Lulus — Third Quarter 2026 Earnings Summary

Lulus reported a 20% year-over-year decline in third-quarter 2026 net revenue to $58.6 million, driven by a 20% drop in total orders placed and higher return rates. The company posted a net loss of $4.3 million and an adjusted EBITDA loss of $1.8 million, while successfully reducing inventory by 17% and improving gross margin by 230 basis points to 44.9%. Management revised its full-year 2026 outlook downward due to the continued impact of historical assortment decisions, though it anticipates revenue decline rates to moderate in fiscal 2027. Additionally, the company expects capital expenditures for 2026 to range between $1.5 million and $2.0 million.