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Segment Reporting
 6 Months Ended
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:

SegmentKey BrandsDescription of Primary Products
Solo Stove
Solo Stove and TerraFlame(1)
Indoor and outdoor firepits, stoves, and accessories
ChubbiesChubbies
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 StoveChubbies
Three Months Ended June 30, 202541.5 %48.2 %
Three Months Ended June 30, 202453.7 %29.9 %
Six Months Ended June 30, 202538.0 %51.4 %
Six Months Ended June 30, 202456.3 %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 StoveChubbies
Three Months Ended June 30, 202581.6 %3.9 %
Three Months Ended June 30, 202482.2 %2.6 %
Six Months Ended June 30, 202584.6 %3.5 %
Six Months Ended June 30, 202484.3 %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 StoveChubbies
All Other(1)
Consolidated
Net sales$38,298 $44,455 $9,504 $92,257 
Cost of goods sold13,730 17,826 4,102 35,658 
Marketing expense9,088 4,211 1,351 14,650 
Employee related compensation2,814 3,410 641 6,865 
Other segment operating expenses(2)
9,272 7,531 1,625 18,428 
Segment EBITDA3,394 11,477 1,785 16,656 
Corporate and other non-segment operating expenses(3)
9,846 
Restructuring, contract termination and impairment charges10,251 
Depreciation and amortization expenses6,394 
Interest expense, net5,989 
Other non-operating (income) expense3,267 
Income (loss) before income taxes$(19,091)
Depreciation and amortization expenses$4,847 $1,397 $150 $6,394 

Six Months Ended June 30, 2025
(in thousands)Solo StoveChubbies
All Other(1)
Consolidated
Net sales$64,426 $87,144 $17,939 $169,509 
Cost of goods sold25,200 35,999 9,106 70,305 
Marketing expense14,800 7,525 1,975 24,300 
Employee related compensation6,123 6,844 1,612 14,579 
Other segment operating expenses(2)
16,395 14,004 3,081 33,480 
Segment EBITDA1,908 22,772 2,165 26,845 
Corporate and other non-segment operating expenses(3)
17,950 
Restructuring, contract termination and impairment charges16,090 
Depreciation and amortization expenses13,283 
Interest expense, net11,559 
Other non-operating (income) expense2,687 
Income (loss) before income taxes$(34,724)
Depreciation and amortization expenses$9,808 $2,786 $689 $13,283 

Three Months Ended June 30, 2024
(in thousands)Solo StoveChubbies
All Other(1)
Consolidated
Net sales$70,660 $39,296 $21,594 $131,550 
Cost of goods sold25,386 14,794 8,733 48,913 
Marketing expense14,057 6,139 6,723 26,919 
Employee related compensation2,350 3,456 855 6,661 
Other segment operating expenses(2)
14,090 7,166 4,560 25,816 
Segment EBITDA14,777 7,741 723 23,241 
Corporate and other non-segment operating expenses(3)
14,595 
Restructuring, contract termination and impairment charges— 
Depreciation and amortization expenses6,406 
Interest expense, net3,563 
Other non-operating (income) expense20 
Income (loss) before income taxes$(1,343)
Depreciation and amortization expenses$4,689 $1,162 $555 $6,406 
Six Months Ended June 30, 2024
(in thousands)Solo StoveChubbies
All Other(1)
Consolidated
Net sales$122,137 $68,953 $25,784 $216,874 
Cost of goods sold46,134 27,202 10,357 83,693 
Marketing expense23,922 9,787 8,222 41,931 
Employee related compensation4,531 6,692 1,964 13,187 
Other segment operating expenses(2)
25,128 12,599 6,001 43,728 
Segment EBITDA22,422 12,673 (760)34,335 
Corporate and other non-segment operating expenses(3)
25,766 
Restructuring, contract termination and impairment charges— 
Depreciation and amortization expenses12,681 
Interest expense, net6,669 
Other non-operating (income) expense241 
Income (loss) before income taxes$(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.