Lulu's Fashion Lounge Holdings reported strong Q3 2025 results, driven by robust performance in special occasion categories and a significant improvement in gross and product margins, leading to a second consecutive quarter of positive adjusted EBITDA.

• Special occasion and bridesmaids categories generated substantial year-over-year net sales growth, reinforcing the company’s event attire strategy.
• Product margins increased by approximately 500 basis points compared to the previous year, highlighting effective margin recovery initiatives.
• Gross margins expanded to 42.6%, reflecting ongoing efforts to optimize product offerings and reduce markdowns.
• Continued improvement in return rates signals enhanced customer satisfaction and demand for curated assortments.
• A new credit agreement with White Oak enhances liquidity and financial flexibility, positioning Lulu's for sustained growth.