Lulus Q3 net revenue $80.5M, net loss widens to $6.9M; lowers Q4 & FY outlook

Lulu's Fashion Lounge Holdings, Inc.

2024-Q3 EPS reported -$0.57 revenue$249,740,000

Net revenue $80.5M, down 3% YoY; net loss $6.9M vs $3.9M loss a year ago; adjusted EBITDA -$3.6M vs +$1.0M.
Gross margin fell 220 bps to 38.1%; active customers declined 10% to 2.7M; net debt increased $7M in Q3.
Q4 net revenue guidance lowered to $67.5-70.0M (vs $75M in Q4 2023); full-year FY24 expected $317.5-320M (vs $355.2M in FY23).
Company working to secure longer-term credit facility; no Q4 adjusted EBITDA guidance issued due to macro uncertainties.
Record special occasion and bridesmaid dress growth offset by casual wear softness; inventory down 7% YoY.

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