable reserves	1,312	1,262
Amortization of debt issuance costs	645	645
Loss (gain) on disposal of property and equipment	186	(8)
Impairment charges	0	30,589
Changes in assets and liabilities
Accounts receivable	(5,472)	(2,003)
Inventory	24,607	(64,244)
Prepaid expenses and other current assets	(10,838)	(9,342)
Accounts payable	(891)	11,198
Accrued expenses and other current liabilities	(5,370)	(2,151)
Deferred revenue	(2,878)	(96)
Operating lease ROU assets and liabilities	(6,799)	(3,989)
Other non-current assets and liabilities	(844)	231
Net cash (used in) provided by operating activities	39,164	(35,330)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(6,943)	(7,512)
Payments of contingent consideration	(9,386)	0
Acquisitions, net of cash acquired	(34,620)	(774)
Net cash (used in) provided by investing activities	(50,949)	(8,286)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term debt	60,000	45,000
Repayments of long-term debt	(8,750)	(1,875)
Common stock repurchases	(36,957)	0
Distributions to non-controlling interests	(8,944)	(7,275)
Stock issued under employee stock purchase plan	106	246
Taxes paid related to net share settlement of equity awards	(42)	0
Net cash (used in) provided by financing activities	5,413	36,096
Effect of exchange rate changes on cash	(370)	(403)
Net change in cash and cash equivalents	(6,742)	(7,923)
Cash and cash equivalents balance, beginning of period	23,293	25,101
Cash and cash equivalents balance, end of period	16,551	17,178
SUPPLEMENTAL NONCASH INVESTING AND FINANCING DISCLOSURES:
Treasury stock retirements	31,164	0
Re-issuance of treasury stock	$ 5,342	$ 0

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - USD ($) $ in Thousands	Total	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Non-controlling Interest	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Beginning balance (in shares) at Dec. 31, 2021								63,397,000		31,179,000
Beginning balance at Dec. 31, 2021	$ 574,171	$ 350,088	$ 10,691	$ 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)								4,000		90,000
Vested equity-based compensation and re-allocation of ownership percentage	0	(380)				380
Ending balance (in shares) at Mar. 31, 2022								63,401,000		31,269,000
Ending balance at Mar. 31, 2022	571,107	353,008	8,656	22		209,327		$ 63		$ 31
Beginning balance (in shares) at Dec. 31, 2021								63,397,000		31,179,000
Beginning balance at Dec. 31, 2021	574,171	350,088	10,691	6		213,292		$ 63		$ 31
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(27,128)
Treasury stock retirement	0
Ending balance (in shares) at Sep. 30, 2022								63,473,000		31,436,000
Ending balance at Sep. 30, 2022	551,779	356,104	(5,587)	39		201,129		$ 63		$ 31
Beginning balance (in shares) at Mar. 31, 2022								63,401,000		31,269,000
Beginning balance at Mar. 31, 2022	571,107	353,008	8,656	22		209,327		$ 63		$ 31
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(19,873)		(12,039)			(7,834)
Equity-based compensation	3,427	2,293				1,134
Other comprehensive income (loss)	46			31		15
Tax distributions to non-controlling interests	(251)					(251)
Employee stock purchase plan (in shares)								60,000
Employee stock purchase plan	246	246
Vested equity-based compensation and re-allocation of ownership percentage (in shares)										94,000
Vested equity-based compensation and re-allocation of ownership percentage	0	(1,726)				1,726
Ending balance (in shares) at Jun. 30, 2022								63,461,000		31,363,000
Ending balance at Jun. 30, 2022	554,702	353,821	(3,383)	53		204,117		$ 63		$ 31
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,020)		(2,204)			(1,816)
Equity-based compensation	3,824	2,710				1,114
Other comprehensive income (loss)	(21)			(14)		(7)
Tax distributions to non-controlling interests	(2,706)					(2,706)
Vested equity-based compensation and re-allocation of ownership percentage (in shares)								12,000		73,000
Vested equity-based compensation and re-allocation of ownership percentage	0	(427)				427
Ending balance (in shares) at Sep. 30, 2022								63,473,000		31,436,000
Ending balance at Sep. 30, 2022	551,779	356,104	(5,587)	39		201,129		$ 63		$ 31
Beginning balance (in shares) at Dec. 31, 2022							63,651,051	63,651,000	32,157,983	32,158,000
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)					(6,178)
Employee stock purchase plan	0
Surrender of stock to settle taxes on equity awards	0
Vested equity-based compensation and re-allocation of ownership percentage (in shares)								38,000		227,000
Vested equity-based compensation and re-allocation of ownership percentage	0	(829)				829
Ending balance (in shares) at Mar. 31, 2023								63,689,000		32,385,000
Ending balance at Mar. 31, 2023	574,620	360,992	6,670	(429)	(35)	207,326		$ 64		$ 32
Beginning balance (in shares) at Dec. 31, 2022							63,651,051	63,651,000	32,157,983	32,158,000
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)	15,530
Treasury stock retirement	(31,164)
Ending balance (in shares) at Sep. 30, 2023							57,751,375	57,751,000	32,832,755	32,833,000
Ending balance at Sep. 30, 2023	585,560	352,758	8,735	(741)	(315)	225,032		$ 58		$ 33
Beginning balance (in shares) at Mar. 31, 2023								63,689,000		32,385,000
Beginning balance at Mar. 31, 2023	574,620	360,992	6,670	(429)	(35)	207,326		$ 64		$ 32
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	11,514		7,424			4,090
Equity-based compensation	6,500	5,345				1,155
Other comprehensive income (loss)	167			117		50
Tax distributions to non-controlling interests	(1,225)					(1,225)
Employee stock purchase plan (in shares)								36,000
Employee stock purchase plan	106	106
Common stock repurchase (in shares)								(5,639,000)
Common stock repurchase	(8,591)		19,888		(28,479)
Treasury stock retirement	0		(28,022)		28,028			$ (6)
Surrender of stock to settle taxes on equity awards	52	52
Vested equity-based compensation and re-allocation of ownership percentage (in shares)								216,000		225,000
Vested equity-based compensation and re-allocation of ownership percentage	2	(13,115)	0			13,116				$ 1
Ending balance (in shares) at Jun. 30, 2023								58,302,000		32,610,000
Ending balance at Jun. 30, 2023	583,145	353,380	5,960	(312)	(486)	224,512		$ 58		$ 33
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3,083		4,128			(1,045)
Equity-based compensation	2,224	1,083				1,141
Other comprehensive income (loss)	(713)			(429)		(284)
Tax distributions to non-controlling interests	(1,540)					(1,540)
Employee stock purchase plan	0
Common stock repurchase (in shares)								(1,696,000)
Common stock repurchase	(6,430)	0	1,783		(8,213)
Re-issuance of treasury stock (in shares)								1,068,000
Re-issuance of treasury stock	5,887	545			5,342
Treasury stock retirement	0		(3,136)		3,136
Surrender of stock to settle taxes on equity awards (in shares)								77,000
Surrender of stock to settle taxes on equity awards	(94)				(94)
Vested equity-based compensation and re-allocation of ownership percentage (in shares)										223,000
Vested equity-based compensation and re-allocation of ownership percentage	(2)	(2,250)				2,248
Ending balance (in shares) at Sep. 30, 2023							57,751,375	57,751,000	32,832,755	32,833,000
Ending balance at Sep. 30, 2023	$ 585,560	$ 352,758	$ 8,735	$ (741)	$ (315)	$ 225,032		$ 58		$ 33

