Luvu Brands Provides Preliminary Q2 Net Sales

Rhea-AI Summary

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.

Positive

• Preliminary net sales of approximately $8.23 million for Q2, a 15% increase year-over-year.
• Record net sales of $16.31 million for the six months ended December 31, 2022, a 22% increase from the prior fiscal year.

Negative

• Preliminary results are unaudited and may differ from actual reported sales.
• The release contains forward-looking statements that may not guarantee future performance.

ATLANTA, GA / ACCESSWIRE / January 9, 2023 / Luvu Brands, Inc., (OTCQB:LUVU), a designer, manufacturer and marketer of a portfolio of consumer lifestyle brands, today announced that preliminary unaudited net sales for the three months ended December 31, 2022 were approximately $8.23 million (or approximately 15% higher) than the $7.18 million recorded in the same period of fiscal 2022. For the six months ended December 31, 2022, preliminary net sales were a record $16.31 million, an increase of approximately 22% from the $13.41 million reported for the prior fiscal year.

Note About Preliminary Results

The estimated preliminary net sales for the second quarter and six months ended December 31, 2022, presented in this release are not reviewed or audited and may change. The preliminary unaudited net sales presented herein include calculations or figures that have been prepared internally by management and have not been reviewed by our independent registered public accounting firm. There can be no assurances that Luvu Brands reported net sales for the second quarter and six months ended December 31, 2022, will not differ from the amounts presented herein. This preliminary financial data should not be viewed as a substitute for full audited financial statements prepared in accordance with GAAP and is not necessarily indicative of the results to be achieved for any future period.

Forward Looking Statements

This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. Luvu Brands has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements are unknown at this time. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. You are urged to carefully review any cautionary statements and other disclosures in Luvu Brand's Annual Report on Form 10-K for the year ended June 30, 2022, and its other filings with the Securities and Exchange Commission. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Luvu Brands undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

About Luvu Brands

Luvu Brands, Inc. designs, manufactures, and markets a portfolio of consumer lifestyle brands through the Company's websites, online mass merchants, and specialty retail stores worldwide. Our brands include Liberator®, an iconic product category for enhancing sensuality and intimacy; Avana®, inclined bed therapy products, assistive in relieving medical conditions associated with acid reflux, surgery recovery, and chronic pain; and Jaxx®, a diverse range of casual fashion daybeds, sofas, and beanbags. As a sustainability-focused Company we use repurposed polyurethane foam and fabrics wherever possible and vacuum compress all our foam-based products to reduce our carbon footprint. Headquartered in Atlanta, Georgia, the Company occupies a 140,000 square foot vertically-integrated manufacturing facility and employs over 200 people. The Company brand sites include: www.liberator.com, www.jaxxliving.com, www.avanacomfort.com, plus other global e-commerce sites. For more information about Luvu Brands, please visit www.luvubrands.com.

Company Contact:

Luvu Brands, Inc.
Alexander A. Sannikov
Chief Financial Officer
770-246-6426
Alexander.Sannikov@LuvuBrands.com

SOURCE: Luvu Brands, Inc.

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FAQ

What are Luvu Brands' preliminary net sales for Q2 2022?

Luvu Brands reported preliminary net sales of approximately $8.23 million for the three months ending December 31, 2022.

How much did Luvu Brands earn in net sales for the six months ended December 31, 2022?

For the six months ending December 31, 2022, Luvu Brands reported record net sales of $16.31 million.

What is the year-over-year growth for Luvu Brands in Q2 2022?

Luvu Brands experienced a 15% year-over-year growth in Q2 2022 compared to the same period in 2021.

Why are the preliminary results from Luvu Brands important?

The preliminary results are important as they indicate significant growth; however, they are subject to change and are not audited.