Lovesac Co financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Lovesac Co files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	102	166	233	321	498	651	700	681	697
Cost of revenue	44.6	75	117	146	225	308	299	283	304
Gross profit	57.2	90.9	117	175	274	344	401	398	393
Research and development						8.4	7.7	8.4	7
Selling, general and administrative	50.8	76.4	98.1	111	160	216	264	281	284
Selling and marketing			29.2	41.9	65.1	79.9	94.1	88	88.7
Operating expenses	62.3	97.9	132	160	233	307	371	384	388
Operating income	-5.04	-7.04	-15.8	14.9	40.6	37	30.1	13.6	5.36
Interest expense	0.14	0.12	0.07	0.09
Other non-operating income						-0.12	1.75	2.8	1.3
Pre-tax income	-5.48	-6.69	-15.2	14.8	40.4	36.8	31.8	16.4	6.67
Income tax	0.03	0.02	0.04	0.09	-7.09	10.4	7.96	4.89	2.6
Net income	-5.5	-6.7	-15.2	14.7	47.5	26.5	23.9	11.6	4.07
EBITDA	-3.04	-4.11	-10.9	21	47.7	47.4	42.3	27.9	20.3
EPS, basic	-1.12	-3.28	-1.07	1.01	3.14	1.74	1.55	0.75	0.28
EPS, diluted	-1.12	-3.28	-1.07	0.96	2.96	1.66	1.45	0.69	0.28
Shares, basic (weighted)	6	10.5	14.3	14.6	15.1	15.2	15.4	15.5	14.7
Shares, diluted (weighted)	6	10.5	14.3	15.3	16.1	16	16.5	16.8	14.7

Balance sheet

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	9.18	49.1	48.5	78.3	92.4	43.5	87	83.7	102
Receivables	2.81	3.96	7.19	4.51	8.55	9.1	13.5	16.8	11.7
Inventory	0.58		1.1	3.17
Other current assets	0.53		8.05	10.1	12.3	5.07	3.85	6.94	6.26
Total current assets	29.7	85.1	100	143	222	188	214	247	237
Property, plant and equipment	11	18.6	23.8	25.9	34.1	52.9	70.8	78	86.4
Lease right-of-use assets				0	101	135	156	158	163
Goodwill	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14
Intangible assets	0.53	0.94	1.35	1.52	1.41	1.41	1.46	1.59	2.37
Other non-current assets	0.72	1.3	1.64	1.75	12.3	32.6
Total assets	41.4	105	126	171	369	409	482	532	535
Accounts payable	12.7	16.8	19.9	24.3	33.2	24.6	28.8	51.8	43.7
Accrued liabilities	0.78	3.7	8.57	17.2	40.9	25.4	38.6	52	38.8
Deferred revenue			1.65	5.99	13.3	6.76	8.26	11.3	11.5
Short-term debt				14
Total current liabilities	16.7	24.6	32.4	56.3	115	82	106	155	147
Lease liabilities				0	96.6	133	158	160	168
Total liabilities	17.8	26.2	35.5	63.1	211	216	265	316	316
Total debt				78
Paid-in capital	79.9	142	168	171	174	183	183	191	195
Retained earnings	-56.3	-63	-78.2	-63.4	-15.9	10.5	34.4	25.8	23.9
Shareholders' equity	23.6	78.8	90.2	108	158	193	217	216	219
Total equity	23.6	78.8	90.2	108	158	193	217	216	219
Total liabilities and equity	41.4	105	126	171	369	409	482	532	535
Shares outstanding	6.06	13.6	14.5	15	15.1	15.2	15.5	14.8	14.6

Cash flow statement

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-5.5	-6.7	-15.2	14.7	47.5	26.5	23.9	11.6	4.07
Depreciation and amortization	2	2.94	4.89	6.1	7.15	10.5	12.2	14.3	14.9
Stock-based compensation	0.95	3.31	5.25	4.68	5.86	10.5	4.22	7.95	5.51
Deferred income tax	0.36	0.53	0	0	-9.72	1.04	-2.13	-4.47	1.89
Change in receivables	-1.8	-1.15	-3.23	2.68	-4.03	-0.56	-4.36	-3.32	5.05
Change in payables	6.85	7.73	7.19	19.6	38.2	-18.6	14	17.5	-1.47
Cash from operations	-2.74	-7.01	-11.2	40.5	32.6	-21.4	76.4	39	49.3
Capital expenditures	-6.64	-10.7	-10.3	-8.37	-14.6	-25.2	-28.7	-21	-23.1
Cash from investing	-6.81	-11.4	-10.7	-9.05	-15.1	-25.5	-29.2	-21.5	-24
Stock issued		58.9	25.6	0	0
Share buybacks						0	0	-19.9	-6
Cash from financing	17.8	58.3	21.3	-1.67	-3.48	-1.94	-3.73	-20.8	-7.19
Net change in cash	8.3	39.9	-0.53	29.8	14.1	-48.9	43.5	-3.3	18.1
Free cash flow	-9.38	-17.8	-21.5	32.1	18	-46.6	47.7	18	26.2
Interest paid	0.17	0.06	0.06	0.09	0.1	0.19	0.15	0.11	0.12
Income taxes paid	0.03	0.02	0.04	0.09	1.12	10.7	1.81	8.45	9.97

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to August 2, 2026; growth uses fiscal years. Valuation uses the share price of $15.19 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	58.8%	Gross profit / revenue.
Operating margin	3.3%	Operating income / revenue.
EBITDA margin	5.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.6%	Pre-tax income / revenue.
Net margin	2.6%	Net income / revenue.
FCF margin	6.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.6%	Cash from operations / revenue.
Effective tax rate	29.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.3%	Net income / average total assets.
Return on invested capital (ROIC)	11.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	0.9%	Research and development expense / revenue.
SG&A / revenue	40.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.1%	Capital expenditures / revenue.
D&A / revenue	2.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-1.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	17.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-60.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-47.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-18.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-27.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-24.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-0.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-64.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-46.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-22.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-59.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-44.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-21.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	26.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	4.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	45.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-4.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	15.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	25.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-12.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.47x	Current assets / current liabilities.
Quick ratio	0.53x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.42x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	61.0%	Total liabilities / total assets.
Working capital	$76.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$207.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.29x	Revenue / average total assets.
Fixed asset turnover	7.86x	Revenue / average property, plant and equipment.
Receivables turnover	41.8x	Revenue / average receivables.
Days sales outstanding	9 days	365 x average receivables / revenue.
Days payables	77 days	365 x average accounts payable / cost of revenue.
FCF conversion	253.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	32.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.22	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$47.61	Revenue / diluted weighted shares.
FCF per share	$3.09	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.58	Cash from operations / diluted weighted shares.
Book value per share	$14.56	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.36	Tangible book value / shares outstanding.
Cash per share	$4.77	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	16.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$222.4M	Share price x shares outstanding.
Enterprise value	$153.6M	Market cap + total debt - cash - short-term investments.
P/E	12.4x	Market cap / net income. Only when net income is positive.
P/S	0.32x	Market cap / revenue.
P/B	1.06x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.07x	Market cap / tangible book value, when positive.
P/FCF	4.91x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.31x	Market cap / cash from operations, when positive.
EV/Sales	0.22x	Enterprise value / revenue.
EV/EBIT	6.76x	Enterprise value / operating income, when both are positive.
EV/EBITDA	3.97x	Enterprise value / EBITDA, when both are positive.
EV/FCF	3.39x	Enterprise value / free cash flow, when both are positive.
FCF yield	20.4%	Free cash flow / market cap.
Earnings yield	8.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.3%	(Dividends paid + share buybacks) / market cap.

What was Lovesac Co's revenue in fiscal 2026?

Lovesac Co reported revenue of $697.1M for fiscal 2026, 2.4% higher than the year before.

Was Lovesac Co profitable in fiscal 2026?

Yes. Net income was $4.1M, a net margin of 0.6%.

How much free cash flow did Lovesac Co generate in fiscal 2026?

Cash from operations of $49.3M minus capital expenditures of $23.1M left free cash flow of $26.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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