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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. Certain prior period amounts have been conformed to the current period’s presentation. 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 receivable, net consist of amounts due to the Company from retailers and direct-to-corporate customers. Accounts receivable, net are recorded at invoiced amounts, less contractual allowances for trade terms, sales incentive programs, and discounts. The Company maintains an allowance for expected credit 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. Business Combinations The Company applies the acquisition method to all transactions and other events in which the Company obtains control over one or more other businesses. Assets acquired and liabilities assumed are measured at fair value as of the acquisition date. Liabilities related to contingent consideration are recognized at the acquisition date and re-measured at fair value in each subsequent reporting period. Goodwill is recognized if the consideration transferred exceeds the fair value of the net assets acquired. 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 September 30, 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. 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. Due to the forthcoming discontinuation of LIBOR and under the relief provided by Topic 848, the Company modified the terms of its Revolving Credit Facility and Term Loan (as defined in the Company’s 2022 Form 10-K) by replacing references to LIBOR with references to the adjusted secured overnight financing rate (“SOFR”). The adoption of Topic 848 and the related modification to the agreements did not have a significant impact on the Company’s consolidated financial statements and disclosures. The Company did not have any other agreements or transactions that would be impacted by the adoption of Topic 848. Recently Issued Accounting Pronouncements - Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires that an acquirer recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance is effective for annual periods beginning after December 15, 2023, including interim periods therein, with early adoption permitted. The guidance will be applied prospectively to acquisitions occurring on or after the effective date. The Company will continue to evaluate the impact of this guidance, which will depend on the contract assets and liabilities acquired in future business combinations.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company primarily engages in (1) direct-to-consumer (“DTC”) 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net sales by channel Direct-to-consumer $ 76,337 $ 86,306 $ 230,737 $ 262,632 Wholesale 33,987 15,856 98,721 57,752 Net sales $ 110,324 $ 102,162 $ 329,458 $ 320,384

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions The following transactions were accounted for under the acquisition method of accounting for business combinations. Sconberg, LLC On May 1, 2023, Solo Brands, LLC, a wholly-owned subsidiary of Solo Stove Holdings, LLC (“Holdings”), entered into an Equity Purchase Agreement to acquire 100% of the voting equity interests in Sconberg, LLC (“TerraFlame”), that constitute a business for purposes of Accounting Standards Codification (“ASC”) 805, Business Combinations, for total purchase consideration of $13.2 million, of which $5.5 million was cash paid at closing. The remainder of the consideration, an earnout and post-closing payment liabilities of $7.7 million, was recorded as contingent consideration, which are tied to TerraFlame achieving certain specified profitability metrics. The total purchase consideration was primarily allocated to $5.6 million of intangible assets, $4.3 million of property and equipment and $1.9 million of goodwill. The Company acquired TerraFlame to increase its brand and market share in the overall outdoor activities industry and penetrate the indoor fire and decor industry, as TerraFlame manufactures, markets, and sells fire features for both outdoor and indoor use. As part of the acquisition, the Company is required to make the earnout and post-closing payments that are contingent on the future performance of TerraFlame. The fair value of the earnout was derived using a Monte Carlo simulation. It was determined that the mean of $2.6 million was the most reasonable estimate of fair value as of the acquisition date, with the simulation producing a range of $0.0 million to $2.8 million. The fair value of the post-closing payment of $5.1 million was derived using a threshold and cap (capped call) structure. Due to the valuation model chosen, there was no applicable range produced. These contingent considerations represent stand-alone liabilities that are measured at fair value on a recurring basis and are considered a level 3 estimate. See Note 2, Significant Accounting Policies in our 2022 Form 10-K for additional information about the fair value framework and the levels within. The earnout contingent consideration is included in accrued expenses and other current liabilities and the post-closing payment contingent consideration is included in other non-current liabilities within the consolidated balance sheets (unaudited). Transaction related expenses incurred to date as a result of the acquisition of TerraFlame amounted to $0.5 million and are recorded in other operating expenses within the consolidated statements of operations and comprehensive income (loss) (unaudited). The excess enterprise value of TerraFlame over the estimated fair value of assets and liabilities assumed was recorded as goodwill. Goodwill was recorded to reflect the excess purchase consideration over net assets acquired, which represents the value that is expected to be achieved from expanding the Company’s product offerings and other synergies related to the acquisition of TerraFlame. The primary factor that contributed to the recognition of goodwill was the expected future revenue growth of TerraFlame. The Company accounted for the acquisition of TerraFlame using the acquisition method of accounting in accordance with ASC 805. This required that assets acquired and liabilities assumed be measured at fair value. The Company determined, using level 3 inputs, the fair value of certain assets and liabilities including fixed assets, inventory and intangible assets. Fixed assets and inventory were fair valued using a mix of cost, comparative sales and market approaches. Specific to intangible assets, customer related intangibles were valued using an excess earnings method and tradename was valued using the relief from royalty method. The fair value of the assets acquired and liabilities assumed have been prepared on a preliminary basis with information currently available, and are subject to change. As of September 30, 2023, the purchase price accounting has not been finalized; however, the Company will complete the purchase price accounting within one year from the acquisition date as required by ASC 805. Subsequent to the acquisition date and as required by ASC 805, the contingent consideration recorded as part of the acquisition was remeasured as of September 30, 2023. As a result of this remeasurement, the earnout contingent consideration was reduced by $2.6 million and the change to the post-closing payment contingent consideration was negligible. The impacts of the reductions were recorded in selling, general and administrative expenses within the consolidated statements of operations and comprehensive income (loss) (unaudited) as of September 30, 2023. IcyBreeze Cooling, LLC On July 1, 2023, Solo Brands, LLC entered into an Equity Purchase Agreement to acquire 100% of the voting equity interests in IcyBreeze Cooling, LLC (“IcyBreeze”), which constitutes a business for purposes of ASC 805, for total purchase consideration of $52.1 million. Cash paid at closing was $30.0 million, net of $7.4 million in cash acquired. The remainder of the consideration, an earnout of $14.9 million, was recorded as contingent consideration, which is tied to IcyBreeze achieving certain specified profitability metrics. The total purchase consideration was primarily allocated to $16.1 million of intangible assets, $4.4 million of inventory, and $4.2 million of property and equipment, with the remainder primarily being $20.7 million of goodwill. The Company acquired IcyBreeze to pair a seasonally complimentary in-demand product in the outdoor activities industry to its current product portfolio, as IcyBreeze manufactures, markets, and sells portable air-conditioning products. As part of the acquisition, the Company is required to make earnout payments that are contingent on the future performance of IcyBreeze. The fair value of the earnout was derived using a Monte Carlo simulation. It was determined the mean of $14.9 million was the most reasonable estimate of fair value as of the acquisition date. These contingent considerations represent stand-alone liabilities that are measured at fair value on a recurring basis and are considered a level 3 estimate. See Note 2, Significant Accounting Policies in our 2022 Form 10-K for additional information about the fair value framework and the levels within. The current portion of the earnout contingent consideration is included in accrued expenses and other current liabilities and the long-term portion of the earnout contingent consideration is included in other non-current liabilities within the consolidated balance sheets (unaudited). Transaction related expenses incurred to date as a result of the acquisition of IcyBreeze amounted to $0.4 million and are recorded in other operating expenses within the consolidated statements of operations and comprehensive income (loss) (unaudited). The excess enterprise value of IcyBreeze over the estimated fair value of assets and liabilities assumed was recorded as goodwill. Goodwill was recorded to reflect the excess purchase consideration over net assets acquired, which represents the value that is expected to be achieved from expanding the Company’s product offerings and other synergies related to the acquisition of IcyBreeze. The primary factor that contributed to the recognition of goodwill was the expected future revenue growth of IcyBreeze. The Company accounted for the acquisition of IcyBreeze using the acquisition method of accounting in accordance with ASC 805. This required that assets acquired and liabilities assumed be measured at fair value. The Company determined, using level 3 inputs, the fair value of certain assets and liabilities including fixed assets, inventory and intangible assets. Fixed assets and inventory were fair valued using a mix of cost, comparative sales and market approaches. Specific to intangible assets, tradename and technology were valued using the relief from royalty method. The fair value of the assets acquired and liabilities assumed have been prepared on a preliminary basis with information currently available, and are subject to change. As of September 30, 2023, the purchase price accounting has not been finalized; however, the Company will complete the purchase price accounting within one year from the acquisition date as required by ASC 805. On July 11, 2023, the parties to the acquisition, Solo Brands, LLC and IcyBreeze, entered into that certain First Amendment to Equity Purchase Agreement, that, among other things, revised the terms of the contingent consideration, resulting in an acceleration of the payment of the contingent consideration to the effective date for aggregate consideration of $15.3 million. The difference between the fair value of the contingent consideration of $14.9 million and the payment amount of $15.3 million was recorded in selling, general and administrative expenses on the consolidated statements of operations and comprehensive income (loss) (unaudited) as of September 30, 2023. Net sales for TerraFlame and IcyBreeze for the three and nine months ended September 30, 2023 were $8.5 million and $9.6 million, respectively, and net income (loss) for the same periods was $2.2 million and $2.1 million, respectively.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following: September 30, 2023 December 31, 2022 Finished products on hand $ 94,532 $ 112,126 Finished products in transit 15,772 16,589 Raw materials 3,773 4,275 Inventory $ 114,077 $ 132,990

