Purple Innovation Company profile
About Purple Innovation Inc
Purple Innovation, Inc. is a provider of comfort solutions. The Company designs and manufactures a range of branded comfort products, including mattresses, pillows, cushions, bases, sheets, and other products. It has designed the Hyper-Elastic Polymer material, Purple Grid structure, and other comfort technologies in order to improve the lives of customers. The Company's No Pressure Purple Grid technology is used in all Purple mattresses. Its mattresses utilize the benefits of the Purple Grid creating a sleep solution that is breathable to help regulate body temperature and soft enough to cradle pressure points, while also providing support through localized buckling columns. It sells four types of pillows: The Purple Harmony Pillow, the Purple Pillow, the Purple Plush Pillow and the Kids Pillow. The Company markets and sells its products through direct-to-consumer online channels, traditional wholesale partners, third-party online retailers, and Company showrooms.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Purple Innovation Inc revenues increased 12% to $726.2M. Net income totaled $4M vs. loss of $236.9M. Revenues reflect Bedding segment increase of 11% to $664.5M. Net Income reflects Change in fair value - warrant liabiliti increase from $300.1M (expense) to $24.1M (income). Basic Earnings per Share excluding Extraordinary Items increased from -$6.04 to $0.06.
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