8-K - Purple Innovation, Inc. (0001643953) (Filer)

8-K - Purple Innovation, Inc. (0001643953) (Filer)

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8-K - Purple Innovation, Inc. (0001643953) (Filer)

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8-K - Purple Innovation, Inc. (0001643953) (Filer)

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 Restructuring Initiatives are On Track and Delivering Significant Margin Improvement GAAP Gross Margin of 29.7%; Adjusted Gross Margin Improved 340bps versus Last Year to 40.5% Adjusted EBITDA Loss Narrowed Notably to $(6.4) Million versus $(16.3) Million Last Year LEHI, Utah, Nov. 4, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced results for the third quarter ended September 30, 2024. "While our third quarter revenue was challenged, we are encour

LEHI, Utah, Oct. 28, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," will report third quarter 2024 financial results on Monday, November 4, 2024 at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results. Investors and analysts interested in participating in the call are invited to dial 844-481-1976 (domestic) or 412-317-0642 (international). The conference call will also be available to interest

Actions will expedite Grid innovation and deliver cost synergies Anticipated to generate $15 to $20 million in EBITDA benefit in 2025 LEHI, Utah, Aug. 22, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company with the #1 Gel Grid technology in the world, today announced the consolidation of its mattress production operations into its McDonough, Georgia facility, and the corresponding closure of two manufacturing facilities in Salt Lake City and Grantsville, Utah. The closure of the Utah manufacturing facilities is expected to be completed during the first quarter of 2025 and the consolidation into the McDonough, Georgia facility is expected to b

LEHI, Utah, Aug. 5, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced results for the second quarter ended June 30, 2024. Second Quarter Financial Summary (Comparisons versus Second Quarter 2023)1 Net revenue increased 2.0% to $120.3 million compared to $117.9 million.Wholesale revenue increased 7.2% and Direct-to-Consumer (DTC) revenue decreased 1.8%.Gross margin increased to 40.7% compared to 30.1%.Operating expenses were $63.5 million, or 52.8% of

LEHI, Utah, July 25, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report second quarter 2024 financial results on Monday, August 5, 2024, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results. Investors and analysts interested in participating in the call are invited to dial (844) 825-9789 (domestic) or (412) 317-5180 (international). The conference call will also be available to inte

LEHI, Utah, June 4, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple") a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced that the Company will make a presentation at the Oppenheimer 24th Annual Consumer Growth & E-Commerce Conference.   The presentation is scheduled for Monday, June 10, 2024 at 10:30 a.m. Eastern Time. The presentation will be simultaneously broadcast on the internet and available at https://investors.purple.com/.                            About Purple Purple, the leading premium mattress company with the #1 Gel Grid technology in the world, the GelFlex® Grid, thoughtfully engineers products that

LEHI, Utah, May 7, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL), a comfort innovation company known for creating the "World's First No Pressure ™ Mattress," today announced results for the 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.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 38.0%.Operating ex

LEHI, Utah, April 30, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report first quarter 2024 financial results on Tuesday, May 7, 2024, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results. Investors and analysts interested in participating in the call are invited to dial (888) 396-8049 (domestic) or (416) 764-8646 (international). The conference call will also be available to intere

CFO Todd Vogensen and CLO Tricia McDermott Received Inducement Grants LEHI, Utah, March 14, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced the Todd Vogensen, Chief Financial Officer, and Tricia McDermott, Chief Legal Officer received equity grants. These inducement grants were originally granted in connection with each officer's initial employment offer in October 2023, but delayed for official granting until the post-2024 earnings call open window period The grants consist of performance share units (PSUs) and restricted share units (RSUs). The PSUs have a three

LEHI, Utah, March 13, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that the management team is participating in the 36th Annual ROTH Conference.  A fireside chat presentation is scheduled for Monday, March 18, 2024 at 2:00 p.m. Pacific Time. The presentation will be simultaneously broadcast on the internet and available at https://investors.purple.com/. About Purple Purple, the leading premium mattress company with the #1 Gel Grid technology in

Tempur Sealy International, Inc. (NYSE:TPX) faces a roadblock as the Federal Trade Commission (FTC) voted unanimously to block its proposed $4 billion acquisition of Mattress Firm Group Inc. The merger, which would combine the world’s largest mattress manufacturer with the nation’s largest mattress retailer, has raised significant competition concerns, per the regulator. The FTC issued an administrative complaint and filed a lawsuit to halt the acquisition, alleging that Tempur Sealy’s acquisition of Mattress Firm would suppress competition and raise prices for millions of consumers. The merger would grant the combined company enormous control over the mattress supply chain, integra

