Lovesac Shares Jump On Q2 Beat, Margin Expansion - Lovesac (NASDAQ:LOVE)

Lovesac Co LOVE reported second-quarter FY22 sales growth of 65.4% year-on-year, to $102.4 million, beating the analyst consensus of $90.97 million. Comparable Sales increased 39.5%.
The gross profit rose 90% Y/Y to $59 million, with the margin expanding 749 basis points to 57.6%.
The operating expenses climbed 55.9% Y/Y to $50 million. The operating margin was 8.8%, and operating income for the quarter was $9 million. Adjusted EBITDA of $12.4 million increased 467.5% Y/Y.
EPS of $0.52 versus $(0.08) last year, topped the consensus of $(0.08).
Lovesac held $68.5 million in cash and equivalents as of August 1, 2021. Net cash provided by operating activities for Q2 totaled $10.4 million.
"The third quarter is off to a strong start and as we look to the second half of the year, we are confident in our ability to execute on our key strategic growth priorities and navigate the tight supply chain environment," said CEO Shawn Nelson.
Price Action: LOVE shares are trading higher by 16.73% at $58.90 on the last check Thursday.