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Purple Innovation Inc - PRPL STOCK NEWS

Welcome to our dedicated news page for Purple Innovation (Ticker: PRPL), a resource for investors and traders seeking the latest updates and insights on Purple Innovation.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Purple Innovation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Purple Innovation's position in the market.

News
Inducement Grants to Executive Officers
Rhea-AI Summary
Purple Innovation, Inc. announces that CFO Todd Vogensen and CLO Tricia McDermott received inducement grants in the form of performance share units and restricted share units. These grants were delayed until the post-2024 earnings call open window period and are contingent on stock price performance targets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4%
Tags
none
-
News
Purple Innovation to Present at the 36th Annual ROTH Conference
Rhea-AI Summary
Purple Innovation, Inc. (NASDAQ: PRPL) announces participation in the 36th Annual ROTH Conference with a fireside chat presentation scheduled for March 18, 2024. The event will be broadcast online, offering investors insights into Purple's future strategies and innovations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.64%
Tags
conferences
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News
Purple Innovation Reports Fourth Quarter and Full Year 2023 Results
Rhea-AI Summary
Purple Innovation, Inc. projects mid to high single-digit percentage revenue growth in 2024 with positive adjusted EBITDA in the second half of the year. The fourth quarter of 2023 showed positive signs with net revenue increasing by 1.1%, driven by new product launches and increased advertising spend. However, full year 2023 saw a decrease in net revenue by 10.9% compared to 2022, attributed to soft demand for home-related goods. Despite challenges, Purple is focusing on strategic initiatives for long-term growth and profitability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-18.63%
Tags
earnings
News
PURPLE INNOVATION AND TEMPUR SEALY INTERNATIONAL REACH AGREEMENT
Rhea-AI Summary
Purple Innovation, Inc. announces a settlement agreement with Tempur Sealy International, Inc. regarding a post-acquisition framework for a partnership with Mattress Firm Inc. Purple reaffirms its patent and trademark rights for its Hyper-Elastic Polymer gel material. The agreement ensures Purple's continued relationship with Mattress Firm for at least twelve months.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-18.63%
Tags
none
-
News
Purple to Report Fourth Quarter and Full Year 2023 Results on March 12, 2024
Rhea-AI Summary
Purple Innovation, Inc. (NASDAQ: PRPL) will release its fourth quarter and full year 2023 financial results on March 12, 2024. A conference call will follow to discuss the results. Investors can participate via phone or webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
16%
Tags
conferences earnings
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News
Purple Innovation Strengthens Balance Sheet, Creating Greater Financial Flexibility to Execute Growth Strategy
Rhea-AI Summary
Purple Innovation, Inc. has completed a refinancing to provide greater financial flexibility and has reaffirmed its 2023 guidance. The company's net liquidity has increased from $26 million to $48 million, and it issued warrants to the lenders to purchase 20 million shares of the company's Class A common stock at a price of $1.50 per share. Purple embarked on its 'Path to Premium Sleep' strategy in 2023, aiming to improve long-term growth prospects and competitiveness. The company anticipates that fourth quarter Net Revenue and Adjusted EBITDA will be within its guidance range and expects incremental improvements in EBITDA and cash flow in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
25.46%
Tags
none
News
Casper Sleep Inc. Appoints Joe Megibow as CEO
Rhea-AI Summary
Casper Sleep Inc. appoints Joe Megibow as CEO to lead the company into its next phase of growth, succeeding outgoing CEO Emilie Arel. Megibow brings extensive industry experience and a vision for significant growth. The company is well-capitalized and poised for expansion with recent strategic partnerships. Casper is gearing up for a new and innovative mattress rollout next month, reflecting the most up-to-date needs of customers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
management
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News
Purple Innovation to Present at the 2024 ICR Conference
Rhea-AI Summary
Purple Innovation, Inc. (NASDAQ: PRPL) announced their participation in the 2024 ICR Conference, with a fireside chat presentation scheduled for Monday, January 8, 2024 at 2:00 p.m. Eastern Time. The presentation will be broadcast on the internet and available at https://investors.purple.com/.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.3%
Tags
conferences
-
News
Purple Announces Positive Black Friday/Cyber Monday Weekend Selling Period and Reiterates 2023 Full Year Outlook Ahead of Investor Conferences
Rhea-AI Summary
Purple Innovation, Inc. (PRPL) has announced positive year-over-year sales results for the Black Friday through Cyber Monday period, reiterating its 2023 full year outlook. The company achieved high teens and high single-digit sales gains in its showroom and eCommerce channels, respectively. Purple expects net revenue to be in the range of $510 to $520 million for 2023 with negative adjusted EBITDA between $(65) million and $(55) million. The company is participating in the Raymond James TMT & Consumer Conference on December 5 and ROTH MKM Deer Valley Conference on December 14.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.97%
Tags
none
News
Purple Introduces Two New Pillows That Offer Deeper Sleep Through Customization and Portability
Rhea-AI Summary
Purple Innovation, Inc. (NASDAQ: PRPL) announced the launch of two new pillows, Purple Harmony™ Anywhere and Freeform™, featuring the brand's signature GelFlex® Grid. The pillows aim to provide customized comfort and support for deep, restorative sleep. The company's mission is to make deep sleep effortless, addressing the common issue of dissatisfaction with current pillows. The pillows are available for purchase nationwide at www.Purple.com, with the Harmony Anywhere priced at $149 and Freeform at $199 for standard size and $239 for king size.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.1%
Tags
none
Stock PRPL logo
Purple Innovation Inc

Nasdaq:PRPL

PRPL Rankings

#3928 Ranked by Market Cap
#5185 Ranked by Stock Gains
N/A Ranked by Dividends

PRPL Stock Data

179.77M
55.34M
3.85%
77.16%
5.42%
Wood Kitchen Cabinet and Countertop Manufacturing
Manufacturing
Link
United States
Lehi

About PRPL

purple exists to help people feel better. from our innovative comfort technology to our entertainingly informative advertising, we strive to bring relief from the discomfort, the boring, the outdated, and the mundane. ultimately, we endeavor to change the lives of one billion people with our revolutionary smart comfort grid™. it all started with two brothers and a dream. tony pearce, an aeronautical engineer, and terry pearce, a distinguished engineer, set out to make the world a more comfortable place. they began their journey in 1989 with carbon fiber sporting goods and wheelchairs, then quickly learned that what the world really needed was better cushioning material. within just a few years, the smart comfort grid™ was born. with dozens of trademarks and patents, the pearce brothers’ life-changing technologies appeared in critical-care hospital beds, medical devices, shoes, toys, backpacks, and so much more. over the decades, the pearces perfected both the technology and the manufac