Sleep Number Corp

Listed Company

SNBRCIK 0000827187NasdaqAcceleratedHousehold FurnitureMinnesotaFY ends Jan 3

Period

FY 2025

Revenue

$1.41B

Net Income

$-132.00M

Total Assets

$680.06M

Equity

$-578.48M

Shares Out

22.86M

Op. Cash Flow

$-3.28M

Business

Sleep Number Corp is a wellness technology company that designs, manufactures, markets and distributes innovative sleep solutions focused on individualized sleep health. It offers Smart Beds (including Climate360 and ClimateCool), FlexFit adjustable bases, bedding and furniture, a mobile app with SleepIQ and HealthIQ reports, and research partnerships and services. Key business components include its proprietary sleep wellness ecosystem, R&D and innovation, vertically integrated manufacturing and logistics, retail sales and customer service operations. Products are sold primarily through a direct-to-consumer model across nationwide stores, online, phone and chat, supported by strategic institutional and sports partnerships.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,411	1,682	1,887	2,114	2,185
Cost of sales	578	680	799	912	866
Gross profit	833	1,003	1,089	1,202	1,319
Sales and marketing	664	767	847	920	905
General and administrative	131	150	147	153	161
Research and development	34	45	56	62	59
Restructuring costs	51	18	16	0	0
Total operating expenses	880	980	1,066	1,134	1,125
Operating (loss) income	−47	23	23	68	194
Interest expense, net	49	48	43	19	—
Loss before income taxes	−96	−25	−20	49	187
Income tax expense (benefit)	36	−5	−4	12	34
Net loss	−132	−20	−15	37	154
Net loss per share basic (in dollars per share)	−5.77	−0.9	−0.68	1.63	6.4
Net loss per share diluted (in dollars per share)	−5.77	−0.9	−0.68	1.6	6.16
Weighted-average shares - basic (in shares)	23	23	22	22	24
Weighted-average shares (in shares)	23	23	22	23	25

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2	2	3	2	2
Accounts receivable, net of allowances of $694 and $1,113, respectively	16	18	27	26	26
Inventories	82	103	115	114	106
Prepaid expenses	14	15	17	16	19
Other current assets	37	44	45	40	55
Total current assets	150	181	206	198	208
Property and equipment, net	87	130	180	201	195
Operating lease right-of-use assets	312	357	395	398	371
Goodwill and intangible assets, net	66	66	67	68	70
Deferred income taxes	399,000	34	20	8	0
Other non-current assets	65	93	83	82	75
Total assets	680	861	951	954	920
Borrowings under revolving credit facility	588	547	540	460	—
Accounts payable	118	108	136	176	163
Customer prepayments	40	47	49	73	129
Accrued sales returns	13	19	22	26	22
Compensation and benefits	15	31	28	31	51
Taxes and withholding	11	19	17	24	22
Operating lease liabilities	81	82	82	80	72
Other current liabilities	46	56	62	61	64
Total current liabilities	913	908	936	930	907
Operating lease liabilities	273	307	351	357	336
Other non-current liabilities	73	97	105	105	101
Total liabilities	1,259	1,312	1,393	1,392	1,344
Undesignated preferred stock; 5,000 shares authorized, no shares issued and outstanding	0	0	0	0	0
Common stock, $0.01 par value; 142,500 shares authorized, 22,860 and 22,388 shares issued and outstanding, respectively	229,000	224,000	222,000	220,000	227,000
Additional paid-in capital	32	27	17	5	4
Accumulated deficit	−611	−479	−459	−444	−429
Total shareholders deficit	−578	−452	−442	−438	−425
Total liabilities and shareholders deficit	680	861	951	954	920

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	56	66	74	67	60
Stock-based compensation	6	11	15	13	23
Inventory obsolescence write off	10	0	0	—	—
Loss on impairment of strategic investment asset	16	0	0	291,000	37,000
Loss on disposal and impairment of leased assets	20	4	3	—	—
Deferred income taxes	33	−13	−12	−9	446,000
Accounts receivable	2	9	−854,000	−287,000	6
Inventories	11	12	−1	−12	−24
Income taxes	−4	4	−6	1	−3
Prepaid expenses and other assets	10	−11	−5	19	−14
Accounts payable	23	−16	−29	−5	54
Customer prepayments	−7	−2	−24	−56	57
Accrued compensation and benefits	−16	3	−3	−20	−25
Other taxes and withholding	−3	−3	−519,000	179,000	2
Other accruals and liabilities	−28	−18	−3	−926,000	8
Net cash (used in) provided by operating activities	−3	27	−9	36	300
Purchases of property and equipment	−14	−24	−57	−69	−67
Proceeds from sales of property and equipment	0	156,000	21,000	49,000	257,000
Issuance of notes receivable	0	−3	−1	0	0
Payment to secure contractual rights	−3	0	0	−1	0
Net cash used in investing activities	−18	−26	−58	−71	−67
Net increase (decrease) in short-term borrowings	28	−673,000	73	98	145
Repurchases of common stock	−1	−768,000	−4	−64	−382
Proceeds from issuance of common stock	0	0	428,000	1	4
Debt issuance costs	−6	0	−2	−718,000	−3
Net cash provided by (used in) financing activities	21	−1	68	34	−235
Net (decrease) increase in cash and cash equivalents	−257,000	−589,000	747,000	−597,000	−2
Income taxes paid, net of refunds	9	4	14	20	36
Interest paid	51	45	41	17	5
Purchases of property and equipment included in accounts payable	3	2	7	12	14

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro