Lulu’s Fashion Lounge Holdings, Inc. (“Lulus” or the
“Company”) (Nasdaq: LVLU) today reported financial results for the
first quarter ended April 2, 2023, and reaffirmed its full-year
2023 financial guidance.
Crystal Landsem, CEO of Lulus,
said:
“We are pleased with our execution during the
first quarter, making progress on key initiatives in support of our
long-term strategies, driving future benefits in areas such as
international growth, efficiencies in our distribution network, and
product cost reductions. As expected, first quarter was impacted by
a difficult comparison against a 62% year-over-year net revenue
growth rate in the first quarter of 2022 which benefited from
pent-up demand as our customers re-engaged with their social
calendars following the easing of Covid restrictions. Like others,
the continued challenging macroenvironment required us to be more
promotional year-over-year, yet less promotional than in the fourth
quarter of 2022.
We remain confident in our business particularly
as our flexible cost structure enables us to remain resilient
during challenging macroeconomic environments as demonstrated by an
approximately 12% year-over-year reduction in operating expenses,
with continued prudent expense management. Lulus remains well
positioned with a strong balance sheet and positive cash flow from
operations, which enabled us to reduce our revolver balance during
the first quarter and into the second quarter, and we believe
ultimately gives us the flexibility to capture future growth
opportunities.”
First Quarter 2023
Highlights:
- Net revenue of $91.0 million, a 19%
decrease compared to the same period last year, driven by a 14%
decrease in Total Orders Placed and a 3% decrease in Average Order
Value (“AOV”), net of higher promotions and discounts, along with
higher return rates. Net revenue increased 32% from the first
quarter 2021.
- Active Customers of 3.2 million, a
6% increase compared to the same period last year.
- AOV of $129, a decrease of 3%
compared to $133 in the same period last year.
- Gross Margin decreased 560 basis
points to 41.7% and gross profit decreased 28%, in each case
compared to the same period last year, reflecting higher
promotional levels and continued pressures from shipping-related
costs.
- Interest expense of $0.5 million,
compared to $0.2 million during the same period last year.
- Net loss of $5.6 million, compared
to net income of $2.0 million during the same period last
year.
- Adjusted EBITDA
of $16.0 thousand, compared to $9.9 million during the same period
last year. Despite flat Adjusted EBITDA for the quarter, net cash
provided by operating activities was $3.7 million and Free Cash
Flow was $2.6 million.
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Thirteen Weeks Ended |
|
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April 2, 2023 |
|
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April 3, 2022 |
|
|
YoY Change |
|
|
|
(In thousands, except percentages) |
Net revenue |
|
$ |
90,976 |
|
|
|
$ |
111,902 |
|
|
(19)% |
|
|
Gross profit |
|
$ |
37,961 |
|
|
|
$ |
52,978 |
|
|
(28)% |
|
|
Gross Margin* |
|
|
41.7% |
|
|
|
|
47.3% |
|
|
(560)bps |
|
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Net (loss) income |
|
$ |
(5,618) |
|
|
|
$ |
2,043 |
|
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NM |
|
|
Adjusted EBITDA* |
|
$ |
16 |
|
|
|
$ |
9,911 |
|
|
(100)% |
|
|
Diluted net (loss) income per
share attributable to common stockholders |
|
$ |
(0.14) |
|
|
|
$ |
0.05 |
|
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NM |
|
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Active Customers* |
|
|
3,173 |
|
|
|
|
3,000 |
|
|
6% |
|
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Free Cash Flow* |
|
$ |
2,636 |
|
|
|
$ |
18,672 |
|
|
(86)% |
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NM – not meaningful* Note: Refer to “Use of Non-GAAP Financial
Measures and Other Operating Metrics” section below for definitions
of these metrics.
Reaffirming Financial Outlook for Full
Year 2023:
- We expect net revenue between
$410.0 million and $430.0 million, which represents between a 7%
and 2% decline compared to 2022.
- Adjusted EBITDA is expected to be
between $23.1 million and $25.6 million, which represents between a
21% and 12% decline compared to 2022, reflecting investments in key
growth opportunities.
- We expect reported interest expense
to be approximately $1.1 million, flat to last year, which reflects
the impact of higher interest rates offsetting lower expected
revolver balances.
- We expect
capital expenditures to be between $5.0 million and $6.0 million,
which represents between a 0% and 20% increase compared to
2022.
