2023 Q1 Form 10-Q Financial Statement

#000121390023038113 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q1
Revenue $109.4M $145.1M $143.2M
YoY Change -23.61% -22.16% -23.19%
Cost Of Revenue $66.15M $94.39M $91.55M
YoY Change -27.75% -22.47% -7.43%
Gross Profit $43.22M $50.73M $51.63M
YoY Change -16.28% -21.57% -41.0%
Gross Profit Margin 39.52% 34.96% 36.06%
Selling, General & Admin $61.84M $58.92M $67.85M
YoY Change -8.85% -37.53% -1.53%
% of Gross Profit 143.07% 116.14% 131.42%
Research & Development $3.372M $2.937M $2.143M
YoY Change 57.35% 94.63% 26.06%
% of Gross Profit 7.8% 5.79% 4.15%
Depreciation & Amortization $6.883M $5.282M $3.842M
YoY Change 79.15% 69.4% 147.87%
% of Gross Profit 15.92% 10.41% 7.44%
Operating Expenses $65.21M $61.85M $69.99M
YoY Change -6.83% -35.44% -0.86%
Operating Profit -$21.99M -$11.12M -$18.36M
YoY Change 19.74% -64.27% -208.66%
Interest Expense $202.0K -$967.0K $2.905M
YoY Change -93.05% -124.53% -66.22%
% of Operating Profit
Other Income/Expense, Net -$1.346M $161.4M $17.00K
YoY Change -8017.65% 4923.5% -83.0%
Pretax Income -$23.34M $149.3M -$15.44M
YoY Change 51.11% -722.69% -160.32%
Income Tax $72.00K $219.5M -$1.811M
% Of Pretax Income 146.99%
Net Earnings -$23.30M -$70.13M -$13.50M
YoY Change 72.57% 225.53% -164.91%
Net Earnings / Revenue -21.3% -48.32% -9.43%
Basic Earnings Per Share -$0.24 -$0.20
Diluted Earnings Per Share -$0.24 -$0.77 -$201.3K
COMMON SHARES
Basic Shares Outstanding 98.40K shares 67.06K shares
Diluted Shares Outstanding 98.85K shares 67.51K shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.53M $41.75M $62.70M
YoY Change -13.03% -54.42% -39.6%
Cash & Equivalents $54.53M $41.75M $62.70M
Short-Term Investments
Other Short-Term Assets $4.598M $11.94M $12.75M
YoY Change -63.92% -13.28% 40.05%
Inventory $87.68M $73.20M $105.8M
Prepaid Expenses $7.537M $7.821M
Receivables $14.44M $34.57M $29.01M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $168.8M $161.5M $210.3M
YoY Change -19.73% -29.65% -3.46%
LONG-TERM ASSETS
Property, Plant & Equipment $134.1M $239.2M $195.5M
YoY Change -31.42% 32.42% 54.19%
Goodwill $4.897M $4.897M
YoY Change
Intangibles $24.30M $26.22M
YoY Change 98.58%
Long-Term Investments
YoY Change
Other Assets $2.856M $1.546M $221.0M
YoY Change -98.71% -99.29% 4.27%
Total Long-Term Assets $267.7M $271.9M $430.7M
YoY Change -37.83% -34.16% 23.4%
TOTAL ASSETS
Total Short-Term Assets $168.8M $161.5M $210.3M
Total Long-Term Assets $267.7M $271.9M $430.7M
Total Assets $436.5M $433.3M $640.9M
YoY Change -31.89% -32.55% 13.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.84M $46.44M $62.88M
YoY Change -25.52% -41.77% 4.29%
Accrued Expenses $37.89M $38.29M $39.68M
YoY Change -4.53% -19.73% -1.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $365.0K
YoY Change -100.0% -81.75%
Total Short-Term Liabilities $89.60M $99.42M $111.4M
YoY Change -19.55% -29.99% -2.9%
LONG-TERM LIABILITIES
Long-Term Debt $21.55M $37.35M
YoY Change -77.1% -8.67%
Other Long-Term Liabilities $17.75M $133.5M $265.9M
YoY Change -93.32% -48.62% 4.82%
Total Long-Term Liabilities $17.75M $155.0M $303.3M
YoY Change -94.15% -56.2% 2.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.60M $99.42M $111.4M
Total Long-Term Liabilities $17.75M $155.0M $303.3M
Total Liabilities $222.7M $255.4M $415.4M
YoY Change -46.41% -48.59% 1.33%
SHAREHOLDERS EQUITY
Retained Earnings -$374.8M -$351.5M
YoY Change 34.26%
Common Stock $11.00K $9.000K
YoY Change 28.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $213.0M $178.0M $225.5M
YoY Change
Total Liabilities & Shareholders Equity $436.5M $433.3M $640.9M
YoY Change -31.89% -32.55% 13.08%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q1
OPERATING ACTIVITIES
Net Income -$23.30M -$70.13M -$13.50M
YoY Change 72.57% 225.53% -164.91%
Depreciation, Depletion And Amortization $6.883M $5.282M $3.842M
YoY Change 79.15% 69.4% 147.87%
Cash From Operating Activities -$13.50M $1.701M -$44.28M
YoY Change -69.51% -105.48% 371.58%
INVESTING ACTIVITIES
Capital Expenditures $2.943M $4.102M -$13.08M
YoY Change -122.5% -126.36% 5.89%
Acquisitions
YoY Change
Other Investing Activities $12.00K
YoY Change
Cash From Investing Activities -$3.098M -$4.090M -$13.08M
YoY Change -76.31% -73.72% 5.89%
FINANCING ACTIVITIES
Cash Dividend Paid $100.0K
YoY Change
Common Stock Issuance & Retirement, Net $5.344M $93.06M
YoY Change 1321.28% 46430.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $29.38M -15.00M 28.44M
YoY Change 3.29% -127.47% 989.69%
NET CHANGE
Cash From Operating Activities -$13.50M 1.701M -44.28M
Cash From Investing Activities -$3.098M -4.090M -13.08M
Cash From Financing Activities $29.38M -15.00M 28.44M
Net Change In Cash $12.78M -17.39M -28.92M
YoY Change -144.18% -317.36% 51.17%
FREE CASH FLOW
Cash From Operating Activities -$13.50M $1.701M -$44.28M
Capital Expenditures $2.943M $4.102M -$13.08M
Free Cash Flow -$16.45M -$2.401M -$31.20M
YoY Change -47.29% -84.48% -1154.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 prpl Common Stock Value2
CommonStockValue2
usd
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-37523
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-4078206
CY2023Q1 prpl Tax Distribution Payable
TaxDistributionPayable
usd
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
4100 NORTH CHAPEL RIDGE ROAD
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
SUITE 200
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
LEHI
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
84043
CY2023Q1 dei City Area Code
CityAreaCode
(801)
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
756-2600
CY2023Q1 dei Security12b Title
Security12bTitle
Class A Common Stock, par value $0.0001 per share
CY2023Q1 dei Trading Symbol
TradingSymbol
PRPL
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54530000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
41754000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14442000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
34566000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
87681000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
73197000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7537000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7821000 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
4598000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4117000 usd
CY2023Q1 us-gaap Assets Current
AssetsCurrent
168788000 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
161455000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
134094000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
136673000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
101593000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
102541000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
4897000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
4897000 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
24304000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
26221000 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2856000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1546000 usd
CY2023Q1 us-gaap Assets
Assets
436532000 usd
CY2022Q4 us-gaap Assets
Assets
433333000 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
46835000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
46441000 usd
CY2023Q1 prpl Accrued Sales Returns Current
AccruedSalesReturnsCurrent
4118000 usd
CY2022Q4 prpl Accrued Sales Returns Current
AccruedSalesReturnsCurrent
5107000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9666000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6691000 usd
CY2023Q1 us-gaap Customer Advances Current
CustomerAdvancesCurrent
2853000 usd
CY2022Q4 us-gaap Customer Advances Current
CustomerAdvancesCurrent
4452000 usd
CY2023Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1377000 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2978000 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2982000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
9804000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14129000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13708000 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
7639000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8130000 usd
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
89599000 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
97311000 usd
CY2022Q4 prpl Debt
Debt
23657000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
115306000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
115599000 usd
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
17752000 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
17876000 usd
CY2023Q1 us-gaap Liabilities
Liabilities
222657000 usd
CY2022Q4 us-gaap Liabilities
Liabilities
254443000 usd
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
11000 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
9000 usd
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
587753000 usd
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
529466000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-374814000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-351514000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
212950000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
177961000 usd
CY2023Q1 us-gaap Minority Interest
MinorityInterest
925000 usd
CY2022Q4 us-gaap Minority Interest
MinorityInterest
929000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
213875000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
178890000 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
436532000 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
433333000 usd
CY2023Q1 us-gaap Revenues
Revenues
109372000 usd
CY2022Q1 us-gaap Revenues
Revenues
143179000 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
66149000 usd
CY2022Q1 us-gaap Cost Of Revenue
CostOfRevenue
91553000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
43223000 usd
CY2022Q1 us-gaap Gross Profit
GrossProfit
51626000 usd
CY2023Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
38173000 usd
CY2022Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
49959000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
