Purple Innovation Revises Full Year 2024 Guidance; Company Announces Participation in the 2025 ICR Conference

Core Viewpoint - Purple Innovation, Inc. has revised its revenue and EBITDA outlook for the full year of 2024, expecting net revenue between $486 million and$488 million and adjusted EBITDA between $(23) million and$(21) million, while anticipating positive cash flow and adjusted EBITDA in the fourth quarter [1][2][3]. Financial Outlook - The current full year outlook for net revenue is set at $486 million to$488 million, down from the previous expectation of $490 million to$510 million [3]. - Adjusted EBITDA is now projected to be between $(23) million and$(21) million, a decrease from the earlier guidance of $(20) million to$(10) million [3]. Strategic Milestones - The CEO highlighted the importance of achieving positive cash flow and adjusted EBITDA in the fourth quarter as a significant milestone for the company's "Path to Premium Sleep" strategy [2]. Company Background - Purple is recognized as a leading premium mattress company, known for its GelFlex® Grid technology, which aims to enhance restorative sleep and reduce discomfort for various types of sleepers [5].