Purple returns to positive Q4 Adjusted EBITDA; Board starts strategic alternatives review

Purple Innovation, Inc.

Q4 net revenue $129.0M (-11.6% YoY), net loss $8.5M vs $18.3M loss prior year.
Q4 Adjusted EBITDA $2.9M (first positive quarter in eight); FY24 adjusted EBITDA -$20.8M vs -$54.7M.
Board formed special committee to evaluate strategic alternatives after inbound interest; Jefferies retained as advisor.
Term loan increased by $19M to $80M total commitment; interest may be paid in kind.
FY2025 guidance: revenue $465-$485M, adjusted EBITDA $0-$10M; Q1 revenue $102-$107M, EBITDA $(6)-(9)M.

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