23667000 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17888000 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3372000 usd
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2143000 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
65212000 usd
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
69990000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-21989000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-18364000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
202000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
1023000 usd
CY2023Q1 us-gaap Other Income
OtherIncome
73000 usd
CY2022Q1 us-gaap Other Income
OtherIncome
17000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1217000 usd
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3928000 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1346000 usd
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2922000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
-23335000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
-15442000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
72000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1811000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-23407000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-13631000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-107000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-129000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-23300000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-13502000 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.2
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.2
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98404 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67058 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98852 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67506 shares
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
178890000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-23407000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1192000 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
57200000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
213875000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
146541000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-13631000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
542000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
166000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
92895000 usd
CY2022Q1 prpl Stock Issued During Period Tax Distribution
StockIssuedDuringPeriodTaxDistribution
-228000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
226285000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-23407000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-13631000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6883000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3842000 usd
CY2023Q1 prpl Non Cash Interest
NonCashInterest
270000 usd
CY2022Q1 prpl Non Cash Interest
NonCashInterest
148000 usd
CY2022Q1 prpl Fair Value Warrant Liabilities
FairValueWarrantLiabilities
-3928000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1217000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1192000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
542000 usd
CY2022Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
1912000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-20124000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3576000 usd
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-14484000 usd
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-7136000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-903000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1021000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1076000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
418000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1223000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-15900000 usd
CY2023Q1 prpl Increase In Accrued Sales Returns
IncreaseInAccruedSalesReturns
-989000 usd
CY2022Q1 prpl Increase In Accrued Sales Returns
IncreaseInAccruedSalesReturns
-1970000 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
2889000 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
2757000 usd
CY2023Q1 prpl Increase Or Decrease In Customer Advances
IncreaseOrDecreaseInCustomerAdvances
-1599000 usd
CY2022Q1 prpl Increase Or Decrease In Customer Advances
IncreaseOrDecreaseInCustomerAdvances
-5993000 usd
CY2023Q1 prpl Accrued Rebates And Allowances
AccruedRebatesAndAllowances
-6822000 usd
CY2022Q1 prpl Accrued Rebates And Allowances
AccruedRebatesAndAllowances
-3160000 usd
CY2023Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1979000 usd
CY2022Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
4197000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13503000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-44281000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2943000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12631000 usd
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
