Purple Innovation, Inc. (PRPL) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

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 122,95533,47812,232220
Cash and cash equivalents 122,95533,47812,232220
Receivables 29,11128,69210,241 
Inventory, net of allowances, customer advances and progress billings 65,72647,62822,940 
Inventory 65,72647,62822,940 
Prepaid expense    10
Other current assets 10,4533,4421,494 
Other undisclosed current assets 826879790 
Total current assets: 229,071114,11947,697230
Noncurrent Assets
Operating lease, right-of-use asset 41,408 
Property, plant and equipment 61,48631,97922,514 
Intangible assets, net (including goodwill) 9,9451,1011,493 
Intangible assets, net (excluding goodwill) 9,9451,1011,493 
Assets held-in-trust    122,051
Deferred income tax assets 211,244 
Other noncurrent assets 1,5785255 
Total noncurrent assets: 325,66133,60524,012122,051
TOTAL ASSETS: 554,732147,72471,709122,281
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 101,01563,79633,4201,201
Accounts payable 69,59450,24024,828659
Accrued liabilities 11,197 363212
Employee-related liabilities 14,2097,9542,691 
Taxes payable 6,0155,6025,538330
Debt 2,004 32 
Due to related parties    600
Other liabilities 13,5839,540  
Other undisclosed current liabilities 15,60613,52915,125 
Total current liabilities: 132,20886,86548,5771,801
Noncurrent Liabilities
Long-term debt and lease obligation, including: 92,35035,39921,411 
Long-term debt, excluding current maturities 43,4148,570  
Operating lease, liability 48,936 
Other undisclosed long-term debt and lease obligation  26,82921,411 
Liabilities, other than long-term debt 6,5035,1003,6164,000
Accounts payable and accrued liabilities   1,116 
Deferred compensation liability, classified    4,000
Deferred rent credit  5,1002,500
Other liabilities 6,503   
Other undisclosed noncurrent liabilities 256,13025,092(21,295) 
Total noncurrent liabilities: 354,98365,5913,7324,000
Other undisclosed liabilities   21,411 
Total liabilities: 487,191152,45673,7205,801
Temporary equity, carrying amount    111,480
Stockholders' equity
Stockholders' equity attributable to parent, including: 67,197(2,354)(662)5,000
Additional paid in capital 333,0475,9903,6556,827
Accumulated deficit (265,856)(8,349)(4,322)(1,827)
Other undisclosed stockholders' equity attributable to parent 655 
Stockholders' equity attributable to noncontrolling interest 344(2,378)(1,349) 
Total stockholders' equity: 67,541(4,732)(2,011)5,000
TOTAL LIABILITIES AND EQUITY: 554,732147,72471,709122,281

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues 648,471428,358285,7912,500
Financial services revenue2,500
Cost of revenue
(Cost of Goods and Services Sold)
 (343,374)(239,387)(173,189) 
Gross profit: 305,097188,971112,6022,500
Operating expenses (233,871)(172,757)(129,496)(2,220)
Other undisclosed operating loss    (2,500)
Operating income (loss): 71,22616,214(16,894)(2,220)
Nonoperating income (expense) (344,755)(28,193)(2,720)3,429
Other nonoperating expense (344,755)(28,193)(2,720) 
Interest and debt expense (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: (279,311)(18,278)(23,347)1,209
Other undisclosed income from continuing operations before income taxes 5,7826,299  
Income (loss) from continuing operations before income taxes: (273,529)(11,979)(23,347)1,209
Income tax expense (benefit) 43,749(400) (406)
Income (loss) before gain (loss) on sale of properties: (229,780)(12,379)(23,347)803
Other undisclosed net income   3,733 
Net income (loss): (229,780)(12,379)(19,614)803
Net income (loss) attributable to noncontrolling interest (7,087)8,35215,292 
Net income (loss) available to common stockholders, diluted: (236,867)(4,027)(4,322)803

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss): (229,780)(12,379)(19,614)803
Comprehensive income (loss): (229,780)(12,379)(19,614)803
Comprehensive income (loss), net of tax, attributable to noncontrolling interest (7,087)8,35215,292 
Comprehensive income (loss), net of tax, attributable to parent: (236,867)(4,027)(4,322)803

Statements sources

The financial statements are based on the company's filings with the 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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