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Jun 30, 2023
Purple Q2 2023 Earnings Report
Purple Innovation reported second quarter results, marked by the largest product introduction.
Key Takeaways
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.
Net revenue decreased by 16.1% to $120.9 million.
Gross margin decreased to 31.8%, but excluding discounts and one-time costs, it was 38.6%.
Operating loss was $(37.3) million.
Net loss attributable to Purple Innovation, Inc. was $(37.5) million.
Purple
Purple
Forward Guidance
The Company expects net revenue to be in the range of $560 to $590 million and adjusted EBITDA between $(10) million and breakeven.