Welcome to our dedicated page for Purple Innovation news (Ticker: $PRPL), a resource for investors and traders seeking the latest updates and insights on Purple Innovation stock.
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.
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%
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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%
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Rhea-AI Summary
Purple Innovation, Inc. (NASDAQ: PRPL) reports a 19% sequential revenue increase in Q3, with net revenue at $140.0 million. However, gross margin decreased to 33.8% due to new product transition costs, while operating expenses rose to $79.9 million. The company expects to return to year-over-year revenue growth in Q4.
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End-of-Day
-31.14%
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Purple Innovation, Inc. announces a partnership with BioFi to distribute the non-wearable sleep device, RemWave. RemWave is a convenient sleep product that tracks and monitors sleep, measuring 6-inches in diameter and can be placed under any bed. It can track up to two different people's sleep. This partnership brings together Purple's GelFlex Grid mattresses and RemWave's sleep monitoring capabilities to offer a full-service solution to customers. RemWave devices and demonstrations will be available in 11 Purple Showrooms in Utah starting November 1.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.4%
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Rhea-AI Summary
Purple Innovation, Inc. (NASDAQ: PRPL) will report its third quarter 2023 financial results on November 9, 2023, at approximately 4:05 p.m. ET. The company will hold a conference call at 4:30 p.m. ET to review the results. Interested parties can participate by dialing (888) 300-3045 (domestic) or (646) 568-1027 (international) with the Conference ID: 8565527. A webcast will also be available at investors.purple.com.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.56%
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Rhea-AI Summary
Purple Innovation appoints Tricia McDermott as Chief Legal Officer, effective October 23, 2023.
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Rhea-AI Sentiment
End-of-Day
9.27%
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Rhea-AI Summary
Purple Innovation appoints Todd Vogensen as Chief Financial Officer
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End-of-Day
-7.24%
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Rhea-AI Summary
Purple Innovation, Inc. announced its second-quarter results, with net revenue decreasing by 16.1% to $120.9 million compared to the same quarter last year. Gross margin decreased to 31.8% and operating expenses increased to $75.7 million. The company reported an operating loss of $(37.3) million and a net loss of $(37.5) million. Purple Innovation also introduced 11 new products and a more premium brand position.
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Rhea-AI Sentiment
End-of-Day
-13.19%
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Rhea-AI Summary
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2.58%
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Rhea-AI Summary
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Rhea-AI Sentiment
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-4.05%
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Purple Innovation, Inc.
Nasdaq:PRPL
PRPL Rankings
PRPL Stock Data
159.07M
55.34M
3.85%
77.16%
5.42%
Wood Kitchen Cabinet and Countertop Manufacturing
Manufacturing
United States of America
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