| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 95.73 | 8.1% |
| Total Income | 95.73 | 8.1% |
| Expenditure | 112.57 | 5.1% |
| PBT | -30.53 | 59.6% |
| Net Profit | -30.54 | 59.6% |
| OPM | -17.59% | 3.70pp |
| NPM | -31.90% | 13.53pp |
| EPS | -0.28 | 255.6% |
Purple Innovation Reports Q1 2026 Results, Net Revenue Down 8.1%
28 Apr 2026 · 28 Apr, 5:38 pm
Summary
Purple Innovation, Inc. announced first quarter 2026 financial results, reporting net revenue of $95.7 million, an 8.1% decrease year-over-year, primarily due to softness in e-commerce and lower wholesale revenue. Despite this, the company achieved a 7.0% increase in showroom comparable sales and maintained adjusted EBITDA at $(4.8) million. The quarter saw a net loss of $30.5 million. CEO Rob DeMartini noted improving consistency and solid performance in showroom and wholesale channels, with early benefits from disciplined execution. The company updated its full-year 2026 revenue outlook to $465 million to $485 million but reaffirmed its adjusted EBITDA guidance of $20 million to $30 million, anticipating improving performance in the second quarter.
Key Highlights
- 1
Purple Innovation, Inc. reported first quarter 2026 net revenue of $95.7 million, marking an 8.1% decrease compared to the first quarter of 2025.
- 2
Gross profit for the first quarter stood at $35.2 million, resulting in a gross margin of 36.8%.
- 3
The company experienced a net loss of $30.5 million for the first quarter of 2026, compared to a net loss of $19.1 million in the prior year.
- 4
Adjusted EBITDA for the first quarter was $(4.8) million, remaining flat compared to the same period last year.
- 5
Showroom comparable sales increased by 7.0%, achieving the third consecutive quarter of positive comparable sales.
- 6
Operating expenses decreased by 6.3% to $52.0 million in the first quarter, driven by ongoing cost savings initiatives.
- 7
The full-year 2026 revenue outlook was updated to a range of $465 million to $485 million, while the adjusted EBITDA guidance was maintained at $20 million to $30 million.
Management Comments
Rob DeMartini
During the first quarter, we continued to build on the progress we made at the end of last year, with improving consistency across our business and solid performance in our showroom and wholesale channels. While total sales were modestly down, ecommerce trends improved sequentially, and we are seeing early benefits from the more disciplined execution and the actions we’ve taken to strengthen the business.
Rob DeMartini
We are encouraged by the strong response to our premium portfolio, including early traction for Purple Royale at Mattress Firm and continued momentum in Rejuvenate 2.0, as we expand our wholesale partnerships and improve operating efficiency. As we enter the second quarter, we remain focused on driving growth through better consumer insight, differentiated innovation rooted in our GelFlex Grid technology, and expanded distribution, and believe that we are well positioned to deliver continued progress in 2026.
Robert (Bob) Lucian
I am excited to join Purple at this important time in its evolution. The Company has a strong brand, differentiated products, and meaningful opportunities ahead. I look forward to working with the team to execute against these opportunities and build on this foundation and drive sustainable growth and value for shareholders.
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