$LUVU
Luvu Brands, Inc.

2023 Q2 Form 10-Q Financial Statement

#000165495423007033 Filed on May 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $6.121M $6.903M $6.753M
YoY Change -0.94% 2.22% 9.25%
Cost Of Revenue $4.930M $5.134M $4.959M
YoY Change -2.34% 3.53% 11.82%
Gross Profit $1.191M $1.769M $1.794M
YoY Change 5.31% -1.39% 2.75%
Gross Profit Margin 19.46% 25.63% 26.57%
Selling, General & Admin $1.299M $1.297M $1.182M
YoY Change 7.09% 9.73% 4.69%
% of Gross Profit 109.07% 73.32% 65.89%
Research & Development $32.96K $26.59M
YoY Change -99.88% 9.72%
% of Gross Profit 1.86% 1482.22%
Depreciation & Amortization $90.00K $88.90K $74.44K
YoY Change 13.92% 19.42% 38.84%
% of Gross Profit 7.56% 5.03% 4.15%
Operating Expenses $1.389M $1.386M $1.261M
YoY Change 7.51% 9.91% 6.59%
Operating Profit -$198.0K $383.0K $533.0K
YoY Change 22.98% -28.14% -5.33%
Interest Expense -$93.00K -$90.00K -$81.00K
YoY Change 14.81% 11.11% -13.83%
% of Operating Profit -23.5% -15.2%
Other Income/Expense, Net -$90.00K -$81.00K
YoY Change 11.11% -13.83%
Pretax Income -$291.0K $293.0K $452.0K
YoY Change 20.25% -35.18% -3.62%
Income Tax -$10.00K $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings -$281.0K $293.0K $452.0K
YoY Change 16.12% -35.18% -3.62%
Net Earnings / Revenue -4.59% 4.24% 6.69%
Basic Earnings Per Share $0.00 $0.01
Diluted Earnings Per Share $0.00 $0.00 $0.01
COMMON SHARES
Basic Shares Outstanding 76.55M shares 76.51M shares 75.94M shares
Diluted Shares Outstanding 76.74M shares 76.38M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.041M $1.353M $935.0K
YoY Change 21.19% 44.71% -26.38%
Cash & Equivalents $1.041M $1.353M $935.0K
Short-Term Investments
Other Short-Term Assets $84.00K $108.0K $175.0K
YoY Change -49.09% -38.29% 92.31%
Inventory $4.202M $4.442M $3.807M
Prepaid Expenses $84.00K $108.0K $175.0K
Receivables $1.051M $1.367M $1.351M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.378M $7.270M $6.268M
YoY Change 7.23% 15.99% 15.24%
LONG-TERM ASSETS
Property, Plant & Equipment $2.186M $2.298M $2.083M
YoY Change 7.74% 10.32% -52.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $110.0K $100.0K $100.0K
YoY Change 10.0% 0.0% 17.65%
Total Long-Term Assets $4.233M $4.401M $4.566M
YoY Change -4.47% -3.61% 2.03%
TOTAL ASSETS
Total Short-Term Assets $6.378M $7.270M $6.268M
Total Long-Term Assets $4.233M $4.401M $4.566M
Total Assets $10.61M $11.67M $10.83M
YoY Change 2.24% 7.73% 9.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.114M $2.336M $2.579M
YoY Change -21.12% -9.42% -2.57%
Accrued Expenses $416.0K $828.0K $617.0K
YoY Change -23.67% 34.2% -21.3%
Deferred Revenue
YoY Change
Short-Term Debt $1.252M $1.415M $1.214M
YoY Change -3.32% 16.56%
Long-Term Debt Due $407.0K $525.0K $320.0K
YoY Change 26.01% 64.06% -85.48%
Total Short-Term Liabilities $4.585M $5.485M $5.040M
YoY Change -11.38% 8.83% -10.56%
LONG-TERM LIABILITIES
Long-Term Debt $1.148M $933.0K $1.444M
YoY Change -2.96% -35.39% 91.51%
Other Long-Term Liabilities $1.667M $1.773M $2.164M
YoY Change -19.39% -18.07% -13.61%
Total Long-Term Liabilities $2.815M $2.706M $3.608M
YoY Change -13.41% -25.0% 10.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.585M $5.485M $5.040M
Total Long-Term Liabilities $2.815M $2.706M $3.608M
Total Liabilities $7.400M $8.191M $8.648M
YoY Change -12.17% -5.28% -2.77%
SHAREHOLDERS EQUITY
Retained Earnings -$3.790M -$3.508M -$4.747M
YoY Change -24.03% -26.1%
Common Stock $765.0K $765.0K $759.0K
YoY Change 0.66% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.211M $3.480M $2.186M
YoY Change
Total Liabilities & Shareholders Equity $10.61M $11.67M $10.83M
YoY Change 2.24% 7.73% 9.28%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$281.0K $293.0K $452.0K
YoY Change 16.12% -35.18% -3.62%
Depreciation, Depletion And Amortization $90.00K $88.90K $74.44K
YoY Change 13.92% 19.42% 38.84%
Cash From Operating Activities -$245.0K -$496.0K -$181.0K
YoY Change -297.58% 174.03% -266.06%
INVESTING ACTIVITIES
Capital Expenditures $2.000K $59.00K -$4.000K
YoY Change -200.0% -1575.0% -95.18%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.000K -$59.00K -$4.000K
YoY Change 0.0% 1375.0% -95.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.00K 33.00K 39.00K
YoY Change -67.17% -15.38% -82.97%
NET CHANGE
Cash From Operating Activities -245.0K -496.0K -181.0K
Cash From Investing Activities -2.000K -59.00K -4.000K
Cash From Financing Activities -65.00K 33.00K 39.00K
Net Change In Cash -312.0K -522.0K -146.0K
YoY Change 310.53% 257.53% -157.25%
FREE CASH FLOW
Cash From Operating Activities -$245.0K -$496.0K -$181.0K
Capital Expenditures $2.000K $59.00K -$4.000K
Free Cash Flow -$247.0K -$555.0K -$177.0K
