Purple Innovation Cuts Annual Revenue Outlook Below View On Weak Macro Environment

Purple Innovation

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(RTTNews) - Purple Innovation, Inc. (PRPL), a maker of comfort products, such as mattresses, pillows, bedding, and others, on Monday revised down its annual revenue guidance, citing a challenging macro environment.

Rob DeMartini, CEO of Purple Innovation, said, "We continued to navigate a challenging macro environment through the end of 2024. 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."

Excluding items, for the full year, the company now expects EBITDA of negative $23 million to negative $21 million, compared with prior guidance of negative $20 million to negative $10 million.

Annual revenue is now anticipated to be in the range of $486 million to $488 million, lower than earlier expectations of $490 million to $510 million.

Analysts, on average, expect the firm to post annual revenue of $489.5 million.