155000 usd
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
447000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3098000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13078000 usd
CY2023Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
24656000 usd
CY2022Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
2531000 usd
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
55000000 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2898000 usd
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1242000 usd
CY2023Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
60300000 usd
CY2022Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
98210000 usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3100000 usd
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
5315000 usd
CY2023Q1 prpl Tax Receivable Agreement Liabilities
TaxReceivableAgreementLiabilities
269000 usd
CY2022Q1 prpl Tax Receivable Agreement Liabilities
TaxReceivableAgreementLiabilities
5847000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
166000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
29377000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28441000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12776000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-28918000 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
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54530000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62698000 usd
CY2023Q1 prpl Cash Paid During The Period For Interest Net Of Amounts Capitalized
CashPaidDuringThePeriodForInterestNetOfAmountsCapitalized
39000 usd
CY2022Q1 prpl Cash Paid During The Period For Interest Net Of Amounts Capitalized
CashPaidDuringThePeriodForInterestNetOfAmountsCapitalized
-863000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
43000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
44000 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
3397000 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
4730000 usd
CY2022Q1 prpl Tax Distribution Payable
TaxDistributionPayable
228000 usd
CY2022Q4 us-gaap Investment Interest Rate
InvestmentInterestRate
1 pure
CY2023Q1 prpl Common Units Percentage
CommonUnitsPercentage
0.996 pure
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35756000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires the Company to establish accounting policies and to make estimates and judgments that affect the reported amounts of assets and liabilities and disclose contingent assets and liabilities as of the date of the unaudited condensed 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 credit losses, 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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 prpl Underwritten Offerings Of Class A Common Stock
UnderwrittenOfferingsOfClassACommonStock
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>3. Underwritten Offering of Class A Common Stock</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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2023, the Company completed an underwritten offering of 13.4 million shares of Class A common stock at a price of $4.50 per share. The underwriters did not exercise their over-allotment option. The aggregate net proceeds received by the Company from the offering, after deducting offering fees and expenses of $3.1 million, totaled $57.2 million.</span></p>
CY2023Q1 prpl Offering Fees And Expenses
offeringFeesAndExpenses
3100000 usd
CY2023Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
57200000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
28300000 usd
prpl Fair Value Of Class A Common Stock Issued At Closing
FairValueOfClassACommonStockIssuedAtClosing
23069000 usd
prpl Fair Value Of Class A Common Stock Held In Escrow
FairValueOfClassACommonStockHeldInEscrow
1467000 usd
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
1471000 usd
prpl Fair Value Of Effective Settlement Of Preexisting Relationships
FairValueOfEffectiveSettlementOfPreexistingRelationships
1672000 usd
prpl Transaction Expenses Paid On Behalf Of Intellibed
TransactionExpensesPaidOnBehalfOfIntellibed
546000 usd
prpl Due To Seller
DueToSeller
75000 usd
prpl Total Purchase Consideration
TotalPurchaseConsideration
28300000 usd
CY2023Q1 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. 
CY2023Q1 prpl Fair Value Of Effective Settlement
FairValueOfEffectiveSettlement
1400000 usd
CY2023Q1 prpl Fair Value Acquisition Amount
FairValueAcquisitionAmount
300000 usd
CY2022 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1400000 usd
CY2023Q1 prpl Payable Amount
PayableAmount
300000 usd
CY2022 prpl Payable Amount
PayableAmount
300000 usd
CY2023Q1 prpl Measurement Period
MeasurementPeriod
P1Y
CY2023Q1 us-gaap Investments And Cash
InvestmentsAndCash
1700000 usd
CY2023Q1 prpl Operating Expenses Description
OperatingExpensesDescription
purpose of the escrow cash amount was to cover Intellibed’s estimated state income tax liabilities, sales tax liabilities and related filing expenses that existed prior to the acquisition date.
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
1700000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1300000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1300000 usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1900000 usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1900000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
31771000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
31803000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4344000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2261000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
52735000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
40476000 usd
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1169000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1343000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
87681000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
73197000 usd
CY2023Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
71009000 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
66533000 usd
CY2023Q1 prpl Equipment In Progress
EquipmentInProgress
16257000 usd
CY2022Q4 prpl Equipment In Progress
EquipmentInProgress
19099000 usd
CY2023Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
56561000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
56114000 usd
CY2023Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
26238000 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
26290000 usd
CY2023Q1 prpl Office Equipment
OfficeEquipment
3777000 usd
CY2022Q4 prpl Office Equipment
OfficeEquipment
4393000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
173842000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
172429000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
39748000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
134094000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
136673000 usd
CY2023Q1 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
400000 usd
CY2022Q4 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
200000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
4800000 usd
CY2022Q4 us-gaap Depreciation
Depreciation
3600000 usd
CY2023Q1 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P16Y
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1000000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1000000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
4885000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3148000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
973000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
714000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
11000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
5858000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
3873000 usd
CY2023Q1 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P5Y
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14675000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
20464000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
20040000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
18823000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
19090000 usd
CY2023Q1 prpl Thereafter
Thereafter
70113000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
163205000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
33770000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
129435000 usd
CY2023Q1 prpl Leases Undiscounted Amount
leasesUndiscountedAmount
15700000 usd
CY2023Q1 prpl Improvement Allowances
ImprovementAllowances
1000000 usd
CY2023Q1 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
50000000 usd
CY2023Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
600000 usd
CY2022Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
1100000 usd
CY2022Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
17876000 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3406000 usd
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1435000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2209000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12751000 usd
CY2022Q4 prpl Related Party Loan
RelatedPartyLoan
24656000 usd
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
999000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
23657000 usd
CY2022 us-gaap Prepayment Fees On Advances Net
PrepaymentFeesOnAdvancesNet
15000000 usd
CY2023Q1 us-gaap Long Term Debt Average Amount Outstanding
LongTermDebtAverageAmountOutstanding
24700000 usd
CY2023Q4 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
2 pure
CY2023Q4 us-gaap Federal Home Loan Bank Leverage Ratio Actual1
FederalHomeLoanBankLeverageRatioActual1
0.02 pure
CY2023Q1 us-gaap Legal Fees
LegalFees
5000000 usd
CY2022 us-gaap Legal Fees
LegalFees
2000000 usd
CY2023Q1 us-gaap Line Of Credit Facility Description
LineOfCreditFacilityDescription
the amendment (i) reduced the amount available under the revolving line of credit to $50.0 million, (ii) provided that the maturity date of the 2020 Credit Agreement will spring forward to June 30, 2024 if consolidated EBITDA is not greater than $15.0 million for 2023, (iii) reduced limits on maximum growth capital expenditures to $32.0 million for 2023 and $35.0 million for 2024 and 2025, and (iv) revised the current minimum liquidity covenant of $25.0 million to provide that it will increase to $30.0 million for each three-month period following the applicable fiscal quarter if the leverage ratio is greater than 3.00x for any fiscal quarter ending on or after the third quarter of 2023.
CY2023Q1 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
2900000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1200000 usd
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1900000 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1900000 shares
CY2023Q1 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
400000 usd
CY2023Q1 prpl Schedule Of Fair Value Of Incremental Warrants
ScheduleOfFairValueOfIncrementalWarrants
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: -9pt; padding-left: 9pt">Trading price of common stock on measurement date</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5.85</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Risk free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.63</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Warrant life in years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.8</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72.84</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">—</div></td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 prpl Warrant Description
WarrantDescription
During the three months ended March 31, 2022, the Company recognized a gain of $3.9 million in its condensed consolidated statements of operations related to a decrease in the fair value of the sponsor warrants outstanding at the end of the period.
