LVLU

MKT CAP:$27M

Lulu's Fashion Lounge Holdings, Inc.

Market Cap

$27M

Consumer Cyclical·Apparel - Retail·🇺🇸 United States·NASDAQ

Consumer Cyc.·Apparel - Retail·🇺🇸·NASDAQ

Stock Price

$9.39+$4.04 (+75.51%)

Apr 23, 2026

Company Details

Lulu's Fashion Lounge Holdings, Inc. operates as an online retailer of women's clothing, shoes, and accessories. The company offers dresses, tops, bottoms, bridal wear, intimates, swimwear, footwear, and accessories under the Lulus brand. I...

CEO

Crystal Landsem

IPO Date

Nov 11, 2021

Website

www.lulus.com

Key Metrics TTM

Revenue

$292M

-10.7% YoY

Net Income

-$50M

EPS (Diluted)

-$0.09

Free Cash Flow

-$3M

Revenue / Share

$1.05

Gross Margin

40.5%

Operating Margin

-18.0%

Net Margin

-17.0%

FCF Margin

-1.0%

P/S

0.1x

P/E

—

Earnings Reports

Q3 2025

May 13, 2026

PENDING

Q2 2025

Aug 13, 2025

$82M-11.4%EPS -$0.01

Q1 2025

May 14, 2025

$64M-17.0%EPS -$0.01

FY 2024

Mar 27, 2025

$316M-11.1%EPS -$0.09

Q4 2024

Mar 27, 2025

$66M-11.8%EPS -$0.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$106M	$51M	$9M
Q4 21	$97M	$43M	-$5M
Q1 22	$112M	$53M	$3M
Q2 22	$132M	$60M	$11M
Q3 22	$105M	$44M	$559.0K
Q4 22	$91M	$34M	-$6M
Q1 23	$91M	$38M	-$6M
Q2 23	$106M	$47M	-$2M
Q3 23	$83M	$34M	-$5M
Q4 23	$75M	$29M	-$8M
Q1 24	$77M	$33M	-$6M
Q2 24	$92M	$42M	-$4M
Q3 24	$81M	$31M	-$7M
Q4 24	$66M	$25M	-$35M
Q1 25	$64M	$26M	-$8M
Q2 25	$82M	$37M	-$3M

Valuation

Quarter	P/S	P/E
Q3 21	274.4x	13720.1x
Q4 21	229.1x	42084.9x
Q1 22	176.1x	13490.6x
Q2 22	236.9x	33925.5x
Q3 22	94.6x	213858.4x
Q4 22	45.2x	5332.1x
Q1 23	50.3x	—
Q2 23	60.1x	—
Q3 23	49.3x	—
Q4 23	50.7x	—
Q1 24	40.6x	—
Q2 24	54.2x	—
Q3 24	46.3x	—
Q4 24	33.3x	—
Q1 25	0.1x	—
Q2 25	0.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$12M	$11M
Q4 21	-$15M	-$16M
Q1 22	$20M	$19M
Q2 22	-$10M	-$11M
Q3 22	$6M	$5M
Q4 22	-$10M	-$11M
Q1 23	$4M	$3M
Q2 23	$5M	$4M
Q3 23	$13M	$12M
Q4 23	-$6M	-$6M
Q1 24	$7M	$6M
Q2 24	$4M	$3M
Q3 24	-$6M	-$6M
Q4 24	-$3M	-$3M
Q1 25	$8M	$8M
Q2 25	-$1M	-$2M

