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) delivers groundbreaking comfort solutions through its patented GelFlex® Grid technology and Hyper-Elastic Polymer innovations. This dedicated news hub provides investors and industry observers with essential updates about the company's strategic initiatives, product developments, and market positioning.
Access authoritative coverage of PRPL's material announcements including quarterly earnings, product launches, partnership agreements, and technology advancements. Our curated collection serves as a reliable resource for understanding Purple's unique approach to sleep innovation and home comfort solutions.
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Purple Innovation, Inc. (NASDAQ: PRPL) reported a third quarter net revenue decline of 8.7% to $170.8 million compared to 2020, though up 45.5% from 2019. Wholesale revenue increased 9.6% year-over-year while Direct-to-Consumer (DTC) fell 15.9%. Gross profit was 35.8% versus 47.2% in 2020. The company noted ongoing manufacturing backlogs adversely impacting sales and missed pricing opportunities. However, a new agreement with Mattress Firm aims to expand sales, and new manufacturing technology is expected to enhance capacity. Expectations for 2021 revenue are between $720 and $740 million.
Purple Innovation, Inc. (NASDAQ: PRPL) has announced a change in the timing of its earnings conference call for Q3 2021, now set for November 9, 2021, at 4:30 p.m. ET. Investors and analysts can participate by calling 866-269-4260 domestically or 929-477-0591 internationally, using Conference ID: 5317137. A replay will be available until November 23, 2021, and a webcast will remain accessible for 30 days post-call. Purple continues to focus on innovative comfort solutions, leveraging over 25 years of proprietary technology.
Purple Innovation, Inc. (NASDAQ: PRPL) will announce its third quarter 2021 financial results on November 9, 2021, at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss these results. Interested participants can join by dialing (844) 826-3033 domestically or (412) 317-5185 internationally, using Conference ID: 10161746. A replay of the call will be available until November 23, 2021. Purple focuses on innovative comfort solutions, offering products like mattresses and cushions, and is recognized for its proprietary Hyper-Elastic Polymer technology.
Purple Innovation, Inc. (NASDAQ: PRPL) has appointed Jack Roddy as the new Chief People Officer, responsible for human resources, culture, talent acquisition, and diversity initiatives. With over 25 years of experience in organizational development, Roddy previously served as Chief People Officer at VASA Fitness and Chief HR Officer at SeaWorld Parks & Entertainment. CEO Joe Megibow expressed enthusiasm about leveraging Roddy's experience to enhance company culture as Purple scales.
Purple Innovation, Inc. (NASDAQ: PRPL) announced that CEO Joe Megibow and interim CFO Bennett Nussbaum will participate in the Raymond James 2021 Consumer Conference on September 14, 2021, at 11:40 am Eastern Time. The event will feature a fireside chat presentation broadcasted live on the internet at investors.purple.com. Purple is known for its innovative comfort solutions, primarily its Purple® Mattress, leveraging over 25 years of proprietary technology development.
Purple Innovation, Inc. (NASDAQ: PRPL) announced the separation of its Chief Financial Officer, Craig Phillips, effective August 31, 2021. An executive search firm has been engaged to find his successor. Bennett Nussbaum has been appointed as the interim CFO, bringing over 45 years of experience from leadership roles at Pepsi-Cola International, Burger King, and FedEx Office. The company assures that Phillips' departure is unrelated to operational or financial issues.
Purple Innovation, Inc. (NASDAQ: PRPL) announced Q2 2021 results, showcasing a 10.6% increase in net revenue to $182.6 million, compared to $165.1 million in Q2 2020. Wholesale revenue surged by 233.2%, while Direct-to-Consumer revenue decreased 19.9%. Gross margin declined to 44.7% from 49.4% in 2020. Operating loss stood at $(2.5) million vs. a profit of $32.0 million in 2020. The company's outlook estimates 2021 net revenues between $820 million and $850 million, an increase of 26% to 31% over 2020.
Purple Innovation, Inc. (NASDAQ: PRPL) will announce its second quarter 2021 financial results on August 9, 2021, at 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET for discussion and an updated outlook for 2021.
Investors can participate by calling (877) 300-8521 (domestic) or (412) 317-6026 (international) with Conference ID: 10159168. A replay will be available until August 23, 2021.
Purple Innovation, Inc. (NASDAQ: PRPL) announced progress on restoring production levels after facing challenges due to mechanical issues with its Mattress Max™ machines. Following an accident and safety improvements, production had been reduced for approximately 10 weeks. The company has successfully ramped production to 85-90% of pre-incident levels, with plans to fully restore operations within a week. However, ongoing shipment backlogs are expected to impact second and third quarter revenues. Management will provide updated full-year guidance during the second quarter results announcement.
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