Purple Innovation, Inc. (PRPL) Financial Statements (2024 and earlier)

Company Profile

Business Address 4100 N. CHAPEL RIDGE RD
LEHI, UT 84043
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 251 - Household Furniture (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 41,75491,616122,95533,47812,232220
Cash and cash equivalents 41,75491,616122,95533,47812,232220
Receivables34,56625,43029,11128,69210,241 
Inventory, net of allowances, customer advances and progress billings73,19798,69065,72647,62822,940 
Inventory73,19798,69065,72647,62822,940 
Prepaid expense7,821    10
Other current assets4,1175,70210,4533,4421,494 
Other undisclosed current assets 8,064826879790 
Total current assets:161,455229,502229,071114,11947,697230
Noncurrent Assets
Operating lease, right-of-use asset102,54168,03741,408 
Property, plant and equipment136,673112,61461,48631,97922,514 
Intangible assets, net (including goodwill)31,11813,2049,9451,1011,493 
Goodwill 4,897     
Intangible assets, net (excluding goodwill)26,22113,2049,9451,1011,493 
Asset, held-in-trust      122,051
Deferred income tax assets  217,791211,244 
Other noncurrent assets1,5461,3221,5785255 
Total noncurrent assets:271,878412,968325,66133,60524,012122,051
TOTAL ASSETS:433,333642,470554,732147,72471,709122,281
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities56,110112,265101,01563,79633,4201,201
Taxes payable4,6726,0155,6025,538330
Employee-related liabilities8,92814,2097,9542,691 
Accounts payable46,44179,75269,59450,24024,828659
Accrued liabilities9,66918,91311,197 363212
Debt 3,9142,004 32 
Deferred compensation liability  330    
Due to related parties     600
Other liabilities8,13013,47013,5839,540  
Other undisclosed current liabilities33,07112,03515,60613,52915,125 
Total current liabilities:97,311142,014132,20886,86548,5771,801
Noncurrent Liabilities
Long-term debt and lease obligation, including:17,876177,56992,35035,39921,411 
Long-term debt, excluding current maturities17,87696,41043,4148,570  
Other undisclosed long-term debt and lease obligation    26,82921,411 
Liabilities, other than long-term debt135,57312,0616,5035,1003,6164,000
Accounts payable and accrued liabilities    1,116 
Deferred compensation liability, classified      4,000
Deferred rent credit    5,1002,500
Asset retirement obligations2,098     
Other liabilities17,87612,0616,503   
Operating lease, liability115,59981,15948,936 
Other undisclosed liabilities, other than long-term debt      
Other undisclosed noncurrent liabilities3,683164,285256,13025,092(21,295) 
Total noncurrent liabilities:157,132353,915354,98365,5913,7324,000
Other undisclosed liabilities     21,411 
Total liabilities:254,443495,929487,191152,45673,7205,801
Temporary equity, carrying amount      111,480
Equity
Equity, attributable to parent, including:177,961145,77367,197(2,354)(662)5,000
Common stock 97    
Additional paid in capital529,466407,591333,0475,9903,6556,827
Accumulated deficit(351,514)(261,825)(265,856)(8,349)(4,322)(1,827)
Other undisclosed equity, attributable to parent  655 
Equity, attributable to noncontrolling interest929768344(2,378)(1,349) 
Total equity:178,890146,54167,541(4,732)(2,011)5,000
TOTAL LIABILITIES AND EQUITY:433,333642,470554,732147,72471,709122,281

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues575,692726,227648,471428,358285,7912,500
Financial services revenue2,500
Cost of revenue(365,110)(431,253)(343,374)(239,387)(173,189) 
Cost of goods and services sold  (431,253)(343,374)(239,387)(173,189) 
Gross profit:210,582294,974305,097188,971112,6022,500
Operating expenses(250,845)(318,324)(233,871)(172,757)(129,496)(2,220)
Other undisclosed operating loss      (2,500)
Operating income (loss):(40,263)(23,350)71,22616,214(16,894)(2,220)
Nonoperating income (expense)163,20026,004(344,755)(28,193)(2,720)3,429
Other nonoperating income (expense)163,20026,004(344,755)(28,193)(2,720) 
Interest and debt expense1,421(1,872)(5,782)(6,299)(3,733)(107)
Other undisclosed income from continuing operations before equity method investments, income taxes      107
Income (loss) from continuing operations before equity method investments, income taxes:124,358782(279,311)(18,278)(23,347)1,209
Other undisclosed income from continuing operations before income taxes 1,8725,7826,299  
Income (loss) from continuing operations before income taxes:124,3582,654(273,529)(11,979)(23,347)1,209
Income tax expense (benefit)(212,864)1,21743,749(400) (406)
Income (loss) from continuing operations:(88,506)3,871(229,780)(12,379)(23,347)803
Income (loss) before gain (loss) on sale of properties:(8,779)(229,780)(12,379)(23,347)803
Loss from discontinued operations  (12,650)    
Other undisclosed net income (loss)(1,421)12,650  3,733 
Net income (loss):(89,927)3,871(229,780)(12,379)(19,614)803
Net income (loss) attributable to noncontrolling interest238160(7,087)8,35215,292 
Net income (loss) attributable to parent:(89,689)4,031(236,867)(4,027)(4,322)803
Preferred stock dividends and other adjustments      
Other undisclosed net loss available to common stockholders, basic      
Net income (loss) available to common stockholders, basic:(89,689)4,031(236,867)(4,027)(4,322)803
Other undisclosed net income (loss) available to common stockholders, diluted (24,214)    
Net income (loss) available to common stockholders, diluted:(89,689)(20,183)(236,867)(4,027)(4,322)803

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(89,927)3,871(229,780)(12,379)(19,614)803
Other comprehensive income 312     
Other undisclosed comprehensive income      
Comprehensive income (loss):(89,615)3,871(229,780)(12,379)(19,614)803
Comprehensive income (loss), net of tax, attributable to noncontrolling interest238160(7,087)8,35215,292 
Comprehensive income (loss), net of tax, attributable to parent:(89,377)4,031(236,867)(4,027)(4,322)803

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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