$LUVU
Luvu Brands, Inc.

2023 Q4 Form 10-K Financial Statement

#000165495423012955 Filed on October 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q2 2023
Revenue $6.786M $6.121M $29.22M
YoY Change -16.58% -0.94% 10.92%
Cost Of Revenue $4.968M $4.930M $22.03M
YoY Change -15.45% -2.34% 8.28%
Gross Profit $1.818M $1.191M $7.192M
YoY Change -19.52% 5.31% 19.85%
Gross Profit Margin 26.79% 19.46% 24.61%
Selling, General & Admin $1.561M $1.299M $5.294M
YoY Change 12.46% 7.09% 11.48%
% of Gross Profit 85.86% 109.07% 73.61%
Research & Development $134.6K
YoY Change 14.99%
% of Gross Profit 1.87%
Depreciation & Amortization $104.0K $90.00K $353.8K
YoY Change 18.16% 13.92% 15.63%
% of Gross Profit 5.72% 7.56% 4.92%
Operating Expenses $1.664M $1.389M $5.648M
YoY Change 12.74% 7.51% 11.73%
Operating Profit $154.0K -$198.0K $1.544M
YoY Change -80.33% 22.98% 63.21%
Interest Expense -$94.00K -$93.00K $306.0K
YoY Change 6.82% 14.81% -189.47%
% of Operating Profit -61.04% 19.82%
Other Income/Expense, Net -$94.00K -$355.0K
YoY Change 6.82% 3.8%
Pretax Income $60.00K -$291.0K $1.189M
YoY Change -91.37% 20.25% 96.85%
Income Tax -$31.00K -$10.00K $10.00K
% Of Pretax Income -51.67% 0.84%
Net Earnings $29.00K -$281.0K $1.199M
YoY Change -95.83% 16.12% 98.51%
Net Earnings / Revenue 0.43% -4.59% 4.1%
Basic Earnings Per Share $0.00 $0.02
Diluted Earnings Per Share $0.00 $0.00 $0.02
COMMON SHARES
Basic Shares Outstanding 76.55M shares 76.55M shares 76.33B shares
Diluted Shares Outstanding 77.10B shares 76.49B shares

Balance Sheet

Concept 2023 Q4 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.213M $1.041M $1.041M
YoY Change -35.31% 21.19% 21.19%
Cash & Equivalents $1.213M $1.041M $1.041M
Short-Term Investments
Other Short-Term Assets $113.0K $84.00K $84.00K
YoY Change -35.43% -49.09% -49.09%
Inventory $3.494M $4.202M $4.202M
Prepaid Expenses $113.0K $84.00K
Receivables $1.277M $1.051M $1.051M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.097M $6.378M $6.378M
YoY Change -13.32% 7.23% 7.23%
LONG-TERM ASSETS
Property, Plant & Equipment $2.029M $2.186M $4.123M
YoY Change 3.36% 7.74% -4.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $106.0K $110.0K $110.0K
YoY Change 7.07% 10.0% 10.0%
Total Long-Term Assets $3.875M $4.233M $4.233M
YoY Change -7.39% -4.47% -4.47%
TOTAL ASSETS
Total Short-Term Assets $6.097M $6.378M $6.378M
Total Long-Term Assets $3.875M $4.233M $4.233M
Total Assets $9.972M $10.61M $10.61M
YoY Change -11.11% 2.24% 2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.858M $2.114M $2.114M
YoY Change -29.06% -21.12% -21.12%
Accrued Expenses $479.0K $416.0K $812.0K
YoY Change -29.04% -23.67% -7.31%
Deferred Revenue
YoY Change
Short-Term Debt $1.096M $1.252M $1.252M
YoY Change -17.22% -3.32% -3.32%
Long-Term Debt Due $394.0K $407.0K $407.0K
YoY Change -13.6% 26.01% 26.01%
Total Short-Term Liabilities $4.254M $4.585M $4.585M
YoY Change -21.83% -11.38% -11.38%
LONG-TERM LIABILITIES
Long-Term Debt $1.157M $1.148M $1.148M
YoY Change 59.15% -2.96% -2.96%
Other Long-Term Liabilities $1.444M $1.667M $1.667M
YoY Change -22.95% -19.39% -19.39%
Total Long-Term Liabilities $2.601M $2.815M $2.815M
YoY Change 0.0% -13.41% -13.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.254M $4.585M $4.585M
Total Long-Term Liabilities $2.601M $2.815M $2.815M
Total Liabilities $6.855M $7.400M $7.400M
YoY Change -14.77% -12.17% -12.17%
SHAREHOLDERS EQUITY
Retained Earnings -$3.887M -$3.790M
YoY Change 2.26% -24.03%
Common Stock $0.00 $765.0K
YoY Change -100.0% 0.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.117M $3.211M $3.211M
YoY Change
Total Liabilities & Shareholders Equity $9.972M $10.61M $10.61M
YoY Change -11.11% 2.24% 2.24%

