Luvu Brands Files 10-Q for Q2 FY2025

TL;DR

Luvu Brands 10-Q filed. Q2 FY25 details out.

AI Summary

Luvu Brands, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of fiscal year 2025. Key financial data points such as common stock par value and authorized shares are listed, but specific revenue or profit figures for the quarter are not detailed in this excerpt.

Why It Matters

This filing provides a snapshot of Luvu Brands' financial standing and operational details for the second quarter of fiscal year 2025, which is crucial for investors to assess the company's performance.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the lack of detailed financial performance metrics in the provided excerpt necessitates a medium risk assessment.

Key Numbers

• 0.01 — Common Stock Par Value (Par value per share of common stock)
• 175000000 — Authorized Common Shares (Total number of common shares authorized)

Key Players & Entities

• Luvu Brands, Inc. (company) — Filer of the 10-Q report
• 20241231 (date) — End of the reporting period
• 20250210 (date) — Filing date
• 0001374567 (company) — Central Index Key for Luvu Brands, Inc.

FAQ

Filing Documents

• luvu_10q.htm (10-Q) — 943KB
• luvu_ex311.htm (EX-31.1) — 12KB
• luvu_ex312.htm (EX-31.2) — 12KB
• luvu_ex321.htm (EX-32.1) — 3KB
• luvu_ex322.htm (EX-32.2) — 3KB
• 0001654954-25-001266.txt ( ) — 5226KB
• luvu-20241231.xsd (EX-101.SCH) — 55KB
• luvu-20241231_lab.xml (EX-101.LAB) — 303KB
• luvu-20241231_cal.xml (EX-101.CAL) — 48KB
• luvu-20241231_pre.xml (EX-101.PRE) — 249KB
• luvu-20241231_def.xml (EX-101.DEF) — 136KB
• luvu_10q_htm.xml (XML) — 919KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Page Number ITEM 1.

Financial Statements

Financial Statements Consolidated Balance Sheets – At December 31, 2024 (unaudited) and June 30, 2024 4 Consolidated Statements of Operations – For the Three and Six Months Ended December 31, 2024 and December 31, 2023 (unaudited) 5 Consolidated Statements of Stockholders' Equity – For the Three and Six Months Ended December 31, 2024 and December 31, 2023 (unaudited) 6 Consolidated Statements of Cash Flows – For the Six Months Ended December 31, 2024 and December 31, 2023 (unaudited) 7 Notes Consolidated Financial Statements (unaudited) 8 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 27 ITEM 4.

Controls and Procedures

Controls and Procedures 27

– OTHER INFORMATION

PART II – OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 28 ITEM 1A.

Risk Factors

Risk Factors 28 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 ITEM 3. Defaults Upon Senior Securities 28 ITEM 4. Mine Safety Disclosures 28 ITEM 5. Other Information 28 ITEM 6. Exhibits 29

SIGNATURES

SIGNATURES 30 Unless the context otherwise indicates, when used in this report, the terms the "Company," "LUVU", "we," "us, "our" and similar terms refer to LUVU Brands, Inc. and the Company's wholly owned subsidiaries, OneUp Innovations, Inc. ("OneUp"), and Foam Labs, Inc. ("Foam Labs"). The Company's corporate website is www.LuvuBrands.com . Certain of the Company's documents, its news releases and the Company's filings with the U.S. Securities and Exchange Commission including financial statements are available on the Company's corporate website. Unless specifically set forth to the contrary, the information that appears on the Company's websites or its various social media platforms is not part of this report. 2 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION This report may contain forward-looking statements, which include statements that are predictive in nature, depend upon or refer to future events or conditions, and usually include words such as "expects," "anticipates," "intends," "plan," "believes," "predicts", "estimates" or similar expressions. In addition, any statement concerning future financial performance, ongoing business strategies or prospects and possible future actions are also forward-looking statements. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties and the accuracy of assumptions concerning the Company, the performance of the industry in which they do business and economic and market factors, among other things. These forward-looking statements are not guarantees of future performance. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of this report. Except to the extent required by federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information,

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS LUVU BRANDS, INC. AND SUBSIDIARIES Consolidated Balance Sheets December 31, 2024 June 30, (unaudited) 2024 Assets: (in thousands, except share data) Current assets: Cash and cash equivalents $ 1,349 $ 1,028 Accounts receivable, net of allowance for doubtful accounts and allowance for discounts and returns of $ 10 on December 31, 2024 and $ 11 on June 30, 2024 1,611 1,061 Inventories, net of allowance for inventory reserve of $ 165 on December 31, 2024 and $ 214 on June 30, 2024 3,242 3,287 Other current assets 139 141 Total current assets 6,341 5,517 Equipment, property and leasehold improvements, net 1,648 1,870 Finance lease assets 104 103 Operating lease assets 1,297 1,545 Other assets 96 96 Total assets $ 9,486 $ 9,131 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 2,040 $ 1,502 Current debt 2,117 1,639 Other accrued liabilities 620 508 Operating lease liability 584 528 Total current liabilities 5,361 4,177 Noncurrent liabilities: Deferred Tax Liabilities 119 119 Long-term debt 340 854 Long-term operating lease liability 836 1,151 Total noncurrent liabilities 1,295 2,124 Total liabilities 6,656 6,301 Commitments and contingencies (See Note 12) - - Stockholders' equity: Preferred stock, 5,700,000 shares authorized, $ 0.0001 par value none issued and outstanding - - Series A Convertible Preferred stock, 4,300,000 shares authorized $ 0.0001 par value, 4,300,000 shares issued and outstanding with a liquidation preference of $ 1,000 as of December 31, 2024 and June 30, 2024 - - Common stock, $ 0.01 par value, 175,000,000 shares authorized, 76,834,057 and 76,547,672 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively 766 765 Additional paid-in capital 6,270 6,253 Accumulated deficit ( 4,206 ) (

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View this 10-Q filing on SEC EDGAR