Purple Q2 2024 Earnings Report
Key Takeaways
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.
Net revenue increased by 2.0% to $120.3 million compared to Q2 2023.
Gross margin increased to 40.7% compared to 30.1% in the prior year period.
Operating loss improved to $(14.5) million from $(40.3) million in the same period last year.
Net income was $0.0 million, a significant improvement from the net loss of $(40.5) million in the prior year.
Purple
Purple
Forward Guidance
Purple expects full year net revenue to be in the range of $490 to $510 million and Adjusted EBITDA to be between $(20) million and $(10) million.