LEHI, Utah, July 25, 2024 /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 2024 financial results on Monday, August 5, 2024, 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 (844) 825-9789 (domestic) or (412) 317- ...

Financial Data and Key Metrics Changes - The first quarter of 2024 saw net revenue of $120 million, a 12.5% increase year-over-year from $106.7 million in the previous year, driven by positive responses to new products and easier comparisons from the prior year [20][48] - Gross profit was $41.7 million, with a gross margin rate of 34.8%, down from 38% the previous year, impacted by a shift in revenue composition towards wholesale [50][77] - Adjusted net loss for the quarter was $20.4 million compared to an adjusted net loss of $14 million last year, with adjusted EBITDA at negative $13.2 million versus negative $7.1 million a year ago [52][39] Business Line Data and Key Metrics Changes - Direct-to-consumer (DTC) revenue was flat year-over-year, with showroom revenues increasing by 11% due to higher average selling prices and a shift towards the Luxe collection [22][49] - E-commerce sales declined by 4%, attributed to price testing and promotional changes as the company adjusts its e-commerce strategy [24][11] - Wholesale revenue increased by 33%, representing 45% of total revenues, supported by improved revenue per door and a mix shift towards premium products [31][40] Market Data and Key Metrics Changes - The company reported that more than 56% of showroom locations open for over 12 months had positive comps, indicating a recovery in showroom performance [23] - The overall industry is experiencing sluggish growth, with estimates suggesting a decline of 5% to 10% in the category, which has not provided a favorable environment for growth [110] Company Strategy and Development Direction - The company is focusing on five key initiatives for long-term profitable market share gains, including improving showroom productivity, enhancing e-commerce conversion, driving gross margin improvement, and increasing marketing efficiency [42][46] - A commitment to innovation is emphasized, with plans to maintain a robust product pipeline and enhance brand strength through new marketing campaigns [28][41] - The company aims to manage costs aggressively while seeking efficiencies in operations, sourcing, and manufacturing [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving financial targets for 2024, despite acknowledging ongoing industry challenges [29][66] - The company anticipates modest growth in Q2, driven by seasonal factors, but expects to face headwinds from the broader industry environment [66][67] - Management highlighted the importance of improving marketing messaging to better communicate product benefits and drive consumer engagement [84] Other Important Information - Cash and cash equivalents at the end of March were $34.5 million, up from $26.9 million at the end of the previous year, indicating improved liquidity [53] - The company has renegotiated several leases and is managing payroll and store expenses to enhance profitability [25] Q&A Session All Questions and Answers Question: Insights on sales expectations for Q2 - Management indicated that Q2 is typically stronger seasonally, but they expect growth rates to be modest compared to the 12.5% increase in Q1, while continuing to take market share in a challenging industry [66][67] Question: Clarification on pricing actions - The company implemented a modest price increase of about 4% in January, which took effect in March for the wholesale channel, aimed at aligning with competitive benchmarks [60] Question: Discussion on e-commerce performance and adjustments - Management acknowledged challenges in e-commerce conversion rates and indicated ongoing adjustments to pricing and promotions to drive profitable growth [71][111]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____________ TO _____________ Commission File Number: 001-37523 PURPLE INNOVATION, INC. (Exact name of registrant as specified in its charter) | Delaware | 47-4078206 | | ...

Exhibit 99.1 Purple Innovation Reports First Quarter 2024 Results Lehi, Utah, May 7, 2024 – Purple Innovation, Inc. (NASDAQ: PRPL), a comfort innovation company known for creating the "World's First No Pressure ™ Mattress," today announced results for the first quarter ended March 31, 2024, which were in line with guidance. First Quarter Financial Summary (Comparisons versus First Quarter 2023) Chief Executive Officer, Rob DeMartini, said "We are encouraged by our start to the year as our first quarter perf ...

Purple Innovation, Inc. (NASDAQ:PRPL) Q4 2023 Earnings Conference Call March 12, 2024 4:30 PM ET Company Participants Brendon Frey - ICR Robert DeMartini - Chief Executive Officer Todd Vogensen - Chief Financial Officer Conference Call Participants Bradley Thomas - KeyBanc Capital Markets Seth Basham - Wedbush Securities Jeremy Hamblin - Craig-Hallum Capital Group Robert Griffin - Raymond James Matthew Koranda - ROTH Capital MKM Daniel Silverstein - UBS Operator Good afternoon, ladies and gentlemen. Welcome ...

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, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-37523 PURPLE INNOVATION, INC. (Exact name of registrant as specified in its charter) Delaware 47-4078206 (State o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____________ TO _____________ Commission File Number: 001-37523 PURPLE INNOVATION, INC. (Exact name of registrant as specified in its charter) | Delaware | 47-4078206 ...

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, ...

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, ladi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____________ TO _____________ Commission File Number: 001-37523 PURPLE INNOVATION, INC. (Exact name of registrant as specified in its charter) Delaware 47-4078206 (State o ...