Solo Brands, Inc. (NYSE:DTC) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET
Company Participants
Bruce Williams - IR
John Merris - CEO
Somer Webb - CFO
Conference Call Participants
Peter Keith - Piper Sandler
Chasen Bender - Citi
Sabrina Baxamusa - William Blair
Ryan Sigdahl - Craig-Hallum Capital Group
Brian McNamara - Canaccord Genuity
Operator
Ladies and gentlemen, hello, and welcome to the Solo Brands Inc. Third Quarter Fiscal 2023 Financial Results. My name is Maxine, and I'll be coordinating the call today.[Operator Instructions]
I will now hand over to Bruce Williams to begin. Bruce, Please go ahead when you are ready.
Bruce Williams
Good morning, everyone, and thank you for joining the call to discuss Solo Brands third quarter results, which we released this morning, and it can be found on the Investor Relations section of our website at investors.solobrands.com. Today's call will be hosted by Chief Executive Officer, John Merris; and Chief Financial Officer, Somer Webb. Before we get started, I want to remind everyone that management's remarks on this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current management's expectations. These may include, without limitation, predictions, expectations, targets or estimates, including regarding our anticipated financial performance, business plans and objectives, future events and developments, and actual results could differ materially from those mentioned. Those forward-looking statements also involve substantial risks and uncertainties, some of which may be outside of our control and that could cause actual results to differ materially from those expressed or implied by such statements.
These risks and uncertainties, among others, are discussed in our files with the SEC. We encourage you to review these filings for a discussion of these risks, including our soon to be filed quarterly report on Form 10-Q and will be available on the Investors portion of our website at investors.solobrands.com.
Now I'd like to turn the call over to John.
John Merris
Thank you, Bruce, and thank you for joining the call today to discuss Solo Brands and our third quarter results.
I will begin with a review of our third quarter performance and then talk more about our vision and strategy. Somer will then review the financials in more detail and provide our outlook. I am pleased with our third quarter results, which came in ahead of our expectations. We delivered sales of $110 million, an increase of 8% over last year and adjusted EBITDA margins have increased 250 basis points to roughly 14%.