GARDEN CITY, NY, August 7, 2025 – Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products used in the home, today reported its financial results for the quarter ended June 30, 2025.

Rob Kay, Lifetime's Chief Executive Officer, commented, “Despite ongoing macroeconomic pressures and the evolving impact of tariff-related headwinds, we remain encouraged by several positive developments this quarter. Gross margin held steady at 38.6%, underscoring strong execution in both pricing strategy and supply chain management. We also continued to reduce SG&A expenses, further improving our cost efficiency. Backed by a strong liquidity position, we believe the Company is well-equipped to manage near-term volatility, much of which we view as non-recurring, while continuing to build a foundation for sustainable long-term growth. I am incredibly proud of our team and the headway we have made in a challenging and dynamic market environment.”

Consolidated net sales for the three months ended June 30, 2025 were $131.9 million, representing a decrease of $9.8 million, or 6.9%, as compared to net sales of $141.7 million for the corresponding period in 2024. In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations and was determined by applying 2025 average rates to 2024 local currency amounts, consolidated net sales decreased by $10.4 million, or 7.3%, as compared to consolidated net sales in the corresponding period in 2024. A table reconciling this non-GAAP financial measure to consolidated net sales, as reported, is included below.

Gross margin for the three months ended June 30, 2025 was $50.8 million, or 38.6%, as compared to $54.6 million, or 38.5%, for the corresponding period in 2024.

Selling, general and administrative expenses for the three months ended June 30, 2025 were $37.5 million, a decrease of $0.8 million, or 2.1%, as compared to $38.3 million for the corresponding period in 2024.

Loss from operations was $(37.2) million, as compared to income from operations of $1.2 million for the corresponding period in 2024. Loss from operations for the current period includes a non-cash goodwill impairment charge of $33.2 million related to the U.S. segment. The charge was recognized following the completion of an interim goodwill impairment test, which was triggered by impacts of the recently implemented tariffs. As of June 30, 2025, the Company's goodwill balance has been reduced to zero and therefore we expect in the future a more consistent alignment between GAAP accounting earnings and non-GAAP adjusted earnings.

Adjusted income from operations(1) was $0.9 million, as compared to $5.6 million for the corresponding period in 2024.

Net loss was $(39.7) million, or $(1.83) per diluted share, as compared to net loss of $(18.2) million, or $(0.85) per diluted share, in the corresponding period in 2024. Net loss for the current period included a non-cash goodwill impairment charge of $33.2 million. Net loss for the prior period included a non-cash charge of $14.2 million due to the Company's loss of significant influence in its equity investment in Grupo Vasconia.

Adjusted net loss(1) was $(10.9) million, or $(0.50) per diluted share, as compared to adjusted net loss(1) of $(0.6) million, or $(0.03) per diluted share, in the corresponding period in 2024.

Consolidated net sales for the six months ended June 30, 2025 were $271.9 million, a decrease of $12.0 million, or 4.2%, as compared to net sales of $283.9 million for the corresponding period in 2024. In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations and was determined by applying 2025 average rates to 2024 local currency amounts, consolidated net sales decreased by $12.4 million, or 4.4%, as compared to consolidated net sales in the corresponding period in 2024. A table reconciling this non-GAAP financial measure to consolidated net sales, as reported, is included below.

Gross margin for the six months ended June 30, 2025 was $101.5 million, or 37.3%, as compared to $112.1 million, or 39.5%, for the corresponding period in 2024.

Selling, general and administrative expenses for the six months ended June 30, 2025 were $69.0 million, a decrease of $8.9 million, or 11.4%, as compared to $77.9 million for the corresponding period in 2024. Selling, general and administrative expenses for the current period includes a net legal settlement gain of $6.4 million.

Loss from operations was $(36.1) million, as compared to income from operations of $3.0 million for the corresponding period in 2024. Loss from operations for the current period includes a non-cash goodwill impairment charge of $33.2 million related to the U.S. segment. The charge was recognized following the completion of an interim goodwill impairment test, which was triggered by impacts of the recently implemented tariffs. As of June 30, 2025, the Company's goodwill balance has been reduced to zero and therefore we expect in the future a more consistent alignment between GAAP accounting earnings and non-GAAP adjusted earnings.

Adjusted income from operations(1) was zero, as compared to $11.3 million for the corresponding period in 2024.

Net loss was $(43.9) million, or $(2.03) per diluted share, as compared to net loss of $(24.4) million, or $(1.14) per diluted share, in the corresponding period in 2024. Net loss for the current period includes a non-cash goodwill impairment charge of $33.2 million. Net loss for the prior period includes a non-cash charge of $14.2 million due to the Company's loss of significant influence in its equity investment in Grupo Vasconia.

Adjusted net loss(1) was $(16.2) million, or $(0.75) per diluted share, as compared to adjusted net loss(1) of $(3.8) million, or $(0.18) per diluted share, in the corresponding period in 2024.

Adjusted EBITDA(1) was $50.7 million for the trailing twelve months ended June 30, 2025.

Liquidity as of June 30, 2025 was $96.9 million, consisting of $12.0 million of cash and cash equivalents, $65.7 million of availability under the ABL Agreement, limited by the Term Loan financial covenant, and $19.2 million of available funding under the Receivables Purchase Agreement.

(1) A table reconciling this non-GAAP financial measure to its most comparable GAAP financial measure, as reported, is included below.

On August 5, 2025, the Company's Board of Directors declared a quarterly dividend of $0.0425 per share payable on November 14, 2025 to stockholders of record on October 31, 2025.

The Company has scheduled a conference call for Thursday, August 7, 2025 at 11:00 a.m. (Eastern Time). The dial-in number for the conference call is 1-844-826-3035 (U.S.) or 1-412-317-5195 (International).

A live webcast of the conference call will be accessible through:

https://viavid.webcasts.com/starthere.jsp?ei=1727662&tp_key=111a0de2fc

For those who cannot listen to the live broadcast, an audio replay of the webcast will be available on the Company’s investor relations website at https://lifetimebrands.gcs-web.com/ or via telephone replay by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International) and entering access code 10201512. The replay of the webcast will be available for one year.

This earnings release contains non-GAAP financial measures, including constant currency net sales, adjusted income (loss) from operations, adjusted net loss, adjusted diluted loss per common share, adjusted EBITDA. A non-GAAP financial measure is a numerical measure of a company’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets, or statements of cash flows of a company; or, includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. These non-GAAP financial measures are provided because the Company's management uses these financial measures in evaluating the Company’s on-going financial results and trends, and management believes that exclusion of certain items allows for more accurate period-to-period comparison of the Company’s operating performance by investors and analysts. Management uses these non-GAAP financial measures as indicators of business performance. These non-GAAP financial measures should be viewed as a supplement to, and not a substitute for, GAAP financial measures of performance. As required by SEC rules, the Company has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

