Purple Innovation Third Quarter 2024 Earnings: Misses Expectations

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).

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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