Overview Key strengths Key risks Market leader in fragmented decorative and functional lighting categories with leading brands at various price points. Large upfront investments and multiyear payback periods for showroom expansion. Showroom expansion strategy increases brand awareness and improves product curation, customer experience, and service. Sizable increase in operating lease liabilities associated with new showrooms. Supportive industry trends given residential housing deficit in the U.S. Financial-sponsor ownership increases the risk of debt-financed shareholder distributions. Recession and housing downturn could delay repair and remodel projects. This is due to incremental investments and leases for showroom expansion. The company reported 17% year-over-year revenue growth in the fiscal year ended Dec. 31, 2022 (fiscal 2022). The increase was driven by Visual Comfort's pricing
