SNBR
Sleep Number Corporation8.50
+0.32+3.91%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A adds execution details, no surprises
Q&A offered granular color on Sleep Number's turnaround without contradictions to prepared remarks. Management detailed the $50 million incremental fixed-cost savings—targeting logistics, delivery, and corporate overhead—already in execution. Comfort Mode's gross margin beats predecessors by 10 points, with floors fully set by mid-April ahead of Memorial Day. Marketing spend stays flat year-over-year but shifts to Q2-Q4 for product ramp. Analysts probed clearance impacts; execs confirmed expected Q1 margin pressure from discounting. Q&A reaffirms cautious optimism. Liquidity fix remains priority.
Key Stats
Market Cap
193.72MP/E (TTM)
-Basic EPS (TTM)
-3.42Dividend Yield
0%Recent Filings
8-K
Director Schneider to depart
8-K
Q4/FY2025 results released
10-K
FY2025 results
Sleep Number's FY2025 (53-week year ended January 3, 2026) delivered net sales of $1.4B, down 16% y/y amid industry demand weakness and lower traffic—yet slashed operating costs $136M y/y (ex-restructuring), boosting gross margin resilience despite inventory charges. Q4's extra week added ~$25M sales, but Total Retail comps fell 17% y/y with average store sales at $1.9M; smart bed units dropped 12% y/y while revenue per unit rose to $6,060. Cost controls drove Adjusted EBITDA to $78M (5.5% margin), but $132M net loss reflected $51M restructuring and $55M tax valuation allowance. Debt hit $588M (7.8% rate) with $58M revolver availability; free cash flow swung to -$18M. Turnaround 'Sleep Number Shifts' targets product simplification and distribution expansion—no 2026 guidance disclosed. Going concern doubt looms from covenant risks.
8-K
Baker named permanent PAO
Sleep Number appointed Kelly F. Baker as permanent Controller and Principal Accounting Officer effective March 11, 2026, after her interim role since July 2025. The 41-year-old CPA brings deep finance experience from Miromatrix Medical, Donaldson, and PwC. No related party ties disclosed. Smooth transition stabilizes accounting leadership.
8-K
Turnaround update posted
Sleep Number posted an investor presentation detailing its turnaround progress: 2025 net sales hit $1.41B with adjusted EBITDA of $78M, beating guidance amid $185M+ cost cuts. New CEO Linda Findley drives product reset launching March 23, modernized marketing, and distribution expansion. Additional $50M cost actions target free cash flow return in 2026. Liquidity plan underway with Guggenheim.
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