The Lovesac Company (LOVE) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

1/31/2022
1/31/2021
1/31/2020
1/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments92,39278,34148,53949,071
Cash and cash equivalents92,39278,34148,53949,071
Receivables8,5474,5137,1893,955
Inventory, net of allowances, customer advances and progress billings108,4933,17036,40026,154
Inventory108,4933,17036,40026,154
Prepaid expense7,8524,0768,0505,934
Other undisclosed current assets7,87453,299  
Total current assets:225,158143,400100,17885,114
Noncurrent Assets
Operating lease, right-of-use asset100,891  
Property, plant and equipment34,13725,86823,84418,595
Other noncurrent assets11,3931,7511,6421,305
Total noncurrent assets:146,42127,61925,48619,900
TOTAL ASSETS:371,579171,019125,664105,014
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities89,08150,33130,74723,559
Accounts payable33,24724,31119,88816,837
Accrued liabilities40,49717,1888,5683,701
Employee-related liabilities9,9786,3628872,270
Taxes payable5,3592,4711,405751
Deferred revenue13,3165,993 
Other undisclosed current liabilities16,382 1,6541,060
Total current liabilities:118,77956,32432,40124,619
Noncurrent Liabilities
Long-term debt and lease obligation96,574  31
Long-term debt, excluding current maturities   31
Operating lease, liability96,574  
Liabilities, other than long-term debt 6,7493,1081,594
Deferred rent credit 6,7493,1081,594
Other undisclosed noncurrent liabilities(96,574)   
Total noncurrent liabilities:96,5746,7493,1081,626
Total liabilities:215,35363,07235,50926,244
Stockholders' equity
Stockholders' equity attributable to parent156,226107,94790,15578,770
Common stock 000
Additional paid in capital173,762171,382168,317141,728
Accumulated deficit(17,536)(63,436)(78,163)(62,958)
Total stockholders' equity:156,226107,94790,15578,770
TOTAL LIABILITIES AND EQUITY:371,579171,019125,664105,014

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

1/31/2022
1/31/2021
1/31/2020
1/31/2019
Revenues498,239320,738233,377165,881
Gain on disposition of assets for financial service operations 320,738233,377 
Cost of revenue
(Cost of Goods and Services Sold)
(224,894)(145,966)(116,687)(75,000)
Gross profit:273,345174,772116,69090,881
Operating expenses(234,904)(159,892)(132,499)(97,924)
Operating income (loss):38,44114,880(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:38,44114,813(15,162)(6,688)
Other undisclosed loss from continuing operations before income taxes(179)   
Income (loss) from continuing operations before income taxes:38,26214,813(15,162)(6,688)
Income tax expense (benefit)7,638(86)(43)(16)
Net income (loss) attributable to parent:45,90014,727(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:45,90014,727(15,205)(34,537)

Comprehensive Income ($ in thousands)

1/31/2022
1/31/2021
1/31/2020
1/31/2019
Net income (loss):45,90014,727(15,205)(6,704)
Comprehensive income (loss), net of tax, attributable to parent:45,90014,727(15,205)(6,704)

Statements sources

The financial statements are based on the company's filings with the 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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