Purple Innovation Q3 revenue down 15.3% to $118.6M; adjusted EBITDA loss narrows to $6.4M

Purple Innovation, Inc.

2024-Q3 EPS reported -$0.84 revenue$358,902,000

Revenue declined 15.3% YoY to $118.6M; DTC down 11.7%, wholesale down 20.1%.
Adjusted gross margin improved 340bps to 40.5%; GAAP gross margin 29.7% due to $12.9M restructuring charges.
Adjusted EBITDA loss narrowed to $6.4M from $16.3M; net loss $39.2M ($0.36/sh).
Restructuring: $32.7M charges in Q3, $9.9M more expected; targets $15-20M annual EBITDA savings starting 2025.
FY2024 revenue guidance at lower end of $490-510M; expects positive adjusted EBITDA in Q4.

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