Lovesac Q3 net sales up 14.3% to $154M; net loss narrows 68.2%

Lovesac Co

2024-Q3 EPS reported -$0.46 revenue$449,758,000

Net sales $154.0M vs $134.8M a year ago, growth of 14.3% on top of 15.5% prior-year growth.
Gross margin expanded 920 bps to 57.4% from 48.2%, driven by cost improvement and pricing.
Net loss improved 68.2% to $(2.3M) from $(7.4M); diluted EPS $(0.15) vs $(0.48).
Adjusted EBITDA turned positive at $2.5M versus $(6.9M) in Q3 last year.
Operating cash flow used $7.2M vs $(5.5M) used; year-to-date operating cash flow $20.1M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lovesac Co reported third quarter of fiscal 2024, which ended October 29, 2023 results: revenue $154.0, net income $(2.3), EPS $(0.15) per diluted share.

Period: third quarter of fiscal 2024, which ended October 29, 2023
Revenue: $154.0
Net income: $(2.3)
EPS: $(0.15) per diluted share
Result: reported results

Exact text from the filing

recalculate due to rounding.) Thirteen weeks ended Thirty-nine weeks ended October 29, 2023 October 30, 2022 % Inc (Dec) October 29, 2023 October 30, 2022 % Inc (Dec) Net sales $154.0 $134.8 14.3% $449.8 $412.7 9.0% Gross profit $88.4 $64.9 36.3% $251.4 $210.0 19.7% Gross margin 57.4 % 48.2 % 920 bps 55.9 % 50.9 % 500 bps Total operating expenses $92.1 $75.0

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Source: SEC EDGAR

accession 0001628280-23-040827

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