Gainers Delta Apparel (AMEX:DLA) stock rose 11.2% to $0.72 during Friday's pre-market session. The company's market cap stands at $5.0 million. Connexa Sports Techs (NASDAQ:YYAI) shares rose 9.86% to $0.47. The company's market cap stands at $19.2 million. Red Robin Gourmet Burgers (NASDAQ:RRGB) shares increased by 9.21% to $8.3. The company's market cap stands at $130.1 million. Purple Innovation (NASDAQ:PRPL) stock moved upwards by 7.34% to $0.96. The market value of their outstanding shares is at $102.7 million. ATRenew (NYSE:RERE) shares rose 4.78% to $2.19. The market value of their outstanding shares is at $485.5 million. CarParts.com (NASDAQ:PRTS) stock increased by 4.54% to $1.

Gainers Allurion Technologies (NYSE:ALUR) shares increased by 152.8% to $2.68 during Thursday's regular session. The company's market cap stands at $128.5 million. Zapp Electric Vehicles (NASDAQ:ZAPP) stock moved upwards by 114.7% to $2.92. The company's market cap stands at $9.1 million. MGO Global (NASDAQ:MGOL) stock moved upwards by 75.58% to $0.8. The market value of their outstanding shares is at $14.6 million. ToughBuilt Industries (NASDAQ:TBLT) shares moved upwards by 33.01% to $4.15. The market value of their outstanding shares is at $3.2 million. Lobo EV Technologies (NASDAQ:LOBO) stock increased by 22.5% to $2.45. The market value of their outstanding shares is at $20.0 millio

Gainers Genius Gr (AMEX:GNS) stock increased by 19.9% to $0.33 during Thursday's after-market session. The company's market cap stands at $65.1 million. Sypris Solutions (NASDAQ:SYPR) stock rose 7.87% to $1.78. The market value of their outstanding shares is at $40.5 million. Nerdy (NYSE:NRDY) shares moved upwards by 5.19% to $1.62. The company's market cap stands at $176.5 million. Kaixin Hldgs (NASDAQ:KXIN) stock rose 3.86% to $0.16. The company's market cap stands at $9.2 million. Purple Innovation (NASDAQ:PRPL) stock moved upwards by 3.41% to $1.21. The company's market cap stands at $130.0 million. Revolve Gr (NYSE:RVLV) stock increased by 3.12% to $18.5. The market value of their

Gainers Gap (NYSE:GPS) shares increased by 21.4% to $27.33 during Thursday's after-market session. The company's market cap stands at $10.2 billion. As per the press release, Q1 earnings came out today. VF (NYSE:VFC) stock rose 9.08% to $13.45. The market value of their outstanding shares is at $5.2 billion. Lixiang Education Hldg (NASDAQ:LXEH) stock moved upwards by 6.18% to $0.34. The company's market cap stands at $3.9 million. SRIVARU Holding (NASDAQ:SVMH) stock increased by 5.0% to $0.19. The market value of their outstanding shares is at $6.1 million. Jiuzi Hldgs (NASDAQ:JZXN) shares rose 4.86% to $0.34. The market value of their outstanding shares is at $40.6 million. Purple Inn

Purple Innovation (NASDAQ:PRPL) underwent analysis by 6 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 2 2 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 2 1 1 0 0 3M Ago 0 0 1 0 0 Analysts have recently evaluated Purple Innovation and provided 12-month price targets. The average target is $2.25, accompanied by a high estimate of $2.50 and a low estimate of $2.00. Witnessing a positive shif

Wedbush analyst Seth Basham reiterates Purple Innovation (NASDAQ:PRPL) with a Outperform and maintains $2.25 price target.

The Company is reiterating its 2024 outlook for full year Adjusted EBITDA between $(20) million and $(10) million. The Company still expects its quarterly revenue and adjusted EBITDA performance to improve sequentially as it progresses through the year with adjusted EBITDA projected to be positive for the second half of 2024.

