Purple Earnings Reports

Purple Innovation's third quarter revenue declined by 15.3% to $118.6 million, but the company saw improvements in profitability with adjusted gross margin increasing by 340bps and adjusted EBITDA loss narrowing to $(6.4) million. The restructuring plan is on track to deliver meaningful cost savings.

Purple Innovation reported a 2.0% increase in net revenue to $120.3 million for Q2 2024, with gross margins increasing to 40.7%. The company achieved net income of $0.0 million, a significant improvement from the prior year's net loss of $(40.5) million. They are on track for a return to profitability in the second half of the year.

Purple Innovation's first quarter 2024 net revenue increased by 12.5% to $120.0 million compared to the first quarter of 2023. The increase was driven by the positive response to the Company’s new product lineup and an increase in wholesale floor slots. The company is reiterating its 2024 outlook for full year net revenue to be in the range of $540 to $560 million and Adjusted EBITDA between $(20) million and $(10) million.

Purple Innovation's Q4 2023 saw a slight increase in net revenue, driven by new product success and increased advertising, despite industry headwinds. The company is focusing on market share, productivity, and innovation for future profitability.

Purple Innovation's Q3 2023 revenue was $140.0 million, a 2.0% decrease compared to Q3 2022. The company experienced a net loss of $(36.0) million, and gross margin decreased to 33.8%. Despite these challenges, the company saw sequential revenue growth and is optimistic about future performance.

Purple Innovation's Q2 2023 net revenue decreased by 16.1% to $120.9 million compared to the previous year. The company experienced an operating loss of $(37.3) million and a net loss of $(37.5) million. Despite these losses, June showed positive momentum with revenue run rate up 18% compared to the first 5 months of the year.

Purple Innovation's first quarter 2023 results showed a decrease in net revenue by 23.6% to $109.4 million compared to the previous year, alongside an increase in gross margin to 39.5%. The company experienced an operating loss of $(22.0) million and a net loss of $(23.3) million. Despite lower revenue, improved Adjusted EBITDA reflects operating efficiencies and cost management.

Purple Innovation's Q4 2022 net revenue decreased by 22.2% to $145.1 million compared to Q4 2021. Despite the revenue decline, gross margin increased to 35.0%. The company is optimistic about returning to growth in the back half of 2023 due to strategic initiatives and new product launches.

Purple Innovation, Inc. reported a decrease in net revenue but an increase in gross margin and operating income for Q3 2022. Net revenue decreased by 16.1% to $143.3 million, while gross margin increased to 41.5%. Operating income was $1.3 million, compared to an operating loss of $(6.6) million in the prior year period.

Purple Innovation reported a decrease in net revenue and a shift to a net loss for Q2 2022. The company faced challenges due to a shift in demand away from home-related categories, the impact of inflation on consumer discretionary spending, and an intentional reduction in advertising spend.

Purple Innovation's first quarter net revenue decreased by 23.2% to $143.2 million compared to the previous year. The company reported a net loss of $(13.6) million, and adjusted EBITDA was $(9.6) million. Despite these challenges, the company believes sequential improvements will occur each quarter and that it will achieve profitable growth in the second half of the year.

Purple Innovation reported a 7.2% increase in net revenue for the fourth quarter of 2021, reaching $186.4 million. Wholesale revenue increased by 35.9%, while DTC revenue decreased by 4.0%. The company's gross margin was 34.7%, and the operating loss was $(31.1) million. Net loss for the quarter was $(21.8) million.

Purple Innovation reported a decrease in net revenue for Q3 2021, primarily due to production issues and reduced marketing spend. While wholesale revenue increased, DTC revenue decreased. The company is focusing on strategic goals, including expanding wholesale retail doors and increasing marketing investment.

Purple Innovation, Inc. reported a 10.6% increase in net revenue to $182.6 million compared to the second quarter of 2020. The company faced isolated manufacturing challenges that limited their ability to fulfill demand. They anticipate exiting the backlog position by late August and expect full-year net revenue to be between $820 million and $850 million.

Purple Innovation reported a strong first quarter in 2021, with net revenue increasing by 52% to $186.4 million and net income reaching $20.9 million. The company's performance was driven by strong demand across all product lines and channels, with significant growth in both DTC and wholesale revenues. Adjusted EBITDA also saw a substantial increase of 115% to $22.8 million.

Purple Innovation reported a strong fourth quarter, with net revenue increasing by 40% and operating income increasing by 171%. The company's DTC channel saw a 57% increase, driven by strong mattress sales and higher demand for other products. Purple Innovation is optimistic about 2021, estimating full year revenue to be in the range of $840 to $880 million.

Purple Innovation reported a 59.4% increase in net revenue to $187.1 million and a 120.9% increase in operating income to $24.3 million compared to the third quarter of 2019. The company's cash and cash equivalents increased to $98.0 million as of September 30, 2020.

Purple Innovation reported a record-breaking second quarter with a 60.3% increase in net revenue to $165.1 million and an operating income of $32.0 million. The company successfully capitalized on the strengths of its business model and changes in consumer buying behavior due to COVID-19, particularly in the direct-to-consumer channel.

Purple Innovation reported a strong first quarter with a 46% increase in net revenue to $122.4 million and a net income of $20.0 million. The company successfully navigated the challenges posed by the COVID-19 pandemic by focusing on its digital channel and managing its supply chain effectively.

Purple Innovation reported strong Q4 2019 results, with net revenue increasing by 58% to $124.3 million. The company's gross margin improved to 47.7%, and operating income was $2.8 million, a significant improvement from the prior year. The growth was driven by strength in both the wholesale and DTC channels.