The earnings call presented a mix of positive achievements, such as the strongest Q2 performance in special occasion categories, a return to positive adjusted EBITDA, and successful brand engagement efforts. However, these highlights were somewhat offset by challenges like a decline in net revenue, underperformance in shoes and separates, and increased interest expenses. The sentiment leans more towards positive due to significant strategic and financial improvements noted during the call.

Company Guidance -

Q3 2025

In the second quarter of fiscal 2025, Lulu's Fashion Lounge reported several key financial metrics and strategic initiatives. The company recorded net revenue of approximately $81.5 million, marking an 11% decrease year-over-year, primarily due to a 16% decrease in total orders placed, although this was partially offset by a 1% increase in average order value. Despite the revenue decline, Lulu's achieved positive adjusted EBITDA of $0.5 million, reflecting a margin of 0.6%, compared to a negative 0.2% margin in the prior year period. Gross margin for the quarter was 45.3%, slightly down by 20 basis points from the previous year, while return rates improved by 114 basis points, marking the fourth consecutive quarter of such improvement. The company also reported a net loss of $3 million, a significant improvement from the $10.8 million loss in the same quarter last year. Selling and marketing expenses decreased by $2.9 million, while general and administrative expenses dropped by $3.9 million, both contributing to a leaner cost structure. Additionally, inventory levels at the end of the quarter stood at $37.3 million, a slight decrease of 1% year-over-year. For the third quarter, Lulu's anticipates continuing its trend of positive adjusted EBITDA and expects capital expenditures for the full year to be at the low end of the previously estimated range.

Strong Performance in Special Occasion and Bridesmaid Categories

Delivered the strongest Q2 performance ever in special occasion with formal and bridesmaid categories seeing robust year-over-year and net sales growth.

Return to Positive Adjusted EBITDA

Returned to positive adjusted EBITDA in the second quarter, driven by a leaner cost structure and improved product margins.

Improvement in Product Margins

Product margins improved for the third consecutive quarter and increased by roughly 170 basis points compared to the prior year period.

Reduction in Operational Expenses

Operational expenses declined 15% year-over-year, with fixed costs down 19%.

Brand Engagement and Visibility Success

Brand equity score reached a record-breaking quarter with high-impact influencer collaborations and increased social engagement.

Growth in Wholesale Business

Significant traction in wholesale business with the addition of 3 new major partners and growth among boutique retailers.

Lulu's Fashion Lounge Holdings (LVLU) Earnings, Revenues Date & History

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LVLU Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2025	2025 (Q3)	- / -	-2.4	―	―	―
Aug 13, 2025	2025 (Q2)	-0.45 / -1.08	-3.9	72.31% (+2.82)	―
May 14, 2025	2025 (Q1)	-1.50 / -2.85	-2.25	-26.67% (-0.60)	―
Mar 27, 2025	2024 (Q4)	-2.85 / -11.40	-2.7	-322.22% (-8.70)	―
Nov 13, 2024	2024 (Q3)	-1.16 / -2.40	-1.5	-60.00% (-0.90)	―
Aug 14, 2024	2024 (Q2)	-0.64 / -3.90	-1.05	-271.43% (-2.85)	―
May 08, 2024	2024 (Q1)	-0.86 / -2.25	-2.1	-7.14% (-0.15)	―
Mar 06, 2024	2023 (Q4)	-1.54 / -2.70	-2.1	-28.57% (-0.60)	―
Nov 08, 2023	2023 (Q3)	-0.97 / -1.50	0.3	-600.00% (-1.80)	―
Aug 08, 2023	2023 (Q2)	-0.32 / -1.05	2.25	-146.67% (-3.30)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

LVLU Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 13, 2025	$3.72	$3.93	+5.65%
May 14, 2025	$6.30	$5.72	-9.21%
Mar 27, 2025	$6.36	$5.84	-8.18%
Nov 13, 2024	$24.15	$21.22	-12.13%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.