10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001213900-20-011641 |
| Period End Date | 20200331 |
| Filing Date | 20200511 |
| Fiscal Year | 2020 |
| Fiscal Period | Q1 |
| XBRL Instance | prpl-20200331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
64 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$12.18M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$26.38M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$33.48M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$12.23M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$23.27M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$28.69M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$42.11M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$47.63M | USD | Point-in-time |
| Prepaid inventory |
PrepaidInventoryNet
|
$1.03M | USD | Point-in-time |
| Prepaid inventory |
PrepaidInventoryNet
|
$879.00K | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$3.44M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$5.69M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$114.12M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$98.48M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$31.98M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$36.09M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$1.10M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$2.81M | USD | Point-in-time |
| Other long-term assets |
OtherAssetsNoncurrent
|
$525.00K | USD | Point-in-time |
| Other long-term assets |
OtherAssetsNoncurrent
|
$525.00K | USD | Point-in-time |
| Total assets |
Assets
|
$147.72M | USD | Point-in-time |
| Total assets |
Assets
|
$137.91M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$50.24M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$37.16M | USD | Point-in-time |
| Accrued sales returns |
AccruedSalesReturnsCurrent
|
$7.27M | USD | Point-in-time |
| Accrued sales returns |
AccruedSalesReturnsCurrent
|
$6.74M | USD | Point-in-time |
| Accrued compensation |
EmployeeRelatedLiabilitiesCurrent
|
$7.95M | USD | Point-in-time |
| Accrued compensation |
EmployeeRelatedLiabilitiesCurrent
|
$7.15M | USD | Point-in-time |
| Customer prepayments |
CustomersAdvanceCurrent
|
$6.26M | USD | Point-in-time |
| Customer prepayments |
CustomersAdvanceCurrent
|
$3.54M | USD | Point-in-time |
| Accrued sales tax |
SalesAndExciseTaxPayableCurrent
|
$5.60M | USD | Point-in-time |
| Accrued sales tax |
SalesAndExciseTaxPayableCurrent
|
$4.35M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$9.54M | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$9.26M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$86.86M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$68.20M | USD | Point-in-time |
| Long-term debt, related-party |
LongTermDebtAndCapitalLeaseObligations
|
$35.40M | USD | Point-in-time |
| Long-term debt, related-party |
LongTermDebtAndCapitalLeaseObligations
|
$36.77M | USD | Point-in-time |
| Warrant liabilities |
WarrantsLiabilities
|
$-21.62M | USD | Point-in-time |
| Warrant liabilities |
WarrantsLiabilities
|
$-7.99M | USD | Point-in-time |
| Other long-term liabilities, net of current portion |
LiabilitiesNoncurrent
|
$8.57M | USD | Point-in-time |
| Other long-term liabilities, net of current portion |
LiabilitiesNoncurrent
|
$9.83M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$122.80M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$152.46M | USD | Point-in-time |
| Commitments and contingencies (Note 11) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (Note 11) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Class A common stock; $0.0001 par value, 210,000 shares authorized; 23,622 issued and outstanding at March 31, 2020 and 22,494 issued and outstanding at December 31, 2019 |
CommonStockValue
|
$2.00K | USD | Point-in-time |
| Class A common stock; $0.0001 par value, 210,000 shares authorized; 23,622 issued and outstanding at March 31, 2020 and 22,494 issued and outstanding at December 31, 2019 |
CommonStockValue
|
$2.00K | USD | Point-in-time |
| Class B common stock; $0.0001 par value, 90,000 shares authorized; 30,270 issued and outstanding at March 31, 2020 and 31,394 issued and outstanding at December 31, 2019 |
CommonStockValue1
|
$3.00K | USD | Point-in-time |
| Class B common stock; $0.0001 par value, 90,000 shares authorized; 30,270 issued and outstanding at March 31, 2020 and 31,394 issued and outstanding at December 31, 2019 |
CommonStockValue1
|
$3.00K | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$5.96M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$5.99M | USD | Point-in-time |
| Accumulated earnings (deficit) |
RetainedEarningsAccumulatedDeficit
|
$486.00K | USD | Point-in-time |
| Accumulated earnings (deficit) |
RetainedEarningsAccumulatedDeficit
|
$-8.35M | USD | Point-in-time |
| Total stockholders' equity (deficit) |
StockholdersEquity
|
$6.45M | USD | Point-in-time |
| Total stockholders' equity (deficit) |
StockholdersEquity
|
$-2.35M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$-2.38M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$8.67M | USD | Point-in-time |
| Total equity (deficit) |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.66M | USD | Point-in-time |
| Total equity (deficit) |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-4.73M | USD | Point-in-time |
| Total equity (deficit) |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$15.11M | USD | Point-in-time |
| Total equity (deficit) |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.01M | USD | Point-in-time |
