Financial Performance - Net sales for the thirteen weeks ended November 2, 2025, were $150,166, a slight increase from $149,905 for the same period in 2024, representing a growth of 0.2%[20] - Gross profit for the thirty-nine weeks ended November 2, 2025, was $249,215, compared to $252,053 for the same period in 2024, indicating a decrease of 1.1%[20] - The net loss for the thirteen weeks ended November 2, 2025, was $10,551, compared to a net loss of $4,930 for the same period in 2024, reflecting an increase in losses of 114%[20] - Operating loss for the thirty-nine weeks ended November 2, 2025, was $39,581, compared to $33,950 for the same period in 2024, an increase of 16.5%[20] - For the thirteen weeks ended November 2, 2025, total net sales were $150.2 million, a slight increase from $149.9 million for the same period in 2024[40] - The company reported a net cash used in operating activities of $34,093 for the thirty-nine weeks ended November 2, 2025, compared to $5,046 for the same period in 2024, indicating a significant increase in cash outflow[24] - For the thirty-nine weeks ended November 2, 2025, total net sales were $449.069 million, compared to $439.138 million for the same period in 2024, representing a 2.1% increase[75] - The basic and diluted net loss per share for the thirteen weeks ended November 2, 2025, was $0.72, compared to $0.32 for the same period in 2024, indicating a significant decline in earnings per share[48] Assets and Liabilities - Total current assets decreased from $246,597 as of February 2, 2025, to $185,986 as of November 2, 2025, a decline of 24.5%[18] - Total liabilities decreased from $315,895 as of February 2, 2025, to $306,207 as of November 2, 2025, a reduction of 3.4%[18] - Cash and cash equivalents dropped significantly from $83,734 as of February 2, 2025, to $23,722 as of November 2, 2025, a decrease of 71.6%[18] - As of November 2, 2025, customer deposit liabilities amounted to $8.7 million, down from $11.3 million as of February 2, 2025[38] - As of November 2, 2025, the company's borrowing availability under the line of credit was $36,000,000, up from $32,600,000 as of February 2, 2025, indicating improved liquidity[58] Sales Channels - Showroom sales accounted for $102.7 million, representing a 12.1% increase from $91.0 million in the prior year[40] - Internet sales decreased to $37.3 million from $44.9 million, a decline of 16.9% year-over-year[40] - Net sales from showrooms constituted 68.4% and 60.7% of total net sales for the thirteen weeks ended November 2, 2025, and November 3, 2024, respectively[88] - Ecommerce sales represented 24.8% and 29.9% of total net sales for the thirteen weeks ended November 2, 2025, and November 3, 2024, respectively[88] - Other net sales, including pop-up-shop sales, accounted for 6.8% and 9.4% of total net sales for the thirteen weeks ended November 2, 2025, and November 3, 2024, respectively[90] Expenses - Research and development expenses were $2.3 million for both the thirteen weeks ended November 2, 2025, and November 3, 2024[34] - Shipping and handling costs increased to $31.3 million for the thirteen weeks ended November 2, 2025, compared to $26.1 million in the prior year, reflecting a 19.7% increase[36] - Total lease expense for the thirty-nine weeks ended November 2, 2025, was $31,490,000, an increase from $30,086,000 for the same period in 2024, reflecting a year-over-year increase of approximately 4.7%[49] - Selling, general and administrative (SG&A) expenses rose by $3.2 million, or 4.5%, with SG&A as a percentage of net sales increasing to 49.9% from 47.9%[110] - Advertising and marketing expenses are projected to rise as the company drives net sales growth[101] Equity and Stock - The company incurred $8,201 in equity-based compensation for the thirty-nine weeks ended November 2, 2025, compared to $6,687 for the same period in 2024, an increase of 22.6%[24] - The company recognized equity-based compensation expense of $2.4 million for the thirteen weeks ended November 2, 2025, compared to $2.8 million for the same period in 2024[66] - The total unrecognized equity-based compensation cost related to unvested RSU and PSU awards was approximately $20.3 million as of November 2, 2025[67] - The company repurchased and retired 306,325 shares of common stock for $6.0 million during the thirty-nine weeks ended November 2, 2025[70] - As of November 2, 2025, approximately $14.1 million remained available for future purchases under the share repurchase program[71] Legal and Compliance - The company has been involved in multiple legal proceedings, including a derivative action that was settled on October 2, 2025, concluding the litigation[54] - There were no material changes in internal control over financial reporting during the quarter ended November 2, 2025[147] Future Outlook - The company expects gross profit to increase as net sales grow and scale economics are realized with manufacturing partners[97] - Selling, general and administrative expenses are expected to increase as the company continues to grow its business[100] - The company continues to monitor inflationary pressures and their impact on costs, implementing pricing strategies and productivity improvements[144] - Macroeconomic factors such as inflation and elevated interest rates have negatively impacted demand, contributing to a slowdown in business[85]

