Financial Performance - Purple Innovation reported a quarterly loss of $0.11 per share, better than the Zacks Consensus Estimate of a loss of $0.14, and an improvement from a loss of $0.19 per share a year ago, representing an earnings surprise of 21.43% [1] - The company posted revenues of $104.17 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.13%, and down from $120.03 million in the same quarter last year [2] - Over the last four quarters, Purple Innovation has surpassed consensus EPS estimates three times [2] Stock Performance - Purple Innovation shares have declined approximately 14.9% since the beginning of the year, compared to a decline of 3.9% for the S&P 500 [3] - The current Zacks Rank for Purple Innovation is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.09 on revenues of $112.75 million, and for the current fiscal year, it is -$0.30 on revenues of $471.52 million [7] - The trend of estimate revisions for Purple Innovation is mixed, which could change following the recent earnings report [6] Industry Context - Purple Innovation operates within the Consumer Products - Staples industry, which is currently ranked in the bottom 27% of over 250 Zacks industries, indicating potential challenges ahead [8]

Purple Innovation (PRPL) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Stacy Turnof - EVP - Strategic Situations & Investor RelationsRobert DeMartini - CEO & DirectorTodd Vogensen - Chief Financial OfficerBobby Griffin - Managing Director Conference Call Participants Bradley Thomas - Managing Director & Equity Research AnalystDan Silverstein - Equity Research AnalystBrian Nagel - MD & Senior Analyst - Consumer Growth & eCommerceNone - Analyst Operator Ladies and gentlemen, thank you fo ...

Purple Innovation (PRPL) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Speaker0 Ladies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this time, I would like to welcome everyone to the Purple Innovation First Quarter twenty twenty five Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer I would now like to turn the conference over to Stacy Turnoff. ...

Exhibit 99.1 Purple Innovation Reports First Quarter 2025 Results; Reaffirms 2025 Guidance Exceeded Q1 Adjusted EBITDA Target; Delivered Q1 Sales Consistent with Guidance GAAP Gross Margin of 39.4% in Q1; Adjusted Gross Margin Above 40% for Fourth Consecutive Quarter Lehi, Utah, May 6, 2025 – 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 first quarter ended March 31, 2025. "Our fir ...

Financial Performance - Total revenues for the three months ended March 31, 2025, were $104,171,000, a decrease of 13.2% compared to $120,033,000 for the same period in 2024[12]. - Gross profit for the first quarter of 2025 was $41,046,000, slightly down from $41,720,000 in the prior year, resulting in a gross margin of 39.4%[12]. - The net loss for the three months ended March 31, 2025, was $19,166,000, compared to a net loss of $50,268,000 for the same period in 2024, indicating a significant improvement[12]. - The company reported a basic net loss per share of $0.18 for the first quarter of 2025, an improvement from a loss of $0.47 per share in the prior year[12]. - The company reported a net loss of $19.1 million for the three months ended March 31, 2025, compared to a net loss of $50.2 million for the same period in 2024, resulting in a basic and diluted net loss per share of $0.18[136]. - Net revenues decreased by $15.9 million, or 13.2%, to $104.2 million for the three months ended March 31, 2025, compared to $120.0 million for the same period in 2024[203]. - Gross profit decreased by $0.7 million, or 1.6%, to $41.0 million, with a gross profit percentage increase to 39.4% from 34.8% year-over-year[204]. - Operating expenses for the first quarter of 2025 were $55,525,000, down from $64,856,000 in the same period of 2024, reflecting a reduction in marketing and administrative costs[12]. - Operating expenses decreased by $9.3 million, or 14.4%, to $55.5 million, driven by reductions in employee-related expenses and legal fees[205]. - Other expense, net decreased by $22.4 million, or 82.8%, to $4.6 million, with a net loss attributable to Purple Inc. of $19.1 million, down from $50.2 million in the prior year[206]. Cash Flow and Liquidity - Cash and cash equivalents decreased to $21,627,000 as of March 31, 2025, from $29,011,000 at the end of 2024, reflecting a cash outflow of $7,384,000 during the quarter[17]. - Cash flows from operating activities resulted in a net cash outflow of $23,070,000 for the first quarter of 2025, compared to an outflow of $16,814,000 in the same period of 2024[17]. - The company expects to have sufficient liquidity to fund its operations for at least one year from the date of the quarterly report[29]. - The company has taken additional cost-saving initiatives in the first quarter of 2025 to maintain liquidity to support its operations and strategies[28]. Assets and Liabilities - Total current assets decreased to $113,401,000 as of March 31, 2025, down from $126,368,000 at December 31, 2024, primarily due to reductions in cash and accounts receivable[10]. - Total liabilities increased to $292,442,000 as of March 31, 2025, compared to $287,636,000 at December 31, 2024, driven by an increase in related party debt[10]. - The company’s total stockholders' equity attributable to Purple Innovation, Inc. decreased to $1,340,000 as of March 31, 2025, from $20,198,000 at December 31, 2024, primarily due to the net loss incurred[10]. - The Related Party Loan increased to $93.4 million as of March 31, 2025, up from $70.7 million at the end of 2024, with a total debt net of issuance costs at $72.7 million[69][70]. Restructuring and Operational Changes - The company recognized total restructuring, impairment, and other related charges of $39.2 million, including $2.9 million during the three months ended March 31, 2025[40]. - The restructuring plan includes the permanent closure of two manufacturing facilities in Utah and a headcount reduction at the Utah headquarters, aimed at improving operational efficiencies[38]. - The company implemented a Restructuring Plan in August 2024 to consolidate manufacturing operations and create efficiencies, with expected completion of facility closures by the end of Q2 2025[38]. - The company expects to incur an additional $1.4 million in restructuring-related charges through the second quarter of 2025[204]. - The closure of two Utah manufacturing facilities is projected to be completed in Q2 2025, consolidating production in Georgia[178]. Revenue Streams - Direct-to-consumer (DTC) e-commerce revenue was $45.4 million, down 8.4% from $49.5 million in the prior year, while showroom revenue increased by 7.4% to $18.0 million[57]. - Wholesale revenue decreased significantly by 24.2% to $40.8 million from $53.8 million year-over-year[57]. - The showrooms channel net revenue increased by $1.2 million, or 7.4%, representing an 11.0% year-over-year increase for stores open for 13 months or more[203]. - Q1 2025 revenue decreased due to softness in e-commerce and wholesale channels, while showroom revenue increased for the second consecutive quarter[175]. Inventory and Costs - Total inventories increased to $60.2 million as of March 31, 2025, compared to $56.9 million at the end of 2024, with finished goods rising to $37.8 million[59]. - The cost of revenues for the same period was $62.207 million, down from $78.313 million, reflecting a reduction of 20.5%[154]. - Approximately 15% of the company's cost of goods is tied to overseas products, with an estimated annual cost impact of $10 million due to current tariff rates[202]. Legal and Compliance Matters - The Company is involved in various legal proceedings, including a class action lawsuit alleging website accessibility violations under the ADA[109][110]. - The Company intends to vigorously defend against claims related to unpaid salaries and tax distributions, with potential damages of $500,000 and $3 million respectively[103][104]. Stock and Equity - The Company has 210 million shares of Class A common stock authorized, with 108 million shares outstanding as of March 31, 2025[114]. - The Company has 90 million shares of Class B common stock authorized, with 0.2 million shares outstanding as of March 31, 2025[115]. - The company issued 20.0 million warrants to lenders and an additional 6.2 million warrants in connection with the 2025 Amendment, each warrant allowing the purchase of one share of Class A common stock at a price of $1.50[126]. - The effective interest rate for the Related Party Loan and First Incremental Loan was 14.68% for Q1 2025, down from 15.68% in Q1 2024[83]. Future Outlook - The company plans to expand its product inventory across Mattress Firm's national store network from approximately 5,000 to a minimum of 12,000 mattress slots[28]. - The company expects to generate approximately $70 million in incremental net revenue starting in 2026 from the expansion of product inventory in Mattress Firm stores from 5,000 to 12,000 slots[177]. - The new Rejuvenate 2.0 line will be launched in Q2 2025, featuring innovative grid technology for enhanced comfort[176]. - The new Rejuvenate 2.0 collection is set to launch in Q2 2025, with a full wholesale rollout expected by Q3 2025[208].