Cashflow Statement

Concept 2023 Q4 2023 Q2 2023
OPERATING ACTIVITIES
Net Income $29.00K -$281.0K $1.199M
YoY Change -95.83% 16.12% 98.51%
Depreciation, Depletion And Amortization $104.0K $90.00K $353.8K
YoY Change 18.16% 13.92% 15.63%
Cash From Operating Activities $198.0K -$245.0K $661.0K
YoY Change -74.78% -297.58% 70.8%
INVESTING ACTIVITIES
Capital Expenditures $7.000K $2.000K $115.0K
YoY Change -78.79% -200.0% -321.15%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.000K -$2.000K -$115.0K
YoY Change -78.79% 0.0% 121.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -116.0K -65.00K -$364.0K
YoY Change -48.44% -67.17% -19.65%
NET CHANGE
Cash From Operating Activities 198.0K -245.0K $661.0K
Cash From Investing Activities -7.000K -2.000K -$115.0K
Cash From Financing Activities -116.0K -65.00K -$364.0K
Net Change In Cash 75.00K -312.0K $182.0K
YoY Change -85.77% 310.53% -254.24%
FREE CASH FLOW
Cash From Operating Activities $198.0K -$245.0K $661.0K
Capital Expenditures $7.000K $2.000K $115.0K
Free Cash Flow $191.0K -$247.0K $546.0K
YoY Change -74.6% -296.03% 24.37%