| Total liabilities and stockholders' equity (deficit) |
LiabilitiesAndStockholdersEquity
|
$147.72M | USD | Point-in-time |
| Total liabilities and stockholders' equity (deficit) |
LiabilitiesAndStockholdersEquity
|
$137.91M | USD | Point-in-time |
Income Statement
44 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues, net |
Revenues
|
$122.38M | USD | 1 Quarter |
| Revenues, net |
Revenues
|
$83.65M | USD | 1 Quarter |
| Cost of revenues |
CostOfGoodsAndServicesSold
|
$49.58M | USD | 1 Quarter |
| Cost of revenues |
CostOfGoodsAndServicesSold
|
$69.19M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$34.07M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$53.18M | USD | 1 Quarter |
| Marketing and sales |
SellingAndMarketingExpense
|
$24.02M | USD | 1 Quarter |
| Marketing and sales |
SellingAndMarketingExpense
|
$36.68M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$4.57M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$7.55M | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$1.45M | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$690.00K | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$45.68M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$29.27M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$4.80M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$7.50M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$1.14M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$1.39M | USD | 1 Quarter |
| Other income (expense), net |
OtherIncome
|
$229.00K | USD | 1 Quarter |
| Other income (expense), net |
OtherIncome
|
$-32.00K | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
- | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
$-6.30M | USD | 1 Quarter |
| Change in fair value - warrant liabilities |
ChangeForFairValueWarrantLiabilitie
|
$-1.70M | USD | 1 Quarter |
| Change in fair value - warrant liabilities |
ChangeForFairValueWarrantLiabilitie
|
$-13.63M | USD | 1 Quarter |
| Total other income (expense), net |
OtherNonoperatingIncomeExpense
|
$12.21M | USD | 1 Quarter |
| Total other income (expense), net |
OtherNonoperatingIncomeExpense
|
$-5.52M | USD | 1 Quarter |
| Net income (loss) before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-720.00K | USD | 1 Quarter |
| Net income (loss) before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$19.72M | USD | 1 Quarter |
| Income tax benefit |
IncomeTaxExpenseBenefit
|
- | USD | 1 Quarter |
| Income tax benefit |
IncomeTaxExpenseBenefit
|
$-284.00K | USD | 1 Quarter |
| Net income (loss) |
ProfitLoss
|
$20.00M | USD | 1 Quarter |
| Net income (loss) |
ProfitLoss
|
$-720.00K | USD | 1 Quarter |
| Net income (loss) attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$11.17M | USD | 1 Quarter |
| Net income (loss) attributable to noncontrolling interest |
NetIncomeLossAttributableToNoncontrollingInterest
|
$-590.00K | USD | 1 Quarter |
| Net income (loss) attributable to Purple Innovation, Inc. |
NetIncomeLoss
|
$-130.00K | USD | 1 Quarter |
| Net income (loss) attributable to Purple Innovation, Inc. |
NetIncomeLoss
|
$8.84M | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.39 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$-0.02 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.02 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.11 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
8.44M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
22.68M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
25.33M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
8.44M | shares | 1 Quarter |
Cash Flow Statement
70 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income (loss) |
ProfitLoss
|
$20.00M | USD | 1 Quarter |
| Net income (loss) |
ProfitLoss
|
$-720.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$722.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$1.78M | USD | 1 Quarter |
| Non-cash interest |
NonCashInterest
|
$1.38M | USD | 1 Quarter |
| Non-cash interest |
NonCashInterest
|
$732.00K | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
- | USD | 1 Quarter |
| Loss on extinguishment of debt |
GainsLossesOnExtinguishmentOfDebt
|
$-6.30M | USD | 1 Quarter |
| Gain on change in fair value - warrant liabilities |
ChangeInFairValueLiabilities
|
$-13.63M | USD | 1 Quarter |
| Gain on change in fair value - warrant liabilities |
ChangeInFairValueLiabilities
|
$-1.70M | USD | 1 Quarter |
| Tax receivable agreement expense |
IncomeTaxCreditsAndAdjustments
|
- | USD | 1 Quarter |
| Tax receivable agreement expense |
IncomeTaxCreditsAndAdjustments
|
$122.00K | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$73.00K | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$250.00K | USD | 1 Quarter |
| Decrease (increase) in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-5.42M | USD | 1 Quarter |
| Decrease (increase) in accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$9.45M | USD | 1 Quarter |
| Decrease (increase) in inventories |
IncreaseDecreaseInInventories
|
$-5.52M | USD | 1 Quarter |
| Decrease (increase) in inventories |
IncreaseDecreaseInInventories
|
$2.40M | USD | 1 Quarter |
| Increase in prepaid inventory and other assets |
IncreaseInPrepaidInventoryAndOtherAssets
|
$2.40M | USD | 1 Quarter |
| Increase in prepaid inventory and other assets |
IncreaseInPrepaidInventoryAndOtherAssets
|
$683.00K | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-13.22M | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$1.18M | USD | 1 Quarter |
| Decrease in accrued sales returns |
IncreaseInAccruedSalesReturns
|
$-268.00K | USD | 1 Quarter |
| Decrease in accrued sales returns |
IncreaseInAccruedSalesReturns
|
$-534.00K | USD | 1 Quarter |
| Increase (decrease) in accrued compensation |
IncreaseDecreaseInEmployeeRelatedLiabilities
|
$-801.00K | USD | 1 Quarter |
| Increase (decrease) in accrued compensation |
IncreaseDecreaseInEmployeeRelatedLiabilities
|
$463.00K | USD | 1 Quarter |
| Decrease in customer prepayments |
IncreaseOrDecreaseInCustomerAdvances
|
$-3.19M | USD | 1 Quarter |
| Decrease in customer prepayments |
IncreaseOrDecreaseInCustomerAdvances
|
$-2.72M | USD | 1 Quarter |
| Increase (decrease) in other accrued liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$-1.42M | USD | 1 Quarter |
| Increase (decrease) in other accrued liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$646.00K | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-261.00K | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-8.29M | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$4.52M | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$932.00K | USD | 1 Quarter |
| Investment in intangible assets |
PaymentsToAcquireIntangibleAssets
|
$64.00K | USD | 1 Quarter |
| Investment in intangible assets |
PaymentsToAcquireIntangibleAssets
|
$2.33M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-996.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-6.85M | USD | 1 Quarter |
| Proceeds from related-party debt |
ProceedsFromRelatedPartyDebt
|
$10.00M | USD | 1 Quarter |
| Proceeds from related-party debt |
ProceedsFromRelatedPartyDebt
|
- | USD | 1 Quarter |
| Proceeds from exercise of warrants |
ProceedsFromWarrantExercises
|
- | USD | 1 Quarter |
| Proceeds from exercise of warrants |
ProceedsFromWarrantExercises
|
$12.00K | USD | 1 Quarter |
| Payments for debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
$758.00K | USD | 1 Quarter |
| Payments for debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
- | USD | 1 Quarter |
| Principal payments on capital lease obligations |
ProceedsFromLongTermCapitalLeaseObligations
|
$-6.00K | USD | 1 Quarter |
| Principal payments on capital lease obligations |
ProceedsFromLongTermCapitalLeaseObligations
|
$-3.00K | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$9.24M | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$9.00K | USD | 1 Quarter |
| Net decrease in cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-50.00K | USD | 1 Quarter |
| Net decrease in cash |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-7.10M | USD | 1 Quarter |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$12.18M | USD | Point-in-time |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$26.38M | USD | Point-in-time |
| Cash, beginning of the period |
CashAndCashEquivalentsAtCarryingValue
|
$33.48M | 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
|
$26.38M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$33.48M | USD | Point-in-time |
| Cash, end of the period |
CashAndCashEquivalentsAtCarryingValue
|
$12.23M | USD | Point-in-time |
| Cash paid during the period for interest |
InterestPaidNet
|
- | USD | 1 Quarter |
| Cash paid during the period for interest |
InterestPaidNet
|
$14.00K | USD | 1 Quarter |
| Cash paid during the period for income taxes |
IncomeTaxesPaidNet
|
$63.00K | USD | 1 Quarter |
| Cash paid during the period for income taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Property and equipment included in accounts payable |
NoncashOrPartNoncashAcquisitionPayablesAssumed1
|
$883.00K | USD | 1 Quarter |
| Property and equipment included in accounts payable |
NoncashOrPartNoncashAcquisitionPayablesAssumed1
|
$438.00K | USD | 1 Quarter |
| Non-cash leasehold improvements |
NoncashLeaseholdImprovements
|
$615.00K | USD | 1 Quarter |
| Non-cash leasehold improvements |
NoncashLeaseholdImprovements
|
- | USD | 1 Quarter |
| Accrued distributions |
AccruedDistribution
|
- | USD | 1 Quarter |
| Accrued distributions |
AccruedDistribution
|
$-196.00K | USD | 1 Quarter |
| Tax Receivable Agreement liability |
TaxReceivableAgreementLiabilityes
|
- | USD | 1 Quarter |
| Tax Receivable Agreement liability |
TaxReceivableAgreementLiabilityes
|
$221.00K | USD | 1 Quarter |
Stockholders Equity
18 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.66M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-4.73M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$15.11M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.01M | USD | Point-in-time |
| Net income/loss |
ProfitLoss
|
$20.00M | USD | 1 Quarter |
| Net income/loss |
ProfitLoss
|
$-720.00K | USD | 1 Quarter |
| Stock-based compensation |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$73.00K | USD | 1 Quarter |
| Stock-based compensation |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$250.00K | USD | 1 Quarter |
| Exchange of stock |
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
- | USD | 1 Quarter |
| Exercise of warrants |
ExerciseOfWarrants
|
$12.00K | USD | 1 Quarter |
| Tax Receivable Agreement liability |
TraLiability
|
$-221.00K | USD | 1 Quarter |
| Accrued distributions |
AccruedDistribution
|
- | USD | 1 Quarter |
| Accrued distributions |
AccruedDistribution
|
$-196.00K | USD | 1 Quarter |
| Impact of transactions affecting NCI |
StockIssuedDuringPeriodValueOther
|
- | USD | 1 Quarter |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.66M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-4.73M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$15.11M | USD | Point-in-time |
| Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-2.01M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.