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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ROWAYTON, Conn.--(BUSINESS WIRE)--Coliseum Capital Partners, L.P. (“Coliseum”), the largest stockholder of Purple Innovation, Inc. (NASDAQ: PRPL) (“Purple”), announced today that it has nominated five candidates for election to Purple's seven member Board of Directors at the company's 2023 Annual Meeting of Stockholders, including Adam Gray, a current Purple director and Managing Partner and Co-Founder of Coliseum Capital Management, LLC.

Coliseum Nominates Slate of Highly Qualified and Engaged Director Candidates for Election at Purple Innovation 2023 Annual Meeting

LEHI, Utah , Feb. 8, 2023 /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 the pricing of an underwritten public offering by the Company of 13,400,000 shares of its Class A common stock, at a public offering price of $4.50 per share, before underwriting discounts and commissions. The underwriters have a 30-day option period to purchase up to 2,010,000 additional shares of Class A common stock from the Company at the public offering price, less underwriting discounts and commissions.

Purple Innovation, Inc. Announces Pricing of Upsized Public Offering of Class A Common Stock

LEHI, Utah , Feb. 8, 2023 /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 it intends to sell $50 million of its Class A common stock in an underwritten public offering. The Company intends to grant the underwriters a 30-day option to purchase up to $7.5 million of its shares of Class A common stock.

Purple Innovation, Inc. Announces Public Offering of Class A Common Stock

Purple Innovation (PRPL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Strength Seen in Purple Innovation (PRPL): Can Its 6.7% Jump Turn into More Strength?

Purple Innovation (PRPL) could produce exceptional returns because of its solid growth attributes.

Purple Innovation (PRPL) is an Incredible Growth Stock: 3 Reasons Why

LEHI, Utah , Jan. 30, 2023 /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 preliminary estimated results for the fiscal year ended December 31, 2022. The announcement comes in conjunction with the Company's participation in the Las Vegas Market trade show running from January 29, 2023 through January 31, 2023 at the World Market Center Las Vegas, where the Company plans to showcase its 2023 new premium product lineup and meet with analysts and investors.

Purple Innovation Announces Preliminary Estimated Fiscal 2022 Results in Conjunction with Presenting its New Premium Mattress Lineup at Las Vegas Market

Purple Innovation (PRPL) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

Despite Fast-paced Momentum, Purple Innovation (PRPL) Is Still a Bargain Stock

Mattress maker Purple Innovation Inc. PRPL, -0.17% said Thursday it is “disappointed” that within days of a special committee rejecting a bid for the company from Coliseum Capital Management LLC, the hedge fund is seeking to replace most of the board. “The Special Committee acknowledges that Coliseum, as a 44.7% shareholder of Purple, is entitled to reasonable representation on the Board, and notes that Coliseum's Managing Partner Adam Gray has served on the Board since the time that Purple went public in 2018,” the company said in a statement.

Mattress company Purple Innovation ‘disappointed' that hedge fund Coliseum wants to replace most of its board after making bid for company

LEHI, Utah , Jan. 19, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today responded to the amended Schedule 13D filed with the Securities and Exchange Commission by Coliseum Capital Management, LLC on January 17, 2023. The Special Committee of the Board of Directors provided the following statement: The Special Committee values Coliseum's investment in Purple and shares Coliseum's enthusiasm for, and confidence in, the Company's plan and management team.

Purple Innovation Special Committee of the Board Comments on Coliseum Capital Management's Amended 13D

Kerby Brings a Successful Track Record of Retail Operations and Revenue-Driving Strategies LEHI, Utah , Jan. 13, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced the appointment of Scott Kerby as its Chief of Owned Retail, effective January 16, 2023. Kerby will report to CEO Rob DeMartini and oversee all aspects of Purple's owned retail operations, an integral part of Purple's future growth and long-range plans.

PURPLE APPOINTS SCOTT KERBY AS CHIEF OF OWNED RETAIL

Special Committee of the Board Comprised of Independent Directors Unaffiliated with Coliseum Thoroughly Evaluated Coliseum's Proposal and Determined it is not in the Best Interests of the Company and its Shareholders LEHI, Utah , Jan. 12, 2023 /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 the Special Committee of the Purple Board of Directors (the "Special Committee") has rejected a $4.35 per share unsolicited, non-binding proposal (the "Proposal") from Coliseum Capital Management, LLC ("Coliseum") to acquire all of the outstanding stock of the Company it does not already own. Coliseum, which beneficially owns approximately 44% of Purple's outstanding shares, sent the Proposal to the Company on September 17, 2022.

