Purple Innovation Reports Record Second Quarter 2020 Results
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Purple Innovation (PRPL) Misses Q2 EPS by 30c, Revenues Miss
August 13, 2020 4:08 PM EDTPurple Innovation (NASDAQ: PRPL) reported Q2 EPS of ($0.11), $0.30 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $165.1 million versus the consensus estimate of $175.88 million.
Second Quarter Financial Summary (Comparisons versus Second Quarter 2019)1
Net revenue increased 60.3% to $165.1 million, compared to $103.0 million.
Direct-to-Consumer (DTC) revenue increased 127.9%; Wholesale revenue decreased 49.3%
Gross margin improved to 49.4% compared to 41.5%.Operating expenses as a percent of net revenue were 30.1% compared to 43.8%.Operating income was $32.0 million compared to operating loss of $(2.4) million.Net loss was $(5.8) million compared to a net loss of... More