Purple Innovation

Purple Innovation, Inc. engages in the design and manufacture of comfort technology products. It offers mattresses, bed pillows, seat cushions, mattress protector, and bamboo sheets. The company was founded by Terry V. Pearce and Tony Marion Pearce in 1989 and is headquartered in Lehi, Utah.

Earnings data Q1 2021

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Purple Innovation reports Q4 revenue decline but positions for growth

Purple Innovation's Q4 2022 performance reflected revenue decline but improved cost management and operational efficiencies, positioning the company for future growth.
Strategic initiatives like cost reduction, leadership team additions, and product expansion present strengths for market competitiveness and revenue enhancement.
Challenges in revenue guidance, industry conditions, and promotional strategies require careful navigation, balanced with opportunities in product growth and margin improvement.
Overall, Purple Innovation aims for sequential improvement in 2023 through new product launches, marketing strategies, and operational optimizations, focusing on sustainable growth.

Purple Innovation reports Q1 revenue decline but improves margins

Purple Innovation navigated a challenging Q1 with revenue decline but improved gross margins and better-than-expected adjusted EBITDA. The company's strategic plan focuses on product innovation, brand enhancement, and showroom expansion to drive future growth. Despite inventory challenges and lower-than-expected performance, Purple Innovation remains optimistic about its positioning and market differentiation.

Purple Innovation reports strong Q2 performance amidst revenue challenges

Purple Innovation's Q2 performance reflects growth in net revenue, positive consumer feedback on new products, and a focus on premium offerings.
While facing challenges in revenue performance and operational efficiencies, the company remains confident in its growth strategy and future opportunities.
Adjustments in financial guidance and concerns from analysts highlight the need for strategic adjustments to navigate industry softness and achieve profitability targets.
Effective inventory management, strong consumer reception, and consistent media planning position Purple Innovation for potential sales growth and market expansion.

Purple Innovation reports Q3 growth, eyes profitability by 2024

Purple Innovation's Q3 showed revenue growth and increased brand interest, but profitability was impacted by transition costs. The company is focusing on refining strategies to achieve profitability by 2024.
Despite challenges like price pressure and inventory management, Purple is leveraging strengths in premium products and partnerships to drive growth. Opportunities lie in margin enhancement and product category expansion.
With a clear roadmap to profitability, Purple is navigating market challenges while capitalizing on its strengths and exploring avenues for growth and margin improvement.

Purple Innovation reports Q4 growth, eyes revenue rebound in 2024

Purple Innovation's Q4 performance showed revenue growth and positive EBITDA.
Despite revenue decline in 2023, the company is optimistic about 2024 targets.
Challenges include margin pressures and the need for effective execution.
Opportunities lie in revenue growth, margin improvement, and new initiatives.

Purple Innovation reports solid Q1 growth, eyes e-commerce expansion

Purple Innovation is focused on driving long-term profitable market share gains through various initiatives. Management is confident in achieving financial targets for the year and aims for sustained profitable growth as a premium sleep brand.

Purple Innovation reports mixed Q2 results, focuses on profitability

Purple Innovation's Q2 2024 performance showed mixed results with sales growth in showrooms but decline in e-commerce revenue. Despite challenges, the company demonstrated improvements in gross margins and adjusted EBITDA. Strategic shifts towards profitability and operational enhancements were highlighted.

Purple Innovation navigates revenue challenges with operational efficiency and savings

Purple Innovation faced revenue challenges in Q3 but made significant strides in operational efficiency and gross margin improvement.
The company's restructuring efforts are expected to drive substantial EBITDA savings, supporting a path to positive cash flow in 2025.
Despite short-term hurdles, Purple Innovation remains confident in its long-term business model and premium market positioning.

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Purple Innovation, Inc. (PRPL) Q4 2023 Earnings Call Transcript

Purple Innovation (PRPL) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.10 per share a year ago.

Purple Innovation (PRPL) Reports Q4 Loss, Tops Revenue Estimates

Company Projecting Mid to High Single Digit Percentage Revenue Growth in 2024 with Positive Adjusted EBITDA in the Second Half of the Year LEHI, Utah , March 12, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure ™ Mattress," today announced results for the fourth quarter and year ended December 31, 2023. Fourth Quarter Financial Summary (Comparisons versus Fourth Quarter 2022 and Third Quarter 2023) 1 Net revenue was $145.9 million, an increase of 1.1% compared to 4Q22 and an increase of 4.2% compared to 3Q23.

