10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001213900-18-006327 |
| Period End Date | 20180331 |
| Filing Date | 20180515 |
| Fiscal Year | 2018 |
| Fiscal Period | Q1 |
| XBRL Instance | prpl-20180331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
60 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$3.59M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$3.77M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$4.01M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$26.84M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNet
|
$3.91M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNet
|
$4.18M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$13.35M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$26.58M | USD | Point-in-time |
| Prepaid inventory |
PrepaidInventoryNet
|
$1.59M | USD | Point-in-time |
| Prepaid inventory |
PrepaidInventoryNet
|
$2.22M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$2.88M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$492.00K | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$61.80M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$23.83M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$16.13M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$13.46M | USD | Point-in-time |
| Intangible assets, net |
FiniteLivedIntangibleAssetsNet
|
$1.27M | USD | Point-in-time |
| Intangible assets, net |
FiniteLivedIntangibleAssetsNet
|
$1.32M | USD | Point-in-time |
| Other long-term assets |
OtherAssetsNoncurrent
|
$22.00K | USD | Point-in-time |
| Other long-term assets |
OtherAssetsNoncurrent
|
$5.00K | USD | Point-in-time |
| Total Assets |
Assets
|
$79.25M | USD | Point-in-time |
| Total Assets |
Assets
|
$38.58M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$21.13M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$19.79M | USD | Point-in-time |
| Accrued sales returns |
AccruedSalesReturnsCurrent
|
$4.83M | USD | Point-in-time |
| Accrued sales returns |
AccruedSalesReturnsCurrent
|
$4.61M | USD | Point-in-time |
| Accrued compensation |
EmployeeRelatedLiabilitiesCurrent
|
$1.75M | USD | Point-in-time |
| Accrued compensation |
EmployeeRelatedLiabilitiesCurrent
|
$2.10M | USD | Point-in-time |
| Customer prepayments |
CustomerAdvancesCurrent
|
$7.06M | USD | Point-in-time |
| Customer prepayments |
CustomerAdvancesCurrent
|
$3.21M | USD | Point-in-time |
| Accrued sales tax |
SalesAndExciseTaxPayableCurrent
|
$8.47M | USD | Point-in-time |
| Accrued sales tax |
SalesAndExciseTaxPayableCurrent
|
$7.31M | USD | Point-in-time |
| Other accrued liabilities |
OtherAccruedLiabilitiesCurrent
|
$2.97M | USD | Point-in-time |
| Other accrued liabilities |
OtherAccruedLiabilitiesCurrent
|
$1.45M | USD | Point-in-time |
| Current portion of long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$30.00K | USD | Point-in-time |
| Current portion of long-term obligations |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$29.00K | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$41.21M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$43.52M | USD | Point-in-time |
| Long-term debt |
LongTermDebtAndCapitalLeaseObligations
|
$19.08M | USD | Point-in-time |
| Long-term debt |
LongTermDebtAndCapitalLeaseObligations
|
$8.00M | USD | Point-in-time |
| Other long-term liabilities and obligations, net of current portion |
LiabilitiesNoncurrent
|
$2.37M | USD | Point-in-time |
| Other long-term liabilities and obligations, net of current portion |
LiabilitiesNoncurrent
|
$2.65M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$65.24M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$51.58M | USD | Point-in-time |
| Commitments and contingencies (Note 9) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (Note 9) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$3.26M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
- | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
- | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-1.43M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
- | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$1.83M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
- | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$12.17M | USD | Point-in-time |
| Member deficit |
MembersEquity
|
- | USD | Point-in-time |
| Member deficit |
MembersEquity
|
$-13.00M | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-13.00M | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$14.01M | USD | Point-in-time |
| Total Liabilities and Equity |
LiabilitiesAndStockholdersEquity
|
$38.58M | USD | Point-in-time |
| Total Liabilities and Equity |
LiabilitiesAndStockholdersEquity
|
$79.25M | USD | Point-in-time |
Income Statement
31 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues, net |
Revenues
|
$60.98M | USD | 1 Quarter |
| Revenues, net |
Revenues
|
$30.12M | USD | 1 Quarter |
| Cost of revenues |
CostOfRevenue
|
$15.83M | USD | 1 Quarter |
| Cost of revenues |
CostOfRevenue
|
$34.58M | USD | 1 Quarter |
| Cost of revenues |
CostOfRevenue
|
$2.50M | USD | Annual |
| Gross profit |
GrossProfit
|
$14.29M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$26.40M | USD | 1 Quarter |
| Marketing and sales |
SellingAndMarketingExpense
|
$13.79M | USD | 1 Quarter |
| Marketing and sales |
SellingAndMarketingExpense
|
$22.05M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$2.21M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$6.76M | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$277.00K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$511.00K | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$16.28M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$29.32M | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-1.99M | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-2.92M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$702.00K | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
- | USD | 1 Quarter |
| Other income, net |
OtherNonoperatingIncomeExpense
|
$19.00K | USD | 1 Quarter |
| Other income, net |
OtherNonoperatingIncomeExpense
|
$6.00K | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-1.98M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-3.60M | USD | 1 Quarter |
| Net loss attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
- | USD | 1 Quarter |
| Net loss attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$-2.17M | USD | 1 Quarter |
| Net loss attributable to Purple Innovation, Inc. |
NetIncomeLoss
|
$-1.98M | USD | 1 Quarter |
| Net loss attributable to Purple Innovation, Inc. |
NetIncomeLoss
|
$-1.43M | USD | 1 Quarter |
| Net loss per common share-basic and diluted |
EarningsPerShareBasicAndDiluted
|
$-0.17 | USD | 1 Quarter |
| Net loss per common share-basic and diluted |
EarningsPerShareBasicAndDiluted
|
$-0.24 | USD | 1 Quarter |
| Weighted average common shares outstanding-basic and diluted |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
8.39M | shares | 1 Quarter |
| Weighted average common shares outstanding-basic and diluted |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
8.39M | shares | 1 Quarter |
Cash Flow Statement
60 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
ProfitLoss
|
$-1.98M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-3.60M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$456.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$75.00K | USD | 1 Quarter |
| Amortization of debt issuance costs and discounts |
AmortizationOfFinancingCostsAndDiscounts
|
$154.00K | USD | 1 Quarter |
| Amortization of debt issuance costs and discounts |
AmortizationOfFinancingCostsAndDiscounts
|
- | USD | 1 Quarter |
| Decrease (increase) in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-271.00K | USD | 1 Quarter |
| Decrease (increase) in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$743.00K | USD | 1 Quarter |
| Increase in inventories |
IncreaseDecreaseInInventories
|
$13.23M | USD | 1 Quarter |
| Increase in inventories |
IncreaseDecreaseInInventories
|
$4.03M | USD | 1 Quarter |
| Increase in prepaid inventory and other assets |
IncreaseInPrepaidInventoryAndOtherAssets
|
$2.31M | USD | 1 Quarter |
| Increase in prepaid inventory and other assets |
IncreaseInPrepaidInventoryAndOtherAssets
|
$1.75M | USD | 1 Quarter |
| (Decrease) increase in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-1.25M | USD | 1 Quarter |
| (Decrease) increase in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$5.09M | USD | 1 Quarter |
| (Decrease) increase in accrued sales returns |
IncreaseInAccruedSalesReturns
|
$-219.00K | USD | 1 Quarter |
| (Decrease) increase in accrued sales returns |
IncreaseInAccruedSalesReturns
|
$836.00K | USD | 1 Quarter |
| (Decrease) increase in accrued compensation |
IncreaseDecreaseInEmployeeRelatedLiabilities
|
$-350.00K | USD | 1 Quarter |
| (Decrease) increase in accrued compensation |
IncreaseDecreaseInEmployeeRelatedLiabilities
|
$480.00K | USD | 1 Quarter |
| Increase in customer prepayments |
IncreaseDecreaseInCustomerAdvances
|
$3.73M | USD | 1 Quarter |
| Increase in customer prepayments |
IncreaseDecreaseInCustomerAdvances
|
$3.85M | USD | 1 Quarter |
