Luvu Brands Announces First Quarter Fiscal 2025 Financial Results [Yahoo! Finance]
LUVU BRANDS INC (LUVU)
NASDAQ:AMEX Investor Relations:
luvubrands.com
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Source: Yahoo! Finance
ATLANTA, GA / ACCESSWIRE / November 14, 2024 / Luvu Brands, Inc. (OTCQB:LUVU), a designer, manufacturer, and marketer of a portfolio of consumer lifestyle brands, announced today its financial and operational results for the first quarter of fiscal 2025 ending September 30, 2024. For the three months ended September 30, 2024, highlights include: Net revenue decreased by 4% to $5.76 million versus the prior year. Gross margin remained flat at 26% from a year ago. Net loss of $211,000, or $0.00 per basic and diluted share. Adjusted EBITDA was a loss of $3,000, down from a profit of $63,000 a year ago. Inventory at September 30, 2024, was $3.0 million, an 8% decrease from June 30, 2024. As of September 30, 2024, the Company had $1.07 million in cash and cash equivalents, up 4% from June 30, 2024. Louis Friedman, Chairman and Chief Executive Officer, commented on the results, "Despite the challenging economic environment, we remain committed to strengthening our market po
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