Purple Innovation Reports Fourth Quarter and Full Year 2023 Results

Framework for Mattress Firm Partnership and Confirmation of Purple's Patents LEHI, Utah , March 12, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that it has entered into a settlement agreement with Tempur Sealy International, Inc. ("Tempur Sealy"). The parties have agreed to a post-acquisition framework for Purple's partnership with Mattress Firm Inc. ("Mattress Firm"), the nation's largest mattress specialty retailer, subject to FTC approval of TSI's acquisition of Mattress Firm, and amicably resolved their various intellectual property disputes.

PURPLE INNOVATION AND TEMPUR SEALY INTERNATIONAL REACH AGREEMENT

LEHI, Utah , Feb. 27, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report fourth quarter and full year 2023 financial results on Tuesday, March 12, 2024, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m.

Purple to Report Fourth Quarter and Full Year 2023 Results on March 12, 2024

Company Reaffirms 2023 Guidance and Provides Update on Efforts to Accelerate Revenue Growth and EBITDA Improvement LEHI, Utah , Jan. 23, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced that it has completed a refinancing that will provide the Company with significantly greater financial flexibility to execute its growth strategy and build on recent business improvements. Coliseum Capital Management, LLC and No Street Capital, LLC, through certain funds and accounts, have assumed the Company's two primary outstanding debt facilities – an ABL credit agreement and a term loan credit agreement – from the Company's previous lenders.

Purple Innovation Strengthens Balance Sheet, Creating Greater Financial Flexibility to Execute Growth Strategy

LEHI, Utah , Jan. 3, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that the management team is participating in the 2024 ICR Conference. A fireside chat presentation is scheduled for Monday, January 8, 2024 at 2:00 p.m.

Purple Innovation to Present at the 2024 ICR Conference

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Company Participating in Raymond James TMT & Consumer Conference on December 5 and ROTH MKM Deer Valley Conference on December 14 LEHI, Utah , Dec. 4, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced positive year-over-year sales results for the Black Friday through Cyber Monday period (November 24-27, 2023) and reiterated its 2023 full year outlook. "The momentum that has been building in our business since the launch of our Path to Premium Sleep strategy earlier this year has accelerated in the fourth quarter, most notably over the key Black Friday / Cyber Monday long weekend," said Chief Executive Officer Rob DeMartini.

Purple Announces Positive Black Friday/Cyber Monday Weekend Selling Period and Reiterates 2023 Full Year Outlook Ahead of Investor Conferences

The New Purple Harmony™ Anywhere and Freeform™ Pillows Further the Leading Brand's Mission to Make Deep Sleep Effortless SALT LAKE CITY , Nov. 14, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) (" Purpl e "), the world leader and inventor of the GelFlex® Grid and holder of over 150 patents, today announced an extension to its pillow line with two new offerings: Purple Harmony™ Anywhere, a travel sized version of the best-selling Harmony pillow; and Freeform™, a customizable pillow. These new pillows join the selection of Purple's wildly popular pillow line featuring the brand's signature GelFlex® Grid, which is engineered to alleviate aches and balance temperature.

Purple Introduces Two New Pillows That Offer Deeper Sleep Through Customization and Portability

Purple Innovation, Inc. (NASDAQ:PRPL ) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Cody McAlester - Investor Relations Rob DeMartini - Chief Executive Officer Todd Vogensen - Chief Financial Officer Conference Call Participants Brad Thomas - KeyBanc Capital Markets Seth Basham - Wedbush Securities Jeremy Hamblin - Craig-Hallum Capital Group Bobby Griffin - Raymond James Atul Maheswari - UBS Keith Hughes - Truist Securities Matt Koranda - ROTH MKM Operator Good afternoon, ladies and gentlemen. Welcome to Purple Innovation Third Quarter 2023 Earnings Conference Call.

