THE LOVESAC COMPANY
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $697.1M | $680.6M | $700.3M | $651.5M | $498.2M | $320.7M | $233.4M | $165.9M |
| Showrooms | — | — | $435.5M | $399.9M | $304.5M | $138.8M | $141.3M | $110.8M |
| Internet | — | — | $188.4M | $173.8M | $141.4M | $151.7M | $53.3M | $36.7M |
| Other | — | — | $76.4M | $77.8M | $52.3M | $30.2M | $38.8M | $18.4M |
| Cost of Revenue | $303.9M | $282.8M | $299.2M | $307.5M | $224.7M | $146.0M | $116.7M | $75.0M |
| Gross Profit | $393.2M | $397.8M | $401.0M | $343.7M | $273.5M | $174.8M | $116.7M | $90.9M |
| Gross Margin | 56.4% | 58.5% | 57.3% | 52.7% | 54.9% | 54.5% | 50.0% | 54.8% |
| Operating Expenses | ||||||||
| Research & Development | $7.0M | $8.4M | $7.7M | $8.4M | — | — | — | — |
| SG&A Expense | $284.0M | $281.5M | $264.3M | $216.0M | $160.0M | $111.4M | $98.1M | $76.4M |
| Operating Income | $5.4M | $13.6M | $30.1M | $37.0M | $40.6M | $14.9M | $-15.8M | $-7.0M |
| Operating Margin | 0.8% | 2.0% | 4.3% | 5.7% | 8.1% | 4.6% | -6.8% | -4.2% |
| Interest Expense | — | — | — | — | — | $87.7K | $73.0K | $121.2K |
| Pretax Income | $6.7M | $16.4M | $31.8M | $36.8M | $40.4M | $14.8M | $-15.2M | $-6.7M |
| Income Tax Expense | $2.6M | $4.9M | $8.0M | $10.4M | $-7.1M | $86.0K | $43.0K | $16.4K |
| Net Income | $4.1M | $11.6M | $23.9M | $26.5M | $47.5M | $14.7M | $-15.2M | $-6.7M |
| Net Margin | 0.6% | 1.7% | 3.4% | 4.1% | 9.5% | 4.6% | -6.5% | -4.0% |
| EPS (Basic) | $0.28 | $0.75 | $1.55 | $1.74 | $3.14 | $1.01 | $-1.07 | $-3.28 |
| EPS (Diluted) | $0.28 | $0.69 | $1.45 | $1.66 | $2.96 | $0.96 | $-1.07 | $-3.28 |
| Shares Outstanding (Basic) | 14.7M | 15.5M | 15.4M | 15.2M | 15.1M | 14.6M | 14.3M | 13.8M |
| Shares Outstanding (Diluted) | 14.7M | 16.8M | 16.5M | 16.0M | 16.1M | 15.3M | 14.3M | 13.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |