The Lovesac Company (NASDAQ:LOVE) reported third quarter earnings before the bell today..
On a GAAP basis, LOVE reported net loss of $ 2.49 million or 22 cents per share, compared with loss of $ 2.18 million or 43 cents per share, a year ago period.
Excluding special items, the company announced adjusted net loss of $ 2.05 million or 15 cents per share.
Headquartered in Stamford, Connecticut, LOVE recorded net sales that rose 71% to $ 41.69 million from $ 24.39 million in the same quarter last year.
Analysts polled by Thomson Reuters expected Lovesac to reveal revenue of $ 36.29 million for the third quarter.
Shawn Nelson, Chief Executive Officer, stated, We had an exceptional third quarter and are very pleased with our financial results. We believe that our highly differentiated product and disruptive direct-to-consumer business model are resonating with both new and existing customers alike as we continue to lean into our marketing strategy.