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net consisted of the following: September 30, 2023 December 31, 2022 Machinery $ 14,800 $ 8,940 Leasehold improvements 8,376 6,959 Buildings 4,421 — Computer, software, and other equipment 2,868 2,003 Furniture and fixtures 2,195 1,463 Land 1,090 — Construction in progress 342 67 Property and equipment, gross 34,092 19,432 Accumulated depreciation (8,071) (4,266) Property and equipment, net $ 26,021 $ 15,166 Depreciation expense was $1.4 million and $3.8 million for the three and nine months ended September 30, 2023, compared to $0.9 million and $2.4 million for the three and nine months ended September 30, 2022, respectively. Depreciation expense is recorded to depreciation and amortization expenses on the consolidated statements of operations and comprehensive income (loss) (unaudited).

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, net	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, net	Goodwill and Intangible Assets, net Goodwill In the third quarter of 2023, the Company identified a triggering event indicating the fair value of one or more of the Company’s reporting units more likely than not did not exceed their carrying values. The triggering event was an adverse change in the plan for each brand approved by the board of directors, resulting in a lower near-term forecast of future operating results. As a result, the Company performed an interim quantitative goodwill impairment test for all of its reporting units and determined that the fair value exceeded the carrying value for each reporting unit. As such, the interim quantitative test did not result in a goodwill impairment for the Company’s reporting units. The carrying value of goodwill was as follows: Balance, December 31, 2022 382,658 Acquisitions 22,548 Balance, September 30, 2023 405,206 Intangible Assets, net Intangible assets consisted of the following: September 30, 2023 December 31, 2022 Gross carrying value Brand $ 205,614 $ 196,114 Trademark 33,566 33,566 Customer relationships 31,805 28,605 Developed technology 17,871 17,871 Patents 12,511 2,883 Intangible assets, gross 301,367 279,039 Accumulated amortization and impairments Brand (39,118) (29,146) Trademark (1) (7,747) (5,957) Customer relationships (6,611) (4,542) Developed technology (6,170) (4,255) Patents (1,024) (507) Accumulated amortization, gross (60,670) (44,407) Intangible assets, net $ 240,697 $ 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 Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 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: September 30, 2023 December 31, 2022 Inventory 9,803 7,543 Leases 7,734 6,889 Payroll 6,995 6,999 Non-income taxes 3,913 6,163 Allowance for sales returns 3,642 3,937 Marketing 3,610 451 Income taxes 2,742 5,490 Shipping costs 1,077 3,607 Other 2,703 2,298 Accrued expenses and other current liabilities $ 42,219 $ 43,377

Long-Term Debt, Net

Long-Term Debt, Net	9 Months Ended
	Sep. 30, 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 September 30, 2023 September 30, 2023 December 31, 2022 Term loan 6.44 % $ 92,500 $ 96,250 Revolving credit facility 6.50 % 75,000 20,000 Unamortized debt issuance costs (2,222) (2,867) Total debt, net of debt issuance costs 165,278 113,383 Less: current portion of long-term debt 5,000 5,000 Long-term debt, net $ 160,278 $ 108,383 Long-term debt, net approximates 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. The Company was in compliance with all covenants under all credit arrangements as of September 30, 2023.

Leases

Leases	9 Months Ended
	Sep. 30, 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 consolidated balance sheets (unaudited): Classification in Consolidated Balance Sheets September 30, 2023 December 31, 2022 Right-of-use assets, net Operating leases Operating lease right-of-use assets $ 32,078 $ 34,259 Finance leases Other non-current assets 851 — Total right-of-use assets, net $ 32,929 $ 34,259 Current lease liabilities Operating leases Accrued expenses and other current liabilities $ 7,590 $ 6,889 Finance leases Accrued expenses and other current liabilities 144 — Long-term lease liabilities Operating leases Operating lease liabilities 25,722 29,133 Finance leases Other non-current liabilities 486 — Total lease liabilities $ 33,942 $ 36,022 The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease right-of-use expense $ 2,079 $ 1,861 $ 6,061 $ 4,891 Finance lease expense: Amortization of assets 48 — 48 — Interest on lease liabilities 23 — 23 — Total finance lease expense 71 — 71 — Variable and short-term lease expense 543 481 1,843 1,092 Total lease expense $ 2,693 $ 2,342 $ 7,975 $ 5,983 The weighted average remaining lease terms and discount rates were as follows: September 30, 2023 December 31, 2022 Weighted average remaining lease term (years) Operating leases 4.41 5.05 Finance leases 4.33 — Weighted average discount rate Operating leases 2.95 % 2.66 % Finance leases 6.15 % — % Cash flow and other information related to leases is included in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cash outflows for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 2,048 $ 1,404 $ 5,991 $ 3,714 Lease right of use assets obtained in exchange for lease obligations Operating leases — 12,044 2,532 15,287 Financing leases 899 — 899 — Future maturities of lease liabilities as of September 30, 2023 were as follows: Years Ending December 31, Operating Leases Finance Leases 2023 (remaining three months) $ 2,140 $ — 2024 8,562 182 2025 8,628 182 2026 7,216 182 2027 5,283 182 Thereafter 4,108 — Total lease payments 35,937 728 Less: imputed interest 2,625 98 Present value of lease liabilities $ 33,312 $ 630
Leases	Leases The following table presents the components of the total leased assets and lease liabilities and their classification in the Company's consolidated balance sheets (unaudited): Classification in Consolidated Balance Sheets September 30, 2023 December 31, 2022 Right-of-use assets, net Operating leases Operating lease right-of-use assets $ 32,078 $ 34,259 Finance leases Other non-current assets 851 — Total right-of-use assets, net $ 32,929 $ 34,259 Current lease liabilities Operating leases Accrued expenses and other current liabilities $ 7,590 $ 6,889 Finance leases Accrued expenses and other current liabilities 144 — Long-term lease liabilities Operating leases Operating lease liabilities 25,722 29,133 Finance leases Other non-current liabilities 486 — Total lease liabilities $ 33,942 $ 36,022 The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease right-of-use expense $ 2,079 $ 1,861 $ 6,061 $ 4,891 Finance lease expense: Amortization of assets 48 — 48 — Interest on lease liabilities 23 — 23 — Total finance lease expense 71 — 71 — Variable and short-term lease expense 543 481 1,843 1,092 Total lease expense $ 2,693 $ 2,342 $ 7,975 $ 5,983 The weighted average remaining lease terms and discount rates were as follows: September 30, 2023 December 31, 2022 Weighted average remaining lease term (years) Operating leases 4.41 5.05 Finance leases 4.33 — Weighted average discount rate Operating leases 2.95 % 2.66 % Finance leases 6.15 % — % Cash flow and other information related to leases is included in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cash outflows for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 2,048 $ 1,404 $ 5,991 $ 3,714 Lease right of use assets obtained in exchange for lease obligations Operating leases — 12,044 2,532 15,287 Financing leases 899 — 899 — Future maturities of lease liabilities as of September 30, 2023 were as follows: Years Ending December 31, Operating Leases Finance Leases 2023 (remaining three months) $ 2,140 $ — 2024 8,562 182 2025 8,628 182 2026 7,216 182 2027 5,283 182 Thereafter 4,108 — Total lease payments 35,937 728 Less: imputed interest 2,625 98 Present value of lease liabilities $ 33,312 $ 630

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Common units $ 3,068 $ 3,368 $ 9,441 $ 10,241 Restricted stock units 1,037 899 2,965 2,507 Performance stock units 690 — 1,891 — Stock options 169 59 417 435 Employee stock purchase plan — — 52 30 Total equity-based compensation $ 4,964 $ 4,326 $ 14,766 $ 13,213 Common Units A summary of the common units was 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 Forfeited/canceled (63) 12.00 (756) Vested (675) 14.40 (9,717) Unvested, September 30, 2023 455 11.38 0.43 5,182 Exercisable, September 30, 2023 (1) — $ — $ — (1) Note there were performance and service-based units that vested by September 30, 2023. However, none of such units are exercisable under 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 361 4.80 Vested and converted to shares (334) 8.40 Forfeited/canceled (336) 6.73 Outstanding, September 30, 2023 1,475 $ 5.06 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 150 5.41 Forfeited/canceled (49) 3.97 Outstanding, September 30, 2023 1,397 $ 4.02 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 $ — Forfeited or expired (217) 3.72 6.44 — Vested (126) 3.72 8.75 Outstanding, September 30, 2023 344 $ 4.70 9.28 4.42 — Exercisable, September 30, 2023 (1) 188 $ 5.36 $ 11.46 — $ 3.3 (1) The aggregate intrinsic value represents only those vested options that have a weighted-average exercise price below the closing Class A common stock price at the end of each period. Employee Stock Purchase Plan As of September 30, 2023, 139,032 shares of Class A common stock have been issued under the Solo Brands, Inc. 2021 Employee Stock Purchase Plan.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Provision for Income Taxes The effective income tax rate was 199.2% and (26.7)% for the three and nine months ended September 30, 2023, compared to 19.6% and 11.9% for the corresponding periods in 2022. The change for the three and nine months ended September 30, 2023 was primarily due to the current quarter release of the Company’s remaining valuation allowance against deferred tax assets. The three months ended September 30, 2023 effective tax rate of 199.2% is due to the income tax benefit on the current quarter valuation allowance release as compared to the small pre-tax loss for the three months ended September 30, 2023. Income tax benefit for the three and nine months ended September 30, 2023 was $6.2 million and $3.3 million, respectively, compared to $1.0 million and $3.7 million in the corresponding periods for 2022, respectively. Income taxes represent federal, state, and local income taxes on the Company’s allocable share of taxable income of 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 63.8% and 64.8% for the three and nine months ended September 30, 2023, respectively, and 67.0% for the three and nine months ended September 30, 2022. Deferred Tax Assets and Liabilities As of September 30, 2023, the total deferred tax liability related to the basis difference in the Company's investment in Holdings was $40.5 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. Previously, a valuation allowance was established against the deferred tax asset to which this portion relates. As of September 30, 2023, the Company concluded, based on the weight of all available positive and negative evidence, that all of the deferred tax assets are more likely than not to be realized. As a result, $6.7 million of the remaining valuation allowance on the partnership deferred tax assets was released in the quarter ended September 30, 2023. The remaining $0.3 million of the valuation allowance will be released through the effective tax rate during the quarter ending December 31, 2023.The Company’s valuation allowance previously decreased by $19.9 million during the six months ended June 30, 2023 primarily due to a remeasurement of its investment in partnership as a result of the secondary offering completed in May 2023. During the three and nine months ended September 30, 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 September 30, 2023, the Company concluded, based on the weight of all available positive and negative evidence, that all of its deferred tax assets are more likely than not to be realized. During the nine months ended September 30, 2023, the Company received a one-time refund payment of $5.1 million related to COVID-19 era employment tax, which is recorded to other non-operating (income) expense on the consolidated statements of operations and comprehensive income (loss) (unaudited).

