{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-038119","form_type":"8-K","ticker":"PRPL","cik":"0001643953","company_name":"Purple Innovation, Inc.","filed_at":"2023-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.808380+00:00","generated_at":"2026-06-15T06:32:44.101015+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Purple Innovation Q1 revenue falls 23.6% to $109.4M; net loss widens to $23.4M","bullets":["Net revenue $109.4M, down 23.6% YoY; wholesale -25.3%, DTC -22.5%.","Gross margin improved 340 bps to 39.5%; operating loss $(22.0)M vs $(18.4)M.","Net loss $(23.4)M ($0.23/share loss); adjusted net loss $(12.0)M ($0.12/share loss).","Adjusted EBITDA improved to $(4.4)M from $(9.6)M; advertising spend cut 50.7% to $11.7M.","Cash $54.5M at quarter end; Q2 product launch underway with new mattresses shipping."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-038119","json":"https://secwatch.observer/filing/0001213900-23-038119.json","markdown":"https://secwatch.observer/filing/0001213900-23-038119.md","text":"https://secwatch.observer/filing/0001213900-23-038119.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023038119/0001213900-23-038119-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023038119/ea178240-8k_purple.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T06:32:44.101015+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d9d0255dcbb073ac7714512f5155875f0994ec4d","claim":"Purple Innovation, Inc. reported the first quarter ended March 31, 2023 results: revenue $109.4 million, net income $(23.4) million, EPS $(0.12) per diluted share.","evidence_excerpt":"today announced results for the first quarter ended March 31, 2023. First Quarter Financial Summary (Comparisons versus First Quarter 2022) 1 ● Net revenue decreased 23.6% to $109.4 million compared to $143.2 million. ○ Wholesale revenue decreased 25.3% and Direct-to-Consumer (DTC) revenue decreased 22.5%. ● Gross margin increased 340 basis points to 39.5%","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023038119/0001213900-23-038119-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended March 31, 2023"},{"label":"Revenue","value":"$109.4 million"},{"label":"Net income","value":"$(23.4) million"},{"label":"EPS","value":"$(0.12) per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}