---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-029668"
form_type: "8-K"
ticker: "LOVE"
cik: "0001701758"
company_name: "Lovesac Co"
filed_at: "2023-08-16T23:59:59+00:00"
generated_at: "2026-06-11T08:34:40.256535+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lovesac restates FY2023 & Q1 FY2024; operating income overstated by up to $3M

## Summary
- Audit Committee investigation found $2.2M journal entry capitalizing shipping expenses that related to prior year.
- Operating income for FY2023 overstated by ~$2.0M to $3.0M; net income overstated by ~$1.5M to $2.5M.
- For the 13 weeks ended April 30, 2023, errors overstated operating and net income by less than $0.5M each.
- Company expects one or more material weaknesses in internal control over financial reporting to be identified.
- Previously filed 10-K for FY2023, 10-Q for Q1 FY2024, and related earnings communications should no longer be relied upon.

## SEC filing metadata
- accession: 0001628280-23-029668
- form_type: 8-K
- ticker: LOVE
- cik: 0001701758
- company_name: Lovesac Co
- filed_at: 2023-08-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1701758/000162828023029668/0001628280-23-029668-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1701758/000162828023029668/love-20230815.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-029668
- JSON: https://secwatch.observer/filing/0001628280-23-029668.json
- Plain text: https://secwatch.observer/filing/0001628280-23-029668.txt

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