Purple (NASDAQ:PRPL) Reports Q1 In Line With Expectations, Stock Jumps 20.3%
Bedding and comfort retailer Purple (NASDAQ:PRPL) met Wall Street's revenue expectations in Q1 CY2025, but sales fell by 13.2% year on year to $104.2 million. The company's full-year revenue guidance of $475 million at the midpoint came in 0.7% above analysts' estimates. Its non-GAAP loss of $0.11 per share was 23.3% above analysts' consensus estimates.
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Purple (PRPL) Q1 CY2025 Highlights:
Revenue: $104.2 million vs analyst estimates of $104.5 million (13.2% year-on-year decline, in line)
Adjusted EPS: -$0.11 vs analyst estimates of -$0.14 (23.3% beat)
Adjusted EBITDA: -$4.73 million vs analyst estimates of -$7.59 million (-4.5% margin, 37.7% beat)
The company reconfirmed its revenue guidance for the full year of $475 million at the midpoint
Adjusted EBITDA guidance for the full year of $5 million at the midpoint, well above expectations
Operating Margin: -13.9%, up from -19.3% in the same quarter last year
Free Cash Flow was -$25.31 million compared to -$19.85 million in the same quarter last year
Market Capitalization: $71.8 million
"Our first quarter performance reflects continued progress against our strategic priorities to stabilize and strengthen the business, and position Purple for long-term success," said Rob DeMartini, CEO of Purple Innovation.
Company Overview
Founded by two brothers, Purple (NASDAQ:PRPL) creates sleep and home comfort products such as mattresses, pillows, and bedding accessories.
Sales Growth
A company's long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Unfortunately, Purple struggled to consistently increase demand as its $472 million of sales for the trailing 12 months was close to its revenue five years ago. This wasn't a great result and is a sign of poor business quality.
Purple Quarterly Revenue
Long-term growth is the most important, but within consumer discretionary, product cycles are short and revenue can be hit-driven due to rapidly changing trends and consumer preferences. Purple's recent performance shows its demand remained suppressed as its revenue has declined by 6.3% annually over the last two years.
Purple Year-On-Year Revenue Growth
This quarter, Purple reported a rather uninspiring 13.2% year-on-year revenue decline to $104.2 million of revenue, in line with Wall Street's estimates.
Looking ahead, sell-side analysts expect revenue to grow 1.5% over the next 12 months. Although this projection implies its newer products and services will catalyze better top-line performance, it is still below the sector average.
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