Welcome to our dedicated page for Luvu Brands news (Ticker: LUVU), a resource for investors and traders seeking the latest updates and insights on Luvu Brands stock.
Luvu Brands, Inc. reports news around its vertically integrated consumer lifestyle brand business, including the design, manufacture and marketing of products sold through e-commerce, dropship, wholesale and retail channels. Recurring updates cover quarterly and annual operating results, revenue trends, gross margin, adjusted EBITDA, inventory, cash flow, product launches and distribution initiatives.
The company’s news also centers on its brand portfolio, including Liberator, Jaxx, Avana and FOAMLABS, along with sourcing costs, import-tariff effects, domestic manufacturing efficiency, automation, product mix and partnerships in consumer lifestyle and sexual wellness categories.
Luvu Brands, Inc. (OTCQB:LUVU) reported preliminary unaudited net sales of $6.2 million for the three months ended June 30, 2022, a 6% increase from $5.8 million in the same period last year. For the fiscal year, net sales reached a record $26.4 million, representing a 14% growth from $23.1 million in the prior year. The company cautioned that these preliminary results are unaudited and could change. Future performance remains uncertain, as indicated by the presence of forward-looking statements discussing various risks and uncertainties.
Luvu Brands has announced a two-year exclusive distribution agreement making ORION the sole wholesale distributor of LIBERATOR products in the E.U., effective March 1, 2022. This partnership aims to enhance brand recognition and expand ORION's product offerings. The collaboration features six popular LIBERATOR products available for purchase through ORION's online catalog, with plans to introduce additional items. Both companies express optimism for a mutually beneficial relationship that caters to the demand for unique, non-mainstream products.
Luvu Brands reported a 9% increase in third-quarter net sales, reaching $6.8 million compared to $6.2 million in the prior year. Gross profit rose slightly to $1.8 million, though gross profit margin declined to 27% from 28%. Operating expenses increased by 7% to $1.3 million. The net income for the quarter was $452,000, or $0.01 per share, down from $469,000 in the prior year. The company anticipates fourth-quarter revenue to exceed $6 million, indicating a projected 15% year-over-year growth.
Luvu Brands, Inc. will announce its third quarter fiscal 2022 financial results on May 16, 2022. A conference call is scheduled for May 17, 2022 at 11:00 a.m. EST to discuss these results. Investors can participate by registering at the provided link. A Q&A session will follow the presentation for shareholders. A replay of the call will be available until August 15, 2022 on the Company's website. Luvu Brands, known for its consumer lifestyle products, operates a 140,000 square foot facility in Atlanta and focuses on sustainability.
Luvu Brands (OTCQB:LUVU) will announce its Q3 fiscal 2022 financial results on May 16, 2022. A conference call to discuss these results is scheduled for May 17, 2022, at 11:00 a.m. EST. Investors can participate by registering online, and a Q&A session will follow the presentation. The recorded replay of the call will be available until August 15, 2022. Luvu Brands specializes in designing and marketing lifestyle products that focus on sustainability and well-being through brands like Liberator, Avana, and Jaxx.
Luvu Brands, Inc. (OTCQB:LUVU) will release its financial results for the third quarter of fiscal 2022 on May 16, 2022. A conference call is scheduled for May 17, 2022, at 11:00 a.m. EST, to discuss these results, followed by a Q&A session. Investors can join the call through registration or by phone. The recorded replay will be available until August 15, 2022. Luvu Brands specializes in designing and marketing consumer lifestyle products, including the brands Liberator, Avana, and Jaxx, while focusing on sustainability and eco-friendly practices.
Luvu Brands, Inc. (OTCQB:LUVU) announced the appointment of Alexander Sannikov as Chief Financial Officer, effective April 29, 2022. Sannikov, who joined the company on April 11, has significant finance leadership experience, including roles at Weather Group and AMES Taping Tools. His appointment follows a strong financial performance in the first half of fiscal 2022, with the company aiming to enhance profitability and explore mergers and acquisitions. CEO Louis Friedman expressed confidence in Sannikov's leadership and potential for growth.
Luvu Brands, Inc. (OTCQB:LUVU) reported record net sales of $13.4 million for the first half of fiscal 2022, up 21% year-over-year. The second quarter saw a 26% increase in net sales to $7.2 million. However, net income fell significantly to $167,000, or $0.00 per share, compared to $1.465 million, or $0.02 per share, last year. Operating expenses rose 20% to $1.326 million. Gross profit margins declined, with gross profit as a percentage of net sales at 22% versus 27% in the prior year. The company plans to enhance operations through automation and expanded supplier relationships.
Luvu Brands, Inc. (OTCQB:LUVU) reported preliminary unaudited net sales for October and November 2021, showing a significant increase of 32% compared to the same period in 2020, totaling approximately $1,059,000. CEO Louis Friedman highlighted strong orders and shipments for their Liberator and Jaxx products, largely driven by e-commerce sales. The company anticipates ending the second quarter (December 31) with sales up by 28% to 32% year-over-year.
Luvu Brands (OTCQB:LUVU) will present at the Sidoti Fall Virtual Investor Conference from December 8-9, 2021. CEO Louis Friedman and CFO Ronald Scott will host a 30-minute presentation on December 8 at 12:15 ET, accessible live online. Attendees can register for the presentation and virtual one-on-one meetings for free, without the need for Sidoti membership. Luvu Brands designs and markets consumer lifestyle brands, including Liberator, Avana, and Jaxx, from its Atlanta headquarters.