YoY Change -296.03% 213.56% -192.19%

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OperatingLeaseRightOfUseAssetAmortizationExpense
220000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
262000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
218000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
624000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
417000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-57000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
45000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-344000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-89000 usd
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
133000 usd
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-90000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
160000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
14000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-245000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-200000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
906000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
263000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
113000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50000 usd
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
200000 usd
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
200000 usd
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
200000 usd
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
200000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-71000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
103000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
152000 usd
luvu Repayment Of Unsecured Line Of Credit
RepaymentOfUnsecuredLineOfCredit
9000 usd
luvu Repayment Of Unsecured Line Of Credit
RepaymentOfUnsecuredLineOfCredit
9000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000 usd
luvu Payments On Equipment Notes
PaymentsOnEquipmentNotes
210000 usd
luvu Payments On Equipment Notes
PaymentsOnEquipmentNotes
192000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
8000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-299000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-255000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
494000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-42000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
859000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
977000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1353000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
935000 usd
luvu Purchases Of Equipment With Equipment Notes
PurchasesOfEquipmentWithEquipmentNotes
373000 usd
luvu Purchases Of Equipment With Equipment Notes
PurchasesOfEquipmentWithEquipmentNotes
326000 usd
luvu Finance Lease Asset Obligation In Exchange For Lease Payable
FinanceLeaseAssetObligationInExchangeForLeasePayable
0 usd
luvu Finance Lease Asset Obligation In Exchange For Lease Payable
FinanceLeaseAssetObligationInExchangeForLeasePayable
23000 usd
us-gaap Interest Paid Net
InterestPaidNet
261000 usd
us-gaap Interest Paid Net
InterestPaidNet
259000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 35.45pt; text-align:justify;"> The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period.  Significant estimates in these consolidated financial statements include estimates of: income taxes; deferred tax allowance; allowances for doubtful accounts; inventory valuation and allowances; share-based compensation; and useful lives for depreciation and amortization.  Actual results could differ materially from these estimates.   </p>
CY2022Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
243944 usd
CY2023Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
18272 usd
CY2023Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
1408000 usd
CY2022Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
1199000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1000 usd
CY2023Q1 luvu Allowance For Discounts And Returns
AllowanceForDiscountsAndReturns
-40000 usd
CY2022Q2 luvu Allowance For Discounts And Returns
AllowanceForDiscountsAndReturns
-6000 usd
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
1367000 usd
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
1192000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
142123 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
