#USA #Lehi #Purple Innovation #No Pressure Mattress #GelFlex Grid

Purple Innovation Updates 2024 Financial Forecast

Purple Innovation, Inc. (NASDAQ: PRPL), renowned for pioneering the 'World's First No Pressure™ Mattress', has revised its outlook for the financial year 2024, sharing essential updates regarding revenues and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The company anticipates net revenue between $486 million and $488 million, with adjusted EBITDA expected to be between $(23) million and $(21) million. This adjustment comes as Purple continues to navigate a challenging macroeconomic climate.

Current Financial Expectations

Last November, Purple had initially projected revenues between $490 million to $510 million, signaling a cautious optimism that has since been adjusted to better align with market realities. CEO Rob DeMartini noted, "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 reflect our full-year expectations more accurately."

Despite the overall challenging conditions, Purple forecasts positive cash flow and adjusted EBITDA in the fourth quarter, which represents a substantial achievement and an important milestone for the company's 'Path to Premium Sleep' strategy.

Upcoming Conference Participation

Purple Innovation is gearing up for the 2025 ICR Conference, with a scheduled fireside chat presentation on January 13, 2025, at 3:00 PM EST. During this event, Purple intends to share detailed insights into its financial performance and strategic direction. The conference presentation will be accessible via live stream, allowing investors and stakeholders an opportunity to engage with the company's updated vision and results.

The archived replay of the event will also be available two hours post-event on Purple's investor relations site, ensuring that all interested parties can stay informed. This proactive communication reflects Purple's commitment to transparency and engagement with its stakeholders.

About Purple Innovation

Purple is a leading innovator in the premium mattress sector, recognized for its advanced GelFlex® Grid technology, a significant leap in mattress performance. This unique material is engineered to provide support and alleviate pressure, drastically improving sleep quality for diverse sleep styles. Purple's offerings extend beyond mattresses to include pillows, cushions, frames, and sheets, accessible through their website and over 3,000 retail locations nationwide.

As Purple navigates the complexities of the current market, the company remains optimistic about its strategic initiatives aimed at enhancing customer comfort and satisfaction through ongoing product innovation. Their focus on restorative sleep through advanced sleep technologies positions them well for future growth and market leadership.

Conclusion

As Purple Innovation shares its revised financial outlook and prepares for the ICR conference, it demonstrates resilience and adaptability in the ever-evolving bedding industry. Stakeholders are encouraged to remain engaged as the company outlines its strategies and milestones for 2024 and beyond. Through these developmental phases, Purple aims not only to achieve but exceed expectations in delivering unparalleled sleep experiences to customers across the globe.