Every 10-Q that Sleep Number Corporation (SNBR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SNBR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SNBR filings page.
Sleep Number Corporation reports a steep first-quarter loss and warns of substantial doubt about its ability to continue as a going concern. Net sales fell 19% year over year to $319 million as comparable retail sales dropped 16% and store traffic weakened. Gross margin compressed to 57.9% from 61.2%, and restructuring costs of $21.7 million, including $18 million of asset impairments tied to store and office closures, contributed to a net loss of $50.3 million, or $2.19 per share. The company ended the quarter with $1.5 million in cash, $606 million of borrowings under its credit facility and negative operating cash flow. A recent credit agreement amendment added a $25 million term loan and short-term covenant forbearance, but management does not expect to remain in compliance with covenants over the next 12 months and is exploring strategic and financing alternatives.
Sleep Number (SNBR) reported a weak quarter with lower sales and losses. Net sales fell to $342.9 million, down 20% year over year, as lower volume and fewer stores weighed on results. Gross profit was $205.4 million with a 59.9% gross margin, slightly below last year’s 60.8%.
Operating loss was $40.3 million, driven in part by $39.2 million in restructuring costs. Net loss widened to $39.8 million, or $1.73 per diluted share. Sales and marketing fell in dollars but rose as a percentage of sales due to deleverage. R&D and G&A also declined year over year.
Liquidity remains tight. Cash was $1.3 million and borrowings under the credit facility were $579.5 million. For the first nine months, operating cash flow used $5.2 million and free cash flow used $17.0 million. On November 4, 2025, the company amended its credit agreement, extending maturity to December 3, 2027, adjusting pricing and covenants, and adding reporting requirements. The company was in compliance following the amendment. As of September 27, 2025, 22,790,000 common shares were outstanding.