---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-040463"
form_type: "8-K"
ticker: "PRPL"
cik: "0001643953"
company_name: "Purple Innovation, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T18:48:49.996619+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Purple Q1 revenue up 12.5% to $120M; net loss widens to $(50.2)M on warrant charges

## Summary
- Wholesale revenue surged 33.1% YoY; DTC revenue flat vs Q1 2023.
- Gross margin contracted to 34.8% from 38.0%; operating loss improved slightly to $(23.1)M.
- Net loss of $(50.2)M includes $(23.6)M non-cash warrant loss and $(3.4)M debt extinguishment loss.
- Adjusted net loss per diluted share $(0.19) vs $(0.14) a year ago; adjusted EBITDA $(13.2)M vs $(7.1)M.
- Cash at Mar 31 was $34.5M; management guides for positive adjusted EBITDA in H2 2024.

## SEC filing metadata
- accession: 0001213900-24-040463
- form_type: 8-K
- ticker: PRPL
- cik: 0001643953
- company_name: Purple Innovation, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643953/000121390024040463/0001213900-24-040463-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643953/000121390024040463/ea0205081-8k_purple.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-040463
- JSON: https://secwatch.observer/filing/0001213900-24-040463.json
- Plain text: https://secwatch.observer/filing/0001213900-24-040463.txt

## Key facts
- Earnings Releases
  Purple Innovation, Inc. reported the first quarter ended March 31, 2024 results: revenue $120.0 million, net income $(50.2) million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $120.0 million
  - Net income: $(50.2) million
  - Result: reported results
  source text: first quarter ended March 31, 2024, which were in line with guidance. First Quarter Financial Summary (Comparisons versus First Quarter 2023) 1 ● Net revenue increased 12.5% to $120.0 million compared to $106.7 million. o Wholesale revenue increased 33.1% and Direct-to-Consumer (DTC) revenue was consistent with the year ago period. ● Gross margin was 34.8% compared to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1643953/000121390024040463/0001213900-24-040463-index.htm

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