-=Lulu’s Fashion Lounge (LVLU) reported earnings on Tue 17 May 22 (a/h)

 ** charts after earnings **

CHICO, Calif., May 17, 2022 (GLOBE NEWSWIRE) -- Lulu’s Fashion Lounge Holdings, Inc. (Nasdaq: LVLU) today reported financial results for the first quarter ended April 3, 2022.

First Quarter 2022 Highlights:

Net revenue up 62%, compared to the same period last year.

Gross Margin increased 220 basis points to 47.3% while gross profit increased 70%, in each case compared to the same period last year.

Net income of $2.0 million, a $3.4 million increase compared to the same period last year.

Adjusted EBITDA of $9.9 million, an 84% increase compared to the same period last year.

Our strong cash flow model and balance sheet enabled us to pay down $10 million (40%) of our revolving line of credit during the quarter; resulting in a net cash position of $4.4 million, comprised of $19.4 million of cash partially offset by $15.0 million of borrowings on our revolving line of credit.

Net cash from operating activities amounted to $20.2 million for the quarter ended April 3, 2022, an increase of 22% compared to the same period last year.