Solo Brands, Inc. · OTC:SBDS
Solo Brands — Southwest IDEAS Conference 2024
21 slides from Solo Brands's conference presentation, Nov 20, 2024
Slide 1: Southwest IDEAS Conference
Southwest IDEAS Conference November 20, 2024 1
Slide 2: Legal disclaimer
Legal disclaimer This presentation may include forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including
Slide 3: Today's Presenters
Today’s Presenters Chris Metz Laura Coffey Chief Executive Officer Chief Financial Officer 3
Slide 4: Solo Brands Overview
NYSE Went public in DTC 2021 SOLO BRANDS OVERVIEW Solo Brands is a leading portfolio of innovative lifestyle brands that are redefining the outdoor & apparel industries Headquartered in Employees Grapevine, TX 400+ The Company’s reaffirmed 2024 outlook: • Total revenue is expected to be between $470
Slide 5: Why Invest in Solo Brands?
Why Invest in Solo Brands? SOLO BRANDS WINNING FACTORS Significant expertise in scaling digitally-native Clear leader in core markets (fire pits, pizza ovens brands, demonstrated by rapid growth of and men’s swim) with strong growth tailwinds Chubbies since it was brought into Solo Brands have a pas
Slide 6: Our Vision
Our Vision SOLO BRANDS OVERVIEW To grow a leading portfolio of lifestyle brands that our communities love, trust, and rave about 6
Slide 7: Observations when I joined the Company
Observations when I joined the Company … SOLO BRANDS INVESTOR SUMMARY • FY23 was the Company’s first year of declining sales driven by underperformance of Direct to Consumer Direct to Consumer sales were down 15% in FY23 Lack of retail sales strategy and planning with major retailers • The Compa
Slide 8: Phased approach to stabilize and grow the business
We are building a phased approach to stabilize and grow the business over the next few years SOLO BRANDS PHASED APPROACH Phase III: Expand the platform Phase II: 2026+ Return to growth Phase I: 2025-2026 Stabilize the business 2024 8
Slide 9: Phase I - 2024 priorities to stabilize the business
Phase I - In 2024, two key priorities to stabilize the business and put Solo Brands on the path to return to growth SOLO BRANDS 2024 PRIORITIES 2024 Priorities Description and actions 1 • Evaluate portfolio and diagnose performance drivers • Fix our baseline systems and processes Shore up the founda
Slide 10: Phase II - Three overarching strategic priorities
Phase II - In the mid-term, our ambition is to grow Solo Brands through three overarching strategic priorities SOLO BRANDS STRATEGIC PLAN PRIORITIES Strategic Priorities Description and actions 1 • Grow with our target consumers with consumer-obsessed approaches Double down on Solo Stove • Invest in
Slide 11: Three core growth levers for Solo Stove
Three core growth levers underpin Solo Stove’s multi-year growth strategy STRATEGIC PLAN SOLO STOVE GROWTH LEVERS 1 2 3 Win with the Drive Omni- Expand Product Outdoor Hosts Channel Growth Portfolio • Strengthen brand • Develop channel & • Renovate core products positioning and define assortment str
Slide 12: Chubbies growth is focused in three areas
Chubbies growth is focused in three areas STRATEGIC PLAN CHUBBIES GROWTH LEVERS 1 2 3 Drive Direct to Continue Retail Expand Product Consumer Expansion Portfolio Growth • Awareness: Expand Brand • Increase Door Counts in • Extend core products awareness within the Existing Stores Weekender Segment •
Slide 13: Streamlining our portfolio
Streamlining our portfolio will drive more bottom-line efficiency as well as enable more growth opportunities PRIORITIES STREAMLINE PORTFOLIO New Water Sports Platform Solo Stove Brand Expansion • Bringing together our Oru and ISLE brands under one • Integrating Icybreeze into the Solo Stove brand a
Slide 14: Outdoor Goods and Apparel platforms
Together, our Outdoor Goods and Apparel platforms will enable us to increase the value of Solo Brands SOLO BRANDS STRATEGY Vision: To grow a leading portfolio of lifestyle brands that our communities love, trust, and rave about Outdoor Goods Platform Apparel Platform Solo Stove Oru / ISLE Chubbies G
Slide 15: Summary: differentiated portfolio and strategy
Summary: Solo Brands has a differentiated portfolio and a compelling strategy that positions the company for growth SOLO BRANDS INVESTOR SUMMARY • Solo Brands has a clear set of strengths across our portfolio of brands We have strong direct to consumer native brands with passionate communities of
Slide 16: Q3 Financials
(A) Q3 Financials thsolo brands |
Slide 17: Q3 Financial Performance
Q3 Financial Performance Adjusted Net Sales (1) Adjusted Gross Profit (2) Q3 Highlights ($ millions) $103 $94 $68 Results are in line with $58 expectations despite a ($ millions) % Margin 62.0% 61.9% challenging macroeconomic environment Significant operating leverage supported by strong gross Q
Slide 18: FY 2024 Outlook
FY 2024 Outlook 1) Q4 figures are calculated based on the Company achieving the low and mid-point of its annual 2024 outlook. Figures are not predictions of actual future results. 2) The Company has not provided a quantitative reconciliation of forecasted adjusted EBITDA margin to forecasted GAAP ne
Slide 19: Appendix
Appendix thsolo brands |
Slide 20: Reconciliation of Non-GAAP Financial Information to GAAP
Reconciliation of Non-GAAP Financial Information to GAAP 20
Slide 21: Reconciliation of Non-GAAP Financial Information to GAAP
Reconciliation of Non-GAAP Financial Information to GAAP Note: Numbers may not tie due to rounding. 21