Purple Innovation Logs $30.5M Q1 Loss, Cuts 2026 Revenue Guidance to $465–$485M
Purple Innovation reported a $30.5 million net loss in Q1, or $0.28 per share, on $95.7 million of revenue and an adjusted non-recurring loss of $0.13 per share. The company cut full-year revenue guidance to $465 million–$485 million and appointed former La-Z-Boy CFO Bob Lucian effective April 27.
1. Q1 Financial Results
Purple Innovation generated $95.7 million in net revenue for the first quarter, down 8.1% year-over-year after a $4.9 million accounting adjustment. The company recorded a net loss of $30.5 million, or $0.28 per share, and an adjusted non-recurring loss of $0.13 per share.
2. Revenue Guidance Update
Management trimmed full-year 2026 revenue guidance to $465 million–$485 million from the prior $500 million–$520 million range while reaffirming adjusted EBITDA guidance of $20 million–$30 million.
3. Channel Performance and Margins
Showroom comparable sales rose 7.0%, e-commerce trends improved sequentially, and early traction of Purple Royale at Mattress Firm supported premium segment momentum. Gross profit declined to $35.2 million (36.8% margin) from $41.0 million (39.4% margin) due to strategic floor model investments and lower production volumes.
4. CFO Transition
Robert Lucian, former La-Z-Boy CFO, joined Purple Innovation on April 27, replacing Todd Vogensen, who departs May 1 to pursue another opportunity. Lucian brings decades of finance leadership in consumer retail and manufacturing and is charged with driving operational discipline and long-term value creation.