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what it is
It sells camp stoves, kayaks, paddle boards, apparel, and fire accessories through its own sites and retail partners.
how it gets paid
Last year Solo Brands made $455M in revenue. Solo Stove was the main engine at $190M, or 42% of sales.
what just happened
Solo Brands posted $223M in quarterly revenue, but the loss was still -$26.59 per share.
At a glance
C balance sheet — red flag territory — real financial stress
14.5% return on capital — nothing to write home about
-$17.20 fy2024 eps est
$455M fy2024 rev est
38.4% operating margin
xvary composite: 13/100 — weak
What they do
It sells camp stoves, kayaks, paddle boards, apparel, and fire accessories through its own sites and retail partners.
Solo Brands sells through websites, retail partners, and physical stores. It has five premium brands and 526 employees. That gives you more places to buy, but it also leaves a $250M debt stack sitting on a $17M market cap.
How they make money
$455M
annual revenue
Solo Stove
$190M
Chubbies
$105M
Oru Kayak
$60M
ISLE
$55M
TerraFlame
$45M
The products that matter
smokeless fire pits
Solo Stove
~$274M · about 60% of revenue
This is still the center of gravity at roughly $274M of the estimated $455M revenue base. If this brand does not stabilize, the rest of the portfolio is too small to carry the story.
main brand
foldable kayaks
Oru Kayak
part of the ~40% non-Solo mix
Oru sits inside the roughly $182M revenue bucket shared with ISLE. It gives you another category, but the numbers here are too thin to call it a separate growth engine.
portfolio support
inflatable paddle boards
ISLE Paddle Boards
part of the ~40% non-Solo mix
ISLE helps round out the portfolio, but it lives in the same leisure-spending bucket as the rest of the company. When consumers pull back, you feel it across the page.
consumer discretionary
Key numbers
$250M
long-term debt
That is 94% of capital, so lenders have the first claim.
$17M
market cap
The stock is tiny beside the debt stack.
38.4%
operating margin
Every $100 of sales loses $38.40 before interest.
$455M
annual revenue
The company still has scale, but scale does not cancel debt.
Financial health
C
strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $250M (94% of capital)
C — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for SBDS right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Solo Brands posted $223M in quarterly revenue, but the loss was still -$26.59 per share.
Revenue was up 320% vs. prior year, and gross margin held at 58.9%, but the business stayed underwater.
$223M
revenue
$26.59
eps
58.9%
gross margin
gross margin
58.9% gross margin mattered because the product still made money before overhead, even with a $26.59 per-share loss.
source: company earnings report, 2026
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What could go wrong
The risk is not abstract. $250M of debt against a ~$17M market cap means the balance sheet has already taken over the story.
high
Debt overwhelms the equity
Long-term debt is $250M, or 94% of capital, while the market cap is about $17M. Creditors have more influence over the outcome than shareholders do.
If operating results stay weak, refinancing pressure becomes the main event.
high
Losses are still too large for the revenue base
Q2 2025 produced a $20.8M net loss on $92.4M of sales. In plain English: too much of every sales dollar is vanishing before it reaches shareholders.
The company does not need a small improvement. It needs a real reset in costs, mix, or both.
med
Cash cushion is thin
Cash is $16.33M. That is not much room for error when the page already shows a stressed earnings profile and a weak balance sheet grade.
If sales slip again, balance-sheet options get narrower fast.
med
Consumer demand is already soft
Estimated annual revenue fell 8.1% from a year ago. That means the company is trying to restructure while the top line is still moving the wrong way.
A shrinking sales base makes every fixed cost and every debt dollar feel heavier.
A -39.64% net margin, $16.33M of cash, and $250M of debt make this a turnaround with almost no slack.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
2026-03-19 · Q4 2025 earnings
Management expects adjusted EBITDA above $9M. That is the number to watch because the last reported quarter posted -$5.1M.
metric
Gross margin versus operating losses
Gross margin ran at 58.9% for the year and 60.6% on an adjusted basis in Q2 2025. If that still cannot cover overhead, the brand story gets thinner fast.
risk
Cash runway and debt pressure
Cash is $16.33M and debt is $250M. If the next filings do not show a better cash profile, the capital structure stays in charge.
trend
Do retail rebuild and new launches help the top line
Sales fell 8.1% from a year ago. New product launches and retail partnerships need to show up in revenue, not just in presentations.
Analyst rankings
risk profile
high risk
risk rank 5 — significant risk of large drawdowns.
chart momentum
bottom 5%
momentum rank 5 — the lowest rating — significant underperformance expected.
source: institutional data
Institutional activity
institutional ownership data for SBDS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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