Lovesac Q4 net sales +5% to $250.5M; FY sales $700.3M (+7.5%); net income up 18% in Q4, down 10% for FY

Lovesac Co

Q4 net sales $250.5M (+5.0% YoY); net income $31.0M (+18.1%), diluted EPS $1.87.
Fiscal 2024 net sales $700.3M (+7.5%); net income $23.9M (-9.9%), diluted EPS $1.45.
Gross margin expanded 360 bps to 59.7% in Q4; 450 bps to 57.3% for full year.
Adjusted EBITDA Q4 $48.4M (+3.6%); FY $54.0M (-7.4%). Operating cash flow $76.4M.
Fiscal 2024 included a 53rd week; comparisons are to 52-week prior year.

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