Specialty mattress producer Purple Innovation said second-quarter sales slid 12.6% to $105.1 million, but the company said the figure exceeded expectations, coming amid the launch of its Rejuvenate 2.0 collection and the rollout of its program with Mattress Firm.
The second-quarter net loss totaled $17.3 million, or 16 cents per share. In the same quarter last year, Purple eked out a profit of $27,000, which is break-even on a per-share basis.
“We are pleased with our second quarter performance, which reflects our disciplined execution and continued progress as we build a premium, sustainable and profitable brand,” said Rob DeMartini, CEO. “Revenue and profit exceeded our expectations, delivering sequential improvement, where strong demand from consumers and partners has temporarily outpaced our ability to fulfill orders.”
He attributed the sales decline to delays in Rejuvenation 2.0 shipments, a decline in retail doors from 2024, and softness in the e-commerce sector.
“We are seeing strong validation of our brand and innovation strategy, led by the breakthrough success of our Rejuvenate 2.0 collection,” DeMartini said. “We’re also building significant momentum through our ongoing expansion with Mattress Firm, which remains on track, and through deepening relationships with partners such as Walmart and Costco, alongside strong and growing interest from both traditional and non-traditional partners.”
He said revenues thus far in the third quarter, which began July 1, are up mid-single digits compared with the same period last year.
For the first six months of 2025, sales totaled $209.3 million, down 12.9% from $240.3 million in the same period last year.
The first-half net loss totaled $36.5 million, or 34 cents per share. That compared with a loss of $50.2 million, or 47 cents per share, in the first half of 2024.
The company affirmed 2025 financial guidance issued earlier this year that calls for revenues to be $465 million to $485 million, and EBITDA (earnings before interest, taxes, depreciation and amortization) to range from flat to a positive $10 million.
The company said it expects sequential growth in the second half of 2025, driven by the Mattress Firm rollout and the Rejuvenate 2.0 launch.
