Purple Innovation, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:12 pm EST
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Purple Innovation, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 140 million compared to USD 142.87 million a year ago. Net loss was USD 36 million compared to net income of USD 1.96 million a year ago. Basic loss per share from continuing operations was USD 0.34 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.34 compared to diluted earnings per share from continuing operations of USD 0.02 a year ago.
For the nine months, sales was USD 364.61 million compared to USD 428.9 million a year ago. Net loss was USD 102.42 million compared to USD 20.81 million a year ago. Basic loss per share from continuing operations was USD 0.99 compared to USD 0.26 a year ago. Diluted loss per share from continuing operations was USD 0.99 compared to USD 0.27 a year ago.
Purple Innovation, Inc. is a mattress company. The Company offers a variety of branded and premium comfort products, including mattresses, pillows, cushions, bases, sheets and others. It develops its products, through its proprietary gel technology, Hyper-Elastic Polymer. It has three mattress collections: Essentials, including the New Day, The Purple Mattress and The Purple Plus; Premium, including Restore, RestorePlus and RestorePremier, and Luxe, including Rejuvenate, RejuvenatePlus and RejuvenatePremier. It sells eight pillow models: The Purple Harmony Pillow, the Purple Freeform Pillow, the Purple DreamLayer Pillow, the Purple Harmony Anywhere Pillow, the Purple Pillow, the Purple Twin Cloud Pillow, the Purple Cloud Pillow and the Kids Pillow. It sells two types of sheets and pillowcases: Softstretch and Complete Comfort. Its Purple PerfectStay Duvet cover offers a patent-pending lay-and-zip design. It has two types of bases: The Purple Premium and Purple Premium Plus smart.
PURPLE INNOVATION, INC. 