Agreements meaningfully increase Purple's footprint in Mattress Firm stores nationwide and provide Purple with strategic supply support from Tempur Sherwood Bolsters Mattress Firm's position as a multi-branded retailer offering customers more choice and value, while enabling Somnigroup to participate in Purple's future success Purple secures substantial new debt financing to support expansion with Mattress Firm and continued investments in innovation and advertising LEHI, Utah, May 6, 2025 /PRNewswire/ -- P ...

LEHI, Utah, May 2, 2025 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," will report first quarter 2025 financial results on Tuesday, May 6, 2025 at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results.Investors and analysts interested in participating in the call are invited to dial 800-715-9871 (domestic) or 646-307-1963 (inter ...

Overview of Purple Innovation LLC - Purple Innovation LLC was founded by the Pearce brothers, Tony and Terry, in 2015, and is known for its innovative mattresses utilizing Hyper-Elastic Polymer material [3][4] - The company has disrupted the traditional mattress industry with its unique approach to comfort and support, offering a range of products that include the Essential, Restore Hybrid, and Rejuvenate Luxe collections [6][20] Product Features and Technology - The patented GelFlex Grid is a key feature of Purple mattresses, designed to provide support, pressure relief, and cooling benefits, with claims of reducing pain and stiffness by up to 40% [9][10] - Purple mattresses include over 1,400 air channels for enhanced breathability, allowing for effective heat dissipation and a cooler sleep experience [11] - The construction includes multiple layers, such as edge foam for support, comfort foam for body conformity, and support foam to minimize motion transfer, resulting in 21% more edge support compared to traditional memory foam mattresses [12][13] Customer Experience and Feedback - Customer reviews indicate a high level of satisfaction, with many praising the comfort and cooling features of Purple mattresses, particularly for side and back sleepers [18][51] - The company offers a 100-night sleep trial and a 10-year warranty, allowing customers to assess the mattress's suitability [20][22] - Some customers have reported issues with support for heavier individuals and have noted that the price point may be a barrier for some [19][21] Competitive Landscape - Purple mattresses are positioned against competitors like DreamCloud, Nectar, and Awara, each offering unique features and pricing structures [28][30] - The pricing for Purple mattresses ranges from $999 for the Purple Flex to $7,495 for the Rejuvenate Premier, reflecting a premium positioning in the market [29] Conclusion - Purple Innovation LLC continues to innovate within the mattress industry, focusing on comfort, support, and cooling technology, while maintaining a strong customer satisfaction rating and competitive warranty offerings [51][52]

Purple Innovation (PRPL) Q4 2024 Earnings Call March 14, 2025 01:36 AM ET Company Participants Stacy Turnof - Senior Vice PresidentRobert DeMartini - CEO & DirectorTodd Vogensen - Chief Financial OfficerBobby Griffin - Managing Director Conference Call Participants Matthew Koranda - MD & Senior Research AnalystBrian Nagel - MD & Senior Analyst - Consumer Growth & eCommerceJeremy Hamblin - Senior Research Analyst Operator Thank you for joining Purple Innovation's Fourth Quarter twenty twenty four Earnings Ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as ...