Purple Innovation Rejects Unsolicited Proposal from Coliseum Capital Management

LEHI, Utah , Jan. 4, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple") the leader in comfort innovation and the creator of the renowned Purple® Mattress, today announced that the Company will make a presentation at the 2023 ICR Conference.  The presentation is scheduled for Monday, January 9, 2023 at 2:00 p.m.

Purple to Participate in 2023 ICR Conference

Purple Innovation (PRPL) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Purple Innovation (PRPL) Is Attractively Priced Despite Fast-paced Momentum

The mean of analysts' price targets for Purple Innovation (PRPL) points to a 75.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

How Much Upside is Left in Purple Innovation (PRPL)? Wall Street Analysts Think 75%

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Purple Innovation, Inc. (NASDAQ:PRPL ) Q3 2022 Earnings Conference Call November 9, 2022 4:30 PM ET Company Participants Cody McAlester - Investor Relations Bennett Nussbaum - Interim Chief Financial Officer & Treasurer Robert DeMartini - Chief Executive Officer Conference Call Participants Brad Thomas - KeyBanc Capital Markets Seth Basham - Wedbush Securities Bobby Griffin - Raymond James Brian Nagel - Oppenheimer Jeremy Hamblin - Craig-Hallum Capital Group Matt Koranda - ROTH Capital Atul Maheswari - UBS Operator Good afternoon, ladies and gentlemen. Welcome to Purple Innovation Third Quarter 2022 Earnings Conference Call.

Purple Innovation, Inc. (PRPL) Q3 2022 Earnings Call Transcript

Purple Innovation (PRPL) delivered earnings and revenue surprises of 150% and 3.40%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Purple Innovation (PRPL) Surpasses Q3 Earnings and Revenue Estimates

LEHI, Utah , Nov. 9, 2022 /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, 2022. Third Quarter Financial Summary (Comparisons versus Third Quarter 2021 and Second Quarter 2022) 1 Net revenue was $143.3 million, a decrease of 16.1% compared to 3Q21 and relatively flat compared to 2Q22.

Purple Innovation Reports Third Quarter 2022 Results

LEHI, Utah , Nov. 3, 2022 /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 2022 financial results on Wednesday, November 9, 2022, 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 2022 Results on November 9, 2022

Krausz Brings Significant Marketing Experience and a Track Record of Growing Revenue & EBITDA  LEHI, Utah , Oct. 18, 2022 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced the appointment of Keira Krausz as its Chief Marketing Officer, effective November 1, 2022. Krausz replaces Patrice Varni, who stepped down to pursue other interests.

Purple Appoints Keira Krausz as Chief Marketing Officer

Purple Innovation, Inc. runs a vertical brand for designing and manufacturing comfort products like mattresses, pillows, or frames. I believe that economies of scale from the upcoming Intellibed merger and potential synergies would justify a position in Purple Innovation stock.

Purple Innovation: I Believe That The Stock Is Worth Much More

Shares of Purple Innovation Inc. PRPL, +2.30% sank 4.5% in premarket trading Monday, after the mattress maker said it adopted a shareholders rights plan, in an effort to buy time to evaluate the unsolicited buyout bid by large shareholder Coliseum Capital Management LLC. The rights plan, also known as a "poison pill," was adopted on Sept.

Purple Innovation stock falls after adopting 'poison pill' in response to unsolicited buyout bid from large shareholder

Adopts Limited-Duration Shareholder Rights Plan LEHI, Utah , Sept. 26, 2022 /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 its Board of Directors (the "Board"), in response to an unsolicited and non-binding proposal (the "Coliseum Proposal") from Coliseum Capital Management, LLC (together with certain of its funds and managed accounts, "Coliseum") on September 17, 2022 to acquire all of the outstanding capital stock of the Company it does not already own for $4.35 per share in cash, has formed a special committee of independent and disinterested directors (the "Special Committee") and the Special Committee has approved the adoption of a limited-duration shareholder rights plan (the "Rights Plan").

Purple Innovation Announces Formation of Special Committee to Evaluate Unsolicited Takeover Proposal from Coliseum Capital Management

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