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Segment Reporting | 6 Months Ended
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Jun. 30, 2025
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:
Segment |  | Key Brands |  | Description of Primary Products
Solo Stove |  | Solo Stove and TerraFlame(1) |  | Indoor and outdoor firepits, stoves, and accessories
Chubbies |  | Chubbies |  | Premium casual apparel and activewear
(1) While certain assets and manufacturing operations of the TerraFlame business were transferred to the Former Sellers during the second quarter of 2025, the Company will continue to be sole distributor of TerraFlame products and will recognize the resulting profit or loss from the Company’s distribution activities within the Solo Stove reporting units. Our remaining operating segments that did not meet the criteria necessary to be considered a reportable segment are aggregated into All Other. Our CODM relies on internal management reporting that analyzes our segments’ EBITDA, which he utilizes to evaluate performance and allocate resources. 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 table presents the percentage of net sales attributable to the Company’s two reportable segments:
| Percentage of Net Sales
| Solo Stove |  | Chubbies
Three Months Ended June 30, 2025 | 41.5 | % |  | 48.2 | %
Three Months Ended June 30, 2024 | 53.7 | % |  | 29.9 | %
Six Months Ended June 30, 2025 | 38.0 | % |  | 51.4 | %
Six Months Ended June 30, 2024 | 56.3 | % |  | 31.8 | %
A single customer contributed greater than 10% of consolidated net sales for the three months ended June 30, 2025, with net sales of $18.0 million, from which both the Solo Stove and Chubbies segments generated net sales activity. The six months ended June 30, 2025 and the three and six months ended June 30, 2024 did not have any customers who contributed 10% or greater to consolidated net sales for the respective period. Our sales to foreign customers, mostly attributable to the Solo Stove segment, were $6.7 million and $12.3 million for the three and six months ended June 30, 2025 and $9.9 million and $15.7 million for the three and six months ended June 30, 2024, respectively. The following table presents the percentage of international net sales attributable to our two reportable segments:
| Percentage of International Net Sales
| Solo Stove |  | Chubbies
Three Months Ended June 30, 2025 | 81.6 | % |  | 3.9 | %
Three Months Ended June 30, 2024 | 82.2 | % |  | 2.6 | %
Six Months Ended June 30, 2025 | 84.6 | % |  | 3.5 | %
Six Months Ended June 30, 2024 | 84.3 | % |  | 2.7 | %
Net sales to no individual country outside the U.S. accounted for more than 5% of net sales for the three and six months ended June 30, 2025 and 2024.
| Three Months Ended June 30, 2025
(in thousands) | Solo Stove |  | Chubbies |  | All Other(1) |  | Consolidated
Net sales | $ | 38,298 |  |  | $ | 44,455 |  |  | $ | 9,504 |  |  | $ | 92,257 |
Cost of goods sold | 13,730 |  |  | 17,826 |  |  | 4,102 |  |  | 35,658 |
Marketing expense | 9,088 |  |  | 4,211 |  |  | 1,351 |  |  | 14,650 |
Employee related compensation | 2,814 |  |  | 3,410 |  |  | 641 |  |  | 6,865 |
Other segment operating expenses(2) | 9,272 |  |  | 7,531 |  |  | 1,625 |  |  | 18,428 |
Segment EBITDA | 3,394 |  |  | 11,477 |  |  | 1,785 |  |  | 16,656 |
Corporate and other non-segment operating expenses(3) |  |  |  |  |  |  | 9,846 |
Restructuring, contract termination and impairment charges |  |  |  |  |  |  | 10,251 |
Depreciation and amortization expenses |  |  |  |  |  |  | 6,394 |
Interest expense, net |  |  |  |  |  |  | 5,989 |
Other non-operating (income) expense |  |  |  |  |  |  | 3,267 |
Income (loss) before income taxes |  |  |  |  |  |  | $ | (19,091) |
Depreciation and amortization expenses | $ | 4,847 |  |  | $ | 1,397 |  |  | $ | 150 |  |  | $ | 6,394 |
| Six Months Ended June 30, 2025
(in thousands) | Solo Stove |  | Chubbies |  | All Other(1) |  | Consolidated
