secwatch.observer — SEC 8-K summary
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Issuer:     Sleep Number Corp (SNBR)
CIK:        0000827187
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0000827187-24-000026
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827187/000082718724000026/0000827187-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827187/000082718724000026/snbr-20240424.htm
  HTML page:      https://secwatch.observer/filing/0000827187-24-000026

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