睡眠数字公司2025年度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflectthe correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by anyof the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ The aggregate market value of the common stock held by non-affiliates of the registrant as of June28, 2025, was $131,813,000 (based on the last reported saleprice of the registrant’s common stock on that date as reported by Nasdaq). As of January31, 2026, there were 22,864,000 shares of the registrant’s Common Stock outstanding. Portions of the registrant’s proxy statement to be furnished to shareholders in connection with its 2026 Annual Meeting of Shareholders are incorporated byreference in Part III, Items 10-14 of this Annual Report on Form 10-K. SLEEP NUMBER CORPORATIONAND SUBSIDIARIES Sleep Number®, SleepIQ®, Sleep Number 360®, 360®, the Double Arrow logo, Select Comfort®, AirFit®, Climate360®,ClimateCool®, Comfortaire®, DualTemp®, the DualTemp logo, the DualAir Technology Inside logo, FlexFit®, FlexTop®,HealthIQ®, IndividualFit®, Know Better Sleep®, Pillow[ology]®, PillowFit®, RespiratoryIQ®, Responsive Air®, Sleep Is Training®, Sleep Number Inner Circle®, Sleep30®, This Is Not A Bed®, We Make Beds Smart®, WhisperFlo®, AutoSnore™, BreatheIQ™, BreatheIQ+™, the BreatheIQ logo, the BreatheIQ+ logo, ComfortMode™, EnviroIQ™, HeartIQ™, Individualized Sleep Experiences™, Tri-Brid™, Smart SleeperSM, WellnessIQ™, ActiveComfort™, Clima-Temp™,ClimateSeries™, Comfort Service™, ComfortFit™, CoolFit™, Coolgenex™, Create Your Perfect Comforter™, CreateYour Perfect Pillow™, Does Your Bedding Do that?™, Does Your Pillow Do That?™, DownComfort™, DualAir™,ExactFit™, Firmness Control™, FlexTop™, In Balance™, Knows You. Senses You. Adjusts to You™, Logic™ Label,LuxWarmth™, NaturalFit™, No Shift™, Partner Snore™, PlushComfort™, Relaxation™, ResponseFit™, Rest&Read™,Sleep Better Together™, Sleep Number Does That™, Smart™ Skirt, Smart Button™, SmartFit™, Smart Temp™, SmartSleeper™, The Best Bed for Couples™, ThermaLux™, True Temp™, VariaCool™, Winter Soft™, its bed model names,and the Company’s other marks and stylized logos are trademarks and/or service marks of Sleep Number. This Form10‑K may also contain trademarks, trade names and service marks that are owned by other persons or entities. The Company’s fiscal year ends on the Saturday closest to December 31, and, unless the context otherwise requires, allreferences to years in this Form 10-K refer to its fiscal years. The Company’s fiscal year is based on a 52- or 53-week year. All years presented in this Form 10-K are 52 weeks, except for the 2025 fiscal year ended January 3, 2026, which isa 53-week year. Forward-looking Statements This Annual Report on Form 10-K contains or incorporates by reference certain forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in orincorporated by reference into this Annual Report on Form 10-K that are not statements of historical fact may be deemedto be forward-looking statements, including but not limited to projections of revenues, results of operations, financialcondition or other financial items; management’s conclusion regarding its substantial doubt about the Company’s ability tocontinue as a going concern, and related mitigation plans; any statements of plans, strategies and objectives ofmanagement for future operations; any statements regarding proposed new products, services or developments, includingpotential features of Sleep Number’s products that may be developed in the future; any