For the quarterly period ended July 3, 2022 OR 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 ☐ 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 ...

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 3, 2022 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 ...

LuluÂ's Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) Q4 2021 Earnings Conference Call March 31, 2022 5:00 PM ET Company Participants Naomi Beckman-Straus – General Counsel and Corporate Secretary David McCreight – Chief Executive Officer Crystal Landsem – Co-President and Chief Financial Officer Mark Vos – Co-President and Chief Information Officer Conference Call Participants Mark Altschwager – Baird Randy Konik – Jefferies Oliver Chen – Cowen & Co Brooke Roach – Goldman Sachs Alice Xiao – Bank of America D ...

Financial Performance - Net revenue for the year ended January 2, 2022, was $375.625 million, a 51% increase from $248.656 million in 2021[404] - Gross profit for the same period was $176.732 million, compared to $110.292 million in 2021, reflecting a gross margin improvement[404] - The company reported a net loss of $122.948 million for the year, significantly higher than the net loss of $19.808 million in 2021[404] - Net loss per share attributable to common stockholders was $6.08, compared to $1.13 in the previous year[404] - The company reported a net income of $2,045,000 for the year ended January 2, 2022, compared to a net loss of $19,304,000 in the prior year[409] Assets and Liabilities - Total current assets increased to $49,093,000 as of January 2, 2022, compared to $42,799,000 as of January 3, 2021, representing a growth of approximately 14.5%[401] - Cash and cash equivalents decreased to $11,402,000 in 2022 from $15,554,000 in 2021, a decline of about 26.0%[401] - Inventory increased to $22,176,000 in 2022, up from $16,895,000 in 2021, reflecting a rise of approximately 31.0%[401] - Total liabilities decreased significantly from $140,627,000 in 2021 to $69,254,000 in 2022, a reduction of about 50.8%[401] - Stockholders' equity improved to $44,522,000 in 2022 from a deficit of $169,001,000 in 2021, indicating a substantial recovery[401] Cash Flow and Investments - Net cash provided by operating activities for the year ended January 2, 2022, was $26,896,000, a significant increase from $4,856,000 in the previous year[409] - The company reported a net cash used in investing activities of $3,394,000 for the year ended January 2, 2022, compared to $1,913,000 in the previous year[409] - The company experienced a significant decrease in accounts receivable, which was $(1,816,000) for the year ended January 2, 2022, compared to an increase of $123,000 in the previous year[409] Expenses - Selling and marketing expenses increased to $66.684 million, up from $47.812 million in 2021, indicating a 39% rise in marketing efforts[404] - General and administrative expenses rose to $87.710 million from $67.155 million, marking a 30% increase[404] - The company incurred equity-based compensation expenses of $10,338,000 in 2022, up from $9,086,000 in 2021[409] Equity and Stock - The company issued and sold 5,750,000 shares of common stock at a public offering price of $16.00 per share during its IPO, resulting in net proceeds of approximately $82,000,000[417] - As of January 2, 2022, the Company had 38,421,124 shares of common stock issued and outstanding, up from 17,462,283 shares a year prior[529] - The Company recorded equity-based compensation expense of $3.2 million related to stock options during 2021[548] Taxation - The effective tax rate for the Company was 75.2% for the year ended January 2, 2022, compared to 6.2% for the previous year[560] - The total current income tax provision for the year ended January 2, 2022, was $(7,875) thousand[560] Risks and Operational Factors - The company has three distribution facilities, and any disruptions at these locations could materially affect its financial condition and operations[24] - The company relies on third-party transportation providers for merchandise shipments, and disruptions could adversely impact its business[24] - The company is exposed to market risks including foreign currency fluctuations, interest rate changes, and inflation, although currently, it does not face significant foreign currency risk[388][389] Other Financial Information - The company reported a deemed dividend to preferred stockholders of $122.962 million, reflecting the impact of preferred stock issuance[407] - The balance of accumulated stockholders' equity as of January 2, 2022, was $44.522 million, compared to a deficit of $177.596 million in the previous year[407] - The company anticipates recording right-of-use assets and operating lease liabilities between approximately $33.5 million and $37.5 million upon implementing new lease standards[478]

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 3, 2021 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 ...