CY2023Q1 prpl Other Long Term Liabilities
OtherLongTermLiabilities
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13. Other Long-Term Liabilities</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other long-term liabilities consist of the following (in thousands):</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></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"> </td> <td colspan="2" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">December 31,</td><td style="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">2023</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">2022</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; text-indent: -9pt; padding-left: 9pt">Warranty accrual</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,997</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">20,744</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Asset retirement obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,131</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,098</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; text-indent: -9pt; padding-left: 9pt">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">14</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">19</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,142</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,861</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; text-indent: -9pt; padding-left: 9pt">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">(4,390</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">(4,985</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">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">17,752</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">17,876</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
19997000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
20744000 usd
CY2023Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
2131000 usd
CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
2098000 usd
CY2023Q1 prpl Other Longterm Liabilities
OtherLongtermLiabilities
14000 usd
CY2022Q4 prpl Other Longterm Liabilities
OtherLongtermLiabilities
19000 usd
CY2023Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
22142000 usd
CY2022Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
22861000 usd
CY2023Q1 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
4390000 usd
CY2022Q4 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
4985000 usd
CY2023Q1 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
17752000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
20744000 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
15013000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
696000 usd
CY2022Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2163000 usd
CY2023Q1 us-gaap Malpractice Loss Contingency Claims Incurred In Period
MalpracticeLossContingencyClaimsIncurredInPeriod
1443000 usd
CY2022Q1 us-gaap Malpractice Loss Contingency Claims Incurred In Period
MalpracticeLossContingencyClaimsIncurredInPeriod
808000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
19997000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
16368000 usd
CY2023Q1 prpl Required Member Distributions Percentage
RequiredMemberDistributionsPercentage
0.45 pure
CY2023Q1 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
100000 usd
CY2018Q1 prpl Aggregate Amount
AggregateAmount
4000000 usd
CY2018Q1 prpl Subscription Agreement And Preemptive Rights Description
SubscriptionAgreementAndPreemptiveRightsDescription
(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 Coliseum Co-Invest Debt Fund, L.P. (“CDF”).
CY2020Q3 prpl Trade Seeking Amount
TradeSeekingAmount
7000000 usd
CY2023Q1 prpl Paid Under Agreement
PaidUnderAgreement
900000 usd
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
100000 usd
CY2023Q1 prpl Seeks Over Damages
SeeksOverDamages
100000 usd
CY2023Q1 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
4000000 usd
CY2022Q3 prpl Against Numerous Entities Description
AgainstNumerousEntitiesDescription
(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; I 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.
CY2022Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
500000 usd
CY2023Q1 prpl Number Of Shares
NumberOfShares
100 shares
CY2023Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
10,000
CY2023Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
1000000 usd
CY2023Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1000000 shares
CY2023Q1 prpl Warrants Issued
WarrantsIssued
1000000 shares
CY2023Q1 prpl Warrants Description
WarrantsDescription
the Company’s Class A common stock at a price of $5.75 per half share ($11.50 per full share), subject to adjustment as specified in the warrant agreement.