Capital Expenditures

Quarter	CapEx
Q3 21	$625.0K
Q4 21	$1M
Q1 22	$2M
Q2 22	$1M
Q3 22	$508.0K
Q4 22	$1M
Q1 23	$1M
Q2 23	$683.0K
Q3 23	$1M
Q4 23	$487.0K
Q1 24	$959.0K
Q2 24	$664.0K
Q3 24	$792.0K
Q4 24	$29.0K
Q1 25	$567.0K
Q2 25	$519.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+95.0%	+92.7%
Q4 21	+77.5%	+80.7%
Q1 22	+62.3%	+63.7%
Q2 22	+27.0%	+36.5%
Q3 22	-1.0%	+7.7%
Q4 22	-6.0%	-4.3%
Q1 23	-18.7%	-10.9%
Q2 23	-19.3%	-10.6%
Q3 23	-21.0%	-16.0%
Q4 23	-17.6%	-14.7%
Q1 24	-15.1%	-13.9%
Q2 24	-13.3%	-10.5%
Q3 24	-3.1%	-0.7%
Q4 24	-11.8%	+22.1%
Q1 25	-17.0%	-13.4%
Q2 25	-11.4%	-12.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$2M	1.8%
Q4 21	$10M	9.9%
Q1 22	$6M	5.1%
Q2 22	$3M	2.2%
Q3 22	$4M	3.5%
Q4 22	$4M	4.2%
Q1 23	$5M	5.2%
Q2 23	$4M	4.1%
Q3 23	$4M	5.2%
Q4 23	-$13M	-17.8%
Q1 24	$2M	2.5%
Q2 24	$2M	2.4%
Q3 24	$2M	2.5%
Q4 24	-$6M	-9.3%
Q1 25	$1M	2.3%
Q2 25	$1M	1.6%

OpEx Breakdown

Quarter	G&A	S&M
Q3 21	$21M	$21M
Q4 21	$30M	$18M
Q1 22	$28M	$22M
Q2 22	$23M	$26M
Q3 22	$24M	$19M
Q4 22	$24M	$16M
Q1 23	$24M	$19M
Q2 23	$24M	$25M
Q3 23	$22M	$17M
Q4 23	$22M	$15M
Q1 24	$21M	$18M
Q2 24	$21M	$25M
Q3 24	$20M	$18M
Q4 24	$19M	$13M
Q1 25	$18M	$16M
Q2 25	$18M	$22M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$19M	$0	$19M
Q2 22	$8M	$0	$8M
Q3 22	$12M	$0	$12M
Q4 22	$10M	$0	$10M
Q1 23	$8M	$0	$8M
Q2 23	$6M	$0	$6M
Q3 23	$13M	$0	$13M
Q4 23	$3M	$0	$3M
Q1 24	$5M	$0	$5M
Q2 24	$2M	$0	$2M
Q3 24	$6M	$0	$6M
Q4 24	$4M	$0	$4M
Q1 25	$9M	$0	$9M
Q2 25	$2M	$0	$2M
Q3 25	$2M	$0	$2M
Q4 25	$3M	$0	$3M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	558M	+13.8%	+13.8%
Q4 21	428M	-23.3%	-12.7%
Q1 22	576M	+34.5%	+17.5%
Q2 22	585M	+1.6%	+19.3%
Q3 22	583M	-0.2%	+4.6%
Q4 22	578M	-1.0%	+35.0%
Q1 23	589M	+1.8%	+2.2%
Q2 23	595M	+1.1%	+1.8%
Q3 23	602M	+1.1%	+3.1%
Q4 23	607M	+0.9%	+5.0%
Q1 24	592M	-2.5%	+0.6%
Q2 24	620M	+4.8%	+4.2%
Q3 24	626M	+0.8%	+4.0%
Q4 24	627M	+0.2%	+3.3%
Q1 25	629M	+0.2%	+6.2%
Q2 25	278M	-55.7%	-55.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	—	—
Q4 21	—	—
Q1 22	$152.0K	736
Q2 22	$178.7K	736
Q3 22	$143.0K	736
Q4 22	$123.6K	736
Q1 23	$113.0K	805
Q2 23	$131.8K	805
Q3 23	$103.3K	805
Q4 23	$109.3K	686
Q1 24	$112.6K	686
Q2 24	$134.1K	686
Q3 24	$117.4K	686
Q4 24	$114.0K	580
Q1 25	$110.6K	580
Q2 25	$140.6K	580

Revenue / Employee