PRPL Purple Innovation, Inc.

Overview and Growth

Purple Innovation, Inc. generated $468.73M of revenue in fiscal 2025, with net loss of $51.41M and an operating cash outflow of $33.83M. At $468.73M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 3.9% from $487.88M in fiscal 2024; this top-line contraction left the company with a smaller revenue base. On a per-share basis, diluted EPS was $0.48, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 47.3% decrease from fiscal 2024 diluted EPS of $0.91. Total assets stood at $296.26M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 1.58x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $188.56M as gross profit before recognizing operating expenses and other items. Gross profit represented 40.2% of revenue, showing how much of the top line remained after direct costs. The company recorded an operating loss of $43.03M after the reported operating expense base. The operating loss equaled 9.2% of revenue, showing the scale of the operating deficit relative to sales. The company ended the period with a net loss of $51.41M, extending the operating result through all remaining items. Net margin was -11.0%, reflecting a loss equal to 11.0% of reported revenue. The pretax result was a loss of $51.30M, establishing the deficit before tax effects. Pretax margin was -10.9%, reflecting a pre-tax loss equal to 10.9% of revenue. Income tax expense totaled $207.00K, providing the reported tax component that separates pretax and after-tax earnings. The net loss equaled 17.4% of period-end assets, showing the deficit relative to the asset base.

Liquidity and Capital Structure

Total assets were $296.26M, supported by $325.93M of liabilities and -$29.67M of shareholder equity. Equity was negative at -$29.67M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. At period end, current assets of $136.72M compared with current liabilities of $101.52M, defining the company’s short-term resource position. The current ratio was 1.35x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $24.34M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 24.0% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $126.68M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-assets relationship was 42.8%, comparing borrowing with the total asset balance. Liabilities represented 110.0% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 8.2% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 3.8% from $307.85M in fiscal 2024, leaving current total assets lower year over year. Against $20.21M of equity in fiscal 2024, the current book-equity balance moved 246.8% and ended lower. The reported cash balance changed 16.1% from $29.01M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $33.83M, showing that operations absorbed cash during the period. Capital expenditures used $8.08M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. The company recorded a $41.91M cash deficit after capital spending for the period. Relative to revenue, the post-investment cash deficit represented 8.9%. The free-cash-flow deficit equaled 14.1% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.