85000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">The Company maintains its cash accounts with banks located in Georgia.  The total cash balances are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per bank. The Company had bank balances on deposit at March 31, 2023 that exceeded the balance insured by the FDIC by $1,174,029. Accounts receivable are typically unsecured and are derived from revenue earned from customers primarily located in North America and Europe.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">During the three and nine months ended March 31, 2023, we purchased 32% and 35% respectively, of total inventory purchases from one vendor.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">During the fiscal year ended June 30, 2022, we purchased 34% of total inventory purchases from one vendor.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 0.5in; text-align:justify;">As of March 31, 2023, two of the Company’s customers represents 49% and 11% of the total accounts receivables, respectively. As of June 30, 2022, two of the Company’s customers represents 21% and 13% of the total accounts receivables, respectively. For the three and nine months ended March 31, 2023, sales to and through Amazon accounted for 34% and 36% of our net sales, respectively.</p>
CY2023Q1 us-gaap Cash
Cash
250000 usd
CY2023Q1 luvu Fdic Balance Limit Excess
FdicBalanceLimitExcess
1174029 usd
CY2022Q2 luvu Subtotal
Subtotal
6068000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4256000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3992000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2298000 usd
CY2023Q1 us-gaap Prepaid Advertising
PrepaidAdvertising
525000 usd
CY2022Q2 us-gaap Prepaid Advertising
PrepaidAdvertising
1050000 usd
CY2023Q1 us-gaap Advertising Expense
AdvertisingExpense
170616 usd
CY2022Q1 us-gaap Advertising Expense
AdvertisingExpense
132647 usd
us-gaap Advertising Expense
AdvertisingExpense
557114 usd
us-gaap Advertising Expense
AdvertisingExpense
419233 usd
CY2023Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
32958 usd
CY2022Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
26591 usd
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
100326 usd
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
87396 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2076000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
88902 usd
CY2022Q1 us-gaap Depreciation
Depreciation
79542 usd
us-gaap Depreciation
Depreciation
263775 usd
us-gaap Depreciation
Depreciation
227055 usd
CY2022Q2 us-gaap Mediumterm Notes Current
MediumtermNotesCurrent
0 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
15000 usd
CY2023Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
116000 usd
CY2022Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0 usd
CY2022Q2 luvu Total Current Debt
TotalCurrentDebt
1618000 usd
CY2020Q4 luvu Rental Abatement
RentalAbatement
103230000 usd
CY2020Q4 us-gaap Capital Leases Contingent Rental Payments Due
CapitalLeasesContingentRentalPaymentsDue
51615000 usd
luvu Annual Escalations In Rent
AnnualEscalationsInRent
0.03 pure
CY2020Q4 luvu Final Two Months Rent
FinalTwoMonthsRent
61605 usd
us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
0.02 pure
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
163188 usd
CY2022Q1 us-gaap Payments For Rent
PaymentsForRent
163188 usd
us-gaap Payments For Rent
PaymentsForRent
489564 usd
us-gaap Payments For Rent
PaymentsForRent
489564 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5700000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5650000 shares
CY2023Q1 us-gaap Mediumterm Notes Current
MediumtermNotesCurrent
0 usd
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
2213000 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
1893000 usd
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
650000 usd
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
440000 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1755000 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1660000 usd
CY2023Q1 us-gaap Inventory Gross
InventoryGross
4618000 usd
CY2022Q2 us-gaap Inventory Gross
InventoryGross
3993000 usd
CY2023Q1 luvu Allowance For Slow Moving Inventory
AllowanceForSlowMovingInventory
-176000 usd
CY2022Q2 luvu Allowance For Slow Moving Inventory
AllowanceForSlowMovingInventory
-176000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
4442000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
3817000 usd
CY2023Q1 luvu Subtotal
Subtotal
6554000 usd
CY2023Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
476000 usd
CY2022Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
344000 usd
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
352000 usd
CY2022Q2 us-gaap Interest Payable Current
InterestPayableCurrent
286000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
828000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
630000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
