- Lovesac Co (NASDAQ:LOVE) reported first-quarter FY23 sales growth of 56% year-on-year to $129.4 million, beating the consensus of $115.02 million. Comparable sales grew 42.2%.
- The gross profit rose 43.5% Y/Y to $66.1 million, with the margin contracting 450 basis points to 51.1%.
- The operating expenses climbed 44.8% Y/Y to $63.5 million. The operating margin contracted 70 basis points to 2%, and operating income for the quarter was $2.6 million. Adjusted EBITDA of $6.4 million increased 19.5% Y/Y.
- EPS of $0.12 fell 7.7% from $0.13 last year, topping the consensus of $(0.21).
- Lovesac held $64.4 million in cash and equivalents as of May 1, 2022. Net cash used in operating activities for Q1 totaled $(21.8) million.
- Price Action: LOVE shares traded lower by 15.7% at $32.02 in premarket on the last check Wednesday.
Travere Therapeutics 8-K Shows Co. Commercial Supply Deal With Catalent Pharma Solutions For Services Related To Processing, Packaging Of Sparsentan Tablets, No Terms Disclosed
On December 21, 2021, Travere Therapeutics, Inc. (the “Company”) entered into a Commercial Supply Agreement (the “Supply Agreement”) with Catalent Pharma Solutions, LLC (“Catalent”),