In this press release, the use of the words “advance,” “believe,” “continue,” “could,” “deliver,” “drive,” “enable,” “expect,” “gain,” “goal,” “grow,” “intend,” “maintain,” “manage,” “may,” “outlook,” “plan,” “positioned,” “project,” “projected,” “should,” “take,” “target,” “unlock,” “will,” “would”, or similar expressions is intended to identify forward-looking statements. Such statements include all statements regarding the growth of the Company, the Company’s financial guidance, the Company’s ability to navigate the current environment and advance the Company’s strategy, the Company’s commitment to increasing investments in future growth initiatives, the Company’s initiatives to create value, the Company’s efforts to mitigate geopolitical factors and tariffs, the Company’s current and projected financial and operating performance, results, and profitability and all guidance related thereto, including forecasted exchange rates and effective tax rates, as well as the Company’s continued growth and success, future plans and intentions regarding the Company and its consolidated subsidiaries. Such statements represent the Company’s current judgments, estimates, and assumptions about possible future events. The Company believes these judgments, estimates, and assumptions are reasonable, but these statements are not guarantees of any events or financial or operational results, and actual results may differ materially due to a variety of important factors. Such factors might include, among others, the Company’s ability to comply with the requirements of its credit agreements; the availability of funding under such credit agreements; the Company’s ability to maintain adequate liquidity and financing sources and an appropriate level of debt, as well as to deleverage its balance sheet; seasonality of the Company's cash flows; the possibility of impairments to the Company’s goodwill; the possibility of impairments to the Company’s intangible assets; the highly seasonal nature of the Company’s business; the Company’s ability to drive future growth and profitability from its European operations; changes in U.S. or foreign trade or tax law and policy; changes in general economic conditions that could impact the Company’s customers and affect customer purchasing practices or consumer spending; customer ordering behavior; the performance of the Company’s newer products; expenses and other challenges relating to the integration of any future acquisitions; changes in demand for the Company’s products; changes in the Company’s management team; the significant influence of the Company’s largest stockholder; fluctuations in foreign exchange rates; changes in U.S. trade policy or the trade policies of nations in which the Company or the Company’s suppliers do business; shortages of and price volatility for certain commodities; global health epidemic; social unrest, including related protests and disturbances; the emergence, continuation and consequences of geopolitical conditions, including political instability in the U.S. and abroad, unrest and sanctions, war, conflict, including the ongoing conflicts between Russia and the Ukraine, conflicts in the Middle East, and increasing tensions between China and Taiwan; legislative and regulatory risks, including those relating to the recent enactment of the OBBBA; macro-economic challenges, including labor disputes, depreciation of the U.S. dollar, volatility in the capital markets, inflationary impacts and disruptions to the global supply chain; dependence on third-party manufacturers; increase in supply chain costs, including raw materials, sourcing, transportation and energy; the imposition of duties and tariffs and other trade barriers and retaliatory countermeasures and/or economic sanctions implemented by the U.S. and other governments; impact of tariffs and trade policies, particularly with respect to China; the Company’s ability to successfully integrate acquired businesses; the Company’s expectations regarding customer purchasing practices and the future level of demand for the Company’s products; the Company’s ability to execute on the goals and strategies set forth in the Company’s Project Concord plan; and significant changes in the competitive environment and the effect of competition on the Company’s markets, including on the Company’s pricing policies, financing sources and ability to maintain an appropriate level of debt. The Company undertakes no obligation to update these forward-looking statements other than as required by law.

Lifetime Brands is a leading global designer, developer and marketer of a broad range of branded consumer products used in the home. The Company markets its products under well-known kitchenware brands, including Farberware®, KitchenAid®, Sabatier®, Amco Houseworks®, Chef’n® Chicago™ Metallic, Copco®, Fred® & Friends, Houdini™, KitchenCraft®, Kamenstein®, La Cafetière®, MasterClass®, Misto®, Swing-A-Way®, Taylor® Kitchen, Rabbit®, and Dolly®; respected tableware and giftware brands, including Mikasa®, Pfaltzgraff®, Fitz and Floyd®, Empire Silver™, Gorham®, International® Silver, Towle® Silversmiths, Wallace®, Wilton Armetale®, V&A®, Royal Botanic Gardens Kew®, Year & Day®, Dolly®, Royal Leerdam®, and ONIS®; and valued home solutions brands, including BUILT NY®, S’well®, Taylor® Bath, Taylor® Kitchen, Taylor® Weather, Planet Box®, and Dolly®.

The Company also provides exclusive private label products to leading retailers worldwide.

The Company’s corporate website is www.lifetimebrands.com.

Laurence Winoker, Chief Financial Officer

516-203-3590

investor.relations@lifetimebrands.com

or

Shannon Devine

Main: 203-741-8811

LCUT@mzgroup.us

(unaudited)

