Sleep Number Corporation
5.52-0.54 (-8.91%)
Oct 29, 4:00:00 PM EDT · NasdaqGS · SNBR · USD
Key Stats
Market Cap
125.70MP/E (TTM)
-Basic EPS (TTM)
-1.82Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Sleep Number's Q2 FY2025 net sales fell 20% y/y to $327.9M, driven by a 19% drop in Total Retail comparable sales amid softer consumer spending, while gross margin held steady at 59.1%. Operating expenses plunged 18% y/y to $193.8M, thanks to cuts in sales and marketing, but restructuring costs jumped to $8.3M from $1.8M, yielding a slim operating loss of $0.1M versus $6.1M income last year. Net loss widened to $25.0M or $1.09 per diluted share from $5.1M or $0.22, with the gap to operating loss mainly from $11.7M interest expense and a $13.2M tax charge tied to a $14M valuation allowance on deferred tax assets. Cash from operations for the half-year edged up to $1.2M, funding $8.1M capex for negative free cash flow of $6.9M (derived), while $564M revolver debt at 7.9% left $102M availability under eased covenants. Restructuring drags on. Yet margins endure.
8-K
Q2 sales drop, costs slashed
Sleep Number reported Q2 2025 net sales of $328 million, down 19.7% year-over-year, amid aggressive cost cuts that slashed operating expenses by $48 million or 21%. Gross margin held steady at 59.1%, while adjusted EBITDA dipped 17% to $24 million; the company now targets $130 million in 2025 savings, exceeding prior goals, to stay compliant with debt covenants at 4.56x leverage. New leadership is revamping marketing and products for sequential sales gains. Turnaround underway.
8-K
CFO transition announced
Sleep Number appointed Robert Ryder as interim CFO effective July 21, 2025, succeeding Francis Lee, who stepped down but will advise through August 15. Ryder, with over 30 years in finance leadership including stints at Constellation Brands and Resideo, will oversee debt structure and cost reductions at a weekly fee of $58,750 via his firm. The company eyes a permanent hire while on track to exceed cost goals amid topline hurdles. Leadership shifts demand swift execution.
8-K
Q2 earnings call announced
Sleep Number Corporation announced its Q2 2025 earnings release for the period ended June 28, before market open on July 30, followed by a conference call at 8:30 a.m. EDT. The company will now rely solely on press releases for future earnings call details, streamlining investor communications. This shift supports efficient dissemination amid ongoing sleep wellness innovations.
8-K
Shareholders boost equity plan
Sleep Number shareholders approved an amendment to the 2020 Equity Incentive Plan on May 28, 2025, adding 500,000 shares to the reserve for employee incentives. Three directors—Linda A. Findley, Deborah L. Kilpatrick, and Hilary A. Schneider—secured three-year terms amid strong turnout of 79.78% of shares. Yet declassification and supermajority removal proposals fell short of the two-thirds threshold. Board plans resubmission in 2026 to accelerate annual elections by 2027.
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