Welcome to our dedicated page for Purple Innovatio news (Ticker: PRPL), a resource for investors and traders seeking the latest updates and insights on Purple Innovatio stock.
Purple Innovation, Inc. (NASDAQ: PRPL) is a comfort innovation and premium mattress company whose news flow centers on sleep technology, product launches, commercial partnerships, and financial performance. The company is known for its proprietary GelFlex Grid® technology, which it describes as the most significant advancement in sleep science in decades and the core of its premium mattress and pillow offerings.
News about Purple frequently highlights developments in its product portfolio, including new mattress collections such as Rejuvenate and Rejuvenate 2.0 and the introduction of DreamLayer™ technology. Press releases describe how these grid-based designs aim to deliver deeper immersion, improved pressure relief, temperature balance, and support for all sleep positions. Independent validation is another recurring theme: in‑home studies by SleepScore Labs on Purple’s Essentials and Restore mattresses reported reductions in pain-related sleep disruptions and improvements in both objective and self‑reported sleep metrics compared to participants’ prior mattresses.
Investors following PRPL news will also find regular quarterly and annual earnings announcements detailing net revenue, gross margin, net loss, adjusted EBITDA, and cash flow trends. These updates discuss Purple’s restructuring efforts, cost savings initiatives, and its Path to Premium Sleep strategy, which focuses on premium product lines and operational efficiency. Financial news has also covered term loan amendments, incremental debt financing, and the issuance of equity warrants to lenders and commercial partners to support investments in innovation, advertising, and expanded distribution.
Another important category of Purple news involves strategic relationships and capital markets developments. The company has announced a significant expansion of its commercial relationship with Somnigroup International, Inc. and Mattress Firm, including plans to more than double the number of Purple mattress slots in Mattress Firm stores and a strategic supply agreement with Tempur Sherwood, LLC. Regulatory and listing-related updates, such as the Nasdaq minimum bid price notice disclosed in a Form 8‑K, also appear in the company’s news stream. For readers tracking PRPL, this news page aggregates these product, partnership, financial, and regulatory updates in one place for ongoing monitoring.
Purple Innovation (NASDAQ: PRPL) has announced that its Board of Directors has initiated a strategic alternatives review following multiple expressions of interest. The review will explore various options including a potential sale, merger, or other strategic transactions to maximize shareholder value.
The company has formed a special committee of independent directors led by Gary T. DiCamillo to evaluate these alternatives. The announcement comes as Purple reported positive Adjusted EBITDA and positive cash flow in Q4 2024, along with an expansion of their credit facility. The company has also increased its existing term loan by $19 million to a total of $80 million.
Purple has engaged Jefferies as financial advisor for the strategic review. The Board has not set a timeline for completion and has not made any decisions regarding potential transactions. The company maintains its focus on executing its Path to Premium strategy while serving customers and wholesale partners.
Purple Innovation (NASDAQ: PRPL) reported Q4 and full-year 2024 results, marking a return to positive Adjusted EBITDA after eight quarters. Q4 net revenue declined 11.6% to $129.0 million, while gross margin improved significantly to 42.9%. The company secured an additional $19.0 million in term loan financing.
Key Q4 metrics: Net loss improved to $(8.5) million from $(18.3) million year-over-year, Adjusted EBITDA reached $2.9 million compared to $(9.8) million last year. Full-year 2024 revenue was $487.9 million, down 4.4% from 2023, with net loss improving to $(97.9) million.
2025 Outlook: Purple expects revenue between $465-485 million and adjusted EBITDA of flat to positive $10 million. Q1 2025 guidance projects revenue of $102-107 million and adjusted EBITDA of $(6) to $(9) million. The company also announced a strategic review process to evaluate potential sale or merger options.
Purple Innovation (NASDAQ: PRPL), known for the 'World's First No Pressure™ Mattress,' has scheduled its fourth quarter and full year 2024 financial results announcement for March 13, 2025, at approximately 4:05 p.m. ET.
The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results. Investors and analysts can participate by dialing 844-481-1976 (domestic) or 412-317-0642 (international). A live webcast will be available at investors.purple.com.
A telephone replay will be accessible until March 27, 2025, and a webcast replay will remain available for 30 days on the company's investor relations website.
