{"schema_version":"secwatch.filing_event.v1","accession":"0000827187-26-000012","form_type":"8-K","ticker":"SNBR","cik":"0000827187","company_name":"Sleep Number Corp","filed_at":"2026-03-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.788550+00:00","generated_at":"2026-05-15T14:32:38.410302+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Sleep Number FY2025 net sales $1.4B, net loss $132M; guides double-digit EBITDA growth in 2026","bullets":["Q4 net sales $347M (-8% YoY); net loss $59M vs $5M loss last year, including $47.9M deferred tax adjustment.","Full-year net loss $132M vs $20M loss; adjusted EBITDA $78M (-35%) with margin 5.5%.","Achieved $185M annualized cost savings; plans additional $50M fixed-cost savings in 2026.","New ComfortMode bed launched Jan 2026, outselling plan by 3.5x; rest of new line available March 23.","Engaged Guggenheim Securities to evaluate capital structure options and improve liquidity."],"urls":{"canonical":"https://secwatch.observer/filing/0000827187-26-000012","json":"https://secwatch.observer/filing/0000827187-26-000012.json","markdown":"https://secwatch.observer/filing/0000827187-26-000012.md","text":"https://secwatch.observer/filing/0000827187-26-000012.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/827187/000082718726000012/0000827187-26-000012-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/827187/000082718726000012/snbr-20260312.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T14:32:38.410302+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"20a8e500fa0202fbfe4ced1c5b1d7bf0d5f765c2","claim":"Sleep Number Corp reported the fiscal year ended January 3, 2026 results: revenue $1.4 billion, net income $132 million. Guidance initiated.","evidence_excerpt":"Net sales of $1.4 billion, down 16%, driven by driven by ongoing industry pressure and lower store traffic. • Gross profit of $833 million, a decrease of $170 million. Gross profit margin of 59.0% of net sales, down 60 bps, driven by the $9.6 million inventory write-down charge and partially offset by the benefit of product cost reductions through value engineering and ongoing supplier negotiations and ongoing efficiencies in our home delivery and logistics operations. • Operating expenses were $880 million. Adjusted operating expenses before restructuring and other non-recurring costs were $824 million, a decrease of $136 million, or 14%, driven by lower marketing and selling expenses, general and administrative expenses, and research and development expenses. • Restructuring and other non-recurring costs were $65 million, driven primarily by severance and employee-related benefits, contract termination costs due to store closures, asset impairment charges, and inventory obsolescence.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/827187/000082718726000012/0000827187-26-000012-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal year ended January 3, 2026"},{"label":"Revenue","value":"$1.4 billion"},{"label":"Net income","value":"$132 million"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"eef41beac09e414fb214c6b598196c2b1e145ab9","claim":"Sleep Number Corp reported the fourth quarter ended January 3, 2026 results: revenue $347 million, net income $59 million.","evidence_excerpt":"Net sales of $347 million, down 8%, driven by ongoing industry demand pressure and lower store traffic. • Gross profit of $193 million, a decrease of $32 million. Gross profit margin of 55.6% compared to 59.9% for the same period last year, primarily due to a $9.6 million inventory obsolescence charge associated with the introduction of the company's new product line. Excluding the charge, adjusted gross profit margin was 58.4%. • Operating expenses were $201 million. Adjusted operating expenses before restructuring and other non-recurring costs were $197 million, a decrease of $20 million, or 9%, driven by lower marketing and selling expenses, general and administrative expenses, and research and development expenses. • Restructuring and other non-recurring costs were $14 million, driven primarily by the $9.6 million inventory obsolescence charge and contract termination costs due to store closures. • Net loss of $59 million compared with a net loss of $5 million for the same period l","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/827187/000082718726000012/0000827187-26-000012-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter ended January 3, 2026"},{"label":"Revenue","value":"$347 million"},{"label":"Net income","value":"$59 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}