Purple Innovation (NASDAQ: PRPL) reported Q4 EPS of ($0.12), $0.02 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $78.5 million versus the consensus estimate of $77.1 million.

• Net revenue increased 24.5% to $78.5 million, compared to $63.0 million.
• Gross margin was 34.2% compared to 41.1%.
• Operating expenses as a percent of net revenue were 40.8% compared to 48.3%.
• Operating loss was $(5.2) million compared to an operating loss of $(4.5) million. Adjusted operating loss was $(4.3) million compared to an adjusted operating loss of $(3.4) million.
• Net loss was $(5.4) million compared to a net loss of $(4.6) million.
• EBITDA was $(4.5) million compared to $(4.2) million. Adjusted EBITDA was $(3.7) million compared to $(3.2) million.

"We made meaningful progress throughout the fourth quarter preparing the Company to deliver improved results going forward," said Joe Megibow, Chief Executive Officer. "This included addressing identified inefficiencies in our manufacturing, supply chain and delivery processes, and rightsizing our headcount. At the same time, we began development of a new branding campaign that will better showcase Purple's premium positioning and help further distinguish our differentiated product offering from the competition. The consumer demand we experienced for our mattresses in the fourth quarter fueled by our expanded brick and mortar presence was encouraging and provided the business with good momentum heading into 2019. While there is still much work to be done, the entire organization is fully focused on ensuring we capitalize on the many opportunities ahead of us in a manner that drives profitable growth and increased shareholder value over the long-term."

GUIDANCE:

Purple Innovation sees FY2019 revenue of $350-375 million, versus the consensus of $364.3 million.

• Adjusted EBITDA to be in the range of $3 million to $8 million

For earnings history and earnings-related data on Purple Innovation (PRPL) click here.