Purple Innovation reports Q2 adjusted EPS (11c), consensus (12c)

Reports Q2 revenue $105.1M, consensus $103.69M. “We are pleased with our second quarter performance, which reflects our disciplined execution and continued progress as we build a premium, sustainable, and profitable brand,” said Rob DeMartini, CEO of Purple Innovation (PRPL). “Revenue and profit exceeded our expectations, delivering sequential improvement, where strong demand from consumers and partners has temporarily outpaced our ability to fulfill orders.” DeMartini continued, “We are seeing strong validation of our brand and innovation strategy, led by the breakthrough success of our Rejuvenate 2.0 collection — the first product to incorporate our new DreamLayer grid technology layered on top of our core GelFlex grid platform. We’re also building significant momentum through our ongoing expansion with Mattress Firm, which remains on track, and through deepening relationships with partners such as Walmart and Costco, alongside strong and growing interest from both traditional and non-traditional partners. These initiatives are fueling momentum across our business and advancing our long-term Path to Premium Sleep strategy. With third quarter revenue-to-date up in the mid-single digits range versus the same period last year, we remain confident in our ability to drive profitable growth and create shareholder value.”