---
schema_version: "secwatch.filing_event.v1"
accession: "0000827187-24-000026"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T10:36:52.216702+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Sleep Number Q1 net sales down 11% to $470M; adjusted EBITDA $37M slightly ahead of outlook

## Summary
- Net sales $470M, down 11% YoY including ~4 ppt pressure from order backlog changes.
- Adjusted EBITDA $37M vs $49M prior year; operating expenses cut $24M (before restructuring).
- Free cash flow improved to $24M from $3M; leverage ratio 4.2x vs covenant maximum 5.0x.
- Reaffirmed FY 2024 adjusted EBITDA guidance $125M-$145M; expects mid-single digit net sales decline.

## SEC filing metadata
- accession: 0000827187-24-000026
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827187/000082718724000026/0000827187-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000082718724000026/snbr-20240424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827187-24-000026
- JSON: https://secwatch.observer/filing/0000827187-24-000026.json
- Plain text: https://secwatch.observer/filing/0000827187-24-000026.txt

## Key facts
- Earnings Releases
  Sleep Number Corp reported the quarter ended March 30, 2024 results: revenue $470 million. Guidance reaffirmed.
  - Period: the quarter ended March 30, 2024
  - Revenue: $470 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: attached as Exhibit 99.1 to this Current Report on Form 8-K. --- EX-99.1 (EX-99.1) --- FOR IMMEDIATE RELEASE SLEEP NUMBER ANNOUNCES FIRST QUARTER 2024 RESULTS • Net sales of $470 million; adjusted EBITDA of $37 million slightly ahead of expectations • Reduced operating expenses by $24 million year-over-year (before restructuring costs) and remain on track to
  evidence_url: https://www.sec.gov/Archives/edgar/data/827187/000082718724000026/0000827187-24-000026-index.htm

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