Lovesac Co

Listed Company

LOVECIK 0001701758NasdaqAcceleratedRetail-Furniture StoresDelawareFY ends Feb 4

Period

FY 2026

Revenue

$697.12M

Net Income

$4.07M

Total Assets

$534.68M

Equity

$218.71M

Shares Out

14.62M

Op. Cash Flow

$49.33M

Business

Lovesac Co is a technology-driven furniture company that designs, manufactures and sells durable, adaptable home furnishings using its “Designed for Life” approach. It offers modular Sactionals couches, premium Sacs foam beanbag chairs, the StealthTech immersive sound and charging system, and related innovations such as the PillowSac Accent Chair, AnyTable and reclining components. Its business is organized around core product platforms—Sactionals, Sacs and Other accessories—along with the StealthTech line and complementary accessories. Lovesac markets and distributes primarily in the United States through an omni-channel platform of showrooms, mobile concierge kiosks, ecommerce, pop-ups, shop-in-shops and express-courier delivery, while sourcing from global manufacturing partners.

Summary from filing dated 2025-04-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Net sales	697	681	700	651	498
Cost of merchandise sold	304	283	299	308	225
Gross profit	393	398	401	344	274
Selling, general and administrative expenses	284	281	264	216	160
Advertising and marketing	89	88	94	80	65
Depreciation and amortization	15	15	13	11	8
Total operating expenses	388	384	371	307	233
Operating income	5	14	30	37	41
Interest and other income, net	1	3	2	−117,000	—
Net income before taxes	7	16	32	37	40
Income tax expense	3	5	8	10	7
Net income	4	12	24	26	47
Basic (in dollars per share)	0.28	0.75	1.55	1.74	3.14
Diluted (in dollars per share)	0.28	0.69	1.45	1.66	2.96
Basic (in shares)	15	16	15	15	15
Diluted (in shares)	15	17	16	16	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Cash and cash equivalents	102	84	87	44	92
Trade accounts receivable, net	12	17	13	9	9
Merchandise inventories, net	106	124	98	120	108
Prepaid expenses	10	15	12	10	—
Other current assets	6	7	4	5	—
Total Current Assets	237	247	214	188	225
Property and equipment, net	86	78	71	53	34
Operating lease right-of-use assets	163	158	156	135	101
Goodwill	144,000	144,000	144,000	144,000	144,000
Intangible assets, net	2	2	1	1	1
Deferred tax asset	13	15	11	9	10
Other assets	32	33	29	22	0
Total Assets	535	532	482	409	372
Accounts payable	44	52	29	25	33
Accrued expenses	39	52	39	25	40
Payroll payable	22	10	7	7	10
Customer deposits	12	11	8	7	13
Current operating lease liabilities	24	23	18	13	16
Sales taxes payable	7	8	6	5	5
Total Current Liabilities	147	155	106	82	119
Operating lease liabilities, long-term	168	160	158	133	97
Income tax payable, long-term	464,000	424,000	452,000	0	—
Line of credit	0	0	0	0	0
Total Liabilities	316	316	265	216	215
Commitments and Contingencies (See Note 7)	—	—	—	—	—
Preferred stock $0.00001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of February 1, 2026 and February 2, 2025.	0	0	0	0	0
Common stock $0.00001 par value, 40,000,000 shares authorized, 14,617,238 shares issued and outstanding as of February 1, 2026 and 14,786,934 shares issued and outstanding as of February 2, 2025.	0	0	0	0	0
Additional paid-in capital	195	191	183	183	174
Accumulated earnings	24	26	34	11	−18
Stockholders Equity	219	216	217	193	158
Total Liabilities and Stockholders Equity	535	532	482	409	372

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Depreciation and amortization of property and equipment	15	14	12	11	7
Amortization of other intangible assets	300,000	400,000	400,000	400,000	700,000
Amortization of deferred financing fees	73,000	127,000	159,000	164,000	91,000
Net loss on disposal of property and equipment	466,000	140,000	235,000	45,000	464,000
Gain on lease termination	−167,000	0	−131,000	0	0
Impairment of long-lived assets	2	0	0	0	600,000
Equity based compensation	6	8	4	10	6
Non-cash lease expense	27	25	23	19	15
Deferred income taxes	2	−4	−2	1	−10
Trade accounts receivable	5	−3	−4	−555,000	−4
Merchandise inventories	18	−26	21	−11	−57
Prepaid expenses and other current assets	5	−6	−164,000	3	968,000
Other assets	486,000	−4	−6	−21	−1
Accounts payable	−9	22	3	−13	—
Accrued expenses and other payables	−1	18	14	−19	38
Operating lease liabilities	−25	−20	−14	−22	−19
Customer deposits	294,000	3	1	−7	7
Other liabilities	40,000	−28,000	452,000	0	0
Net cash provided by operating activities	49	39	76	−21	33
Purchase of property and equipment	−23	−21	−29	−25	−15
Payments for patents and trademarks	−885,000	−491,000	−475,000	−307,000	−503,000
Net cash used in investing activities	−24	−22	−29	−26	−15
Taxes paid for net share settlement of equity awards	−1	−530,000	−4	−2	−4
Repurchases of common stock	−6	−20	0	0	—
Proceeds from the line of credit	0	0	255,000	0	0
Payments on the line of credit	0	0	−255,000	0	0
Payment of deferred financing costs	−12,000	−303,000	−52,000	−277,000	0
Net cash used in financing activities	−7	−21	−4	−2	−3
Net change in cash and cash equivalents	18	−3	44	−49	14
Cash paid for taxes	10	8	2	11	1
Cash paid for interest	122,000	112,000	146,000	192,000	95,000
Asset acquisitions not yet paid for at period end	2	1	2	4	1
Leasehold improvements acquired through lease incentive	2	0	0	—	—

Filings

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