Purple Innovation, Inc. reported second quarter 2026 financial results on August 10, 2026. Net revenue decreased 6.5% to $98.3 million from $105.1 million in the prior-year period, driven by a 19.1% decline in wholesale revenue partially offset by a 16.6% increase in showroom revenue. The company reported a GAAP net loss of $3.2 million and adjusted EBITDA of $2.1 million, both representing significant improvements year-over-year due to cost discipline and tariff refunds. Management lowered full-year 2026 revenue guidance to a range of $420 million to $440 million but maintained an adjusted EBITDA outlook of $20 million to $25 million. Additionally, the company confirmed it regained compliance with Nasdaq's minimum bid price requirement subsequent to the quarter end. Purple Innovation operates in the home furnishings industry, designing and selling mattresses, pillows, and bedding products.

Purple Innovation, Inc. received a decision from the Nasdaq Hearings Panel granting a request for continued listing, contingent upon the company demonstrating a closing bid price of at least $1.00 per share for ten consecutive trading days by July 31, 2026. To support its compliance plan, the company executed a 1-for-25 reverse stock split effective prior to the market opening on July 20, 2026. Following the split, the common stock opened trading at $7.12 per share. Failure to meet the specified price requirements may result in delisting from the Nasdaq Stock Market. Purple Innovation, Inc. is a technology company specializing in advanced foam products.

Purple Innovation, Inc. filed a Certificate of Amendment with the Delaware Secretary of State on July 16, 2026, to implement a 1-for-25 reverse stock split. The split becomes effective at 11:59 pm ET on July 19, 2026, with split-adjusted trading beginning on the Nasdaq Global Select Market on July 20, 2026. Every 25 shares of Class A and Class B common stock will be converted into one share, with fractional shares rounded up to the next whole number. Post-split, there will be approximately 4,353,026 Class A and 6,522 Class B shares outstanding. The company operates in the sleep products industry, designing and selling mattresses and bedding accessories.

Purple Innovation, Inc. stockholders approved a reverse stock split of Class A and Class B common stock at a ratio between 1-for-10 and 1-for-30, as determined by the Board of Directors. Additionally, the Board and CEO Robert T. DeMartini entered into an amendment to his employment agreement, granting him eligibility for an incremental $1,000,000 cash bonus with a multi-stage vesting-schedule. Purple Innovation, Inc. develops and manufactures high-performance medical device components for the healthcare industry.