2022 Q4 Form 10-K Financial Statement

#000121390023021852 Filed on March 22, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021
Revenue $145.1M $575.7M $726.2M
YoY Change -22.16% -20.73% 11.99%
Cost Of Revenue $94.39M $365.1M $431.3M
YoY Change -22.47% -15.34% 25.58%
Gross Profit $50.73M $210.6M $295.0M
YoY Change -21.57% -28.61% -3.32%
Gross Profit Margin 34.96% 36.58% 40.62%
Selling, General & Admin $58.92M $242.1M $311.4M
YoY Change -37.53% -22.25% 36.63%
% of Gross Profit 116.14% 114.96% 105.56%
Research & Development $2.937M $8.755M $6.939M
YoY Change 94.63% 26.17% 15.65%
% of Gross Profit 5.79% 4.16% 2.35%
Depreciation & Amortization $5.282M $17.49M $9.473M
YoY Change 69.4% 84.6% 19.91%
% of Gross Profit 10.41% 8.3% 3.21%
Operating Expenses $61.85M $250.8M $318.3M
YoY Change -35.44% -21.2% 36.15%
Operating Profit -$11.12M -$40.26M -$23.35M
YoY Change -64.27% 72.43% -132.75%
Interest Expense -$967.0K $807.0K $22.18M
YoY Change -124.53% -96.36% -107.28%
% of Operating Profit
Other Income/Expense, Net $161.4M $162.4M $3.822M
YoY Change 4923.5% 4148.9% -111.18%
Pretax Income $149.3M $122.9M $2.654M
YoY Change -722.69% 4532.14% -100.97%
Income Tax $219.5M $212.9M -$1.217M
% Of Pretax Income 146.99% 173.15% -45.86%
Net Earnings -$70.13M -$89.69M $4.031M
YoY Change 225.53% -2324.98% -101.7%
Net Earnings / Revenue -48.32% -15.58% 0.56%
Basic Earnings Per Share -$1.10 $0.06
Diluted Earnings Per Share -$0.77 -$1.10 $59.89K
COMMON SHARES
Basic Shares Outstanding 81.78M shares 65.93M shares
Diluted Shares Outstanding 81.78M shares 67.30M shares

Balance Sheet

Concept 2022 Q4 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.75M $41.75M $91.62M
YoY Change -54.42% -54.42% -25.52%
Cash & Equivalents $41.75M $41.75M $91.62M
Short-Term Investments
Other Short-Term Assets $11.94M $11.94M $13.77M
YoY Change -13.28% -13.28% 21.82%
Inventory $73.20M $73.20M $98.69M
Prepaid Expenses $7.821M
Receivables $34.57M $34.57M $25.43M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $161.5M $161.5M $229.5M
YoY Change -29.65% -29.65% 0.18%
LONG-TERM ASSETS
Property, Plant & Equipment $239.2M $239.2M $180.7M
YoY Change 32.42% 32.42% 75.56%
Goodwill $4.897M
YoY Change
Intangibles $26.22M
YoY Change 98.58%
Long-Term Investments
YoY Change
Other Assets $1.546M $1.546M $219.1M
YoY Change -99.29% -99.29% 2.97%
Total Long-Term Assets $271.9M $271.9M $413.0M
YoY Change -34.16% -34.16% 26.83%
TOTAL ASSETS
Total Short-Term Assets $161.5M $161.5M $229.5M
Total Long-Term Assets $271.9M $271.9M $413.0M
Total Assets $433.3M $433.3M $642.5M
YoY Change -32.55% -32.55% 15.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.44M $46.44M $79.75M
YoY Change -41.77% -41.77% 14.59%
Accrued Expenses $38.29M $38.29M $47.70M
YoY Change -19.73% -19.73% -8.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $2.297M
YoY Change -100.0% -100.0% 14.85%
Total Short-Term Liabilities $99.42M $99.42M $142.0M
YoY Change -29.99% -29.99% 7.42%
LONG-TERM LIABILITIES
Long-Term Debt $21.55M $21.55M $94.11M
YoY Change -77.1% -77.1% 127.33%
Other Long-Term Liabilities $133.5M $133.5M $259.8M
YoY Change -48.62% -48.62% -17.15%
Total Long-Term Liabilities $155.0M $155.0M $353.9M
YoY Change -56.2% -56.2% -0.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $99.42M $99.42M $142.0M
Total Long-Term Liabilities $155.0M $155.0M $353.9M
Total Liabilities $255.4M $255.4M $496.7M
YoY Change -48.59% -48.59% 1.89%
SHAREHOLDERS EQUITY
Retained Earnings -$351.5M
YoY Change 34.26%
Common Stock $9.000K
YoY Change 28.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $178.0M $178.0M $145.8M
YoY Change
Total Liabilities & Shareholders Equity $433.3M $433.3M $642.5M
YoY Change -32.55% -32.55% 15.82%

Cashflow Statement

Concept 2022 Q4 2022 2021
OPERATING ACTIVITIES
Net Income -$70.13M -$89.69M $4.031M
YoY Change 225.53% -2324.98% -101.7%
Depreciation, Depletion And Amortization $5.282M $17.49M $9.473M
YoY Change 69.4% 84.6% 19.91%
Cash From Operating Activities $1.701M -$28.77M -$30.90M
YoY Change -105.48% -6.89% -138.03%
INVESTING ACTIVITIES
Capital Expenditures $4.102M $38.16M -$57.06M
YoY Change -126.36% -166.88% 45.78%
Acquisitions -$3.660M
YoY Change
Other Investing Activities $12.00K $3.660M
YoY Change
Cash From Investing Activities -$4.090M -$34.50M -$57.06M
YoY Change -73.72% -39.53% 45.78%
FINANCING ACTIVITIES
Cash Dividend Paid $100.0K
YoY Change
Common Stock Issuance & Retirement, Net $5.344M $98.38M $1.534M
YoY Change 1321.28% 6313.04% -96.83%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.00M 13.41M 56.62M
YoY Change -127.47% -76.31% 19.56%
NET CHANGE
Cash From Operating Activities 1.701M -28.77M -30.90M
Cash From Investing Activities -4.090M -34.50M -57.06M
Cash From Financing Activities -15.00M 13.41M 56.62M
Net Change In Cash -17.39M -49.86M -31.34M
YoY Change -317.36% 59.11% -135.02%
FREE CASH FLOW
Cash From Operating Activities $1.701M -$28.77M -$30.90M
Capital Expenditures $4.102M $38.16M -$57.06M
Free Cash Flow -$2.401M -$66.93M $26.16M
YoY Change -84.48% -355.9% -78.28%

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4142000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Profit Loss
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CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
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3366000 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
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166000 usd
CY2022 us-gaap Stock Issued During Period Value New Issues
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CY2022 us-gaap Stock Issued During Period Value Acquisitions
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CY2022 prpl Stock Issued During Period Tax Distribution
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Profit Loss
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CY2021 us-gaap Profit Loss
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3871000 usd
CY2020 us-gaap Profit Loss
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CY2022 us-gaap Depreciation Depletion And Amortization
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17487000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9473000 usd
CY2020 us-gaap Depreciation Depletion And Amortization
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CY2022 prpl Non Cash Interest
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1072000 usd
CY2021 prpl Non Cash Interest
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517000 usd
CY2020 prpl Non Cash Interest
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3105000 usd
CY2020 prpl Paidinkind Interest
PaidinkindInterest
6616000 usd
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
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-5782000 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2022 prpl Fair Value Warrant Liabilities
FairValueWarrantLiabilities
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CY2021 prpl Fair Value Warrant Liabilities
FairValueWarrantLiabilities
-24054000 usd
CY2020 prpl Fair Value Warrant Liabilities
FairValueWarrantLiabilities
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CY2022 us-gaap Income Tax Credits And Adjustments
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-161970000 usd
CY2021 us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
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CY2020 us-gaap Income Tax Credits And Adjustments
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34155000 usd
CY2022 us-gaap Share Based Compensation
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3366000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
3366000 usd
CY2020 us-gaap Share Based Compensation
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2185000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
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1421000 usd
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
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-213548000 usd
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
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3608000 usd
CY2020 us-gaap Increase Decrease In Deferred Income Taxes
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45812000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
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4112000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2020 us-gaap Increase Decrease In Accounts Receivable
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419000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-1757000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5047000 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
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7709000 usd
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
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2159000 usd
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
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CY2022 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Accounts Payable
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6796000 usd
CY2020 us-gaap Increase Decrease In Accounts Payable
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CY2022 prpl Increase In Accrued Sales Returns
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CY2021 prpl Increase In Accrued Sales Returns
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CY2020 prpl Increase In Accrued Sales Returns
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1157000 usd
CY2022 us-gaap Increase Decrease In Employee Related Liabilities
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-2892000 usd
CY2021 us-gaap Increase Decrease In Employee Related Liabilities
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CY2020 us-gaap Increase Decrease In Employee Related Liabilities
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6255000 usd
CY2022 prpl Increase Or Decrease In Customer Advances
IncreaseOrDecreaseInCustomerAdvances
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CY2021 prpl Increase Or Decrease In Customer Advances
IncreaseOrDecreaseInCustomerAdvances
4601000 usd
CY2020 prpl Increase Or Decrease In Customer Advances
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CY2022 prpl Accrued Rebates And Allowances
AccruedRebatesAndAllowances
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CY2021 prpl Accrued Rebates And Allowances
AccruedRebatesAndAllowances
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CY2020 prpl Accrued Rebates And Allowances
AccruedRebatesAndAllowances
5580000 usd
CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
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3816000 usd
CY2021 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2020 us-gaap Increase Decrease In Other Accrued Liabilities
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3398000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2785000 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
3121000 usd
CY2020 us-gaap Payments To Acquire Intangible Assets
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Proceeds From Bank Debt
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CY2020 us-gaap Repayments Of Related Party Debt
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CY2022 us-gaap Repayments Of Debt
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CY2021 us-gaap Repayments Of Debt
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CY2020 us-gaap Repayments Of Debt
RepaymentsOfDebt
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CY2021 us-gaap Proceeds From Lines Of Credit
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55000000 usd
CY2022 us-gaap Repayments Of Lines Of Credit
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CY2022 us-gaap Proceeds From Issuance Initial Public Offering
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CY2022 us-gaap Payments Of Stock Issuance Costs
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CY2021 us-gaap Proceeds From Warrant Exercises
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CY2020 us-gaap Proceeds From Warrant Exercises
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CY2022 us-gaap Proceeds From Stock Options Exercised
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CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2022 us-gaap Payments Of Debt Issuance Costs
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CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2460000 usd
CY2022 prpl Tax Receivable Agreement Payments
TaxReceivableAgreementPayments
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CY2021 prpl Tax Receivable Agreement Payments
TaxReceivableAgreementPayments
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CY2021 prpl Proceeds From Inno Hold Indemnification Payment
ProceedsFromInnoHoldIndemnificationPayment
4142000 usd
CY2021 prpl Distributions
Distributions
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CY2020 prpl Distributions
Distributions
-5487000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13412000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
56623000 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
47359000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
89477000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91616000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
122955000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33478000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41754000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91616000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
122955000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
2693000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
999000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
8167000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
303000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4645000 usd
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2060000 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
4162000 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
6443000 usd
CY2020 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
3305000 usd
CY2022 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
26106000 usd
CY2021 prpl Noncash Leasehold Improvements
NoncashLeaseholdImprovements
3238000 usd
CY2020 prpl Noncash Leasehold Improvements
NoncashLeaseholdImprovements
5147000 usd
CY2022 prpl Tax Distribution Payable
TaxDistributionPayable
228000 usd
CY2021 prpl Tax Distribution Payable
TaxDistributionPayable
401000 usd
CY2020 prpl Tax Distribution Payable
TaxDistributionPayable
668000 usd
CY2021 prpl Tax Receivable Agreement Liabilities
TaxReceivableAgreementLiabilities
760000 usd
CY2020 prpl Tax Receivable Agreement Liabilities
TaxReceivableAgreementLiabilities
137314000 usd
CY2021 prpl Deferred Income Taxes
DeferredIncomeTaxes
2937000 usd
CY2020 prpl Deferred Income Taxes
DeferredIncomeTaxes
165676000 usd
CY2021 prpl Exercise Of Liability Warrants
ExerciseOfLiabilityWarrants
64311000 usd
CY2020 prpl Exercise Of Liability Warrants
ExerciseOfLiabilityWarrants
252796000 usd
CY2022 prpl Common Units Percentage
CommonUnitsPercentage
0.995 pure
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassification</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain prior year amounts in the consolidated financial statements have been reclassified to conform to the current year presentation with no effect on previously reported net income (loss), cash flows or stockholders’ equity. The change in operating leases, previously reflected as two line items within cash flows from operating activities, is now presented on a net basis as a single line item within the changes in operating assets and liabilities section of the consolidated statement of cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires the Company to establish accounting policies and to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. The Company regularly makes significant estimates and assumptions including, but not limited to, estimates that affect revenue recognition, accounts receivable and allowance for doubtful accounts, valuation of inventories, sales returns, warranty returns, fair value of assets acquired and liabilities assumed in a business combination, warrant liabilities, stock based compensation, the recognition and measurement of loss contingencies, estimates of current and deferred income taxes, deferred income tax valuation allowances, and amounts associated with the Company’s Tax Receivable Agreement with InnoHold, LLC (“InnoHold”). Predicting future events is inherently an imprecise activity and, as such, requires the use of judgment. Actual results could differ materially from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">  </p>
CY2022 prpl Fair Value Of Effective Settlement Of Preexisting Relationships
FairValueOfEffectiveSettlementOfPreexistingRelationships
1672000 usd
CY2022 prpl Transaction Expenses Paid On Behalf Of Intellibed
TransactionExpensesPaidOnBehalfOfIntellibed
546000 usd
CY2022 prpl Due To Seller
DueToSeller
75000 usd
CY2022 prpl Total Purchase Consideration
TotalPurchaseConsideration
28300000 usd
CY2020 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
600000 usd
CY2022 prpl Cooperative Advertising Rebate And Other Promotion Programs Policy Text Bloc
CooperativeAdvertisingRebateAndOtherPromotionProgramsPolicyTextBloc
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cooperative Advertising, Rebate and Other Promotion Programs</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company enters into programs with certain wholesale partners to provide funds for advertising and promotions as well as volume and other rebate programs. When sales are made to these customers, the Company records liabilities pursuant to these programs. The Company periodically assesses these liabilities based on actual sales to determine whether all of the cooperative advertising earned will be used by the customer or whether the customer will meet the requirements to receive rebate funds. Significant estimates are required at any point in time with regard to the ultimate reimbursement to be claimed by the customers. Subsequent revisions to the estimates are recorded and charged to earnings in the period in which they are identified. Rebates and certain cooperative advertising amounts are classified as a reduction of revenue and presented within net revenues in the accompanying consolidated statements of operations. Cooperative advertising expenses that can be identified as a distinct good or service and for which the fair value can be reasonably estimated are recorded, when incurred, as components of marketing and sales expenses in the accompanying consolidated statements of operations. Marketing and sales expense in 2022, 2021 and 2020 included $4.1 million, $2.7 million and $1.2 million, respectively, related to shared advertising costs that the Company incurred under its cooperative advertising programs to the extent the fair value of the distinct good or service were reasonably estimable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p>
CY2022Q4 us-gaap Deferred Advertising Costs
DeferredAdvertisingCosts
4100000 usd
CY2021Q4 us-gaap Deferred Advertising Costs
DeferredAdvertisingCosts
2700000 usd
CY2020Q4 us-gaap Deferred Advertising Costs
DeferredAdvertisingCosts
1200000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
61000000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
149800000 usd
CY2020 us-gaap Advertising Expense
AdvertisingExpense
130300000 usd
CY2022 prpl Fair Value Of Common Stock Issued Description
FairValueOfCommonStockIssuedDescription
The fair value of common stock issued at closing consisted of approximately 8.1 million shares of Class A common stock valued using the acquisition date closing price of $2.86. The fair value of common stock held in escrow consisted of 0.5 million shares of Class A common stock valued using the acquisition date closing price of $2.86. These shares are being held in escrow pending resolution of net working capital adjustments and certain indemnification matters, as described in the Merger Agreement. 
CY2022 prpl Fair Value Of Effective Settlement
FairValueOfEffectiveSettlement
1400000 usd
CY2022 prpl Fair Value Acquisition Amount
FairValueAcquisitionAmount
300000 usd
CY2022 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1400000 usd
CY2022 prpl Payable Amount
PayableAmount
300000 usd
CY2022Q4 prpl Warranty Liabilities Current
WarrantyLiabilitiesCurrent
5000000 usd
CY2021Q4 prpl Warranty Liabilities Current
WarrantyLiabilitiesCurrent
3900000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
15700000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
11100000 usd
CY2022 prpl Measurement Period
MeasurementPeriod
P1Y
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1300000 usd
CY2022 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
9700000 usd
CY2022 prpl Warrants Outstanding
WarrantsOutstanding
1900000 usd
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
29311000 usd
CY2020 prpl Fair Value Measurement With Initial Measurement
FairValueMeasurementWithInitialMeasurement
-1275000 usd
CY2020 prpl Fair Value Measurement With Fair Value Transfer To Level1 Measuremen
FairValueMeasurementWithFairValueTransferToLevel1Measuremen
-84730000 usd
CY2020 prpl Fair Value Measurement With Change In Valuation Inputs
FairValueMeasurementWithChangeInValuationInputs
149402000 usd
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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92708000 usd
CY2021 prpl Fair Value Of Warrants Exercised
FairValueOfWarrantsExercised
-64311000 usd
CY2021 prpl Fair Value Measurement With Change In Valuation Inputs
FairValueMeasurementWithChangeInValuationInputs
-24054000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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4343000 usd
CY2022 prpl Fair Value Measurement With Change In Valuation Inputs
FairValueMeasurementWithChangeInValuationInputs
-4343000 usd
CY2022 prpl Pretax Income
PretaxIncome
1600000 usd
CY2022 prpl Tax Benefit Recognized Percentage
TaxBenefitRecognizedPercentage
0.50 pure
CY2022 prpl Tax Receivables Agreement Percentage
TaxReceivablesAgreementPercentage
0.80 pure
CY2022Q4 us-gaap Investments And Cash
InvestmentsAndCash
1700000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
1700000 usd
CY2022 us-gaap Severance Costs1
SeveranceCosts1
2000000 usd
CY2022Q2 prpl Termination Fee
TerminationFee
3100000 usd
CY2022 prpl Aggregate Amount
AggregateAmount
90000000 usd
CY2022Q1 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
0.2981 pure
CY2022Q1 us-gaap Sale Of Stock Price Per Share
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6.1
CY2022Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
92900000 usd
CY2022 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
28300000 usd
CY2022 prpl Fair Value Of Class A Common Stock Issued At Closing
FairValueOfClassACommonStockIssuedAtClosing
23069000 usd
CY2022 prpl Fair Value Of Class A Common Stock Held In Escrow
FairValueOfClassACommonStockHeldInEscrow
1467000 usd
CY2022 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
1471000 usd
CY2022 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
3900000 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
606230000 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
774886000 usd
CY2022 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-83323000 usd
CY2021 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
12603000 usd
CY2022 prpl Operating Expenses Description
OperatingExpensesDescription
●A decrease of operating expenses by $4.4 million during the year ended December 31, 2022, to eliminate costs directly related to the acquisition that do not have a continuing impact on operating results.      ● A decrease of operating expenses by $1.5 million during the year ended December 31, 2021 to eliminate litigation costs directly related to the lawsuit between the two Companies.     ● A decrease of operating expenses by $1.5 million and $0.6 million during the years ended December 31, 2022 and 2021, respectively, to eliminate costs directly related to immediate restructuring that do not have a continuing impact on operating results.     ● An increase of operating expenses by $2.2 million and $1.8 million during the years ended December 31, 2022 and 2021, respectively, to reflect the additional depreciation and amortization expense related to the increase in property and equipment assets and definite lived intangible assets.  
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
31803000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
33609000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2261000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4023000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
40476000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
63419000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1343000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2361000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
73197000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
98690000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
31567000 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
66533000 usd
CY2021Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
58094000 usd
CY2022Q4 prpl Equipment In Progress
EquipmentInProgress
19099000 usd
CY2021Q4 prpl Equipment In Progress
EquipmentInProgress
19840000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
56114000 usd
CY2021Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
38098000 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
26290000 usd
CY2021Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
12482000 usd
CY2022Q4 prpl Office Equipment
OfficeEquipment
4393000 usd
CY2021Q4 prpl Office Equipment
OfficeEquipment
4843000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
172429000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
133357000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35756000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20743000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
136673000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
112614000 usd
CY2022 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
700000 usd
CY2021 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
1000000 usd
CY2022 us-gaap Depreciation
Depreciation
16200000 usd
CY2021 us-gaap Depreciation
Depreciation
9200000 usd
CY2020 us-gaap Depreciation
Depreciation
5500000 usd
CY2022Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P16Y
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1000000 usd
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
700000 usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
17216000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1700000 usd
CY2022Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
2100000 usd
CY2021Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
900000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
15743000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
8910000 usd
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
5736000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
2311000 usd
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
2207000 usd
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
317000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
11000 usd
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
224000 usd
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
34000 usd
CY2022 us-gaap Lease Cost
LeaseCost
18065000 usd
CY2021 us-gaap Lease Cost
LeaseCost
11341000 usd
CY2020 us-gaap Lease Cost
LeaseCost
6087000 usd
CY2022Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P5Y
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
18332000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
19687000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
19638000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18553000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
18813000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
69282000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
164305000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
34998000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
129307000 usd
CY2022 prpl Leases Undiscounted Amount
leasesUndiscountedAmount
20500000 usd
CY2022Q4 us-gaap Tenant Improvements
TenantImprovements
2200000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
9003000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
2779000 usd
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
1732000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
38599000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
30307000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-4086000 usd
CY2022 prpl Intangible Assets Net Carrying Value
IntangibleAssetsNetCarryingValue
26221000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16073000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-2869000 usd
CY2021 prpl Intangible Assets Net Carrying Value
IntangibleAssetsNetCarryingValue
13204000 usd
CY2020Q1 us-gaap Intangible Assets Explanation Of Significant Deletions
IntangibleAssetsExplanationOfSignificantDeletions
Purple LLC entered into a supply and services agreement with Responsive Surface Technology, LLC (“ReST”) whereby the Company acquired a license and made a prepayment for future products and services to be provided by the third party. The $4.0 million paid upon execution of the contract was allocated to a license for certain technologies ($2.2 million), inventory to be utilized by the third party in the production of goods ($0.8 million) and future professional services to be delivered by the third party ($1.0 million).
CY2020 prpl Unamortized License Costs
unamortizedLicenseCosts
600000 usd
CY2022 us-gaap Indefinite Lived Intangible Assets Written Off Related To Sale Of Business Unit
IndefiniteLivedIntangibleAssetsWrittenOffRelatedToSaleOfBusinessUnit
800000 usd
CY2022 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
300000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1200000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2400000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3380 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4398 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3489 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2824 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1321 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2323 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17735 usd
CY2020Q3 prpl Prepayment Fee For Retirement
PrepaymentFeeForRetirement
2500000 usd
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
3300000 usd
CY2020 us-gaap Interest Expense Debt
InterestExpenseDebt
4000000 usd
CY2021Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
12061000 usd
CY2022 prpl Required Member Distributions Percentage
RequiredMemberDistributionsPercentage
0.45 pure
CY2022Q4 prpl Related Party Loan
RelatedPartyLoan
24656000 usd
CY2021Q4 prpl Related Party Loan
RelatedPartyLoan
42188000 usd
CY2021Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
55000000 usd
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
999000 usd
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
778000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
23657000 usd
CY2021Q4 us-gaap Debt Current
DebtCurrent
96410000 usd
CY2021 prpl Longterm Debt Current Portion
LongtermDebtCurrentPortion
-2297000 usd
CY2022Q4 prpl Debt Net Of Current Portion
DebtNetOfCurrentPortion
23657000 usd
CY2021Q4 prpl Debt Net Of Current Portion
DebtNetOfCurrentPortion
94113000 usd
CY2022Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.0898 pure
CY2022Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
55000000 usd
CY2022 us-gaap Long Term Debt Contingent Payment Of Principal Or Interest
LongTermDebtContingentPaymentOfPrincipalOrInterest
$15.0
CY2022 us-gaap Securities Purchased Under Agreement To Resell Allowance For Credit Loss Writeoff
SecuritiesPurchasedUnderAgreementToResellAllowanceForCreditLossWriteoff
4100000 usd
CY2021 us-gaap Securities Purchased Under Agreement To Resell Allowance For Credit Loss Writeoff
SecuritiesPurchasedUnderAgreementToResellAllowanceForCreditLossWriteoff
2400000 usd
CY2020 us-gaap Securities Purchased Under Agreement To Resell Allowance For Credit Loss Writeoff
SecuritiesPurchasedUnderAgreementToResellAllowanceForCreditLossWriteoff
700000 usd
CY2018Q1 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
25000000 usd
CY2019Q1 prpl Amended And Restated Credit Agreement Descriptions
AmendedAndRestatedCreditAgreementDescriptions
Purple LLC entered into a First Amendment to the 2018 Credit Agreement (the “First Amendment”) whereby Purple LLC agreed to enter into the Amended and Restated Credit Agreement, under which two of the Lenders (“Incremental Lenders”) agreed to provide an incremental loan of $10.0 million (the “Incremental Loan”) such that the total amount of principal indebtedness provided to Purple LLC was increased to $35.0 million. Upon funding the $10.0 million Incremental Loan on February 26, 2019, the Company issued to the Incremental Lenders 2.6 million warrants (“Incremental Loan Warrants”) to purchase 2.6 million shares of the Company’s Class A common stock at a price of $5.74 per share, subject to certain adjustments.
CY2020Q3 prpl Fair Value Of Incremental Loan Warrants
FairValueOfIncrementalLoanWarrants
10 usd
CY2020Q3 prpl Recognized Loss
RecognizedLoss
5800000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
24656000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
24656000 usd
CY2022 prpl Schedule Of Fair Value Of Incremental Warrants
ScheduleOfFairValueOfIncrementalWarrants
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Trading price of common stock on measurement date</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">31.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise price <br/></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.90</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant life in years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45.46</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Probability of an event causing a warrant re-price</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100.00</td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Trading price of common stock on measurement date</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4.79</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">13.27</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">32.94</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5.75</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.04</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.39</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.13</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant life in years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80.59</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">73.78</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50.64</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">—</div></td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2021 prpl Cash Proceeds
CashProceeds
100000 usd
CY2020 prpl Cash Proceeds
CashProceeds
46400000 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1900000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1900000 shares
CY2022 us-gaap Business Combination Separately Recognized Transactions Revenues And Gains Recognized
BusinessCombinationSeparatelyRecognizedTransactionsRevenuesAndGainsRecognized
4300000 usd
CY2021 us-gaap Business Combination Separately Recognized Transactions Revenues And Gains Recognized
BusinessCombinationSeparatelyRecognizedTransactionsRevenuesAndGainsRecognized
24100000 usd
CY2020 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
240700000 usd
CY2022 prpl Other Long Term Liabilities
OtherLongTermLiabilities
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>13. Other Long-Term Liabilities</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Other long-term liabilities consisted of the following (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-transform: uppercase; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-transform: uppercase"> </td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-transform: uppercase; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-transform: uppercase"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Warranty accrual</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">20,744</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,013</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Asset retirement obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">932</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,861</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,975</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: current portion of warranty accrual</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,985</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,914</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Other long-term liabilities, net of current portion</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">17,876</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">12,061</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
20744000 usd
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
15013000 usd
CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
2098000 usd
CY2021Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
932000 usd
CY2022Q4 prpl Other Longterm Liabilities
OtherLongtermLiabilities
19000 usd
CY2021Q4 prpl Other Longterm Liabilities
OtherLongtermLiabilities
30000 usd
CY2022Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
22861000 usd
CY2021Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
15975000 usd
CY2022Q4 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
4985000 usd
CY2021Q4 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
3914000 usd
CY2022Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
17876000 usd
CY2021Q4 us-gaap Contractual Obligation Due In Fourth And Fifth Year
ContractualObligationDueInFourthAndFifthYear
1200000 usd
CY2020Q4 us-gaap Contractual Obligation Due In Fourth And Fifth Year
ContractualObligationDueInFourthAndFifthYear
5500000 usd
CY2022Q4 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
100000 usd
CY2021Q4 prpl Net Assets
NetAssets
100000 usd
CY2018Q1 prpl Subscription Agreement And Preemptive Rights Description
SubscriptionAgreementAndPreemptiveRightsDescription
in connection with the Business Combination, the Company entered into a subscription agreement with CCP and Blackwell, pursuant to which CCP and Blackwell agreed to purchase from the Company an aggregate of 4.0 million shares of Class A common stock at a purchase price of $10.00 per share (the “Coliseum Private Placement”). In connection with the Coliseum Private Placement, the Sponsor assigned (i) an aggregate of 1.3 million additional shares of Class A common stock to CCP and Blackwell and (ii) an aggregate of 3.3 million warrants to purchase 1.6 million shares of Class A common stock to CCP, Blackwell, and CDF.
CY2021Q2 prpl Investors Price Per Share
InvestorsPricePerShare
30
CY2021Q4 us-gaap General Partners Offering Costs
GeneralPartnersOfferingCosts
7900000 usd
CY2022 us-gaap Payments Of Debt Restructuring Costs
PaymentsOfDebtRestructuringCosts
15000 cad
CY2020Q3 prpl Trade Seeking Amount
TradeSeekingAmount
7000000 usd
CY2022 prpl Estimated To Be A Gain
EstimatedToBeAGain
1400000 usd
CY2022 prpl Paid Under Agreement
PaidUnderAgreement
900000 usd
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
100000 usd
CY2022 prpl Seeks Over Damages
SeeksOverDamages
100000 usd
CY2022 prpl Photon Judgment
PhotonJudgment
4000000 usd
CY2022Q3 prpl Against Numerous Entities Description
AgainstNumerousEntitiesDescription
Purple LLC filed a complaint with the U.S. International Trade Commission (“ITC”) against numerous entities and individuals from the People’s Republic of China and South Korea (“Respondents”) that have been violating Purple’s intellectual property rights related to pillow and seat cushion products.  The complaint alleges that the proposed Respondents are violating 19 U.S.C. § 1337 (“Section 337”) by importing into the United States, selling for importation into the United States, and/or selling in the United States after importation pillow and seat cushion products that infringe Purple’s trade dress rights or otherwise constitute unfair competition, infringe a certain Purple design patent, infringe Purple trademarks, and/or infringe Purple utility patents. The complaint requests at least the following relief:  (i) a General Exclusion Order excluding from entry into the United States all pillow and seat cushion products that infringe any asserted Purple intellectual property right; (ii) Limited Exclusion Orders excluding from entry into the United States all pillow and cushion products of the proposed Respondents named in the complaint that infringe any asserted Purple intellectual property right; and (iii) Cease and Desist Orders against the proposed Respondents named in the complaint barring them from marketing, selling, advertising, or distributing infringing products in the United States, including via on-line retailers.  On September 6, 2022, the ITC instituted Investigation No. 337-TA-1328 in response to Purple LLC’s complaint.  The ITC Administrative Law Judge set a Procedural Schedule for the Investigation that includes an April 12–14, 2023, Evidentiary Hearing and an October 12, 2023, Target Date for completion of the Investigation.
CY2022Q3 prpl Against Numerous Entities Description
AgainstNumerousEntitiesDescription
, LLC v. Bedmate-U Co., Ltd., against numerous entities and individuals from the People’s Republic of China and South Korea (“Respondents”).  The complaint alleges that the Respondents have (a) violated Lanham Act § 43(a), 15 U.S.C. § 1125(a) by committing acts of trade dress infringement; (b) infringed U.S. Trademark Registration No. 5,661,556; (c) infringed U.S. Trademark Registration No. 6,551,053; (d) violated Lanham Act § 43(a), 15 U.S.C. § 1125(a) by committing acts of trademark infringement; (e) infringed U.S. Patent No. D909,092; (f) infringed U.S. Patent No. 10,772,445; (g) infringed U.S. Patent No. 10,863,837; (h) violated Utah Unfair Competition Act, Utah Code § 13-5a-101 et seq.; and/or (i) committed common law unfair competition.
CY2022 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
500000 usd
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
600000 usd
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Units Issued
PreferredUnitsIssued
300000 shares
CY2021 prpl Warrants Issued
WarrantsIssued
6600000 shares
CY2021 prpl Cash Proceedss
CashProceedss
100000 usd
CY2021 prpl Warrants Outstanding Shares
WarrantsOutstandingShares
1900000 shares
CY2021 prpl Combined Nci Percentage
CombinedNCIPercentage
0.007 pure
CY2022 prpl Tax Receivable Agreement Liabilities
TaxReceivableAgreementLiabilities
usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-89689000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4031000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-236867000 usd
CY2021 us-gaap Fair Value Liabilities Measured On Recurring Basis Debt Instrument Valuation Techniques Change In Technique Quantification Of Effect
FairValueLiabilitiesMeasuredOnRecurringBasisDebtInstrumentValuationTechniquesChangeInTechniqueQuantificationOfEffect
-24054000 usd
CY2021 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
160000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-89689000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-20183000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-236867000 usd
CY2022 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
81779000 shares
CY2021 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
65928000 shares
CY2020 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
39219000 shares
CY2021 prpl Add Dilutive Effect Of Warrants
AddDilutiveEffectOfWarrants
920000 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
454000 shares
CY2022 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
81779000 shares
CY2021 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
67302000 shares
CY2020 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
39219000 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.1
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.04
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.1
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.3
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.04
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
3500000 usd
CY2022 prpl Paired Securities Convertible Amount
PairedSecuritiesConvertibleAmount
400000 shares
CY2022 prpl Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plan
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlan
1400000 usd
CY2022Q4 us-gaap Restricted Investments At Fair Value
RestrictedInvestmentsAtFairValue
700000 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2021 prpl Recorded Restricted Stock Unit Expense
RecordedRestrictedStockUnitExpense
2400000 usd
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2136000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.95
CY2020 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y3M18D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3752000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
488000 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
16.26
CY2020 prpl Stock Issued During Period Share Stock Options Exercised
StockIssuedDuringPeriodShareStockOptionsExercised
281000 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.68
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
109000 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
10.8
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2234000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.71
CY2020 prpl Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageContractualTerm
P3Y6M
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
54133000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
234000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
24.85
CY2021 prpl Stock Issued During Period Share Stock Options Exercised
StockIssuedDuringPeriodShareStockOptionsExercised
171000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.26
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
745000 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
14.02
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1552000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.65
CY2021 prpl Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageContractualTerm
P1Y10M24D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8667000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
594000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.82
CY2022 prpl Stock Issued During Period Share Stock Options Exercised
StockIssuedDuringPeriodShareStockOptionsExercised
20000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.32
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
1307000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.8
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
819000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.68
CY2022 prpl Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageContractualTerm
P2Y3M18D
CY2021 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
CY2022 prpl Taxable Incomes
TaxableIncomes
Income tax (benefit) expense for the years ended December 31, 2022, 2021 and 2020 consist of the following (in thousands): 
CY2020 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
-117000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
34014000 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
843000 usd
CY2022Q4 prpl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Numbers
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumbers
819000 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y3M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
512000 shares
CY2022 prpl Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P1Y6M
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
700000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2100000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1300000 usd
CY2021 prpl Remaining Recognition Period
RemainingRecognitionPeriod
P1Y7M6D
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
200000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1400000 usd
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
400000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
1600000 usd
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
4500000 usd
CY2021 prpl Restricted Stock Granted
RestrictedStockGranted
200000 shares
CY2022 prpl Weighted Average Grant Date Fair Value
WeightedAverageGrantDateFairValue
3.71
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
16.28
CY2022 prpl Fair Value Of Trading Price Of Common Stock On Measurement Date
FairValueOfTradingPriceOfCommonStockOnMeasurementDate
5.33
CY2021 prpl Fair Value Of Trading Price Of Common Stock On Measurement Date
FairValueOfTradingPriceOfCommonStockOnMeasurementDate
24.88
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0289 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0043 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y10M24D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y8M12D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.851 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.77 pure
CY2022 prpl Recorded Restricted Stock Unit Expense
RecordedRestrictedStockUnitExpense
4900000 usd
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2022 prpl Total Noncash Stock Compensation And Associated Line Item On Statement Of Operations
TotalNoncashStockCompensationAndAssociatedLineItemOnStatementOfOperations
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Cost of revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">305</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">303</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">169</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: transparent"> <td style="text-align: justify">Marketing and sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,033</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,353</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: transparent"> <td style="text-align: justify; padding-bottom: 1.5pt">Research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">165</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">361</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total non-cash stock compensation</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,366</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,366</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,185</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
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The plan provides for Company matching of employee contributions up to 5% of eligible earnings.
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As a result of the initial merger transaction, the subsequent exchanges of 43.6 million Class B Units for Class A common stock as of December 31, 2022 and changes in estimates relating to the expected tax benefits associated with the liability under the agreement, the potential future Tax Receivable Agreement liability was $0.3 million, of which $168.1 million was recorded in the year ended December 31, 2021, offset by a $167.8 million reduction recorded in 2022. The $167.8 million reduction in the 2022 Tax Receivable Agreement liability reflected $162.0 million that was recorded as Tax Receivable Agreement income coupled with a payment of $5.8 million made during the year.
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AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001643953

Files In Submission

Name View Source Status
0001213900-23-021852-index-headers.html Edgar Link pending
0001213900-23-021852-index.html Edgar Link pending
0001213900-23-021852.txt Edgar Link pending
0001213900-23-021852-xbrl.zip Edgar Link pending
f10k2022ex21-1_purpleinn.htm Edgar Link pending
f10k2022ex23-1_purpleinn.htm Edgar Link pending
f10k2022ex31-1_purpleinn.htm Edgar Link pending
f10k2022ex31-2_purpleinn.htm Edgar Link pending
f10k2022ex32-1_purpleinn.htm Edgar Link pending
f10k2022ex32-2_purpleinn.htm Edgar Link pending
f10k2022ex4-3_purpleinn.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
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MetaLinks.json Edgar Link pending
prpl-20221231.xsd Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
prpl-20221231_def.xml Edgar Link unprocessable
prpl-20221231_lab.xml Edgar Link unprocessable
prpl-20221231_pre.xml Edgar Link unprocessable
prpl-20221231_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable