Lulus Fashion Lounge | 8-K: FY2026 Q2 Revenue: USD 67.81 M

Revenue: As of FY2026 Q2, the actual value is USD 67.81 M.

EPS: As of FY2026 Q2, the actual value is USD -0.52.

EBIT: As of FY2026 Q2, the actual value is USD -1.19 M.

Second Quarter 2026 Financial Highlights (vs. Q2 2025)

Net Revenue

Lulu’s Fashion Lounge Holdings, Inc. reported net revenue of $67.8 million, a 17% decrease compared to the same period last year, driven by a 17% decrease in Total Orders Placed and higher return rates. This was partially offset by a 1% increase in Average Order Value from $145 to $147, and an increase in wholesale revenue.

Gross Profit and Gross Margin

Gross profit decreased 11% to $33.0 million. Gross Margin increased 330 basis points to 48.6%.

Net Loss

Net loss was - $1.5 million, compared to a net loss of - $3.0 million in the same period last year.

Adjusted EBITDA and Margin

Adjusted EBITDA was $1.0 million, compared to $0.5 million in the same period last year. Adjusted EBITDA Margin was 1.5%, up from 0.6% in the prior year.

Operational Metrics

Active Customers were 2.2 million, representing a 13% decrease compared to 2.5 million in the same period last year, and a 5% decrease from the first quarter 2026.

Inventory Balance

Inventory balance was $28.6 million, a 23% decrease compared to $37.3 million in the same period last year.

Cash Flow from Operating Activities

Net cash provided by operating activities was $0.6 million, compared to net cash used in operating activities of - $1.4 million in the same period last year.

Free Cash Flow

Free Cash Flow was $0.1 million, compared to - $1.9 million in the same period last year.

Debt

Total debt decreased by $3.2 million during the thirteen weeks ended June 28, 2026, and by $4.3 million during the twenty-six weeks ended June 28, 2026. Net Debt increased by $0.1 million during the thirteen weeks ended June 28, 2026, and decreased by $5.8 million during the twenty-six weeks ended June 28, 2026.

Condensed Consolidated Statements of Operations (Q2 2026 vs. Q2 2025 - in thousands)

• Net revenue: $67,807 vs. $81,520
• Cost of revenue: $34,852 vs. $44,588
• Gross profit: $32,955 vs. $36,932
• Selling and marketing expenses: $18,381 vs. $21,993
• General and administrative expenses: $15,818 vs. $17,562
• Loss from operations: - $1,244 vs. - $2,623
• Interest expense: - $302 vs. - $856
• Other income, net: $54 vs. $546
• Loss before benefit (provision) for income taxes: - $1,492 vs. - $2,933
• Income tax benefit (provision): $9 vs. - $62
• Net loss and comprehensive loss: - $1,483 vs. - $2,995

Condensed Consolidated Balance Sheets (As of June 28, 2026 vs. December 28, 2025 - in thousands)

• Cash and cash equivalents: $4,123 vs. $2,661
• Inventory, net: $28,642 vs. $32,444

Condensed Consolidated Statements of Cash Flows (26 Weeks Ended June 28, 2026 vs. June 29, 2025 - in thousands)

• Net cash provided by operating activities: $7,486 vs. $6,966
• Net cash used in investing activities: - $843 vs. - $1,053
• Net cash used in financing activities: - $5,181 vs. - $8,839
• Net increase in cash and cash equivalents: $1,462 vs. - $2,926

2026 Financial Outlook

Lulu’s Fashion Lounge Holdings, Inc. reaffirmed its financial outlook for the full fiscal year 2026. The company expects Adjusted EBITDA to become positive, compared to - $1.2 million in 2025, and anticipates the net revenue growth trend to improve year-over-year, compared to an 11% decrease in 2025. Capital expenditures are projected to be between $2.0 million and $2.5 million, inclusive of capitalized software, comparable to 2025 levels.