Forecasting future results or trends is
inherently difficult for any business, and actual results or trends
may differ materially from those forecasted. Lulus’ outlook is
based on current indications for its business. Lulus’ outlook
factors in our current best estimates for anticipated headwinds,
including those related to the macroenvironment, inflation, supply
chain pressures, shipping costs and the level of spending and
returns by our customers. Given the volatile nature of current
consumer demand and potential for further impacts to consumer
behavior from inflation, fuel charges, and change in sentiment,
Lulus’ financial outlook is subject to change.
LULU’S FASHION LOUNGE
HOLDINGS, INC.CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)
INCOME(Unaudited)(In thousands,
except share and per share data)
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|
|
|
|
|
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Thirteen Weeks Ended |
|
|
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April 2, |
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April 3, |
|
|
|
2023 |
|
2022 |
|
Net revenue |
|
$ |
90,976 |
|
|
$ |
111,902 |
|
|
Cost of revenue |
|
|
53,015 |
|
|
|
58,924 |
|
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Gross profit |
|
|
37,961 |
|
|
|
52,978 |
|
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Selling and marketing
expenses |
|
|
19,489 |
|
|
|
21,886 |
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General and administrative
expenses |
|
|
24,348 |
|
|
|
27,834 |
|
|
(Loss) income from
operations |
|
|
(5,876) |
|
|
|
3,258 |
|
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Other income (expense),
net: |
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|
|
|
|
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Interest expense |
|
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(523) |
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|
|
(208) |
|
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Other income, net |
|
|
73 |
|
|
|
54 |
|
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Total other expense, net |
|
|
(450) |
|
|
|
(154) |
|
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(Loss) income before benefit
(provision) for income taxes |
|
|
(6,326) |
|
|
|
3,104 |
|
|
Income tax benefit
(provision) |
|
|
708 |
|
|
|
(1,061) |
|
|
Net (loss) income and
comprehensive (loss) income |
|
|
(5,618) |
|
|
|
2,043 |
|
|
Net (loss) income attributable
to common stockholders |
|
$ |
(5,618) |
|
|
$ |
2,043 |
|
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Net (loss) income per
share attributable to common stockholders: |
|
|
|
|
|
|
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Basic |
|
$ |
(0.14) |
|
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$ |
0.05 |
|
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Diluted |
|
$ |
(0.14) |
|
|
$ |
0.05 |
|
|
Weighted average
shares used to compute net (loss) income per share attributable to
common stockholders: |
|
|
|
|
|
|
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Basic |
|
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39,233,953 |
|
|
|
38,098,073 |
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Diluted |
|
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39,233,953 |
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|
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38,385,765 |
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LULU’S FASHION LOUNGE
HOLDINGS, INC.CONDENSED CONSOLIDATED BALANCE
SHEETS(Unaudited)(In thousands,
except share and per share data)
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April 2, |
|
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January 1, |
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|
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2023 |
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2023 |
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Assets |
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Current assets: |
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|
|
|
|
|
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Cash and cash equivalents |
|
$ |
7,829 |
|
|
$ |
10,219 |
|
|
Accounts receivable |
|
|
7,234 |
|
|
|
3,908 |
|
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Inventory, net |
|
|
51,830 |
|
|
|
43,186 |
|
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Assets for recovery |
|
|
6,752 |
|
|
|
3,890 |
|
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Income tax refund receivable |
|
|
3,724 |
|
|
|
4,078 |
|
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Prepaids and other current assets |
|
|
4,033 |
|
|
|
3,738 |
|
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Total current assets |
