Purple announces preliminary FY2022 net sales $574M; net loss $(83.7-97.5M) with large DTA charge

Purple Innovation, Inc.

2022-FY EPS reported -$1.10 revenue$575,692,000

Net sales of approx. $574M at low end of guidance range ($570M-$590M).
Net loss expected between $83.7M and $97.5M; adjusted EBITDA at low end of $2M-$7M guidance.
Additional deferred tax asset valuation allowance of $213M-$227M, partially offset by $162M reversal of Tax Receivable Agreement liability.
Net non-cash expense of $51M-$65M from DTA and TRA adjustments.
New premium mattress lineup launched at Las Vegas Market; expects year-over-year growth starting H2 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Purple Innovation, Inc. reported the fiscal year ended December 31, 2022 results: revenue approximately $574 million, net income $(97.5) million and ($83.7) million.

Period: the fiscal year ended December 31, 2022
Revenue: approximately $574 million
Net income: $(97.5) million and ($83.7) million
Result: preliminary results

Exact text from the filing

For the year ended December 31, 2022, the Company expects to report: ● Net sales of approximately $574 million compared to guidance of $570 million to $590 million. ● Net loss between $(97.5) million and ($83.7) million.

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Source: SEC EDGAR

accession 0001213900-23-005812

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