CY2023Q1 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
100000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
1800000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.0031 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.1173 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.80 pure
CY2022Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
400000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
168500000 usd
CY2022 prpl Termination Fee
TerminationFee
110600000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-23300000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13502000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest
-107000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest
-129000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-23407000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-13631000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98404 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67058 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
448 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
448 shares
CY2023Q1 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
98852 shares
CY2022Q1 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
67506 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.2
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.2
CY2023Q1 prpl Shares Of Common Stock Issuable Upon Conversion Of Warrant
SharesOfCommonStockIssuableUponConversionOfWarrant
2400000 shares
CY2022Q1 prpl Shares Of Common Stock Issuable Upon Conversion Of Warrant
SharesOfCommonStockIssuableUponConversionOfWarrant
3600000 shares
CY2023Q1 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
800000 usd
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
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P2Y3M18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
44000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
8.02
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
775000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.72
CY2023Q1 prpl Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageContractualTerm
P1Y9M18D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
307000 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.84
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
202000 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.21
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
22000 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
2.7
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
83000 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
4.41
CY2023Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
300000 usd
CY2022Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
200000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1235000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.47
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
284000 shares
CY2023Q1 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
6.38
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
132000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
5.87
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
819000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.09
CY2023Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
800000 usd
CY2022Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
400000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
CY2023Q1 prpl Total Noncash Stock Compensation And Associated Line Item On Statement Of Operations
TotalNoncashStockCompensationAndAssociatedLineItemOnStatementOfOperations
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months Ended<br/> March 31,</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 78%; padding-left: 0.25in; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of revenues</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">75</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 8%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketing and sales</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(25</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">) </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">137</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General and administrative</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,120</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">323</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and development</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 9pt; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total non-cash stock-based compensation</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,192</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">542</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table>
CY2023Q1 prpl Total Noncash Stockbased Compensation
TotalNoncashStockbasedCompensation
1192000 usd
CY2022Q1 prpl Total Noncash Stockbased Compensation
TotalNoncashStockbasedCompensation
542000 usd
CY2023Q1 us-gaap General Discussion Of Pension And Other Postretirement Benefits
GeneralDiscussionOfPensionAndOtherPostretirementBenefits
The plan provides for Company matching of employee contributions up to 5% of eligible earnings.
CY2023Q1 prpl Defined Contribution Plan Cost Recognized1
DefinedContributionPlanCostRecognized1
900000 usd
CY2022Q1 prpl Defined Contribution Plan Cost Recognized1
DefinedContributionPlanCostRecognized1
1100000 usd
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3000000 usd
CY2023Q1 us-gaap Additional Collateral Aggregate Fair Value
AdditionalCollateralAggregateFairValue
4000000 usd
CY2023Q1 prpl Ownership Of Voting Securities Percentage
OwnershipOfVotingSecuritiesPercentage
0.444 pure
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Purple Innovation, Inc.
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
UT
CY2023Q1 prpl Debt
Debt
usd
CY2022Q4 prpl Common Stock Value2
CommonStockValue2
usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
usd
CY2023Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
usd
CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
usd
CY2022Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
usd
CY2023Q1 prpl Fair Value Warrant Liabilities
FairValueWarrantLiabilities
usd
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
CY2023Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
usd
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
usd
CY2023Q1 prpl Related Party Loan
RelatedPartyLoan
usd
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2023Q1 prpl Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term In Years Granted
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTermInYearsGranted
CY2023Q1 prpl Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period To Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodToIntrinsicValue
usd
CY2023Q1 prpl Stock Issued During Period Share Stock Options Exercised
StockIssuedDuringPeriodShareStockOptionsExercised
shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2023Q1 prpl Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term In Years Exercised
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTermInYearsExercised
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
usd
CY2023Q1 prpl Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term In Years Forfeitedexpired
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTermInYearsForfeitedexpired
CY2023Q1 prpl Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodTotalIntrinsicValue
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
CY2023Q1 prpl Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrants
shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001643953

Files In Submission

Name View Source Status
prpl-20230331_cal.xml Edgar Link unprocessable
0001213900-23-038113-index-headers.html Edgar Link pending
0001213900-23-038113-index.html Edgar Link pending
0001213900-23-038113.txt Edgar Link pending
0001213900-23-038113-xbrl.zip Edgar Link pending
f10q0323ex10-13_purple.htm Edgar Link pending
f10q0323ex31-1_purple.htm Edgar Link pending
f10q0323ex31-2_purple.htm Edgar Link pending
f10q0323ex32-1_purple.htm Edgar Link pending
f10q0323ex32-2_purple.htm Edgar Link pending
f10q0323_purple.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
prpl-20230331.xsd Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
prpl-20230331_def.xml Edgar Link unprocessable
prpl-20230331_pre.xml Edgar Link unprocessable
prpl-20230331_lab.xml Edgar Link unprocessable
f10q0323_purple_htm.xml Edgar Link completed
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending