AI Earnings Predictions for Purple Innovation Inc. (PRPL)

EX-99.1

3 ea028773601ex99-1.htm PRESS RELEASE DATED APRIL 28, 2026, REGARDING FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2026

Exhibit 99.1

Purple Innovation Reports First Quarter 2026 Results

Showroom Comps up 7.0%, Marking the Third Consecutive Quarter of Positive Comps

E-commerce Trends Improve Sequentially

Early Traction from Purple Royale at Mattress Firm Supports Premium Momentum and Wholesale Growth

Reaffirms Full Year EBITDA Guidance; Positioned for Improving Performance in Second Quarter

Lehi, Utah, April 28, 2026 – Purple Innovation, Inc. (NASDAQ: PRPL) (“Purple”), a comfort innovation company whose mattresses promise to give you “less pain, better sleep,” today announced results for the first quarter ended March 31, 2026.

“During the first quarter, we continued to build on the progress we made at the end of last year, with improving consistency across our business and solid performance in our showroom and wholesale channels,” said Rob DeMartini, CEO of Purple Innovation. “While total sales were modestly down, ecommerce trends improved sequentially, and we are seeing early benefits from the more disciplined execution and the actions we’ve taken to strengthen the business.”

“We are encouraged by the strong response to our premium portfolio, including early traction for Purple Royale at Mattress Firm and continued momentum in Rejuvenate 2.0, as we expand our wholesale partnerships and improve operating efficiency. As we enter the second quarter, we remain focused on driving growth through better consumer insight, differentiated innovation rooted in our GelFlex Grid technology, and expanded distribution, and believe that we are well positioned to deliver continued progress in 2026.”

First Quarter 2026 Financial Results

First quarter 2026 net revenue was $95.7 million, down approximately 8.1% compared to the first quarter of 2025. The decrease was primarily driven by softness in e-commerce and lower wholesale revenue, partially offset by growth in showrooms. During the first quarter of 2026, total amounts billed were approximately $100.6 million, down 3.4% year over year; however, as a result of required net reporting related to certain wholesale transactions, reported revenue was reduced by $4.9 million to $95.7 million.

Gross profit for the first quarter was $35.2 million or 36.8% of net revenue, compared to $41.0 million or 39.4% in the prior-year period. Gross margin was impacted by a strategic investment in Royale floor models to support the Mattress Firm rollout, as well as modest manufacturing overhead deleverage driven by lower production volumes and less favorable absorption of fixed costs. These impacts are primarily timing-related and not indicative of a change in the underlying health of the business.

First quarter operating expenses were $52.0 million, down 6.3% from $55.5 million in the prior year quarter. The improvement was primarily driven by ongoing cost savings initiatives and the benefits of prior restructuring actions, partially offset by higher expenses related to the ongoing evaluation of strategic alternatives, which may vary by quarter.

Net loss attributable to Purple Innovation, Inc. for the first quarter was $30.5 million, compared to $19.1 million in the prior year.

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Adjusted EBITDA for the first quarter was $(4.8) million, flat from this time last year.

Balance Sheet

As of March 31, 2026, the Company had cash and cash equivalents of $25.0 million compared to $24.3 million as of December 31, 2025.

Net inventories as of March 31, 2026, totaled $58.1 million, down 2.7% compared to December 31, 2025.

2026 Outlook

The Company is updating its 2026 outlook for full year revenue to a range of $465 to $485 million, from the prior range of $500 to $520 million, due to the accounting adjustment noted earlier in this press release. The Company is maintaining its adjusted EBITDA in the range of $20 to $30 million.

Conference Call and Webcast Information

Purple Innovation, Inc. will host a live conference call to discuss financial results today, April 28, 2026, at 8:30 a.m. Eastern Time. To access the call dial 800-715-9871 (domestic) or 646-307-1963 (international). The call is also being webcast and can be accessed on the investor relations section of the Company’s website, investors.purple.com. After the conference call, a webcast replay will remain available on the investor relations section of the Company’s website for one year.

About Purple

Purple exists to help people get the best sleep of their lives — by reducing pain, deepening sleep, and unlocking the potential for brighter dawns and better days. At the center of that mission is our signature innovation, the GelFlex Grid®. Originally developed in medical settings to support the body in its most vulnerable moments, the GelFlex Grid delivers a one-of-a-kind combination of pressure relief, alignment, and temperature balance that helps people fall asleep easier, stay asleep longer, and wake u

EX-99.1

3 ea028245601ex99-1.htm PRESS RELEASE DATED MARCH 25, 2026, REGARDING FINANCIAL RESULTS FOR THE FOURTH QUARTER AND CALENDAR YEAR ENDED DECEMBER 31, 2025

Exhibit 99.1

Purple Innovation Reports Fourth Quarter and Full Year 2025 Results

Revenue Increases 9% in Fourth Quarter

GAAP Net Loss of $3.2 Million in Fourth Quarter

Delivers $8.8 Million in Adjusted EBITDA in Fourth Quarter

Full Year Adjusted EBITDA Positive; Gross Margin Exceeds 40% Target

Lehi, Utah, March 25, 2026 – Purple Innovation, Inc. (NASDAQ: PRPL) (“Purple”), a comfort innovation company whose mattresses promise to give you “less pain, better sleep,” today announced results for the fourth quarter and full year ended December 31, 2025.