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net income (loss) $ 3,083 $ (4,020) $ 15,530 $ (27,128) Less: Net income (loss) attributable to non-controlling interests (1,045) (1,816) 3,054 (10,850) Net income (loss) attributable to Solo Brands, Inc. $ 4,128 $ (2,204) $ 12,476 $ (16,278) Weighted average shares of Class A common stock outstanding - basic 57,883 63,470 61,370 63,429 Effect of dilutive securities 485 — 211 — Weighted average shares of Class A common stock outstanding - diluted 58,368 63,470 61,581 63,429 Net income (loss) per share of Class A common stock outstanding - basic $ 0.07 $ (0.03) $ 0.20 $ (0.26) Net income (loss) per share of Class A common stock outstanding - diluted $ 0.07 $ (0.03) $ 0.20 $ (0.26) During the three months ended September 30, 2023 and 2022, 0.2 million and 0.6 million options and 0.4 million and 1.2 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. During the nine months ended September 30, 2023 and 2022, 0.3 million and 0.6 million options and 0.3 million and 1.2 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.

Equity

Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Equity	Equity Class A Common Stock During the three months ended September 30, 2023 , the Board of Directors of the Company approved the repurchase of an aggregate of 627,286 shares of Class A common stock. During the nine months ended September 30, 2023 , pursuant to the Stock Purchase Agreements, dated as of May 10, 2023 and July 12, 2023, by the Company and the selling stockholders party thereto, the Company repurchased 5,605,509 and 627,286 shares of its Class A common stock for $28.0 million and $3.1 million, respectively, which shares were subsequently retired in accordance with resolutions of the Board of Directors’, which is a classified as a non-cash financing activity within the statements of cash flows. As of September 30, 2023, the Company has 468,767,205, shares of Class A common stock, par value 0.001 per share, authorized, a decrease from the balance as of December 31, 2022 of 475,000,000, as a result of the repurchase and retirement of an aggregate of 6,232,795 shares in the nine months ended 2023. Holders of Class A common stock are entitled to one vote per share on all matters presented to the stockholders in general. In the event of liquidation, dissolution or winding up, each holder of Class A common stock will be entitled to a pro rata distribution of any assets available for distribution to common stockholders.

Barter Arrangements

Barter Arrangements	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Barter Arrangements	Barter Arrangements In the third quarter of 2023, the Company entered into a trade credit agreement with a third-party vendor, whereby the Company provided inventory in exchange for trade credits to be used for purchases of media advertising with the third-party provider. The Company exchanged $7.2 million of inventory for trade credits during the three and nine month periods ended September 30, 2023. As of September 30, 2023, the Company had fully recognized the $7.2 million as a part of net sales. As of September 30, 2023, The Company had $7.2 million of unused trade credits remaining, which are included in other non-current assets on the consolidated balance sheets (unaudited). The Company accounts for barter transactions under ASC 606. Barter transactions with commercial substance are recorded at the estimated fair value of the products exchanged, unless the products and/or services received have a more readily determinable estimated fair value. Revenue associated with barter transactions is recorded upon shipment of the inventory consistent with the Company’s standard shipping terms.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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. Certain prior period amounts have been conformed to the current period’s presentation.
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 receivable, net consist of amounts due to the Company from retailers and direct-to-corporate customers. Accounts receivable, net are recorded at invoiced amounts, less contractual allowances for trade terms, sales incentive programs, and discounts. The Company maintains an allowance for expected credit 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.
Business Combinations	The Company applies the acquisition method to all transactions and other events in which the Company obtains control over one or more other businesses. Assets acquired and liabilities assumed are measured at fair value as of the acquisition date. Liabilities related to contingent consideration are recognized at the acquisition date and re-measured at fair value in each subsequent reporting period. Goodwill is recognized if the consideration transferred exceeds the fair value of the net assets acquired.
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 September 30, 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. 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. Due to the forthcoming discontinuation of LIBOR and under the relief provided by Topic 848, the Company modified the terms of its Revolving Credit Facility and Term Loan (as defined in the Company’s 2022 Form 10-K) by replacing references to LIBOR with references to the adjusted secured overnight financing rate (“SOFR”). The adoption of Topic 848 and the related modification to the agreements did not have a significant impact on the Company’s consolidated financial statements and disclosures. The Company did not have any other agreements or transactions that would be impacted by the adoption of Topic 848. Recently Issued Accounting Pronouncements - Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires that an acquirer recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance is effective for annual periods beginning after December 15, 2023, including interim periods therein, with early adoption permitted. The guidance will be applied prospectively to acquisitions occurring on or after the effective date. The Company will continue to evaluate the impact of this guidance, which will depend on the contract assets and liabilities acquired in future business combinations.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Net Sales	The following table disaggregates net sales by channel: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net sales by channel Direct-to-consumer $ 76,337 $ 86,306 $ 230,737 $ 262,632 Wholesale 33,987 15,856 98,721 57,752 Net sales $ 110,324 $ 102,162 $ 329,458 $ 320,384

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following: September 30, 2023 December 31, 2022 Finished products on hand $ 94,532 $ 112,126 Finished products in transit 15,772 16,589 Raw materials 3,773 4,275 Inventory $ 114,077 $ 132,990

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, net	Property and equipment, net consisted of the following: September 30, 2023 December 31, 2022 Machinery $ 14,800 $ 8,940 Leasehold improvements 8,376 6,959 Buildings 4,421 — Computer, software, and other equipment 2,868 2,003 Furniture and fixtures 2,195 1,463 Land 1,090 — Construction in progress 342 67 Property and equipment, gross 34,092 19,432 Accumulated depreciation (8,071) (4,266) Property and equipment, net $ 26,021 $ 15,166