Facts In Submission

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FinanceLeasePrincipalPayments
15000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-364000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-453000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
182000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-118000 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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1041000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
859000 usd
CY2023 us-gaap Notes Issued1
NotesIssued1
414000 usd
CY2022 us-gaap Notes Issued1
NotesIssued1
346000 usd
CY2022 luvu Finance Lease Asset Obligation In Exchange For Lease Payable
FinanceLeaseAssetObligationInExchangeForLeasePayable
2000 usd
CY2023 luvu Finance Lease Asset Obligation In Exchange For Lease Payables
FinanceLeaseAssetObligationInExchangeForLeasePayables
0 usd
CY2022 luvu Finance Lease Asset Obligation In Exchange For Lease Payables
FinanceLeaseAssetObligationInExchangeForLeasePayables
23000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
350000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
338000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>NOTE 1. ORGANIZATION AND NATURE OF BUSINESS</strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in"> Luvu Brands, Inc. (the “Company” or Luvu) was incorporated in the State of Florida on February 25, 1999. References to the “Company” in these notes include the Company and its wholly owned subsidiaries, OneUp Innovations, Inc. (“OneUp”), and Foam Labs, Inc. (“Foam Labs”). All operations of the Company are currently conducted by OneUp Innovations, Inc.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">The Company is an Atlanta, Georgia based designer, manufacturer and marketer of a portfolio of consumer lifestyle brands including: Liberator<sup style="vertical-align:super">®</sup>, a brand category of iconic products for enhancing sexual performance; Avana<sup style="vertical-align:super">®</sup> inclined bed therapy products, assistive in relieving medical conditions associated with acid reflux, surgery recovery and chronic pain; and Jaxx<sup style="vertical-align:super">®</sup>, a diverse range of casual fashion daybeds, sofas and beanbags made from polyurethane foam and repurposed polyurethane foam trim. These products are sold through the Company’s websites, online mass merchants and retail stores worldwide. Many of our products are offered flat-packed and either roll or vacuum compressed to save on shipping and reduce our carbon footprint. </p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">Sales are generated through internet and print advertisements.  We have a diversified customer base with only one customer accounting for 10% or more of consolidated net sales in the current and prior fiscal year and no particular concentration of credit risk in one economic sector.  Foreign operations and foreign net sales are not material. </p>
CY2023Q2 luvu Consolidated Sales Percentage
ConsolidatedSalesPercentage
0.10 pure
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:35.45pt">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States 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; tax valuation reserves; allowances for doubtful accounts; inventory valuation and reserves, share-based compensation; and useful lives for depreciation and amortization.  Actual results could differ materially from these estimates. </p>
CY2023 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">Deferred revenues are recorded when the Company has received consideration (i.e. advance payment) before satisfying its performance obligations. Deferred revenues primarily relate to gift cards purchased, but not used, prior to the end of the fiscal period.  Our total deferred revenue as of June 30, 2023 and June 30, 2022 was $18,654 and $18,118, respectively, and was included in “Other accrued liabilities” on our consolidated balance sheets. </p>
CY2023Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
18654 usd
CY2022Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
18118 usd
CY2023Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
1107000 usd
CY2022Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
1114000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1000 usd
CY2023Q2 luvu Allowance For Discounts And Returns
AllowanceForDiscountsAndReturns
55000 usd
CY2022Q2 luvu Allowance For Discounts And Returns
AllowanceForDiscountsAndReturns
6000 usd
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
1051000 usd
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
1107000 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
353840 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
305643 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">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 cash balances on deposit at June 30, 2023 and 2022 that exceeded the balance insured by the FDIC by $880,083 and $717,316, respectively. 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"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">During 2023, we purchased 33% of total inventory purchases from one vendor.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">During 2022, we purchased 34% of total inventory purchases from one vendor.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">As of June 30, 2023, two of the Company’s customers represent 35% and 12% of the total accounts receivables, respectively. As of June 30, 2022, two of the Company’s customers represent 21% and 13% of the total accounts receivable, respectively. Sales to (and through) Amazon accounted for 36% and 31% of our net sales during each of the years ended June 30, 2023 and June 30, 2022 respectively.</p>
CY2023Q2 us-gaap Cash
Cash
250000 usd
CY2023Q2 luvu Fdic Balance Limit Excess
FdicBalanceLimitExcess
880083 usd
CY2022Q2 luvu Fdic Balance Limit Excess
FdicBalanceLimitExcess
717316 usd
CY2023Q2 us-gaap Prepaid Advertising
PrepaidAdvertising
0 usd
CY2022Q2 us-gaap Prepaid Advertising
PrepaidAdvertising
1050000 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
790757 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
574146 usd
CY2023 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
134624 usd
CY2022 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
117079 usd
CY2020Q4 luvu Rental Abatement
RentalAbatement
103230 usd
CY2020Q4 us-gaap Capital Leases Contingent Rental Payments Due
CapitalLeasesContingentRentalPaymentsDue
51615 usd
CY2023 luvu Annual Escalations In Rent
AnnualEscalationsInRent
0.03 pure
CY2020Q4 luvu Final Two Months Rent
FinalTwoMonthsRent
61605 usd
CY2023 us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
0.02 pure
CY2023 us-gaap Payments For Rent
PaymentsForRent
652752 usd
CY2022 us-gaap Payments For Rent
PaymentsForRent
652752 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5700000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6275000 shares
CY2023Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
10000 usd
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
1100000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4346000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3981000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2186000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2029000 usd
CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
1926000 usd
CY2023Q2 luvu Allowance For Slow Moving Inventory
AllowanceForSlowMovingInventory
-252000 usd
CY2022Q2 luvu Allowance For Slow Moving Inventory
AllowanceForSlowMovingInventory
-176000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
4202000 usd
CY2023Q2 luvu Subtotal
Subtotal
6532000 usd
CY2022Q2 luvu Subtotal
Subtotal
6010000 usd
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
302000 usd
CY2022Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
344000 usd
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
