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Lulu's Fashion Lounge Holdings (LVLU) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Lulu's Fashion Lounge Holdings (LVLU) Q2 2026 earnings results →

Q2 2026 Revenue down 17% year over year to $67.8M · 2¢ of every $1 of revenue lost · operating margin -1.8%

Lulu's Fashion Lounge Holdings made $67.8M in Q2 2026 (-17% Y/Y). Operating margin -1.8%, net loss $1.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.

Revenue$67.8M
Year over year-17%
Operating margin-1.8%
Net earnings−$1.5M
Operating cash flow$586K

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $67.8M in Q2 2026, down 17% year over year and up 18% from the previous quarter.

Gross margin was 48.6%, up 3.3 points from Q2 2025. Operating costs exceeded revenue by $1.2M, an operating margin of -1.8%. Operating expenses fell 14% while revenue fell 17%. The quarter ended with a net loss of $1.5M, narrower than the previous quarter's $4.1M loss.

Operating cash flow was $586K. Non-cash charges added back $1.0M of depreciation and amortization and $628K of share-based compensation. Working capital and other items added $429K. After capitalized software development costs ($357K) and purchases of property and equipment ($86K), free cash flow as the company reports it was $143K.

Quarterly history

Lulu's Fashion Lounge Holdings revenue by quarterLulu's Fashion Lounge Holdings revenue by quarter$66.1MQ4 2024$64.2MQ1 2025$81.5MQ2 2025$73.6MQ3 2025$63.0MQ4 2025$57.5MQ1 2026$67.8MQ2 2026
Lulu's Fashion Lounge Holdings net earnings by quarterLulu's Fashion Lounge Holdings net earnings by quarter−$31.9MQ4 2024−$8.0MQ1 2025−$3.0MQ2 2025−$2.3MQ3 2025−$403KQ4 2025−$4.1MQ1 2026−$1.5MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 12, 2026$67.8M-17%-1.8%−$1.5M$586K
Q1 202610-QMay 13, 2026$57.5M-10%-6.2%−$4.1M$6.9M
Q4 202510-KMar 30, 2026$63.0M-5%0.1%−$403K−$3.8M
Q3 202510-QNov 12, 2025$73.6M-9%-2.6%−$2.3M−$1.8M
Q2 202510-QAug 13, 2025$81.5M-11%-3.2%−$3.0M−$1.4M
Q1 202510-QMay 14, 2025$64.2M-17%-12.7%−$8.0M$8.3M
Q4 202410-KMar 27, 2025$66.1M-12%-52.8%−$31.9M−$2.5M

Charts

Lulu's Fashion Lounge Holdings: revenue growth, year over year and quarter over quarterLulu's Fashion Lounge Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q-12%Q4 2024-17%-3%Q1 2025-11%+27%Q2 2025-9%-10%Q3 2025-5%-14%Q4 2025-10%-9%Q1 2026-17%+18%Q2 2026
Latest (Q2 2026): Y/Y -17%, Q/Q +18%.
Lulu's Fashion Lounge Holdings: where the cash came from (+) and went (−), TTM to Q2 2026Lulu's Fashion Lounge Holdings: where the cash came from (+) and went (−), TTM to Q2 2026Other financing$4.2MCash drawn (+) / kept (−)−$2.6MOperating cash flow$1.9MOther investing−$1.7MNet borrowing (+) / repaid (−)−$1.2MTaxes on employees’ shares−$339KCapital spending−$206K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Lulu's Fashion Lounge Holdings: profit against cash, quarter by quarterLulu's Fashion Lounge Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow−$6.9M−$5.5MQ3 2024−$31.9M−$2.5MQ4 2024−$8.0M$8.3MQ1 2025−$3.0M−$1.4MQ2 2025−$2.3M−$1.8MQ3 2025−$403K−$3.8MQ4 2025−$4.1M$6.9MQ1 2026−$1.5M$586KQ2 2026
Latest (Q2 2026): Net income −$1.5M, Operating cash flow $586K.
Lulu's Fashion Lounge Holdings: diluted shares by fiscal year (split-adjusted)Lulu's Fashion Lounge Holdings: diluted shares by fiscal year (split-adjusted)35MFY202040MFY202139MFY20223MFY20233MFY20243MFY2025
-92.0% since FY2020: buybacks shrank the count; earlier years scaled for the 2-for-1 split before FY2022.
Lulu's Fashion Lounge Holdings in its industry: growth against margin (23 companies, SIC 5961)Lulu's Fashion Lounge Holdings in its industry: growth against margin (23 companies, SIC 5961)revenue growth, year over year →↑ operating marginmedian +8%median 1%AMZNCPNGCDWWCHWYNSITOld QVC Group, Inc.QVCGPTRNNXHGCTRVLVSFIXAKATDUPHNSTGROVHOURDIBSGIFTAMZECAHOLVLU (-17%, -2%)
Retail-Catalog & Mail-Order Houses; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Lulu's Fashion Lounge Holdings

Lulus is a women’s clothing brand offering modern, feminine styles at accessible prices for every occasion. Our goal is to make every customer feel their most confident and beautiful for the moments that matter most. Lulus primarily serves a large, diverse community of Gen Z and Millennial women, who typically meet us in their 20s and stay with us through their 30s and beyond. We use direct customer feedback and insights to refine product offerings and elevate the customer experience. Lulus’ world-class personal stylists, bridal concierge, and customer care team provide thoughtful, personalized service to shoppers around the world .

In its own words, from its 10-K, filed Mar 30, 2026.

Lulu's Fashion Lounge Holdings against its Retail-Catalog & Mail-Order Houses peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -17% against the peers' median +8%. Operating margin: -1.8% against the peers' median 2.8%.

CompanyQuarterRevenueY/YOp. margin
LVLU Lulu's Fashion Lounge HoldingsQ2 2026$67.8M-17%-1.8%
AMZN Amazon.comQ3 2026$201.9B+12%13.9%
CPNG CoupangQ3 2026$10.0B+8%-4.5%
CDW CDWQ3 2026$6.8B+18%7.2%
W WayfairQ3 2026$3.4B+10%3.1%
CHWY ChewyQ2 FY27$3.3B+7%2.8%
NSIT Insight EnterprisesQ3 2026$2.4B+22%2.8%
Old QVC GroupQ2 2026$2.0B-11%2.6%
QVCG QVC GroupQ2 2026$1.8B-11%3.5%

Source: Lulu's Fashion Lounge Holdings 10-Q on SEC EDGAR · CIK 1780201 · Retail-Catalog & Mail-Order Houses

13F: who owns LVLU and who is buying

Largest holders of LVLU (13F)Largest holders of LVLU (13F)Canada Pension Plan Investment Bo…$4.0MInstitutional Venture Management …$2.1MInstitutional Venture Management …$1.2MChico Wealth RIA$1.1MVanguard Capital Management LLC$423KSweeney & Michel, LLC$400KVanguard Group$299KRenaissance Technologies LLC$155KGeode Capital Management, LLC$93KVanguard Fiduciary Trust$90K
Funds' net buying of LVLU by quarter (13F)Funds' net buying of LVLU by quarter (13F)$32025-06$5.7M2025-09$409K2025-12−$254K2026-03−$184K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LVLU

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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