Financial Performance - Q3 FY26 net sales increased by 0.2% to $150.2 million compared to Q3 FY25, driven by showroom growth despite declines in internet and other sales channels[1][3][7] - Showroom sales rose by 12.8% to $102.7 million, while internet sales decreased by 16.9% to $37.3 million in Q3 FY26[3][7] - Gross profit decreased by $3.4 million, or 3.9%, with gross margin declining 240 basis points to 56.1% due to increased transportation and tariff costs[3][7] - SG&A expenses increased by 4.5% to $75.0 million, primarily due to payroll and overhead costs[3][7] - The operating loss for Q3 FY26 was $15.8 million, compared to a loss of $7.7 million in the prior year, resulting in an operating margin of (10.5)%[3][7] - Net loss for Q3 FY26 was $10.6 million, or $(0.72) per share, compared to a net loss of $4.9 million, or $(0.32) per share, in Q3 FY25[3][7] - The operating loss for the thirteen weeks ended November 2, 2025, was $15.804 million, compared to a loss of $7.723 million in the prior year, indicating a significant increase in losses[22] - The net loss for the thirty-nine weeks ended November 2, 2025, was $28.041 million, compared to a net loss of $23.751 million for the same period in 2024, representing an increase of approximately 18%[22] - For the thirteen weeks ended November 2, 2025, the net loss was $10,551,000 compared to a net loss of $4,930,000 for the same period in 2024, representing a year-over-year increase in losses of approximately 114%[26] - The total net loss for the thirty-nine weeks ended November 2, 2025 was $28,041,000, compared to a net loss of $23,751,000 for the same period in 2024, indicating an increase in losses of about 18%[26] Cash and Assets - Cash and cash equivalents decreased to $23.7 million as of November 2, 2025, down from $61.7 million a year earlier[9] - Cash and cash equivalents decreased to $23.722 million as of November 2, 2025, down from $83.734 million at the beginning of the period[24] - Total current assets decreased to $185.986 million as of November 2, 2025, compared to $246.597 million as of February 2, 2025[20] - Total merchandise inventory increased to $129.7 million as of November 2, 2025, primarily due to increased freight capitalization and planned stock inventory[9] - Total liabilities as of November 2, 2025, were $306.207 million, a decrease from $315.895 million as of February 2, 2025[20] Future Outlook - The company aims to reach three million Lovesac households by 2030, focusing on product innovation and marketing evolution[2] - For the full year of fiscal 2026, the company expects net sales in the range of $685 million to $705 million and adjusted EBITDA between $37 million and $43 million[14] Expenses and Other Financial Metrics - The company reported a net cash used in operating activities of $34.093 million for the thirty-nine weeks ended November 2, 2025, compared to $5.046 million for the same period in 2024[24] - The company incurred $18.211 million in capital expenditures for property and equipment during the thirty-nine weeks ended November 2, 2025[24] - Interest income, net for the thirty-nine weeks ended November 2, 2025 was $(632,000), down from $(2,139,000) in the same period of 2024, indicating a decrease of approximately 70%[26] - Depreciation and amortization expenses for the thirty-nine weeks ended November 2, 2025 totaled $11,451,000, up from $10,924,000 in the same period of 2024, marking an increase of about 4.8%[26] - Equity-based compensation expenses for the thirty-nine weeks ended November 2, 2025 were $8,337,000, an increase from $6,748,000 in the same period of 2024, representing a growth of approximately 23.5%[26] Non-Recurring Expenses - The company reported a total of $3,397,000 in other non-recurring expenses for the thirteen weeks ended November 2, 2025, which included severance and professional fees related to financial statement restatements[27] - Other non-recurring expenses for the thirty-nine weeks ended November 2, 2025 included impairment charges related to the Best Buy partnership discontinuation[27] - The company incurred a loss on disposal of assets amounting to $2,000 for the thirteen weeks ended November 2, 2025, compared to $12,000 for the same period in 2024[27] Tax and Income - The income tax benefit for the thirteen weeks ended November 2, 2025 was $(5,047,000), compared to $(2,092,000) for the same period in 2024, reflecting an increase in tax benefits of approximately 141%[26]

