Earnings summaries and quarterly performance for Sleep Number.
Executive leadership at Sleep Number.
Linda Findley
Detailed
President and Chief Executive Officer
CEO
AM
Amber Minson
Detailed
Executive Vice President, Chief Marketing Officer
BR
Bob Ryder
Detailed
Interim Chief Financial Officer
CK
Chris Krusmark
Detailed
Executive Vice President, Chief Retail and People Officer
HP
Hitesh Patel
Detailed
Senior Vice President, Chief Information Officer
MB
Melissa Barra
Detailed
Executive Vice President, Chief Product and Enterprise Strategy Officer
SH
Samuel Hellfeld
Detailed
Executive Vice President, Chief Legal and Risk Officer and Secretary
TS
Tanya Skogerboe
Detailed
Senior Vice President, Chief Supply Chain and Transformation Officer
Board of directors at Sleep Number.
Research analysts who have asked questions during Sleep Number earnings calls.
PK
Peter Keith
Piper Sandler & Co.
4 questions for SNBR
Also covers: ARHS, BBY, BOOT +18 more
Bradley Thomas
KeyBanc Capital Markets Inc.
3 questions for SNBR
Also covers: CENT, ETD, FIVE +10 more
BG
Bobby Griffin
Raymond James Financial
2 questions for SNBR
Also covers: ARKO, CASY, DLTR +10 more
DS
Daniel Silverstein
UBS Group AG
2 questions for SNBR
Also covers: PRPL, SGI
DS
Dan Silverstein
UBS Group
2 questions for SNBR
Also covers: ASO, PRPL, SEED +1 more
Alessandra Jimenez
Raymond James & Associates, Inc.
1 question for SNBR
Also covers: LEG, PRG
Brad Thomas
KeyBanc Capital Markets
1 question for SNBR
Also covers: CASY, CENT, ETD +9 more
MM
Matthew Mccartney
Wedbush Securities Inc.
1 question for SNBR
Also covers: PRPL
Recent press releases and 8-K filings for SNBR.
Sleep Number Details Turnaround Strategy, Product Launch, and Financial Improvements
SNBR
Guidance Update
Product Launch
Management Change
- Sleep Number has implemented $135 million in cost savings since April 2025, primarily from fixed costs, and projects an exit rate for 2025 Adjusted EBITDA closer to 8%, with the potential to exceed previous double-digit margins.
- The company launched a new entry-level bed at $1,599 (Comfort Mode) that does not require an app, aiming to expand its market reach and drive value in the $1,000-$5,000 price range.
- Sleep Number has amended and extended its debt to align covenants with its turnaround plan and provide financial flexibility.
- The management team has undergone significant changes, including a new CMO and CFO, to introduce fresh thinking while retaining institutional knowledge.
- The company is modernizing its marketing infrastructure and exploring alternative distribution channels beyond its historical direct-to-consumer model, such as wholesale.
4 days ago
Sleep Number Outlines Turnaround Strategy, New Product Launch, and Debt Amendment
SNBR
Management Change
Product Launch
Debt Issuance
- Sleep Number's CEO, Linda Findley, who joined in April 2025, has focused on cost savings, taking out approximately $135 million from the business, primarily from fixed costs, and resetting product and marketing strategies.
- The company launched a new entry-level bed, "Comfort Mode," priced at $1,599, and a new zero-clearance base, aiming to simplify the customer experience and broaden its market reach by offering a non-app option.
- Sleep Number has modernized its marketing infrastructure, introducing more digital marketing and tracking, with an intent to achieve more with less spend and shift messaging to focus on customer benefits.
- The company amended and extended its debt to align covenants with its turnaround plan and expects to achieve an 8% adjusted EBITDA exit rate for 2025, with a goal to exceed previous low double-digit EBITDA margins over time.
- Significant management changes have occurred, including a new CMO and CFO, alongside internal shifts, to retain institutional knowledge while introducing fresh thinking.
4 days ago
Sleep Number CEO Outlines Turnaround Strategy, New Products, and Financial Outlook
SNBR
CEO Change
Product Launch
Guidance Update
- Linda Findley, who became President and CEO in April 2025, has implemented $135 million in cost savings, primarily from fixed costs, and is modernizing the company's marketing infrastructure.
- Sleep Number launched a new entry-level bed, Comfort Mode, at $1,599, and a new zero-clearance base, designed to broaden its customer base by offering a non-app experience.
- The company amended and extended its debt to align covenants with its turnaround plan and has made significant management changes, including a new CMO and CFO.
- Sleep Number anticipates an Adjusted EBITDA exit rate closer to 8% for 2025 and aims to exceed previous low double-digit EBITDA margins over time.
- The company plans to optimize its store footprint through a slight reduction and is exploring alternative distribution channels, such as wholesale, having tested with HSN in November.
4 days ago
Sleep Number Appoints New CFO and Reaffirms 2025 Financial Guidance
SNBR
CFO Change
Guidance Update
Executive Compensation
- Sleep Number Corporation has appointed Amy O'Keefe as its Chief Financial Officer, effective December 8, 2025.
- The company reaffirmed its full year 2025 financial guidance and expectations for net sales, adjusted EBITDA, year-end profitability exit rate, and compliance with revised loan covenants.
- Sleep Number has initiated a comprehensive financial and operational transformation, including over $135 million in cost reductions in 2025 compared to 2024, and an amended and extended credit agreement through the end of 2027.