Wedbush downgraded Purple Innovation from Outperform to Neutral and set a new price target of $1.10 from $1.75 previously

ROTH MKM upgraded Purple Innovation from Neutral to Buy and set a new price target of $2.50 from $2.00 previously

Craig Hallum upgraded Purple Innovation from Hold to Buy and set a new price target of $6.00 from $4.00 previously

BofA Securities reiterated coverage of Purple Innovation with a rating of Underperform and set a new price target of $4.50 from $5.50 previously

Truist reiterated coverage of Purple Innovation with a rating of Hold and set a new price target of $5.00 from $10.00 previously

B. Riley Securities reiterated coverage of Purple Innovation with a rating of Neutral and set a new price target of $6.00 from $9.00 previously

UBS reiterated coverage of Purple Innovation with a rating of Neutral and set a new price target of $6.50 from $10.00 previously

ROTH Capital downgraded Purple Innovation from Buy to Neutral and set a new price target of $6.00 from $10.00 previously

Keybanc reiterated coverage of Purple Innovation with a rating of Overweight and set a new price target of $16.00 from $22.00 previously

Wedbush reiterated coverage of Purple Innovation with a rating of Outperform and set a new price target of $10.00 from $20.00 previously

LEHI, Utah, Oct. 28, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," will report third quarter 2024 financial results on Monday, November 4, 2024 at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results. Investors and analysts interested in participating in the call are invited to dial 844-481-1976 (domestic) or 412-317-0642 (international). The conference call will also be available to interest

LEHI, Utah, July 25, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report second quarter 2024 financial results on Monday, August 5, 2024, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results. Investors and analysts interested in participating in the call are invited to dial (844) 825-9789 (domestic) or (412) 317-5180 (international). The conference call will also be available to inte

LEHI, Utah, April 30, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report first quarter 2024 financial results on Tuesday, May 7, 2024, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results. Investors and analysts interested in participating in the call are invited to dial (888) 396-8049 (domestic) or (416) 764-8646 (international). The conference call will also be available to intere

LEHI, Utah, Feb. 27, 2024 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report fourth quarter and full year 2023 financial results on Tuesday, March 12, 2024, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results.  Investors and analysts interested in participating in the call are invited to dial (844) 825-9789 (domestic) or (412) 317-5180 (international). The conference call will also be a

LEHI, Utah, Aug. 2, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report second quarter 2023 financial results on Wednesday, August 9, 2023, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results.  Investors and analysts interested in participating in the call are invited to dial (844) 825-9789 (domestic) or (412) 317-5180 (international). The conference call will also be available to i

LEHI, Utah, May 2, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report first quarter 2023 financial results on Wednesday, May 10, 2023, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results.  Investors and analysts interested in participating in the call are invited to dial (844) 825-9789 (domestic) or (412) 317-5180 (international). The conference call will also be available to inter

Company to Welcome New Directors to Board Adam Gray to Serve as Board Chair Gary DiCamillo to Continue to Serve as Lead Independent Director Company Will Redeem Cumulative Voting Proportional Representation Preferred Linked Stock Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that it has entered into a binding Memorandum of Understanding to establish a cooperative governance framework (the "Planned Cooperation Agreement") with Coliseum Capital Management, LLC (together with its managed funds and accounts, "Coliseum"), the largest stockholder of the Company o

LEHI, Utah, March 7, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report fourth quarter and full year 2022 financial results on Thursday, March 16, 2023, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results. Investors and analysts interested in participating in the call are invited to dial (877) 425-9470 (domestic) or (201) 389-0878 (international). The conference call will also be a

Issues Cumulative Voting Preferred Stock to Provide Purple Shareholders with the Ability to Obtain Proportional Representation on Company's Board of Directors Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced that the Special Committee of its Board of Directors (the "Board") has declared a dividend of one new Proportional Representation Preferred Linked Stock ("PRPLS") for each 100 shares of Purple common stock ("Common Stock") owned by Purple's shareholders. Each PRPLS will vote together with the Common Stock in the election of directors, and related matters, and car

LEHI, Utah, Nov. 3, 2022 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report third quarter 2022 financial results on Wednesday, November 9, 2022, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results.  Investors and analysts interested in participating in the call are invited to dial (888) 394-8218 (domestic) or (646) 828-8193 (international) and provide the Conference ID: 6449123. The con

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Megibow's Business Leadership and Extensive Industry Experience Will Propel Casper To Next Growth Phase Casper Sleep Inc., the award-winning sleep company, appoints Joe Megibow as CEO to lead the company into its next chapter of growth. Effective immediately, Megibow will succeed outgoing CEO Emilie Arel, who will be integral in the transition until March 1, 2024. "No other mattress brand has cultivated the level of customer trust and love that Casper has, and it's our time to leverage this unique position," said Joe Megibow, CEO of Casper. "This is the sleep brand pioneer that disrupted the industry, creating unmatched brand awareness in a sleepy category with a strong focus on innovat

