Exhibit 99.1 Lulus Reports First Quarter 2024 Results "As we continue to make strides in evolving our product assortment, our net revenue comp for the first quarter improved modestly on a sequential quarterly basis by 250 basis points. Strong customer demand for our new and novelty products bolsters our confidence in our reorder pipeline, contributing to positive sales comparisons and favorable margin performance in several of our high-volume categories. In addition, we saw improvement in gross margin in th ...

Lulu's Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) Q4 2023 Results Conference Call March 6, 2024 5:00 PM ET Company Participants Naomi Beckman-Straus - General Counsel & Corporate Secretary Crystal Landsem - CEO Tiffany Smith - CFO Mark Vos - President & CIO Conference Call Participants Brooke Roach - Goldman Sachs Janine Stichter - BTIG Dana Telsey - Telsey Advisory Group Operator Good afternoon, and welcome to Lulu's Fourth Quarter and Fiscal Year 2023 earnings conference call. Today's call is being recor ...

Financial Performance - Fiscal Year 2023 net revenue was $355.2 million, a 19% decrease compared to 2022, driven by an 18% decrease in total orders placed[4] - Net loss for Fiscal Year 2023 was $19.3 million, compared to net income of $3.7 million in 2022[4] - Fourth quarter net revenue was $75 million, an 18% decrease compared to the fourth quarter of 2022[9] - Net income for the fiscal year ended December 31, 2023, was a loss of $19,334,000 compared to a profit of $3,725,000 for the previous year[16] - For the thirteen weeks ended December 31, 2023, the net loss was $7,230,000, compared to a net loss of $5,246,000 for the same period in 2022[35] Customer Metrics - Active customers decreased by 12% to 2.8 million from 3.2 million in 2022[4] - Active customers decreased to 2,830,000 in the fiscal year ended December 31, 2023, down from 3,223,000 the previous year[32] Profitability and Margins - Gross margin decreased by 180 basis points to 41.7%, with gross profit down 23% to $148.2 million compared to 2022[4] - Gross margin improved to 41.7% for the fiscal year ended December 31, 2023, up from 43.5% in the prior year[32] - Adjusted EBITDA for the fiscal year ended December 31, 2023, was $3,231,000, a significant decrease from $29,096,000 in the prior year[32] - The net income margin for the fiscal year ended December 31, 2023, was -5.4%, compared to 0.8% for the fiscal year ended January 1, 2023[35] - The adjusted EBITDA margin for the fiscal year ended December 31, 2023, was 0.9%, down from 6.6% in the previous year[35] Cash Flow and Debt - Free cash flow increased by 867% to $10.3 million from $1.2 million in 2022[1] - Total debt decreased by $17 million during Fiscal Year 2023, resulting in a total debt position of $8 million at the end of 2023[4] - Net cash provided by operating activities was $15,421,000 for the fiscal year ended December 31, 2023, compared to $6,199,000 in the prior year[16] - Total debt decreased to $8,000,000 as of December 31, 2023, from $25,000,000 the previous year[33] - Net debt improved to $(5,494,000) as of December 31, 2023, compared to $(14,781,000) the previous year[33] - Cash and cash equivalents at the end of the period were $2,506,000, down from $10,219,000 at the beginning of the period[16] - The company reported a net cash used in operating activities of -$5,679,000 for the thirteen weeks ended December 31, 2023[35] Future Outlook - The company expects Fiscal Year 2024 net revenue to be between $350 million and $370 million, representing a potential increase of up to 4.2% compared to 2023[9] - Adjusted EBITDA for Fiscal Year 2024 is expected to be between $5 million and $8 million, indicating a 55% to 148% increase compared to 2023[13] - The company plans to discuss growth opportunities and financial outlook for the fiscal year ending December 29, 2024, in an upcoming conference call[17] Other Financial Metrics - AOV in the fourth quarter increased by 14% to $136 compared to $119 in the fourth quarter of 2022[9] - Average order value increased to $133 for the fiscal year ended December 31, 2023, compared to $131 in the previous year[32] - Interest expense for the fiscal year ended December 31, 2023, was $1,728,000, compared to $1,103,000 in the previous year[35] - Depreciation and amortization for the fiscal year ended December 31, 2023, totaled $4,819,000, compared to $4,134,000 in the previous year[35] - Capitalized software development costs for the fiscal year ended December 31, 2023, were $2,055,000, down from $2,500,000 in the previous year[35]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-41059 Lulu's Fashion Lounge Holdings, Inc. (Exact Name of Registrant as Sp ...

Lulu's Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Naomi Beckman-Straus - General Counsel & Corporate Secretary Crystal Landsem - CEO Tiffany Smith - CFO Mark Vos - President & CIO Conference Call Participants Brooke Roach - Goldman Sachs Amy Teske - Baird Ethan Saghi - BTIG Dana Telsey - Telsey Advisory Group Operator Good afternoon, and welcome to Lulu's third quarter 2023 earnings conference call. Today's call is being reco ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-41059 Lulu's Fashion Lounge Holdings, Inc. (Exact Name of Registrant ...

Financial Data and Key Metrics Changes - The company reported net revenue of $106 million for Q2 2023, a 19% decline year-over-year, primarily due to lower top-line demand and higher-than-expected return rates [26][58] - Gross margins for Q2 2023 were 44.7%, down 110 basis points year-over-year but improved sequentially by 300 basis points from Q1 2023 [28][26] - Adjusted EBITDA for Q2 2023 was $4.2 million, compared to $14.8 million in Q2 2022, reflecting lower demand and higher returns [33][65] - The company ended the quarter with cash of approximately $6 million and net debt of roughly $9 million, expecting to reduce net debt to less than $5 million by year-end [34][41] Business Line Data and Key Metrics Changes - Active customer count decreased to 3.1 million at the end of Q2 2023, down 5% from Q2 2022 and 3% from Q1 2023 [60][13] - The company observed a higher return rate in Q2, attributed to a shift in product mix towards items like dresses, which typically have higher return rates [19][27] Market Data and Key Metrics Changes - The competitive environment has intensified, particularly at entry price points, but the company aims to maintain its focus on attainable luxury products rather than competing in fast fashion [3][4] - The company is adapting to macroeconomic pressures, including inflation and student loan repayments, which are expected to impact discretionary spending among its target demographic [4][72] Company Strategy and Development Direction - The company is shifting marketing spend from performance marketing to brand awareness to enhance customer engagement and brand positioning [14][68] - A new retail location on Melrose Avenue in Los Angeles is being opened to enhance in-person customer engagement and test the physical retail model [69][70] - The company is diversifying its global carrier networks to optimize shipping costs and improve customer experience [67][66] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing volatility in consumer demand due to macroeconomic factors, leading to a reduction in full-year 2023 guidance [72][38] - The company remains focused on managing costs and driving efficiencies while investing in long-term growth opportunities [61][72] Other Important Information - The company is leveraging AI across various business aspects, including customer lifetime value and inventory optimization, to enhance competitive advantage [23][24] - The company plans to invest between $5 million and $6 million in capital expenditures for the year, focusing on distribution center automation and new retail locations [43][42] Q&A Session Summary Question: Update on competitive environment and consumer engagement - Management acknowledged increased competition, particularly at lower price points, but emphasized a focus on attainable luxury products [3] Question: Details on revenue guidance and macro assumptions - Management highlighted the impact of student loan repayments on discretionary spending and adjusted revenue guidance accordingly [4] Question: Gross margin expectations for the back half of the year - Management expects gross margins to improve year-over-year in Q3 and Q4 due to shipping cost rationalization [9] Question: Insights on customer behavior and product performance - Management noted a gradual improvement in year-over-year revenue comparisons throughout Q2, with a focus on novelty and newness in product offerings [77][79] Question: International market opportunities - Management indicated that international sales are currently small but present significant growth potential as barriers are removed [82][85]

[Part I - Financial Information](index=5&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) This section provides the unaudited condensed consolidated financial statements, management's discussion and analysis, and disclosures on market risk and internal controls [Financial Statements (unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the thirteen and twenty-six weeks ended July 2, 2023, including balance sheets, statements of operations, statements of stockholders' equity, and statements of cash flows [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This subsection details the company's financial position as of July 2, 2023, and January 1, 2023, highlighting changes in assets, liabilities, and equity Balance Sheet Highlights (in thousands) | Account | July 2, 2023 | January 1, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $5,947 | $10,219 | | Inventory, net | $46,232 | $43,186 | | Total current assets | $67,602 | $69,019 | | Total assets | $164,702 | $167,204 | | **Liabilities & Equity** | | | | Revolving line of credit | $15,000 | $25,000 | | Total current liabilities | $57,037 | $47,646 | | Total liabilities | $100,028 | $102,311 | | Total stockholders' equity | $64,674 | $64,893 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20(Loss)%20Income) This subsection presents the company's financial performance, including revenue, gross profit, and net income/loss, for the thirteen and twenty-six weeks