|
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81,402 |
|
|
|
69,019 |
|
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Property and equipment, net |
|
|
4,319 |
|
|
|
4,391 |
|
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Goodwill |
|
|
35,430 |
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|
|
35,430 |
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Tradename |
|
|
18,509 |
|
|
|
18,509 |
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Intangible assets, net |
|
|
3,196 |
|
|
|
3,090 |
|
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Lease right-of-use assets |
|
|
31,432 |
|
|
|
32,514 |
|
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Other noncurrent assets |
|
|
5,278 |
|
|
|
4,251 |
|
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Total assets |
|
$ |
179,566 |
|
|
$ |
167,204 |
|
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Liabilities and
Stockholders' Equity |
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|
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|
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Current liabilities: |
|
|
|
|
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|
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Accounts payable |
|
$ |
7,043 |
|
|
$ |
5,320 |
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Accrued expenses and other current liabilities |
|
|
26,678 |
|
|
|
17,976 |
|
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Returns reserve |
|
|
17,586 |
|
|
|
9,066 |
|
|
Stored-value card liability |
|
|
11,130 |
|
|
|
10,828 |
|
|
Lease liabilities, current |
|
|
4,775 |
|
|
|
4,456 |
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Total current liabilities |
|
|
67,212 |
|
|
|
47,646 |
|
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Revolving line of credit |
|
|
20,000 |
|
|
|
25,000 |
|
|
Lease liabilities, noncurrent |
|
|
27,761 |
|
|
|
29,042 |
|
|
Other noncurrent liabilities |
|
|
818 |
|
|
|
623 |
|
|
Total liabilities |
|
|
115,791 |
|
|
|
102,311 |
|
|
|
|
|
|
|
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Stockholders'
equity: |
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|
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|
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Preferred stock: $0.001 par value; 10,000,000 shares authorized;
and no shares issued or outstanding |
|
|
— |
|
|
|
— |
|
|
Common stock: $0.001 par value; 250,000,000 shares authorized; and
39,727,187 and 39,259,328 shares issued and outstanding as of April
2, 2023 and January 1, 2023, respectively |
|
|
40 |
|
|
|
39 |
|
|
Additional paid-in capital |
|
|
243,224 |
|
|
|
238,725 |
|
|
Accumulated deficit |
|
|
(179,489) |
|
|
|
(173,871) |
|
|
Total stockholders' equity |
|
|
63,775 |
|
|
|
64,893 |
|
|
Total liabilities and stockholders' equity |
|
$ |
179,566 |
|
|
$ |
167,204 |
|
|
LULU’S FASHION LOUNGE
HOLDINGS, INC.CONDENSED CONSOLIDATED
STATEMENTS OF CASH
FLOWS(Unaudited)(In
thousands)
|
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|
|
|
|
|
|
|
Thirteen Weeks Ended |
|
|
April 2, |
|
April 3, |
|
|
|
2023 |
|
2022 |
|
Cash Flows from
Operating Activities |
|
|
|
|
|
|
|
Net (loss) income |
|
$ |
(5,618) |
|
|
$ |
2,043 |
|
|
Adjustments to reconcile net
(loss) income to net cash provided by operating activities: |
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
1,121 |
|
|
|
841 |
|
|
Noncash lease expense |
|
|
864 |
|
|
|
789 |
|
|
Amortization of debt discount and debt issuance costs |
|
|
40 |
|
|
|
40 |
|
|
Equity-based compensation expense |
|
|
4,698 |
|
|
|
5,758 |
|
|
Deferred income taxes |
|
|
(2,105) |
|
|
|
(554) |
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
Accounts receivable |
|
|
(3,326) |
|
|
|
(2,213) |
|
|
Inventories |
|
|
(8,644) |
|
|
|
(19,892) |
|
|
Assets for recovery |
|
|
(2,862) |
|
|
|
(2,928) |
|
|
Income taxes payable |
|
|
1,388 |
|
|
|
1,636 |
|
|
Prepaid and other current assets |
|
|
(295) |
|
|
|
(499) |
|
|
Accounts payable |
|
|
1,719 |
|
|
|
7,136 |
|
|
Accrued expenses and other current liabilities |
|
|
17,572 |
|
|
|
28,554 |
|
|
Operating lease liabilities |
|
|
(803) |
|
|
|
7 |
|
|
Other noncurrent liabilities |
|
|
(44) |
|
|
|
(470) |
|
|
Net cash provided by operating activities |
|
|
3,705 |
|
|
|
20,248 |
|
|
Cash Flows from
Investing Activities |
|
|
|
|
|
|
|
Capitalized software development costs |
|
|
(551) |
|
|
|
(600) |
|
|
Purchases of property and equipment |
|
|
(518) |
|
|
|
(976) |
|
|
Other |
|
|
— |
|
|
|
(78) |
|
|
Net cash used in investing activities |
|
|
(1,069) |
|
|
|
(1,654) |
|
|
Cash Flows from
Financing Activities |
|
|
|
|
|
|
|
Proceeds from borrowings on revolving line of credit |
|
|
2,000 |
|
|
|
— |
|
|
Repayments on revolving line of credit |
|
|
(7,000) |
|
|
|
(10,000) |
|
|
Proceeds from issuance of common stock under employee stock
purchase plan (ESPP) |
|
|
269 |
|
|
|
— |
|
|
Principal payments on finance lease obligations |
|
|
(245) |
|
|
|
— |
|
|
Payment of offering costs related to the IPO |
|
|
— |
|
|
|
(542) |
|
|
Withholding tax payments related to vesting of RSUs |
|
|
(43) |
|
|
|
— |
|
|
Other |
|
|
(7) |
|
|
|
(21) |
|
|
Net cash used in financing activities |
|
|
(5,026) |
|
|
|
(10,563) |
|
|
Net (decrease) increase in
cash, cash equivalents and restricted cash |
|
|
(2,390) |
|
|
|
8,031 |
|
|
Cash, cash equivalents and
restricted cash at beginning of period |
|
|
10,219 |
|
|
|
11,908 |
|
|
Cash, cash equivalents and
restricted cash at end of period |
|
$ |
7,829 |
|
|
$ |
19,939 |
|
|
|
|
|
|
|
|
|
|
Reconciliation of cash, cash
equivalents and restricted cash |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
7,829 |
|
|
$ |
19,433 |
|
|
Restricted cash |
|
|
— |
|
|
|
506 |
|
|
Total cash, cash equivalents
and restricted cash, end of period |
|
$ |
7,829 |
|
|
$ |
19,939 |
|
|
Webcast & Conference Call
Information
The Company will host a conference call and live
webcast with the investment community at 5:00 p.m. Eastern Time
today, Tuesday, May 9, 2023, to discuss its first quarter 2023
results. The live webcast will be accessible through the Investor
Relations section of the Company’s website at
https://investors.lulus.com/. To access the call through a
conference line, dial 1-866-652-5200 (in the U.S.) or
1-412-317-6060 (international callers). A replay of the conference
call will be posted shortly after the call and will be available
for seven days following the call. To access the replay, dial
1-844-512-2921 (in the U.S.) or 1-412-317-6671 (international
callers). The access code for the replay is 10177526.
About Lulus
Lulus is a customer driven, digitally native
fashion brand for women. Based in California and serving millions
of customers worldwide, Lulus develops styles with the customer in
mind, using direct consumer feedback and insights to refine its
products. With fresh inventory hitting the site almost daily, Lulus
features on-trend, high-quality, must-have pieces, at affordable
prices. As a brand built on customer feedback, Lulus puts an
extreme focus on providing exceptional customer service and a
personalized shopping experience. The brand’s world class personal
stylists, bridal concierge, and customer care team take pride in
offering a personalized shopping experience to every customer.
Lulus was founded in 1996. Lulus is a registered trademark of
Lulu’s Fashion Lounge, LLC. All rights reserved.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical or current
fact included in this press release are forward-looking statements,
including but not limited to statements regarding our expectations
around the continued impact of the macroeconomic environment on our
business, our operations, our growth, our investments, and our
financial outlook for the fiscal year ending December 31,
2023. These statements are neither promises nor guarantees, but
involve known and unknown risks, uncertainties and other important
factors that may cause Lulus’ actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including but not limited to the
following: risks related to the continued impact of the COVID-19
pandemic on our business, operations and financial results; our
ability to successfully maintain our desired merchandise assortment
or manage our inventory effectively; demand for our products,
including our ability to anticipate, identify, measure, and respond
quickly to fashion trends, customer preferences and demands;
general economic conditions, including inflation; our fluctuating
operating results; seasonality in our business; our ability to
acquire products on reasonable terms; our e-commerce business
model; our ability to attract and retain customers in a cost
effective manner; the strength of our brand; competition; fraud;
system interruptions; system security risks including security
breaches; and our ability to fulfill orders. These and other
important factors discussed under the caption “Risk Factors” in
Lulus’ Annual Report on Form 10-K for the fiscal year ended January
1, 2023, and its other filings with the Securities and Exchange
Commission could cause actual results to differ materially from
those indicated by the forward-looking statements made in this
press release. Any such forward-looking statements represent
management’s estimates as of the date of this press release. While
Lulus may elect to update such forward-looking statements at some
point in the future, it disclaims any obligation to do so, except
as required by law, even if subsequent events cause its views to
change.
Use of Non-GAAP Financial Measures and
Other Operating Metrics
To supplement our condensed consolidated
financial statements, which are prepared and presented in
accordance with accounting principles generally accepted in the
United States of America (“GAAP”), we reference in this press
release and the accompanying tables the following non-GAAP
financial measures: Adjusted EBITDA, Adjusted EBITDA Margin, Net
Debt and Free Cash Flow. The presentation of this non-GAAP
financial information is not intended to be considered in isolation
or as a substitute for, or superior to, the financial information
prepared and presented in accordance with GAAP, and our non-GAAP
measures may be different from non-GAAP measures used by other
companies. We use these non-GAAP financial measures to evaluate our
operating performance, generate future operating plans and make
strategic decisions regarding the allocation of capital. Our
management believes that these non-GAAP financial measures provide
meaningful supplemental information regarding our performance and
liquidity by excluding certain expenses that may not be indicative
of our ongoing core operating performance. We believe that both
management and investors benefit from referring to these non-GAAP
financial measures in assessing our performance and when analyzing
historical performance and liquidity and when planning,
forecasting, and analyzing future periods. For a reconciliation of
these non-GAAP financial measures to GAAP measures, please see the
tables captioned “Reconciliation of Non-GAAP Financial Measures”
included at the end of this release. Definitions of our non-GAAP
financial measures and other operating metrics are presented below.
A reconciliation of Adjusted EBITDA guidance to net (loss) income
on a forward-looking basis cannot be provided without unreasonable
efforts, as we are unable to provide reconciling information with
respect to equity-based compensation expense and income tax, all of
which are adjustments to Adjusted EBITDA. We also use certain key
operating metrics, including Gross Margin, Active Customers,
Average Order Value, and Total Orders Placed.
Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure
that we calculate as net (loss) income before interest expense,
income taxes, depreciation and amortization, adjusted to exclude
the effects of equity-based compensation expense. Adjusted EBITDA
is a key measure used by management to evaluate our operating
performance, generate future operating plans and make strategic
decisions regarding the allocation of capital. In particular, the
exclusion of certain expenses in calculating Adjusted EBITDA
facilitates operating performance comparisons on a period-to-period
basis and, in the case of exclusion of the impact of equity-based
compensation, excludes an item that we do not consider to be
indicative of our core operating performance.
Adjusted EBITDA Margin
Adjusted EBITDA Margin is
a non-GAAP financial measure that we calculate as
Adjusted EBITDA (as defined above) as a percentage of our net
revenue.
Active Customers
We define Active Customers as the number of
customers who have made at least one purchase across our platform
in the prior 12-month period. We consider the number of Active
Customers to be a key performance metric on the basis that it is
directly related to consumer awareness of our brand, our ability to
attract visitors to our digital platform, and our ability to
convert visitors to paying customers. Active Customers counts are
based on de-duplication logic using customer account and guest
checkout name, address, and email information.
Average Order Value
We define Average Order Value (“AOV”) as the sum
of the total gross sales before returns across our platform in a
given period, plus shipping revenue, less discounts and markdowns,
divided by the Total Orders Placed (as defined below) in that
period. AOV reflects average basket size of our customers. AOV may
fluctuate as we continue investing in the development and
introduction of new Lulus merchandise and as a result of our
promotional discount activity.
Free Cash Flow
Free Cash Flow is a non-GAAP financial measure
that we calculate as net cash provided by operating activities less
cash used for capitalized software development costs and purchases
of property and equipment. We view Free Cash Flow as an important
indicator of our liquidity because it measures the amount of cash
we generate.
Gross Margin
We define Gross Margin as gross profit as
a percentage of our net revenue. Gross profit is equal to our
net revenue less cost of revenue. Certain of our competitors and
other retailers report cost of revenue differently than we do. As a
result, the reporting of our gross profit and Gross Margin may not
be comparable to other companies.
Net Debt
Net Debt is defined as total debt, which
includes short-term borrowings and long-term obligations, less cash
and cash equivalents. We consider Net Debt to be an important
supplemental measure of our financial position, which allows us to
analyze our leverage.
