Purple Innovation Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St

November 06, 2024

Purple Innovation (NASDAQ:PRPL) Third Quarter 2024 Results

Key Financial Results

Revenue: US$118.6m (down 15% from 3Q 2023).
Net loss: US$39.2m (loss widened by 9.0% from 3Q 2023).
US$0.36 loss per share (further deteriorated from US$0.34 loss in 3Q 2023).

earnings-and-revenue-growth — NasdaqGS:PRPL Earnings and Revenue Growth November 6th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Purple Innovation Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates significantly.

Looking ahead, revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Consumer Durables industry in the US.

Performance of the American Consumer Durables industry.

The company's shares are down 9.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Purple Innovation you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.