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Purple Innovation ( (PRPL) ) has shared an update.
Purple Innovation announced a revision to its full year 2024 guidance, expecting net revenue between $486 million and $488 million and adjusted EBITDA between $(23) million and $(21) million, reflecting challenges in the macro environment. The company also projects positive cash flow and adjusted EBITDA in the fourth quarter, marking progress in its Path to Premium Sleep strategy. Purple’s management team, including CEO Robert T. DeMartini, will participate in the ICR Conference, where they are expected to discuss the company’s fiscal performance and outlook, providing further insights to stakeholders.
More about Purple Innovation
Purple Innovation, Inc. is a leading premium mattress company known for its innovative GelFlex® Grid technology, which is designed to provide restorative sleep by adapting to movement, balancing temperature, relieving pressure, and offering support. Their products, including mattresses, pillows, cushions, and more, are available online, in Purple stores, and through over 3,000 retailers nationwide.
YTD Price Performance: 14.42%
Average Trading Volume: 354,824
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $92.34M
Learn more about PRPL stock on TipRanks’ Stock Analysis page.
