---
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"
generated_at: "2026-06-15T06:32:44.101015+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Purple Innovation Q1 revenue falls 23.6% to $109.4M; net loss widens to $23.4M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-038119
- JSON: https://secwatch.observer/filing/0001213900-23-038119.json
- Plain text: https://secwatch.observer/filing/0001213900-23-038119.txt

## Key facts
- Earnings Releases
  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.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $109.4 million
  - Net income: $(23.4) million
  - EPS: $(0.12) per diluted share
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390023038119/0001213900-23-038119-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.