Purple Innovation gets $15M Nasdaq listing notice

The notice leaves PRPL trading unchanged for now; Nasdaq could move toward delisting if the company misses the stated recovery test.

Rhea-AI Filing Summary

Purple Innovation, Inc. received notice from Nasdaq that its Market Value of Publicly Held Shares (MVPHS) had been below the $15 million continued-listing minimum for 30 consecutive business days. The notice has no immediate effect on the listing or trading of its Class A common stock.

The company says it has a 180-calendar-day compliance period from the September 30, 2026 notification, while identifying March 29, 2026 as the Compliance Date. To regain compliance, MVPHS must close at $15 million or more for at least 10 consecutive business days during the compliance period. If it does not, Nasdaq will notify the company that its securities are subject to delisting; the company may appeal a delisting determination or consider a transfer to the Nasdaq Capital Market if it satisfies that market’s continued-listing requirements.

0 points · 0 major

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Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

How the balance works

Positive

• None.

Negative

• Moderate pointNasdaq cited 30 consecutive business days below its $15 million MVPHS minimum.

8-K Event Classification

Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

1 item

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities

The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.

Key Figures

MVPHS continued-listing minimum: $15 million Period below MVPHS minimum: 30 consecutive business days Compliance period: 180 calendar days +3 more

6 metrics

MVPHS continued-listing minimum $15 million Nasdaq Global Select Market requirement

Period below MVPHS minimum 30 consecutive business days Before Nasdaq notification

Compliance period 180 calendar days From the September 30, 2026 notification

Compliance Date March 29, 2026 Date identified by the company for regaining compliance

Required MVPHS closing value $15 million or more Required during the compliance period

Required consecutive business days 10 consecutive business days Minimum period at or above the MVPHS threshold

Key Terms

Market Value of Publicly Held Shares, MVPHS Requirement, Compliance Period

3 terms

Market Value of Publicly Held Shares financial

"Market Value of Publicly Held Shares (“MVPHS”)"

The market value of publicly held shares is the total dollar worth of a company’s shares that are available to outside investors, calculated by multiplying the current market price by the number of shares held by the public (the “float”). It matters because it tells investors how much of the company is actually tradable and how the market is pricing that tradable portion—like a price tag on the items on a store shelf, it affects liquidity, volatility and how easy it is to buy or sell a meaningful stake.

MVPHS Requirement regulatory

"(the “MVPHS Requirement”)"

Compliance Period regulatory

"(the “Compliance Period”)"

A compliance period is a defined stretch of time during which a company must meet specific legal, regulatory, or contractual rules and reporting requirements. Think of it like a scheduled inspection window or a homework deadline: failing to satisfy the rules within that window can trigger fines, restrictions, or extra oversight, so investors watch compliance periods as signals of near-term legal risk, potential costs, and impacts on a company’s operations or cash flow.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What listing problem did Nasdaq identify for PRPL?

Nasdaq notified Purple that its MVPHS was below the $15 million minimum for 30 consecutive business days. The notice has no immediate effect on the listing or trading of its Class A common stock on the Nasdaq Global Select Market.

How can PRPL regain Nasdaq listing compliance?

Its MVPHS must close at $15 million or more for a minimum of 10 consecutive business days during the compliance period.

What compliance date did Purple identify for PRPL?

Purple identified March 29, 2026 as the Compliance Date, while also stating the compliance period is 180 calendar days from the September 30, 2026 notification.

What happens if PRPL fails to regain Nasdaq compliance?

Nasdaq will notify the company that its securities are subject to delisting. Purple may appeal a delisting determination or consider applying to the Nasdaq Capital Market if it meets that market’s continued-listing requirements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 30, 2026

Purple Innovation, Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware		001-37523		47-4078206
(State of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

4100 North Chapel Ridge Rd., Suite 200
Lehi, Utah		84048
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (801) 756-2600

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share		PRPL		The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 3.01 Notice of Delisting or Failure to Satisfy Listing Rules

On September 30, 2026, Purple Innovation, Inc. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that for the last 30 consecutive business days, the Company’s Market Value of Publicly Held Shares (“MVPHS”) was below the minimum of $15 million required for continued listing on the Nasdaq Global Select Market pursuant to Nasdaq Listing Rules 5450(b)(2)(C) and 5450(b)(3)(C) (the “MVPHS Requirement”). The notification of noncompliance has no immediate effect on the listing or trading of the Company’s Class A common stock on The Nasdaq Global Select Market.

In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company is given 180 calendar days from the date of the notification (the “Compliance Period”), or until March 29, 2026 (the “Compliance Date”), to regain compliance with respect to the MVPHS Requirement. To regain compliance with the MVPHS Requirement, the Company’s MVPHS must close at $15 million or more for a minimum of ten consecutive business days during the Compliance Period.

If the Company does not regain compliance by the Compliance Date, Nasdaq will notify the Company that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination to a hearing’s panel. However, there can be no assurance that, if the Company receives a delisting notice from the Staff and appeals the delisting determination, such appeal would be successful. Alternatively, the Company may consider applying for transfer to the Nasdaq Capital Market, provided it meets all the continued listing requirements of the Nasdaq Capital Market.

1

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 5, 2026	PURPLE INNOVATION, INC.
	By:	/s/ Robert G. Lucian
		Robert G. Lucian
		Chief Financial Officer

2

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB