Sleep Number Q4 net loss narrows to $5M; appoints Linda Findley CEO

Sleep Number Corp

Q4 net sales $377M (-12% YoY); gross margin 59.9% (+330 bps); net loss $5M (vs -$25M prior year).
Full-year net sales $1.68B (-11%); adjusted EBITDA $120M; free cash flow $4M vs -$66M prior year.
Amended credit facility: $40M liquidity covenant, relaxed leverage ratios through 2025 (max 4.75x in Q1/Q2 2025).
Linda Findley appointed President and CEO effective April 7, 2025; Phillip Eyler to become independent Chair.
No 2025 financial outlook issued; new CEO will evaluate strategies before providing guidance.

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