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Purple Innovation (PRPL) investor relations material

Purple Innovation Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary29 Jul, 2025

Executive summary

  • Q2 2025 revenue was $105.1M, down 12.6% year-over-year but up sequentially, with adjusted EBITDA improving by $1.8M and 120 basis points versus last year.

  • Net loss attributable to the company was $17.3M, compared to breakeven last year, mainly due to lower sales and gross profit.

  • Demand for Rejuvenate 2.0 exceeded expectations, outpacing supply, especially in showrooms, and more than doubled the Rejuvenate 1.0 launch in direct-to-consumer channels.

  • Gross margin fell to 35.9% due to tariffs and ramp-up costs, but mitigation plans and manufacturing efficiencies are expected to restore margins above 40% by year-end.

  • Strategic focus remains on innovation, premium positioning, and operational improvements, with strong early results from new product launches and marketing campaigns.

Financial highlights

  • Net revenue for Q2 2025 was $105.1M, down from $120.3M in Q2 2024.

  • Gross profit was $37.7M, with a gross margin of 35.9%, down 480 basis points year-over-year.

  • Adjusted net loss was $11.7M, improved from $13.8M last year; adjusted loss per share was $0.11 vs. $0.13.

  • Adjusted EBITDA loss was $2.4M, better than the $4.1M loss last year; adjusted EBITDA margin improved by 120 basis points.

  • Cash and equivalents at quarter-end were $34.2M, up from $29M at year-end 2024.

Outlook and guidance

  • Full-year 2025 revenue guidance reaffirmed at $465M–$485M, with adjusted EBITDA expected between breakeven and $10M.

  • Sequential revenue and margin growth anticipated in the second half, driven by Rejuvenate 2.0 and Mattress Firm expansion.

  • Gross margin expected to recover above 40% by Q4 as tariff mitigation and cost savings take effect.

  • Positive adjusted EBITDA projected for the back half of the year, with Q4 weighted improvements.

  • Mattress Firm expansion projected to generate $70M in annualized incremental net revenue starting in 2026.

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Frequently asked questions

Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions that include elevated cells of air. The cell structure design in the foam core allows person-specific shaping and support for alignment of the spine and important body parts, including hip and back bones. The company's mattress is made for both children and adults. Purple Innovation distributes its products through different websites. Purple Innovation, Inc. is based in Lehi, Utah.

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