ended July 2, 2023 Statement of Operations Highlights (in thousands, except per share data) | Metric | Thirteen Weeks Ended July 2, 2023 | Thirteen Weeks Ended July 3, 2022 | Twenty-Six Weeks Ended July 2, 2023 | Twenty-Six Weeks Ended July 3, 2022 | | :--- | :--- | :--- | :--- | :--- | | Net revenue | $106,122 | $131,512 | $197,098 | $243,414 | | Gross profit | $47,396 | $60,167 | $85,357 | $113,145 | | (Loss) income from operations | $(1,670) | $10,924 | $(7,546) | $14,182 | | Net (loss) income | $(2,597) | $5,999 | $(8,215) | $8,042 | | Diluted EPS | $(0.07) | $0.15 | $(0.21) | $0.21 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This subsection outlines the company's cash inflows and outflows from operating, investing, and financing activities for the twenty-six weeks ended July 2, 2023 Cash Flow Summary (in thousands) | Cash Flow Activity | Twenty-Six Weeks Ended July 2, 2023 | Twenty-Six Weeks Ended July 3, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $8,351 | $10,588 | | Net cash used in investing activities | $(1,752) | $(2,738) | | Net cash used in financing activities | $(10,871) | $(10,909) | | **Net decrease in cash** | **$(4,272)** | **$(3,059)** | - The decrease in cash from operating activities was primarily due to a shift from net income of **$8.0 million** in the prior year period to a net loss of **$8.2 million** in the current period, partially offset by favorable changes in working capital, such as a significant decrease in inventory purchases[174](index=174&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations of accounting policies, debt facilities, lease obligations, and equity-based compensation plans - Changing macroeconomic factors, including inflation and interest rates, have directly impacted sales in the first half of 2023 by affecting discretionary consumer spending levels[33](index=33&type=chunk)[112](index=112&type=chunk) - The company has a **$50.0 million** revolving credit facility. As of July 2, 2023, **$15.0 million** was outstanding, with **$34.7 million** available for borrowing. The facility matures on November 15, 2024[60](index=60&type=chunk)[168](index=168&type=chunk) - In Q1 2023, the company granted **1,811,572 RSUs** and **1,811,571 Performance Stock Units (PSUs)** to the new CEO, Crystal Landsem. The PSUs vest based on stock price targets and continued employment[95](index=95&type=chunk)[98](index=98&type=chunk) - The company's effective tax rate calculation method was changed from a discrete method in Q1 2023 to an estimated annual effective tax rate method in Q2 2023 due to updated financial projections, requiring a true-up adjustment[104](index=104&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a challenging quarter with a 19% year-over-year revenue decline due to macroeconomic pressures, impacting key metrics and leading to a focus on inventory management and liquidity [Key Operating and Financial Metrics](index=36&type=section&id=Key%20Operating%20and%20Financial%20Metrics) This subsection presents key operating and financial metrics, including Active Customers, Average Order Value, Gross Margin, and Adjusted EBITDA, for Q2 2023 versus Q2 2022 Key Metrics Comparison (Q2 2023 vs Q2 2022) | Metric | Thirteen Weeks Ended July 2, 2023 | Thirteen Weeks Ended July 3, 2022 | Change | | :--- | :--- | :--- | :--- | | Active Customers (in thousands) | 3,080 | 3,250 | (5.2)% | | Average Order Value | $135 | $137 | (1.5)% | | Gross Margin | 44.7% | 45.8% | (1.1) p.p. | | Adjusted EBITDA (in thousands) | $4,219 | $14,793 | (71.5)% | | Adjusted EBITDA Margin | 4.0% | 11.2% | (7.2) p.p. | - Adjusted EBITDA is reconciled from net (loss) income by adding back depreciation & amortization, interest expense, income taxes, and equity-based compensation expense[121](index=121&type=chunk)[126](index=126&type=chunk) [Results of Operations](index=46&type=section&id=Results%20of%20Operations) This subsection provides a detailed comparison of financial results for Q2 and the first half of 2023 versus the same periods in 2022, highlighting revenue decline and expense changes - **Q2 2023 vs Q2 2022:** Net revenue decreased by **$25.4 million (19%)**, primarily from a **16% decrease in Total Orders Placed**, a **1% decrease in Average Order Value (AOV)**, and higher markdowns[149](index=149&type=chunk) - **YTD 2023 vs YTD 2022:** Net revenue decreased by **$46.3 million (19%)**, driven by a **15% decrease in Total Orders Placed** and a **2% decrease in AOV**[156](index=156&type=chunk) - Selling and marketing expenses for Q2 2023 decreased by **5%** due to lower performance marketing spend, partially offset by higher brand marketing investments[152](index=152&type=chunk) - General and administrative expenses for Q2 2023 increased by **4% ($1.0 million)**, mainly due to **$1.6 million** in higher equity-based award costs and increased fixed payroll[153](index=153&type=chunk) [Liquidity and Capital Resources](index=52&type=section&id=Liquidity%20and%20Capital%20Resources) This subsection details the company's liquidity sources, including cash from operations and its revolving credit facility, and assesses their sufficiency for future needs - Primary liquidity sources are cash generated from operations and borrowings under the **$50.0 million Revolving Facility**[167](index=167&type=chunk) - As of July 2, 2023, the company had **$5.9 million** in cash and cash equivalents and **$15.0 million** outstanding on its revolving line of credit[168](index=168&type=chunk)[170](index=170&type=chunk) - The company was in compliance with all financial covenants under its Credit Agreement as of July 2, 2023[169](index=169&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section reports no material changes in the company's exposure to market risk compared to previous disclosures - There has been no material change in the company's exposure to market risk from that discussed in the 2022 10-K[183](index=183&type=chunk) [Controls and Procedures](index=55&type=section&id=Item%204.%20Controls%20and%20Procedures) This section confirms the effectiveness of the company's disclosure controls and procedures, with no material changes to internal control over financial reporting - Management, including the CEO and CFO, concluded that as of July 2, 2023, the company's disclosure controls and procedures were effective[187](index=187&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal controls[188](index=188&type=chunk) [Part II - Other Information](index=57&type=section&id=PART%20II%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, and other information, including executive trading plans [Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) The company states it is not currently involved in any legal proceedings that would materially adversely affect its business or financial condition - The company is not presently a party to any legal proceedings that it believes would materially and adversely affect its future business or financial condition[190](index=190&type=chunk) [Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K - There have been no material changes to the risk factors previously disclosed in the company's 2022 Form 10-K[191](index=191&type=chunk) [Other Information](index=57&type=section&id=Item%205.%20Other%20Information) This section discloses that several executive officers and directors have adopted Rule 10b5-1 trading plans for the orderly disposition of their securities - Several executive officers and directors have adopted Rule 10b5-1 trading plans to permit the orderly disposition of their holdings[195](index=195&type=chunk)[196](index=196&type=chunk)

Financial Data and Key Metrics Changes - Revenues for Q1 2023 amounted to $91 million, representing a 19% decline compared to Q1 2022, but a 32% increase compared to Q1 2021, aligning with expectations given tough comparisons from the previous year [18][46] - Adjusted EBITDA was breakeven, compared to $9.9 million in Q1 2022, reflecting the impact of a challenging macro environment [18][48] - Gross margin for Q1 2023 declined by about 560 basis points from Q1 2022 to 41.7%, but improved sequentially by 440 basis points [27] Business Line Data and Key Metrics Changes - The dress category performed consistently, with non-wedding related special occasion categories showing strength, while wedding-related products met expectations despite tough comparisons from last year [8] - Bridal and special occasion dresses net sales in Q1 2023 were up roughly 80% compared to Q1 2021 and up 29% compared to Q1 2019, indicating market share gains [8] Market Data and Key Metrics Changes - Active customer count increased year-over-year to 3.2 million, up 6% from Q1 2022, demonstrating brand loyalty [7][11] - Customer acquisition was strongest in lower household income brackets, reflecting the effectiveness of the company's affordable luxury positioning [11][39] Company Strategy and Development Direction - The company is focused on long-term growth initiatives while managing expenses judiciously, with a strong balance sheet and capital-efficient cash flow model [6][7] - Plans include expanding international growth and enhancing the customer experience through improved digital channels and operational efficiencies [19][20] - The company aims to shift marketing spend from direct response to brand awareness, enhancing overall marketing efficiency [24][66] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the macroeconomic challenges but noted a soft upward trend in demand as Q2 progressed, with improvements in weekly year-over-year gross revenue comparisons [26][34] - The company expects to maintain revenue guidance of $410 million to $430 million for the year, with adjusted EBITDA projected between $23.1 million and $25.6 million [10][51] Other Important Information - The company has implemented robotics in its distribution centers to improve operational efficiency and reduce costs [13] - Inventory levels at the end of Q1 were $52 million, up about $10 million from the same period last year, with plans to reduce inventory levels sequentially and year-over-year by the end of Q2 [29][49] Q&A Session Summary Question: Improvement in trend quarter to date - Management noted a soft upward turn in demand with noticeable week-over-week improvements, attributing it to a longer selling period for fall/winter products [34][35] Question: Customer acquisition costs and margin outlook - Customer acquisition costs increased due to a focus on brand awareness marketing, but management remains confident in margin improvement through reduced promotions and proactive product costing efforts [37][38] Question: Customer behavior across income brackets - The company observed strong performance in middle to lower income brackets, with new customer acquisition driven by a mix of promotions and brand interest [39] Question: Expectations for shipping costs and return rates - Management expects shipping-related costs to moderate and return rates to follow seasonal trends, with higher rates anticipated in Q2 and Q3 [40][42]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 2, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-41059 Lulu's Fashion Lounge Holdings, Inc. (Exact Name of Registrant a ...