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EXHIBIT 99.1 Luvu Brands Reports Fiscal 2021 Second Quarter and First Half Results Reports Record First Half Net Sales of $ 11.1 million ; Record Net Income of $ 1.8 million Atlanta , Georgia , February 16 , 2021 – Luvu Brands , Inc. ( OTCQB : LUVU ) , a designer , manufacturer and marketer of a portfolio of consumer lifestyle brands , today reported fiscal 2021 second quarter and first half results . Fiscal Second Quarter 2021 Highlights Three months ended December 31 , 2020 as compared to the three months ended December 31 , 2019 • Net sales increased 20 % to a record $ 5.7 million from $ 4.8 million . • Total gross profit of $ 1.6 million , up slightly from the prior year . • Gross profit as a percentage of net sales at 27 % ; down from 32 % in 2019 . • • Operating expenses were relatively unchanged at $ 1,109,000 . Income from operations was a record $ 457,000 , up 10 % from $ 414,000 in 2019 . • Net income of $ 1,465,000 , or $ 0.02 per share , compared to a net income of $ 257,000 , or $ 0.00 per share , in the prior year . First Half Fiscal 2021 Highlights Six months ended December 31 , 2020 as compared to the six months ended December 31 , 2019 • Net sales increased 25 % to a record $ 11.1 million from $ 8.9 million . • Total gross profit of $ 3.1 million , up 15 % from $ 2.7 million in the prior year . • Gross profit as a percentage of net sales at 28 % ; down from 30 % in 2019 . • • Operating expenses were $ 2.2 million , up 1.5 % from the prior year . Income from operations was a record $ 893,000 , up 69 % from $ 528,000 in 2019 . • Net income of $ 1,794,000 , or $ 0.02 per share , compared to a net income of $ 212,000 , or $ 0.00 per share , in the prior year . Adjusted EBITDA was a record $ 2.1 million for the first half compared to $ 618,000 in the prior year first half . • Louis Friedman , Chairman and Chief Executive Officer , commented , “ Even without the PPP loan forgiveness , we continued to deliver strong financial results for the second quarter and first half of fiscal 2021. Demand for Liberator and Jaxx products continued to be strong during the December quarter ; Avana sales were limited by our production capacity . We recently purchased over $ 700,000 of new production equipment which we expect will increase our production capacity across all product lines . " Fiscal Second Quarter 2021 Results Net sales increased 20 % to $ 5.7 million , compared to $ 4.8 million in the same year - ago quarter . Sales of Liberator products increased 25 % to $ 2.5 million from $ 2.0 million in the prior year . Jaxx product sales totaled $ 1.7 million , up 45 % from $ 1.2 million in the second quarter of the prior fiscal year . Avana products decreased 20 % to $ .8 million from $ 1.0 million in the prior year . Gross profit for the second quarter totaled $ 1.6 million , compared to $ 1.5 million in the prior year second quarter . The Company experienced labor and raw material cost increases during the second quarter ; gross profit as a percentage of net sales fell to 27 % from 32 % in the prior year second quarter . Operating expenses were approximately 19 % of net sales , or approximately $ 1,109,000 , compared to 23 % of net sales , or approximately $ 1,105,000 , for the same period in the prior year . Income from operations was $ 457,000 compared to $ 414,000 in the prior year . Net income for the quarter was $ 1,465,000 , or $ 0.02 per share , compared to net income of $ 257,000 , or $ 0.00 per share in the prior year second quarter . Secured and unsecured debt decreased from $ 3.5 million on June 30 , 2020 to $ 2.3 million on December 31 , 2020 and the working capital deficit improved from $ 1.4 million to $ .6 million .