---
schema_version: "secwatch.filing_event.v1"
accession: "0000827187-23-000075"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T01:35:01.010331+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Sleep Number Q2 EPS $0.03 vs $1.54; sales down 16%; appoints Francis Lee CFO

## Summary
- Q2 net sales $459M (-16% YoY); diluted EPS $0.03 vs $1.54 prior year.
- FY 2023 EPS outlook updated to $1.25-$1.75 per share; expects >$100M operating cash flow.
- Appointed Francis Lee as EVP and Chief Financial Officer (effective immediately).
- Ninth Amendment extends maximum net leverage ratio of 5.0x to include Q3 2023 period.

## SEC filing metadata
- accession: 0000827187-23-000075
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827187/000082718723000075/0000827187-23-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000082718723000075/snbr-20230724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827187-23-000075
- JSON: https://secwatch.observer/filing/0000827187-23-000075.json
- Plain text: https://secwatch.observer/filing/0000827187-23-000075.txt

## Key facts
- Earnings Releases
  Sleep Number Corp reported second quarter ended July 1, 2023 results: revenue $459 million, EPS $0.03 per diluted share.
  - Period: second quarter ended July 1, 2023
  - Revenue: $459 million
  - EPS: $0.03 per diluted share
  - Result: reported results
  source text: Second quarter net sales were $459 million; demand down mid-single digits versus the prior year • Reports second quarter diluted EPS of $0.03
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000082718723000075/0000827187-23-000075-index.htm
- Earnings Releases
  Sleep Number Corp reported full-year 2023 results: EPS $1.25 to $1.75 per share.
  - Period: full-year 2023
  - EPS: $1.25 to $1.75 per share
  - Result: guidance update
  source text: The company updated its full-year 2023 diluted EPS outlook to a range of $1.25 to $1.75.
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000082718723000075/0000827187-23-000075-index.htm
- Material Agreements
  Sleep Number Corp amended Ninth Amendment with U.S. Bank National Association (effective 2023-07-24).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: U.S. Bank National Association
  - Effective: 2023-07-24
  source text: entered into a Ninth Amendment (the “Ninth Amendment”) amending and supplementing the Amended and Restated Credit and Security Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000082718723000075/0000827187-23-000075-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.