{"schema_version":"secwatch.filing_event.v1","accession":"0000827187-23-000014","form_type":"8-K","ticker":"SNBR","cik":"0000827187","company_name":"Sleep Number Corp","filed_at":"2023-02-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.199488+00:00","generated_at":"2026-06-19T06:00:18.307708+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Sleep Number Q4 net loss $0.24/diluted share; FY22 EPS $1.60 vs $6.16 prior year","bullets":["Q4 net sales $498M (+1% YoY); gross margin 54.7% vs 56.9% prior year.","Full-year net sales $2.11B (-3% YoY); diluted EPS $1.60 vs $6.16.","FY22 operating cash flow $36M; leverage ratio 4.4x EBITDAR vs 5.0x covenant.","2023 EPS outlook $1.25-$2.00; net sales flat to down mid-single digits.","Expects gross margin improvement >150 bps; no share repurchases planned."],"urls":{"canonical":"https://secwatch.observer/filing/0000827187-23-000014","json":"https://secwatch.observer/filing/0000827187-23-000014.json","markdown":"https://secwatch.observer/filing/0000827187-23-000014.md","text":"https://secwatch.observer/filing/0000827187-23-000014.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/827187/000082718723000014/0000827187-23-000014-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/827187/000082718723000014/snbr-20230222.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T06:00:18.307708+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c7d23bd34ed6706f01e7ddf293f0ab87fbfcfe97","claim":"Sleep Number Corp reported the fiscal fourth quarter ended December 31, 2022 results: revenue $498 million, EPS $0.24 per diluted share.","evidence_excerpt":"Fourth Quarter Overview • Net sales were $498 million, up 1% compared with $492 million last year • Gross profit decreased 3% to $272 million, or 54.7% of net sales, compared with $280 million or 56.9% of net sales for the prior year • Net loss per diluted share of $0.24, compared to net income per diluted share of $0.47 last year","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/827187/000082718723000014/0000827187-23-000014-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal fourth quarter ended December 31, 2022"},{"label":"Revenue","value":"$498 million"},{"label":"EPS","value":"$0.24 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"d831923935c94fa3e425c4641e449cde75ce2644","claim":"Sleep Number Corp reported the fiscal year ended December 31, 2022 results: revenue $2.11 billion, EPS $1.60 per diluted share.","evidence_excerpt":"Full Year Overview • Net sales decreased 3% to $2.11 billion in 2022; full year demand declined 13% versus the prior year, partially offset by the delivery of excess backlog • Gross profit decreased 9% to $1.2 billion, or 56.9% of net sales, including the impact of year-over-year input cost increases and inefficiencies from semiconductor chip constraints, partially offset by pricing actions • Diluted EPS of $1.60, compared to $6.16 last year","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/827187/000082718723000014/0000827187-23-000014-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal year ended December 31, 2022"},{"label":"Revenue","value":"$2.11 billion"},{"label":"EPS","value":"$1.60 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"ef08c1df8e513b35b695dedd75706c5bea96a307","claim":"Sleep Number Corp reported 2023 results: EPS $1.25 to $2.00 per diluted share. Guidance initiated.","evidence_excerpt":"The company expects 2023 diluted EPS of $1.25 to $2.00. The 2023 outlook assumes net sales are flat to down mid-single digits versus the prior year. The outlook assumes gross margin rate improves by more than 150 basis points versus 2022. The company expects to generate over $100 million of operating cash flow for the year and positive free cash flows. The company anticipates 2023 capital expenditures of $50 million to $60 million and is planning no share repurchases during the year.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/827187/000082718723000014/0000827187-23-000014-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"2023"},{"label":"EPS","value":"$1.25 to $2.00 per diluted share"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}