10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001213900-19-007962 |
| Period End Date | 20190331 |
| Filing Date | 20190507 |
| Fiscal Year | 2019 |
| Fiscal Period | Q1 |
| XBRL Instance | prpl-20190331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
58 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$12.18M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$26.84M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$12.23M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$19.69M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$10.24M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$22.94M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$25.34M | USD | Point-in-time |
| Prepaid inventory |
PrepaidInventoryNet
|
$790.00K | USD | Point-in-time |
| Prepaid inventory |
PrepaidInventoryNet
|
$592.00K | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$1.49M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$2.38M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$60.18M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$47.70M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$22.72M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$22.51M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$1.54M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$1.49M | USD | Point-in-time |
| Other long-term assets |
OtherAssetsNoncurrent
|
$5.00K | USD | Point-in-time |
| Other long-term assets |
OtherAssetsNoncurrent
|
$5.00K | USD | Point-in-time |
| Total assets |
Assets
|
$71.71M | USD | Point-in-time |
| Total assets |
Assets
|
$84.44M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$25.98M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$24.83M | USD | Point-in-time |
| Accrued sales returns |
AccruedSalesReturnsCurrent
|
$5.19M | USD | Point-in-time |
| Accrued sales returns |
AccruedSalesReturnsCurrent
|
$5.46M | USD | Point-in-time |
| Accrued compensation |
EmployeeRelatedLiabilitiesCurrent
|
$2.69M | USD | Point-in-time |
| Accrued compensation |
EmployeeRelatedLiabilitiesCurrent
|
$3.15M | USD | Point-in-time |
| Customer prepayments |
CustomerAdvancesCurrent
|
$7.52M | USD | Point-in-time |
| Customer prepayments |
CustomerAdvancesCurrent
|
$4.33M | USD | Point-in-time |
| Accrued sales tax |
SalesAndExciseTaxPayableCurrent
|
$5.54M | USD | Point-in-time |
| Accrued sales tax |
SalesAndExciseTaxPayableCurrent
|
$4.44M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$2.54M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$3.73M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$48.58M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$46.82M | USD | Point-in-time |
| Long-term debt, related-party |
LongTermDebtAndCapitalLeaseObligations
|
$21.41M | USD | Point-in-time |
| Long-term debt, related-party |
LongTermDebtAndCapitalLeaseObligations
|
$32.82M | USD | Point-in-time |
| Warrant liabilities |
WarrantsLiabilities
|
$-3.17M | USD | Point-in-time |
| Warrant liabilities |
WarrantsLiabilities
|
- | USD | Point-in-time |
| Other long-term liabilities, net of current portion |
LiabilitiesNoncurrent
|
$4.29M | USD | Point-in-time |
| Other long-term liabilities, net of current portion |
LiabilitiesNoncurrent
|
$3.73M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$87.10M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$73.72M | USD | Point-in-time |
| Commitments and contingencies (Note 12) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (Note 12) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$3.73M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$3.65M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-4.32M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-4.45M | USD | Point-in-time |
| Total stockholders' deficit |
StockholdersEquity
|
$-662.00K | USD | Point-in-time |
| Total stockholders' deficit |
StockholdersEquity
|
$-719.00K | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$-1.94M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$-1.35M | USD | Point-in-time |
| Total deficit |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.01M | USD | Point-in-time |
| Total deficit |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.66M | USD | Point-in-time |
| Total deficit |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$12.41M | USD | Point-in-time |
| Total liabilities and stockholders deficit |
LiabilitiesAndStockholdersEquity
|
$71.71M | USD | Point-in-time |
| Total liabilities and stockholders deficit |
LiabilitiesAndStockholdersEquity
