---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-021163"
form_type: "8-K"
ticker: "LOVE"
cik: "0001701758"
company_name: "Lovesac Co"
filed_at: "2023-06-07T23:59:59+00:00"
generated_at: "2026-06-14T05:55:14.151042+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lovesac Q1 net loss $4.2M vs prior-year profit; sales up 9.1%, comp sales 15.1%

## Summary
- Net sales of $141.2M (+9.1% YoY); comparable sales growth of 15.1%.
- Net loss of $4.2M (diluted EPS $(0.28)) vs net income of $1.9M ($0.12) a year ago.
- Adjusted EBITDA turned negative to $(2.4)M from $6.4M.
- Gross margin fell 100 bps to 50.1%; SG&A as % of sales rose 560 bps to 40.3%.
- CEO cites strong comps and debt-free balance sheet; plans to boost product investment.

## SEC filing metadata
- accession: 0001628280-23-021163
- form_type: 8-K
- ticker: LOVE
- cik: 0001701758
- company_name: Lovesac Co
- filed_at: 2023-06-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1701758/000162828023021163/0001628280-23-021163-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1701758/000162828023021163/love-20230607.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-021163
- JSON: https://secwatch.observer/filing/0001628280-23-021163.json
- Plain text: https://secwatch.observer/filing/0001628280-23-021163.txt

## Key facts
- Earnings Releases
  Lovesac Co reported the first quarter of fiscal 2024, which ended April 30, 2023 results: revenue $141.2, net income $(4.2), EPS $(0.28).
  - Period: the first quarter of fiscal 2024, which ended April 30, 2023
  - Revenue: $141.2
  - Net income: $(4.2)
  - EPS: $(0.28)
  - Result: reported results
  source text: in millions, except per share amounts. Dollar and percentage changes may not recalculate due to rounding.) Thirteen weeks ended April 30, 2023 May 1, 2022 % Inc (Dec) Net Sales $141.2 $129.4 9.1% Gross Profit $70.7 $66.1 7.0% Gross Margin 50.1 % 51.1 % (100) bps Total Operating Expense $76.6 $63.5 20.7% SG&A $56.8 $44.9 26.6% SG&A as a % of Net Sales 40.3 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1701758/000162828023021163/0001628280-23-021163-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.