Lulus Q2 net revenue falls 13% to $92M; net loss widens to $10.8M

Lulu's Fashion Lounge Holdings, Inc.

2024-Q2 EPS reported -$0.40 revenue$169,225,000

Net revenue of $92.0M, down 13% YoY from $106.1M; net loss widened to $10.8M from $2.6M.
Gross margin improved 80bps to 45.5%; adjusted EBITDA turned negative at -$0.2M vs +$4.2M.
Active customers fell 13% to 2.7M; AOV increased 6% to $143; total orders down 14%.
Inventory declined 19% YoY; net cash from operations $3.7M; free cash flow $3.0M.
Provided Q3 2024 financial outlook and updated FY2024 capex guidance (specifics not included in filed text).

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