{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-085224","form_type":"8-K","ticker":"PRPL","cik":"0001643953","company_name":"Purple Innovation, Inc.","filed_at":"2023-11-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.918807+00:00","generated_at":"2026-06-08T06:51:40.492084+00:00","sec_items":["1.01","2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.78,"calibrated_materiality_score":0.78,"confidence":"high","headline":"Purple posts Q3 net revenue $140M (-2% YoY); gets waivers on credit defaults, expects Q4 growth","bullets":["Net revenue $140.0M, down 2% YoY but up 19% sequentially; net loss $(36.0)M vs. $2.0M income YoY.","Adjusted EBITDA loss $(16.3)M vs. positive $11.8M YoY; adj. EPS $(0.18) vs. $0.03.","Gross margin 33.8% (adj. 37.1%); costs from new product transition pressured margins.","Credit agreement amended & defaults waived (late reporting, missing deliverables); new terms require weekly borrowing base, 13-week cash flow reports, daily cash sweeps, and a third-party consultant.","Management guides for return to year-over-year revenue growth in Q4 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-085224","json":"https://secwatch.observer/filing/0001213900-23-085224.json","markdown":"https://secwatch.observer/filing/0001213900-23-085224.md","text":"https://secwatch.observer/filing/0001213900-23-085224.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023085224/0001213900-23-085224-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023085224/ea187980-8k_purple.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T06:51:40.492084+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":"04b45547ec81ef99f67e9fec39fd91ce7e46f97b","claim":"Purple Innovation, Inc. reported the third quarter ended September 30, 2023 results: revenue $140.0 million, net income $(36.0) million. Guidance lowered.","evidence_excerpt":"for the third quarter ended September 30, 2023. Third Quarter Financial Summary (Comparisons versus Third Quarter 2022 and Second Quarter 2023) 1 ● Net revenue decreased 2.0% to $140.0 million compared to 3Q22 and increased 18.8% compared to 2Q23. o Wholesale revenue increased 2.6% compared to 3Q22 and increased 20.0% compared to 2Q23. o Direct-to-Consumer (DTC)","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023085224/0001213900-23-085224-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the third quarter ended September 30, 2023"},{"label":"Revenue","value":"$140.0 million"},{"label":"Net income","value":"$(36.0) million"},{"label":"Guidance","value":"lowered"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"efbfda7c40cd08973d975cadd72b636d9283de35","claim":"Purple Innovation, Inc. amended ABL Amendment and Waiver with Bank of Montreal and group of financial institutions (ABL Lenders) valued at Provides waivers of Subject Events of Default and amends provisions including weekly borrowing base (effective 2023-11-06).","evidence_excerpt":"On November 6, 2023, the Loan Parties entered into (i) a First Amendment and Waiver to the ABL Agreement (the “ABL Amendment”) and (ii) a First Amendment and Waiver to the Term Loan Agreement (the “Term Loan Amendment”), with the Term Loan Lenders and ABL Lenders, respectively (collectively, the “Lenders”), including waivers of the Subject Events of Default.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023085224/0001213900-23-085224-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of Montreal and group of financial institutions (ABL Lenders)"},{"label":"Value","value":"Provides waivers of Subject Events of Default and amends provisions including weekly borrowing base"},{"label":"Effective","value":"2023-11-06"}],"fact_type":"material_agreement"},{"claim_id":"fcfd8fc61a209c3591298649cb4ed738b12db2ed","claim":"Purple Innovation, Inc. amended Term Loan Amendment and Waiver with Callodine Commercial Finance, LLC and group of financial institutions (Term Loan Lenders) valued at Provides waivers of Subject Events of Default and amends provisions including weekly borrowing base (effective 2023-11-06).","evidence_excerpt":"On November 6, 2023, the Loan Parties entered into (i) a First Amendment and Waiver to the ABL Agreement (the “ABL Amendment”) and (ii) a First Amendment and Waiver to the Term Loan Agreement (the “Term Loan Amendment”), with the Term Loan Lenders and ABL Lenders, respectively (collectively, the “Lenders”), including waivers of the Subject Events of Default.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643953/000121390023085224/0001213900-23-085224-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Callodine Commercial Finance, LLC and group of financial institutions (Term Loan Lenders)"},{"label":"Value","value":"Provides waivers of Subject Events of Default and amends provisions including weekly borrowing base"},{"label":"Effective","value":"2023-11-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}