Business
Purple Innovation Revises Full Year 2024 Guidance; Company Announces Participation in the 2025 ICR Conference
Expects full year net revenue between $486 and $488 million and adjusted EBITDA between $(23) and $(21) million Expects positive cash flow and adjusted EBITDA
About this update from Purple Innovation, Inc.
[{"type":"text","content":"Expects full year net revenue between $486 and $488 million and adjusted EBITDA between $(23) and $(21) million\nExpects positive cash flow and adjusted EBITDA in the fourth quarter\nLEHI, Utah, Jan. 13, 2025 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) (\"Purple\"), a comfort innovation company known for creating the \"World's First No Pressure™ Mattress,\" today provided a business update, revising its revenue and EBITDA outlook for the full year of 2024.\n\n \n \n \n \n \n \n\n \n\"We continued to navigate a challenging macro environment through the end of 2024. Ahead of our presentation at the ICR conference, we are slightly adjusting our guidance to better reflect our full-year expectations. We also expect to deliver positive cash flow and adjusted EBITDA in the fourth quarter, which marks an important, positive milestone for our Path to Premium Sleep strategy,\" said CEO Rob DeMartini. \"We look forward to sharing a more detailed review of our results in the near future.\"\nFull Year 2024 Outlook\nCurrent Full Year Outlook\nPrevious Full Year Outlook (1)\nNet Revenue\n$486 million to $488 million\n$490 million to $510 million\nAdjusted EBITDA\n$(23) million to $(21) million\n$(20) million to $(10) million\n(1) Released November 4, 2024, expectation to be at the lower end of the guidance range.\nThe company is scheduled to participate in a fireside chat presentation on Monday, January 13, 2025, at 3:00 p.m. Eastern Time at the ICR conference. The presentation will be simultaneously broadcast on the internet and available at https://investors.purple.com/. An archived replay will be available two hours after the conclusion of the live event.\nAbout Purple \nPurple, the leading premium mattress company with the #1 Gel Grid technology in the world, the GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and in comfort technologies, Purple's GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets, and more, can be found online at Purple.com, in 58 Purple stores and over 3,0...