---
schema_version: "secwatch.filing_event.v1"
accession: "0000827187-25-000116"
form_type: "8-K"
ticker: "SNBR"
cik: "0000827187"
company_name: "Sleep Number Corp"
filed_at: "2025-11-05T23:59:59+00:00"
generated_at: "2026-05-17T00:28:43.445342+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Sleep Number Q3 net loss $40M, sales -19.6%; cuts FY2025 outlook, amends bank deal to 2027

## Summary
- Q3 net sales $343M, down 19.6% YoY; net loss $40M ($1.73/share) vs loss $3M last year.
- Adjusted EBITDA fell 52% to $13M; leverage ratio 5.0x just under covenant max of 5.25x.
- Company amended and extended bank agreement through 2027 for financial flexibility.
- FY2025 outlook cut: net sales ~$1.4B, adjusted EBITDA ~$70M, negative FCF ~$50M.
- CEO says turnaround underway with restructuring charges of $41M in Q3.

## SEC filing metadata
- accession: 0000827187-25-000116
- form_type: 8-K
- ticker: SNBR
- cik: 0000827187
- company_name: Sleep Number Corp
- filed_at: 2025-11-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827187/000082718725000116/0000827187-25-000116-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827187/000082718725000116/snbr-20251105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827187-25-000116
- JSON: https://secwatch.observer/filing/0000827187-25-000116.json
- Plain text: https://secwatch.observer/filing/0000827187-25-000116.txt

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