Lulu's Fashion Lounge Holdings, Inc. (LVLU) Balance Sheet
LVLU balance sheet, 2025
December 31, 2025 · U.S. dollars$89.4M assets = $86.3M liabilities + $3.0M equity
Both columns are drawn to the same scale: what LVLU owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LVLU financial health
Descriptive bands, not a rating. Fiscal 2025.
LVLU balance sheet trends, 2017–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $92.5M2017 | $89.4M2025 | −0.4%/yr | |
| Total liabilities | $144.2M2017 | $86.3M2025 | −6.2%/yr | |
| Shareholders’ equity | −$51.7M2017 | $3.0M2025 | — | |
| Cash & short-term investments | $5.6M2017 | $2.7M2025 | −9.0%/yr | |
| Total debt | $124.1M2017 | $31.2M2025 | −15.9%/yr | |
| Net cash (debt) | −$118.4M2017 | −$28.5M2025 | +$89.9M | |
| Working capital | $4.6M2017 | −$31.4M2025 | −$36.1M | |
| Book value per share | −$37.682017 | $1.082025 | — | |
| Current ratio | 1.162017 | 0.582025 | −0.58 | |
| Debt / equity | 0.562021 | 10.352025 | +9.78 | |
| Shares outstanding | 1.4M2017 | 2.8M2025 | +9.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LVLU assets
LVLU liabilities and equity
LVLU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LVLU balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $2.7M | $4.5M | $2.5M | $10.2M | $11.4M | $15.6M | $5.9M | $7.7M | $5.6M |
| Cash & equivalents | $2.7M | $4.5M | $2.5M | $10.2M | $11.4M | $15.6M | $5.9M | $7.7M | $5.6M |
| Receivables | $2.7M | $6.3M | $6.1M | $8.0M | $6.4M | $6.6M | $6.4M | $2.3M | $1.4M |
| Inventory | $32.4M | $34.0M | $35.5M | $43.2M | $22.2M | $18.0M | $29.4M | $24.3M | $19.0M |
| Other current assets | $5.8M | $6.7M | $8.5M | $7.6M | $9.1M | $2.7M | $5.2M | $8.0M | $7.1M |
| Total current assets | $43.6M | $51.5M | $52.5M | $69.0M | $49.1M | $42.8M | $46.8M | $42.3M | $33.1M |
| Property, plant & equipment (net) | $16.8M | $27.7M | $34.2M | $36.9M | $3.2M | $3.1M | $4.1M | $3.1M | $2.6M |
| Goodwill & intangible assets | $9.7M | $28.3M | $57.2M | $57.0M | $56.2M | $56.2M | $56.6M | $56.4M | $56.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $19.1M | $698,000 | $5.5M | $4.3M | $5.3M | $3.0M | $3.0M | $1.8M | $802,000 |
| Total assets | $89.4M | $108.2M | $149.4M | $167.2M | $113.8M | $105.1M | $110.5M | $103.7M | $92.5M |
| Liabilities | |||||||||
| Accounts payable | $8.3M | $11.0M | $8.9M | $5.3M | $4.2M | $7.2M | $11.0M | $5.6M | $7.2M |
| Short-term debt | $20.8M | $19.7M | $13.6M | $4.5M | $27.1M | $18.7M | $14.1M | $10.1M | $10.1M |
| Deferred revenue | $18.2M | $17.9M | $13.1M | $10.8M | $7.2M | $5.0M | $4.6M | — | — |
| Total current liabilities | $75.1M | $74.3M | $61.9M | $47.6M | $43.1M | $41.3M | $51.2M | $36.6M | $28.5M |
| Long-term debt | $0 | $0 | $0 | $25.0M | $25.0M | $96.9M | $96.7M | $0 | $0 |
| Lease obligations | $16.8M | $26.3M | $31.1M | $33.5M | $0 | — | — | — | — |
| Other long-term liabilities | $11.3M | $20.5M | $26.6M | $29.7M | $1.1M | $2.5M | $4.0M | $109.9M | $115.7M |
| Total liabilities | $86.3M | $94.8M | $88.5M | $102.3M | $69.3M | $140.6M | $151.8M | $146.5M | $144.2M |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $43,000 | $42,000 | $41,000 | $39,000 | $38,000 | $18,000 | $18,000 | $18,000 | $21,000 |
| Retained earnings (deficit) | −$262.2M | −$248.5M | −$193.2M | −$173.9M | −$177.6M | −$179.6M | −$160.3M | −$159.9M | −$51.7M |
| Accumulated other comprehensive income | — | — | — | $0 | −$113.8M | $0 | — | — | — |
