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)
| 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 investments | 43,533 | 92,392 | 78,341 | 48,539 | 49,071 | |||
| Cash and cash equivalents | 43,533 | 92,392 | 78,341 | 48,539 | 49,071 | |||
| Receivables | 9,103 | 8,547 | 4,513 | 7,189 | 3,955 | |||
| Inventory, net of allowances, customer advances and progress billings | 119,627 | 108,493 | 3,170 | 36,400 | 26,154 | |||
| Inventory | 119,627 | 108,493 | 3,170 | 36,400 | 26,154 | |||
| Prepaid expense | 3,545 | 7,852 | 4,076 | 8,050 | 5,934 | |||
| Other undisclosed current assets | 11,907 | 7,874 | 53,299 | |||||
| Total current assets: | 187,715 | 225,158 | 143,400 | 100,178 | 85,114 | |||
| Noncurrent Assets | ||||||||
| Operating lease, right-of-use asset | 135,411 | 100,891 | ✕ | |||||
| Property, plant and equipment | 52,904 | 34,137 | 25,868 | 23,844 | 18,595 | |||
| Other noncurrent assets | 32,596 | 11,393 | 1,751 | 1,642 | 1,305 | |||
| Total noncurrent assets: | 220,911 | 146,421 | 27,619 | 25,486 | 19,900 | |||
| TOTAL ASSETS: | 408,626 | 371,579 | 171,019 | 125,664 | 105,014 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities | 49,993 | 89,081 | 50,331 | 30,747 | 23,559 | |||
| Taxes payable | ✕ | ✕ | 5,359 | 2,471 | 1,405 | 751 | ||
| Employee-related liabilities | ✕ | ✕ | 9,978 | 6,362 | 887 | 2,270 | ||
| Accounts payable | 24,576 | 33,247 | 24,311 | 19,888 | 16,837 | |||
| Accrued liabilities | 25,417 | 40,497 | 17,188 | 8,568 | 3,701 | |||
| Deferred revenue | 6,760 | 13,316 | 5,993 | ✕ | ||||
| Other undisclosed current liabilities | 25,288 | 16,382 | 1,654 | 1,060 | ||||
| Total current liabilities: | 82,041 | 118,779 | 56,324 | 32,401 | 24,619 | |||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation | 96,574 | 31 | ||||||
| Long-term debt, excluding current maturities | 31 | |||||||
| Liabilities, other than long-term debt | 133,491 | 6,749 | 3,108 | 1,594 | ||||
| Deferred rent credit | 6,749 | 3,108 | 1,594 | |||||
| Operating lease, liability | 133,491 | 96,574 | ✕ | |||||
| Other undisclosed noncurrent liabilities | (96,574) | |||||||
| Total noncurrent liabilities: | 133,491 | 96,574 | 6,749 | 3,108 | 1,626 | |||
| Total liabilities: | 215,532 | 215,353 | 63,072 | 35,509 | 26,244 | |||
| Equity | ||||||||
| Equity, attributable to parent | 193,094 | 156,226 | 107,947 | 90,155 | 78,770 | |||
| Common stock | 0 | 0 | 0 | |||||
| Additional paid in capital | 182,554 | 173,762 | 171,382 | 168,317 | 141,728 | |||
| Retained earnings (accumulated deficit) | 10,540 | (17,536) | (63,436) | (78,163) | (62,958) | |||
| Total equity: | 193,094 | 156,226 | 107,947 | 90,155 | 78,770 | |||
| TOTAL LIABILITIES AND EQUITY: | 408,626 | 371,579 | 171,019 | 125,664 | 105,014 | |||
Income Statement (P&L) ($ in thousands)
| 10/31/2023 TTM | 1/31/2023 | 1/31/2022 | 1/31/2021 | 1/31/2020 | 1/31/2019 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 651,179 | 498,239 | 320,738 | 233,377 | 165,881 | ||
| Gain on disposition of assets for financial service operations | 320,738 | 233,377 | |||||
| Cost of revenue (Cost of Goods and Services Sold) | (307,528) | (224,894) | (145,966) | (116,687) | (75,000) | ||
| Gross profit: | 343,651 | 273,345 | 174,772 | 116,690 | 90,881 | ||
| Operating expenses | (306,685) | (234,904) | (159,892) | (132,499) | (97,924) | ||
| Operating income (loss): | 36,966 | 38,441 | 14,880 | (15,809) | (7,043) | ||
| Interest and debt expense | (88) | (73) | (121) | ||||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 20 | 720 | 477 | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 36,966 | 38,441 | 14,813 | (15,162) | (6,688) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (117) | (179) | |||||
| Income (loss) from continuing operations before income taxes: | 36,849 | 38,262 | 14,813 | (15,162) | (6,688) | ||
| Income tax expense (benefit) | (10,361) | 7,638 | (86) | (43) | (16) | ||
| Income (loss) from continuing operations: | 26,488 | 45,900 | 14,727 | (15,205) | (6,704) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 45,900 | 14,727 | (15,205) | (6,704) | |
| Net income (loss) attributable to parent: | 26,488 | 45,900 | 14,727 | (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: | 26,488 | 45,900 | 14,727 | (15,205) | (34,537) | ||
Comprehensive Income ($ in thousands)
| 10/31/2023 TTM | 1/31/2023 | 1/31/2022 | 1/31/2021 | 1/31/2020 | 1/31/2019 | ||
|---|---|---|---|---|---|---|---|
| Net income (loss): | 26,488 | 45,900 | 14,727 | (15,205) | (6,704) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 26,488 | 45,900 | 14,727 | (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.