earnings
confidence high
sentiment negative
materiality 0.65
Lulus posts record FY2022 revenue $440M (+17% YoY), net income up 82% but adjusted EBITDA falls 30%
Lulu's Fashion Lounge Holdings, Inc.
- Full year net revenue $439.7M, up 17% YoY; Active Customers grew 17% to 3.2 million.
- Net income $3.7M ($0.10 diluted EPS), up 82% from $2.0M; prior year diluted EPS not meaningful.
- Gross margin 43.5%, down 360 bps from 47.1% due to higher promotions and shipping costs.
- Adjusted EBITDA $29.1M, down 30% from $41.4M despite revenue growth.
- Interest expense decreased 91% to ~$1.2M after repaying high-cost term loan with IPO proceeds.