Purple Innovation Q2 revenue down 16.1% to $120.9M; net loss widens to $(37.5)M

Purple Innovation, Inc.

2023-Q2 EPS reported -$0.60 revenue$230,244,000

Net revenue fell 16.1% YoY to $120.9M; wholesale -15.5%, DTC -16.6%.
Net loss $(37.5)M vs $(8.3)M; adjusted net loss $(0.20) per diluted share.
Adjusted EBITDA loss widened to $(18.5)M from $(0.3)M.
Largest product refresh launched mid-quarter; June revenue run rate up 18% vs first 5 months.
New debt facility signed August 7, 2023 with less restrictive terms.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Purple Innovation, Inc. reported the second quarter ended June 30, 2023 results: revenue $120.9 million, net income $(37.5) million, EPS $(0.20) per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $120.9 million
Net income: $(37.5) million
EPS: $(0.20) per diluted share
Result: reported results

Exact text from the filing

today announced results for the second quarter ended June 30, 2023. Second Quarter Financial Summary (Comparisons versus Second Quarter 2022) 1 ● Net revenue decreased 16.1% to $120.9 million compared to $144.1 million. o Wholesale revenue decreased 15.5% and Direct-to-Consumer (DTC) revenue decreased 16.6%. ● Gross margin decreased 210 basis points to 31.8% compared

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Source: SEC EDGAR

accession 0001213900-23-065017

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