Purple Innovation (NASDAQ: PRPL) reported Q4 EPS of ($0.35), $0.08 worse than the analyst estimate of ($0.27). Revenue for the quarter came in at $186.4 million versus the consensus estimate of $178.99 million.

GUIDANCE:

Purple Innovation sees FY2022 revenue of $790-830 million, versus the consensus of $808 million.

• For 2022, the Company currently expects full year revenue to be in the range of $790 to $830 million, an increase of 8% to 14% over 2021 results. Adjusted EBITDA for 2022 is expected to be between $26 million and $33 million, compared with 2021 adjusted EBITDA of $11.0 million. The Company expects its performance to improve as it progresses through the year with sequential improvements each quarter as it benefits from the strategies currently being implemented aimed at improving execution and strengthening margins, elevating the Purple brand, further developing and expanding distribution channels and accelerating product innovation.

Purple Innovation sees Q1 2022 revenue of $125-135 million, versus the consensus of $195 million.

• For the first quarter of 2022, the Company currently expects revenue to be in the range of $125 to $135 million and adjusted EBITDA between $(26) million and $(20) million. First quarter 2022 adjusted EBITDA is projected to be similar to the fourth quarter 2021 on much lower sales volumes, reflecting the early progress on reducing expenses and the shift in consumer traffic back more heavily to brick and mortar retail where the Company's presence and capabilities to capture demand are currently less developed.

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