The steep revenue guide-down overshadows EPS and EBITDA improvements — watch for further wholesale erosion and possible strategic alternatives update. The narrowed EBITDA guidance ($20-25M from $20-30M) provides a floor, but top-line recovery is needed to sustain confidence.
Price Chart
Executive Summary
Purple Innovation (PRPL) reported Q2 2026 revenue of $98.3M (-6.5% YoY), missing $102.4M consensus, and cut full-year revenue guidance sharply to $420-440M from prior $465-485M. Adjusted EPS of -$1.52 beat consensus of -$2.23, and GAAP net loss narrowed to -$3.2M from -$17.4M, aided by a $5.3M tariff refund. Despite cost progress, the steep guidance cut signals deepening wholesale demand weakness.
Key Financial Metrics
Key Facts
- Q2 2026 revenue declined 6.5% YoY to $98.3M, missing consensus of $102.4M
- Adjusted EPS of -$1.52 beat consensus of -$2.23 by 31.8%
- Full-year 2026 revenue guidance lowered to $420-440M (from $465-485M in Q1)
- Adjusted EBITDA turned positive at $2.1M vs -$2.4M YoY
- GAAP gross margin expanded 470bps to 45.2% due to $5.3M tariff refund
- Wholesale revenue fell 19.1% to $37.4M; DTC grew 3.4% (showroom +16.6%, e-commerce -1.4%)
- Regained Nasdaq minimum bid price compliance post-quarter
- Cash and equivalents $23.3M, operating cash flow YTD +$3.6M
- Reverse stock split completed: shares outstanding 4.35M vs 108.6M at Q1 end
Financial Impact
Revenue guidance cut by ~$45M from prior midpoint, implying ~11% reduction; EPS beat driven by tariff refund and cost cuts, not organic growth
Risk Factors
- Continued wholesale demand weakness across mattress industry
- Revenue guidance cut signals worsening visibility — may miss again
- High leverage: related-party debt $127M current, stockholder deficit -$63.8M
- Tariff refund benefit is non-recurring; gross margin may normalize lower
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-087318 |
| Document: ea0301257-8k_purple.htm | 0001213900-26-087318 |
| Document: 0001213900-26-087318-index-headers.html | 0001213900-26-087318 |
| Document: 0001213900-26-087318-index.html | 0001213900-26-087318 |
| Document: 0001213900-26-087318.txt | 0001213900-26-087318 |
| 8-K Data (Synthetic) | 0001213900-26-087318 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 22d ago | 8-K | $2.16 | awaiting T+20 | — | $3.07 (−42.13%) |
Aug 10, 2026 11w ago | 8-K | $7.25 $3.63 | ▲ +49.93% | ▲ +48.87% | $3.07 (+57.66%) |
Jul 16, 2026 14w ago | 8-K | $0.3101 $0.2640 | ▼ −14.87% | ▼ −18.48% | $3.07 (+890.00%) |
Jun 5, 2026 20w ago | 8-K | $0.3911 $0.3230 | ▲ +17.41% | ▲ +18.25% | $3.07 (−684.97%) |
Apr 28, 2026 26w ago | 8-K | $13.35 $10.48 | ▲ +21.54% | ▲ +26.98% | $3.07 (+77.00%) |
Mar 31, 2026 30w ago | 8-K | $0.6610 $0.5068 | ▼ −23.33% | ▼ −32.75% | $3.07 (+364.45%) |
US Market Status
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