LUVU BRANDS INC - LUVU STOCK NEWS

Luvu Brands, Inc. (OTCQB:LUVU) reported its financial results for the fiscal year ending June 30, 2024. Key highlights include:

• Net revenue decreased 16% to $24.5 million
• Gross margin improved to 27% from 25% a year ago
• Net loss of $399,000, or $0.01 per share
• Adjusted EBITDA of $612,000, down 69% from previous year
• Inventory reduced by 22% to $3.3 million
• Cash and cash equivalents remained flat at $1.03 million

CEO Louis Friedman cited macroeconomic challenges and the absence of significant marketing events as factors affecting sales. The company increased digital advertising and engaged online influencers to counter the decline. Luvu Brands is focusing on product diversification, international expansion, digital transformation, and strategic marketing collaborations to drive future growth.

Luvu Brands (OTCQB:LUVU) reported its Q3 2024 financial results. The company achieved net sales of $5.9 million, a 14% decrease compared to Q3 2023. While sales from its Liberator brand dropped by 23%, its Jaxx and Avana brands saw growth of 16% and 5%, respectively. Despite a slight increase in gross margin from 26% to 28% due to lower labor and raw material costs, the company posted a net loss of $94,000, contrasting with a net income of $293,000 in the previous year. Operating expenses rose by 13% to $1.6 million. Adjusted EBITDA declined to $150,000 from $506,000. For the nine months ending March 31, 2024, net sales dropped 18% to $18.8 million, with a net loss of $191,000, compared to a net income of $1.48 million in the previous year. Despite the challenging quarter, CEO Louis Friedman highlighted the company's focus on efficiency and expected margin improvements.

Luvu Brands (OTCQB:LUVU) reported record Q2 net sales of $8.1 million, a 13.2% increase year-over-year, for the fiscal second quarter ending December 31, 2022. Total gross profit rose to $2.3 million, up 43% from the previous year, with a gross profit margin of 27.8%. Net income was $0.7 million or $0.01 per share, compared to $0.2 million or $0.00 in the prior year. Despite increased operating expenses of $1.5 million, Adjusted EBITDA improved to $877,000, contrasting with $332,000 in the same period last year. The company anticipates challenges for future quarters.

Luvu Brands, Inc. (OTCQB:LUVU) reported record fiscal Q2 2023 net sales of $8.1 million, a 13.2% increase year-over-year. The company's gross profit rose 43% to $2.3 million, with a gross margin improvement to 27.8% from 21.9%. Operating expenses slightly increased to $1.5 million. The net income was $0.7 million, or $0.01 per share, up from $0.2 million, or $0.00 per share, in the prior year. For the first six months, net sales also saw a significant 20.8% growth to $16.2 million, with adjusted EBITDA reaching $1,557,000. However, the company foresees potential challenges in maintaining this growth trend amid economic uncertainties.

Luvu Brands, Inc. (LUVU) reported preliminary unaudited net sales of approximately $8.23 million for the three months ending December 31, 2022, marking a 15% increase from $7.18 million in the same period of 2021. For the six-month period, net sales reached a record $16.31 million, a 22% growth over $13.41 million in the prior year. However, these results are preliminary and not yet audited, implying potential changes. Investors should consider the associated risks and uncertainties.