Net sales | $ | 64,426 |  |  | $ | 87,144 |  |  | $ | 17,939 |  |  | $ | 169,509 |
Cost of goods sold | 25,200 |  |  | 35,999 |  |  | 9,106 |  |  | 70,305 |
Marketing expense | 14,800 |  |  | 7,525 |  |  | 1,975 |  |  | 24,300 |
Employee related compensation | 6,123 |  |  | 6,844 |  |  | 1,612 |  |  | 14,579 |
Other segment operating expenses(2) | 16,395 |  |  | 14,004 |  |  | 3,081 |  |  | 33,480 |
Segment EBITDA | 1,908 |  |  | 22,772 |  |  | 2,165 |  |  | 26,845 |
Corporate and other non-segment operating expenses(3) |  |  |  |  |  |  | 17,950 |
Restructuring, contract termination and impairment charges |  |  |  |  |  |  | 16,090 |
Depreciation and amortization expenses |  |  |  |  |  |  | 13,283 |
Interest expense, net |  |  |  |  |  |  | 11,559 |
Other non-operating (income) expense |  |  |  |  |  |  | 2,687 |
Income (loss) before income taxes |  |  |  |  |  |  | $ | (34,724) |
Depreciation and amortization expenses | $ | 9,808 |  |  | $ | 2,786 |  |  | $ | 689 |  |  | $ | 13,283 |
| Three Months Ended June 30, 2024
(in thousands) | Solo Stove |  | Chubbies |  | All Other(1) |  | Consolidated
Net sales | $ | 70,660 |  |  | $ | 39,296 |  |  | $ | 21,594 |  |  | $ | 131,550 |
Cost of goods sold | 25,386 |  |  | 14,794 |  |  | 8,733 |  |  | 48,913 |
Marketing expense | 14,057 |  |  | 6,139 |  |  | 6,723 |  |  | 26,919 |
Employee related compensation | 2,350 |  |  | 3,456 |  |  | 855 |  |  | 6,661 |
Other segment operating expenses(2) | 14,090 |  |  | 7,166 |  |  | 4,560 |  |  | 25,816 |
Segment EBITDA | 14,777 |  |  | 7,741 |  |  | 723 |  |  | 23,241 |
Corporate and other non-segment operating expenses(3) |  |  |  |  |  |  | 14,595 |
Restructuring, contract termination and impairment charges |  |  |  |  |  |  | — |
Depreciation and amortization expenses |  |  |  |  |  |  | 6,406 |
Interest expense, net |  |  |  |  |  |  | 3,563 |
Other non-operating (income) expense |  |  |  |  |  |  | 20 |
Income (loss) before income taxes |  |  |  |  |  |  | $ | (1,343) |
Depreciation and amortization expenses | $ | 4,689 |  |  | $ | 1,162 |  |  | $ | 555 |  |  | $ | 6,406 |
| Six Months Ended June 30, 2024
(in thousands) | Solo Stove |  | Chubbies |  | All Other(1) |  | Consolidated
Net sales | $ | 122,137 |  |  | $ | 68,953 |  |  | $ | 25,784 |  |  | $ | 216,874 |
Cost of goods sold | 46,134 |  |  | 27,202 |  |  | 10,357 |  |  | 83,693 |
Marketing expense | 23,922 |  |  | 9,787 |  |  | 8,222 |  |  | 41,931 |
Employee related compensation | 4,531 |  |  | 6,692 |  |  | 1,964 |  |  | 13,187 |
Other segment operating expenses(2) | 25,128 |  |  | 12,599 |  |  | 6,001 |  |  | 43,728 |
Segment EBITDA | 22,422 |  |  | 12,673 |  |  | (760) |  |  | 34,335 |
Corporate and other non-segment operating expenses(3) |  |  |  |  |  |  | 25,766 |
Restructuring, contract termination and impairment charges |  |  |  |  |  |  | — |
Depreciation and amortization expenses |  |  |  |  |  |  | 12,681 |
Interest expense, net |  |  |  |  |  |  | 6,669 |
Other non-operating (income) expense |  |  |  |  |  |  | 241 |
Income (loss) before income taxes |  |  |  |  |  |  | $ | (11,022) |
Depreciation and amortization expenses | $ | 9,319 |  |  | $ | 2,240 |  |  | $ | 1,122 |  |  | $ | 12,681 |
1 Includes net sales of our operating segments that did not meet the requirements to be considered a reportable segment, which includes net sales of Oru, ISLE and IcyBreeze (through date of wind-down), as well as the consolidating elimination entries that are not specific to our reportable segments. 2 Includes expenses for seller fees, shipping and fulfillment, along with certain fixed and other variable expenses incurred in the normal course of business. 3 Includes corporate general and administrative service expenses of $5.8 million and $12.7 million and $10.2 million and $17.2 million for the three and six months ended June 30, 2025 and 2024, 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 six months ended June 30, 2025 and 2024.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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