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Net sales			$	131,862					$	141,666					$	271,947					$	283,908
Cost of sales			81,023						87,116						170,471						171,811
Gross margin			50,839						54,550						101,476						112,097
Distribution expenses			17,314						15,052						35,384						31,233
Selling, general and administrative expenses			37,495						38,331						68,963						77,867
Goodwill impairment			33,237						—						33,237						—
(Loss) income from operations			(37,207)						1,167						(36,108)						2,997
Interest expense			(5,054)						(5,157)						(9,969)						(10,771)
Mark to market loss on interest rate derivatives			(220)						(82)						(747)						(256)
Loss on equity securities			—						(14,152)						—						(14,152)
Loss before income taxes and equity in losses			(42,481)						(18,224)						(46,824)						(22,182)
Income tax benefit (provision)			2,782						57						2,924						(153)
Equity in losses, net of taxes			—						—						—						(2,092)
NET LOSS			$	(39,699)					$	(18,167)					$	(43,900)					$	(24,427)
BASIC LOSS PER COMMON SHARE			$	(1.83)					$	(0.85)					$	(2.03)					$	(1.14)
DILUTED LOSS PER COMMON SHARE			$	(1.83)					$	(0.85)					$	(2.03)					$	(1.14)

(in thousands—except share data)

(unaudited)

(1) For the twelve months ended June 30, 2025, legal settlement gain, net included a net settlement of $6.4 million, and adjusted for legal fees incurred from March 2, 2018 through March 31, 2025 of $1.8 million.

(2) For the twelve months ended June 30, 2025, the warehouse redesign expenses were related to the U.S. segment.

(3) Pro forma adjustments represent the amount of operating expense reductions projected by the Company as a result of actions taken through June 30, 2025 or expected to be taken within 18 months of June 30, 2025, net of the benefits realized during the twelve months ended June 30, 2025. These actions include cost savings initiatives for the U.S. segment related to reductions in employee expenses (i.e., including terminated employees, furloughed employees and temporary salary reductions) and costs saving for the International segment related to Project Concord.

(4) Adjusted EBITDA is a non-GAAP financial measure that is defined in the Company’s debt agreements. Adjusted EBITDA is defined as net income (loss), adjusted to exclude income tax provision (benefit), interest expense, depreciation and amortization, mark to market loss (gain) on interest rate derivatives, goodwill impairment, stock compensation expense, legal settlement gain, net and other items detailed in the table above that are consistent with exclusions permitted by our debt agreements.

(1) For the three and six months ended June 30, 2025 and 2024, warehouse redesign expenses were related to the U.S. segment.

(2) Adjusted net loss and adjusted diluted loss per common share in the three and six months ended June 30, 2025 excludes acquisition intangible amortization expense, a legal settlement gain, net, acquisition related expenses, warehouse redesign expenses, severance expense, mark to market loss on interest rate derivatives, and goodwill impairment. The income tax effect on adjustments reflects the statutory tax rates applied on the adjustments.

Adjusted net loss and adjusted diluted loss per common share in the three and six months ended June 30, 2024 excludes acquisition intangible amortization expense, acquisition related expenses, warehouse redesign expenses, mark to market loss on interest rate derivatives, and loss on equity securities. The income tax effect on adjustments reflects the statutory tax rates applied on the adjustments.

(3) Adjusted diluted loss per common share is calculated based on diluted weighted-average shares outstanding of 21,686 and 21,421 for the three month period ended June 30, 2025 and 2024, respectively. Adjusted diluted loss per common share is calculated based on diluted weighted-average shares outstanding of 21,639 and 21,399 for the six month period ended June 30, 2025 and 2024, respectively. The diluted weighted-average shares outstanding for the three and six months ended June 30, 2025 and 2024 do not include the effect of dilutive securities.

(1) For the three and six months ended June 30, 2025 and 2024, warehouse redesign expenses were related to the U.S. segment.

(2) Adjusted income from operations for the three and six months ended June 30, 2025 excludes acquisition intangible amortization expense, a legal settlement gain, net, acquisition related expenses, warehouse redesign expenses, severance expenses, and goodwill impairment. Adjusted income from operations for the three and six months ended June 30, 2024, excludes acquisition intangible amortization expense, acquisition related expenses, and warehouse redesign expenses.

(1) “Constant Currency” is determined by applying the 2025 average exchange rates to the prior year local currency sales amounts, with the difference between the change in “As Reported” net sales and “Constant Currency” net sales, reported in the table as “Currency Impact.” Constant currency sales growth is intended to exclude the impact of fluctuations in foreign currency exchange rates.