---
schema_version: "secwatch.filing_event.v1"
accession: "0000827187-24-000085"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2024-10-30T23:59:59+00:00"
generated_at: "2026-05-30T08:43:47.538430+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sleep Number Q3 sales down 10% to $427M; CEO Ibach to retire

## Summary
- Net sales of $427M, down 10% YoY; gross margin 60.8% (+340 bps YoY).
- Adjusted EBITDA $28M, up 11% YoY; FY2024 adj EBITDA outlook $115-125M.
- Operating expenses reduced $17M in Q3 and $60M YTD (before restructuring).
- Free cash flow $34M YTD, up $50M vs prior year; leverage ratio 4.2x EBITDAR.
- CEO Shelly Ibach to retire no later than 2025 Annual Meeting; Board declassification and size reduction.

## SEC filing metadata
- accession: 0000827187-24-000085
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2024-10-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/827187/000082718724000085/0000827187-24-000085-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000082718724000085/snbr-20241030.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827187-24-000085
- JSON: https://secwatch.observer/filing/0000827187-24-000085.json
- Plain text: https://secwatch.observer/filing/0000827187-24-000085.txt

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