2025 Q1 - Quarterly Report

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,D.C.20549 FORM10-Q oQUARTERLYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthequarterlyperiodendedMay5,2024or ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934Forthetransitionperiodfromto CommissionFileNumber:001-38555 THELOVESACCOMPANY (Exactnameofregistrantasspecifiedinitscharter) Delaware32-0514958 (Stateorotherjurisdictionofincorporationororganization) (I.R.S.EmployerIdentificationNo.) TwoLandmarkSquare,Suite300 Stamford,Connecticut06901 (Addressofprincipalexecutiveoffices)(ZipCode) Registrant’stelephonenumber,includingareacode:(888)636-1223Notapplicable (Formername,formeraddressandformerfiscalyear,ifchangedsincelastreport)SecuritiesregisteredpursuanttoSection12(b)oftheAct: Titleofeachclass TradingSymbol(s) Nameofeachexchangeonwhichregistered CommonStock,$0.00001parvaluepershare LOVE TheNasdaqStockMarketLLC Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.☒Yes☐No IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles)☒Yes☐No Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,smallerreportingcompany,oranemerginggrowthcompany.Seethedefinitionsof“largeacceleratedfiler,”“acceleratedfiler,”“smallerreportingcompany,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Largeacceleratedfiler ☐Acceleratedfiler ☒ Non-acceleratedfiler ☐Smallerreportingcompany ☐ Emerginggrowthcompany ☐ Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct☐ IndicatebycheckmarkwhethertheRegistrantisashellcompany(asdefinedbyRule12b-2oftheExchangeAct).Yes☐No☒ AsofJune10,2024,therewere15,550,537sharesofcommonstock,$0.00001parvaluepershare,outstanding. TABLEOFCONTENTS Page PARTI.FINANCIALINFORMATION1 Item1.FinancialStatements1 CondensedBalanceSheetsasofMay5,2024andFebruary4,2024(unaudited)1 CondensedStatementsofOperationsforthethirteenweeksendedMay5,2024andApril30,2023(unaudited) 2 CondensedStatementsofChangesinStockholders’EquityforthethirteenweeksendedMay5,2024andApril30,2023(unaudited) 3 CondensedStatementsofCashFlowsforthethirteenweeksendedMay5,2024andApril30,2023 (unaudited) 4 NotestoFinancialStatements(unaudited) 5 Item2. Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations 13 Item3. QuantitativeandQualitativeDisclosuresaboutMarketRisk 20 Item4. ControlsandProcedures 21 PartII.OTHERINFORMATION22 Item1.LegalProceedings22 Item1A.RiskFactors22 Item2.UnregisteredSalesofEquitySecuritiesandUseofProceeds22 Item3.DefaultsUponSeniorSecurities22 Item4.MineSafetyDisclosures22 Item5.OtherInformation22 Item6.Exhibits23 i Forward-LookingStatements ThisQuarterlyReportonForm10-Q,includinginPartI–Item2.Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations,andelsewhere,containsforward-lookingstatementswithinthemeaningofthePrivateSecuritiesLitigationReformActof1995andotherlegalauthority,whichstatementsmayinvolvesubstantialriskanduncertainties.AllstatementscontainedinthisQuarterlyReportonForm10-Qotherthanstatementsofhistoricalfact,includingstatementsregardingourfutureoperatingresultsandfinancialposition,ourbusinessstrategyandplans,marketgrowthandtrends,andourobjectivesforfutureoperations,areforward-lookingstatements.Insomecases,youcanidentifyforward-lookingstatementsbecausetheycontainwordssuchas“may,”“will,”“should,”“expects,”“plans,”“anticipates,”“could,”“intends,”“target,”“projects,”“contemplates,”“believes,”“estimates,”“predicts,”“potential,”or“continue”orthenegativeofthesewordsorothersimilartermsorexpressionsthatconcernourexpectations,strategy,plans,orintentions. Youshouldnotplaceunduerelianceonforwardlookingstatements.Wecannotassureyouthattheeventsandcircumstancesreflectedintheforward-lookingstatementswillbeachievedoroccuratalloronaspecifiedtimeframe.ThecautionarystatementssetforthinthisQuarterlyReportonForm10-Qidentifyimportantfactorswhichyoushouldconsiderinevaluatingourforward-lookingstatements.Thesefactorsinclude,amongotherthings:businessdisruptionsorotherconsequencesofeconomicinstability,politicalinstability,civilunrest,armedhostilitiesandglobalconflict,naturalandman-madedisasters,pandemicsorotherpublichealthcrises,orothercatastrophicevents;theimpactofchangesordeclinesinconsumerspendingandinflationonourbusiness,sales,resultsofoperationsandfinancialcondition;ourabilitytomanageandsustainourgrowthandprofitabilityeffectively,includingi