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, net (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of the Carrying Value of Goodwill	The carrying value of goodwill was as follows: Balance, December 31, 2022 382,658 Acquisitions 22,548 Balance, September 30, 2023 405,206
Schedule of Intangible Assets	Intangible assets consisted of the following: September 30, 2023 December 31, 2022 Gross carrying value Brand $ 205,614 $ 196,114 Trademark 33,566 33,566 Customer relationships 31,805 28,605 Developed technology 17,871 17,871 Patents 12,511 2,883 Intangible assets, gross 301,367 279,039 Accumulated amortization and impairments Brand (39,118) (29,146) Trademark (1) (7,747) (5,957) Customer relationships (6,611) (4,542) Developed technology (6,170) (4,255) Patents (1,024) (507) Accumulated amortization, gross (60,670) (44,407) Intangible assets, net $ 240,697 $ 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)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Significant accrued expenses and other current liabilities were as follows: September 30, 2023 December 31, 2022 Inventory 9,803 7,543 Leases 7,734 6,889 Payroll 6,995 6,999 Non-income taxes 3,913 6,163 Allowance for sales returns 3,642 3,937 Marketing 3,610 451 Income taxes 2,742 5,490 Shipping costs 1,077 3,607 Other 2,703 2,298 Accrued expenses and other current liabilities $ 42,219 $ 43,377

Long-Term Debt, Net (Tables)

Long-Term Debt, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt, net consisted of the following: Weighted-Average Interest Rate at September 30, 2023 September 30, 2023 December 31, 2022 Term loan 6.44 % $ 92,500 $ 96,250 Revolving credit facility 6.50 % 75,000 20,000 Unamortized debt issuance costs (2,222) (2,867) Total debt, net of debt issuance costs 165,278 113,383 Less: current portion of long-term debt 5,000 5,000 Long-term debt, net $ 160,278 $ 108,383

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 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 consolidated balance sheets (unaudited): Classification in Consolidated Balance Sheets September 30, 2023 December 31, 2022 Right-of-use assets, net Operating leases Operating lease right-of-use assets $ 32,078 $ 34,259 Finance leases Other non-current assets 851 — Total right-of-use assets, net $ 32,929 $ 34,259 Current lease liabilities Operating leases Accrued expenses and other current liabilities $ 7,590 $ 6,889 Finance leases Accrued expenses and other current liabilities 144 — Long-term lease liabilities Operating leases Operating lease liabilities 25,722 29,133 Finance leases Other non-current liabilities 486 — Total lease liabilities $ 33,942 $ 36,022
Schedule of Components of Lease Expense	The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease right-of-use expense $ 2,079 $ 1,861 $ 6,061 $ 4,891 Finance lease expense: Amortization of assets 48 — 48 — Interest on lease liabilities 23 — 23 — Total finance lease expense 71 — 71 — Variable and short-term lease expense 543 481 1,843 1,092 Total lease expense $ 2,693 $ 2,342 $ 7,975 $ 5,983 The weighted average remaining lease terms and discount rates were as follows: September 30, 2023 December 31, 2022 Weighted average remaining lease term (years) Operating leases 4.41 5.05 Finance leases 4.33 — Weighted average discount rate Operating leases 2.95 % 2.66 % Finance leases 6.15 % — % Cash flow and other information related to leases is included in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cash outflows for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 2,048 $ 1,404 $ 5,991 $ 3,714 Lease right of use assets obtained in exchange for lease obligations Operating leases — 12,044 2,532 15,287 Financing leases 899 — 899 —
Schedule of Future Maturities of Operating Lease Liabilities	Future maturities of lease liabilities as of September 30, 2023 were as follows: Years Ending December 31, Operating Leases Finance Leases 2023 (remaining three months) $ 2,140 $ — 2024 8,562 182 2025 8,628 182 2026 7,216 182 2027 5,283 182 Thereafter 4,108 — Total lease payments 35,937 728 Less: imputed interest 2,625 98 Present value of lease liabilities $ 33,312 $ 630
Schedule of Future Maturities of Finance Lease Liabilities	Future maturities of lease liabilities as of September 30, 2023 were as follows: Years Ending December 31, Operating Leases Finance Leases 2023 (remaining three months) $ 2,140 $ — 2024 8,562 182 2025 8,628 182 2026 7,216 182 2027 5,283 182 Thereafter 4,108 — Total lease payments 35,937 728 Less: imputed interest 2,625 98 Present value of lease liabilities $ 33,312 $ 630

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Common units $ 3,068 $ 3,368 $ 9,441 $ 10,241 Restricted stock units 1,037 899 2,965 2,507 Performance stock units 690 — 1,891 — Stock options 169 59 417 435 Employee stock purchase plan — — 52 30 Total equity-based compensation $ 4,964 $ 4,326 $ 14,766 $ 13,213
Schedule of Common Units and Stock Options Activity	A summary of the common units was 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 Forfeited/canceled (63) 12.00 (756) Vested (675) 14.40 (9,717) Unvested, September 30, 2023 455 11.38 0.43 5,182 Exercisable, September 30, 2023 (1) — $ — $ — (1) Note there were performance and service-based units that vested by September 30, 2023. However, none of such units are exercisable under 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 $ — Forfeited or expired (217) 3.72 6.44 — Vested (126) 3.72 8.75 Outstanding, September 30, 2023 344 $ 4.70 9.28 4.42 — Exercisable, September 30, 2023 (1) 188 $ 5.36 $ 11.46 — $ 3.3 (1) The aggregate intrinsic value represents only those vested options that have a weighted-average exercise price below the closing Class A common stock price at the end of each period.
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 361 4.80 Vested and converted to shares (334) 8.40 Forfeited/canceled (336) 6.73 Outstanding, September 30, 2023 1,475 $ 5.06 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 150 5.41 Forfeited/canceled (49) 3.97 Outstanding, September 30, 2023 1,397 $ 4.02

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net income (loss) $ 3,083 $ (4,020) $ 15,530 $ (27,128) Less: Net income (loss) attributable to non-controlling interests (1,045) (1,816) 3,054 (10,850) Net income (loss) attributable to Solo Brands, Inc. $ 4,128 $ (2,204) $ 12,476 $ (16,278) Weighted average shares of Class A common stock outstanding - basic 57,883 63,470 61,370 63,429 Effect of dilutive securities 485 — 211 — Weighted average shares of Class A common stock outstanding - diluted 58,368 63,470 61,581 63,429 Net income (loss) per share of Class A common stock outstanding - basic $ 0.07 $ (0.03) $ 0.20 $ (0.26) Net income (loss) per share of Class A common stock outstanding - diluted $ 0.07 $ (0.03) $ 0.20 $ (0.26)

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 110,324	$ 102,162	$ 329,458	$ 320,384
Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net sales	76,337	86,306	230,737	262,632
Wholesale
Disaggregation of Revenue [Line Items]
Net sales	$ 33,987	$ 15,856	$ 98,721	$ 57,752