- The company anticipates generating positive free cash flow in 2026 and beyond, with the goal of de-levering the balance sheet.
- Ms. O'Keefe's compensation package includes an annual base salary of $625,000, a target annual incentive of 70% of base salary for 2026, and eligibility for $1.2 million in annual long-term incentive awards starting March 2027.
Dec 2, 2025, 12:32 PM
Sleep Number Reports Disappointing Q3 2025 Results, Updates Full-Year Guidance, and Secures Debt Extension
SNBR
Guidance Update
Demand Weakening
Debt Issuance
- Sleep Number reported disappointing Q3 2025 operating results, with net sales of $343 million (down 19.6% year-over-year) and adjusted EBITDA of $13.3 million.
- The company successfully secured an amendment and extension of its bank agreement through 2027, providing financial flexibility for its turnaround initiatives.
- Fixed operating expenses were reduced by $115 million year-to-date, exceeding the $130 million cost-out target, though media investments in Q2 and Q3 were down 32% year-over-year, impacting sales.
- Full-year 2025 guidance was updated to approximately $1.4 billion in net sales, $70 million in adjusted EBITDA, and negative $50 million in free cash flow.
- Looking to 2026, the company aims to stabilize sales and return to growth by revamping product offerings, modernizing marketing, expanding distribution, and continuing fixed cost reductions.
Nov 5, 2025, 1:30 PM
Sleep Number Corporation Announces Third Quarter 2025 Results and Revised 2025 Outlook
SNBR
Earnings
Guidance Update
Demand Weakening
- Sleep Number Corporation reported net sales of $343 million for the quarter ended September 27, 2025, representing a 19.6% decrease compared to the third quarter of 2024, leading to a net loss of $40 million (or $1.73 per diluted share).
- The company's Adjusted EBITDA for Q3 2025 was $13 million, a 52% decline year-over-year, with the Adjusted EBITDA margin decreasing to 3.9%.
- Sleep Number successfully amended and extended its bank agreement through 2027, providing greater financial flexibility; its trailing 12-month leverage ratio stood at 5.0x EBITDAR against an amended covenant maximum of 5.25x.
- For the full year 2025, the company revised its outlook, expecting net sales of approximately $1.4 billion, a gross profit margin of approximately 60%, adjusted EBITDA of approximately $70 million, and negative free cash flow of approximately $50 million.
Nov 5, 2025, 12:02 PM
Sleep Number Announces Third Quarter 2025 Results
SNBR
Earnings
Guidance Update
Demand Weakening
- Sleep Number reported net sales of $343 million for the third quarter of 2025, a 19.6% decrease compared to the third quarter of 2024, resulting in a net loss of $40 million and Adjusted EBITDA of $13 million.
- The company secured an amendment and extension of its bank agreement through 2027, providing financial flexibility to support its ongoing company-wide turnaround efforts.
- Operating expenses were reduced by $44.8 million, or 18%, year-over-year before restructuring and other non-recurring costs, and the company is on track to exceed its 2025 cost savings target.
- Sleep Number revised its full-year 2025 outlook, now expecting net sales of approximately $1.4 billion, adjusted EBITDA of approximately $70 million, and negative free cash flow of approximately $50 million.
Nov 5, 2025, 12:00 PM
Sleep Number Corp Announces Management Change via 8-K
SNBR
CFO Change
Management Change
- Joel Laing resigns as Vice President, Treasurer, and Chief Accounting Officer effective June 5, 2025, after nearly 13 years with the company.
- Francis Lee, currently the CFO, will assume the role of principal accounting officer effective June 6, 2025.
May 28, 2025, 12:00 AM
Sleep Number Corp Reports Q1 2025 Results & Strategic Restructuring Updates
SNBR
Earnings
Management Change
Demand Weakening
- Q1 2025 Financial Results: Net sales declined by 16% to $393 million, with a gross profit margin of 61.2%, a net loss of $8.6 million, and Adjusted EBITDA of $22 million (down 41% YoY)
- Organizational Restructuring: The company implemented a new structure aimed at streamlining decision-making, including a 21% reduction in corporate management roles and planned annual operating expense cuts of $80–$100 million (excluding restructuring costs)
- Tariff & Cost Adjustments: Management is addressing external pressures with an estimated $30 million tariff impact (net of a potential $17 million offset) and plans for further cost reductions
- Leadership Changes: New executive appointments include a new Chief Marketing Officer; Melissa Barra as EVP, Chief Product and Enterprise Strategy Officer; Chris Krusmark as EVP, Chief Retail and People Officer; Hitesh Patel with expanded technology consolidation duties; and Tanya Skogerboe as Senior VP, Chief Supply Chain and Transformation Officer. Additionally, the role of Chief Innovation Officer was eliminated, with former incumbent Annie Bloomquist transitioning to an advisory role until May 31, 2025
Apr 30, 2025, 9:01 PM
Sleep Number Q1 2025 Results Announcement
SNBR
Earnings
- Filed Form 8-K on April 16, 2025, signaling the upcoming release of Q1 2025 financial results.
- Scheduled release on April 30, 2025 after market close, with an earnings conference call at 5 p.m. EDT.
Apr 16, 2025, 12:00 AM
Quarterly earnings call transcripts for Sleep Number.
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