v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segments Segments
The Company conducts its worldwide operations through separate business segments, each of which represents major product lines. Operations are conducted in the U.S. and various foreign countries, primarily in Europe, Canada and Australia. Segment reporting is based upon the “management approach,” i.e., how we organize operating segments for which separate financial information is (1) available and (2) evaluated regularly by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer.

The Company’s two reportable segments are as follows:

SegmentKey BrandsDescription of Primary Products
Solo Stove
Solo Stove and TerraFlame(1)
Indoor and outdoor firepits, stoves, and accessories
ChubbiesChubbies and Cheekies
Premium casual apparel and activewear
(1) While certain assets and manufacturing operations of the TerraFlame business were disposed of during the second quarter of 2025, the Company continues to be sole distributor of TerraFlame products and recognizes the resulting profit or loss from the Company’s distribution activities within the Solo Stove reporting unit.

The remaining operating segments did not meet the criteria necessary to be considered a reportable segment.

Our CODM relies on internal management reporting that analyzes our segment’s EBITDA, which he utilizes to evaluate performance as compared to historical results, and budget and forecast amounts, and allocate capital and investment in new products. The CODM also uses segment EBITDA to determine product pricing and strategy, and marketing spending relative to revenue returns. As segment assets are not reported to or used by the CODM to measure business performance or allocate resources, total segment assets are not presented below.
The following tables present segment information for net sales, significant expenses and the reconciliation of segment EBITDA to consolidated income (loss) before taxes (in thousands):

Three Months Ended March 31, 2026
Solo StoveChubbiesTotal
Net sales$16,026 $36,675 $52,701 
Reconciliation to consolidated net sales:
All other10,180 
Consolidated net sales$62,881 
Cost of goods sold$6,681 $16,749 
Marketing expense3,419 3,282 
Employee-related compensation2,104 3,039 
Other segment operating expenses(1)
5,508 6,288 
Segment EBITDA$(1,686)$7,317 $5,631 
All other Segment EBITDA(2)
1,971 
Corporate and other non-segment operating expenses(3)
(7,926)
Restructuring, contract termination and impairment charges(305)
Depreciation and amortization expenses(4,108)
Interest expense, net(7,493)
Other non-operating (income) expense148 
Income (loss) before income taxes$(12,082)
Depreciation and amortization expenses (disaggregated):
Solo Stove$2,688 
Chubbies1,337 
All other83 
Depreciation and amortization expense$4,108 

Three Months Ended March 31, 2025
Solo StoveChubbiesTotal
Net sales$26,128 $42,689 $68,817 
Reconciliation to consolidated net sales:
All other8,435 
Consolidated net sales$77,252 
Cost of goods sold$11,470 $18,173 
Marketing expense5,712 3,314 
Employee-related compensation3,309 3,434 
Other segment operating expenses(1)
7,123 6,473 
Segment EBITDA$(1,486)$11,295 $9,809 
All other Segment EBITDA(2)
380 
Corporate and other non-segment operating expenses(3)
(8,104)
Restructuring, contract termination and impairment charges(5,839)
Depreciation and amortization expenses(6,889)
Interest expense, net(5,570)
Other non-operating (income) expense580 
Income (loss) before income taxes$(15,633)
Depreciation and amortization expenses (disaggregated):
Solo Stove$4,961 
Chubbies1,389 
All other539 
Depreciation and amortization expense$6,889 
(1) Includes expenses for seller fees, shipping and fulfillment, along with certain fixed and other variable expenses incurred in the normal course of business.
(2) Includes net sales and expenses of our operating segments that did not meet the requirements to be considered a reportable segment, which includes the results of Watersports, for the three months ended March 31, 2026 and 2025, and IcyBreeze, for the three months ended March 31, 2025, as well as the consolidating elimination entries that are not specific to our reportable segments.
(3) Includes corporate general and administrative service expenses of $6.0 million and $6.9 million for the three months ended March 31, 2026 and 2025, respectively, with the remaining non-segment operating expenses being primarily fixed costs.

Net sales exclude all intercompany sales between our reportable segments and All Other, as well as related profits, which were not material for the three months ended March 31, 2026 and 2025.