Acquisitions - Sconberg Narrati

Acquisitions - Sconberg Narrative (Details) - USD ($) $ in Thousands		5 Months Ended	9 Months Ended
	May 01, 2023	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Property and equipment, net		$ 26,021	$ 26,021		$ 15,166
Goodwill		405,206	405,206		$ 382,658
Payments of contingent consideration			9,386	$ 0
Sconberg LLC (TerraFlame)
Business Acquisition [Line Items]
Purchase option voting interest acquired	100%
Cash consideration for acquisition	$ 13,200
Acquired consideration paid	5,500
Business combination, recognized identifiable assets acquired and liabilities assumed, contingent liability	7,700
Intangible assets, net	5,600
Property and equipment, net	4,300
Goodwill	$ 1,900
Acquisition related costs		500
Contingent consideration reduction		(2,600)
Sconberg LLC (TerraFlame) | Earnout Contingent Consideration
Business Acquisition [Line Items]
Payments of contingent consideration		5,100
Sconberg LLC (TerraFlame) | Weighted Average | Earnout Contingent Consideration
Business Acquisition [Line Items]
Earnout contingent consideration		2,600	2,600
Sconberg LLC (TerraFlame) | Minimum | Earnout Contingent Consideration
Business Acquisition [Line Items]
Earnout contingent consideration		0	0
Sconberg LLC (TerraFlame) | Maximum | Earnout Contingent Consideration
Business Acquisition [Line Items]
Earnout contingent consideration		$ 2,800	$ 2,800

Acquisitions - IcyBreeze Collin

Acquisitions - IcyBreeze Colling Narrative (Details) - USD ($) $ in Thousands			3 Months Ended						5 Months Ended	9 Months Ended
	Jul. 11, 2023	Jul. 01, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Inventory			$ 114,077						$ 114,077	$ 114,077		$ 132,990
Property and equipment, net			26,021						26,021	26,021		15,166
Goodwill			405,206						405,206	405,206		$ 382,658
Payments of contingent consideration										9,386	$ 0
Net sales, acquisitions			110,324			$ 102,162				329,458	320,384
Net income (loss), acquisitions			3,083	$ 11,514	$ 933	$ (4,020)	$ (19,873)	$ (3,235)		15,530	$ (27,128)
IcyBreeze Cooling LLC
Business Acquisition [Line Items]
Purchase option voting interest acquired		100%
Cash consideration for acquisition		$ 52,100
Acquired consideration paid		30,000
Cash acquired from acquisition		7,400
Business combination, recognized identifiable assets acquired and liabilities assumed, contingent liability		14,900
Intangible assets, net		16,100
Inventory		4,400
Property and equipment, net		4,200
Goodwill		20,700
Acquisition related costs									$ 400
Earnout contingent consideration	$ 14,900
Payments of contingent consideration	$ 15,300
IcyBreeze Cooling LLC | Earnout Contingent Consideration | Weighted Average
Business Acquisition [Line Items]
Earnout contingent consideration		$ 14,900
Sconberg LLC (TerraFlame) And IcyBreeze Colling LLC | Pro Forma
Business Acquisition [Line Items]
Net sales, acquisitions			8,500							9,600
Net income (loss), acquisitions			$ 2,200							$ 2,100

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished products on hand	$ 94,532	$ 112,126
Finished products in transit	15,772	16,589
Raw materials	3,773	4,275
Inventory	$ 114,077	$ 132,990

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment, net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 34,092	$ 19,432
Accumulated depreciation	(8,071)	(4,266)
Property and equipment, net	26,021	15,166
Machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,800	8,940
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,376	6,959
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,421	0
Computer, software, and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,868	2,003
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,195	1,463
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,090	0
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 342	$ 67

Property and Equipment, net - N

Property and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1.4	$ 0.9	$ 3.8	$ 2.4

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, net- Schedule of the Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 382,658
Acquisitions	22,548
Goodwill, ending balance	$ 405,206

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, net- Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 301,367	$ 279,039
Accumulated amortization, gross	(60,670)	(44,407)
Intangible assets, net	240,697	234,632
Brand
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	205,614	196,114
Accumulated amortization, gross	(39,118)	(29,146)
Trademark
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	33,566	33,566
Accumulated amortization, gross	(7,747)	(5,957)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	31,805	28,605
Accumulated amortization, gross	(6,611)	(4,542)
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	17,871	17,871
Accumulated amortization, gross	(6,170)	(4,255)
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	12,511	2,883
Accumulated amortization, gross	$ (1,024)	$ (507)

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, net- Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 5,700	$ 5,300	$ 16,263	$ 15,748

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Inventory	$ 9,803	$ 7,543
Leases	7,734	6,889
Payroll	6,995	6,999
Non-income taxes	3,913	6,163
Allowance for sales returns	3,642	3,937
Marketing	3,610	451
Income taxes	2,742	5,490
Shipping costs	1,077	3,607
Other	2,703	2,298
Accrued expenses and other current liabilities	$ 42,219	$ 43,377

Long-Term Debt, Net (Details)

Long-Term Debt, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (2,222)	$ (2,867)
Total debt, net of debt issuance costs	165,278	113,383
Less: current portion of long-term debt	5,000	5,000
Long-term debt, net	$ 160,278	108,383
Term loan
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)	6.44%
Total debt, gross	$ 92,500	96,250
Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)	6.50%
Total debt, gross	$ 75,000	$ 20,000

Leases - Schedule of Components

Leases - Schedule of Components of the Total Leased Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Right-of-use assets, net, operating leases	$ 32,078	$ 34,259
Right-of-use assets, net, finance leases	851	0
Total right-of-use assets, net	32,929	34,259
Current lease liabilities, operating leases	7,590	6,889
Current lease liabilities, finance leases	144	0
Long-term lease liabilities, operating leases	25,722	29,133
Long-term lease liabilities, finance leases	486	0
Total lease liabilities	$ 33,942	$ 36,022
Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Operating lease, liability, current, statement of financial position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance lease, liability, current, statement of financial position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities

Leases - Schedule of Componen_2

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease right-of-use expense	$ 2,079	$ 1,861	$ 6,061	$ 4,891
Finance lease expense:
Amortization of assets	48	0	48	0
Interest on lease liabilities	23	0	23	0
Total finance lease expense	71	0	71	0
Variable and short-term lease expense	543	481	1,843	1,092
Total lease expense	$ 2,693	$ 2,342	$ 7,975	$ 5,983

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Sep. 30, 2023	Dec. 31, 2022
Weighted average remaining lease term (years)
Operating leases	4 years 4 months 28 days	5 years 18 days
Finance leases	4 years 3 months 29 days	0 years
Weighted average discount rate
Operating leases	2.95%	2.66%
Finance leases	6.15%	0%

Leases - Schedule of Cash Flow

Leases - Schedule of Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cash outflows for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases	$ 2,048	$ 1,404	$ 5,991	$ 3,714
Lease right of use assets obtained in exchange for lease obligations
Operating leases	0	12,044	2,532	15,287
Financing leases	$ 899	$ 0	$ 899	$ 0

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturities of Operating and Financing Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Operating Leases
2023 (remaining three months)	$ 2,140
2024	8,562
2025	8,628
2026	7,216
2027	5,283
Thereafter	4,108
Total lease payments	35,937
Less: imputed interest	2,625
Present value of lease liabilities	33,312
Finance Leases
2023 (remaining three months)	0
2024	182
2025	182
2026	182
2027	182
Thereafter	0
Total lease payments	728
Less: imputed interest	98
Present value of lease liabilities	$ 630

