Q1 2026 Purple Innovation Inc Earnings Call Transcript
Key Points
- Showroom sales increased by 5% with comparable sales up 7%, marking the third consecutive quarter of positive growth.
- The launch of the Purple Royale collection at Mattress Firm showed strong initial sell-through trends and positive consumer response.
- The Rejuvenate 2.0 collection accounted for 56% of showroom mattress revenue, indicating strong demand for premium products.
- Partnerships with major retailers like Costco and Sam's Club are performing well, with Costco revenues more than doubling compared to last year.
- The company is seeing early benefits from improved marketing execution, including better media buying and increased consumer engagement.
- Total sales were down 8% year-over-year, primarily due to declines in e-commerce and wholesale channels.
- Gross margins were below the normal 40% baseline, impacted by floor model discounts and lower production absorption.
- E-commerce revenue declined by 10.6% in the quarter, despite improvements in March.
- The company had to adjust its full-year revenue guidance downward due to an accounting-related adjustment.
- Input cost pressures, particularly from foam and transportation, are expected to continue impacting margins in the near term.
Thank you for standing by and welcome to the Purple Innovation first quarter 2026 earnings conference call. (Operator Instructions)
I'd now like to turn the call over to Stacy Turnof, Investor Relations. You may begin.
Thank you for joining Purple Innovations' first-quarter 2026 earnings call. A copy of our earnings press release is available on the Investor Relations section of Purple's website at www.purple.com.
Before we begin, I'd like to remind you that certain statements made in this presentation are forward-looking statements. These statements reflect Purple Innovation's judgment, and analysis as of today and are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. You should not place undue reliance on these forward-looking statements. For more information, please refer to the risk factors outlined in our filings with the SEC.
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