|
$84.44M | USD | Point-in-time |
Income Statement
34 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues, net |
Revenues
|
$60.77M | USD | 1 Quarter |
| Revenues, net |
Revenues
|
$83.65M | USD | 1 Quarter |
| Cost of revenues |
CostOfGoodsAndServicesSold
|
$49.58M | USD | 1 Quarter |
| Cost of revenues |
CostOfGoodsAndServicesSold
|
$34.95M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$25.82M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$34.07M | USD | 1 Quarter |
| Marketing and sales |
SellingAndMarketingExpense
|
$22.05M | USD | 1 Quarter |
| Marketing and sales |
SellingAndMarketingExpense
|
$24.02M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$4.57M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$6.85M | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$690.00K | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$511.00K | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$29.27M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$29.41M | USD | 1 Quarter |
| Operating income (loss) |
OperatingIncomeLoss
|
$-3.59M | USD | 1 Quarter |
| Operating income (loss) |
OperatingIncomeLoss
|
$4.80M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$1.14M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$702.00K | USD | 1 Quarter |
| Other income, net |
OtherIncome
|
$19.00K | USD | 1 Quarter |
| Other income, net |
OtherIncome
|
$229.00K | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
$-6.30M | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
- | USD | 1 Quarter |
| Change in fair value - warrant liabilities |
ChangeInFairValueLiabilities
|
$-1.70M | USD | 1 Quarter |
| Change in fair value - warrant liabilities |
ChangeInFairValueLiabilities
|
- | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-4.28M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-720.00K | USD | 1 Quarter |
| Net loss attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$-590.00K | USD | 1 Quarter |
| Net loss attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$-2.73M | USD | 1 Quarter |
| Net loss attributable to Purple Innovation, Inc. |
NetIncomeLoss
|
$-130.00K | USD | 1 Quarter |
| Net loss attributable to Purple Innovation, Inc. |
NetIncomeLoss
|
$-1.55M | USD | 1 Quarter |
| Net loss per common sharebasic and diluted |
EarningsPerShareBasicAndDiluted
|
$-0.02 | USD | 1 Quarter |
| Net loss per common sharebasic and diluted |
EarningsPerShareBasicAndDiluted
|
$-0.18 | USD | 1 Quarter |
| Weighted average common shares outstandingbasic and diluted |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
8,389.00 | shares | 1 Quarter |
| Weighted average common shares outstandingbasic and diluted |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
8,437.00 | shares | 1 Quarter |
Cash Flow Statement
62 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
ProfitLoss
|
$-4.28M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-720.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$456.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$722.00K | USD | 1 Quarter |
| Non-cash interest |
NonCashInterest
|
$154.00K | USD | 1 Quarter |
| Non-cash interest |
NonCashInterest
|
$732.00K | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
$-6.30M | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
- | USD | 1 Quarter |
| Gain on change in fair value warrant liabilities |
ChangeInFairValueLiabilities
|
$-1.70M | USD | 1 Quarter |
| Gain on change in fair value warrant liabilities |
ChangeInFairValueLiabilities
|
- | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
- | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$73.00K | USD | 1 Quarter |
| Decrease (increase) in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$9.45M | USD | 1 Quarter |
| Decrease (increase) in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-271.00K | USD | 1 Quarter |
| Increase in inventories |
IncreaseDecreaseInInventories
|
$13.23M | USD | 1 Quarter |
| Increase in inventories |
IncreaseDecreaseInInventories
|
$2.40M | USD | 1 Quarter |
| Increase in prepaid inventory and other assets |
IncreaseInPrepaidInventoryAndOtherAssets
|
$683.00K | USD | 1 Quarter |
| Increase in prepaid inventory and other assets |
IncreaseInPrepaidInventoryAndOtherAssets
|
$1.30M | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-1.24M | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$1.18M | USD | 1 Quarter |
| Decrease in accrued sales returns |
IncreaseInAccruedSalesReturns
|
$-219.00K | USD | 1 Quarter |
| Decrease in accrued sales returns |
IncreaseInAccruedSalesReturns
|
$-268.00K | USD | 1 Quarter |
| Increase (decrease) in accrued compensation |
IncreaseDecreaseInEmployeeRelatedLiabilities
|
$-350.00K | USD | 1 Quarter |
| Increase (decrease) in accrued compensation |
IncreaseDecreaseInEmployeeRelatedLiabilities
|
$463.00K | USD | 1 Quarter |
| Increase (decrease) in customer prepayments |
IncreaseDecreaseInCustomerAdvances
|
$4.03M | USD | 1 Quarter |
| Increase (decrease) in customer prepayments |
IncreaseDecreaseInCustomerAdvances
|
$-3.19M | USD | 1 Quarter |
| Increase in other accrued liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$133.00K | USD | 1 Quarter |
| Increase in other accrued liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$646.00K | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-8.29M | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-15.57M | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$2.65M | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$932.00K | USD | 1 Quarter |
| Investment in intangible assets |
PaymentsToAcquireIntangibleAssets
|
$68.00K | USD | 1 Quarter |
| Investment in intangible assets |
PaymentsToAcquireIntangibleAssets
|
$64.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-996.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-2.71M | USD | 1 Quarter |
| Proceeds from the Business Combination |
ProceedsFromIssuanceOfCommonStock
|
- | USD | 1 Quarter |
| Proceeds from the Business Combination |
ProceedsFromIssuanceOfCommonStock
|
$25.91M | USD | 1 Quarter |
| Proceeds from related-party debt |
ProceedsFromRelatedPartyDebt
|
$10.00M | USD | 1 Quarter |
| Proceeds from related-party debt |
ProceedsFromRelatedPartyDebt
|
$24.00M | USD | 1 Quarter |
| Payments on line of credit |
RepaymentsOfLinesOfCredit
|
$8.00M | USD | 1 Quarter |
| Payments on line of credit |
RepaymentsOfLinesOfCredit
|
- | USD | 1 Quarter |
| Payments for debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
$367.00K | USD | 1 Quarter |
| Payments for debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
$758.00K | USD | 1 Quarter |
| Principal payments on capital lease obligations |
ProceedsFromLongTermCapitalLeaseObligations
|
$-6.00K | USD | 1 Quarter |
| Principal payments on capital lease obligations |
ProceedsFromLongTermCapitalLeaseObligations
|
$-7.00K | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$9.24M | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$41.54M | USD | 1 Quarter |
| Net increase (decrease) in cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$23.25M | USD | 1 Quarter |
| Net increase (decrease) in cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-50.00K | USD | 1 Quarter |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$12.18M | USD | Point-in-time |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$26.84M | USD | Point-in-time |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$12.23M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$12.18M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$26.84M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$12.23M | 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
|
$438.00K | USD | 1 Quarter |
| Assignment of founder shares and sponsor warrants |
AssignmentOfFounderSharesAndWarrants
|
$4.69M | USD | 1 Quarter |
| Assignment of founder shares and sponsor warrants |
AssignmentOfFounderSharesAndWarrants
|
- | USD | 1 Quarter |
| Equipment acquired under build-to-suit service agreement |
EquipmentAcquiredThroughCapitalLease
|
$553.00K | USD | 1 Quarter |
| Equipment acquired under build-to-suit service agreement |
EquipmentAcquiredThroughCapitalLease
|
- | USD | 1 Quarter |
Stockholders Equity
10 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.01M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.66M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$12.41M | USD | Point-in-time |
| Net loss |
ProfitLoss
|
$-4.28M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-720.00K | USD | 1 Quarter |
| Proceeds and shares issued in the Business Combination |
StockIssuedDuringPeriodValueAcquisitions
|
$25.91M | USD | 1 Quarter |
| Assignment of founder shares and sponsor warrants |
AssignmentOfFounderSharesAndSponsorWarrantsValue
|
$4.69M | USD | 1 Quarter |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.01M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.66M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$12.41M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.