---
schema_version: "secwatch.filing_event.v1"
accession: "0000827187-24-000067"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2024-07-31T23:59:59+00:00"
generated_at: "2026-05-31T14:41:28.678428+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sleep Number Q2 net sales fell 11% to $408M; adjusted EBITDA $28M, down from $35M last year

## Summary
- Net sales $408M, down 11% YoY; order backlog changes pressured sales by ~6 percentage points.
- Gross margin 59.1%, up 150 bps YoY on product cost cuts and logistics efficiency gains.
- Adjusted EBITDA $28M vs $35M last year; operating expenses down $19M before restructuring charges.
- Reiterates FY2024 adjusted EBITDA outlook $125M-$145M; expects mid-single-digit net sales decline.
- Leverage ratio 4.4x EBITDAR (covenant max 5.5x); YTD free cash flow $9M, up $21M YoY.

## SEC filing metadata
- accession: 0000827187-24-000067
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2024-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827187/000082718724000067/0000827187-24-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000082718724000067/snbr-20240731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827187-24-000067
- JSON: https://secwatch.observer/filing/0000827187-24-000067.json
- Plain text: https://secwatch.observer/filing/0000827187-24-000067.txt

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