Purple Innovation Reports Record First Quarter 2021 Results
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Purple Innovation (PRPL) Tops Q1 EPS by 7c, Revenues Beat; Raises FY21 Revenues Mid-Point Guidance Above Consensus, 2Q Revs. View Above Consensus
May 17, 2021 7:05 AM EDTPurple Innovation (NASDAQ: PRPL) reported Q1 EPS of $0.17, $0.07 better than the analyst estimate of $0.10. Revenue for the quarter came in at $186.4 million versus the consensus estimate of $167.16 million.
First Quarter Financial Summary (Comparisons versus First Quarter 2020)1
Net revenue increased 52.3% to $186.4 million, compared to $122.4 million.Direct-to-Consumer (DTC) revenue increased 54.8%; Wholesale revenue increased 47.6%.Gross margin improved to 46.9% compared to 43.5%.Operating expenses as a percent of net revenue were 37.9% compared to 37.3%.Operating income increased 125.3% to $16.9 million compared to operating income of $7.5 million.Net income was $20.9... More