Purple’s 2nd-Quarter Gross sales Down However “Exceed Expectations” » BedTimes Journal

Specialty mattress producer Purple Innovation mentioned second-quarter gross sales slid 12.6% to $105.1 million, however the firm mentioned the determine exceeded expectations, coming amid the launch of its Rejuvenate 2.0 assortment and the rollout of its program with Mattress Agency.

The second-quarter internet loss totaled $17.3 million, or 16 cents per share. In the identical quarter final 12 months, Purple eked out a revenue of $27,000, which is break-even on a per-share foundation.

“We’re happy with our second quarter efficiency, which displays our disciplined execution and continued progress as we construct a premium, sustainable and worthwhile model,” mentioned Rob DeMartini, CEO. “Income and revenue exceeded our expectations, delivering sequential enchancment, the place sturdy demand from customers and companions has briefly outpaced our potential to satisfy orders.”

He attributed the gross sales decline to delays in Rejuvenation 2.0 shipments, a decline in retail doorways from 2024, and softness within the e-commerce sector.

“We’re seeing sturdy validation of our model and innovation technique, led by the breakthrough success of our Rejuvenate 2.0 assortment,” DeMartini mentioned. “We’re additionally constructing vital momentum by our ongoing growth with Mattress Agency, which stays on monitor, and thru deepening relationships with companions corresponding to Walmart and Costco, alongside sturdy and rising curiosity from each conventional and non-traditional companions.”

He mentioned revenues so far within the third quarter, which started July 1, are up mid-single digits in contrast with the identical interval final 12 months.

For the primary six months of 2025, gross sales totaled $209.3 million, down 12.9% from $240.3 million in the identical interval final 12 months.

The primary-half internet loss totaled $36.5 million, or 34 cents per share. That in contrast with a lack of $50.2 million, or 47 cents per share, within the first half of 2024.

The corporate affirmed 2025 monetary steering issued earlier this 12 months that requires revenues to be $465 million to $485 million, and EBITDA (earnings earlier than curiosity, taxes, depreciation and amortization) to vary from flat to a constructive $10 million.

The corporate mentioned it expects sequential progress within the second half of 2025, pushed by the Mattress Agency rollout and the Rejuvenate 2.0 launch.