142123 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
85000 usd
CY2023Q1 us-gaap Unsecured Debt
UnsecuredDebt
16000 usd
CY2022Q2 us-gaap Unsecured Debt
UnsecuredDebt
25000 usd
CY2023Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
999000 usd
CY2022Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1070000 usd
CY2023Q1 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
400000 usd
CY2022Q2 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
200000 usd
CY2023Q1 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
394000 usd
CY2022Q2 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
308000 usd
CY2022Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
200000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
13000 usd
CY2023Q1 us-gaap Other Notes Payable
OtherNotesPayable
920000 usd
CY2022Q2 us-gaap Other Notes Payable
OtherNotesPayable
842000 usd
CY2023Q1 luvu Notes Payable Related Party Note9
NotesPayableRelatedPartyNote9
0 usd
CY2022Q2 luvu Notes Payable Related Party Note9
NotesPayableRelatedPartyNote9
116000 usd
CY2023Q1 luvu Total Long Term Debt
TotalLongTermDebt
933000 usd
CY2022Q2 luvu Total Long Term Debt
TotalLongTermDebt
1183000 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
400000 usd
CY2022Q2 us-gaap Notes Payable Current
NotesPayableCurrent
200000 usd
CY2023Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
0 usd
CY2022Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
200000 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
0 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
400000 usd
CY2023Q1 luvu Notes Payable Related Parties Noncurrent09
NotesPayableRelatedPartiesNoncurrent09
116000 usd
CY2022Q2 luvu Notes Payable Related Parties Noncurrent09
NotesPayableRelatedPartiesNoncurrent09
116000 usd
CY2023Q1 luvu Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
116000 usd
CY2022Q2 luvu Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
0 usd
CY2023Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
0 usd
CY2022Q2 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
116 usd
CY2011Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1200000 usd
us-gaap Line Of Credit Facility Collateral
LineOfCreditFacilityCollateral
85% of eligible accounts receivable (as defined in the agreement) for the purpose of improving working capital
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
1.25 pure
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.02 pure
us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
55500 usd
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.1225 pure
CY2023Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
15909 usd
CY2022Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
24879 usd
luvu Operating Leases Expire
OperatingLeasesExpire
February 28, 2027
luvu Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P5Y
luvu Weighted Average Discount Rate
WeightedAverageDiscountRate
0.1449 pure
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2003000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
381000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1773000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2154000 usd
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
312500 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.05
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
165000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
680000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
721000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
762000 usd
CY2023Q1 luvu Lessee Operating Lease Liability Payments Due After Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFour
528000 usd
CY2023Q1 luvu Total Undiscounted Lease Payments
TotalUndiscountedLeasePayments
2856000 usd
CY2023Q1 luvu Less Present Value Discount
LessPresentValueDiscount
-702000 usd
CY2023Q1 luvu Total Lease Liability Balance
TotalLeaseLiabilityBalance
2154000 usd
CY2023Q1 luvu Equipment Notes Payable
EquipmentNotesPayable
2512783 usd
CY2023Q1 luvu Contractual Obligation Due In Second Year4
ContractualObligationDueInSecondYear4
122000 usd
CY2023Q1 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
473000 usd
CY2023Q1 luvu Contractual Obligation Due In Fourth Year5
ContractualObligationDueInFourthYear5
427000 usd
CY2023Q1 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
309000 usd
CY2023Q1 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
130000 usd
CY2023Q1 luvu Contractual Obligation Duesixth Year
ContractualObligationDuesixthYear
39 usd
CY2023Q1 luvu Future Minimum Lease Payments
FutureMinimumLeasePayments
1500000 usd
CY2023Q1 luvu Amount Representing Interest
AmountRepresentingInterest
-187000 usd
CY2023Q1 luvu Contractual Obligation8
ContractualObligation8
1313000 usd
CY2023Q1 luvu Other Note Payable Current
OtherNotePayableCurrent
-393000 usd
CY2023Q1 us-gaap Other Notes Payable
OtherNotesPayable
920000 usd
CY2023Q1 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
4000 usd
CY2023Q1 luvu Contractual Obligation Due In Third Year2
ContractualObligationDueInThirdYear2
16000 usd
CY2023Q1 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
6000 usd
CY2023Q1 luvu Contractual Obligation Due In Fifth Year6
ContractualObligationDueInFifthYear6
3000 usd
CY2023Q1 luvu Future Minimum Finance Lease Payable Payments
FutureMinimumFinanceLeasePayablePayments
30000 usd
CY2023Q1 luvu Amount Representing Interest7
AmountRepresentingInterest7
-2000 usd
CY2023Q1 us-gaap Contractual Obligation
ContractualObligation
28000 usd
CY2023Q1 luvu Other Note Payable Current3
OtherNotePayableCurrent3
-15000 usd
CY2023Q1 luvu Other Notes Payable1
OtherNotesPayable1
13000 usd
CY2023Q1 luvu Annual Base Salary
AnnualBaseSalary
155000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1450000 shares
CY2023Q1 luvu Number Of Shares Available For Issuance Under Plan
NumberOfSharesAvailableForIssuanceUnderPlan
362500 shares
luvu Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberbegining Balance
SharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberbeginingBalance
1975000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y
luvu Weighted Average Exercise Price Outstanding Begining Balance
WeightedAverageExercisePriceOutstandingBeginingBalance
0.10
luvu Aggregate Intrinsic Vale Options Outstanding Beginning Balance
AggregateIntrinsicValeOptionsOutstandingBeginningBalance
107500 usd
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
525000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
50000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.03
luvu Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumber Ending Balance
SharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberEndingBalance
1400000 shares
luvu Weighted Average Remaining Contractual Life Ending
WeightedAverageRemainingContractualLifeEnding
P3Y3M18D
luvu Weighted Average Exercise Price Outstanding Ending Balance
WeightedAverageExercisePriceOutstandingEndingBalance
0.14
luvu Aggregate Intrinsic Vale Options Outstanding Ending Balance
AggregateIntrinsicValeOptionsOutstandingEndingBalance
63000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
312500 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y8M12D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.05
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
39250 usd
CY2023Q1 us-gaap Share Price
SharePrice
0.17
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
525000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1050000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
50000 shares
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1400000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y6M
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
0.14
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
12000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
34000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
14000 usd
CY2023Q1 luvu Unrecognized Stock Expense
UnrecognizedStockExpense
128937 usd
luvu Weighted Average Vesting Period Term
WeightedAverageVestingPeriodTerm
P2Y10M24D
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
luvu Schedule Of Common Stock Equivalents
ScheduleOfCommonStockEquivalents
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;margin-left:auto;margin-right:auto;width:85%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>March 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2023</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Shares of common stock reserved for issuance under the 2015 Plan</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,400,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Shares of common stock issuable upon conversion of the Preferred Stock</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">4,300,000</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:15px">Total Shares of common stock equivalents</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">5,700,000</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2023Q1 luvu Shares Of Common Stock Reserved For Issuance Under The2015 Stock Option Plan
SharesOfCommonStockReservedForIssuanceUnderThe2015StockOptionPlan
1400000 shares
CY2023Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
4300000 shares
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5700000 shares

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