The Lovesac Company (LOVE) Financial Statements (2024 and earlier)

Company Profile

Business Address TWO LANDMARK SQUARE, SUITE 300
STAMFORD, CT 06901
State of Incorp. DE
Fiscal Year End January 31
Industry (SIC) 5712 - Furniture Stores (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

1/31/2024
10/31/2023
MRQ
1/31/2023
1/31/2022
1/31/2021
1/31/2020
1/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments37,73843,53392,39278,34148,53949,071
Cash and cash equivalents37,73843,53392,39278,34148,53949,071
Receivables13,0139,1038,5474,5137,1893,955
Inventory, net of allowances, customer advances and progress billings116,625119,627108,4933,17036,40026,154
Inventory116,625119,627108,4933,17036,40026,154
Prepaid expense 3,5457,8524,0768,0505,934
Other current assets      
Other undisclosed current assets 16,93611,9077,87453,299  
Total current assets:184,312187,715225,158143,400100,17885,114
Noncurrent Assets
Operating lease, right-of-use asset144,607135,411100,891  
Property, plant and equipment67,72752,90434,13725,86823,84418,595
Intangible assets, net (including goodwill)      
Goodwill      
Intangible assets, net (excluding goodwill)      
Deferred income tax assets     
Other noncurrent assets 39,61932,59611,3931,7511,6421,305
Other undisclosed noncurrent assets      
Total noncurrent assets:251,953220,911146,42127,61925,48619,900
TOTAL ASSETS:436,265408,626371,579171,019125,664105,014
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities68,31549,99389,08150,33130,74723,559
Taxes payable5,3592,4711,405751
Employee-related liabilities9,9786,3628872,270
Accounts payable37,17624,57633,24724,31119,88816,837
Accrued liabilities31,13925,41740,49717,1888,5683,701
Deferred revenue9,6896,76013,3165,993 
Other undisclosed current liabilities27,90125,28816,382 1,6541,060
Total current liabilities:105,90582,041118,77956,32432,40124,619
Noncurrent Liabilities
Long-term debt and lease obligation   96,574  31
Long-term debt, excluding current maturities      31
Liabilities, other than long-term debt144,856133,491 6,7493,1081,594
Deferred rent credit    6,7493,1081,594
Deferred income tax liabilities     
Operating lease, liability144,856133,49196,574  
Other undisclosed noncurrent liabilities   (96,574)   
Total noncurrent liabilities:144,856133,49196,5746,7493,1081,626
Total liabilities:250,761215,532215,35363,07235,50926,244
Equity
Equity, attributable to parent185,504193,094156,226107,94790,15578,770
Common stock    000
Additional paid in capital182,055182,554173,762171,382168,317141,728
Retained earnings (accumulated deficit)3,44910,540(17,536)(63,436)(78,163)(62,958)
Total equity:185,504193,094156,226107,94790,15578,770
TOTAL LIABILITIES AND EQUITY:436,265408,626371,579171,019125,664105,014

Income Statement (P&L) ($ in thousands)

1/31/2024
10/31/2023
TTM
1/31/2023
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Revenues688,239651,179498,239320,738233,377165,881
Gain on disposition of assets for financial service operations    320,738233,377 
Cost of revenue
(Cost of Goods and Services Sold)
(303,787)(307,528)(224,894)(145,966)(116,687)(75,000)
Gross profit:384,452343,651273,345174,772116,69090,881
Operating expenses(358,740)(306,685)(234,904)(159,892)(132,499)(97,924)
Operating income (loss):25,71236,96638,44114,880(15,809)(7,043)
Interest and debt expense    (88)(73)(121)
Other undisclosed income from continuing operations before equity method investments, income taxes    20720477
Income (loss) from continuing operations before equity method investments, income taxes:25,71236,96638,44114,813(15,162)(6,688)
Other undisclosed income (loss) from continuing operations before income taxes945(117)(179)   
Income (loss) from continuing operations before income taxes:26,65736,84938,26214,813(15,162)(6,688)
Income tax expense (benefit)(7,858)(10,361)7,638(86)(43)(16)
Income (loss) from continuing operations:18,79926,48845,90014,727(15,205)(6,704)
Income (loss) before gain (loss) on sale of properties:45,90014,727(15,205)(6,704)
Net income (loss) attributable to parent:18,79926,48845,90014,727(15,205)(6,704)
Preferred stock dividends and other adjustments      27,833
Other undisclosed net loss available to common stockholders, basic      (55,666)
Net income (loss) available to common stockholders, diluted:18,79926,48845,90014,727(15,205)(34,537)

Comprehensive Income ($ in thousands)

1/31/2024
10/31/2023
TTM
1/31/2023
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Net income (loss):18,79926,48845,90014,727(15,205)(6,704)
Comprehensive income (loss), net of tax, attributable to parent:18,79926,48845,90014,727(15,205)(6,704)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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