Total Orders Placed
We define Total Orders Placed as the number of
customer orders placed across our platform during a particular
period. An order is counted on the day the customer places the
order. We do not adjust the number of Total Orders Placed for any
cancellation or return that may have occurred subsequent to a
customer placing an order. We consider Total Orders Placed as a key
performance metric on the basis that it is directly related to our
ability to attract and retain customers as well as drive purchase
frequency. Total Orders Placed, together with AOV, is an indicator
of the net revenue we expect to generate in a particular
period.
LULU’S FASHION LOUNGE
HOLDINGS, INC.
KEY OPERATING AND FINANCIAL
METRICS(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended |
|
|
|
April 2, 2023 |
|
|
April 3, 2022 |
|
|
|
|
(In thousands, except Average Order Value
and percentages) |
Gross Margin |
|
|
41.7% |
|
|
|
47.3% |
|
|
Adjusted EBITDA |
|
$ |
16 |
|
|
$ |
9,911 |
|
|
Adjusted EBITDA Margin |
|
|
—% |
|
|
|
8.9% |
|
|
Average Order Value |
|
$ |
129 |
|
|
$ |
133 |
|
|
Active Customers |
|
|
3,173 |
|
|
|
3,000 |
|
|
Note: Refer to “Use of Non-GAAP Financial Measures and Other
Operating Metrics” section above for definitions of these
metrics.
LULU’S FASHION LOUNGE
HOLDINGS, INC.
RECONCILIATION OF NON-GAAP FINANCIAL
MEASURES(Unaudited)
A reconciliation to non-GAAP Net Debt from Total
Debt as of April 2, 2023 and January 1, 2023, respectively, is as
follows:
|
|
|
|
|
|
|
|
|
As of |
|
|
April 2, 2023 |
|
January 1, 2023 |
|
|
(In thousands) |
Revolving line of credit, long term |
|
$ |
(20,000) |
|
|
$ |
(25,000) |
|
Cash and cash equivalents |
|
|
7,829 |
|
|
|
10,219 |
|
Net Debt |
|
$ |
(12,171) |
|
|
$ |
(14,781) |
|
A reconciliation to non-GAAP Adjusted EBITDA
from net (loss) income for the thirteen weeks ended April 2, 2023
and April 3, 2022 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended |
|
|
|
|
April 2, 2023 |
|
|
April 3, 2022 |
|
|
|
|
(In thousands, except percentages) |
Net (loss) income |
|
$ |
(5,618) |
|
|
|
$ |
2,043 |
|
|
Excluding: |
|
|
|
|
|
|
|
|
|
Depreciation and
amortization |
|
|
1,121 |
|
|
|
|
841 |
|
|
Interest expense |
|
|
523 |
|
|
|
|
208 |
|
|
Income tax (benefit)
provision |
|
|
(708) |
|
|
|
|
1,061 |
|
|
Equity-based compensation
expense (1) |
|
|
4,698 |
|
|
|
|
5,758 |
|
|
Adjusted EBITDA |
|
$ |
16 |
|
|
|
$ |
9,911 |
|
|
Adjusted EBITDA Margin |
|
|
—% |
|
|
|
|
8.9% |
|
|
(1) The thirteen weeks ended April 2, 2023
include equity-based compensation expense for restricted stock
units and performance stock units granted during the thirteen-week
period, as well as restricted stock, stock options and special
compensation awards granted in prior periods. The thirteen weeks
ended April 3, 2022 include equity-based compensation expense for
restricted stock units granted during the thirteen-week period, as
well as restricted stock, stock options and special compensation
awards granted in prior periods. A reconciliation to non-GAAP Free
Cash Flow from net cash provided by operating activities for the
thirteen weeks ended April 2, 2023 and April 3, 2022 is as
follows:
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended |
|
|
April 2, 2023 |
|
April 3, 2022 |
Net cash provided by operating activities |
|
$ |
3,705 |
|
|
$ |
20,248 |
|
Capitalized software
development costs |
|
|
(551) |
|
|
|
(600) |
|
Purchases of property and
equipment |
|
|
(518) |
|
|
|
(976) |
|
Free Cash Flow |
|
$ |
2,636 |
|
|
$ |
18,672 |
|
Contact
Tiffany R. SmithChief Financial
Officerinvestors@lulus.com
Lulus Fashion Lounge (NASDAQ:LVLU)
過去 株価チャート
から 4 2024 まで 5 2024
Lulus Fashion Lounge (NASDAQ:LVLU)
過去 株価チャート
から 5 2023 まで 5 2024