secwatch.observer — SEC 8-K summary
======================================

Issuer:     Purple Innovation, Inc. (PRPL)
CIK:        0001643953
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001213900-24-094098
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1643953/000121390024094098/0001213900-24-094098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1643953/000121390024094098/ea0218894-8k_purple.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-094098

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer