Purple Innovatio Stock Price, News & Analysis

Purple Innovation, Inc. (NASDAQ: PRPL) reported strong fourth quarter and full year 2020 results. Fourth quarter net revenue rose 39.9% to $173.9 million, driven by a 57% increase in Direct-to-Consumer (DTC) sales. Gross margin was 47.2%, slightly down from 47.7%. Operating income surged 171.1% to $7.5 million, while the net loss narrowed to $(2.1) million. For the full year, revenue climbed 51.4% to $648.5 million, with adjusted net income at $49.6 million. The company expects 2021 revenue between $840 to $880 million.

Purple Innovation, Inc. (NASDAQ: PRPL) will release its fourth quarter 2020 financial results on March 4, 2021, at 7:00 a.m. ET. A conference call for analysts and investors will follow at 8:30 a.m. ET. Participants can dial (877) 425-9470 (domestic) or (201) 389-0878 (international) with Conference ID: 13716791. The call will also be accessible via a live webcast on Purple's investor relations site. A replay will be available until March 18, 2021, by calling (844) 512-2921 (domestic) or (412) 317-6671 (international).

Purple Innovation, Inc. (NASDAQ: PRPL) announced its participation in the 2021 ICR Conference, scheduled for January 11, 2021, at 2:30 p.m. Eastern Time. The presentation will be available online. Additionally, Purple's shares of Class A common stock began trading on The NASDAQ Global Market effective January 8, 2021, marking significant business growth. Purple is known for its innovative comfort products, including the Purple® Mattress, and utilizes patented technology for its offerings.

Purple Innovation, Inc. (NASDAQ: PRPL) announced key board appointments to enhance its growth strategy. Dawn Zier has joined the Board of Directors, while Paul Zepf has been promoted to Chairman. These changes follow the retirement of previous board members Terry and Tony Pearce. Zier brings extensive experience in digital marketing and business transformation, having previously served as President and CEO of Nutrisystem. Zepf, a director since August 2020, has a strong background in strategic initiatives and corporate governance. These appointments are aimed at accelerating Purple's growth trajectory in the competitive sleep market.

Purple Innovation, Inc. (NASDAQ: PRPL) announced that as of November 19, 2020, approximately 9,828,000 Public Warrants and all Incremental Loan Warrants have been exercised since October 27, 2020. The company plans to redeem remaining Public Warrants on November 30, 2020, for $0.01 each if not exercised. This reminder aims to inform holders of the impending deadline. Purple focuses on innovative comfort products, including mattresses and other sleep-related items, driven by proprietary technologies.

Purple Innovation, Inc. (NASDAQ: PRPL) has announced its decision to voluntarily delist its warrants (NASDAQ: PRPLW) from Nasdaq following the redemption of specific outstanding warrants scheduled for November 30, 2020. The remaining outstanding warrants will consist of approximately 8.5 million Sponsor Warrants, held by 16 holders. The Company believes limited trading activity in the warrants and associated costs justify the withdrawal of the listing. The delisting will take effect ten days after a Form 25 is filed with the SEC.

Purple Innovation, Inc. (NASDAQ: PRPL) reported third-quarter 2020 results, showcasing a robust 59.4% revenue growth to $187.1 million. The direct-to-consumer segment surged 97.5%, while gross margin improved to 47.2%. Operating income rose 120.9% to $24.3 million, despite a net loss of ($1.2) million. Adjusted net income was $17.2 million or $0.27 per diluted share. The company anticipates continued growth with a focus on expanding manufacturing capabilities and marketing investments, yet it faces challenges in supply chain management.

Purple Innovation (NASDAQ: PRPL) announced it will report its third quarter 2020 financial results on November 10, 2020, around 5:00 pm ET. The company will also hold a conference call the following day, November 11, 2020, at 8:30 am ET to discuss the results. Interested parties may join the call by dialing specific numbers and providing a Conference ID. A live webcast will also be available on the company's investor relations website, with a replay accessible until November 25, 2020.

Purple Innovation, Inc. (NASDAQ: PRPL) will release its third quarter 2020 financial results on November 11, 2020, at 7:00 a.m. ET. A conference call will be held at 8:30 a.m. ET to discuss these results. Interested parties can join the call by dialing (877) 425-9470 for domestic and (201) 389-0878 for international calls, using Conference ID: 13712736. A replay will be available until November 25, 2020. Purple focuses on innovative comfort solutions, including their well-known Purple® Mattress.