“2025 marked an important inflection point for Purple,” said Rob DeMartini, CEO of Purple Innovation. “In the fourth quarter, we delivered revenue growth of approximately 9%, delivered gross profit expansion, and generated $8.8 million in adjusted EBITDA. We also finished the year profitable on an adjusted EBITDA basis, a significant milestone that reflects the structural improvements we have made across the business.”

DeMartini continued, “Over the past year, we strengthened our foundation through disciplined cost actions and manufacturing consolidation, while reinforcing our premium positioning. Rejuvenate 2.0 continued to outperform, our expanded Mattress Firm partnership and Costco programs drove meaningful wholesale growth, and our showroom fleet delivered improved profitability. As we enter 2026, we are operating from a stronger margin profile and a more efficient cost structure, supported by what we believe is a clear and disciplined strategy to scale profitably.”

Fourth Quarter 2025 Financial Results

Fourth quarter 2025 net revenue was $140.7 million, representing growth of approximately 9.1% compared to the fourth quarter of 2024. Growth was driven primarily by the wholesale channel, reflecting a full quarter of expanded Mattress Firm placements and continued momentum with Costco, partially offset by a decline in e-commerce.

Gross profit for the fourth quarter increased to $59.0 million or 41.9% of net revenue, compared to $55.3 million or 42.9% in the prior-year period. Gross margin was up against a period when it rose 970 basis points, driven by sourcing initiatives and the profitable liquidation of inventories. On a two-year basis, gross margin rose 870 basis points, reflecting direct material savings, plant efficiencies, restructuring benefits, and volume leverage.

Fourth quarter operating expenses were $61.2 million, down 2.9% from $63.0 million in the prior year quarter. The improvement was primarily driven by ongoing benefits from restructuring and cost-saving initiatives, partially offset by strategic alternatives costs.

Net loss attributable to Purple Innovation, Inc. for the fourth quarter was $3.2 million, an improvement from $(8.5) in the prior year.

Adjusted EBITDA for the fourth quarter was $8.8 million, an improvement from $2.9 million last year, driven primarily by revenue growth and disciplined cost management.

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Full Year 2025 Financial Results

Full year 2025 net revenue was $468.7 million, a decline of 3.9% compared to the full year 2024. The reduction was driven primarily by ecommerce headwinds, partially offset by expanded partnerships in the wholesale channel.

Gross profit for the full year increased to $188.6 million, compared to $181.1 million in the prior-year period. Gross margin was 40.2%, up 310 basis points from last year, reflecting the continued impact of our restructuring initiatives, sourcing savings, and manufacturing efficiencies.

Full year operating expenses were $231.6 million, down 15.3% from $273.3 million in the prior year, driven by restructuring actions and productivity initiatives.

Net loss attributable to Purple Innovation, Inc. for the full year was $(51.4) million, an improvement from $(97.9) in the prior year.

Adjusted EBITDA for the full year was $1.9 million, a significant improvement from $(20.8) million last year.

Balance Sheet

As of December 31, 2025, the Company had cash and cash equivalents of $24.3 million compared to $29.0 million as of December 31, 2024.

Net inventories as of December 31, 2025, totaled $59.7 million, down 9.2% compared to September 30, 2025, and an increase of 5.0% compared to December 31, 2024.

2026 Outlook

For 2026, the Company currently expects full year revenue to be in the range of $500 to $520 million and adjusted EBITDA in the range of $20 to $30 million.

For the first quarter, the Company anticipates total revenue to be in the range of $100 to $105 million and adjusted EBITDA to be approximately $(7) to $(4) million.

Conference Call and Webcast Information

Purple Innovation, Inc. will host a live conference call to discuss financial results today, March 25, 2026, at 8:30 a.m. Eastern Time. To access the call dial 800-715-9871 (domestic) or 646-307-1963 (international). The call is also b

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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): November 4, 2025

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

2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On November 4, 2025, Purple Innovation, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2025. A copy of this press release is furnished as Exhibit 99.1 to this report and incorporated by reference herein.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The press release furnished herewith in Exhibit 99.1 contains non-GAAP financial measures. Management believes non-GAAP financial measures assist management and investors in evaluating and comparing period-to-period results and projections in a more meaningful and consistent manner. Reconciliations for these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the press release.

ITEM

9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

Exhibit

Number

Description

99.1

Press Release dated November 4, 2025, regarding financial results for the third quarter ended September 30, 2025.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

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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: November 4, 2025

PURPLE

INNOVATION, INC.

By: /s/ Todd Vogensen

Todd Vogensen

Chief Financial Officer

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