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Nov 01, 2020
Lovesac Q3 2021 Earnings Report
Reported a net sales increase of 43.5% and a comparable sales growth of 53.5%. Net income increased to $2.5 million, and Adjusted EBITDA increased to $6.0 million.
Key Takeaways
Lovesac announced strong Q3 fiscal 2021 results, exceeding expectations with a 43.5% increase in net sales and a 53.5% increase in comparable sales. The company reported a net income of $2.5 million and an Adjusted EBITDA of $6.0 million, driven by growth in internet and showroom sales.
Net sales increased by 43.5% due to a 125.2% increase in internet sales and a 27.9% increase in showroom sales.
Gross profit increased by $15.1 million, or 57.3%, driven by higher net sales and improved average retail prices.
Operating income was $2.5 million, compared to an operating loss of $6.9 million in the prior year.
Net income was $2.5 million, compared to a net loss of $6.7 million in the prior year.
Revenue by Segment
Forward Guidance
The company expects a strong year-over-year increase of 50% to 60% in Adjusted EBITDA for the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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