Purple Innovation, Inc. (PRPL) Q3 2023 Earnings Call Transcript

Third Quarter Revenue Increased 19% Sequentially vs. Second Quarter and Just Short of Year Ago New Product Transition Costs Temporarily Weighing on Margins Company Expecting Return to Year-over-Year Revenue Growth in the Fourth Quarter LEHI, Utah , Nov. 9, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure ™ Mattress," today announced results for the third quarter ended September 30, 2023.

Purple Innovation Reports Third Quarter 2023 Results

Purple Innovation's (PRPL) third-quarter 2023 sales results are likely to reflect gains from the innovative product line, brand development and expansion initiatives.

Purple Innovation (PRPL) Q3 Earnings Coming Up: What to Expect

BOSTON--(BUSINESS WIRE)--Black Friday sales researchers at Consumer Articles reveal the early Black Friday 2023 offers on Purple mattresses, bed frames, pillows & bedding.

Purple Mattress Black Friday (2023): Round-up of Early Mattress & Hybrid Mattress Offers & More Shared by Consumer Articles

LEHI, Utah , Nov. 1, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), the leader in groundbreaking sleep technology and inventor of the GelFlex ®, Grid and BioFi, the creator of the innovative wellness and sleep monitoring device, RemWave, today announced a partnership to make restorative sleep more accessible to millions of customers. This partnership makes Purple the first-to-market distributor for the most advanced non-wearable sleep device available today.

Purple Innovation and RemWave Announce Partnership

LEHI, Utah , Oct. 24, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report third quarter 2023 financial results on Thursday, November 9, 2023, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m.

Purple to Report Third Quarter 2023 Results on November 9, 2023

McDermott Brings a Successful Track Record of Leading Legal Departments and Driving Intellectual Property Transactions at Several Multibillion Dollar Retail Brands LEHI, Utah , Sept. 27, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), the world leader in sleep innovation and inventor of GelFlex® Grid Technology, today announced the appointment of Tricia McDermott as its Chief Legal Officer, effective October 23, 2023.

PURPLE APPOINTS TRICIA MCDERMOTT AS CHIEF LEGAL OFFICER

Vogensen Brings a Successful Track Record Driving Results at Multi-Billion Dollar Retailers LEHI, Utah , Sept. 21, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), the world leader in sleep innovation and inventor of GelFlex® Grid Technology, today announced the appointment of Todd Vogensen as its Chief Financial officer, effective October 16, 2023.

PURPLE APPOINTS TODD VOGENSEN AS CHIEF FINANCIAL OFFICER

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During a quarter when it launched a new product suite, both top- and bottom-line results were disappointing. The company also cut guidance due to industry weakness.

Why Purple Innovation Stock Was Sinking Today

Purple Innovation, Inc. (NASDAQ:PRPL ) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Brendon Frey – Managing Director-ICR Rob DeMartini – Chief Executive Officer Bennett Nussbaum – Chief Financial Officer Conference Call Participants Brad Thomas – KeyBanc Capital Markets Brian Nagel – Oppenheimer Jeremy Hamblin – Craig-Hallum Capital Group Seth Basham – Wedbush Securities Matt Koranda – ROTH MKM Bobby Griffin – Raymond James Atul Maheswari – UBS Operator Good afternoon, ladies and gentlemen. Welcome to the Purple Innovation Second Quarter 2023 Earnings Conference Call.

Purple Innovation, Inc. (PRPL) Q2 2023 Earnings Call Transcript

Largest Product Introduction Points Business in the Right Direction LEHI, Utah , Aug. 9, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced results for the second quarter ended June 30, 2023. Second Quarter Financial Summary (Comparisons versus Second Quarter 2022) 1 Net revenue decreased 16.1% to $120.9 million compared to $144.1 million.

Purple Innovation Reports Second Quarter 2023 Results

Purple Innovation's (PRPL) Q2 results are likely to reflect gains from the innovative product line and efforts to reduce costs amid inflationary pressures and a demand shift.

Factors Likely to Drive Purple Innovation's (PRPL) Q2 Earnings

LEHI, Utah , Aug. 2, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report second quarter 2023 financial results on Wednesday, August 9, 2023, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m.

News for Purple Innovation Stock (PRPL)