Stock News Spotlight: Purple Innovation (NASDAQ:PRPL)

Purple Innovation (NASDAQ:PRPL) stock identified change of 180.48% away from 52-week low price and recently located move of -26.19% off 52-week high price. It has market worth of $638.83M. PRPL stock has been recorded -2.99% away from 50 day moving average and 38.12% away from 200 day moving average. Moving closer, we can see that shares have been trading -16.66% off 20-day moving average.

On March 09, 2020, Purple Innovation (NASDAQ:PRPL) a comfort innovation company known for creating the World’s First No Pressure ™ Mattress, disclosed results for the fourth quarter and year ended December 31, 2019.

Fourth Quarter Financial Summary (Comparisons versus Fourth Quarter 2018)1

  • Net revenue increased 58.3% to $124.3 million, compared to $78.5 million.
  • Gross margin was 47.7% compared to 34.2%.
  • Operating expenses as a percent of net revenue were 45.4% compared to 40.8%.
  • Operating income was $2.8 million compared to an operating loss of $(5.2) million. Adjusted operating income was $3.9 million compared to an adjusted operating loss of $(4.3) million.
  • Net loss was $(12.7) million compared to a net loss of $(5.4) million. The fourth quarter 2019 included a $13.4 million non-cash loss associated with the change in fair value of warrant liabilities.
  • EBITDA was $(9.3) million compared to $(4.5) million. Adjusted EBITDA was $5.8 million compared to $(3.7) million.

Full Year 2019 Financial Summary (Comparisons versus Full Year 2018) 1

  • Net revenue increased 49.9% to $428.4 million, compared to $285.8 million.
  • Gross margin increased 470 basis points to 44.1% compared to 39.4%.
  • Operating expenses as a percent of net revenue improved to 40.3% compared to 45.3%.
  • Operating income increased to $16.2 million compared to an operating loss of $(16.9) million. Adjusted operating income was $29.1 million compared to an adjusted operating loss of $(12.9) million.
  • Net loss was $(12.4) million compared to a net loss of $(19.6) million. 2019 included a $6.3 million non-cash expense associated with the loss on extinguishment of debt, a $16.8 million non-cash loss associated with the change in fair value of warrant liabilities and a $10.1 million non-cash stock based compensation expense.
  • EBITDA was $(3.0) million compared to $(14.7) million. Adjusted EBITDA was $33.4 million compared to $(10.7) million.

The Consumer Goods sector company, Purple Innovation noticed change of -7.75% to $11.78 along volume of 639528 shares in recent session compared to an average volume of 391.29K. The stock observed return of -15.01% in 5 days trading activity. The stock was at -11.69% over one month performance. PRPL’s shares are at 50.06% for the quarter and driving a 111.87% return over the course of the past year and is now at 35.25% since this point in 2018.

The average volatility for the week at 9.48% and for month was at 7.42%. There are 54.23M shares outstanding and 9.56M shares are floated in market. Right now the stock beta is -0.45.

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