Quarterly ResultJun 11, 2026, 07:11 AM
Lovesac Q1 Net Sales $138.2M, Net Loss $(11.1)M; EPS $(0.76)
AI Summary
Lovesac Co reported a slight decrease in net sales and an increased net loss for the thirteen weeks ended May 3, 2026, compared to the prior year. Net sales were $138.2 million, down from $138.4 million, while net loss widened to $11.1 million from $10.8 million. Despite the increased loss, net cash used in operating activities improved. The company also noted receiving $3.6 million in IEEPA tariff refunds subsequent to the quarter-end, which were not recognized in the current financial statements.
Key Highlights
- Net sales for Q1 2026 were $138.2 million, a slight decrease from $138.4 million in Q1 2025.
- Net loss increased to $11.1 million in Q1 2026, compared to $10.8 million in Q1 2025.
- Basic net loss per share was $(0.76) in Q1 2026, up from $(0.73) in Q1 2025.
- Gross profit decreased to $72.0 million in Q1 2026 from $74.4 million in Q1 2025.
- Net cash used in operating activities improved to $(35.4) million from $(41.4) million year-over-year.
- Cash and cash equivalents decreased to $57.0 million as of May 3, 2026, from $101.9 million on Feb 1, 2026.
- Lovesac received $3.6 million in IEEPA tariff refunds after quarter-end.
- Repurchased $2.4 million of common stock in Q1 2026.
Price Impact
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