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Purple Innovation Soars 22.31% on Mixed Q1 Results
Generated by AI AgentAinvest Movers Radar
Wednesday, May 7, 2025 5:10 am ET1min read
Purple Innovation's stock surged 22.31% in pre-market trading on May 7, 2025, marking a significant rise that has caught the attention of investors and analysts alike.
Purple Innovation reported its first-quarter 2025 results, revealing a 13.2% decline in net revenue to $104.2 million compared to the same period last year. This decrease was attributed to reduced demand in wholesale and e-commerce channels. Despite the revenue drop, the company's showroom revenue grew by 7%, with comparable sales increasing by 11%. Additionally, adjusted EBITDA saw an $8 million increase, indicating improved operational efficiency.
The company's performance was in line with revenue expectations but fell short of street forecasts. The net loss for the quarter was $19.1 million, or 18 cents per share, which exceeded Wall Street expectations of a 14 cents per share loss.
expects full-year revenue to range between $465 million and $485 million, reflecting a cautious outlook amidst the challenging market conditions.
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