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 4,964	$ 4,326	$ 14,766	$ 13,213
Common units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	3,068	3,368	9,441	10,241
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	1,037	899	2,965	2,507
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	690	0	1,891	0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	169	59	417	435
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 0	$ 0	$ 52	$ 30

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Common Units (Details) - Common units - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Outstanding Common Units
Beginning balance (in shares)	1,193
Forfeited/canceled (in shares)	(63)
Vested (in shares)	(675)
Ending balance (in shares)	455	1,193
Exercisable (in shares)	0
Weighted Average Grant Date Fair Value Per Unit
Beginning balance (in dollars per share)	$ 13.12
Forfeited and cancelled (in dollars per share)	12
Vested (in dollars per share)	14.40
Ending balance (in dollars per share)	11.38	$ 13.12
Exercisable, weighted-average exercise price (in dollars per share)	$ 0
Weighted Average Remaining Contractual Term (Years)
Outstanding	5 months 4 days	1 year 1 month 28 days
Aggregate Intrinsic Value
Beginning balance	$ 15,655
Forfeited/canceled	756
Vested	9,717
Ending balance	5,182	$ 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)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Restricted stock units
Number of Awards
Outstanding at beginning of period (in shares) | shares	1,784,000
Granted (in shares) | shares	361,000
Vested and converted to shares (in shares) | shares	(334,000)
Forfeited/canceled (in shares) | shares	(336,000)
Outstanding at end of period (in shares) | shares	1,475,000
Weighted-Average Grant Date Fair Value
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 6.05
Granted (in dollars per share) | $ / shares	4.80
Vested and converted to shares (in dollars per share) | $ / shares	8.40
Forfeited/canceled (in dollars per share) | $ / shares	6.73
Outstanding at end of period (in dollars per share) | $ / shares	$ 5.06
Performance stock units
Number of Awards
Outstanding at beginning of period (in shares) | shares	1,296,000
Granted (in shares) | shares	150,000
Forfeited/canceled (in shares) | shares	(49,000)
Outstanding at end of period (in shares) | shares	1,397,000
Weighted-Average Grant Date Fair Value
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 3.86
Granted (in dollars per share) | $ / shares	5.41
Forfeited/canceled (in dollars per share) | $ / shares	3.97
Outstanding at end of period (in dollars per share) | $ / shares	$ 4.02

Equity-Based Compensation - S_3

Equity-Based Compensation - Summary of Stock Options (Details) - Stock options - Incentive Award Plan - USD ($) $ / shares in Units, shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Number of Stock Options
Beginning balance (in shares)	687
Forfeited or expired (in shares)	(217)
Vested (in shares)	(126)
Ending balance (in shares)	344	687
Exercisable (in shares)	188
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 4.34
Forfeited or expired (in dollars per share)	3.72
Vested (in dollars per share)	3.72
Ending balance (in dollars per share)	4.70	$ 4.34
Exercisable, weighted-average exercise price (in dollars per share)	5.36
Weighted-Average Exercise Price
Beginning balance (in dollars per share)	8.29
Forfeited or expired (in dollars per share)	6.44
Vested (in dollars per share)	8.75
Ending balance (in dollars per share)	9.28	$ 8.29
Exercisable, weighted-average exercise price (in dollars per share)	$ 11.46
Weighted-Average Remaining Contractual Term (Years)
Outstanding	4 years 5 months 1 day	4 years 11 months 23 days
Aggregate Intrinsic Value
Beginning balance	$ 0
Ending balance	0	$ 0
Exercisable, aggregate intrinsic value	$ 3,300

Equity-Based Compensation - Emp

Equity-Based Compensation - Employee Stock Purchase Plan (Details)	9 Months Ended
	Sep. 30, 2023 shares
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	139,032

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Operating Loss Carryforwards [Line Items]
Effective tax rate (as a percent)		199.20%	19.60%		(26.70%)	11.90%
Income tax (benefit)		$ (6,191)	$ (980)		$ (3,272)	$ (3,677)
Deferred tax liabilities, investment in holdings		40,500			40,500
Valuation allowance decrease		$ 6,700		$ 19,900
Income tax refund payment					$ 5,100
Subsidiaries
Operating Loss Carryforwards [Line Items]
Weighted average ownership interest (as a percent)		63.80%	67%		64.80%	67%
Subsequent Event
Operating Loss Carryforwards [Line Items]
Valuation allowance decrease	$ 300

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						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 3,083	$ 11,514	$ 933	$ (4,020)	$ (19,873)	$ (3,235)	$ 15,530	$ (27,128)
Less: Net income (loss) attributable to non-controlling interests	(1,045)			(1,816)			3,054	(10,850)
Net income (loss) attributable to Solo Brands, Inc.	4,128			(2,204)			12,476	(16,278)
Net income (loss) attributable to Solo Brands, Inc.	$ 4,128			$ (2,204)			$ 12,476	$ (16,278)
Weighted average shares of Class A common stock outstanding - basic (in shares)	57,883			63,470			61,370	63,429
Effect of dilutive securities (in shares)	485			0			211	0
Weighted average shares of Class A common stock outstanding - diluted (in shares)	58,368			63,470			61,581	63,429
Income (loss) per share of Class A common stock outstanding - basic (in dollars per share)	$ 0.07			$ (0.03)			$ 0.20	$ (0.26)
Income (loss) per share of Class A common stock outstanding - diluted (in dollars per share)	$ 0.07			$ (0.03)			$ 0.20	$ (0.26)

Net Income (Loss) Per Share - N

Net Income (Loss) Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.2	0.6	0.3	0.6
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.4	1.2	0.3	1.2

Equity (Details)

Equity (Details) - Class A Common Stock - USD ($) $ / shares in Units, $ in Millions			9 Months Ended
	Jul. 12, 2023	May 10, 2023	Sep. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased (in shares)			627,286
Stock repurchased and retired (in shares)	627,286	5,605,509	6,232,795
Stock repurchased and retired during period, value	$ 3.1	$ 28
Common stock authorized (in shares)			468,767,205	475,000,000
Common stock par value (in dollars per share)			$ 0.001	$ 0.001
Voting rights description			Holders of Class A common stock are entitled to one vote per share on all matters presented to the stockholders in general. In the event of liquidation, dissolution or winding up, each holder of Class A common stock will be entitled to a pro rata distribution of any assets available for distribution to common stockholders.

Barter Arrangements (Details)

Barter Arrangements (Details) $ in Millions	Sep. 30, 2023 USD ($)
Segment Reporting [Abstract]
Exchange of trade credits	$ 7.2
Recognizion of net sales	7.2
Unused media credits	$ 7.2