| Total shareholders' equity | $3.0M | $13.4M | $61.0M | $64.9M | $44.5M | −$35.6M | −$41.2M | −$42.8M | −$51.7M |
| Key figures | |||||||||
| Total debt | $31.2M | $39.4M | $39.1M | $58.5M | $25.0M | $115.6M | $110.8M | $118.3M | $124.1M |
| Net cash (debt) | −$28.5M | −$34.9M | −$36.6M | −$48.3M | −$13.6M | −$100.0M | −$104.9M | −$110.6M | −$118.4M |
| Working capital | −$31.4M | −$22.8M | −$9.4M | $21.4M | $5.9M | $1.5M | −$4.3M | $5.7M | $4.6M |
| Tangible book value | −$6.7M | −$15.0M | $3.8M | $7.9M | −$11.7M | −$91.8M | −$97.9M | −$99.2M | −$107.7M |
| Book value per share | $1.08 | $4.84 | $22.93 | $25.05 | $17.38 | −$13.57 | −$15.74 | −$35.04 | −$37.68 |
| Shares outstanding | 2.8M | 2.8M | 2.7M | 2.6M | 2.6M | 2.6M | 2.6M | 1.2M | 1.4M |
| Current ratio | 0.58 | 0.69 | 0.85 | 1.45 | 1.14 | 1.04 | 0.92 | 1.16 | 1.16 |
| Quick ratio | 0.07 | 0.15 | 0.14 | 0.38 | 0.41 | 0.54 | 0.24 | 0.27 | 0.25 |
| Debt / equity | 10.35 | 2.94 | 0.64 | 0.90 | 0.56 | — | — | — | — |
| Equity / assets | 3.4% | 12.4% | 40.8% | 38.8% | 39.1% | −33.8% | −37.3% | −41.3% | −55.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $4.1M | $7.4M | $2.7M | $1.9M | $1.5M | $8.6M | $4.5M | $6.3M | $1.8M | $5.5M | $2.5M | $12.9M |
| Cash & equivalents | $4.1M | $7.4M | $2.7M | $1.9M | $1.5M | $8.6M | $4.5M | $6.3M | $1.8M | $5.5M | $2.5M | $12.9M |
| Receivables | $3.0M | $6.5M | $2.7M | $5.9M | $4.5M | $5.3M | $6.3M | $7.0M | $6.3M | $8.1M | $6.1M | $6.3M |
| Inventory | $28.6M | $33.1M | $32.4M | $38.4M | $37.3M | $39.7M | $34.0M | $38.5M | $37.7M | $41.3M | $35.5M | $47.2M |
| Other current assets | $7.3M | $8.5M | $5.8M | $9.5M | $8.2M | $9.2M | $6.7M | $13.5M | $9.4M | $10.4M | $8.5M | $3.0M |
| Total current assets | $43.0M | $55.5M | $43.6M | $55.8M | $51.6M | $62.7M | $51.5M | $65.3M | $55.2M | $65.2M | $52.5M | $69.5M |
| Property, plant & equipment (net) | $15.0M | $16.2M | $16.8M | $18.6M | $20.5M | $22.6M | $27.7M | $29.9M | $31.6M | $32.9M | $34.2M | $35.3M |
| Goodwill & intangible assets | $9.5M | $9.7M | $28.2M | $28.3M | $28.2M | $28.3M | $28.3M | $56.8M | $56.9M | $57.1M | $57.2M | $57.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $19.1M | $19.1M | $639,000 | $644,000 | $652,000 | $691,000 | $698,000 | $1.5M | $1.6M | $5.5M | $21.8M | $5.4M |
| Total assets | $86.7M | $100.5M | $89.4M | $103.3M | $101.0M | $114.3M | $108.2M | $153.5M | $145.3M | $160.6M | $165.8M | $167.4M |
| Liabilities | ||||||||||||
| Accounts payable | $17.4M | $7.8M | $8.3M | $18.3M | $6.4M | $10.3M | $11.0M | $11.4M | $11.9M | $8.3M | $8.9M | $8.9M |
| Short-term debt | $17.3M | $20.3M | $20.8M | $15.6M | $12.2M | $16.5M | $19.7M | $17.3M | $5.7M | $11.5M | $13.6M | $5.4M |
| Deferred revenue | — | $18.1M | $18.2M | $20.2M | $19.9M | $19.0M | $17.9M | $16.0M | $15.1M | $13.2M | $13.1M | $12.7M |
| Total current liabilities | $79.0M | $90.8M | $75.1M | $88.2M | $82.7M | $91.8M | $74.3M | $86.6M | $72.0M | $79.0M | $61.9M | $63.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11.0M |
| Lease obligations | $15.4M | $16.2M | $16.8M | $18.1M | $19.5M | $21.6M | $26.3M | $26.8M | $28.1M | $29.4M | $29.4M | $31.1M |
| Other long-term liabilities | $9.1M | $10.3M | $11.3M | $12.7M | $14.0M | $16.0M | $20.5M | $23.1M | $24.6M | $23.9M | $42.9M | $27.7M |
| Total liabilities | $88.2M | $101.0M | $86.3M | $100.8M | $96.7M | $107.8M | $94.8M | $109.8M | $96.5M | $102.9M | $104.8M | $102.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $43,000 | $42,000 | $42,000 | $42,000 | $41,000 | $41,000 | $40,000 |
| Retained earnings (deficit) | −$267.8M | −$266.3M | −$262.2M | −$261.8M | −$259.5M | −$256.5M | −$248.5M | −$216.6M | −$209.7M | −$198.9M | −$193.2M | −$186.0M |
| Accumulated other comprehensive income | — | — | — | — | $0 | — | — | — | $0 | — | — | — |
| Total shareholders' equity | −$1.5M | −$525,000 | $3.0M | $2.5M | $4.3M | $6.6M | $13.4M | $43.8M | $48.7M | $57.7M | $61.0M | $64.7M |
| Key figures | ||||||||||||
| Total debt | $25.4M | $29.5M | $31.2M | $27.3M | $25.2M | $31.7M | $39.4M | $38.3M | $28.1M | $35.4M | $39.1M | $43.2M |
| Net cash (debt) | −$21.3M | −$22.1M | −$28.5M | −$25.4M | −$23.7M | −$23.1M | −$34.9M | −$32.0M | −$26.3M | −$29.9M | −$36.6M | −$30.3M |
| Working capital | −$36.0M | −$35.2M | −$31.4M | −$32.4M | −$31.1M | −$29.0M | −$22.8M | −$21.3M | −$16.8M | −$13.8M | −$9.4M | $5.6M |
| Tangible book value | −$11.0M | −$10.2M | −$25.2M | −$25.8M | −$24.0M | −$21.7M | −$15.0M | −$13.0M | −$8.2M | $660,000 | $3.8M | $7.5M |
| Book value per share | −$0.52 | −$0.18 | $1.07 | $0.91 | $1.53 | $2.35 | $4.80 | $15.74 | $17.67 | $21.96 | $22.60 | $24.21 |
| Shares outstanding | 2.9M | 2.8M | 2.8M | 2.8M | 2.8M | 2.8M | 2.8M | 2.8M | 2.8M | 2.6M | 2.7M | 2.7M |
| Current ratio | 0.54 | 0.61 | 0.58 | 0.63 | 0.62 | 0.68 | 0.69 | 0.75 | 0.77 | 0.83 | 0.85 | 1.09 |
| Quick ratio | 0.09 | 0.15 | 0.07 | 0.09 | 0.07 | 0.15 | 0.15 | 0.15 | 0.11 | 0.17 | 0.14 | 0.30 |
| Debt / equity | — | — | 10.35 | 10.85 | 5.93 | 4.84 | 2.94 | 0.88 | 0.58 | 0.61 | 0.64 | 0.67 |
| Equity / assets | −1.7% | −0.5% | 3.4% | 2.4% | 4.2% | 5.7% | 12.4% | 28.5% | 33.5% | 35.9% | 36.8% | 38.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 30, 2026); data from EODHD.
LVLU financial position
At the end of fiscal 2025 (December 31, 2025), Lulu's Fashion Lounge had total assets of $89.4 million (down 17.4% from a year earlier), total liabilities of $86.3 million and shareholders' equity of $3.0 million. It held $2.7 million in cash and short-term investments against $31.2 million of debt, net debt of $28.5 million. Its current ratio was 0.58. In the latest quarter (ended June 30, 2026) total assets were $86.7 million and equity -$1.5 million.
Related: LVLU income statement, LVLU cash flow statement, LVLU key metrics. See the LVLU stock overview for the latest quote and news.
LVLU balance sheet FAQ
What are Lulu's Fashion Lounge's total assets?
Lulu's Fashion Lounge reported total assets of $89.4 million at the end of fiscal 2025 (December 31, 2025), compared with $108.2 million a year earlier.
How much debt does Lulu's Fashion Lounge have?
Lulu's Fashion Lounge had $31.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 10.35.
How much cash does Lulu's Fashion Lounge have?
Lulu's Fashion Lounge held $2.7 million in cash and short-term investments at the end of fiscal 2025; with $31.2 million of debt that is net debt of $28.5 million.
What is Lulu's Fashion Lounge's book value?
Lulu's Fashion Lounge's shareholders' equity (book value) was $3.0 million at the end of fiscal 2025, or $1.08 per share.
What is Lulu's Fashion Lounge's current ratio?
Lulu's Fashion Lounge had current assets of $43.6 million and current liabilities of $75.1 million, a current ratio of 0.58 (current liabilities exceed current assets).
How much goodwill does Lulu's Fashion Lounge have?
Lulu's Fashion Lounge carried $9.7 million of goodwill and intangible assets, 10.9% of total assets, at the end of fiscal 2025.