Sleep Number Corp. Files 10-Q for Q3 2024
Ticker: SNBR · Form: 10-Q · Filed: 2024-11-05T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, reporting
Related Tickers: SNBR
TL;DR
**SNBR 10-Q filed: Latest financials out for Q3 2024. Check for performance updates.**
AI Summary
Sleep Number Corp. filed its 10-Q for the period ending September 28, 2024. The company reported financial results and provided updates on its business operations. Key financial data and disclosures relevant to investors are included in this filing.
Why It Matters
This filing provides investors with the latest financial performance and operational details of Sleep Number Corp., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard for public companies, but the specific financial details and disclosures within can reveal varying levels of risk.
Key Numbers
- 2024-09-28 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 20241105 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Sleep Number Corp. (company) — Filer of the 10-Q
- 2024-09-28 (date) — End of the reporting period
- 20241105 (date) — Filing date
- MINNEAPOLIS (location) — Company headquarters city
- MN (location) — Company headquarters state
FAQ
What was Sleep Number Corp.'s fiscal year end date?
Sleep Number Corp.'s fiscal year ends on December 28.
What is the SEC file number for Sleep Number Corp.?
The SEC file number is 000-25121.
What is the SIC code for Sleep Number Corp.?
The Standard Industrial Classification code is HOUSEHOLD FURNITURE [2510].
What is the company's primary business address?
The business address is 1001 THIRD AVENUE SOUTH, MINNEAPOLIS, MN 55404.
When was the company's name changed from SELECT COMFORT CORP?
The date of the name change was 19980821.
Filing Stats: 4,479 words · 18 min read · ~15 pages · Grade level 15.2 · Accepted 2024-11-05 16:23:04
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share SNBR Nasdaq Global Select
Filing Documents
- snbr-20240928.htm (10-Q) — 2103KB
- a2024-q3ex311.htm (EX-31.1) — 9KB
- a2024-q3ex312.htm (EX-31.2) — 9KB
- a2024-q3ex321.htm (EX-32.1) — 5KB
- a2024-q3ex322.htm (EX-32.2) — 5KB
- snbr-20240928_g1.jpg (GRAPHIC) — 16KB
- 0000827187-24-000091.txt ( ) — 7108KB
- snbr-20240928.xsd (EX-101.SCH) — 36KB
- snbr-20240928_cal.xml (EX-101.CAL) — 63KB
- snbr-20240928_def.xml (EX-101.DEF) — 97KB
- snbr-20240928_lab.xml (EX-101.LAB) — 473KB
- snbr-20240928_pre.xml (EX-101.PRE) — 309KB
- snbr-20240928_htm.xml (XML) — 1078KB
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION 1 Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Shareholders' Deficit 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 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 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26
: OTHER INFORMATION
PART II: OTHER INFORMATION 27 Item 1.
Legal Proceedings
Legal Proceedings 27 Item 1A.
Risk Factors
Risk Factors 27 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 1 | 3Q 2024 FORM 10-Q SLEEP NUMBER CORPORATION Table of contents
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS SLEEP NUMBER CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets (unaudited - in thousands, except per share amounts) September 28, 2024 December 30, 2023 Assets Current assets: Cash and cash equivalents $ 1,592 $ 2,539 Accounts receivable, net of allowances of $ 1,134 and $ 1,437 , respectively 17,026 26,859 Inventories 93,039 115,433 Prepaid expenses 17,827 16,660 Other current assets 40,784 44,637 Total current assets 170,268 206,128 Non-current assets: Property and equipment, net 140,406 179,503 Operating lease right-of-use assets 367,133 395,411 Goodwill and intangible assets, net 66,468 66,634 Deferred income taxes 27,267 20,253 Other non-current assets 93,109 82,951 Total assets $ 864,651 $ 950,880 Liabilities and Shareholders' Deficit Current liabilities: Borrowings under revolving credit facility $ 516,500 $ 539,500 Accounts payable 127,990 135,901 Customer prepayments 43,514 49,143 Accrued sales returns 19,688 22,402 Compensation and benefits 28,909 28,273 Taxes and withholding 17,685 17,134 Operating lease liabilities 82,488 81,760 Other current liabilities 57,268 61,958 Total current liabilities 894,042 936,071 Non-current liabilities: Operating lease liabilities 318,665 351,394 Other non-current liabilities 100,728 105,343 Total liabilities 1,313,435 1,392,808 Shareholders' deficit: Undesignated preferred stock; 5,000 shares authorized, no shares issued and outstanding — — Common stock, $ 0.01 par value; 142,500 shares authorized, 22,371 and 22,235 shares issued and outstanding, respectively 224 222 Additional paid-in capital 25,527 16,716 Accumulated deficit ( 474,535 ) ( 458,866 ) Total shareholders' deficit ( 448,784 ) ( 441,928 ) Total liabilities and shareholders' deficit $ 864,651 $ 950,880 See accom