McDermott Brings a Successful Track Record of Leading Legal Departments and Driving Intellectual Property Transactions at Several Multibillion Dollar Retail Brands LEHI, Utah, Sept. 27, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), the world leader in sleep innovation and inventor of GelFlex® Grid Technology, today announced the appointment of Tricia McDermott as its Chief Legal Officer, effective October 23, 2023. McDermott replaces Casey McGarvey who has served as Chief Legal Officer since the company was founded. McGarvey plans to take a step back f

Vogensen Brings a Successful Track Record Driving Results at Multi-Billion Dollar Retailers LEHI, Utah, Sept. 21, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), the world leader in sleep innovation and inventor of GelFlex® Grid Technology, today announced the appointment of Todd Vogensen as its Chief Financial officer, effective October 16, 2023. Vogensen replaces Bennett Nussbaum who has been serving as interim CFO since August 2021. CEO Rob DeMartini thanked Nussbaum "We are truly grateful for the tireless work Bennett has contributed to Purple over t

Kerby Brings a Successful Track Record of Retail Operations and Revenue-Driving Strategies LEHI, Utah, Jan. 13, 2023 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced the appointment of Scott Kerby as its Chief of Owned Retail, effective January 16, 2023. Kerby will report to CEO Rob DeMartini and oversee all aspects of Purple's owned retail operations, an integral part of Purple's future growth and long-range plans. "I am thrilled to welcome Scott Kerby

STAMFORD, Conn., Nov. 03, 2022 (GLOBE NEWSWIRE) -- The Lovesac Company (NASDAQ:LOVE) ("Lovesac" or the "Company"), the home furnishing brand best known for its Sactionals, The World's Most Adaptable Couch™, today announced that John Legg has been appointed as Chief Supply Chain Officer, effective October 31, 2022. In this role, Mr. Legg will be responsible for leading the vision, strategy, and operations of Lovesac's Supply Chain functions including manufacturing, planning, inventory, distribution and logistics. Mr. Legg has over 25 years of experience in Supply Chain management across retail, wholesale and direct-to-consumer businesses, with leadership roles spanning manufacturing, distr

Krausz Brings Significant Marketing Experience and a Track Record of Growing Revenue & EBITDA  LEHI, Utah, Oct. 18, 2022 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced the appointment of Keira Krausz as its Chief Marketing Officer, effective November 1, 2022. Krausz replaces Patrice Varni, who stepped down to pursue other interests. CEO Rob DeMartini thanked Varni: "We very much appreciate Patrice's contributions to Purple and wish her all the best with

 Haynor Brings Significant Supply Chain Experience and Track Record of Operational Efficiency  LEHI, Utah, May 3, 2022 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," today announced the appointment of Eric Haynor as its Chief Operating Officer, effective June 6, 2022. Mr. Haynor will oversee all aspects of the company's operations, playing a key role in supporting Purple's future growth plans through supply chain and manufacturing efficiency. "Eric's 30-year track reco

Dedicated to helping consumers get better sleep, Purple invests in senior leadership with eyes on future growth and expansion LEHI, Utah, March 22, 2022 /PRNewswire/ -- Purple Innovation, Inc (NASDAQ:PRPL) ("Purple" or the "Company"), a leader in comfort innovation and the creator of the renowned "World's First No Pressure® Mattress, with its proprietary GelFlex™ Grid," today announced the appointment of Jeff Hutchings as its first ever Chief Innovation Officer at its Lehi, UT headquarters, effective May 1, 2022. Hutchings will oversee strategy and operations of the company's product solutions, playing a leading role in supporting Purple's future growth plans and innovation acceleration.

LEHI, Utah, Dec. 13, 2021 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" or the "Company"), a comfort innovation company known for creating the "World's First No Pressure® Mattress", today announced that Robert T. DeMartini has been appointed as Acting Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. DeMartini succeeds Joseph B. Megibow, who is stepping down as Chief Executive Officer and a member of the Board. Mr. Megibow will serve as an advisor to the new CEO to ensure a smooth transition. "Purple's strategic direc

LEHI, Utah, Oct. 25, 2021 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ:PRPL) ("Purple"), a leader in comfort innovation and the creator of the renowned Purple® Mattress with its proprietary GelFlex Grid, today announced that Jack Roddy has been appointed as Chief People Officer, with responsibility for the company's human resources, company culture, talent acquisition and diversity, equity and inclusion efforts. "Jack Roddy brings a wealth of culture and organizational development experience to Purple after decades of working with highly respected brands," stated Purple CEO