Q3 FY26 Net Sales Increased 0.2% to $150.2 Million vs. Q3 FY25STAMFORD, Conn., Dec. 11, 2025 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the Designed for Life home and technology brand best known for its Sactionals, The World's Most Adaptable Couch, today announced financial results for the third quarter of fiscal 2026, which ended November 2, 2025. Shawn Nelson, Chief Executive Officer, stated, “Our focus on secular growth initiatives such as new products and the be ...

The Lovesac Company (NASDAQ:LOVE) will release earnings results for the third quarter before the opening bell on Thursday, Dec. 11.Analysts expect the Stamford, Connecticut-based company to report quarterly loss at 46 cents per share, versus a year-ago loss of 1 cent per share. The consensus estimate for Lovesac's quarterly revenue is $154.17 million. Last year, it reported $149.91 million in revenue, according to Benzinga Pro.On Nov. 20, Lovesac named Wan Ling Martello to its board of directors.Shares of L ...

Core Insights - The Lovesac Company is set to release its third-quarter earnings results on December 11, with analysts predicting a loss of 46 cents per share compared to a loss of 1 cent per share in the same quarter last year [1] - The expected quarterly revenue for Lovesac is $154.17 million, which shows a slight increase from last year's revenue of $149.91 million [1] Analyst Ratings - Maxim Group analyst Tim Forte maintains a Buy rating with a revised price target of $33, down from $38 [3] - DA Davidson analyst Michael Baker also holds a Buy rating with a price target of $24 [3] - Canaccord Genuity analyst Maria Ripps maintains a Buy rating with a price target of $30 [3] - Oppenheimer analyst Brian Nagel has an Outperform rating with a price target of $35 [3] - Roth MKM analyst Matt Koranda maintains a Buy rating and has raised the price target from $22 to $28 [3] Stock Performance - Shares of Lovesac fell by 1.5%, closing at $13.74 [2]

Core Insights - Analysts project that Lovesac (LOVE) will report a quarterly loss of -$0.70 per share, reflecting a decline of 118.8% year over year, with revenues expected to reach $153.81 million, an increase of 2.6% from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a reassessment of initial estimates by covering analysts [1][2] Revenue Estimates - 'Net Sales- Other' is projected to be $9.31 million, indicating a year-over-year decline of 33.5% [4] - 'Net Sales- Internet' is estimated at $43.54 million, reflecting a year-over-year decrease of 3% [4] - 'Net Sales- Showrooms' is expected to reach $101.01 million, showing an increase of 11% from the prior-year quarter [4] Showroom Metrics - The average prediction for 'Ending Showroom Count' is 278, up from 258 in the same quarter of the previous year [5] - Shares of Lovesac have increased by 4.3% over the past month, outperforming the Zacks S&P 500 composite, which moved up by 1.2% [5] - Lovesac holds a Zacks Rank 3 (Hold), suggesting it is expected to mirror overall market performance in the near future [5]

Core Insights - The Lovesac Company will release its third quarter financial results on December 11, 2025, before market open, followed by a conference call at 8:30 a.m. Eastern Time to discuss the results [1]. Company Overview - The Lovesac Company, based in Stamford, Connecticut, is a technology-driven brand that designs, manufactures, and sells high-quality furniture through its proprietary "Designed for Life" approach, focusing on durability and adaptability [3]. - The product lineup includes modular couches known as Sactionals, Sactionals Reclining seats, premium foam beanbag chairs called Sacs, the PillowSac Chair, an immersive surround sound system named StealthTech, and an innovative sofa solution called Snugg™ [3]. - The company emphasizes responsible production and innovation, having received awards such as Repreve's 8th Annual Champions of Sustainability Award and Edison Awards' 38th Annual Best New Product Awards for Sustainable Consumer Products [3]. - Products are primarily marketed and sold online at www.lovesac.com, complemented by a physical retail presence through Lovesac branded showrooms and partnerships with third-party retailers [3].