Purple Innovation (NASDAQ: PRPL) has revised its full-year 2024 guidance, now expecting net revenue between $486-488 million, down from the previous outlook of $490-510 million. The adjusted EBITDA forecast has been lowered to $(23)-(21) million from the previous $(20)-(10) million range.
Despite challenging macro conditions through the end of 2024, the company expects to achieve positive cash flow and adjusted EBITDA in Q4 2024, which CEO Rob DeMartini describes as an important milestone for their Path to Premium Sleep strategy. The company will participate in the ICR Conference on January 13, 2025, where they will provide more detailed insights during a fireside chat presentation.
Purple Innovation (NASDAQ: PRPL) reported Q3 2024 results with net revenue declining 15.3% to $118.6 million. The company posted a GAAP gross margin of 29.7% and adjusted gross margin of 40.5%, up 340bps year-over-year. Net loss was $(39.2) million or $(0.36) per share, while adjusted EBITDA loss narrowed to $(6.4) million from $(16.3) million last year. The company's restructuring plan, including closure of Utah facilities and consolidation to Georgia, is expected to yield annual EBITDA savings of $15-20 million starting in 2025. Purple expects full-year 2024 revenue at the lower end of $490-510 million guidance range.
Purple Innovation (NASDAQ: PRPL) announced it will release its third quarter 2024 financial results on Monday, November 4, 2024, at approximately 4:05 p.m. ET. The company will host a conference call at 4:30 p.m. ET the same day to discuss the results. Investors and analysts can participate by dialing 844-481-1976 (domestic) or 412-317-0642 (international). A live webcast will be available at investors.purple.com. A telephone replay will be accessible until November 18, 2024, and a webcast replay will remain available for 30 days.
Purple Innovation (NASDAQ: PRPL) has announced a strategic consolidation of its manufacturing operations, aiming to accelerate growth and innovation. The company will close two Utah facilities and consolidate production into its McDonough, Georgia facility by December 31, 2024. This move is expected to generate $15 to $20 million in EBITDA benefit annually starting in 2025.
The restructuring includes corporate-level job reductions and plans for a new Utah distribution center. Purple will maintain its Utah headquarters, showrooms, and R&D activities. The company anticipates restructuring costs of $35 to $45 million, with $26 to $32 million being non-cash. These changes are not expected to impact Purple's 2024 guidance targets.
Purple Innovation (NASDAQ: PRPL) reported Q2 2024 results with net revenue increasing 2.0% to $120.3 million. Wholesale revenue grew 7.2%, while Direct-to-Consumer revenue decreased 1.8%. Gross margin improved to 40.7% from 30.1% year-over-year. The company reported net income of $0.0 million, compared to a net loss of $(40.5) million in Q2 2023. Adjusted EBITDA was $(4.1) million, an improvement from $(21.5) million last year.
Purple revised its 2024 revenue outlook to $490-$510 million, down from $540-$560 million, citing industry-wide demand declines. The company reiterated its Adjusted EBITDA guidance of $(20) million to $(10) million for the full year. CEO Rob DeMartini highlighted operational improvements and cost-saving programs, expressing confidence in returning to profitability in the second half of 2024.
Purple Innovation, Inc. (NASDAQ: PRPL), known for creating the "World's First No Pressure® Mattress," has announced it will report its second quarter 2024 financial results on Monday, August 5, 2024, at approximately 4:05 p.m. ET. The company will hold a conference call at 4:30 p.m. ET the same day to review the results.
Investors and analysts can participate by dialing (844) 825-9789 (domestic) or (412) 317-5180 (international). A live webcast will be available at investors.purple.com. A telephone replay will be accessible until August 19, 2024, and a webcast replay will remain available for 30 days on the company's investor relations website.
Purple Innovation (NASDAQ: PRPL) announced it will participate in the Oppenheimer 24th Annual Consumer Growth & E-Commerce Conference. The company will present on Monday, June 10, 2024, at 10:30 a.m. Eastern Time. The presentation, focusing on Purple's innovations and market strategies, will be broadcast online and accessible via the company's investor relations website. This participation underscores Purple's commitment to growth and visibility in the comfort innovation sector.
FAQ
What is the current stock price of Purple Innovatio (PRPL)?
What is the market cap of Purple Innovatio (PRPL)?
