Lulus reports FY2023 net loss of $19.3M; revenue declines 19% YoY

Lulu's Fashion Lounge Holdings, Inc.

Net loss $19.3M vs net income $3.7M in FY2022; diluted EPS loss $0.48.
Revenue $355.2M, down 19% YoY; active customers fell 12% to 2.8M.
Gross margin contracted 180bps to 41.7%; adjusted EBITDA $3.2M, down 89% YoY.
Free cash flow improved to $11.5M from $1.2M; repaid $17M on revolver, debt at $8M.
CEO cites sequential revenue momentum in late 2023 and early 2024 as positive.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lulu's Fashion Lounge Holdings, Inc. reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue $355,175, net income $(19,334), EPS $(0.48).

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $355,175
Net income: $(19,334)
EPS: $(0.48)
Result: reported results

Exact text from the filing

Fiscal Years Ended December 31, 2023 January 1, 2023 YoY Change (52 weeks) (52 weeks) (In thousands, except percentages) Net revenue $ 355,175 $ 439,652 (19) % Gross profit $ 148,226 $ 191,446 (23) % Gross Margin* 41.7 % 43.5 % (180) bps Net income (loss) $ (19,334) $ 3,725 NM

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Lulu's Fashion Lounge Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-002602

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