Core Insights - Cannara Biotech Inc. reported its strongest annual performance in Fiscal 2025, achieving record revenues and significant growth across key financial metrics [3][5][8] - The company increased its national market share by nearly 32% year-over-year, reaching 3.81%, with a notable 53% increase in Quebec, bringing its market share to 12.72% [3][5][20] - Cannara plans to expand its cultivation capacity by approximately 100% over the next four years through the operationalization of additional grow rooms [3][15] Financial Performance - Record net revenues of $107.3 million for Fiscal 2025, a 31% increase from $82.2 million in Fiscal 2024 [5][8] - Adjusted EBITDA rose by 86% to $28.1 million, while net income increased by 103% to $13.1 million [11][24] - Operating cash flow reached $20 million, and free cash flow was $13.7 million for the fiscal year [5][11] Operational Highlights - Gross cannabis revenue before excise taxes increased by 35% to $148.6 million, driven by market penetration and new product offerings [8][11] - The company successfully activated two additional grow zones, increasing total annual production capacity to 39,500 kilograms, achieving its Fiscal 2026 production target ahead of schedule [13][14] - Cannara's disciplined approach to expansion focuses on maintaining margins while enhancing brand recognition across its product lines [14][16] Market Share Expansion - The company’s market share in various provinces showed significant growth, with Manitoba increasing by 342% and Nova Scotia by 860% [20] - Cannara's strategic entry into Quebec's new vape cartridge category with five approved SKUs is expected to further strengthen its market position [16][20] Future Outlook - The company is prioritizing capital investments for a new processing center, supported by a $10 million term loan from BMO, with completion expected by the end of Fiscal 2026 [15][22] - Cannara plans to operationalize three additional grow zones in preparation for future cultivation expansion [15][22]

Core Insights - The Lovesac Company has appointed Wan Ling Martello to its Board of Directors, effective November 20, 2025, enhancing its leadership team with her extensive experience in consumer and retail sectors [1][2]. Company Overview - The Lovesac Company, based in Stamford, Connecticut, is a technology-driven furniture brand known for its modular couches called Sactionals and other innovative products designed to evolve with customers' lives [5]. Leadership Experience - Wan Ling Martello has a strong background in driving transformational growth at major consumer and retail companies, including roles as global CFO at Nestlé and senior executive at Walmart, focusing on digital transformation and consumer engagement [2][3]. Strategic Focus - Martello's expertise in data-driven resource allocation and digital transformation aligns with Lovesac's mission as a technology-driven furniture company, which is crucial for navigating its next growth phase [2][3]. Current Roles - In addition to her new role at Lovesac, Martello is currently on the board of the Alibaba Group, further showcasing her extensive industry connections and experience [4].

Core Points - Cannara Biotech Inc. will release its financial results for the fiscal fourth quarter and fiscal year ended August 31, 2025, on November 24, 2025, at 7:00 a.m. ET [1] - The earnings webcast will be hosted by CEO Zohar Krivorot and CFO Nicholas Sosiak on the same day at 11:00 a.m. ET, featuring prepared remarks and a Q&A session [2] - Investors are encouraged to submit questions in advance via email, with priority given to those submitted before the session [3] Board Update - The company announced the passing of Jack M. Kay, a long-serving member of the Board of Directors, who contributed over five decades of leadership experience in the pharmaceutical sector [4][5] - Mr. Kay held several senior executive positions at Apotex Inc. and served in key leadership roles across various pharmaceutical and biotechnology organizations [5] - The company extends its condolences to Mr. Kay's family and expresses gratitude for his contributions [6] Company Overview - Cannara Biotech Inc. is a vertically integrated producer of premium-grade cannabis products, operating two mega facilities in Québec that span over 1,650,000 sq. ft. [8] - The company has a potential annualized cultivation output of 100,000 kg, leveraging low electricity costs in Québec to produce affordable premium-grade cannabis [8]