114000 usd
CY2022Q2 us-gaap Interest Payable Current
InterestPayableCurrent
201000 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
416000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
545000 usd
CY2023Q2 luvu Total Current Debt
TotalCurrentDebt
1659000 usd
CY2022Q2 luvu Total Current Debt
TotalCurrentDebt
1618000 usd
CY2023Q2 luvu Notes Payable Related Party Note9
NotesPayableRelatedPartyNote9
116000 usd
CY2022Q2 luvu Notes Payable Related Party Note9
NotesPayableRelatedPartyNote9
116000 usd
CY2023Q2 luvu Total Long Term Debt
TotalLongTermDebt
1148000 usd
CY2022Q2 luvu Total Long Term Debt
TotalLongTermDebt
1183000 usd
CY2023Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
200000 usd
CY2022Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
200000 usd
CY2023Q2 us-gaap Notes Payable Current
NotesPayableCurrent
200000 usd
CY2022Q2 us-gaap Notes Payable Current
NotesPayableCurrent
200000 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
400000 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
400000 usd
CY2023Q2 luvu Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
0 usd
CY2022Q2 luvu Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
0 usd
CY2023Q2 luvu Equipment Notes Payable
EquipmentNotesPayable
2147504 usd
CY2023 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
CY2023 us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
1.25 pure
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.02 pure
CY2023Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.08 pure
CY2023Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
12806 usd
CY2022Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
24879 usd
CY2023 luvu Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P5Y
CY2023 luvu Weighted Average Discount Rate
WeightedAverageDiscountRate
0.1449 pure
CY2023 luvu Schedule Of Supplemental Balance Sheet Information Related To Operating Leases Liabilities Table Text B Lock
ScheduleOfSupplementalBalanceSheetInformationRelatedToOperatingLeasesLiabilitiesTableTextBLock
<table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Operating leases</strong></p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Balance Sheet Classification</strong></p></td><td></td><td colspan="3" style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>(in thousands)</strong></p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Right-of-use assets</p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:32%;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Operating lease right-of-use assets, net</p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td style="width:26%;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">1,913</p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"> </p></td><td><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:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Current lease liabilities</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Operating lease obligations</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">396</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Non-current lease liabilities</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Long-term operating lease obligations</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">1,667</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Total lease liabilities</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td style="BORDER-BOTTOM: 3px double;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">2,063</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1913000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
396000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1667000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2063000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
680000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
721000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
762000 usd
CY2023Q2 luvu Lessee Operating Lease Liability Payments Due After Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFour
528000 usd
CY2023Q2 luvu Total Undiscounted Lease Payments
TotalUndiscountedLeasePayments
2691000 usd
CY2023Q2 luvu Less Present Value Discount
LessPresentValueDiscount
-628000 usd
CY2023Q2 luvu Total Lease Liability Balance
TotalLeaseLiabilityBalance
2063000 usd
CY2023Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
473000 usd
CY2023Q2 luvu Contractual Obligation Due In Fourth Year5
ContractualObligationDueInFourthYear5
427000 usd
CY2023Q2 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
309000 usd
CY2023Q2 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
130000 usd
CY2023Q2 luvu Contractual Obligation Duesixth Year
ContractualObligationDuesixthYear
39000 usd
CY2023Q2 luvu Future Minimum Lease Payments
FutureMinimumLeasePayments
1378000 usd
CY2023Q2 luvu Amount Representing Interest
AmountRepresentingInterest
-162000 usd
CY2023Q2 luvu Contractual Obligation8
ContractualObligation8
1216000 usd
CY2023Q2 luvu Other Note Payable Current
OtherNotePayableCurrent
-392000 usd
CY2023Q2 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
824000 usd
CY2023Q2 luvu Contractual Obligation Due In Third Year2
ContractualObligationDueInThirdYear2
16000 usd
CY2023Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
6000 usd
CY2023Q2 luvu Contractual Obligation Due In Fifth Year6
ContractualObligationDueInFifthYear6
3000 usd
CY2023Q2 luvu Future Minimum Finance Lease Payable Payments
FutureMinimumFinanceLeasePayablePayments
25000 usd
CY2023Q2 luvu Amount Representing Interest7
AmountRepresentingInterest7
-1000 usd
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
24000 usd
CY2023Q2 luvu Other Note Payable Current3
OtherNotePayableCurrent3
-15000 usd
CY2023Q2 luvu Other Notes Payable1
OtherNotesPayable1
9000 usd
CY2023Q2 luvu Annual Base Salary
AnnualBaseSalary
155000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1700000 shares
CY2023Q2 luvu Number Of Shares Available For Issuance Under Plan
NumberOfSharesAvailableForIssuanceUnderPlan
300000 shares
CY2022 luvu Share Based Compensation Arrangements By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardVestingPeriod1
4
CY2023 luvu Forfeiture Rate
ForfeitureRate
0 pure
CY2022 luvu Forfeiture Rate
ForfeitureRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P4Y1M6D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1387 usd
CY2022 luvu Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberbegining Balance
SharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberbeginingBalance
2500000 shares
CY2022 luvu Weighted Average Exercise Price Outstanding Begining Balance
WeightedAverageExercisePriceOutstandingBeginingBalance
0.04
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y10M24D
CY2022 luvu Aggregate Intrinsic Vale Options Outstanding Beginning Balance
AggregateIntrinsicValeOptionsOutstandingBeginningBalance
974300 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
900000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.18
CY2022 luvu Weighted Average Remaining Contractual Life Outstanding Granted
WeightedAverageRemainingContractualLifeOutstandingGranted
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CY2022 us-gaap Income Tax Expense Benefit
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317000 usd
CY2022 luvu Valuation Allowance Deferred Tax Asset Change In Amounts
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156000 usd

Files In Submission

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luvu-20230630_pre.xml Edgar Link unprocessable
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0001654954-23-012955-index.html Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
luvu-20230630.xsd Edgar Link pending
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luvu-20230630_cal.xml Edgar Link unprocessable
luvu-20230630_lab.xml Edgar Link unprocessable
luvu-20230630_def.xml Edgar Link unprocessable
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