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EXHIBIT 99.1 Luvu Brands Reports Fiscal First Quarter 2022 Results Reports Record First Quarter Net Sales of $ 6.2 million ; Up 16 % from the prior year first quarter Atlanta , Georgia , November 15 , 2021 - Luvu Brands , Inc. ( OTCQB : LUVU ) , a designer , manufacturer and marketer of a portfolio of consumer lifestyle brands , today reported financial results for its fiscal first quarter ended September 30 , 2021 . Fiscal First Quarter 2021 Highlights Three months ended September 30 , 2021 as compared to the three months ended September 30 , 2020 : Net sales increased 16 % to a first quarter record of $ 6.2 million from $ 5.4 million . Total gross profit of $ 1.5 million , unchanged from the prior year . Gross profit as a percentage of net sales decreased to 24 % from 28 % . Operating expenses were $ 1,176,000 , an increase of 12 % , or approximately $ 124,000 , from the prior year . Net income of $ 227,000 , or $ 0.00 per share , compared to a net income of $ 329,000 , or $ 0.00 per share in the prior year . Adjusted EBITDA was $ 398,000 for the quarter compared to $ 494,000 in the prior year quarter . Louis Friedman , Chairman and Chief Executive Officer , commented , “ During the first quarter , our margins were negatively impacted by raw material cost increases , labor shortages and higher freight costs compared to last year . We continue to increase our retail and wholesale selling prices , we have outsourced additional manufacturing to Mexico and invested heavily in additional automation to lower our costs . Although some raw material costs have begun to come down , I anticipate continued margin pressure for the next three to six months . Despite global supply chain disruptions , we are well stocked for the upcoming holiday season and I expect sales growth to be consistent with the most recent quarter . " Fiscal First Quarter 2022 Results Net sales increased 16 % to $ 6.2 million , compared to $ 5.4 million in the same year - ago quarter . Sales of Liberator products increased 36 % to $ 2.7 million from $ 2.0 million in the prior year . Jaxx product sales totaled $ 1.9 million , up 10 % from $ 1.7 million in the first quarter of the prior fiscal year . Avana products decreased 23 % to $ 744,000 from $ 960,000 in the prior year . Gross profit for the first quarter totaled $ 1.5 million , compared to $ 1.5 million in the prior year first quarter . Labor costs , raw material csots and transportation cost increases caused the decline in the percentage gross margin , dropping to 24 % from 28 % in the prior year . Operating expenses were approximately 19 % of net sales , or approximately $ 1,176,000 , compared to 20 % of net sales , or approximately $ 1,052,000 , for the same period in the prior year . Net income for the quarter was $ 227,000 , or $ 0.00 per share , compared to a net income of $ 329,000 , or $ 0.00 per share in the prior year first quarter . Adjusted EBITDA for the three months ended September 30 , 2021 was $ 398,000 compared to $ 494,000 in the prior year period . Cash and cash equivalents on September 30 , 2021 totaled $ 961,000 compared to $ 977,000 at June 30 , 2021 . Working capital increased from $ 435,000 at June 30 , 2021 to $ 705,000 at September 30 , 2021 . Financial Outlook The Company expects revenue to be between $ 6.4 and $ 6.6 million in the second quarter of fiscal 2022 , representing 15 % year - over - year growth at the midpoint . Conference Call Information Management will host a conference call at 11:00 a.m. EST ( 10:00 a.m. CST ; 8:00 a.m. PST ) on November 15 , 2021 to review the results for the first quarter . To listen and participate in the call , please register on this weblink https://www.webcaster4.com/Webcast/Page/2527/43678 . After the formal presentation , there will be a Q & A session . Shareholders and other interested parties may ask questions through either the weblink or by calling 877-545- 0320 ( international 973-528-0002 ) , participant access code is 927430. The replay of the call will remain available on the Company's investor relations website , www.luvubrands.com , until February 12 , 2022 . Forward - Looking Statements Certain matters discussed in this press release may be forward - looking statements . Such forward - looking statements can be identified by the use of words such as “ should , ” “ may , ” “ intends , " " anticipates , ” “ believes , " " estimates , " " projects , " " forecasts , " " expects , " " plans , " and " proposes . " These forward- looking statements are not guarantees of future performance and are subject to risks , uncertainties , and other factors , some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward - looking statements . You are urged to carefully review and consider any cautionary statements and other disclosures in our Annual Report on Form 10 - K for the fiscal year ended June