Purple Innovation Reports Record Third Quarter 2020 Results
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Purple Innovation (PRPL) Tops Q3 EPS by 3c, Revenues Beat
November 10, 2020 5:04 PM ESTPurple Innovation (NASDAQ: PRPL) reported Q3 EPS of $0.27, $0.03 better than the analyst estimate of $0.24. Revenue for the quarter came in at $187.1 million versus the consensus estimate of $175.46 million.
Third Quarter Financial Summary (Comparisons versus Third Quarter 2019)1
Net revenue increased 59.4% to $187.1 million, compared to $117.4 million.Direct-to-Consumer (DTC) revenue increased 97.5%; Wholesale revenue increased 6.9%Gross margin improved 220 basis points to 47.2% compared to 45.0%.Operating expenses as a percent of net revenue were 34.2% compared to 35.7%.Operating income increased 120.9% to $24.3 million compared to $11.0 million.Net loss was ($1.2) million compared to net... More