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.
Net revenue increased by 58.3% to $124.3 million compared to Q4 2018.
Gross margin improved to 47.7% compared to 34.2% in the prior year period.
Operating income was $2.8 million compared to an operating loss of $(5.2) million in the prior year period.
Net loss was $(12.7) million, impacted by a $13.4 million non-cash loss associated with the change in fair value of warrant liabilities.
The Company expects continued growth, driven by product innovation and marketing strategies.
Analyze how earnings announcements historically affect stock price performance