In This Story
Luvu Brands Inc (LUVU-1.00%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $7,186,000, up 6% from $6,786,000 in the same quarter the previous year. The increase is attributed to stronger sales of Liberator and Jaxx products.
Cost of goods sold for the quarter was $5,204,000, representing 72% of sales, compared to 73% in the same quarter of the previous year. This resulted in a gross profit of $1,982,000, up from $1,818,000 in the previous year.
Operating expenses for the quarter were $1,691,000, or 24% of net sales, compared to $1,664,000, or 25% of net sales, in the previous year.
The company reported a net income of $193,000 for the quarter, compared to a net income of $29,000 in the previous year. The increase in net income is due to higher sales and improved gross margins.
Cash provided by operating activities was $363,000 for the six months ended December 31, 2024, compared to $370,000 in the previous year.
The filing also details the company's liquidity and capital resources, noting cash and cash equivalents of $1,349,285 as of December 31, 2024.
Luvu Brands continues to focus on expanding its product lines and improving operational efficiencies to drive future growth.
The company does not anticipate any material legal proceedings or changes in its internal control over financial reporting.
The report includes various financial statements and notes, providing a detailed overview of the company's financial condition and results of operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Luvu Brands Inc quarterly 10-Q report dated February 10, 2025. To report an error, please email earnings@qz.com.