| Increase in other accrued liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$100.00K | USD | 1 Quarter |
| Increase in other accrued liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$1.53M | USD | 1 Quarter |
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$2.67M | USD | 1 Quarter |
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-15.57M | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$2.61M | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$2.65M | USD | 1 Quarter |
| Investment in intangible assets |
PaymentsToAcquireIntangibleAssets
|
$68.00K | USD | 1 Quarter |
| Investment in intangible assets |
PaymentsToAcquireIntangibleAssets
|
- | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-2.61M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-2.71M | USD | 1 Quarter |
| Proceeds from the Transaction |
ProceedsFromIssuanceOfCommonStock
|
$25.91M | USD | 1 Quarter |
| Proceeds from the Transaction |
ProceedsFromIssuanceOfCommonStock
|
- | USD | 1 Quarter |
| Proceeds from credit agreement |
ProceedsFromLinesOfCredit
|
- | USD | 1 Quarter |
| Proceeds from credit agreement |
ProceedsFromLinesOfCredit
|
$24.00M | USD | 1 Quarter |
| Payments on line of credit |
RepaymentsOfLinesOfCredit
|
- | USD | 1 Quarter |
| Payments on line of credit |
RepaymentsOfLinesOfCredit
|
$8.00M | USD | 1 Quarter |
| Payments for debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
- | USD | 1 Quarter |
| Payments for debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
$367.00K | USD | 1 Quarter |
| Principal payments on capital lease obligations |
RepaymentsOfLongTermCapitalLeaseObligations
|
$7.00K | USD | 1 Quarter |
| Principal payments on capital lease obligations |
RepaymentsOfLongTermCapitalLeaseObligations
|
- | USD | 1 Quarter |
| Payments on related party notes payable |
RepaymentsOfRelatedPartyDebt
|
- | USD | 1 Quarter |
| Payments on related party notes payable |
RepaymentsOfRelatedPartyDebt
|
$300.00K | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$41.54M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-300.00K | USD | 1 Quarter |
| Net increase (decrease) in cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$23.25M | USD | 1 Quarter |
| Net increase (decrease) in cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-241.00K | USD | 1 Quarter |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$3.59M | USD | Point-in-time |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$3.77M | USD | Point-in-time |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$4.01M | USD | Point-in-time |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$26.84M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$3.59M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$3.77M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$4.01M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$26.84M | USD | Point-in-time |
| Property and equipment included in accounts payable |
NoncashOrPartNoncashAcquisitionPayablesAssumed1
|
$95.00K | USD | 1 Quarter |
| Property and equipment included in accounts payable |
NoncashOrPartNoncashAcquisitionPayablesAssumed1
|
$94.00K | USD | 1 Quarter |
| Assignment of founder shares and sponsor warrants |
AssignmentOfFounderSharesAndSponsorWarrantsValue
|
$4.69M | USD | 1 Quarter |
| Assignment of founder shares and sponsor warrants |
AssignmentOfFounderSharesAndSponsorWarrantsValue
|
- | USD | 1 Quarter |
| Equipment acquired under build-to-suit service agreement |
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
|
- | USD | 1 Quarter |
| Equipment acquired under build-to-suit service agreement |
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
|
$553.00K | USD | 1 Quarter |
Stockholders Equity
9 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-13.00M | USD | Point-in-time |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$14.01M | USD | Point-in-time |
| Net (loss) income |
ProfitLoss
|
$-1.98M | USD | 1 Quarter |
| Net (loss) income |
ProfitLoss
|
$-3.60M | USD | 1 Quarter |
| Proceeds and shares issued in the Transaction |
StockIssuedDuringPeriodValueNewIssues
|
$25.91M | USD | 1 Quarter |
| Assignment of founder shares and sponsor warrants |
AssignmentOfFounderSharesAndSponsorWarrantsValue
|
$4.69M | USD | 1 Quarter |
| Assignment of founder shares and sponsor warrants |
AssignmentOfFounderSharesAndSponsorWarrantsValue
|
- | USD | 1 Quarter |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-13.00M | USD | Point-in-time |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$14.01M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.